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Belkaglazer EA Review

November 9, 2020 by Forex Winner Leave a Comment

Belkaglazer EA

In our review today, we go through the Belkaglazer EA and determine whether it is worth anyone’s salt. This is one robot that relies heavily on its trading strategy and it is refreshing to find one that has such an analytical approach. It definitely deserves our attention. But, before we provide our recommendation, it is good to scratch a little beneath the surface to find out the truth.

Detailed Forex Robot Review

Created by a Russian, this robot doesn’t have a whole lot of information about it on its site or about the developer’s trading history. Even though the developer and the robot don’t seem to have much reputation in the market, the strategy used does seem to imply that the developer has some experience. 

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Belkaglazer EA presentation

To begin with, there appears to be enough strategic transparency to impress the average trader. Even though the codes aren’t made public, which usually is the case, there is more information than what other players usually provide. 

The intricacies of the robot do warrant some skill to maneuver and decode, which affords traders multiple strategies. But, it may just be too hard to use, even for an experienced trader. The robot is touted as a tool that can allow traders to have enough room for research and creativity. But, that beats the whole purpose of a Forex robot where the trader is looking to simplify his/her work, not complicate it. 

Belkaglazer EA Strategy Tests

There are three common strategies that the robot utilizes: 

  • Breakout
  • Momentum
  • Mean Reversion
Belkaglazer EA Strategy Tests

Plus, there are numerous models used so that the users can ascertain for themselves which one to choose. Users are provided instructions in detail so that they can explore the strategies that suit them, which are all within the makeup of the robot itself. Although this opens up a lot of different paths for users to take, it also brings in the snare of over-optimization that one has to be extremely wary of. The indications for these include settings optimization for very few symbols. Backtests have performed worse when there has been over-optimization as is the case with this robot.

Belkaglazer EA Strategy Tests

Live Account Trading Results

Let’s take a look at the trading results from the live account, which is the clearest indication of what to expect from this robot. 

Live Account Trading Results

The account was launched in October 2017, trading USD with a leverage of 1:500. There has been a gain of over 233% and a relatively small drawdown of 12.29%. However, it is also important to note that its peak went as high as 38.11%. Though the account has shown decent profitability on a consistent basis, running for almost 3 years, there is room for skepticism here. 

During the whole trading period, there are many more winning than losing trades. But, what caught our attention was that the average loss was more than double the average profit. This is clearly an indication that over-optimization does lead to worse results, even though there have been more ‘profit’ trades. 

On top of that, the trading conditions aren’t as favorable as the ones that have led to such a straight line on the graph. There are going to be bad time periods, extending from a few days to even years, that can lead to much higher drawdowns, for which a trader has to be prepared with the best robot, not with one that is anything less than.  

Pricing

At $499, the robot is a little pricey. However, there is a trial version that could be purchased for $149 for 3 months and $249 for 6 months. It is hard to say if the robot is worth one’s money, since the losses overtake the profits, at least when looked at averages. This is the consequence of the high learning curve and the overwhelming number of options that are thrown at users. For those looking to simplify their trading, this may not be the best option. 

Customer Reviews

There are mixed reviews in the trading community regarding this robot. Many find it extremely useful while others find it a scam outright. Such a divided community outlook doesn’t bode well for the robot and one is recommended caution when looking to purchase this robot. 

Belkaglazer EA Customer Reviews
Belkaglazer EA Review
Review Summary

Although the robot has many advantages, its drawbacks take the better of it and its advertising campaign.p>

Anyone using this robot is invariably going to have enough doubt in his/her mind to know better than to let it handle their account capital.

Given the fact that this robot raises more questions than it answers, we cannot recommend this robot.

Advantages
Transparency
Numerous strategies and models for users to choose
Verified trading results
Disadvantages
Mixed reviews
Complicates trading
Expensive
Average loss higher than average profit
4.6

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