Euronis Scalper is described as a legendary scalper. This insinuates that the EA is renowned and highly acclaimed. It is designed to work on the MT5 platform. The latest version is 1.231 after the vendor updated it on August 15, 2021.
Euronis Scalper is a product of an individual called Denis Sotnikov. He is part of a company known as Forex Over that was founded in 2009. Other products under this company include Oracle and Sync Charts. Unfortunately, the qualifications of the vendor are not stated.
We review this robot to ascertain if it is profitable and whether it is worth your money. The EA was published on mql5 marketplace on August 7, 2021. We have tracked its performance on Myfxbook and discovered that it has a low profitability rate. Therefore, it will take a long time for the trader to get significant returns on investment.
What is behind Euronis Scalper EA?
Just like any other EA, Euronis Scalper performs trades automatically on behalf of the user using built-in algorithms. After getting your preferred package, you can download and install the software easily. All you need to do is to load it on 1 chart and it will run 24/7. According to the vendor, default settings are optimal.
- The currency pairs applied include GBPUSD, EURAUD, GBPAUD, EURUSD, USDCHF, USDCAD, USDJPY, AUDCAD, EURCAD, and CHFJPY
- Advanced visual analysis of trade configuration on one chart
- All logic is built in and there is no need to import settings
- Applies real and virtual stop loss levels
- Grid and martingale methodologies are not in play
- Custom indicators are incorporated for a more precise market entry and exit, without waiting for drawdown
- Single chart installation that runs all currency symbols
- Supports hedging and netting modes
- Applies limit orders for entry and takeprofit for the best execution and no slippage
- The minimum recommended deposit is $100
- ECN brokers are recommended
As the name suggests Euronis Scalper uses the scalping approach. Even though this method allows the system to make profits from price movements, the gains are small. Losing trades can also be many, rendering the winnings useless.
The vendor has provided us with the backtest reports of the system. Let’s look at the analysis below:
From this backtest report, we see that the EA was backtested while using the EURCAD currency pair and a 1.0 fixed lot from 2015-2021. In this regard, the account was deposited at $10,000. With time, the profit of $21,803.06 was made. The maximum drawdown (3.25%) was small and didn’t raise any serious concerns. The profit factor was 2.37.
The system engaged in 1006 trades, out of which win rates of 81.24% for short trades and 84.05% for long trades were attained. The average loss trade (-$90.83) was twice higher than the average profit trade ($45.36). This shows that the system attracted more losses than wins as it traded.
Euronis Scalper can be acquired at $499. A renting option is also available at $100 for 1 month. Both pricing packages are indeed expensive. There are other more effective EAs that are being sold at cheaper prices. Considering that the robot generates small profits, you will not get value for your investment. So, we can comfortably say that it is not worth your money.
Trading performance of Euronis Scalper
These are the trading results of Euronis Scalper XP5. It worked on a real USD account under Pepperstone brokerage using a leverage of 1:400. In this case, a deposit of $500 was placed and the system officially began its trading activities on July 27, 2021. Till now, it has made a gain of 17.85%.
It is also important to note that the robot has been making profits at rates of 0.42% on a daily basis and at 13.80% monthly. The profit accrued is $89.10. The balance currently stands at $583.35. The drawdown rate is 3.58%.
The system has completed 88 trades with 312 pips. The average win is 5.82 pips and the average loss is -1.87 pips. The win rates for long and short trading positions are 63% and 79% respectively. These results are mediocre as they indicate that the robot generates profits at low rates. This is especially true for the long trades. The profit factor is 3.91. However, the lots traded are hidden.
August is the most profitable month so far with 14.58%.
The EA’s trading activities were on short time frames. The scalping approach generated small profit rates. The sizes of lots used are not highlighted.
The only evidence of customer support can be found on the comments section on the mql5 website. This is the platform that clients use to make queries about the robot. We noted that the developer provides feedback within 24 hours. However, he should have provided more platforms that traders can use to reach him such as email, skype, a telegram channel etc.
The robot has received only 3 reviews from customers and all of them are positive. Since the system is fresh in the market, more time is needed to see if more traders will provide their opinions about its performance.