In this post I will be reviewing the Quick Scalp Trader EA from the LeapFX team. This is a fully automated forex trading system that you can attach to the charts in your MetaTrader 4 platform and it will automatically scan the forex market for trading signals. When the Quick Scalp Trader expert advisor finds a possible trade setup, it can place, manage and exit the trade on your behalf. Whilst this does make it an attractive proposition to those of you who may not have the time or knowledge required to trade manually, there are some very important pros and cons of using this or any other forex robot for that matter. In this Quick Scalp Trader Review, I will take a look at the forex trading system that it incorporates, along with any back tests and live results shared by the developers.
This is yet another forex robot from the LeapFX team whose other forex software I have previously reviewed, including Funnel Trader, Trade Explorer, AX Trader, DynaScalp, News Action Trader, Jet Trader Pro, Gold Trader, Arbitron, Econ Power Trader, Automic Trader, Auto Arb, Fund Trader, Easy Money X-Ray Robot, Skilled Trader, Pattern Trader Pro, Trend Hunter Robot, The Money Tree Robot, Wave Scalper EA, Dax Day Trader and InstantEA. You can tell from the vast number of forex products that they have available they certainly have some experience. However, many years in the forex industry has taught me that does not exactly equal results.
Quick Scalp Trader Trading Strategy
The Quick Scalp Trader EA was designed to function much different than normal scalpers in order for it to be possible to work on most brokers with average spreads and average execution times, while adding in some unique features. However, I didn’t find it to be much different to most forex scalping robots that I find are always very sensitive to broker conditions..
- Runs on EUR/USD and GBP/USD On H1 Timeframe
- Identifies Trend with Optimized Moving Averages, Then Determines Entry Based on Fractals and Candlestick Movement
- No Grid, No Cost Averaging, 1 Trade at A Time Per Currency Pair
- FIFO Compliant, No Hedging, Compatible with All Leverage Accounts
- Trailing Stop That Can Lock in Trades Rapidly
- Trades Last A Few Hours on Average, Not Days
In order to have the best possible chances of success with the Quick Scalp Trader EA or any other forex scalping strategy for that matter, you will certainly need to be using a broker that has tight spreads, low commission fees and quick trade execution speeds. The difference between brokers can cause a winning strategy to be a losing one, that is how important these factors are with trading systems that trade such small pip movements.
IC Markets are my top choice for running forex robots that use scalping strategies. This is because they have lots of liquidity providers which ensures deep liquidity pools. Plenty of liuqidity means that you can get your orders matched to some of the best bid/ask prices at all times.
Quick Scalp Trader Features
Trades Almost Everyday
Generally, there are trades almost every day, with a few days here and there of no trades, such as on days of extremely low volatility. This is one of the main things that attracts traders to scalping systems if they like lots of trade activity.
Short Term Trades
Most trades are closed out within just a few hours, giving you less exposure and risk to strong market movements. However, there can still be unexpected events that cause extreme volatility and you will find that the Quick Scalp Trader EA can have some substantial losses if you are not careful.
All Account Sizes
You can use almost any account size; the system is flexible with no minimums required. You can also choose any forex broker, but as mentioned above, the lower the spreads the better in general.
Trades Multiple Pairs
Trading more currency pairs means more trade opportunities, but you should make sure that you spread the risk accordingly. When using a scalping system, I would prefer to use major currency pairs that have lots of liquidity such as the EUR/USD and GBP/USD. This is because the high volume means that they tend to have lower spreads when compared to more exotic currency pairs.
Quick Scalp Trader Back Testing
Granted, you can find some Quick Scalp Trader EA back tests on the website that might look good on the surface, but there are some issues when you take a close look. Firstly, they have only been conducted over a limited period of time. The historical data covers just a few years which I do not think is anywhere near enough to give us a clear indication on how the EA may have performed historically speaking.
In addition to this, the back-testing conditions do not include variable spreads, commissions or real tick data. These are all very important things that could have a significant impact on the results of a scalping strategy. For that reason, I would not take these back tests into consideration. You could always check the Forex Flex EA for 99% modelling quality back tests.
Quick Scalp Trader Results
It is good to see that the LeapFX team have shared some Quick Scalp Trader EA results that have been verified by a third-party in Myfxbook. However, it is very disappointing to see that the results have not been updated for years now. Therefore, we have no way to see how the Quick Scalp Trader robot is doing in today’s market. For more up to date results, you might want to take a look at the Forex Robotron EA as an alternative option.
Furthermore, the drawdown on the Quick Scalp Trader account at the time it was trading is very high. This makes me feel that there is significant room for the developers to improve the money management of this particular EA. That is not always easy to do with a scalping robot, simply because a tighter stop loss and wider take profit can reduce the win rate to a point where the system is much worse off.
To see the latest live verified trading account performance of all forex robots please visit my best forex robots results page.
Quick Scalp Trader Summary
Overall, I think there are much better forex robots out there. Scalping the forex market is a very difficult thing to do and can depend on so many factors, most importantly the broker conditions. There are very limited back tests provided and the verified account running the Quick Scalp Trader EA has not been updated for years. If you are keen to give it a try regardless, then I would only do so on a demo account. The problem with that is demo account conditions are not going to be the same as what you get on a real live account, and therefore might give unrealistic expectations. It does come with full support, updates, instructions and a money back guarantee.
Quick Scalp Trader EA
$297
Pros
- Fully Automated Scalping Robot
- Customisable Settings
- Combination of Market Analysis
- Detailed Instructions
- Free Updates
- Full Support
- Money Back Guarantee
- Verified Results
- Back Tests
Cons
- Results Not Updated
- High Drawdowns
- Limited Back Test Quality
- MetaTrader 4 Only
- Broker Sensitive
Self-confessed Forex Geek spending my days researching and testing everything forex related. I have many years of experience in the forex industry having reviewed thousands of forex robots, brokers, strategies, courses and more. I share my knowledge with you for free to help you learn more about the crazy world of forex trading! Read more about me.
