BF Scalper Pro Review: Things to Consider Before Investing

BF Scalper Pro

BF Scalper Pro trades on multiple currency pairs and comes with backtesting performance records for the past 18 years. The website states that the algorithm has multiple features such as volatility and a news filter that controls the drawdown. It works on the M15 time frame. To note its outcome, we will review the product in our review and see if it is profitable for trading. 

The highlights of BF Scalper Pro

The EA has the following features, according to the provider: 

Money management

The robot can manage the cash from traders in an efficient manner. Investors do not have to adjust the lot size manually as the algorithm adjusts it according to the value of risk entered within the settings.

Time management

The robot can trade during specific hours in one day. It has an email and a push notification system in place with the option to exit trades on Friday. 

Trading strategy of BF Scalper Pro

The robot trades on multiple currency pairs and uses ATR to calculate the stop loss. According to its developer, the system has various filters that determine the volatility and help to avoid conditions with extreme impact on the market. There is a fixed stop loss and take profit with each trade, and traders can also choose to turn on the grid option. From the history present on Myfxbook, we can see the average holding time of 13 hours and 30 minutes with averaging. There is no stop loss attached to trades there.   

The trading history
The trading history

Backtesting reports

Backtesting results are available for EURCHF, where the relative drawdown was around 18.69%. The winning rate was 96.27%, with a profit factor of about 14.09. 

All the tests were done on the 15 minutes chart with a starting balance of $200. The robot tanked an average profit of $59286.91 during this period. There were 11791 trades in total in which the best trade was $35.70, while the worst one was -$51.62.

The backtesting records
The backtesting records

Trading results in real time

Verified trading records on Myfxbook show performance from March 23, 2020, till the current date. The system made an average monthly gain of 1.48%, with a drawdown of 22.67%. This is a terrific risk-reward of 20:1, which would require a high winning rate for the robot to stay in the profitable state. The winning rate stood at 70%, with a profit factor of 1.81. 

The best trade was $183.16, while the worst was -$120.98 in a total of 949 trades. The developer made $10000 in deposits and $0 in withdrawals. 

The live records
The live records

BF Scalper Pro price

The company gives the algorithm for $137, with one license available for a single account and 3 for a virtual portfolio. There is a 60-day refund policy if the robot does not perform up to the task.

The pricing model of the company
The pricing model of the company

Customer support

The company allows traders to contact them if they fill out a form on the website. This is not a good approach as there is no mention of the times they are available.

Are traders happy with BF Scalper Pro?

There is a single review present on Forex Peace Army. The trader seems to have tested one of their other algorithms and states that he will present his feedback after some time. There are no statements on the BF scalper, which means that many have not tested the algorithm.

Customer review at FPA
Customer review at FPA

BF Scalper Pro

BF Scalper Pro
2 5 0 1
BF Scalper EA has a high drawdown which renders it useless for use on live accounts. Traders can get a margin call if they misuse the robot.
BF Scalper EA has a high drawdown which renders it useless for use on live accounts. Traders can get a margin call if they misuse the robot.
2/5
Total Score
  • Functionality
    2/5 Bad
  • Trading Strategy
    2/5 Bad
  • Live Results
    3/5 Neutral
  • Customer Support
    2/5 Bad
  • User Reviews
    2/5 Bad

Advantages

  • It has live records on Myfxbook

Disadvantages

  • No solid information on the strategy
  • No transparency of developer
  • Uses risky grid strategy
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