In this post I will be reviewing the Gold Light FX EA. As the name suggests, this is an expert advisor (forex robot) developed for the MetaTrader 4 trading platform. It was primarily developed to trade GOLD (XAUUSD) although it is performing well on multiple currency pairs, mainly major currency crosses such as the EURUSD and GBPUSD amongst others. The advantage of trading these majors are the favourable spreads and there is usually always plenty of liquidity for fast execution provided of course (as I always say) you are using a true ECN forex broker. On the other hand, GOLD usually has a wide spread but can make some very big moves on a daily basis thus making it a good instrument to trade with the right strategy – such as the trading strategy incorporated by the Gold Light FX EA. The developers are based in Dubai and have been around since 2012 so they have a track record although of course we should bring any judgements on the quality of the Gold Light FX EA due to where they are based. They offer financial investment services to clients around the world which includes the Gold Light FX EA and even managed accounts if that is an avenue that you would like to explore. More information on that can be found on the Gold Light FX EA website but for the purpose of this review I will be solely focused on the expert advisor they offer.
Gold Light FX EA Strategy
The Gold Light FX EA core strategy is based around advanced scalping techniques. The rewards are huge with MyFxBook verified real live accounts currently showing an astonishing 22,000%+ profit in just a few months. I mean sometimes it is hard to believe such outlandish gains but the evidence is there for all to see. The risk is very low at around just 13% and although the average winning trade is slightly less than the average losing trade, with a win rate of 80% this is more than enough. It trades multiple currency pairs which gives it great diversity and plenty of trading opportunities. Some pairs are more profitable than others but it is god to have the diversity to ensure that whilst one pair may be hitting a rough patch, other pairs will make up for it. My main advice with this type of automated trading system is that you will need to be using a suitable broker – I cannot emphasise this enough. The results on MyFxBook from Gold Light FX are impressive because they are using a broker with low spreads and fast execution suitable for this strategy. As I mentioned earlier in the review – you should be using a true ECN broker in any case for the best possible trading conditions.
Gold Light FX EA Back Testing
There are no Gold Light FX EA back tests provided on the website but we can be satisfied with the live verified trading accounts they have published which have enough trades over a long enough period of time for us to draw an accurate judgement – that of which is so far this is a very impressive forex robot.
Gold Light FX EA Live Results
To see the latest live verified trading account performance of all forex robots please visit my best forex robots results page.
Gold Light FX EA Summary
Overall, I find the Gold Light FX EA to be a very innovative automated trading solution that has so far shown some great returns with minimal risks. The developers have been around for quite a long time. The Gold Light FX EA has good diversity with a frequent enough amount of trades. It is also a rare forex robot developed for trading GOLD. The managed account is an alternative option and if you are interested in going down that route then they have plenty of information on the website. Personally I like to have some form of control over my trading and looking at the current returns from the EA it would be more than enough for most active traders. It is also suitable for beginners as it includes detailed instructions, full support and as expected with all forex software – lifetime updates. There does seem to be a lack of a refund policy however the merchant who processes payment may be able to help you should you be unhappy with the Gold Light FX EA for any reason. Using a true ECN forex broker I can see this robot having great long term automated trading potential. Visit the Gold Light FX EA website for more information.