Zen Scalper EA is a Forex expert advisor that claims to provide consistent profits with zero hassle and delay. The vendor also claims that the robot gives results faster compared to other systems. These days, there are several scam services where the vendor makes false promises. Thus, we need to analyze this system independently before we can deem it profitable.
From the presentation alone, this does not look like a trustworthy trading system. The vendor has made some claims about the system without describing the features or the working principle in detail. We have the link to a live trading account and the details of the pricing packages. The website also has an FAQ section where you can know more about the EA. There is no live chat feature for this webpage, but there is a contact form you can use to message the seller.
There is not enough information about the vendor selling this product, which is not a sign of reliability. We don’t know when the company was founded and what kind of products it manufactured in the past. The vendor fails to maintain transparency by not sharing the identities of the traders and developers. We have two separate email addresses for general and technical issues, but no official address is provided for the company headquarters. Due to the unprofessional presentation and the lack of vendor transparency, we don’t think you can expect high standards from this system.
There are three pricing plans for this expert advisor. The first one is a monthly plan for which you need to pay $59 every month. For the referral license plan, you don’t need to pay any money as long as you have a minimum of $3000 in your account.
With the lifetime access plan, you get full control of your EA in exchange for $249. Also, you can optimize the settings to suit your profit style. The vendor offers a 15-day money-back guarantee but only for the monthly license. This tells us that they are not confident about the long-term performance of the robot.
|Compatible Platforms||MT4, MT5|
|Recommended Min. Deposit||N/A|
Zen Scalper is a fully-automated Forex expert advisor that trades in the GBP/USD pairs. Since it is a scalping bot, you should use it for the M15 timeframe. Based on the EA settings, the lot size for each trade steadily increases as the account grows larger. The vendor recommends signing up with the FBS brokerage for best results.
This robot follows a scalping strategy, placing a large number of trades daily. Since it only generates small profits from each trade, the trading frequency is quite high. This makes the strategy suitable for beginners, who may find it a bit stressful.
From December 23, 2020, to October 26, 2021, the EA placed a total of 2093 trades. It had a win rate of 65% for this backtest, and generated a total profit of $24,663.90. While the profit factor for this test was 1.77, the drawdown was a bit high at 34.28%. This is an indication of a risky trading strategy.
This Myfxbook account for Zen Scalper EA was launched on October 01, 2021. It is impossible to gauge a system’s profitability based on such a small sample size of trades. Out of 235 trades, the EA has won 77%, which means it has a higher win rate compared to the backtest. While the daily and monthly gains for this account are 2.24% and 93.17% respectively, the drawdown is 14.66%. The profit factor is 3.89 while the total profit is $10087.23.
There are no customer reviews for this expert advisor on third-party websites like Forexpeacearmy, Myfxbook, Quora, and Trustpilot. This is hardly surprising since most traders won’t consider investing in a system with such a short trading history.