DynaScalp is an FX robot from LeapFX that claims to provide high returns with its scalper software. This MT4 tool identifies the successful trades accurately and executes them automatically. The vendor claims that the account has generated over 500% profit in a very short span with a low drawdown.
LeapFX is the company promoting this FX EA. The company promotes many trading tools like Bounce Trader, AX Trader, and The Skilled Trader. We could not find info on the company like its founding year, location, developer team, and more. For contacting support, an online contact form is the only method available. The lack of info on the developer and vendor raises doubts concerning the reliability of this EA.
With numerous automated trading tools available now in Forex trading, finding the best robot provider can be a daunting task. You need to look into various features like the strategy, trading results, support, etc. Fortunately, we have done most of the work for you and have come up with the list of best Forex robots. Have a look at our list to choose the robot of your choice easily.
Our initial analysis of the website reveals the following features that the developer, Chris Bernell focuses on:
- Trading results verified by the myfxbook site.
- Backtesting has been done for 10 years on different currency pairs.
- Use of scalping approach with asset weight management.
- The EA has strong filters for news events and ends the trades before the weekend for keeping the account safe.
- As per the developer, the FX robot does not use dangerous approaches like Grid or Martingale ensuring safe account growth.
When compared to other EA of similar scalping type, we can see that the vendor does not disclose much info on the features, working method, and approach used for the system.
To purchase this expert advisor, you get to choose from two pricing plans. A one-year membership plan costing $247 includes the software compatible with the MT4 platform, free updates, good customer support, best settings, and recommendations. The second pack is a lifetime membership that has a single upfront payment of $397. All other features are similar to both packages.
How it works
Once you choose from the packages present and make the payment, the next step is to download the software. After the download is complete, you can make use of the pre-installed default settings. The software is of plug-and-play type and comes with a big winning ratio. SL feature is set for every trade alongside the trailing stop position.
As the name of the EA implies, it uses the scalping approach. The developer Chris Bernell claims to use the night scalping approach alongside the asset weight management system. While the market takes care of the weight of the currency pairs via the asset weight management method, the scalping approach ensures the software is well-balanced for any given condition. Here is a screenshot of one of the backtests that the vendor provides.
From the above report, we find that the backtesting done for the USDCHF pair on the M15 timeframe for 10 years uses a modeling quality of 99.9%. A total net profit of 162236.72 is generated from an initial deposit of $1000.
The maximum drawdown is 25.60 and the profit factor is 1.93. Profitability of 70.43% is present for this account. The lot size used is 0.04. While the profits look decent, we find the drawdown is high. Furthermore, a good performance in the backtest does not imply you can get a similar result in real account trading.
Here is a real AUD account using the ICMarkets broker and the leverage of 1:500 on the MT4 platform.
From the trading stats, we can see the total profit is 613.2% and the absolute profit is 124.44%. The difference between the two values is very high indicating poor performance and ineffective trading strategy. Other values of importance in the account include the drawdown, which is 17.31%, 72% profitability and a profit factor of 1.68. For the account that started in June 2020, the total number of trades executed is 3259. The trading history reveals different lot sizes ranging from 0.01 to 0.10. From the varying lot size and discrepancy in the absolute and total profit levels, it is clear the approach is risky resulting in poor performance.
There are no user reviews for this EA on reputed sites like Forexpeacearmy, Trustpilot, etc. The lack of feedback reveals that this is not a well-known expert advisor.