Top Scalper Review

Jul 23, 2021 02:07 PM ET
Top Scalper Review

Top Scalper is an EA that uses the American trading session’s end for its trades. Developed by Valerii Gabitov, this FX robot uses the scalping approach and is compatible with any broker. It works on ECN accounts mainly and the settings include changing the SL points. Working only on the EURCAD pair, the developer assures this EA is easy and simple to set up and use.

Top Scalper

Type

Fully-automated EA

Price

$250

Strategy

Scalping

Compatible Platforms

MT5

Currency Pairs

EURCAD

Timeframe

M15

Recommended Min. Deposit

$500

Recommended Deposit

$1000

Leverage

N/A

Trading Strategy Explanation

From the name of this EA, it is clear that it uses the scalping approach. The developer claims that he has used his trading experience in creating this software. As per his claims, the main settings you have to know about are the SL and the OrdersG parameter. 

With the SL, the advisor can protect your trade position but it does not wait for the SL and closes a deal if things do not occur as predicted. Even in the case of high volatility, the loss equals the level fixed in the settings. The developer claims that this method ensures easy risk control.  

For the working method, you need not install any files. just place the EA on the EURCAD chart with the M15 timeframe and add the GMT of your broker to start trading. The developer is quick to issue a disclaimer that this is a night scalper that depends on brokers with low slippage and spreads. This can reflect badly when you use big lot sizes.

Backtest Data Analysis

Top Scalper Backtest Data Analysis

A strategy tester report for this EA is provided on the MQL5 site. The test done on the EURCAD pair and using the M15 timeframe shows a net profit of 1146846.29 from a deposit of $1000. Modeling quality of 100% was used for the test which started in 2018 and ended in 2021. A maximal drawdown of 11% is present for this account with a profit factor of 6.36. 

Live Trading Data Analysis

Trading Results

MQL5 Account

Real (USD), RoboForex

Started

Jul 05, 2021

Deposit

$300

Balance

$250.35

Gain

-16.55%

Daily

N/A 

Monthly

16.55%

Drawdown

20.2%

Profitability

20%

The developer provides a real account trading result on the MQL5 site which is shown in the screenshot below.

Top Scalper trading results

From the result, we can see the account is running at a loss of 16.55%. The initial deposit of $300 has been reduced to a balance of $250.35. A loss of $49.65 is shown for this account which has completed 10 trades of which 20% were profitable and 80% resulted in a loss. The profit factor is 0.29 and the drawdown is 20.2%. Since the trading history is of a very short duration, we cannot assess the reliability from such a small sample. Furthermore, comparing the backtest results with the real trading results we can see the performance shown in the backtest is not replicated in the live trading. 

We checked this trading account 2 days after our review was written and found that the dev removed these trading results from mql5. It looks odd and suspicious. 

Pricing

Top Scalper Pricing

This EA is available for $250, which the developer claims is only for three more copies after which the price will be $350. A three-month rental costing $125 is also present besides a free demo offer. There is no mention of a money-back assurance which makes us suspect that this is not a dependable FX robot. Furthermore, the cost of the EA is very expensive when compared to similar systems available in the market.

User Reviews

Top Scalper User Reviews

 

Top Scalper User Reviews

We found 3 user reviews for this EA on the MQL5 site. From the reviews, we can see that the live trading does not compare with the high performance shown in the backtests. One user mentions the loss of the two executed trades. This corroborates our assessment of the backtests and the real trading stats. The other two reviews are positive. 

Review Summary

Pros

Cons

  • Fully automated software
  • Poor performance
 
  • Small sample size
 
  • For unknown reasons the dev deleted his trading trading results from mql5
 
  • No money-back-guarantee

Conclusion 

Top Scalper is an EA that claims to be a profitable scalping system. Our analysis has revealed that the approach and performance were not as good as claimed by the developer. It looks odd that the developer decided to delete his trading results from mql5. Why did he do it? What was the reason? Probably it’s because the system has become an unprofitable trading solution and the dev decided to hide this info from traders. That being said, we cannot recommend this service to the public. 

Rating: 4/10


Don't miss: The Best Forex Robots in 2021

Best Forex Robots

Best Forex Brokers