Dark Gold is an FX robot that uses the scalping method for high returns. It is a fully automated system that works on Bitcoin, Gold, GBPUSD, and EURUSD pairs. It uses a proprietary indicator. Marco Solito is the developer of this FX EA. He is an MQL4 and MQL5 programmer with 10 years of experience. Marco is the director of Dark Trading Biz and has designed 30 products. Dark Venus, Dark Dione, Dark Power, Dark Titan, and Dark Mimas are some of his products.
To identify the right FX robot, you have to look into factors like the strategy used, backtests, performance, support, and other aspects. It is not possible to analyze every product before you make a decision. Luckily, we have made the task easier for you. Have a look at our best FX robots list. You can easily find a suitable product.
Dark Gold overview
From our assessment of this FX EA, here are the main features that the developer focuses on:
- The FX robot is fully customizable. You can make changes to the settings of the EA as they are external.
- It can be managed with the proprietary indicator which need not be purchased and some strategies.
- This ATS works on the four currency pairs namely, XAUUSD, BTCUSD, EURUSD, and GBPUSD.
- Recommendations include use of M5, M15, and H1 timeframes and an ECN broker.
- A VPS of low latency needs to be used for this expert advisor.
- The recommended deposit and leverage are based on the settings you choose.
There are 2 versions of the system offered: one for the MT4, while the other one for the MT5 platform. The MT5 version is cheaper and costs $49, while the MT4 version comes for $69. Both versions include a free demo account. The developer does not provide info on the features available with the package. There is no refund policy. While the cost is not expensive, a refund policy helps in identifying the reliability of the system. When compared to the price of competitor FX robots, the price of this ATS is affordable.
How it works
As per the developer, this FX EA uses the Dark Support Resistance indicator. He suggests using the user guide for choosing the appropriate settings. There is not much info present on the working method of the EA. However, there are parameters such as magic number, maximum spread, money management settings, and other settings provided on the MQL5 site.
A trend-following approach is used by this ATS. The developer claims that the approach can be changed to counter-trend if needed. There is no further info revealed on the strategy. The lack of info is disappointing as it prevents us from understanding the approach and its effectiveness. There are no backtesting reports present. The lack of backtests raises suspicion on the effectiveness of the system.
A real USD account started in September 2021 using the ForexChief-DirectFX broker is present on the MQL5 site. Here is a screenshot of the live trading results.
From the above stats, we can see the account has achieved 446% growth for an initial deposit of $100. A total of 2454 trades have been executed with 65.85% profitability and a profit factor of 2.06. A maximum drawdown of 63.6% is present. We find the drawdown is very high indicating a risky approach. Further, the number of trades executed is of a high frequency. The high growth in the past month is also indicative of high risk.
We found 20 reviews on the MQL5 site with a rating of 4.18/5. Here are a few of the feedback:
From the above responses, it is clear that the EA is not providing good results. One of the reviews mentions the EA blowing up the account of the user. As per the user, the system worked well on the demo but did not perform well in the real account. The user claims that it does not work in volatile market situations and only in trending and normal conditions.
For support, the developer provides a Telegram channel link and you can also use the messaging option on the MQL5 site. We could not support methods like live chat, phone number, or location address.