The FX SCALPER X is an expert advisor (EA) that has been programmed to automatically trade the forex market in the popular MetaTrader platforms. Users can attach the FX SCALPER X robot to currency pair charts within the MT4 desktop terminal and it will then scan the markets for forex signals based on its built-in trading algorithm. For users who prefer to trade manually, you can set the FX SCALPER X EA to semi-automated mode so that it will send you a trading signal alert for you to check each position and decide whether or not you would like to enter a trade. In this FX SCALPER X EA Review, we will take a look at the trading strategy that it uses, the key features and perhaps most importantly, the robot results.
- Fully automated forex robot
- Can trade on multiple currency pairs
- Customisable settings
- 3 forex robots in one
- Verified Myfxbook account
- No backtests
- Very large drawdowns
- Very dependant on low spreads and commission fees
- MetaTrader 4 only
- Requires very specific broker conditions
As the name suggests, the FX SCALPER X uses an automated forex scalping strategy where it will look to take a small number of pips from short-term market movements. Forex scalping involves trading currencies with only a brief holding time, and usually executing multiple trades each day. Forex scalpers tend to try and keep risk small in an attempt to capture small price movements for a profit. The main goal of scalping is to open a position at the ask or bid price and then quickly close the position a few points higher or lower for a profit.
The problem with any forex scalping system is that they can be highly dependant on the brokers trading environment. It is not uncommon to see the exact same scalping strategy perform different depending on what forex broker it is running on. This is due to factors including but not limited to spreads, slippage, commission, volatility and liquidity. For the best results possible with any forex scalping robot, we would want a broker with tight spreads, low commission fees and rapid trade execution speeds.
Here we will take a brief look at some of the key features of the FX SCALPER X EA to see what this trading software has to offer.
Fully Automated Trading
As with the majority of forex robots, the software can automatically scan the charts in the MetaTrader platform for trading signals. It will place, manage and exit trades according to its unique built-in trading algorithm and the settings specified from within the input parameters.
Keep in mind that forex robots will not run in the MetaTrader mobile app or web platform. If you cannot always have the desktop terminal up and running then you could always consider a Forex virtual private server (VPS) which can remotely run the platform 24/7 without you needing you home machine switched on.
FX SCALPER X Bundle
When you purchase the FX SCALPER X Robot, you get a bundle of 3 forex robots in one package. This includes the following automates scalping systems:
- FX SCALPER X
- FX SCALPER XX
- FX SCALPER XXX
The FX SCALPER X BUNDLE has 3 purchase options, each for a specific time period. You can cancel your subscription anytime. The options are as follows:
- 3 months: $115 ($38.33 Per Month)
- 6 months: $155 ($25.83 Per Month)
- 1 Year: $195 ($16.25 Per Month)
- Unlimited: $395 (Lifetime Access + Unlimited Trading Accounts)
One of the most important things we look for when reviewing any forex robot are the real results and backtests. These can give us a rough idea of how the system has performed historically. That being said, lets take a close look at the FX SCALPER X results to see how it has been performing lately.
FX SCALPER X Myfxbook
The developer has shared a verified FX SCALPER X Myfxbook account where you can get an idea of how it has been trading. You can click the chart below for more detailed statistics. During our detailed analysis of the trades it has taken, we were put off slightly by the fact that the robot seems to hold onto losing positions in the hope that they will eventually turn around. Not only can this significantly increase the drawdowns and risk, it could potentially be catastrophic in the instance price did not turn back around. However, some traders may not mind this type of trading style, it is really down to your own risk preference. We have certainly seen more stable forex robots worth looking at such as the Forex Flex EA.
FX SCALPER X Backtesting
Disappointingly, the developer hasn’t shared any FX SCALPER X backtests for us to see how it has faired over historical data in the MetaTrader strategy tester. This would have been a great way to show potential users how the expert advisor may have performed over different market conditions. Whilst some traders may argue that live results are more important, we believe that the more data we can see a trading strategy tested on, the better. Due to the ever-changing nature and volatility of the forex market, it is important to see how an auto trading system can react to different markets.
Whilst we commend there is a real FX SCALPER X account being published by the developer, we are concerned that this scalping robot will be highly dependant on broker conditions. It also seems to have the potential for high drawdowns and doesn’t include a money back guarantee.
That being said, if you want to give this forex robot a try, you may wish to start on a demo trading account to get a feel for how it works. Just remember that demo trading conditions can vary greatly from a real live trading environment which could impact the performance, especially when using a scalping strategy that is impacted by spreads, slippage and commission fees.
FX SCALPER X is a bundle of forex scalping robots for the MetaTrader platform. The implemented strategy is highly broker dependant whilst the Myfxbook account is showing significant drawdown and no refunds are available.
What is the FX SCALPER X price?
The FX SCALPER X bundle prices start from $115 for 3 months, increasing through to $395 for unlimited lifetime access. There are no commitments and you can cancel anytime with one-click from within your account.
Where can I download the FX SCALPER X?
The FX SCALPER X EA is automatically delivered to your email instantly after purchase.
What kind of customer support does FX SCALPER X offer?
The software includes 24/7 user support via Telegram.
What are the best brokers to use with the FX SCALPER X?
You can use any MetaTrader forex broker to run the FX SCALPER X.
What’s the minimum amount required to trade with the FX SCALPER X?
There is no minimum amount required to start using this scalping software. You should only ever trade with what you feel comfortable with and can afford to lose.
What is the FX SCALPER X refund policy?
The FX SCALPER X website states that there are no refunds for any of the products or services offered and that all sales are final.
Is the FX SCALPER X a scam?
It would be difficult to say that the FX SCALPER X is a scam because they are sharing real account results. However, that is by no means any guarantee on how good or bad it will perform moving forward.
Can I get the FX SCALPER X for free?
You may be able to find a free copy of the robot being shared online but it will probably be out of date and unsupported.
What currency pairs does the FX SCALPER X trade?
The FX SCALPER X EA is currently trading on the following currency pairs: AUD/USD, EUR/GBP, EUR/USD, GBP/USD and USD/CAD. Pairs such as the EUR/USD and GBP/USD can offer some of the tightest spreads because they tend to have the highest trading volume. This makes them a popular choice of fx pairs for forex scalpers whose trading relies on trying to make a profit from small pip movements. They want spreads to be as tight as possible since they will most likely be entering the market frequently.
What are the best FX SCALPER X settings?
The best settings for the FX SCALPER X should be those provided by the developer as they would have optimised it to produce the preset files. Regardless, you will want to adjust the risk or lot size to a level that matches your trading style.
Can I change the FX SCALPER X settings?
Yes, you are free to experiment with your own settings if you know what you are doing, this includes the lot size, stop loss, take profit, and other features. You could then test your settings on a demo account to see how things go. You could also backtest the robot in the MetaTrader strategy tester with your own combination of settings to get an idea of how they may have performed historical speaking.
What do I need to run the FX SCALPER X?
You will need the MetaTrader desktop platform and an account with a forex broker. Most forex brokers will let you open a free demo account or an account with a small deposit and download the MetaTrader platform free of charge. The FX SCALPER X BUNDLE can be set up on both Windows and Mac operating systems.
How much money can I make with the FX SCALPER X?
There are no guarantees on how this forex trading robot will perform. Due to the unpredictable nature of the markets, nobody can say exactly what will happen moving forward. You should make sure that you understand all of the risks involved using any automated forex system such as the FX SCALPER X.
Results are based on historical data. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown. There is no guarantee of future performance. You should understand the risks involved with trading. Your capital is at risk.