Golden Million is an MT4/5 compatible trading tool that claims to provide high returns. As per the developer Aleksei Bordak, the system is easy to set up and use. The unwanted setting parameters are hidden by the author to ensure easy installation. As a user, all you have to do is pick a suitable risk level and run the EA, according to the author.
How Golden Million robot works
Aleksei Bordak is the author of this FX EA. He has over 15 years of experience in the finance and programming fields. He develops algorithms for FX, financial markets, and cryptocurrency trading. Aleksei is based in Russia and his other products are New Million and Index Premium Scalper.
There is very little info present concerning the features and functionality of the FX robot. Instead, the developer explains about his experience and reason for the expensive pricing. He explains that his main mission is to help other people earn money with the robot as he had achieved. The developer states that he has studied the tool thoroughly and used several patterns to make it successful. But he does not reveal details about how the system is effective in producing high returns. From the minimal info present, here are the features and recommendations for this trading tool:
- It works on Gold and XAUUSD
- A timeframe of H1 is recommended
- The vendor recommends the use of a Hedge account
- Leverage of 1:100 or higher is needed
The author provides a link to the recommended broker. According to him, the expert advisor will show the best results when used with the broker he recommends.
Applied strategies
The developer does not reveal the strategy used by this FX robot. Other than explaining that he has tested the algorithm spending several years in research and programming, the author does not divulge the strategy used. The lack of explanation raises a red flag for this EA. A couple of backtesting results are present for the EA on the MQL5 site. Here is a screenshot of the trading stats:
From the above backtest, we find that the FX robot had generated a total net profit of 80.720.861.13 for an initial deposit of $1000. For a total of 1252 trades, the EA had profitability of 92.25% and a profit factor of 12.25. The drawdown was 27.51%. From the stats, we can see that the profits were high indicating good performance. But the drawdown is a bit high indicating a risky approach.
Golden Million trading results
No verified real trading results are present for this FX robot. We look for real trading stats verified by third-party sites like Myfxbook, FXBlue, etc. The reason we prefer such sites is that they provide important details about the performance and strategy of the robot. Details like the drawdown, total profit, profitability, lot size, etc. help provide a better insight into the efficacy of the system. The lack of verified results raises another red flag for this EA.
Pricing & refund
To buy this FX robot, you have to pay $999. Rental packages are available for the ATS and include a 6-month package that costs $499 and an annual package that costs $699. A free demo account is present. There are no details related to the features available with the package. The developer does not offer a money-back guarantee, which makes us suspect the reliability.
When compared to the competitor products in the market, we find the cost of this trading tool is exorbitant. The author claims that he will keep increasing the prices to limit the number of users and make them exclusive.
Other notes
We found 15 reviews for this FX robot on the MQL5 site with a rating of 2.45/5. Here are a few of the recent reviews:
From the above feedback, it is clear that the users are not happy with the performance of the EA. According to one user, the wins are very small and the parameters are fixed making it difficult to get more wins. Another user complains that only losses have occurred since he started using it.
