Top Scalper is a Forex expert advisor that works on the Metatrader 5 trading platform. As per vendor claims, it can improve the quality of entry for trades, thus improving the outcome. However, this is something we need to verify independently at our end.
Currently, you can purchase this robot for the price of $350. This is too high a price tag for a scalping bot, and there are other EAs on the market available for much less. There is a rent option available for this robot where you can rent it for 3 months by paying $125. The vendor also offers a free demo version of the software for testing purposes. Unfortunately, there is no money-back guarantee available for this EA.
Top Scalper trading strategy
This is a robot that trades at the conclusion of the American trading session. Although it uses stop losses, it doesn’t close the trades based on them. In case the price makes an unfavorable movement, the EA will close the trades automatically. In case the stop loss is reached within a short span of time, the loss will be equal to the percentage you set in the EA settings. You can use this robot to trade in the EUR/CAD pair for the M15 timeframe.
Top Scalping uses a scalping strategy that involves taking advantage of small price differences in the market. Now, this strategy can be very time-consuming, since there are only a few opportunities that are available every day. Since scalping bots only extract small profits from each trade, it is not suitable for long-term traders.
Top Scalper features
Top Scalper is not a broker-sensitive EA but it works best with ECN brokers. You have the option of changing the stop loss for each trade by modifying the EA settings. The OrdersG parameter lets you stretch the trading position by multiple orders.
It is vital to set the GMT value correctly while trading with this EA. The summer GMT values are changed by the EA itself, but for winter GMT, you might need to change it for certain brokers. If you wish to trade with fixed lots, you need to set the value of risk to 0.
Top Scalper backtesting results
Here we have the results for a backtest conducted on the EUR/CAD pair from 2018 to 2021. The EA initially used a deposit of $1000 and after 3 years, it generated a profit of $6196.64. Top Scalper placed 1529 trades for this backtest, winning 72.60% of them. For this test, the robot had a profit factor of 2.96 and a relative equity drawdown of 8.66%.
Top Scalper live trading results
The vendor does not share the live trading results for this robot, which is quite disappointing. No serious Forex trader would consider investing in a system that is not backed by verified trading statistics. From these results, we get to know about vital performance factors like profitability, drawdown, Sharpe ratio, etc. In order to be taken seriously, every vendor must share the live statistics for their systems on websites like Myfxbook, FXBlue, and FXStat. In the absence of verified live statistics, we cannot consider this a reliable trading system.
Top Scalper reputation
Top Scalper is sold on the MQL5 website by a Russian trader named Valerii Gabitov. We don’t have much information on this person, but we can see that he has been on the MQL5 website for around 1 year. Since we don’t know anything about this person’s background and trading experience, we are not too impressed from a vendor transparency perspective. Apart from Top Scalper, he has developed systems like Turbo FX Danger, FF3 Scalper, and EA Scalper.
There are no user reviews for Top Scalper on trusted third-party review websites. On MQL5, we can see a few reviews from customers. One of them claims that the EA is a complete failure and that it loses 80% of its trades. Thus, it is abundantly clear that this scalping bot does not have much of a reputation in the market as of now and not many traders are using it in the live market.
Top Scalper Review summary
- Strategy – 3/10
- Functionality & Features – 3/10
- Trading Results – 2/10
- Reliability – 2/10
- Pricing – 2/10
Conclusion
Top Scalper is an unreliable scalper bot that is not supported by verified trading statistics. Thus, we have no idea how it would perform in a live trading scenario. The vendor does not offer a money-back guarantee for this EA, which is yet another reason to avoid it.
