Golden Million is a Forex expert advisor that was published on November 15, 2021. It is a system that trades only in Gold. According to the developer, this robot is easy to use and contains no unnecessary parameters.
The developer, Aleksei Bordark, is a resident of Russia. He claims to be a professional algorithm developer for the financial markets with experience of over 15 years. We don’t have any background information on this person or team he works with.
The dev has not been present on the MQL5 website for too long. On the product page, he claims that he won’t stay on the website for more than 3-6 months, after which the price of the EA will go up. This developer has another product on MQL5 known as NewMillion.
These days, there are many scam EAs on the market. Some vendors try to dupe customers by selling them unprofitable systems that are not capable of generating steady profits. This is why it is important for us to analyze the various aspects of the system like features, trading strategy, pricing, live statistics, support, and user reviews. This way, we can determine whether it is a good investment or not.
What is behind the Golden Million EA?
The developer claims to have invested years of research and thousands of hours of programming into the algorithm of this EA. While trading in Gold, the developer found many patterns that they have implemented in this EA. There are no setup instructions available for this robot and the vendor has not clearly explained how we should use it.
This EA does not trade in any other pairs apart from Gold or XAU/USD. According to the vendor, you should run it on H1 charts. It is best-suited to a hedging account and the developer recommends trading with minimum leverage of 1:100. They have also recommended signing up with the IC Markets broker for best results.
On the MQL5 product page, the vendor has not clearly explained the trading strategy behind this system. We don’t know how it identifies profitable trades or whether it uses any indicators for this purpose. As such, it is not possible for us to determine whether the EA is best-suited to a particular trading style.
Here we have the results of a backtest conducted on the EA. However, we don’t know how long the testing period was. The EA conducted 1252 trades, winning 92.25% of them and generating a total profit of $80720861.13. It had a profit factor of 12.25 and a Sharpe Ratio of 0.64. Looking at the relative equity drawdown of 27.51%, we can say the robot was trading with high risk. There were 142 maximum consecutive wins and 5 maximum consecutive losses.
The current price of this EA is $900, and this makes it more expensive compared to other robots. There are two rental options for Golden Million. While the 6-months rental plan costs $400, the 1-year rental plan can be availed for $600. There is a free demo version of the system that you can download for testing purposes. However, there is no money-back guarantee offered.
Trading performance of Golden Million
Unfortunately, the vendor has not shared the verified trading statistics for this robot. It is a common practice for sellers on MQL5 to share the trading results on the website itself, but no such account exists for Golden Million. Without verified trading results, it is not possible to determine whether the system can generate profits in the live market.
There is no contact information available for this developer. If you are in need of support, your only option is to message the seller on MQL5.
At this moment, there are no reviews for this expert advisor on third-party websites like Myfxbook, Quora, Trustpilot, and Forex Peace Army. There are a handful of reviews on the MQL5 product page. However, we have no way to check the authenticity of these reviews.