Description

Lizard EA MT5 Review – My Honest Explanation

The Lizard EA by Marco Scherer is a fully automated Expert Advisor built exclusively for XAUUSD on MetaTrader 5. I tested it on the H1 timeframe with default settings and a $10,000 demo balance on VTMarkets Standart. It trades gold only, uses pending stop orders around swing structure, and does not use martingale, grid, or averaging. The minimum deposit is $250, and it works best on ECN or RAW accounts with low spreads and a VPS.

Vendor – MQL5 | More Update & Free EA – Telegram Channel

Lizard EA MT5 Live Result

1. The Lizard EA MT5 MQL5 Live Signal | Check Live

Growth: +79% | Maximum Drawdown: 18.3% | Profit: $198.64 | Initial Deposit: $250.00

I tracked the official live signal on MQL5 Signals. The signal shows a 79.46% gain since May 2026 on a $250 initial deposit, with a maximum drawdown of 18.3% and a 79.52% win rate across 127 trades. The account is only about 13 weeks old, so the track record is short. The drawdown is noticeably higher than the backtest figure, which is worth understanding before you buy.

The signal is publicly disclosed and independently hosted by MQL5, so it is not a self-reported number. Still, a short live history means you should treat the results as early evidence, not proof of long-term durability.

Backtest Results

The developer provides a backtest covering January 2025 to the end of May 2026 on a $10,000 starting balance. The test used default settings on VTMarkets Standart. It produced $11,999.56 net profit, a profit factor of 3.56, and a maximum relative drawdown of 5.29%. Total trades were 879, with a 85.32% win rate on profit trades. The backtest was run on XAUUSD, and it shows the strategy works well in a trending gold environment. Keep in mind this is a single 17-month period, not a multi-year test across different market regimes.

Key Features

• Multi-Strategy Architecture – Six independent strategies run in parallel, each with its own stop loss, take profit, trailing logic, and risk weighting.

• No Martingale or Grid – The EA does not use recovery grids, averaging, or martingale position sizing.

• Swing Breakout Logic – It scans for swing highs and lows and places pending stop orders at calculated breakout points.

• Defined Risk Per Trade – Every trade has a hard stop loss and take profit set from the moment it opens.

• Prop Firm Drawdown Input – Includes a daily drawdown limit control designed for proprietary trading challenges.

• Time Filter – Blocks hours with historically weaker profitability to reduce exposure to low-quality sessions.

• NFP Filter – Avoids trading around Non-Farm Payroll releases to reduce news-driven volatility risk.

• Market Close Protection – Automatically manages open positions before market close to reduce overnight gap risk.

• ECN / RAW Optimized – Designed for tight-spread accounts with low latency and minimal slippage.

• MT5 Compatible – Runs on MetaTrader 5 and supports hedging accounts.

Pros / Cons

The Lizard EA MT5 Pros:

• Genuine no-grid, no-martingale architecture

• Every trade has a defined stop loss and take profit

• Live signal is publicly disclosed on MQL5

• Prop firm drawdown control built in

• Backtest shows strong profit factor and low relative drawdown

The Lizard EA MT5 Cons:

• Live track record is only about 13 weeks old

• Live drawdown is higher than backtest drawdown

• No independent third-party reviews outside MQL5 yet

• Backtest covers only one gold market environment

• Premium price point compared to many gold EAs

Who Can Use This

This EA suits traders who already understand automated trading and want a disciplined XAUUSD breakout system without recovery-grid risk. It is not for beginners who expect guaranteed returns or who want a set-and-forget robot. You need a broker with tight gold spreads, low latency, and a VPS for reliable execution. The minimum deposit is $250, but a larger balance gives you more room to absorb the live drawdown. If you are patient and comfortable with a short live history, it is worth studying.

• Traders with at least $250 to allocate to a single EA

• Users who already run MetaTrader 5 and know how to install an EA

• Traders on ECN or RAW accounts with low gold spreads

• Traders who want defined risk on every trade

• Traders willing to monitor a young live signal rather than assume past results will repeat

How to Install Lizard EA

1. Buy and download the EA from the MQL5 Market.

2. Open MetaTrader 5 and go to File > Open Data Folder.

3. Paste the EA file into the MQL5 > Experts folder.

4. Restart MT5 and drag Lizard onto an XAUUSD H1 chart.

5. Enable AutoTrading and confirm the default settings or load your own preset.

Setup & Support – Steven A (Owner Of 99vipea.com)

Risk Disclaimer

Trading forex and CFDs carries a high level of risk and can result in the loss of all your capital. Past performance, including backtest and live signal results, is not a guarantee of future results. Expert Advisors are tools, not guaranteed profit machines. Only trade with money you can afford to lose, and always test on a demo account first.

Final Verdict

Lizard EA is a serious, well-structured XAUUSD breakout system from a developer with a real track record. It does what it says: no grid, no martingale, defined risk on every trade. The backtest looks strong, and the live signal is disclosed, which is more than many gold EAs offer. The honest caveats are the short live history and the higher live drawdown. It is not a guaranteed money machine, and it is not cheap. But if you want a disciplined gold EA with transparent rules and you are willing to test it properly, Lizard is worth a close look. Start with a demo, then scale slowly.

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Reviewed By – Steven A