Petko Aleksandrov
7/31/2026- 7/30/2026
- 7/29/2026
- 7/28/2026
I’ll be honest with you upfront. I don’t usually trust the MQL5 marketplace much. Anyone can upload an expert advisor there, slap a nice equity curve on the listing page, and call it a day. So when a vendor started coming up again and again in our community, I was skeptical at first. But one of our VIP members kept mentioning it, and eventually my team put it through the same testing process we use for every robot metatrader traders ask us about.
That’s how the Gold Reaper ended up on our radar. We ran it on demo first, alongside three other expert advisors, and three out of four turned a profit. Nothing unusual there. What made the Gold Reaper stand out enough to move it onto a live $5,000 account with IC Markets is what I want to walk you through in this Gold Reaper EA review.
What the Gold Reaper EA Actually Is
The Gold Reaper is a gold robot Metatrader built to trade XAUUSD gold, and it’s not a single strategy wrapped in a nice interface. Inside the EA, there are nine separate systems running at once, each with its own lot size, its own timeframe, and its own trade frequency. Strategy one, for example, trades on the daily candles and only fires around three trades a month. Strategy seven sits on the H1 chart and trades far more often.
That structure is part of what makes the Gold Reaper EA present itself differently from most gold scalpers I’ve tested. Most bots I come across run one system on one timeframe. This one runs a small portfolio inside a single expert advisor, and the vendor built it so the systems are balanced against each other by lot size, not just switched on and left alone.
A quick note on risk: the vendor flags strategy nine as the risky one, and honestly, we agree. We don’t trade it. Depending on the trade frequency setting (auto, moderate, intense, or extreme), the EA will automatically enable or disable certain strategies. We run moderate, which is also what the vendor recommends for new users.
How We Set It Up
We’re running the Gold Reaper on version 4.3, mostly on default settings. Only two changes:
- Trade frequency: switched from auto to moderate, per the vendor’s suggestion.
- Max allowed total drawdown: raised from 30 to 50, which also affects how the EA calculates starting lot sizes for each strategy.
There’s a third lot-sizing method too, called max risk per strategy, where you set your own risk tolerance per system rather than letting the EA calculate it. We didn’t use that one on our main account, but it’s there if you want tighter control.
One thing worth flagging, because it surprised us the first time we saw it: after we attached the EA, a wall of pending orders appeared in the toolbox. Buy stops above recent highs, sell stops below recent lows. That’s a fairly common approach for gold scalping bots, they wait for a breakout of a recent level and enter automatically. What’s less common is what happens next.
No Grid, No Martingale, Just Fixed Lot
We paused on this for a while because it looked, at first glance, like a grid system. Two trades opened at the exact same second on the 17th of February. Two more opened at the same time on the 27th of February. If you didn’t look closer, you’d assume that’s a grid or a martingale sequence adding to a losing position.
It isn’t. Each of those trades came from a different strategy inside the EA, not the same system doubling down. Strategy six and strategy five happened to fire together. Some closed at the same time, some closed later. That’s just multiple independent systems reacting to the same price levels, not one system chasing a loss. The listing itself states no grid, no martingale, no risky money management, and based on what we’ve watched trade, that checks out.
Backtest Results
Here’s the summary from our own testing, run across the full portfolio and separately by strategy.
| Metric | Detail |
| Backtest period | 5 years (60 months) |
| Starting balance | $1,000 |
| Lot size | 0.01 |
| Net profit | $4,663 |
| Max drawdown | $361 |
| Equity drawdown (1.5-2 year test) | 2.27% |
| History quality | 99% |
| Strategy 9 | Flagged risky by vendor, excluded from our trading |
The return-to-drawdown ratio is genuinely one of the better ones we’ve come across. I’ll admit I was skeptical the first time I saw it. Results that clean usually make me want to dig further before I trust them, not less.
Live Performance
We’re now tracking the Gold Reaper across two live accounts, and both sets of results are published openly on the Algo Trading Space live results page.
Account one (IC Markets, $5,000): Trading seven of the nine strategies (strategies eight and nine are excluded as higher risk).
Account two, after 100 days:
| Metric | Result |
| Monthly return | 9.4% |
| Max floating drawdown | 5.56% |
| Days tracked | 100 |
| Withdrawals so far | Two, roughly $2,000 total |
A 9.4% monthly average with a drawdown under 6% is, frankly, one of the better ratios we’ve seen from a live account running for over three months. I want to be careful here though: 100 days is not five years. We started backtesting the same period the EA had been live to see if the numbers lined up, and they did. That gives us more confidence in the longer backtest, but it doesn’t remove the fact that this is still a relatively short live sample.
