Belkaglazer EA Review

Nov 25, 2020 02:51 PM ET
Belkaglazer EA Review

Concentrating on traders who are in search of expert advisors with multiple trading methods, Belkaglazer EA claims to be a complex system. With different markets and four trading strategies, the system claims to use customized trading methods based on the files set and the trade settings. Is this automated system as effective as it claims? Is this a trusted system? Read our Belkaglazer EA review and our recommendation to know whether this Forex robot is the right automated trading system you should go for.

Belkaglazer EA


Fully-automated EA




Mean-reversion, Momentum, Breakout

Compatible Platforms

MT4, MT5

Currency Pairs




Recommended Min. Deposit


Recommended Deposit





Trading Strategy Explanation

Belkaglazer EA Trading Strategy Explanation

Using four different models for generating a signal and multiple filters, Belkaglazer EA attempts to use as many strategies as it can for trading effectiveness. But, too many strategies can be confusing for the average trader.

It is difficult to find a specific setting that works with such a type of customization. Some of the main features used include the CBOE VIX filter, news filter, and GMT offset filter. The vendor claims that the strategies used do not include Martingale, hedging, grid, and other such high-risk methods.

We could not find any information about the vendor or the team behind the system. Thus, it is difficult to assess the reputability and reliability of the system. Furthermore, the website design is pretty basic with links given for the trading results and signals. This indicates a lack of commitment on the part of the vendor.

Backtest Data Analysis

According to the developer the system has been backtested using a modeling quality of 99.9% and with a variable spread. Results from the backtest shown below are for a duration of 12 months and they indicate a drawdown of 27.35%.

A total of 690 trades have been completed over this span and the vendor claims that the results match with the real account trading results. However, you need to remember that this is just historical data that cannot predict future performance accurately.

Belkaglazer EA Backtest Data Analysis

Live Trading Data Analysis

Belkaglazer EA Myfxbook

From the performance results verified on the Myfxbook site, we could see that the expert advisor has a real and active automated trading account. With a leverage of 1:500, the MT4 compatible automated system shows a gain percent of 208.75%.

Trading Results

Myfxbook Account

Real (USD), IC Markets


Oct 30, 2017















A drawdown value of 12.48% is displayed, along with a daily and a monthly gain of 0.01% and 3.10% respectively. Although the drawdown looks alright the gains are not that appreciable. We also noticed a low profit factor of 1.27 and the minimal gains or dismal losses that had resulted in a steep fall in the rate.

Belkaglazer EA trading results

Pricing & Refund

Belkaglazer EA is available for purchase only via the MQL5 market site and includes two different packages namely the MT4 and MT5 compatible packs. Both cost $499 each. There is no mention of a money-back guarantee by the vendor, which raises a red flag. Generally, the refund option provided by vendors is to assure users of the reliability of the product.

The expensive price tag and absence of a refund makes the package lose its appeal. With alternative options available in the market at a lower price tag and with money-back offers along with appreciable results, we doubt there will be that many takers for this expert advisor.

Customer reviews

We could not find any user feedback for this automated Forex trading system. Without user feedback, it is not possible to evaluate the performance of a system. With just the trading results provided by the vendor, we could not assess the efficacy of the Forex robot. We feel that the expensive price and complex trading strategies used deter users from considering this system.

Review Summary


  • No pros


  • Lack of vendor transparency 

  • Poor trading results

  • High price

  • No customer reviews

Conclusion & Rating

Wrapping up our review of Belkaglazer EA, we do not find the system an efficient or effective one. From the backtests and live account results it is clear that the system is not up to par with what an average trader will expect. Lack of vendor transparency further confirms our suspicions about the effectiveness of this Forex robot.

Too many strategies, trading markets, and methods employed in this system can be overwhelming for new traders. Furthermore, the expensive price and absence of user feedback end up making this system the least trusted one. We would not recommend this expert advisor.

Rating: 2/5

  • Features: 3/5
  • Performance: 3/5
  • Customer feedback: 1/5
  • Price: 3/5

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