Bonanza EA is a very new Forex solution. The vendor published it on MQL5 about two months ago, and so far, some traders have tested and used it. There are claims that Bonanza trades safely. But is it profitable? We review the robot in detail and later advise you whether you should use it or not. 

Elizaveta Erokhina is the author of this EA. She is also selling Tiburon EA, Candle Banker, and Level Wizard EA on MQL5. Her profile is not comprehensive enough. It leaves out information on her trading experience and skills.  

Bonanza EA: characteristics

The features and recommendations of the system are outlined below: 

  • Hard stop loss and take profit for every position.
  • Easy to set up.
  • Not sensitive to broker stipulations. 
  • No martingale, grid, or other risky approaches. 
  • Recommended: ECN broker.
  • The minimum recommended deposit is $300.

Currency pairs, strategy & timeframe

We have additional features below:

  • Main working pair: XAUUSD.
  • The working timeframe is 1 hour.

The developer describes the strategy of the EA as follows:

  • It uses intricate methods to look for accurate points of entry and exit. 
  • Focuses on long-term trading. 
  • It uses its own price action algorithms along with the developer’s indicator. 

In the next section, we determine the efficiency of the strategy by looking at its long-term performance and live trading stats. 

Bonanza EA trading performance

There are 3 backtest reports, but they are not detailed. We are beyond disappointed. We had hoped that it would help us to ascertain the workability of the trading algorithm over an extended period of time. As you can see in one of the reports below, we only have information about the period of testing, which particularly occurred between 2010 and 2021. The lot size used was 0.05. Other trading metrics like the profit factor, number of trades, drawdown, win-rates, etc, are not featured. 

Backtest report.

We have unverified trading results. The data tells us that the robot has executed 104 trades since the account was activated on August 14, 2021. Nearly all the orders are profitable (99.03%). Therefore, we have a net profit of $549.29 from a deposit of $1000. So far, the maximum drawdown is 22.5%. 

The poor performance of the trades does not instill any confidence in the EA’s efficiency. Out of all the orders taken, only 52.88% of the long and 47.12% of the short positions were won. When we compare the average win ($8.76) and the average loss (-$352.54) it is apparent that the robot has a high losing streak. 

Trading stats.
Trading performance.

How much does it cost?

Bonanza is an overpriced EA. The vendor wants anyone interested in the product to pay $499. The other option is to rent it at $300 for a month. We believe that the system is not worth this price mainly because it has a low win rate. The lack of a money-back guarantee further strengthens our conviction.

Bonanza EA’s cost.

Reviews from customers

The presentation includes 7 customer reviews. Five out of seven of these testimonials are positive. The remaining customers are aggrieved by the performance of the EA. They imply that the trading style implemented isn’t effective and can lead to losses. 

Customer testimonials.

Should you use Bonanza EA?

Is easy to set upLow win rate
Live trading stats are unverified
Inadequate vendor transparency
Short trading history


If the live trading stats are anything to go by, then it is evident that Bonanza isn’t that profitable. In two months, it has only made approximately $500. In addition, more than 20% of the capital has been eaten away. Since we are oblivious to the vendor’s trading skills, we don’t have confidence in her. The strategy used by her product will likely worsen the situation of the account. So, you better stay away from Bonanza.