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Gold Elevate EA Review: Scam Robot for Trading XAUUSD

Gold Elevate EA Review: Scam Robot for Trading XAUUSD

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Gold Elevate EA is a Forex robot specifically designed to trade the XAUUSD pair. They claim this software is so easy to use because it uses the plug and play approach to help traders make money. This type of sales page is very common with scam products on the internet, and so is the style of copywriting which we have seen many times before. Vendors would make statements such as ”watch your account explode while you sleep” or ”make huge amounts of profits”. This is what we call aggressive marketing and we have not seen it very common in 2018. So this automatically makes Gold Elevate EA sales page look and feel awkward because currently, developers are not using very aggressive sales tactics to try selling their products to the masses.

Whereas we’d like to learn a little bit about the developer of Gold Elevate EA, this information is not forthcoming. A who.is research isn’t very helpful in helping us achieve this goal and so are the other resources which we have utilized to try finding some background info concerning the developer. We have hit a dead end. That means Gold Elevate EA developer’s trading and development history cannot be verified. We don’t know who they are or even where they are operating from. This type of lack of transparency is disturbing because we can’t figure out how a developer wanting to sell his products can conceal their details and hope to build trust and credibility.

To contact the developer, traders have an option to fill and submit a form which is situated at the bottom of the sales page. This lack of transparency is the main reason most traders would shun this robot and opt for these recommended ones. 

Gold Elevate EA Review

Hopefully when we find more information about the developer, we will consider including it in this review so that you can get a better clue of what the product owner has been doing and whether the expert advisor is ideal for using in a live Forex market.

Gold Elevate EA

In terms of trading strategy, they claim that the Gold Elevate EA uses a custom made indicator, a supply and demand predictor, an auto adaptive profit trade technology and a risk reward stabilizing system. These indicators and features look very impressive but the developer does not actually elaborate on these features. There is little information concerning these features since they didn’t go into the details that matter.

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Our opinion is that the developer could be making up all these stories to make the software sound more advanced than it actually is. The reason why we suspect that this is the case is because they are not going into the details pertaining to each one of these features. This leaves us with no options but to guess about the working of the software in question. This is something that we have encountered before when doing other reviews. The developers simply used complex terminology to try convincing us that their software was advanced.

Also, this is something that we have gotten used to since we started reviewing Forex expert advisors on the web. We have found that somehow most developers shun telling the truth concerning the working of their Forex robots. Not that they are hiding a secret, but it’s usually because they are making up the features to make the thing look advanced.

Gold Elevate EA in a nutshell

The price of a license is anywhere between $179-$499. The strategy and time frame was not disclosed, and they covered this up by giving us a long statement citing that the robot was equipped with this and that indicator. It trades Gold and no other pairs are supported. If you want to sign up for the Gold Elevate EA, you have 3 choices to choose from.

For $179, traders can buy one license for one live account and one demo account. For $249, we get 2 live accounts and 2 demos. For $499, the developer gives access to 4 live accounts and 4 demos. The features in each one of the 3 licenses don’t vary at all except in the amount of licenses that you can purchase in any of the 3 plans.

But let’s not forget. The developer of Gold Elevate EA has not disclosed their trading strategy and preferred time frame. We cannot ignore this. However, since the software is focused on trading Gold, it could indicate that the strategy is more distinctive. We can only guess whatever that strategy is because the developer has not gone through details.

Trading results

We have FX Blue trading results on the sales page, and that’s a good thing as far as this developer’s presentation is concerned. This account shows us a weekly return of 5% and a monthly return of 26%.

Unfortunately, after studying the results of their FX Blue account, we discover that this account was active between May and July 16 2018. The account is no longer active and we would like an explanation from the developer as to why they are showing us an FX Blue account that is no longer tracking the performance of this Forex expert advisor.

There is only one reason as to why they discontinued this account. The risk management feature failed after two months and Gold Elevate EA had no option but to burn this account as evidenced in the results. If that is not the case, then it appears the developer wanted to create numbers first and then discontinue this account because further use would have resulted in a trading account showing losses. In other words, we can’t rely on this software in the long run. It is not as reliable.

Our best advice for you

Gold Elevate EA  does not look like a robot that can be used to generate returns consistently in the Forex market place. Furthermore, the developer needs to be more transparent by providing details of their trading strategy. If they can do it, then we would learn a lot. Also, their FX Blue account was discontinued. For that reason, we only recommend these EAs.

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