GUILTY Case# 2015-167 | Sunny Chow vs mt5fxrobot.com

Based on the available evidence, do you believe that mt5fxrobot.com is guilty?

  • Guilty

    Votes: 60 100.0%
  • Not Guilty

    Votes: 0 0.0%

  • Total voters
    60
  • Poll closed .

Sunny Chow

Private
Messages
11
Original FPA Traders Court Submission:

I am submitting the case against: www.mt5fxrobot.com

My Case is: Dear All,
I had made a payment for Forex trading software in 13 May 2015. detail is below:
Price: USD2000.00
Product Name: MT5 FX ROBOT
Refund policy: 60 days money back if it doesn't work (Please open attached file)
their website: http://mt5fxrobot.com
Their EA must be encoded with your account and broker, then you can use their EA. the encode could be made 2 times. In First time encoded, my all real broker account and other demo was got loss, the drawdown was 55% and never be recovered. but only their Interbroker could win. So I try to use their IB to encode for trade, They spent one week to encode the account, then gave me an old version which was so different from previous one. The parameter is so different. the default Maxlotsize was 1000 lots, but previous version was just 20 lots. I am not dare to use it. I request them to refund USD2000.00

(As I want to tested their IB, I traded with IB manually, not EA, their IB could underquote 15-20 pips in EURUSD, Then I complainted to them, their IB said that is normal and market execution.)

When they received my requisition, they said thay it would move to payment department in 11 Jun 2015, but to now, I can not get the refund. In this period, I had sent so many email to push them. They just said as below:

<<< The Money Back Guarantee is for the Robot if it doesn't work.
However, we don't give refunds for the funds lost with the Robot. First you or we start with very small lot size, then increase it with higher balance. The Draw-Down is very low, so you don't need to worry.>>>

I replied to them is below:
" the deposit just is USD2000. Draw-down 55% is very big. also all loss can not be recovered. All accounts is loss too.
Is it a reasonable work ? Is it objective? Do you think all other people will agree your point ? "
After, they never gave me any feedback. They have no any integrity, no any apologies for the event.

Recently, I discover more information, Please open attached file. www.ForexFBI.com show the scamming EA software for reference. MT5 FX Robot is the same style of FX Genius Robot. It used 2 EA to combine in one EA to run(Master EA, slave EA), This technology is most exclusive in EA market.

FX Genius Robot was blacklist in USA in 2010, It was sold for USD2000 in Paypal. After, FX Genius Robot closed their homepage suddenly. Maybe so black. Paypal also have the policy of protecting consumer.
American thought that FX Genius Robot had rename to continue their scamming business.

My payment was processed by Skrill.com, I request Skrill.com to provide the arbitration with them in 10 July. but no any progress. They just said that it was under investigation.

New thread in the Scam Alerts Folder:

Review is submitted by MT5 FX Robot on 09/28/15

The company was first contacted about the issue on 06/05/15 the last contact was on 09/24/15

Details: The Money Back Guarantee is for the Robot if it doesn't work.
However, we don't give refunds for the funds lost with the Robot. First you or we start with very small lot size, then increase it with higher balance. The Draw-Down is very low, so you don't need to worry.

Company representatives' emails: Mark Hamilton <info@mt5fxrobot.com>

 

Attachments

  • SKRILL.png
    198.7 KB · Views: 5
  • scam.png
    132.6 KB · Views: 4
  • Recommended IB.png
    160.8 KB · Views: 3
The most obvious red flag it that none of those third party performance statements are live or clickable, they are just phony static images. No legitimate company with a winning EA would deprecate themselves with such a fictitious aprocraphal. And besides, one would have to ask themselves, if it was so profitable why sell it?

"How would you like to make over $110,000 in a few days?! It’s not that difficult, really." <<<<< so what, these perps are really so nice that they are willing to share this with you for a mere pittance? Oh yeah, let me guess the ole "life has been so good to us that we decided to "give back" to society... ??

I would contact your credit card company and dispute the charges immediately. Don't wait for the 60 days, because they try to will stall until it expires.
 
This guy's been around a long time and has a lot of sites. His live accounts are on very suspicious brokers. The others all appear to be demos.
 
Those guys maybe have many website to cover their Scam, maybe have so many user to promote their EA, They use strategies to run business, They could sell some Real EA to get the reputation or market share, on the other hand , they sell the fake to buyer. They show their EA like a genius, it could attract the buyer, When deliver EA to buyer, they can change the parameter. When buyer get the EA which only work in their IB.
 
The instances of MT5 FX scam or fraud appear quite significant. They have used different names over the years and invariably if the software works, losses or account wipe-out are generated. My software never got to working stage, but still no refund. Whatever twist you look at with different buyers, the result is still clear. They are a scam and a fraud. I can't believe an industry like FX is so rife with software and even broker scams. Huge Regulation overhaul is due.
 
Well, think about it. If they can guarantee that they will make you profits, then why share it with you when they can be making millions in their own?
A simple fact in this business that anyone who can guarantee making profits for you can't be for real, and is only looking to take your money away like what those people did.
 
The most obvious red flag it that none of those third party performance statements are live or clickable, they are just phony static images. No legitimate company with a winning EA would deprecate themselves with such a fictitious aprocraphal. And besides, one would have to ask themselves, if it was so profitable why sell it?

"How would you like to make over $110,000 in a few days?! It’s not that difficult, really." <<<<< so what, these perps are really so nice that they are willing to share this with you for a mere pittance? Oh yeah, let me guess the ole "life has been so good to us that we decided to "give back" to society... ??

I would contact your credit card company and dispute the charges immediately. Don't wait for the 60 days, because they try to will stall until it expires.


Hi, my payment method is Skrill.com. Not credit card. They have comsumer protection policy. Now the case is under investigation. but no any development.
 
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