Gold Reaper EA Review MT5
The Bottom Line
Inconclusive. The Robotic Trader rates The Gold Reaper Inconclusive: its main live signal is strong, but the record has only just reached our two-year minimum, and the developer's other Gold Reaper accounts show a wider range of results (largest falls of 18.82% to 45.64%) than the one the sales pages display (16.89%). The signal Profalgo Limited links from the MQL5 product page is a real-money account, verified by Myfxbook, that grew 326.06% from 22 October 2024 to 22 October 2026 across 905 trades, with a profit factor of 2.09 and a largest fall of 16.89% on closed trades (MQL5). We found no systematic grid, averaging or martingale pattern in its closed-trade history, and no position stayed open longer than about 6.4 days (our calculation).
Why it is not Recommended. Four things hold it back:
- Length. The record reached 24 months on 22 October 2026, the day before we read it. October 2026 is a losing month so far (−6.77%, MQL5), and trade size relative to the balance rose that month.
- The range. Profalgo publishes three other real accounts running Gold Reaper, none linked from the product page. Their largest falls were 18.82%, 31.19% and 45.64% (MQL5 and Myfxbook, read 23 October 2026). On the account titled "default settings", the 45.64% fall ran from August to October 2024, and the balance stayed below its previous high for about ten months, regaining it on 29 May 2025.
- Nothing independent to cross-check. The Myfxbook account the vendor displays is the same account as the MQL5 signal, so it is one record, not two. We found no independent long-run record of the EA.
- The software changed during the record. The signal ran a series of versions, from 2.2 to 5.5, and some of them changed how stops and trade sizes work.
What this verdict covers. It covers the MT5 version as run on the main live signal (MQL5 2265877), whose description reads "Fake Breakout Filter = Medium · Moderate trade frequency · 30% max DD". The 30% figure is an EA setting, not a guaranteed limit on losses; we have not tested how it is enforced. Higher-risk settings are not assessed, and we found no MT4 live record we could check. US brokers (FIFO, no hedging): not compatible as run — see the price and licence section. What would move this verdict up or down is set out in the disclosures below.
Evaluation Methodology
We assessed The Gold Reaper on its live record (Track 1 of our methodology). We read the live signal linked from the MQL5 product page, pulled its closed-trade export from MQL5 and reconciled it with MQL5's published profit. The signal is the same account as Myfxbook "Gold Reaper V3.0", which the vendor's site displays. We then looked for every other Gold Reaper account the developer publishes: his MQL5 signal list, his Myfxbook profile, and MQL5's signal search, which found one account the signal list does not show. We pulled the closed-trade export of the oldest of them as well. We tested the main history for averaging, martingale, hedging and stacked entries, measured how long positions stayed open, checked how much of the profit depends on the best days and entries, and tracked trade size against the balance. We also read the MQL5 product pages and update log, the user manual (version 5.1), the developer's settings files, the vendor's site, terms and blog, his September 2026 book, Trustpilot and other reviews. We also ran the developer's two prop-firm settings files through our FTMO test: the current Gold_reaper_propfirm.set and the older propfirm__1.set, which the product page links.
Live Performance Data
The real-money MQL5 signal linked from the product page, which this verdict covers, read on 23 October 2026, followed by the developer's other Gold Reaper accounts.
Gold Reaper New V2 2
The developer's other Gold Reaper accounts
A fourth MQL5 signal, "Gold Reaper Goldtrade Pro Daytrade Pro" (2204998), runs three of the developer's EAs on one account, so its results cannot be attributed to Gold Reaper.
The default-settings account, in detail (our calculation from its 1,356 exported trades):
How the EA Trades — What the Histories Show
The Gold Reaper trades breakouts of support and resistance levels on XAUUSD, using up to nine internal strategies that the manual groups by risk (1–3 low, 4–7 medium, 8–9 high). The developer says every trade has a stop loss and take profit and is then managed with a trailing stop. The manual (version 5.1) describes a "Fake Breakout Filter" that closes a trade early if the candle it entered on closes against it.
