FrankoScalp EA Review and use results
What is FrankoScalp EA
FrankoScalp EA is an Expert Adviser, sold at MQL5.
The feature of this EA is that the currency pair USDCHF and EURCHF show good results.
In conclusion, it is better not to use this EA.
I will explain the reason as follows.
FrankoScalp Live Performance
The results of this EA published on myfxbook are very good.
You can check the trading results of real account on the myfxbook or MQL5 signal page.
Since starting trading in 2015, it has achieved a relatively stable average monthly interest rate of about 9%.
However, do not trust the published results.
There are some problems with this EA.
1. Published account is cent account
Trade results of Alpari’s NANO account (cent account) are published on myfxbook.
The cent account has a small trading volume.
Therefore, when dealing with a large balance, it is affected by slippage etc.
If you run it with a regular USD account, you may not get the same result as the public result of myfxbook.
2. Only fixed spread accounts work well
This EA basically seems to work well with fixed spread accounts.
The good brokers that offer fixed spread accounts are very limited.
And, as I will explain later, it won’t work properly on fixed spread accounts.
3. Affected by slippage due to scalping EA
FrankoScalp is a scalping EA that performs take profit and stop loss with less than 10 pips.
Alpari NANO account may work well. However, due to slippage, accounts with large balances may not be profitable.
My results of FrankoScalp
I actually purchased FrankoScalp and ran it with a fixed spread real account and demo account.
TRADERSWAY – Demo
It is just demo account.
For about a month, I set this EA to 2 currency pairs USDCHF, EURCHF.
Since I got about 10% profit in a month, I decided to move to real account.
TRADERSWAY – Real
I set EA to 2 currency pairs USDCHF, EURCHF, with a real account deposited about 900USD.
However, due to server error this EA did not work.
Several weeks after setting the EA, there was a trade once. As a result, loss of about 20 pips occurred.
After that there were a few trades, but all lost.
When I asked the TRADERSWAY support team, they answered, “There is nothing wrong with the function of the account, and you should contact EA developer.”
Since it was troublesome to contact the developer, I have stopped running the EA.
EASY MARKET – Demo
I set the EA, but there was no trade.
This EA does not seem to work with this broker’s account
IFC MARKET – Demo
During the first month, it was operating smoothly, with a profit of around 10%.
Suddenly, however, lost repeatedly and big drawdown occurred.
FrankoScalp may work fine with Alpari Nano accounts, but other accounts are less likely to make a profit.
Since the Alpari Nano account is a cent account, we can not aim for big profits.
I do not recommend purchasing this EA.