Elite Forex Scalper is another scalping trading software from a no-name company. The presentation welcomes us with the fact that for the first three months, 98% of all-news traders burn their accounts.
![Elite Forex Scalper presentation](https://forexeatop.com/mdbank/2020/11/Elite-Forex-Scalper14.png)
As we can see, there’s a team of professionals that doesn’t reveal their profiles. It sounds like manipulation.
Elite Forex Scalper Features
![Elite Forex Scalper Features](https://forexeatop.com/mdbank/2020/11/Elite-Forex-Scalper18.png)
Let’s figure out what features the EA has:
- The robot was designed to work on the MetaTrader 4 platform.
- It has a money-management system that allows decreasing drawdowns and avoiding long-term drawdown periods.
- The robot lets putting emotional and other human cons aside from trading.
- The money-management system calculates Lot Sizes according to the risks we want to follow.
- It fits all types of traders and all experience levels.
- The EA is beginner-friendly, so we can start trading without previous experience.
- It has an Economic News Release Proof (?) feature. Does this mean that there’s a News filter?
Pricing
![Elite Forex Scalper Pricing](https://forexeatop.com/mdbank/2020/11/Elite-Forex-Scalper9.png)
![Elite Forex Scalper Pricing](https://forexeatop.com/mdbank/2020/11/Elite-Forex-Scalper4.png)
![Elite Forex Scalper packages](https://forexeatop.com/mdbank/2020/11/Elite-Forex-Scalper2.png)
There are two packages: free and paid ones. To get the EA for free, we have to create a real USD account, using their referral link on FBS, XM, or EFS brokers and funding it at $3000. This pack is featured only by one real license. The paid one costs $250 and includes:
- Three licenses: one real and two demo ones.
- Lifetime access (to what?).
- Access to files (what files?).
- Welcome support.
- Free of minimum balance restrictions.
- Free to go with any broker.
- Assistance with installation (probably, there’d be user manuals, and so on).
How it works
To make the EA work properly we have to follow some simple steps:
- The robot has to trade through MT4.
- The robot requires VPS to work all day long with little latency.
- The leverage to trade well has to be 1:500 or higher.
- The minimal balance should be from $300 to up to $500.
- There are two opposite recommendations about stable margin requirements: $1000-$3000 for a Standard account and $10000 for a cent one. It’s unclear.
Trading Strategy
The EA performs a mix of riskiest strategies:
- Scalping.
- Grid.
- Martingale.
- Hedging.
Trading Results
![Elite Forex Scalper Trading Results](https://forexeatop.com/mdbank/2020/11/Elite-Forex-Scalper19.png)
There’s a wall of real and demo accounts that were stopped one, two, three years ago.
![Elite Forex Scalper Myfxbook](https://forexeatop.com/mdbank/2020/11/Elite-Forex-Scalper15.png)
We’ve chosen a real USD one where the EA works now. It trades on an FBS broker automatically, using technical indicators with 1:500 leverage on the MetaTrader 4 platform. This account’s track record is not verified, so there could be removed parts of trading activities. The account has a huge lack of transparency and doesn’t look like one that belongs to a vendor who wants to convince people to invest in the EA. The account was created on December 01, 2019. Since then, the absolute gain has become +98.95%. An average monthly gain is +6.03%. The maximum drawdown was 14.09%.
![Elite Forex Scalper advanced statistics](https://forexeatop.com/mdbank/2020/11/Elite-Forex-Scalper7.png)
The EA performed 5892 deals with little pips (5450). An average win (17.63 pips) is more than two times less than an average loss (-40.88 pips). The win-rate for Long trades is 73%, for Shorts – 68%. An average trade length is over seventeen hours. The Profit Factor is 2.26.
![Elite Forex Scalper trading results](https://forexeatop.com/mdbank/2020/11/Elite-Forex-Scalper10.png)
From the direction chart, we can see that the robot couldn’t trade the Short direction profitably. For EUR/USD, it forced a total loss in pips (-807.2). Only four wins on Gold helped this account not to be zeroed.
![Elite Forex Scalper trading results](https://forexeatop.com/mdbank/2020/11/Elite-Forex-Scalper1.png)
The robot trades a bit during the last hours of the Asian session and focuses on opening trades during a European session.
![Elite Forex Scalper trading results](https://forexeatop.com/mdbank/2020/11/Elite-Forex-Scalper20.png)
It trades all days equally during a week.
![Elite Forex Scalper trading results](https://forexeatop.com/mdbank/2020/11/Elite-Forex-Scalper17.png)
The account is run with the lowest possible risks to the account balance.
![Elite Forex Scalper trading results](https://forexeatop.com/mdbank/2020/11/Elite-Forex-Scalper8.png)
As we can see from the duration chart, the deals that were on the market longer than one and a half-day weren’t profitable mostly.
![Elite Forex Scalper trading results](https://forexeatop.com/mdbank/2020/11/Elite-Forex-Scalper12.png)
The last results looked strange because the EA jumped from 0.45 to 0.52 and, after that, to 0.60 Lot Sizes than to 0.45-0.52 back. It’s weird behavior for the money-management system that wasn’t explained.
![Elite Forex Scalper trading results](https://forexeatop.com/mdbank/2020/11/Elite-Forex-Scalper5.png)
Sometimes grid deals are closed with significant losses of pips.
![Elite Forex Scalper monthly gain](https://forexeatop.com/mdbank/2020/11/Elite-Forex-Scalper13.png)
This year showed that the robot is a profitable expert advisor.
Customer Reviews
![Elite Forex Scalper Customer Reviews](https://forexeatop.com/mdbank/2020/11/Elite-Forex-Scalper6.png)
The site includes customer reviews, stylized smartphone texts.
![Elite Forex Scalper Customer Reviews](https://forexeatop.com/mdbank/2020/11/Elite-Forex-Scalper16.png)
The company has a channel in Telegram with 8471 followers on the board.