Zen Scalper EA is a Forex expert advisor that promises to be 100% profitable at the end of each trading day. Not many robots can claim to be profitable on a daily basis and to be 100% accurate. EA vendors are known for making false claims, so we must investigate the performance of this robot independently.
It is a mystery who the developers behind this EA are. The official website contains no information about the parent company, so we don’t know when it was founded. We have three separate email addresses, but no physical address for the company headquarters. Also, we don’t know if the development team has built other EAs in the past.
It is imperative to review the offerings of each automated trading system before investing in it. With the growing popularity of Forex trading, numerous scam services have been cropping up in the market. Thus, we need to filter out the unreliable ones by analyzing the performance of each. Zen Scalper EA has no notable achievements and we don’t know exactly when it was launched. However, its live trading account has been active since October 2021.
What is behind the Zen Scalper EA?
This EA works on both Metatrader 4 and Metatrader 5 trading platforms. The vendor recommends testing the robot on a demo account before jumping into live trading. For a single payment, you can use a single account. It is possible to transfer it from one account to another.
This is a robot that trades exclusively in the GBP/USD pair. Since it is a scalping EA following a high-frequency approach, you should use it with M15 charts. You have the option of trading with fixed lots or enabling the auto lot management feature. Choosing the latter will cause the EA to calculate the lot size based on your account balance. The vendor recommends signing up with the FBS broker for best results.
This is a scalping bot that aims to collect small gains from each trade by taking advantage of the small price differentials between currency pairs. Such systems typically place a large number of trades on a daily basis. As such, it can be stressful for some traders, especially beginners.
From December 23, 2020, to October 26, 2021, the robot placed 2093 trades, winning 65% of them and generating a total profit of $24,663.90. The average daily and monthly gains for this backtest were 1.06% and 37.32% respectively, while the drawdown was 34.28%. Looking at the high drawdown, we are inclined to believe that the EA traded with high risks.
There are a total of three plans for this EA, namely Monthly, Referral, and Lifetime. The first plan carries a fee of $59 per month and the lifetime plan is available for a one-time fee of $249. There is no fee for the referral license and it does not expire as long as you have a minimum balance of $3000. Unfortunately, there is no money-back guarantee.
Trading performance of Zen Scalper EA
This account on Myfxbook has a very short trading history, having been launched on October 1st, 2021. It is difficult to gauge the profitability of the system from these results. To date, Zen Scalper EA has placed 506 trades through this account, winning 72% of them and generating a total profit of $18678.87. The win rate is slightly higher in comparison to the backtests. However, so is the drawdown at 46%. Such a high drawdown indicates a high risk of ruin, and therefore, we cannot consider this a safe trading system.
The vendor provides customers with 24/7 customer support. You can send your queries to the mail address provided on the website or use the live chat feature.
At this moment, there are no user reviews for this expert advisor on websites like Trustpilot, Forexpeacearmy, Quora, and Myfxbook. This shows a lack of reputation and it is evident that not many traders are currently using this EA.