Golden Million Review: Does It Win or Lose?

Golden Million is an automated EA that works on the MetaTrader 4 and MetaTrader 5 platforms and has been available on the MQL 5 marketplace since 15 November 2021. The algorithm uses hedge accounts for trading and trades on the H1 timeframe on XAUUSD GOLD. This review will cover the vital features of this product to help you make the right purchase decision. 

What is Golden Million?

Golden Million has the following features:

• It does not have any lagging indicators.
• The algorithm is perfect for new traders.
• The robot sets up quickly within 5 minutes.
• Traders can use the robot to trade 24 hours a day.

A leverage value of 1:100 and higher is required for using the robot. 

Official Golden Million website

The algorithm is available for sale on the MQL5 website to see some characteristics. However, the information provided is fundamental and doesn’t help much decision-making. 

How can we use Golden Million?

Traders can use the robot with the following steps:

1. Make the payment on the MQL5 website
2. Download the EA onto your Windows
3. Launch MT4 or MT5 platform
4. Drag the EA files onto your charts and start trading

The algorithm will scan the market automatically and place respective trades depending on the coded information.

Pricing & refund

The robot is available for sale for a one-time price of 599 USD and a rental basis for 1 year at 499 USD. The free demo version can be used by customers as well. Payments are accepted through Visa, MasterCard, PayPal, & Union Pay. There is no information about the availability of a money-back guarantee. 

Trading strategy

The developer only states that the robot trades on XAUUSD on the H1 time frame and requires a hedge account. They do not provide any further information which is a poor approach that raises many concerns on the efficiency of the product.

Backtesting results have been provided for the robot where the currency pair is hidden. From the records, it can be seen that the initial deposit of 1000 was converted into a total net profit of 80720861.13. The gross loss value was 7174201.44. The relative balance drawdown was 16.94 %. The system has participated in a total of 1252 trades.

Current performance

There are no live records presented by the seller that might help us understand the performance of this robot based on statistics. These stats include monthly gain, drawdown, profit factor, trade best/worst, etc.

Vendor transparency 

Aleksei Bordak, a developer, based in Russia, is the owner of this EA. He has a rating of 3.1 stars on the MQL5 website and claims to be a professional algorithm developer who operates in financial, cryptocurrency, and forex. He has worked for these sectors for 15 years but doesn’t show any credentials. The author has 4 products, 35 signals, and 134 subscribers. 

What are the real customers saying about Golden Million?

There are 19 reviews from past customers on the MQL5 website, and many of them are highly negative. One angry customer hurls his anger at the robot by informing how the seller provided fake backtesting results and blocked live signals for transparency. This raises grave doubts about this product.