Gold Extractor Review

Gold Extractor Review
Gold Extractor Review

Min Deposit of 5$
Allow Cent Acount
Levergae up to 1:888

Gold Extractor Review

Min Deposit of 20$
Levergae up to 1:500
Spread 0, suitable for EA trading

The Gold Extractor can be used with ECN brokers, and it works well with M15 or M5 charts. According to the vendor, traders may use this panel to manually trade. You can use the traling function to stop trades and recover from martingales. We will review all aspects of expert advisor profitability to determine credibility.

Gold extractor

Type

Fully automated EA

Pricing

$220

Strategy

Scalper/Martingale

Compatible Platforms

MT4, MT5

Currency Pairs

XAU/USD

Time frame

M15/M5

Recommendation Minimum Recommended Minimum

$500

Recommendation Deposit

N/A

Utilize leverage

N/A

Trading strategy explanation

A scalper, Gold Extractor EA, uses negative correlations and real-time data fundamentals to trade. According to the developer, the country policies affect gold and therefore the changes in bond and stock prices lead to an increase in gold price which then gets capitalized by the system. According to the developer, the minimum deposit is $500 and the charts required are M15/M5. A news filter is also used.

Developer didn’t reveal important information like indicators, magic numbers or EA settings. It raises doubts about the robot’s ability to perform. We can see the usage of grid and martingale strategies in MQL 5’s history.

Backtest data analysis

Backtesting records are not available for the expert advisor. Developer says that EAs use a newsfilter with fundamental online data for trades. This makes it impossible to backtest strategies. These data cannot predict the future but traders use them to determine the robot’s past performance based on historical data.

The stance of the developer on backtesting records.

Live trading data analysis

Trade Results

MQL Account 5

Real (USD), Alpari Pro ECN

Started

October 4, 2021

You can deposit

$500

Balance

$1041.35

Gain

177%

Daily

1.17%

Monthly

20.43%

Drawdown

49.4%

Profitability

1.51

You can access unverified live trading records from the EA on the MQL5 Website. Trading began on the account at 04.10.2021, and it has been active since then. The system made 84.3% of its initial $500 profit and placed 77 trades per week. A robot can place 77 trades each week. The average hold time is 39 minutes.

Live trading records on MQL5.

This system executed 2231 executions but only lost 350. It does not appear to be a very profitable algorithm. The average profit is $1.28 and the average loss, -$4.53.

Live trading records on MQL5.

Maximum drawdown is at 49.4% with a profit ratio of 1.51. Examining the drawdown graph reveals that the system is vulnerable to instability and fluctuation.

The drawdown graph of the EA.

Pricing

For $220, the Gold Extractor can be purchased. There are two rental options available: $45 per month or $99. Three-month rentals for $99. Developer offers free demos but does not provide details about the refund policy or any post-purchase procedure.

Pricing of the EA.

Vendor transparency

The expert advisor’s developer is Sara Sabaghi, a Swedish woman. There are seven products from the developer and four signals on MQL5 Platform. We don’t know if the developer is an expert in Forex markets or whereabouts.

Developers profile on the MQL5 platform.

Review summary

There are pros

Cons

  • Automated solution 100%
  • There is no backtesting, and live trading records are verified
  • Little vendor transparency
  • No return policy

The key insights that Gold Extractor does not have are backtesting or strategical approach. These can help to understand the robot’s performance and make better investments. High drawdown and martingale are also examples of a risky strategy. The vendor’s moneyback policies and features after purchase are not clearly explained to traders, creating doubts about the EA’s credibility.

Gold Extractor Review

Min Deposit of 5$
Allow Cent Acount
Levergae up to 1:888

Gold Extractor Review

Min Deposit of 20$
Levergae up to 1:500
Spread 0, suitable for EA trading

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