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Golden Raven EA Review – An In-Depth Analysis

The Golden Raven EA is an automated trading system (Expert Advisor) for the MetaTrader 4 platform that promises consistent profitability for forex traders. But does it deliver on its claims? This in-depth review analyzes all aspects of the Golden Raven EA to determine if it’s worth the $1000 price tag.

Golden Raven EA

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Overview and Features

The core selling point of the Golden Raven EA is “hands-free” automated trading that removes emotion and consistently generates profits. It uses complex trading technology to analyze the markets and execute trades automatically based on its algorithms.

Some of the key features highlighted on the Golden Raven EA website include:

  • Automated Trading: Trades executed automatically based on algorithms, no manual intervention needed.
  • Consistent Profitability: Claims to provide steady profits month after month.
  • Pass Funding Challenges: Able to achieve profit targets required by prop firms to get funded.
  • No Trading Experience Needed: Suitable even for beginners with no prior trading knowledge.

The EA works on the popular MetaTrader 4 platform and comes preloaded with settings optimized for trading instruments like US30.

Underlying Technology

While the developers do not reveal the exact logic behind the Golden Raven EA, some clues can be found on their website and user reviews:

  • Uses complex algorithms that analyze market conditions to determine entries and exits.
  • Leverages machine learning to continuously improve performance.
  • Targets consistent risk-reward ratios for high probability setups.
  • Implements smart risk management to preserve capital.

The EA is also described as “prop firm friendly” due to its manual-like execution that passes prop firm requirements.

Overall the technology seems promising on paper but lacks transparency on how exactly it works under the hood.

Pricing and Purchase Options

The EA is available for purchase on their official website goldenravenea.com for a one-time fee of $1000.

Occasionally discounts are offered, like 20% off when using the code “INSTA20” at checkout.

There also appear to be resellers distributing the EA on platforms like Carousell and ForexStoreEA for around $50. However the legitimacy of these versions is questionable.

The EA license allows use on one live and one demo trading account. Additional licenses can be purchased at a discount.

Performance Metrics and Backtests

Golden Raven EA markets exceptional performance metrics:

  • 80%+ win rate on average across all pairs
  • 1:4 risk-reward ratio targeting 400 pips profit vs 100 pips loss
  • 8-10% per month profit target achieved consistently

However no verified backtests are published to validate these metrics. All results shown on their website are clearly disclaimed to be hypothetical.

Some user reviews do show accounts growing at steady rates of 5-15% per month. But it’s impossible to confirm if these results are consistently achievable.

Without verified backtests, traders must rely purely on vendor claims and user testimonials regarding profitability.

Customer Reviews and Ratings

Being a relatively new EA launched in 2022, there are not many customer reviews available yet across independent platforms.

Most testimonials are from the Golden Raven website itself, which could be biased. However a few third-party sources provide some insight:

  • Trustpilot: No rating available
  • Forex Peace Army: No reviews yet
  • Comments under YouTube review videos: Mostly positive feedback

The lack of reviews limits transparency into real user experiences. Potential buyers are advised to exercise caution until more impartial customer feedback is available.

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Usage and Compatibility

The Golden Raven EA comes as a self-contained EX4 file that works on the MetaTrader 4 platform. Installation involves just dragging the EX4 file onto the MT4 charts.

Compatibility is not officially confirmed for MT5 yet. Users running MetaTrader 5 may want to get clarification from the vendor before purchasing.

The EA works on both demo and live accounts. Using it with a prop firm like FTMO to pass their funding challenges is specifically highlighted as a key use case.

No specific broker is recommended, so traders need to assess broker compatibility on their own based on execution quality.

Golden Raven EA Pros and Cons

Here is a summary of some notable pros and cons of using the Golden Raven EA:

Pros

  • Fully automated trading saves time
  • Preconfigured settings for easier setup
  • Targets consistent risk-reward ratios
  • Created specifically for prop firm challenges
  • No trading experience required

Cons

  • Expensive for retail traders at $1000
  • No verified backtests provided
  • Little impartial customer feedback available
  • Questionable legitimacy of discounted versions
  • Compatibility and quality concerns over reseller copies

Golden Raven EA – Verdict

The Golden Raven EA shows potential but lacks transparency in key areas like verified backtests and impartial customer feedback. Traders are advised to exercise caution given the high price tag.

Less experienced retail traders may be better served by proven automated systems like FX Fortnite which costs almost 5 times less. Prop firm traders specifically can consider it given its focus on achieving funding challenge targets.

As more impartial user reviews emerge, the true capabilities of the Golden Raven EA will become clearer. But until then, proceed with realistic expectations taking into account its pros and cons relative to alternative expert advisors. Use proper risk management given the lack of long-term track record.

With prudent precautions, the hands-free automated trading promised by Golden Raven EA could simplify a trader’s life if it consistently delivers.

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 | Youtube| Twitter | Pinterest | Medium | Quora | Reddit | Telegram Channel

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