Vendor Track Record vs. Our Own Numbers
The vendor, who goes by Wim, has his own published track record showing roughly 190% profit with a drawdown around 16.78%. That’s higher than what we’ve seen on our own accounts, though it also covers a longer period. Looking at his monthly breakdown: 2026 ranged between 1% and 18% per month, 2025 had two losing months (one close to a 20% drop in April), and 2024 had two profitable months and one small loss.
We can’t fully verify the vendor’s track record the way we can verify our own, since we don’t have live update access to it. That’s worth keeping in mind. It’s why we lean more heavily on our own demo and live results than on any third-party performance page, ours included, until we’ve watched it trade long enough ourselves.
Where the Community Response Sits
On the MQL5 marketplace, the Gold Reaper currently holds a 4.51 rating with a decent number of reviews. I’ll say what I always say about marketplace reviews for forex: they can be manipulated, and I have no way of confirming whether these specific ones are. I don’t put much weight on them either way. That said, community response is overwhelmingly positive when we look at broader chatter around gold scalping systems like this one, and it lines up with what our own testing shows so far.
How to Access the Gold Reaper EA
There are two routes, as far as we know:
- Buy it directly from the vendor’s website, where the Gold Reaper is sold as part of a package with three other gold expert advisors, backed by a money-back guarantee.
- Trade it through EasyAlgos, which has a deal with IC Markets: fund a live account with at least $5,000, and you get access to their full library of EAs, including the Gold Reaper, without paying the marketplace price again for each one.
We went the EasyAlgos route ourselves, mainly because we’re already testing several EAs at once and it’s easier to manage from one funded account.
Is the Gold Reaper a Reliable Option?
I don’t think anyone can promise you that with total certainty, and I’d be lying if I said this article changes that. What I can tell you is what we’ve actually seen: low drawdown across both backtests and live trading, a strategy structure that isn’t relying on grid or martingale tricks to smooth out its equity curve, and results that are excellent so far across a live sample that’s still fairly young. Results are really impressive for a system running seven or nine strategies at once, but “impressive so far” and “guaranteed” are two different things, and I don’t want to blur that line for you.
If you’re weighing whether this fits your own trading, the strategy count and adjustable drawdown settings make it flexible enough for different risk appetites: low with strategies one through three, moderate through six, and higher risk if you enable all nine.
Want to See More Than This Review?
We publish every trade, every drawdown, and every withdrawal from our live accounts on the Algo Trading Space platform, not just for the Gold Reaper but across every EA we test. If you want a closer look before committing capital, our VIP Club gives you access to demo results before they go public, along with priority support. For traders who want their account set up and configured properly from the start, our premium setup service is worth a look too. Neither is required to follow along; our results stay public either way.
Frequently Asked Questions
Does the Gold Reaper EA use grid or martingale trading?
No. Based on our testing and the vendor’s own documentation, the Gold Reaper uses fixed lot sizing across all nine strategies, with no position averaging or recovery trades added to losing positions. Trades that appear to open at the same time are usually independent strategies reacting to the same price level, not one system adding to a loss. This is one of the reasons its drawdown has stayed relatively low in both our backtests and live accounts.
How many strategies run inside the Gold Reaper EA?
Nine separate systems are built into the EA, each trading a different timeframe and lot size. The vendor flags strategy nine as high risk, and we exclude it from our own trading. Depending on the trade frequency setting you choose (moderate, intense, or extreme), different combinations of strategies get enabled automatically.
What broker do you use to test the Gold Reaper EA?
We test on IC Markets, mainly because of their leverage options, fast execution, and large range of tradable instruments. You can access the Gold Reaper through EasyAlgos by funding an IC Markets live account with at least $5,000, which also unlocks their other listed expert advisors.
What kind of drawdown has the Gold Reaper EA shown so far?
Our backtests show drawdown as low as 2.27% over an 18-24 month period, and our live account has run with a max floating drawdown around 5.56% over 100 days. The vendor’s own track record shows a higher figure, closer to 16.78%, over a longer stretch, so results vary depending on the timeframe and how many strategies are active.
Is the Gold Reaper EA a scalping system?
Yes, it’s built around breakout-style scalping on XAUUSD gold. It places pending buy stop and sell stop orders around recent highs and lows, then closes trades relatively fast once triggered rather than holding large floating positions.
