EA Black Dragon uses the Black Dragon indicator and opens trades depending on the color of the indicator. As per the developer Ramil Minniakhmetov, the approach used by the ATS helps to increase order network or use SL for better returns. Ramil Minniakhmetov is from Russia and has more than 8 years of experience in the FX market. He has created 10 products and 3 signals. Other products of the developer include Hamster Scalping, Element Gold, and Asia Trend EA.
EA Black Dragon strategies and tests
Other than the mention of using the proprietary indicator, the developer does not divulge the strategy this ATS uses. There are no details present related to the features, functionality, recommendations, and other aspects. A couple of backtesting results are present on the MQL5 site. Here is one of the tests done on the GBPUSD pair from 2010 to 2020.
From the above report, we can see that that backtesting had been done using the M15 timeframe. For a deposit of 1000, the total net profit generated was 4047115.84. A profit factor of 2.35 and profitability of 74.63% was present. The maximum drawdown for the account was 36.78%. Modeling quality of 99.9% was used for the testing and with variable spread. From the results, we can see the profits were high indicating a decent performance..
EA Black Dragon live trading account review
Unfortunately, the developer does not provide live verified trading results for this FX EA. We could not find trading stats on reputed sites like myfxbook, FXBlue, FXStat, etc. We prefer such third-party sites for assessing the trading details as they are unbiased. Further, the results posted on such sites reveal important info like the total return, drawdown, profit factor, and more. The lack of verified real trading info raises a red flag for this FX EA.
To buy this FX expert advisor, you need to pay $30. A free demo account is offered by the developer. There are no other details present related to the features available with the package. No money-back assurance is present for the package. When compared to the price of similar products in the market, the price of this MT4 tool is very affordable.
Is EA Black Dragon robot a good system to rely on?
On evaluating the various characteristics of this FX robot, we have found the following factors that can influence your buying decision:
Comparing the price with other similar expert advisors, we find that the price is cheap. While there is no money-back guarantee which makes us suspect the reliability, the affordable rate is an advantage for this product.
Absence of verified track record
Other than the backtesting reports provided on the MQL5 site, the developer does not provide real trading results verified by sites like myfxbook, FXStat,etc. The absence of a verified performance raises suspicion on the reliability of the product.
Lack of strategy explanation
Besides mentioning the use of the proprietary indicator, the strategy used by this trading tool is not revealed. Instead of providing info on the features and recommendations, the developer provides a list of input values to use with the EA.
We could not find user reviews for this FX robot on reputed third-party sites like FPA, Trustpilot, etc. The MQL5 site has reviews for this ATS. However, we cannot take them into account as they can be manipulated since the site promotes the product. The lack of feedback further raises suspicion about the dependability of the expert advisor.
For contacting the developer in case of queries or concerns, you can use the Telegram link provided on the profile page of the developer or use the direct messaging option on the MQL5 site. Features like live chat, FAQ, phone number, location address, etc. are not present for support.