Bonanza EA is an MT4 tool that is optimized particularly for the XAUUSD pair. As per the developer, Elizaveta Erokhina, this FX robot uses complicated filtering methods for finding the precise entries and exits. It is designed to work best for long-term operation. This ATS is fully automated and hence does not need any special technical skills from the user.
You can purchase this FX EA for $350. There is a rental option that costs $300 per month. The developer also offers a free demo account. When compared to other similar systems in the market, we find the price of this FX robot is expensive, especially the rental price. The absence of a money-back guarantee indicates this is not a reliable MT4 tool.
Bonanza EA trading strategy
According to the developer, this FX robot does not use risky methods like the grid, Martingale, or other similar methods. Instead, it uses TP and SL logic for every position. There is no further explanation of the approach and the developer does not reveal the approach used. Without info on the approach, it is not possible to know the efficacy of the system. The absence of transparency concerning the strategy raises a red flag for this system.
Bonanza EA features
A timeframe of H1 is recommended by the developer for this EA. Other recommendations include the use of an ECN broker and a minimum deposit of $300. The main working pair for this FX EA is the XAUUSD, Gold pair. This ATS is not sensitive to broker conditions like the spread and slippage. It has a simple installation method. We could not find further info on the features of this EA as the developer provides only minimum info on the system.
Bonanza EA backtesting results
A few backtesting reports are provided on the MQL5 site by the developer. But these are only the growth graphs and do not reveal details of the deposit, profit, drawdown, etc. The lack of a detailed strategy tester report raises a red flag. Although the tests are based on historical data and cannot predict future performance, the tests help to assess the efficacy of the software. The developer fails to furnish the pertinent info making us suspicious of the veracity of the tests shown on the site. From the absence of a proper backtesting result, we suspect this is not a reliable EA.
Bonanza EA live trading results
We could not find real live trading results for this FX EA on reputed sites like Myfxbook, FXBlue, FXStat, and MQL5 sites. We look for such sites as they provide an unbiased perspective of the various crucial factors concerning the EA. We can find info about the profit potential, drawdown, equity, lot size, and more. The lack of live trading performance raises a red flag for this system.
Bonanza EA reputation
Elizaveta Erokhina is the developer of this Forex robot. She is based in Russia and as per the profile info on the MQL5 site, she does not have prior experience in the field. The developer has created 6 products and 14 signals. To contact the developer, you can use the email address provided on the profile section of the site or use the message board option of the site. We find the customer support provided is inadequate and makes us suspect this is not a trustworthy system.
No user feedback is present for this FX EA on reputed third-party review sites like the Forexpeacearmy, Trustpilot, etc. The absence of user testimonials makes us suspect the credibility of this EA as it indicates this is not a popular product in the market.
For support, the developer offers an email address and the option to message using the message board option on the MQL5 site. We find the info provided is inadequate and not sufficient enough to address the queries and concerns that users have.
Bonanza EA Review summary
- Strategy – 5/10
- Functionality & Features – 4/10
- Trading Results – 3/10
- Reliability – 5/10
- Pricing – 4/10
As per the developer, this FX EA is designed for long-term stability. Our evaluation of the various aspects of this system reveals it is not a trustworthy EA. The developer does not reveal the approach used. We cannot find any backtesting results or real trading results for this MT4 tool. With no verified track record, we find this is not a reliable system. Other downsides include the expensive price tag, an absence of a money-back guarantee, and the lack of user reviews. From the many drawbacks, we find this is not a reliable FX Robot.
