Belkaglazer EA Review: Does It Win or Lose?

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Belkaglazer EA

Belkaglazer EA is a complex expert advisor that enables you to create diverse trading approaches in different markets, including Crypto, Forex, Forts, and Indices. You can only buy the original system at mql5.com. 

What is Belkaglazer EA?

The key features of the robot are highlighted in this section:

  • It supports limit/stop/market orders and works with instant/market execution 
  • The EA is based on four models with clear logic: Pivot, PriceAction, PriceChannel, and PRNG.
  • It contains a CBOE VIX filter and an advanced news filter. 
  • The robot protects each trade by a stop-loss. 
  • All settings and strategies are fully customizable. 
  • It works with numerous currency pairs.

Official Belkaglazer EA website

A huge portion of the EA’s presentation on its official site focuses on explaining its features and how it works. The vendor also includes several images and charts meant to help us better understand the workings of the robot. 

A person called Dmitriy is the author of this EA. He describes himself as a full-time trader who possesses programming skills and a bachelor’s degree in economics. He further states that he began trading in 2006 and spent more than 10 years developing this algorithmic approach.

How can we use Belkaglazer EA?

This EA will handle trades automatically for you. It achieves this by opening and managing positions using various tools like stop-loss, take-profit, time-stop, etc. Different money management systems are also included — fixed lots, max risk per trade, etc. You have an option of adding different money management techniques like averaging, martingale, pyramiding. 

Pricing & refund

To say that Belkaglazer is overpriced is an understatement. The vendor expects you to pay a colossal amount of $19,999 for it. A money-back guarantee is unavailable. 

Belkaglazer’s price
Belkaglazer’s price

Trading strategy

The system uses 3 main strategies:

Momentum

This approach focuses on buying/selling a trading instrument after the price experiences a huge upward or downward movement. So, the bot initiates orders with a market order executed in the momentum direction. 

Breakout

In applying this strategy, the EA normally enters the market when it is highly volatile with a buy/sell pending stop order that is placed at a horizontal resistance/support level.  

Mean reversion

This entails selling/buying an instrument following an upward/downward price movement. The robot enters the market from the opposite direction using a pending limit or market order when the price nears a support/resistance level. 

Backtest data
Backtest data

We have the backtest results of EURUSD, which the EA traded using the breakout strategy. The test, which began in May 2003 and ended in October 2019, was carried out on the M30 chart. From a deposit of $1000, a total net profit of $6081.01 was generated. The profit factor was 1.90, whereas the maximum drawdown was 9.95%. Clearly, low risk trading was applied. The system implemented 490 trades. Sadly, they recorded poor win rates. As you can see above, only 62.13% of the short and 60.78% of the long ones were successful.   

Current performance

Live trading stats
Live trading stats

Though the robot has been trading in this account since February 2017, it has only made a profit of $550.91. Nothing much is expected from a system that makes less than 1% profits on a monthly basis. We have a drawdown of 19.20%, which makes a risk/reward ratio of 19.4:1. This can really derail the growth of the account. It is thus not surprising that only a growth rate of 79.46% has been attained up till now. 

Performance of trades
Performance of trades

The system has carried out 4093 trades, and the profit factor is 1.06. This shows us that the strategy at play is not lucrative. It also tends to attract more losses than wins. That’s why we have an average loss of -37.67 pips that is nearly two times higher than the average win (20.13 pips). The performance of the long (59%) and the short positions (65%) is disappointing. 

History of trading
History of trading

The EA uses the grid approach and focuses on short time frames. The profits made are lower compared to the losses. Large stop levels are applied in some instances. The take profits are much lower. 

What customers say

We don’t really know what customers feel about this product because we could not find any user reviews on Trustpilot or FPA. 

Summary: is Belkaglazer a trustworthy EA?

Belkaglazer
2.8 5 0 1
We commend the vendor for taking the time to explain to us in detail how the robot works. He is using the bot to run a live account on Myfxbook, a sign he is confident about the workings of the EA in the current market. However, the EA’s profitability rate is low. Moreover, we have discovered that the grid is on the board. This strategy is risky and can cause huge losses.
We commend the vendor for taking the time to explain to us in detail how the robot works. He is using the bot to run a live account on Myfxbook, a sign he is confident about the workings of the EA in the current market. However, the EA’s profitability rate is low. Moreover, we have discovered that the grid is on the board. This strategy is risky and can cause huge losses.
2.8 rating
2.8/5
Total Score
  • Strategy
    2.0 rating
    2/5 Bad
  • Features
    4.0 rating
    4/5 Good
  • Trading Results
    3.0 rating
    3/5 Neutral
  • Reliability
    3.0 rating
    3/5 Neutral
  • Pricing
    2.0 rating
    2/5 Bad

Like

  • Strategies used are fully explained
  • Verified trading results are available

Dislike

  • Exorbitant pricing
  • Applies a grid of orders
  • No customer reviews
  • Low return rate
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