Dark Gold is an FX robot that uses the scalping method for successful returns. It works on the EURUSD, Bitcoin, Gold, and the GBPUSD pairs. As per the developer, this is a highly customizable ATS that uses the Dark Support Resistance MT5 indicator. This EA is a trend-following system, but you can also use the counter-trend method if needed.
How Dark Gold EA works
Marco Solito is the developer of this FX EA. He is based in Italy and is the Director of Dark Trading Biz. He provides the website address under his MQL5 profile. As per the profile info, he has four years of experience and has created 30 products and one signal. To contact the developer, you can use the Telegram channel link provided on the site or the messaging option on the MQL5 site.
The developer provides very little info on the features of this MT5 tool. From the info provided, we find that it uses the scalping method. This EA begins its market order by following the trend, but a counter-trend method can also be applied if the situation requires it. A few parameters are provided on the settings like the magic number, maximum spread, money management, indicators settings, and more.
Recommendations for the FX EA include the use of timeframes M5, M15, H1, and other timeframes with proper settings. The main focus of the system is on the XAUUSD, EURUSD, BTCUSD, and GBPUSD pairs. But it can also work on other pairs with appropriate customization, as per the developer. Other recommendations include the use of an ECN broker and a VPS with low latency. The developer claims that the recommended deposit and leverage are based on the settings you choose.
Other than mentioning the scalping and trend-following methods, the developer does not explain the approach used. The lack of info on the trading strategy makes us doubt the reliability of this system. Further, there are no backtesting reports present for the system. The absence of a strategy explanation and backtesting reports raise a red flag for this EA.
We can find a warning notification indicating that you should be cautious with the EA and use a low-risk setting. The developer recommends adjusting the settings based on your backtests and needs. He also mentions that the past performance of the system does not predict its performance in the future.
Dark Gold trading results
A real signal is present for this FX EA on the MQL5 site. Here is a screenshot of the signal.
From the above trading stats, we can see the real USD account uses the ForexChief broker and the leverage of 1:500. For 63 trading days, the growth percentage is 254.19%. The high growth percentage in such a short time indicates a high risk.
For the account started in September 2021, a profit of $1761.42 is present for an initial deposit of $100. A maximum drawdown of 63.6% is present for the account with a profitability of 67.1% and a profit factor of 2.01. The high drawdown indicates the strategy is of the high-risk category.
Pricing & refund
This FX Robot is available for $49. A free demo offer is present for the account. There are no other details present concerning the features available with the package. We could not find a refund offer for the product. Even if the price is affordable, a money-back guarantee denotes the reliability of the product. The absence of a refund offer makes us suspect this is an unreliable product.
We could not find user reviews for this FX robot on trusted third-party sites like Forexpeacearmy, Trustpilot, etc. The absence of feedback indicates this is not a popular system in the market. We found a few reviews on the MQL5 site. There are 13 reviews with a rating of 4.33/5.
While most of the feedback is positive, we suspect it may be manipulated as the site promotes the product. However, a few of the reviews shown below indicate the system is not for novice traders and that the settings are not working.