BlackQueen EA Review: A Fully Automated Trading Robot

The BlackQueen EA is a fully automated trading system designed for the popular MetaTrader 4 and MetaTrader 5 platforms. It was launched in 2021 by developer Mikhail Sergeev and promises stable entry points and multi-currency trading capabilities. But does this expert advisor deliver consistent profits? Let’s take an in-depth look in this BlackQueen EA review.

BlackQueen EA

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Overview of the BlackQueen EA

BlackQueen is marketed as a professional-grade trading robot capable of fully automated executions across 7 major currency pairs – EURUSD, GBPUSD, AUDUSD, NZDUSD, USDCHF, USDCAD, and USDJPY.

It uses an undisclosed trading strategy to identify entries and exits, with the goal of capturing market swings over the hourly timeframe. The developer claims years of testing and optimization has made the system robust and profitable in live trading conditions.

Some of the main features highlighted by the vendor include:

  • Stable entry points based on analysis of global price action
  • Supports hedging accounts for additional risk management
  • Advanced money management to preserve capital
  • User-friendly interface for easy configuration
  • Unlimited customization potential

The EA is currently selling on the MetaTrader Marketplace for $371, which includes a lifetime license with free updates. For temporary access, 1-month and 3-month rental options are also available.

So based on the marketing material, BlackQueen checks many of the boxes for a institutional-grade trading system. But does real-world performance match the promises and the price tag? Let’s analyze in more detail.

Assessing the Trading Strategy and Historical Performance

Evaluating any EA must start with examining how the system trades and whether it has proven itself profitable in past market conditions. Unfortunately, the vendor provides limited information in these critical areas.

There are no verified backtests published, making it impossible to objectively analyze key metrics like profit factor, max drawdown, win rate, risk-reward ratio, etc. The developer only shares a equity curve from an 11-year backtest, but without context on the parameters used, it’s of little value.

Live trading statistics are also conspicuously absent. The only account data featured is a short 2-month period showing a $15 gain. Such a limited track record gives no confidence the robot can sustain profits long-term.

This lack of transparency around real historical results raises red flags. If BlackQueen was robustly profitable, the vendor would prominently showcase extended backtests and live account growth to build trust. The fact such proof is not provided suggests the strategy may be unreliable or carries significant risk of drawdown.

Without verified statistics, traders must rely on customer reviews for performance insights. But here again, objective user experiences are hard to find. In fact, after extensive searching, I could only locate one review on the entire internet specifically for the BlackQueen EA. And unsurprisingly, it was a short positive testimonial on the vendor’s own MetaTrader Market listing.

The absence of candid customer commentary again sets off alarm bells. For context, most proven EAs have earned hundreds if not thousands of reviews across forex forums and websites. That a system selling for nearly $400 has almost no feedback suggests it likely fails to meet expectations.

Overall, the lack of transparency and verification around BlackQueen’s trading strategy and historical results makes it impossible to recommend. At best, it’s an optimistically marketed EA with mediocre profit potential. At worst, it could be an outright scam system meant to exploit unsuspecting buyers. Without proof of efficacy, traders should stay far away.

Assessing the Costs and Guarantees

Even if an EA’s underlying strategy raises doubts, competitive pricing and refund guarantees can offset some of the risk. Unfortunately, BlackQueen again falls short in these areas.

At $371 for a lifetime license, BlackQueen sits at the higher end of the pricing spectrum. For comparison, traders can gain access to EAs with years of verified real account results for $200 or less. So the cost seems disproportionate to the unproven nature of the product.

Making matters worse, no return policy or trial period is offered. You must pay the full license fee up front with no way to test drive before committing. And if you find the software fails to perform as advertised, there is no recourse for a refund.

This lack of money back guarantee or free trial gives the vendor little incentive to stand behind their product. Contrast this to reputable EA sellers who allow months of free use to build trust.

Overall, charging a premium price for an unverified EA – with no possibility of refund if it underperforms – exposes traders to unacceptable levels of financial risk.

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Assessing the Vendor Reputation and Support

The final aspect to scrutinize is the reputation and reliability of the vendor selling the EA. Specifically:

  • How long have they been selling software?
  • Do they specialize in EAs or offer a wider array of products?
  • What is the quality of customer service and technical assistance?

Vetting these details helps gauge if the developer can be counted on to deliver a functioning product and provide ongoing post-purchase support.

In the case of BlackQueen, the system is sold by Russian developer Mikhail Sergeev via the MetaTrader Market. Searching online returns almost no background on this individual except that he offers multiple other EAs for sale.

With no trading credentials listed and limited history selling software, it’s hard to establish trust in his abilities. Compounding matters, communication channels are restricted to email, with no phone or live chat options.

This combination of an unknown one-man developer and restricted customer service leaves traders isolated post-purchase. If any setup or compatibility issues emerge, or if the software fails to work as advertised, users may find it difficult to get resolutions.

For context again, all reputable EA vendors have an established public track record and offer multiple avenues for timely communication. That BlackQueen comes from an obscure seller with limited support should make any trader hesitate before handing over hundreds of dollars.

Verdict: BlackQueen EA Remains an Unjustified Risk

In summary, while the BlackQueen EA markets itself as a top-tier automated trading solution, a closer inspection reveals multiple areas of concern:

Lack of transparency – No verified backtests or account statements provided to judge historical performance.

No community reviews – Almost no independent customer commentary available online.

Expensive pricing – $371 lifetime license fee not justified given unproven profit potential.

No refunds – Inability to test before purchase or get money back if software underperforms.

Unknown vendor – Little public information on developer background or qualifications.

Limited support – Restricted communication options if software issues emerge.

With so many red flags, traders should think twice before purchasing the BlackQueen EA. Until transparent performance reports are published and candid user reviews emerge, the product remains an unjustified financial risk.

For those seeking a reliable automated trading system, better options exist that are affordably priced and sold by reputable vendors with years of public track records. Do your due diligence, and only trust your capital to credible technologies with verified real account results.

Author: Dominic Walsh
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I am a highly regarded trader, author & coach with over 16 years of experience trading financial markets. Today I am recognized by many as a forex strategy developer. After starting blogging in 2014, I became one of the world's most widely followed forex trading coaches, with a monthly readership of more than 40,000 traders! Make sure to follow me on social media: Instagram | Facebook | Linkedin | Youtube| Twitter | Pinterest | Medium | Quora | Reddit | Telegram Channel

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