GOLD EAgle Review

GOLD EAgle

GOLD Eagle as the name implies is developed for gold trading. It uses the grid trading approach and the Trendline Pro indicator for trading. As an automated system, it has a mobile trading panel that helps in managing automated trading. Manual trade opening is also possible with this MT5 tool. The developer provides info on the settings used and mentions the strategy used, but there are no backtests and live results. 

Evegenii Aksenov is the developer and had published this FX robot in September 2020. The recent product update was in July 2021 and it is in version 3.8 now. His other products include Joker, Genesis, Trend Line Pro, and more. Aksenov is based in Russia and has 3 years of experience in the field. He has created 37 products and 27 signals. There is no location address or phone number for contact. 

GOLD EAgle at a glance

Price$149
Trading PlatformsMT4, MT5
Currency PairsXAUUSD
StrategyGrid
TimeframeN/A
Recommended DepositN/A
Recommended Leverage1:500
Money ManagementYes

GOLD EAgle functionality

As an expert advisor trading on gold paired currencies, this product uses the Hedge account only. The developer, Evgenii Aksenov does not reveal much info on the features of this FX robot. From the minimal info provided, the important features we could find for this automated system include the presence of a mobile trading panel for trading using your smartphone, the presence of a DD reduce function for manual trades, and two different trading styles namely the conservative and the aggressive style of trading. 

As per the developer, this FX EA opens new orders that generate average profits and with a series of such orders, you can get consistent profits. Parameters like HTF and the Candle filter helps to choose the trading style you are comfortable with. The developer provides a set file for the aggressive and the conservative styles. There is no mention of the leverage, timeframe, recommended deposit, and other relevant details. The absence of info raises a red flag.

GOLD EAgle trading strategy tests

The grid approach and the TrendLine Pro indicator signals form the main methods this FX EA uses. Two inbuilt strategies are present with the software along with instructions on making the required settings. Other than mentioning the approach used, the developer does not elaborate on the strategy. Furthermore, no backtests are present which makes it difficult to assess the effectiveness of the expert advisor

What about GOLD EAgle live trading results?

We found a real EUR account for this FX robot on the myfxbook site using automated trading and the leverage of 1:500 on the MT4 platform. 

Growth chart showing Gold Eagle performance
Growth chart showing Gold Eagle performance
Advanced trading stats and history of Gold EAgle
Advanced trading stats and history of Gold EAgle

From the above images, we can see that the account has generated a loss of 34% and an absolute loss of 22.07%. A drawdown of 59.29% is present for the account. From the net loss value and the big drawdown, we find that the approach used is risky resulting in poor performance. Further details of the real account include a total of 1298 trades executed during the trading duration from November 2020 up to August 2021. A profit factor of 0.62 and profitability of 66% are present. The lot size used ranges from 0.04 up to 0.20, meaning the system uses martingale  to recover after losses. 

Customer support

Customer support methods include an email address and messaging via the MQL5 site. The inadequate support methods and insufficient info on the vendor raise doubts regarding the dependability of the FX EA.

Customer reviews 

We found 40 reviews for this FX EA on the MQL5 site. Here are a few of them:

Customer unhappy about the big loss caused by Gold EAgle
Customer unhappy about the big loss caused by Gold EAgle
Customer claiming Gold Eagle is a scam EA
Customer claiming Gold Eagle is a scam EA

From the above feedback, we can see users are complaining about the high drawdown and big losses they have suffered due to the EA. One of the users claims that this is a scam EA. This confirms our analysis of the real trading result that this is not a reliable EA.

GOLD Eagle Review Summary

GOLD Eagle
3 5 0 1
Gold Eagle is not a trustworthy EA as our analysis reveals that this FX robot has several downsides. The poor performance in the real trading result, high drawdown, negative user reviews, and inadequate support methods are some of the significant downsides that confirm this is a scam EA.
Gold Eagle is not a trustworthy EA as our analysis reveals that this FX robot has several downsides. The poor performance in the real trading result, high drawdown, negative user reviews, and inadequate support methods are some of the significant downsides that confirm this is a scam EA.
3/5
Total Score
  • Functionality
    3/5 Neutral
    The developer does not reveal much info on the features and working mechanism.
  • Trading strategy
    3/5 Neutral
    The grid approach used is a high-risk strategy which the big drawdown and losses reveal.
  • Live results
    2/5 Bad
    Poor performance in the real trading results indicate this is an ineffective system.
  • Customer support
    3/5 Neutral
    The support offered is inadequate making this an unreliable EA
  • User reviews
    2/5 Bad
    Negative user reviews indicate the dismal performance of the EA.

The Good

  • Pricing is good
  • Manual and automated trading feature

The Bad

  • A high-risk strategy is used
  • Trading results show poor performance
  • Negative user reviews
Total
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