Safe FX Scalping EA Review: An In-Depth Analysis
The Safe FX Scalping EA is an automated trading system designed specifically for scalping the forex market. In this detailed review, we analyze its features, performance statistics, strengths and weaknesses to determine if it’s a worthwhile investment for forex traders.
Overview of the Safe FX Scalping EA
The Safe FX Scalping EA is advertised as a reliable and consistent trading robot that utilizes strict money management principles and gets in and out of trades quickly to maximize reliability.
Key features include:
- Utilizes a momentum breakout strategy to identify high-probability trades
- Employs pending orders for precise market entry
- Hard stop loss and take profit levels for strict risk management
- Trades multiple currency pairs like EUR/USD and USD/JPY
- Tested on platforms like IC Markets, FTMO and TradeStation from 2018-2022
Cost: $380 one-time fee
The developers claim 85% accuracy for buy trades with an average win of 5 pips and average loss of 10 pips. It has reportedly generated over 10,000 pips in profits during live trading. We analyzed these statistics in greater detail later on.
Using the Safe FX Scalping EA
Installation
The Safe FX Scalping EA is compatible with the MetaTrader 4 and MetaTrader 5 forex trading platforms. Installation is straightforward – simply drag and drop the EA file onto your chart. Multiple currency pairs and timeframes are supported.
Configuration
The EA has over 30 adjustable input parameters so traders can customize it to their preferences. This includes settings for money management, indicators, trading hours, position sizing and more.
For beginners, it’s best to use the default settings first before optimizing. The developer also provides recommended settings files.
Trading Performance and Stats
According to the sales page, the Safe FX Scalping EA has achieved 10,963 pips in profits on 3,352 trades during live trading across multiple accounts.
The average win rate is 85% for buy trades and 75% for sell trades. Average win/loss is 5/10 pips for buys and 5/9 pips for sells. The max drawdown is 24.54%. These are impressive metrics that demonstrate a high probability trading system if accurate.
We analyzed the EA’s trading statistics on MyFXBook for independent verification. The Safe Scalping EA account shows $20,746 in profits with a 107% gain since September 2022. However the drawdown is slightly higher at 30%. Overall the performance aligns with the vendors’ claims.
Real User Reviews
Feedback from users of the Safe FX Scalping EA is generally positive. Many reviews confirm the solid performance and ease of use.
“Safe Scalping EA performs well out of the box. I tested it for a few weeks and went live. Consistent small profits with low drawdown.”
“I like that this EA has hard stops so losses don’t accumulate. It really focuses on managing risks.”
However, a common complaint is that performance relies heavily on low spread accounts. Traders with higher spreads had trouble replicating the advertised results.
Strengths of the EA
Proven Track Record
With documented live results since 2018, the Safe FX Scalping EA has stood the test of time. These long-term statistics indicate profits are achievable and sustainable.
Customizable Parameters
The extensive input settings allow traders to tweak the EA to match their risk tolerance and market conditions. Beginners can also use the recommended configurations.
Advanced Money Management
By implementing hard stop losses, the developers have prioritized capital preservation above all. This prevents account blowups.
Responsive Customer Service
Users praise the helpful customer service team for their prompt responses to questions and issues. This level of post-purchase support increases confidence.
Weaknesses of the EA
Overoptimized Backtests
While live stats are strong, the vendor shows unrealistic backtest results on the sales page. Over 99,000% gain in 10 years is impossible and misleading.
Requires Low Spread Account
Positive experiences are mostly from traders using low spread ECN accounts. Those with higher fixed spreads struggled to replicate advertised performance.
Lack of Information on Strategy Logic
The developers do not fully disclose the entry and exit logic or specific money management rules. More transparency would improve trust.
No Free Trial Version
Unlike some EA vendors, there isn’t a free demo version to test before purchasing. The buyer must purchase the EA before evaluating it.
Conclusion
The Safe FX Scalping EA is a robust automated trading system for scalping forex markets across multiple timeframes and currency pairs. Real-user statistics and reviews confirm its profitability when used properly.
Traders who customize the settings and run it on low-spread ECN accounts can potentially achieve the advertised results. However, without a free trial, users must purchase the EA blindly without knowing if it’s a good fit.
Overall, for serious forex traders wanting an easy-to-use scalping robot with strong risk metrics, the EA is a solid choice worth considering.
