Can you trust the BF Scalper Pro? The forex bot is part of a group of trading bots created by FX Automater and seems to be their ultimate product, produced from trials and errors of the previous bots the group created. The creators promise a more realistic profit margin with this bot using modified tools such as the scalp/grid technique and stop loss. Today, we review this EA to understand how the bot works, its progress stats, and the user reviews.
What is BF Scalper Pro?
BF Scalper Pro is an automated forex scalper designed in Bulgaria by Lachezar Krastev, who is also famous for his other robot, the Omega Trend Indicator. The bot is the upgraded version of the free BF Scalper EA and combines complex strategies and settings to ensure that traders get the steady, realistic profits it promises.
BF Scalper Pro Features:
- You can install the bots historical data, dating back 18 years
- Multiple currency pairs
- An optional advanced news filter
- Volatility filter
- Stop loss and an upgraded exit logic
- An advanced exit system
- An optional grid system setting
- ATR based algorithm
The bot supports several characteristics, including; GBPUSD (default), EURUSD, EURCHF, EURAUD, EURCAD, GBPCAD, USDCAD, USDCHF, and USDJPY. The main pair comes as a default, but you will have to install the reset from .Set files provided for you. The robot prides itself on being easy to install and use.
When you purchase the $137 BF Scalper PRO package, you get one real account and three demo accounts. You will have access to 24/7 user support and a 60-day money-back guarantee.
EA Review: BF Scalper Pro
BF Scalper Pro is an improvement of previous robots from Lachezar Krastev. The forex bot runs on MT4/5 and uses a lot of technologies to be successful. It combines grid/scalping, martingale, and ATR-based stop loss techniques using an M15 timeframe reducing drawdowns. BF Scalper Pro is well-thought-out in that you can choose to trade on specific days or at particular times and close out your trades by Friday evening to avoid weekend losses.
The developers of this robot included the grid technique to make the Scalper less broker-dependent. The grid trading technique is popular because it works with market volatility, and you can make a profit independent of the market’s direction. Grid is, however, not an amateur-friendly technique and can lead to massive losses because the risk is hard to control.
The forex bot consists of protective features such as effective money management and a recovery mode that, when set, helps you adjust lot sizes to recover your losses. The money management feature also lets you set the percentage risk that you’re able to endure. The creators improved the logic from the free version. The robot supports 4 and 5 digit quotes brokers.
The advanced news filter allows you to avoid a change in market directions caused by major news. It’s meant to increase the profit factor and help reduce drawdowns.
EA Review: Community Trust
We are bombarded with the bot’s backtests and other stats on FXAutomater’s site. The creators have maximized the site’s space by providing its users comprehensive information on the bot’s software. It requires a long time to understand all the information, but we are impressed the creators provided it. These are mostly beneficial for seasoned traders because they can modify their settings whenever necessary.
BF Scalper Pro Backtests
The creators provide 90% modeling quality backtests, which use actual tick data together with variable spreads. We would have preferred the 99% quality, but the historical results are promising. The test begins with a €300, which accrues a total net profit of €17711.44 from 1999 to 2019. The spread was set at ten, and the profit factor for this test stands at 2.10, which is outstanding. The test had a drawdown of 3.47% set, which is pretty low risk.
BF Scalper Pro on Myfxbook
The live data provided to Myfxbook also show steady profit and growth over the years, with reduced drawbacks this year. The track record and trading privileges are all verified. The data is also from a demo account and not one with real figures. On the demo account, we see that the trade is set on a 1:500 leverage.
The initial deposit was $1000, done in March 2019, which has grown to $2237.05 as of May this year. The account has gained 123.71%, which a 0.10% growth each day. The drawdown is 29.35%, which isn’t as low as we’d like but isn’t too high to worry us.
Out of 2220 trades throughout the year, the robot has been able to win 1528, which translates to about 61% of the total trades. The profit factor on the demo account is 1.23, far from the backtest’s projection. The average trade length is 9 hours 45min. The robot’s history isn’t that impressive, especially when you check out the monthly analytics. The robot has been performing deplorably this year.
We found some user reviews in mql5. Most of these are very positive but brief, with no evidence of how the bot has profited them.
Despite the bot showing impressive statistics, this bot isn’t registered in its host country, Bulgaria. This means it isn’t insured, and your investment isn’t safe even with the 60-day money-back guarantee.
The robot employs strategies such as grid, which are quite dangerous, which could be why their settings are optional. A robot with well-set parameters doesn’t need such strategies. The developer has done a mix and match of different methods such as ATR, stop loss, and exit logic, and the volatility feature, which means that they are conversant with forex trading and programming, which is good. The developer has also developed other robots in the past, making them an expert in the Forex field.
We don’t like that the developer couldn’t provide us with results of real trading accounts, and even comparing the backtests and the demo account, we see a whole difference in outcomes. Using the trader is quite risky, so if the risk is your kind of thing, go for it.