- No systematic grid, averaging or martingale pattern found in the main signal's closed-trade history. The EA added a same-direction trade at a price more than 0.3% worse than an open one only twice, both on 28 September 2026 (0.36%). We found no systematic increase in trade size after losses: relative to the balance, size averaged 0.0140 lots per $1,000 after a losing entry and 0.0148 after a winning one (our calculation). This describes the history, not what the software could do on other settings.
- It has hedged. On seven occasions, all in December 2024, it held a buy and a sell on gold at the same time (our calculation).
- Several strategies, one move. Trades arrive in groups. At most 13 positions were open at once (19 February 2025), and the largest open volume was 0.23 lots (22 October 2026). Losses on positions opened together add up, which is how a day can cost more than any single trade: the worst single trade cost 3.24% of the balance, and the worst day 6.49% (our calculation).
- Stops. The losses are bounded, which is consistent with a stop on every trade, but the export does not show stops. Since version 4.9 (30 September 2026) the EA offers "virtual" stops, held by the EA rather than placed with the broker; we have not tested how they work.
- Profit comes in bursts. Its best 10 days produced 58.8% of the profit ($2,899.42 of $4,932.61), and its 10 best entries (trades opened in the same hour and direction) 62.9% (our calculation). MQL5 says "80% of growth achieved within 29 days", 4.01% of the days it counts, and since 10 June 2026 has flagged that the "share of days for 80% of growth is too low".
- It passes our published test of removing a few exceptional results: without its 10 best days the account keeps $2,033.19.
- But a buyer who stops during a flat spell can miss most of the profit.
- Trade size changed. Measured in lots per $1,000 of balance, size fell from about 0.0078 in late 2024 to about 0.0027–0.0031 through 2026, then rose to 0.0047 in October 2026, with single trades up to 0.06 lots (our calculation). Version 3.0 (2 December 2024) made stops widen as the gold price rises and cut trade size to match, which is consistent with the fall; we have not established why size rose in October 2026.
- Both directions earned, over a period in which the entry prices in the record rose by about half overall and fell back after February 2026. That is better than a buy-only record, but it is still one instrument through one period.
- The software changed during the record. The signal started on the day version 2.2 was released and now runs 5.5. Version 3.0 changed stops and trade sizing, version 3.5 (17 July 2025) fixed trade sizing during drawdowns, version 4.9 added virtual stops and version 5.0 (2 October 2026) added news filters. The update log shows no re-optimisation of the strategies.
How Long Losses Stayed Open
We publish the longest positions because averages hide the ones that matter — see our methodology.
What the Seller Says, and What the Record Shows
Quoted from the vendor's Gold Reaper page and terms, the MT5 product page on MQL5 and the developer's own writing, read on 23 October 2026.
FTMO Prop-Firm Test
The developer claims prop-firm suitability ("PROP FIRM READY!" on the MQL5 product page) and supplies settings files, so we ran his two prop-firm files through our FTMO test.
- The current file,
Gold_reaper_propfirm.set(dated 21 May 2024), is in the settings pack the developer posted on MQL5 on 8 October 2026. - The older file,
propfirm__1.set, was posted on 29 January 2024 as a "SET FOR PROP FIRMS using max historical DD of 9% and max daily drawdown of 4%". The product page still links it.
Both set the EA's own limits at a 9% overall and a 4% daily drawdown. They differ in one input, "Randomization", which shifts entries, stops and targets by a random number of pips: 50 in the current file, 0 in the older one. Neither sets the newer inputs, such as the Fake Breakout Filter, which ran at version 5.5's defaults.
What we did.
- Setup: we ran each file unmodified on The Gold Reaper MT5 version 5.5 in the MetaTrader 5 Strategy Tester. The tester was logged into an FTMO Free Trial, so the prices, spreads and commission were FTMO's own. The test used:
- XAUUSD on the H1 chart
- from 1 January 2025; the current file's run includes 22 October 2026, and the older file's ends with 21 October (the tester's end date is not included, and we set it a day earlier for that run). Neither file traded from 10 to 21 October
- every tick based on real ticks (99% history quality)
- £10,000 at 1:100
- Equity estimate: FTMO's loss limits count open trades, so we estimated each account's equity minute by minute from FTMO's one-minute gold prices, which we hold to 16 October 2026. Open trades were valued at the worst price in each minute (the low for buys, the high plus the recorded spread for sells), and overnight swap was spread across the nights each trade was held. This is a minute-based estimate of the worst point, not a tick-by-tick record of the account's equity. All the limit checks below fall before that date.
