Forex Robots

BlackQueen Review: Affordable Robot Without Verified Statistics

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BlackQueen

BlackQueen is a fully-automated Forex expert advisor that runs on both Metatrader 4 and Metatrader 5 platforms. It supports multiple currency pairs and can be customized for any trading tool.

The developer behind this EA is a Russian national by the name of Mikhail Sergeev. They have experience of more than nine years and a total of 33 subscribers on MQL5. We have no background information on this person or the people they work with. Other EAs from this developer include Investo, Ilanis, BearsHunter, Devilfish, and Sparta.

BlackQueen strategies and tests

The minimum deposit for this expert advisor is $50. It finds stable entry points based on global price movements. It works on hedging accounts and supports pairs like USD/JPY, USD/CAD, USD/CHF, NZD/USD, AUD/USD, GBP/USD, and EUR/USD. The robot does not use short-term strategies like pipsing and scalping.

There are three trading modes for this expert advisor. Beginners are advised to choose the Auto – 7 pairs mode where they can trade in seven pairs using just one chart. The Auto (THIS CHART) – 7 pairs mode involves trading only the pair to which the EA is attached. You can select one of the 7 pairs in this mode. Finally, there is the manual mode that is compatible with any asset and gives you unlimited options for configuring the parameters.

There are two strategies for this robot, namely BQ and OneOrder. For the first one, it uses opposite trades to recover losses, increasing the lot size in the process. While working with the OneOrder strategy, the EA accepts losses and stands by for the next profit opportunity. After launching the EA, the vendor recommends loading it on a EUR/USD H1 chart with default settings.

Statistics for historical test

Statistics for historical test

The vendor has not shared the backtesting results in the proper format. We know the EA was tested for 11 years, but it is not possible to assess the performance without looking at parameters like profitability, drawdown, profit factor, etc. Here, we can only see the hourly, weekly, and monthly profit and loss charts, along with the corresponding entries.

BlackQueen live trading account review

Growth chart of BlackQueen

Growth chart of BlackQueen

Unfortunately, there are no verified trading accounts for this expert advisor on third-party websites. Here, we have the results for a RoboForex ECN account using 1:300 leverage. The account was launched in April 2021 and has had 38 trading days to date. On average, BlackQueen conducts four trades per week through this account.

Starting with an initial deposit of $100.80, the EA has conducted a total of 54 trades. It has won 90.74% of these trades, generating a total profit of $42.32. The average holding time for the trades is 19 hours. This account has a decent profit factor of 2.49. However, the maximum drawdown is quite high at 72% and indicates a high-risk strategy that can lead to heavy losses. There have been 30 maximum consecutive wins and 2 maximum consecutive losses.

Pricing

The current price of this Forex robot is $371, which is pretty close to the market average. You can rent the EA for a month in exchange for $40. For $68, you can rent it for 3 months. The vendor also offers a free demo version for testing purposes. However, they don’t entertain refund requests.

Is BlackQueen a good system to rely on?

There is no verified track record for this EA. The vendor has not explained the trading strategy in detail and the backtesting results are presented in an odd format. Last but not the least, customers do not have the protection of a money-back guarantee.

User reviews for BlackQueen on MQL5

User reviews for BlackQueen on MQL5

We were unable to find any reviews for this EA on websites like Trustpilot, FPA, Myfxbook, and Quora. While there are few reviews on MQL5, we have no way of verifying their authenticity.

Customer support

The developer has not shared any official contact information. Therefore, the only way to get in touch with them is to message them through the MQL5 website.

BlackQueen

5

BlackQueen is an expert advisor that has no verified record of winning profits in the live market. It is not very expensive, but the vendor does not offer a money-back guarantee. We don’t have the complete details of the backtesting results and it seems the vendor does not have much of a reputation.

  • Compatible with multiple pairs
  • Available at an affordable price
  • Lack of vendor transparency
  • No money-back guarantee
  • Backtesting results not presented in the proper format
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