Index Scalper Pro Review

Jan 18, 2022 02:29 PM ET
Index Scalper Pro Review

Index Scalper Pro is an expert advisor that was launched in December 2021. It is compatible with both MT4 and MT5 trading platforms. The vendor claims that this robot allows you to swiftly enhance your account balance. They have also claimed that it is suitable for both novice and experienced traders.

On the MQL5 product page, the vendor has very briefly explained how the system functions. We have a list of requirements and some screenshots showing the growth chart and the backtesting results. On this page, you can also find the pricing details and some user reviews.

 Index Scalper Pro

Type

Fully-automated EA

Price

$799

Strategy

Scalping

Compatible Platforms

MT4, MT5

Currency Pairs

EUR/AUD, EUR/CAD, AUD/USD, GBP/USD, AUD/CAD, EUR/USD, GBP/CAD, EUR/GBP, USD/CHF, AUD/CHF, XAU/USD, EUR/CHF, and USD/CAD

Timeframe

H1

Recommended Min. Deposit

N/A

Recommended Deposit

$100

Leverage

1:500

Trading strategy explanation

This robot has in-built take profit and stop loss. It works on ECN and PRO accounts. The vendor recommends using a VPN with minimal delay to the broker’s server. Instead of using a VPN broker, you can migrate to a VPS MQL5. 

The minimum deposit required for this robot is $100 and the recommended time frame is H1. According to the developer, the IC Markets broker offers the best conditions for this expert advisor. You can also use it in combination with other robots from the same developer. Prior to using the EA on a real account, you should test it in your broker’s tester or a demo account with virtual money. 

Index Scalper Pro is built based on the principle of movement to the average value of the price. The vendor has not properly explained how the robot implements the trading strategy to identify profitable trading opportunities. Therefore, it is difficult for us to determine what kind of trading style it is suitable for.

Backtest data analysis 

Backtesting results of Index Scalper Pro.

For this backtest, the EA conducted a total of 53945 trades. It had a healthy win rate of 63.7% and a profit factor of 2.34. Using an initial deposit of $1000, it managed to generate $4996088 in profit. The relative equity drawdown was quite low at 2.86%, which means the trading risk wasn’t too high. There were 25 maximum consecutive wins and 8 maximum consecutive losses during the testing period. 

Live trading data analysis

Trading Results 

MQL5 Account

Demo (USD), ICMarkets 

Started

Jan 06, 2022

Deposit 

$1000

Balance

$1412.37

Gain

41.86%

Daily 

N/A

Monthly

41.86%

Drawdown

3.8%

Profitability

0.56

Growth chart of Index Scalper Pro.

Unfortunately, there are no verified trading accounts for this EA on websites like Myfxbook, FXBlue, and FXStat. As such, we have no option but to analyze the unverified statistics on MQL5. This account was launched on 6th January 2022, so it has a very short trading history. To date, the EA has only had six trading days, during which it has conducted 1054 trades. This tells us that it is a high-frequency trading system. The win rate is currently 55.78%, which is significantly lower than what we saw in the backtest.

We can tell that the robot is using a low-risk strategy since the maximum drawdown is quite low at 3.8%. The average profit and loss for this account are $3.12 and $3.04, respectively. Compared to the backtest, the profit factor is not very impressive at 1.30. The total profit for this account currently stands at $412.37. 

Vendor transparency

Index Scalper Pro is a product from Evgenii Aksenov, a trader based in Russia. This individual has been selling trading systems on MQL5 for three years. We don’t have any background information on them or the people they work with. There is an email address where you can contact the developer. Their other EAs include Joker EA, Gold Dragon, Genesis EA, TrendLine GRID, Champion, Gold EAgle, etc.

Customer reviews 

User reviews for Index Scalper Pro on MQL5.

We were unable to find any user reviews for this EA on websites like Trustpilot, Forexpeacearmy, Quora, and Myfxbook. On MQL5, there are a few reviews to be found, but we have no way of determining whether they are genuine or not.

Review summary 

Pros 

  • Low minimum deposit 

Cons 

  • No verified trading statistics

  • Hefty price tag

  • Lack of strategy insight

Index Scalper Pro is a robot that is compatible with multiple assets and account types. However, it is more expensive compared to others. The vendor has not shared the verified trading statistics for this system and they do not entertain refund requests. Also, we don’t have much information on the trading strategy. 

Rating: 5/10


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