- Cross-check: the estimated lowest equity matches the tester's own (£9,609.24 against £9,609.00, and £9,714.17 against £9,714.03). That confirms one point closely; it does not prove the estimate is accurate to the pound at every daily reset. Execution delays and slippage were not modelled.
- Timing: both files, and the developer's last change to how the strategies set stops and trade size (version 3.0, 2 December 2024), predate the test window, and the update log shows no re-optimisation. Later versions did change trade management, including virtual stops (4.9) and trailing-stop code (5.1). We tested the current version 5.5, so this is a retrospective test, not a forward one.
The rules. FTMO's rules were read on 23 October 2026 and applied to past prices; these are not claims about challenges bought or taken in 2025. For a £10,000 account:
The current file (Gold_reaper_propfirm.set)
Result for the current file: this simulated run stayed inside FTMO's 2-Step Challenge-phase limits. Our estimate put it £8.94 beyond the 1-Step's daily limit, a margin too small for a firm pass-or-fail conclusion about the file.
- What happened on 20 January. Five buys, 0.11 lots in all, were opened on 16 January 2025 at about $2,722 and held over the weekend: the file leaves the EA's Friday close switched off. Gold fell on the Friday and again early on Monday 20 January. FTMO measures each day from the midnight balance, which open trades do not change, so the loss still open from the Friday counted again on the Monday: by 02:06 Prague time equity was £308.94 below that day's starting balance. The file's own 4% daily stop sits above the 1-Step's 3% limit.
- Why we do not call it. We have not established the estimate's accuracy at a margin of £8.94. The file also has randomisation switched on, so this run is one sample; we have not tested how much repeated runs vary. The structural point does not depend on the margin: the file's own daily stop is set looser than the 1-Step's limit.
- The verification phase is only a proxy. Continuing the same run, another £500 (5% of a fresh £10,000 account) was made by 26 August 2025 without a 2-Step limit being broken. We did not rerun a fresh £10,000 account.
The older file (propfirm__1.set)
It is the same file without randomisation, run over the same dates except 22 October 2026. We checked it the same way.
- Challenge phase complete: 15 May 2025, 19 minutes after the current file, with £11,045.86 and all positions closed. 36 trading days.
- Daily loss: worst day £196.86 (27 March 2025). That is £303.14 inside the 2-Step limit and £103.14 inside the 1-Step limit. On 20 January 2025 it lost £196.42.
- Maximum loss: lowest equity £9,714.17 (20 January 2025), clearing the 2-Step floor by £714.17. Before completion it was never closer than £637.68 to the 1-Step trailing floor.
- Consistency: the best day was 25.1% of profit at completion.
- Result: this simulated run stayed inside both the 2-Step Challenge-phase limits and the 1-Step's. Continuing the run, another £500 was made by 1 September 2025 without a 2-Step limit being broken.
- Whole run (tester figures, to 21 October 2026): +£4,679.39 (+46.8%), a profit factor of 2.28, 844 trades.
The two files differ in one setting, yet the runs took different trades: 1,031 against 844 over the same dates to 21 October 2026, and on 20 January 2025 the older file's run lost £196.42 where the current file's lost £308.94. Read these as two samples, not a forecast.
These are tests of two configurations against one firm's published rules, from 1 January 2025 to October 2026 at 99% real ticks. They are not an assessment of the Expert Advisor, and they do not predict future results. The rules tested were those published by FTMO and checked on 23 October 2026; prop firm rules change without notice.
The update log and manual describe prop-firm features. In the developer's words, version 1.50 (13 May 2024) added entry, stop and target offsets "to help prevent prop firms from flagging copy trading", and the manual describes Randomization as existing "for prop-firm accounts: if you run the same EA on several accounts, identical trades across them can be flagged as copy trading". FTMO allows EAs. It warns that other traders may run the same EA, and so the same strategy, which can matter under its maximum capital allocation rule. These features do not in themselves show that any account broke a firm's rules; randomisation was on in the current file and off in the older one. Read your firm's rules before using any EA on a funded account, these options included.
