Welcome to the BF Scalper Pro review.
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The BF Scalper Pro is the premium version of BF Scalper EA.
These products are created by a popular Forex robot developer known as fxautomater.com.
FX Automater is the developer behind Forex robots such as Forex Gold Investor, Volatility Factor, Forex Combo System, Wallstreet 2.0 Evolution, Forex Diamond and Forex Trend Detector.
They tell us that BF Scalper Pro has improved exit logic to increase efficiency while reducing drawdown.
Furthermore, ATR-based stop loss calculating algorithm adapts stop loss levels based on market volatility.
They’ve also added Grid system, believing that this feature will make BF Scalper Pro more profitable and less broker-dependent.
In this BF Scalper Pro review, we’ll discuss the robot’s features to let you know whether it’s a worthwhile EA for using on a live account.
In the meantime, you can also check out these highly recommended Forex trading EAs and indicators.
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The trading community has approved them and we’re confident on their capabilities based on the performance we’ve had using these tools.
BF Scalper Pro Review
FX Automater appears to be a team of persons rather than a one man army.
BF Scalper Pro is actually a product of Lachezar Krastev who lives in Bulgaria. His MQL5 profile says he’s part of the FX Automater team.
I must say the developer has really marketed their Forex EAs.
In fact, all of their Forex robots are very popular as you’ll find reviews across the internet and even discussions about their EAs.
The developer has juiced up BF Scalper Pro in order to sell licenses.
They tell us that they’ve performed 99.9% quality real tick data backtest in a real spread environment.
They claim results are very promising.
The features which they list on the sales page include the following elements:
- Strong, pure and simple trading logic
- Low draw down
- 18 years of backtesting
- Advanced news filtering
- Reasonable TP, SL plus ATR algorithm
- Volatility filter
- Improved exit logic
- Friday exit system
- Email and push notification
- Grid system (which is optional)
FX Automater has provided a user-friendly chart printout feature where traders can enable/disable a feature by just clicking.
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In fact, things like news filtering, stealth trading and when to trade or not to trade are options that can be enabled or disabled with one click.
While this does not contribute to the overall performance of the EA, it certainly makes the system user-friendly and even better than some of the robots I’ve seen people recommending.
At this juncture, I’m interested in the trading strategy just to see the thought-process that went into the creation of the algorithm.
Traders like us are very curious and when we come across something like BF Scalper Pro or any other EA, the first question is; “how does it trade?”
BF Scalper Pro review: the strategy
Before we get to the strategy part, FX Automater warns that traders must set the EA correctly according to their broekr’s GMT settings.
In addition to this, the EA is purported to produce best results only if used with a true ECN broker such as Octafx or FXchoice.
This kind of explanation is always appreciated. Even when we get to the trading strategy, we already know which brokers to use and which ones to avoid.
You cannot use market makers and outright scam brokers like Swiss Capital FX, Intera Brokers, Wilford Trade and many others.
In terms of strategy, the name of this robot basically means that trading logic involves scalping.
While the developer has added a bunch of useful features, they failed to disclose more information about how this scalping is done.
News filtering, money management, dynamic stop loss and all of the other features involved don’t provide any clue as to why the EA trades the way it does.
The discussion about BF Scalper Pro is centered around features, specifically the Grid system which is optional as traders can increase/decrease risks or switch it off altogether.
Nonetheless, we should remember that Grid and Martingale trading strategies are very risky and most Forex EA users who spend money on such EAs burn their accounts at some point.
FX Automater is however spending time discussing various aspects of this EA but not really drilling into the details of how it opens and closes trades.
I also feel that the vendor is actually selling the Grid system more than any other feature.
In fact, they’ve added 10 different types of settings for this feature alone.
BF Scalper Pro trading results
The vendor has 2 demo accounts and 1 real account. All of the results are being tracked in their myfxbook.com account.
Because there’s real account statistics, I won’t go into demo account details because the purpose of buying a BF Scalper pro license is to make money.
Their real account was created sometimes in July 2019 and is active until now.
Monthly average return is 3.59% while draw down is 4.82%. So far, the account has gained 24%.
I’m surprised at these stats because this is typically not how scalpers trade. Scalping robots go for bigger, quicker profits at the expense or risking an account.
It appears that this Forex robot is adapting a slow, consistent strategy that does not put an account at risk.
At the same time, the gains are quite minimal. I think these numbers are okay as long as traders won’t be looking for big and quick returns.
[alert-warning] I am concerned about a BF Scalper Pro myfxbook account which got deleted.[/alert-warning]
Maybe an explanation will be provided later on. For now, I suspect that this account crashed or something
Breakdown of product features
Obviously it’s an expert advisor.
Price: $97 (1 real account 3 demos)
Forex pairs: USDCHF, USDJPY, GBPCAD, USDCAD, EURCHF, EURAUD, EURCAD, GBPUSD and EURUSD
FX Automater also says they have set files for trading all these pairs.
They also claim that if traders take advantage of BF Scalper Pro now, they’ll get a discount as normal price is $147.
I don’t believe this is the case because the sales page has been announcing this discount for a very long time.
It is not likely that FX Automater will increase pricing. In fact, it is just a way of attracting more sales on the internet.
There are some reviews on the MQL5 website rating this EA with 4 out of 5 stars.
I don’t know whether or not to trust these BF Scalper pro reviews because the MQL5 website tends to have many fake reviews going through on their platform.
BF Scalper Pro offers modest returns but very stable (or so it appears). This is a Forex robot that can be considered.
I would like an explanation as to why one of their myfxbook accounts is missing and instead linking to another myfxbook account which still belongs to the company.
Also, as reviews come in, we will see whether we can edit this BF Scalper Pro review to reflect the changes.
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