DynaScalp is an expert advisor that promises profits of 5X to 10X of your investment in a very short span. As per the vendor, the EA has generated more than 500% profit with a low drawdown in a considerably shorter period. This is a super scalper trading software that spots profitable opportunities regularly and executes successful trades.
As per the developer, Chris Bernell, this ATS was designed to work on 15 currency pairs. From the website info, we can see that the design is simple with no additional sections present for features like support, contact, etc. While all the features are explained on a single page, we find navigating up and down for info is frustrating.
Other than the mention of Chris Bernell, we could not find info on the developer or the LeapFX team that promotes this EA. The lack of vendor info raises a red flag. Furthermore, we could not find info like the location address, phone number, registration details, etc. For support, an online contact form is the only method available. We find vendor transparency is lacking in this EA.
|Price||$247 to $397|
|Currency Pairs||15 currency pairs|
|Recommended Min. Deposit||$1000|
To purchase this FX EA, you need to choose from the two subscription packages. For a single-year membership of the MT4 account of this EA, the cost is $247. If you opt for a lifetime membership, the cost is $397. Important features included in the packages are a license for the MT4 platform, customer support, the best recommendations, and a 30-day money-back guarantee. When compared to the prevailing pricing for similar expert advisors available now, we find the price is expensive and not worth it.
As per the developer, this EA uses a scalping strategy named asset weight management. This involves combining the asset weight management system with a night scalping approach that can provide a higher winning ratio. Control over the currency pairs in a portfolio rests mainly with the market while the FX EA and its strategy self-balances based on the present conditions. While the asset participation is set at the beginning for the currency pairs you trade, the updates are done based on the performance result. So only the profitable pairs are focused on and the underperforming pairs get reduced participation. The currency pairs this EA works on is shown in the image below:
We could not find the timeframe used and the recommendations by the vendor. Some of the features the developer reveals are the use of news filters and the closing of trades by Friday to protect the account. The best settings are inbuilt and this FX EA claims to scalp with a high win ratio. SL is present for all trades and a trailing stop is also present.
Backtesting results are present for the currency pairs this FX robot works on. Here is one of the strategy tester reports for the XAUUSD pair done over 10 years in the M15 timeframe.
From the above report, we can see a total profit of 823.61 is generated for a deposit of $1000. A maximal drawdown of 12.15% and a profit factor of 1.51 are present for this account. Profitability is 71.39%. Modeling quality of 99.9% is used for this account. While the drawdown is not high, the profits are low indicating poor performance.
A real AUD account using the IC Markets broker and the leverage of 1:500 on the MT4 platform verified by the myfxbook site is shown by the developer. The trading results of the medium-risk account is shown below:
From the above stats, we can see the total profit is 613.2% and the absolute profit is 124.44%. We are suspicious of the huge difference between the two values which indicate the approach used is risky. Other stats of this account include a drawdown of 17.31% and a daily and monthly profit of 0.47% and 15.21% respectively. A total of 3259 trades have been executed with a profitability of 72% and a profit factor of 1.68.
From the trading history, we can see the lot size used varies from 0.02 up to 0.10. The varying lot sizes and discrepancy in the absolute and total profit values indicate the performance is not as good as the vendor claims and that a high-risk approach is used.
We could not find user feedback for this FX EA on reputed sites like Forexpeacearmy, Trustpilot, etc. The absence of reviews indicates this is not a popular FX robot among traders.