BelkaMiner - Review

Based on backtest and analysis
8 user ratings
MetaTrader 4, MetaTrader 5
Market place:
MetaTrader Market

229 USD

Latest tested version:
Latest tested date:
Jun 4, 2020

Description from vendor:

BelkaMiner is a fully automated breakout/momentum/reversal trading system (platform) based on Neural Networks and the most well-known clustering algorithm that is used for unsupervised Machine Learning and statistical data analysis (Data Mining).


  • Demo signal available & profitable
  • Real signal available & profitable
    • Total Equity of real signal > 5 000 USD
    • Real signal older than one year
  • Buyer reviews credible & coherent
  • Passive & balanced marketing strategies
  • Sincerity & honesty of provider convincing (no signs of fraud)
  • Avoidance of dangerous strategies
  • Explanation of operation adequate
  • Backtest feasible
  • Set files available or not required

Notes on the checklist:

If even only one point has to be answered with no, caution is advised. Furthermore, the presence of a profitable demo signal has a low significance for us. Because even if a demo signal exists and is profitable, no profitability on the real signal can be derived from it. Only if the existing demo signal is unprofitable, the real signal will be unprofitable with very high probability.

The checklist is based on the hints that can be read here: How to Detect and Avoid Expert Advisor Fraud and Scams

Please note:

Be careful with recently released Expert Advisors

Avoid dangerous strategies

How to detect and avoid Expert Advisor scams.

Live signals

Live signals from the vendor
  • MQL5 Market (URL:, offline since June 5, 2021)
  • Myfxbook (URL:, offline since February 24, 2022)
Live signals from FOREX [decrypted] (for analysis only)
BelkaMiner | large

Raw backtest results

The original set files provided by the seller were used.

The backtest results can only be viewed properly on high resolution screens. Occurring various anomalies (e.g. missing ticks for specific time periods) in the backtest results were analyzed and removed with the Quant Analyzer 4 from StrategyQuant. Based on this analysis all further signal processing and statistical analysis were performed with Matlab from MathWorks.

Click on one of the tabs below to open the corresponding backtest.

Statistical analysis

SetfileSortino RatioDownside DeviationIndependence Factor

Single setfiles / strategies

The two following figures show the single setfile or strategy results with unchanged performance results (left) and results modified taking into account the risk and independence factor (right). Due to the normalization the final balances in the right curve are irrelevant, what counts is that the balance sheets with higher risk and higher correlation are weighted lower.

BelkaMiner | belkaminer balance single strategies
BelkaMiner | belkaminer balance single strategies norm ind

Portfolio with all setfiles / strategies

The two following figures show the portfolio balance with unchanged performance results (left) and results modified taking into account the risk and independence factor (right). Due to the normalization the final balance of the right curve is irrelevant, what counts are the slightly smoother curve and the statistics.

BelkaMiner | belkaminer balance portfolio
BelkaMiner | belkaminer balance portfolio norm ind

Final statistical results of the portfolio

The optimization shows an improvement of the Sortino ratio by about 16%. The other parameters have slightly deteriorated. This is not surprising, because it seems that some strategies show a much better performance regarding these parameters. The weighting of these strategies is now reassessed by applying the downside deviation within the portfolio and adjusted accordingly.

The strategies are still relatively new and must therefore be observed with regard to their live performance and tested again in the foreseeable future.

Portfolio related factors (on monthly basis)UnweightedWeightedImprovement
Sortino ratio3.39093.941616.24 %
Return/Drawdown ratio32.63930.7471-5.80 %
Calmar ratio0.319990.30144-5.80 %

Weighted: Downside Deviation and Independence factor

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