Launched on 7th August 2021, Euronis Scalper is a Forex robot promising the best execution. There are different versions of this system available for Metatrader 4 and Metatrader 5. To determine whether this is a reliable EA or not, we need to conduct an in-depth analysis of its trading performance, strategy, vendor transparency, and other factors.
Currently, you can purchase this system for the price of $549. This is quite excessive for a scalping system that was launched only recently. The price is much higher than the market average for scalping bots. There is a free demo version you can download to test the robot’s performance. However, the vendor does not entertain refund requests.
Euronis Scalper trading strategy
Instead of waiting for drawdown, this robot uses custom indicators for making entries and exits. However, the vendor has not explained how these indicators work, so we cannot determine how accurate they are.
As per vendor recommendation, you should use this EA with ECN brokers like FXOpen, ActivTrades, XM, FXPro, Pepperstone, Weltrade, and ICMarkets. Although the minimum deposit is $100, you need to invest $300-500 for smooth lots adjustment. You can use leverage between 1:30 to 1:400 depending on the risk level.
You can program the EA to trade with fixed lots. Alternatively, you can specify a percentage of your deposits to be used as lots. It is also possible to set the lots based on each pair stop loss. From the EA settings, you can customize the time options parameters to avoid trading on certain days of the week.
This EA follows a scalping strategy that tries to extract small gains from each trade by capitalizing on the minor price differentials between pairs. It is a high-frequency strategy that requires the system to keep running 24/7. Traders following the scalping strategy need to be alert at all times, and it can be quite stressful. Novice traders in particular may face difficulties while working with this trading scheme.
Euronis Scalper features
You can use Euronis Scalper to trade in multiple currency pairs like CHF/JPY, EUR/CAD, AUD/CAD, GBP/AUD, EUR/AUD, USD/JPY, USD/CAD, USD/CHF, GBP/USD, and EUR/USD. It uses limit orders for entry and has real and virtual stop-loss levels. It has a single chart installation for running all currency pairs. There are two risk levels for this EA, namely standard and expert.
Euronis Scalper backtesting results
This backtest was performed with a fixed lot size of 1.0 for 10 pairs from 2015 to 2021. Euronis scalper placed a total of 11517 trades during the testing period, winning 79.23% of them and generating a total net profit of $251556.48.
For this backtest, the EA had a profit factor of 2.51 and a recovery factor of 86.91. There were 43 maximum consecutive wins and 7 maximum consecutive losses. The relative balance drawdown and relative equity drawdown were 8.35% and 10.28%, respectively.
Euronis Scalper live trading results
Here we have a live trading account on Myfxbook that was launched on August 30, 2021. We found this account after doing our own research since the vendor has not shared any links to verified trading results on MQL5. To date, the EA has placed only 140 trades through this account, managing a win rate of 80%.
The total profit generated through the account currently stands at $937.52. It has daily and monthly gains of 1.91% and 75.95% respectively. Because of the short trading history, we cannot form an objective opinion about the robot’s profitability by studying the results.
Euronis Scalper reputation
Euronis Scalper is a product from Denis Sotnikov, a Russian trader. We don’t know anything about this person’s background and trading history and it is not clear how long they have been manufacturing Forex robots. Their other products include the Oracle trading assistant and the Sync Charts indicator. The lack of vendor transparency is quite disappointing and it is not a sign of a reliable vendor.
There are no user reviews for this EA on a third-party website. This tells us that the system has no reputation whatsoever. While there are several reviews on the MQL5 product page, we cannot possibly take them into consideration, since they are not verified by a third party.
Euronis Scalper review summary
- Strategy – 2/10
- Functionality & Features – 3/10
- Trading Results – 2/10
- Reliability – 2/10
- Pricing – 2/10
Euronis Scalper is an overpriced robot for which no refund policy exists. It has a very short trading history which means it hasn’t been exposed to different market scenarios. Therefore, this is an EA you should stay away from at all costs.
