Gold Million Review

Jan 17, 2022 09:56 AM ET
Gold Million Review

Gold Million is an expert advisor that trades gold. The vendor indicates that it is very easy to use, and all unnecessary parameters are hidden for easy installation. So, all you need to do is to select the correct risk and activate the robot. 

Aleksei Bordak is the person behind this EA. He is a professional algorithm developer who has been working in the Forex and crypto currency markets for 15 years now. Aleksei purports to have created hundreds of algorithms, both successful and unsuccessful, and even earned his first million by trading Gold. This is why he has decided to share this tool with traders so that they can attain similar experiences. 

Gold Million

Type

Fully-automated EA

Price

$1500, $500, and $1000

Strategy

Hedge

Compatible platforms

MT4, MT5

Currency pairs

XAUUSD

Timeframe

H1

Recommended minimum deposit

N/A

Recommended deposit

N/A

Leverage

1:100 and higher

Trading strategy explanation

The vendor does not tell us which strategy his robot uses to search for trades. He only says that he has learned the tool inside out and found many patterns, which he implemented in the expert advisor. Even so, Aleksei mentions that the system works on hedge accounts. Therefore, we suspect that hedging might be at play. 

Backtest data analysis

Backtest results.

We have the backtest results of the EA, which have a historical quality of 98%. But it is not clear what trading period was used. Info on the deposit and timeframe is also missing. A total net profit of $80,720,861.31 was realized from 1252 trades. The average profit trade was $76,099.62, while the average loss trade was -$73,960.84. 

Good win rates for short (92.61%) and long (91.99%) positions were attained. The maximum drawdown, which was 27.51%, shows that the robot’s activities were not very risky. 

Live trading data analysis

Gold Million does not have any verified or unverified live trading results. We can’t help but wonder why the dev is not using the robot to trade, and yet he says it earned him a million. To make his claim believable, Aleksei needs to open a live account on a trusted site like Myfxbook for us to see the capabilities of the EA. 

Customer reviews

Gold Million has 13 mixed reviews on mql5. We have noted that a majority of the clients are unsatisfied with the tool. They say that the EA makes small wins and incurs losses. There is a client who disagrees by asserting that Gold Million makes excellent profits. Another one strongly recommends that you try the system. 

User reviews.

Review summary

Pros

  • Backtest results are provided

  • Fully automated

Cons

  • Negative reviews from traders

  • No live trading stats

  • Exorbitant pricing

  • Lack of strategy insight

The backtest results for this expert advisor are available and show that it can produce good results in the long run. But the vendor does not provide us with the live trading results, so we don’t know for sure if similar outcomes can be duplicated in the real market. Though the system has mixed reactions on mql5, most clients attest to its low profitability rate and high losing streak. Moreover, the EA is highly priced and works with an unknown strategy. 

Rating: 5/10


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