Targeting traders who are looking to use diverse strategies and gain an advantage, Belkaglazer EA uses multiple methods for its trading system and uses different markets. A trader can use any of the trading systems based on the set-files or settings of this Forex robot.
Is this expert advisor the apt choice for your trading approach? Find out what we have unearthed about this automated trading system from this detailed Belkaglazer EA review.
How Belkaglazer EA Works
Developed by Dmitry Shal from Moscow, Russia, the website reveals very little information related to the developer’s reputation and trading expertise. Email support is offered for queries and complaints and the developer has profiles on MQL5 and Alpari where messages can be directed to.
This automated trading system uses diverse and long-term strategies on four different markets including Indices, FORTS, Crypto, and Forex. Aimed at pro algorithmic traders, the system utilizes PRNG, Price action, pivot and price channel models of trading.
This MT4 and MT5 compatible Forex robot includes main features such as an H4 time frame and no limits on the accounts and time taken for trading. The trading is mainly short-term with 10 signals used. Money management is part of the system and it works with any broker account. This expert advisor uses averaging trading time ranging from 4 hours to 4 days.
Multiple currency pairs are used including EURUSD and USDJPY. A minimum deposit of $200 is recommended by the developer in the case of standard accounts, and if it is a cent account the minimum amount is 200 cents.
Belkaglazer Forex robot provides backtests of 99.9% modelling caliber and uses variable spread. According to the developer, the backtests match the results of the live trades. The backtesting image shown above uses random trading with a grid strategy. A New Filter feature called CBOE VIX filter used by this EA allows backtesting of market impact on any news event. While the developer maintains that the trading strategy used does not include Martingale, hedging, grid, and other such dangerous strategies, the backtesting image above, taken from the website, shows the grid strategy being used. This is confusing and makes us doubt the efficacy of the test result.
Belkaglazer EA Trading Results
We could find several live accounts verified by Myfxbook. We analyzed the one shown below as it has been running since 2016. A gain of 41.94%, a drawdown of 14.59%,a daily gain of 0.02%, and a monthly gain of 0.74% are recorded. The gains are not high, which is probably due to the fact that lot sizes are kept constant at 0.01 or .02. For traders who want to earn more profits which is the reason for choosing automated systems with good performance records, this may be a big letdown.
Another real account result verified by the Myfxbook site is shown below. While the gain is higher at 237.61%, the drawdown is around 12.20%.
In 2020, the monthly gain has slipped below 10% with a few months showing losses too. This corroborates our doubts on the low profits this automated Forex trading system can generate.
Pricing & Refund
Belkaglazer is available for purchase only through MQL5 Market and costs $499 for its MT4 and the MT5 versions individually. We could not find any information about a refund provision. Refunds help in assessing the performance of the product. When a developer guarantees a refund, you can assuredly buy the product. If you do not find it satisfactory, the refund option helps. The absence of a refund makes us doubt the efficacy of this Forex robot.
We found several user reviews of this Forex robot on the mq15.com site. While most of the reviews had five stars, which we think is probably due to the fact that this EA system is purchased via this site solely so are manipulated. However, a few of the user feedbacks we have shown above indicate that the system delivers very low profit as we mentioned in our analysis of the trading result.