A conformance result is never a verdict on the EA.
Price and Licence Terms
Key Evaluation Criteria
✅ met · ⚠️ met, with a concern we state · ❌ not met. The concerns marked ⚠️ are why the verdict is Inconclusive rather than Recommended.
- No wipeout or near-wipeout: on the record rated here, the main signal's largest fall was 16.89% by balance (MQL5). Across the developer's four Gold Reaper accounts the largest was 45.64% (default settings, 2024).
- No grid, averaging, martingale or recovery sizing observed: no systematic pattern in the main signal's closed-trade history, and no systematic increase in trade size after losses. Two same-direction adds at a slightly worse price and seven hedges are disclosed above.
- Drawdown in line with the marketing: yes for the record the vendor displays (about 15% claimed; 16.89% recorded). The developer's three other Gold Reaper accounts fell further (18.82%, 31.19%, 45.64%), and the sales pages do not mention them.
- Edge: profit factor not near 1.0 across a large sample: 2.09 over 905 trades (MQL5); recovery factor 8.91.
- Not dependent on a few individual results: profitable without its 10 best days (+$2,033.19), but those days produced 58.8% of the profit, and MQL5 flags the share of days behind its growth as too low.
- Third-party verified track record: real account on MQL5; Myfxbook track record and trading privileges verified.
- Real-money record of 24+ months and 300+ trades: met on 22 October 2026, the day before we read it: 24 months and 905 trades. It is the minimum, with no independent record to cross-check it.
- No position held open beyond 90 days: longest position about 6.4 days (152.4 hours).
- Claims match the record: the drawdown and 2025 return claims match the main signal. But: the blog's "no 5–6% single-day" claim is contradicted by a −6.49% day; the backtest's three-loss maximum has been exceeded live (a limit of the backtest, not proof it was misreported); "set it up once and leave it running" contradicts the vendor's own terms; the ranking claims are unsourced; the "Final price: 990$" warning remains on a listing published in February 2024.
Suitability & Risks
What the record does show
What the main live signal's verified record supports.
- Two years of real-money trading on the main live signal, verified by Myfxbook and published on MQL5 by Profalgo Limited.
- A profit factor of 2.09 over 905 trades, profitable both buying and selling.
- No systematic grid, averaging or martingale pattern, and no systematic sizing up after losses, in the main signal's history.
- Positions last minutes to days; the longest was about 6.4 days.
- The vendor's site shows the live Myfxbook figures for the account it displays, drawdown included.
What to watch
Every item is sourced to the developer's own signals, pages, manual or update log.
- A wider range than the sales page shows: the developer's other Gold Reaper accounts fell 18.82%, 31.19% and 45.64%, and after the 45.64% fall that account stayed below its previous high for about ten months.
- A short record: two years is our minimum, and October 2026 is a losing month so far on the main signal (−6.77%) and on the default-settings account (−14.7%).
- Profit in bursts: most of it comes on a small number of strong gold days, so stopping during a flat spell can mean missing the days that pay.
- Stacked entries: several strategies can trade the same move, so losses add up across positions opened together; the worst day lost 6.49%.
- One market: the record covers one instrument through one period. The developer sells several gold EAs and a bundle of four; running them side by side adds to the same gold exposure.
- Changing software: the signal ran versions 2.2 to 5.5, and trade size relative to the balance rose in October 2026 for reasons we have not established.
- Copying the signal is not the same as running the EA: many MQL5 subscriber reviews report trades not copying or filling at different prices, and the developer replies that "the best way is to run the actual EA".
- MT4: not assessed; we found no MT4 live record we could check.
Important Disclosures
Towards Recommended — we will reconsider at the December re-verification, and again after a further six to twelve months, if all of these hold:
- The main signal keeps running without being replaced, and its drawdown stays consistent with the risk disclosed here, without a material deterioration;
- The October 2026 rise in trade size is explained, and the October 2024 sizing pattern on the default-settings account does not recur;
- A second record we can cross-check appears, such as an independent long-run account running the EA.
