BlackQueen exploits the global price momentum to choose accurate entry points. It is a fully automated system that works on multiple currency pairs. Users can choose an approach of their choice and also customize the software with the endless options present. The author, Mikhail Sergeev, provides real trading results for users to monitor the performance of the system. While a backtesting chart is given, there are no details of the strategy tester report. Further, the pricing is expensive and there is no money-back assurance. The real-time trading indicates a big drawdown that shows a risky approach.
What is BlackQueen?
Some of the key features that according to the author make the EA stand out are:
- It uses a hedging account.
- The main working pairs are EURUSD, USDCHF, AUDUSD, GBPUSD, USDCAD, NZDUSD, and USDJPY.
- A timeframe of H1 is used by the FX robot.
- No short-term trades like scalping or pipsing are used by the ATS.
- All configurations are preset so you need not set up any of the trading actions.
- Three modes namely auto-7 pairs, auto, and manual modes are available.
- The minimum deposit requirement for using the EA is $50.
- There are no details related to the recommended broker and leverage for the FX EA.
Official BlackQueen website
Since the product is promoted by the MQL5 site, there is no separate website for the product. Compared to many of the FX EAs on the MQL5 site, the info present for this FX robot is above-normal. The developer provides info on the ATS, the trading modes, a live signal, backtesting images, and pricing.
Mikhail Sergeev is based in Russia. He has more than 9 years of experience in creating FX trading tools. About 15 products and 3 signals have been created by the developer. For contact, the messaging board on the MQL5 site is the only method present.
How can we use BlackQueen?
As per the developer, the EA has three trading modes. One is the auto-7 pairs mode, which, the developer claims, is good for beginners. The second mode is the auto (This Chart) mode where you get to trade only the pair that the EA is attached to. In the third and final mode, which is a manual form, you get unlimited parameters that you can use to customize your trading.
Pricing & refund
To buy this FX robot, you need to pay $371. A couple of rental packages are available which include a one-month package that costs $40 and a 3-month package that costs $68. A free demo account is present. There are no details present on the features included with the packages. No refund offer is present for the product. When compared to the price of competitor systems in the market, the pricing is expensive.
According to the developer, you can choose the default strategy of the ATS. If there is a loss the recovery is by the use of opposite trades and by increasing the lot. Another option is the use of the OneOrder strategy using which if there is a loss, the EA waits for the next viable opportunity. The author provides backtesting charts on the MQL5 site. But there is no detailed strategy tester report. We are unable to analyze the backtest due to the lack of info.
A live signal started in April 2021 is present for this FX robot. Here is a screenshot of the trading results:
From the above stats, we can see the account uses the RoboForex-ECN broker and the leverage of 1:300. For an initial deposit of $100, the profit generated is $68. A drawdown of 72% is present. For a total of 61 trades, the profitability is 91.80% and the profit factor is 3.39. From the results, we can see the drawdown is high indicating a high-risk approach. Further, a majority of the growth occurred in a very short span which also denotes a risky strategy.
What customers say about BlackQueen
Unfortunately, there are no user reviews for this FX EA on reputed third-party sites like FPA, Trustpilot, etc.
Summary: is BlackQueen a trustworthy EA?BlackQueen
Trading Results3/5 Neutral
- It is a fully automated software
- Live trading results
- High drawdown in trading results
- Expensive pricing
- No refund