GOLD EAgle Review: Does It Win or Lose?

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GOLD EAgle

GOLD Eagle uses the swing approach which works best in a flat market. As per the developer, the flat market condition will prevail nearly 90% of the time. The expert advisor is fully automated and optimized to work on the XAUUSD pair. A live signal is present for the MT5 tool and the author explains the strategy, settings, and advantages. However, there are no detailed backtesting reports for the system. Other downsides include the expensive pricing and the lack of a money-back guarantee.

What is GOLD EAgle?

The key features and recommendations for the system are as follows:

  • With the FX EA, you can get daily profits.
  • The FX robot can work with any trading system or EA.
  • A manual trading option is also present in the trading panel of the FX robot.
  • It works mainly on the XAUUSD pair and uses the M15 timeframe.
  • The developer recommends leverage starting from 1:200.
  • A hedge account and brokers with low spread are recommendations of the developer .
  • Proper internet connectivity and VPS are needed for uninterrupted trading.
  • The author does not provide info concerning the minimum deposit needed and the recommended brokers.

Official GOLD EAgle website

This FX EA is promoted on the MQL5 site. The product page provides info on the features, recommendations, settings, testing, and other related info. Evegenii Aksenov is the developer of this FX robot. He is based in Russia and has more than 3 years of experience in the field. His other noted products are Batman Midnight Hunter, Index Scalper Pro, Gold Dragon, etc. The author has developed 42 products and 9 signals. You can reach the author via the website address provided or via an email address.

How can we use GOLD EAgle?

As per the developer, the ATS opens orders after receiving signals from the indicator. It fixes the profits at a particular level and it rolls back if the price fails to touch the point. Instead, it opens another order automatically, which averages the total profit level making it nearer to the entry point.

Pricing & refund

To buy this FX EA, you need to pay $499. The author does not provide info related to the features you get with the package. There is no money-back guarantee which makes us doubt the reliability of the system. When compared with the market average, we find the pricing is expensive. 

Trading strategy

According to the developer, this FX EA uses the swing approach. It uses the TrendLine Pro indicator as the input signal and the trend scalping approach for making profitable entries. It uses a drawdown reduction function that ensures most of the orders close at a profit. The trades can be opened automatically or manually and exits can be made with a profit using the drawdown reduce function settings. The settings ensure the unprofitable orders and the most profitable orders are closed automatically, which helps in minimizing the drawdown. A backtesting result graph is present on the site but it does not have a detailed report of the trading stats. 

Current performance 

A live signal is present for the MT5 tool on the MQL5 site. Here is a screenshot of the trading stats:

Live trading stats for Gold Eagle on the MQL5 site
Live trading stats for Gold Eagle on the MQL5 site

From the above signal results, we find the system started in January 2022 shows a growth of 136.12%. For a deposit of $1000, the account that has completed 69 trading days has executed 104 trades per week. A maximum drawdown of 70.7% is present for the account with profitability of 76.75 and a profit factor of 3.91. From the growth curve, we can see the system shows a steady upward incline. However, the big drawdown indicates a risk approach that can endanger your account.

What customers say about GOLD EAgle?

Unfortunately, we cannot find user reviews for this FX EA on reputed review sites like Forexpeacearmy, Trustpilot, etc. 

Summary: is GOLD EAgle a trustworthy EA?

GOLD EAgle
2.2 5 0 1
GOLD Eagle assures daily profits with its trend scalping method. The author provides a live signal for the MT5 tool which shows high profits and growth. However, the drawdown is very high indicating a risky approach that many traders will try to avoid. Other downsides that you need to mull over in this FX EA are the expensive pricing, absence of a money-back guarantee, and the lack of customer reviews.
GOLD Eagle assures daily profits with its trend scalping method. The author provides a live signal for the MT5 tool which shows high profits and growth. However, the drawdown is very high indicating a risky approach that many traders will try to avoid. Other downsides that you need to mull over in this FX EA are the expensive pricing, absence of a money-back guarantee, and the lack of customer reviews.
2.2 rating
2.2/5
Total Score
  • Strategy
    3.0 rating
    3/5 Neutral
  • Features
    2.0 rating
    2/5 Bad
  • Trading Results
    2.0 rating
    2/5 Bad
  • Reliability
    2.0 rating
    2/5 Bad
  • Pricing
    2.0 rating
    2/5 Bad

Like

  • A fully automated system
  • Daily profits assured

Dislike

  • Expensive pricing
  • A big drawdown in real trading results
  • No money-back guarantee
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