DynaScalp is an expert advisor promoted by the LeapFX group. It claims to use a breakthrough scalping method that ensures profitable trades. As per the creator of this system, Chris Bernell, the MT4 tool has made huge returns with very low risk. Bernell claims that the FX EA can provide triple-digit gains even for traders without any trading experience.
DynaScalp trading strategy
As per Bernell, this FX EA utilizes asset weight for retaining profits. The ATS focuses more on the relevant pairs during a particular span and less on the pairs that are not relevant. Due to this approach, the well-performing pairs increase the profit covering the losses made by the other pairs. The developer uses a blend of night scalping and management of currency pair weight in such a way that the approach self-balances based on the prevailing market conditions. We find the explanation is insufficient to know about the efficacy of the system.
DynaScalp backtesting report
Several backtesting reports are present on the official site. Here is one of the strategy tester reports of this FX robot.
From the test result, we can see that an M15 timeframe was used. A deposit of $1000 was used for which the MT4 tool had generated a net profit of 823.61. A profitability of 71.39% and a profit factor value of 1.51 were present. The maximum drawdown for the account was 12.15%. On weighing the results, we find the takings were low indicating an unsuccessful approach and poor results.
DynaScalp live results
We found a real live verified account for this expert advisor. The account using the leverage of 1:500 on the MT4 terminal is shown here.
A total profit of 750.74% and an absolute profit of 74.52% is present for the account that started in June 2020. The inconsistency in the values looks suspicious and indicates a risky strategy. A drawdown of 17.31% is present for the account for a total of 3673 trades. Profitability is 72% and the profit factor value is 1.82. Variable lot sizes ranging from 0.02 to 0.11 are used. The varying lot sizes and high drawdown indicate a dangerous strategy. Compared to the backtesting results the results in the real account are not as good showing an unsuccessful trading method.
Some features of DynaScalp
As per the developer, this FX EA can work on the following currency pairs:
This EA does not use risky methods like the Grid or Martingale. It uses strong filters and trades are closed before the weekends to secure the capital. Ideal settings are present in the software making it highly convenient and efficient as per the developer. A smart trailing stop is present. We could not find info on the time frame, recommended deposit, brokers, leverage, etc. The lack of info raises doubts regarding the reliability of this EA.
|Average monthly gain||14.38%|
|Price||$247 – $397|
|Recommended brokers||IC Markets|
|Currency pairs||15 currency pairs|
Main things that make DynaScalp an unreliable EA
Our analysis of this FX EA reveals a few major downsides that make it an unfeasible system. Here are the risks you face:
1) Dangerous approach
From the backtesting results and real trading stats, we can see the EA uses a risky strategy. Despite a drawdown below 20%, the big lot size and discrepancy in the returns indicate the EA uses a high-risk strategy.
2) Zero vendor transparency
Other than the mention of the developer, vendor information cannot be found. Details like a location address, phone number, etc. are not present. An online contact form is the only support method present. The lack of vendor transparency raises a red flag.
The cost of this FX robot ranges from $247 to $397. Included in the packages are the MT4 compatible software, best trade settings, free updates, customer support, best recommendations, and a 30-day money-back assurance. When compared to other competitor systems, the cost is expensive and not worth it.
We could not find user reviews for this FX robot on reputed sites like Forexpeacearmy, Trustpilot, etc. The lack of feedback indicates this is not a popular product in the market.