Jabrix Scalper is a new Forex scalping expert advisor built for the MT5 platform. Originally released on the 21st of April, 2020, the software is now up to version 2.2 with the most recent update coming on June 9th, 2020. It’s being sold for $1000, but does come with a free demo for traders that want to test it, before they spend such a big chunk of change. Generally, we prefer our robots to be priced in the $200 range, and haven’t had success with exorbitantly priced systems in the past.
The software is owned and operated by Eko Rahmadi, a sole proprietor located in Indonesia. Eko claims to be a professional MQL programmer “with more than 10 years of experience.” He’s completed 55 jobs in the MQL5 freelance section with mostly 5 star ratings, and is selling only one product of his own. It’s good to see that he’s focused on just the one project, because we find many of the developers in the MQL marketplace overextend themselves and end up failing.
To get in touch with support, traders can send a message through Eko’s MQL5 profile.
Jabrix Scalper Review
The Jabrix Scalper sales page consists of a short description, some recommendations, the parameters, client feedback and a handful of comments.
The parameters consist of magic number, stoploss, trailing start, trailingstop,volatilethreshold, powerthreshold, autolots, risk, fixlots and distance Pending from current price in pips. The majority of these parameters can be seen in most robots, and with only 10 different settings to change, the system should be easy to test. Over time, we expect more parameters to be added, but it’s a good starting point.
The trading strategy is based on “using dynamic algorithms” to observe price moments and capture volatility. Eko feels that this approach really sets the Jabrix Scalper apart from other systems in 2020. In recent times, he’s shifted the methodology from scalping to a scalping and hedging hybrid. This means that in order to use the software, traders have to have a hedging brokerage account, which is not FIFO compliant. So, if you live in the US, you will be unable to use the robot.
We are always interested in scalping systems, as the best Forex robots currently available both utilize scalping principles. Though, we are unsure if the introduction of hedging in 2020 is going to pan out the way the developer hopes that it will.
- Type: Forex Robot
- Price: $1000
- Strategy: Scalping / Hedging
- Timeframe: M1
- Pairs: EURUSD, GBPUSD, USDJPY and USDCAD
For traders interested in the Jabrix Scalper, it is currently being offered for $1000. This is a very high price, and Eko is using a pricing model where after each 5 sales, the price goes up another $100. Considering the best robots in this market are price around $200, it is very difficult to consider spending $800 more for something with less of a proven track record.
On a positive note, they do provide a free demo. We do recommend that if you are interested in purchasing the software, that you demo it for at least 3 months and have complete confidence before you purchase.
There are currently 9 client reviews for the Jabrix Scalper. 6 of them are 5 star reviews, and the other 3 are negative. The main complaint seems to about the large drawdowns that appear to be occurring when the software is holding a handful of trades open.
The service also offers a telegram channel where Eko provides more information about the EA and gives updates on what’s going on. A week ago he discussed that he’s been sick so he hasn’t been able to update the robot. He goes on to tell the community that he’s disappointed with the bad reviews, and that if he continues to see bad reviews he won’t update the robot. This is a strange threat, and shows that the developer is quite emotional when it comes to his product.
There are no Myfxbook or FX Blue accounts available, but the Jabrix Scalper is in action in the MQL5 signals section. Here we can see that the system is showing a 7% gain in 7 weeks on a live account. This low risk account has a drawdown of 6.7% over 93 trades. It’s currently winning 69.89% of its trades with the average win coming in at 2.99 and average loss at -5.75.
The trading results show slow, minor gains, but based on how the clients talk about the software, it can obviously be used in a much more aggressive manner. The system’s approach is similar to other robots we’ve reviewed recently including Trend Profiteer, New Hope EA and Your Algo.
The Jabrix Scalper is an interesting new expert advisor, but at its current price point of $1000, we have very little interest. In order for us to truly become interested in the software, we would have to see better results and a lower price.
If you have anything you would like to add to the review, please comment below now.