Golden Million Review: Is It a Good EA to Buy In 2022?

Golden Million EA requires a hedging account to trade gold on H1 timeframe charts. The developer claims that the robot comes with regular updates, and its price is subjected to rise over several months. We will review the robot and analyze all the important points of this system to decide whether it’s profitable or not. 

Pricing

The expert adviser comes with a lifetime license of $599. Renting option is also available for an asking price of $499/year. Users can also download the demo account and test it on the strategy tester functional on the MT4/5 platform. There is no money-back guarantee offered, and the price of the algorithm is comparatively high when we contrast it with other systems in the marketplace. The payment can be processed through Visa, Mastercard, PayPal, and UnionPay. 

Vendor transparency

The developer of Golden Million is Aleksei Bordak, who has a rating of 2.6 on the MQL5 platform and zero experience. The vendor has 135 subscribers and 35 signals with four products. 

The developer keeps us blind in terms of providing information. No website, telephone contacts, or email address is available. Little information about the company raises concerns over the credibility of the product. 

Key features

The robot has the following key features:

• It trades on Metatrader 4 (MT4) broker.
• The algorithm requires a hedging account to trade.
• There are free updates with the purchase.
• It uses the H1 timeframe to analyze the charts.

Golden Million trading approach

The robot trades on gold on the H1 time frame and requires a hedging account. There is no further information on the topic, and there are no live records available that we could use to analyze its strategy ourselves. This is a poor approach from the developer and raises many concerns about its transparency.

Backtesting results

The developer provided the backtesting records for an unknown currency pair/timeframe and did not clarify how long the testing period was. The system participated in 1252 trades while winning 1155 and losing 97. The average amount of profitable executions was $76099.62, with a profit factor of 12.25. The modelling quality of the expert advisor stood at 98%. 

The maximum consecutive wins were 142, with five straight losses. The shape ratio was shown as 0.64 and the recovery factor as 106.77.  

Golden Million live trading results

The developers of Golden Million do not provide any live trading results, which can be used to check the performance and reliability of the robot. It increases doubts about the transparency of the developer and reliability of his expert advisor. 

What are the risks with Golden Million?

From our analysis, we can predict the following risks while trading with the algorithm:

• There are no live trading records of the expert advisor.
• The backtesting data have some unknown figures such as currency pair, timeframe, and testing period, making it a bit shady. 
• The developer is not clear on their whereabouts and experiences.

Worth noting!

A total of 19 reviews are available on the MQL5 platform, with a rating of 2.87. A customer in his feedback says that he faced losses while trading with the robot. Instead of updating the old one, the vendor created a new algorithm and renamed it to hide the previous poor performance. 

Another trader reviewed the product and commented that traders should not trust the backtesting records.

A client blamed the vendor for fabricating the backtesting result and insisted that the developer cancelled the live results of the EA because he had something to hide. This review clears that live signals were available in the past, but the developer removed them for unknown reasons. This kind of action creates suspicion and raises questions about their credibility.

What are the pros and cons of investing in Golden Million?