For $299-$399, you can get Apex Scalper EA. However, the concern is that the developer can’t demonstrate the worth of this robot through a myfxbook or FXblue account. Looks like a totally worthless robot. You could instead choose these myfxbook tested robots for your trading.
Welcome to the Apex Scalper EA review. Apex Scalper EA is a product of Cutting Edge Forex LLC whose website can be found at cuttingedgeforex.com. Cutting Edge Forex is only associated with one entity called Joseph Smith. So I presume that this is a one man operation.
Cutting Edge Forex has produced a couple of trading products which are sold on their official website and also on the popular Forex products marketplace, MQL5.
These include Legend, Velocity Expert Advisor, Ascent II and Sentry. All of these trading products are overpriced with Apex Scalper EA being the cheapest in all of them.
The price is $399 (when purchased through MQL5) and $299 (when purchased through Click2Sell).
According to Cutting Edge Forex, Apex Scalper EA detects supply and demand areas on a chart in order to place orders based on price action.
Price action is a valid way of trading the Forex market if you have a strategy. I have been trading using Price Action for a very long time. You can order my Price Action Course here or utilize any of these Forex expert advisors whose operations are based on the concept of Price Action.
The developer of Apex Scalper EA also offers both free and paid signals which customers can copy from their MQL5 profile.
This essentially means that traders can copy Apex Scalper EA signals for free, plus there is also a demo to test this expert advisor before deciding to buy it.
Paid signals are also available for the other Cutting Edge Forex products for the price of $99.
So the question is, should you trust Apex Scalper EA? I have done a comprehensive analysis of this trading robot, and this is my summary of what I have found out.
Apex Scalper EA Review
Cutting Edge Forex reassures traders that this robot never uses risky trading strategies like Grid, Martingale, Arbitrage or Hedging.
Most developers state these things on their website but until you have a chance to test the robot, you can never know whether these claims are true.
If you must test this robot, I implore you to take advantage of the demo. The downside is that you will invest a lot of time into testing and analyzing which pairs work well with Apex Scalper EA. Anything below 6 months of testing won’t give you an accurate picture of the true capability of this robot.
Good news is that you can spare yourself the headache by just picking any of these Forex robots which I have personally vetted and listed here as safe for use.
Apex Scalper Expert Advisor was first published on 13th July 2017 and updated in November 2018.
Cutting Edge Forex does not appear to be taking updates very seriously, and I think one of the reasons why this is so is because they have other products to focus on.
The downside of purchasing a robot from such a developer is that your robot will quickly run out of its usefulness if the developer can’t keep it updated.
Cutting Edge Forex has listed a number of features which are supposed to give Apex Scalper Expert Advisor an edge. I will quickly list them here for your reference.
Apex Scalper Expert Advisor features
The algorithm comes with an intelligent exit mechanism for break-even loss prevention, Multiple Target Profit Exit and Smart Trailing Stop.
Now, for the safety features, the developer tells us that Apex Scalper Expert Advisor comes with a volatility protection to shield your trades from excess volatility if it exceeds the 1 minute time frame, Toxic Spread Protection (when spreads are unfavorable) and Broken Trade Check (to ensure that no trade is left unprotected).
The default settings for Apex Scalper are optimize for GBPUSD pair.
Apex Scalper works on the 1 hour time frame. Other than these features, the developer has a couple of back tests on their official website and also on the MQL5 platform.
They have tested Apex Scalper Expert Advisor on pairs like EURUSD (2011-2018) and USDJPY (1 year) with 99% tick modeling quality which basically reflects real market situations like volatility, spreads and so on.
For optimal results with Apex Scalper EA, traders are advised to invest in a VPS service whose servers are located close to your broker.
Apex Scalper trading results
The developer has not provided their audited trading results with this expert advisor except back tests.
The problem with backtests is that they can’t always bring the same results as those in a live market situation. That’s why I always insist that whatever robot you buy, make sure the developer can demonstrate its performance on a verified myfxbook account.
As it currently stands, Apex Scalper Expert Advisor does not have any third party audited trading results.
Apex Scalper reviews – customer feedback
On their MQL5 profile, there are 2 reviews and 53 comments. One trader rated it with one star claiming that back test results were different from real account trading results. This is the same issue I pointed above.
The second user claims that this scalper is stable but since there is no myfxbook results to judge the long term stability of this robot, I can’t really believe the claims of this user.
With regard to the 53 comments of other users, I can see that these comments are generally inquiring into the various issues related to this robot and are not in any way endorsing Apex Scalper.
I have to be persuaded by trading results in a live market scenario to be convinced that Apex Scalper is worth $299-$399. Otherwise, how else will I know that this robot is even capable of recovering my initial investment?
I would take advantage of the free demo to test the robot’s performance, but only if I have the time to devote to this testing.
In my opinion, our work would be easier if there was a myfxbook account provided on the developer’s website. This is the case with Euro Scalper Pro and many other Forex robots which I have discredited here.
Now, I want to hear your remarks too. If you have used Apex Scalper EA for some time, drop us a comment here.