GOLD EAgle is a Forex expert advisor that was launched in September, 2020. According to the developer, this robot can close a series of orders in profit, even if some of the trades are unprofitable. You can run this EA on both MT4 and MT5 trading platforms.
Is investing in GOLD EAgle a good decision?
To analyze this EA, we have looked into various factors like presentation, vendor transparency, features, price, trading statistics, and customer reviews. We can see that there are no verified trading accounts for this EA, and although it is affordable, the vendor doesn’t have a refund policy in place. Also, there is very little information on the developer.
Company profile
GOLD EAgle doesn’t have an official website. It is sold on MQL5, where the vendor has provided a short introduction to the system followed by a list of advantages, setup instructions, and testing instructions. They have also shared a few screenshots of trade setups and the link to a live monitoring account on MQL5.
The developer behind this robot is Evgenii Aksenov, who is a resident of Russia. We don’t know much about this person and their trading background. They have shared an official email address on their MQL5 profile and have been selling products on the website for three years. Other EAs from this vendor include Champion, Joker EA, Batman Midnight Hunter, PZ Grid, GIBO Trend PRO, Currency Power Meter Infinity, Spread Meter, and Genesis EA.
Main features
This EA uses a swing strategy that is suitable for a flat market. It is optimized for XAU/USD or Gold. As an input signal, it uses the trend scalping strategy for the TrendLine PRO indicator. It initiates the first order at the indicator signal, fixing the profit at a certain level. In case the price fails to reach the profit and there is a rollback, it initiates an additional order averaging the level of total profit.
The robot has a drawdown reduction function that allows it to close a series of orders in profit. After downloading the EA, you need to add it to an XAU/USD M15 chart and activate the auto-trading function. It has a news filter that you need to activate by adding the website address in the EA settings. The vendor recommends using a stable internet connection and a VPS.
You should use a hedge account with leverage of 1:200. Also, you should sign up with a broker offering low spreads and use the recommended set files according to your account balance.
Price
The current price of this expert advisor is $499. This is pretty standard compared to other robots on the market. There is a free demo version for this EA you can download for testing purposes. Unfortunately, the vendor does not offer a money-back guarantee for this robot.
Trading results
The vendor has not shared the verified trading results for this account. Here we have a live account on MQL5 that was launched on 18th November, 2021. It has had 55 trading days to date, during which the robot has conducted 296 trades. It currently has a win rate of 77.02% and a total profit of $1155.30, which represents a growth of 115.25%. While the win rate is quite high, it is based on a short trading history.
This account has a high drawdown of 66.9% and this indicates a risky trading strategy. The average profit and loss for this account are $11.01 and $19.92, respectively, while the profit factor is 1.85. There have been 20 maximum consecutive wins and 7 maximum consecutive losses. On average, the EA conducts 53 trades per week and holds each order for 19 hours.
We don’t have the historical test results for this EA. As such, we cannot compare the live results with the historical performance.
Customer reviews
At this moment, there are no reviews for this expert advisor on websites like Trustpilot, Forex Peace Army, Quora, and Myfxbook. This tells us that not many traders are currently using this robot to conduct live trades. We came across some reviews on the MQL5 website, but they are not verified by an independent third party.
Summing up
GOLD EAgle is an expert advisor that has no verified track record of generating profits in the live market. We don’t know much about the developer and there is no money-back guarantee protecting your investments. Also, we don’t have the historical test results for this expert advisor and there are no user reviews.