Towards Not Recommended — any of these triggers an immediate reassessment, not an automatic change of verdict:
- The main signal is withdrawn, hidden, replaced or loses Myfxbook's verification;
- The sizing pattern seen on the default-settings account in October 2024 recurs on any Gold Reaper account the developer publishes;
- A drawdown materially larger than the marketing states, on the account the vendor displays;
- A position or open loss is held for 90 days.
Frequently Asked Questions
Is The Gold Reaper a scam?
We found no evidence that it is. It has a two-year real-money record, verified by Myfxbook and published on MQL5 by a registered company, Profalgo Limited in Malta, and its trading history is consistent with what the developer describes: breakout trades on gold, with no systematic grid or martingale pattern. We rate it Inconclusive because that record has only just reached our minimum and the developer's other accounts show a wider range of results, not because of any sign of a scam.
Why is The Gold Reaper rated Inconclusive and not Recommended?
Its main live signal passes our checks: 905 trades, a profit factor of 2.09, a 16.89% largest fall and no position held longer than about 6.4 days. But it reached 24 months only on 22 October 2026, nothing independent cross-checks it, and the developer's three other Gold Reaper accounts fell 18.82%, 31.19% and 45.64%. The disclosures set out what would move the verdict either way.
Does The Gold Reaper use martingale or a grid?
We found no systematic grid, averaging or martingale pattern in the main live signal's closed-trade history, and no systematic increase in trade size after losses. That describes the record, not every setting the software allows. It does open several trades together when its strategies agree, so one failed move can cost several times a single trade: its worst day lost 6.49% of the balance. It also held a buy and a sell at the same time on seven occasions in December 2024.
Is the Gold Reaper live record verified?
Yes. The main live account is an MQL5 signal published by Profalgo Limited, and the same account on Myfxbook shows track record and trading privileges verified (23 October 2026). Because it is one account on two platforms, it counts as one record.
What drawdown should I expect from The Gold Reaper?
On the main live signal the largest fall on closed trades was 16.89% (MQL5, October 2024 – October 2026), and the worst single day lost 6.49% (our calculation, 7 March 2025). On the developer's other Gold Reaper accounts the largest falls were 18.82%, 31.19% and 45.64% (MQL5 and Myfxbook, read 23 October 2026); after the 45.64% fall in 2024, that account stayed below its previous high for about ten months. The main signal's 30% maximum-drawdown setting is an input, not a guaranteed cap. Past drawdowns are not a ceiling.
Can I use The Gold Reaper on a prop-firm challenge?
We tested the developer's two prop-firm settings files in a simulation on FTMO's own data.
- The current file's run stayed inside FTMO's 2-Step Challenge-phase limits, reaching 10% by 15 May 2025. Our estimate put it £8.94 beyond the 1-Step's 3% daily limit on 20 January 2025, after it held trades over a weekend: too small a margin for a firm conclusion.
- The older file's run (the file still linked on the product page) stayed inside both. Its worst day was £103 inside the 1-Step's daily limit.
These were backtests with equity estimated minute by minute, not live challenges, judged against FTMO's rules as read in October 2026. The current file randomises its trades, and we ran it once; prop-firm rules change. Check whether your firm allows the same EA on many accounts.
What do MQL5 buyers say about The Gold Reaper?
On 23 October 2026 the MT5 version was rated 4.43 from 120 reviews and the MT4 version 4.61 from 37; the seller states 140 purchases a month. These are buyers' views on the marketplace where it is sold, not verified results, and they play no part in our verdict.
Can I use The Gold Reaper with a US broker?
Not as it runs on the live record. The main signal held opposing gold positions on seven occasions and often closed a later trade before an earlier one in the same direction, so it would not run as recorded on an account that bars opposing positions and requires first-in, first-out closing, as US retail forex dealers do. We did not find a FIFO setting on the product page, in the manual or in the update log, and we have not tested a compliant configuration.
Discover More EAs
For the same developer's gold breakout EA, which we recommend on its main live setting, see our Gold Trade Pro review; for a gold EA that averages into losing trades, see our Forex GOLD Investor review. Our guide to martingale, grid and scalping EAs explains the difference.
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