We the members of the Scam Investigations Committee of the Forex Peace Army have deliberated on all the evidence available to us and would like your input in the case of Woodcrusher vs. TradeOracle. Woodcrusher's claims are very serious. A Confirmed Scam case is also very serious.
Woodcrusher spent 4500 euros on the TradeOracle software for MT4. He says it didn't work, and that the owner of TradeOracle refuses to give a refund and has become quite hostile when asked, even threatening to stop supporting the product.
TradeOracle's website does not offer a money back guarantee.
Woodcrusher has asked for an official scam finding under our scam definitions, specifically...
Serious deception in the company's advertising.
Since this case comes down to competing claims, we are putting it to a vote of our membership. Please read all the evidence, all the comments, ask any questions you may have, then vote.
Here is what each side has said so far...
Woodcrusher says that TradeOracle's advertising is deceptive. That it repaints indicators, thus showing great trade entries only after the fact.
TradeOracle says that Woodcrusher did not follow the instructions and was using the 1 hour timeframe. TradeOracle says the product should be used on longer timeframes.
Woodcrusher says that he tried the product on longer timeframes and still got bad results. Further, Woodcrusher says that the manual provided with the software does recommend a 1 hour timeframe.
TradeOracle says that Woodcrusher did not use all the indicators.
Woodcrusher says that he did use all the indicators when using the software to trade, but turned off the other indicators to highlight serious problems with the trigger indicator arrows in the screenshots he sent to TradeOracle.
TradeOracle accuses Woodcrusher of hacking their website, but has provided no evidence.
Woodcrusher says that he did look around the website for the TradeOracle phone number and could not find it. Further, he says when he did contact Tradeoracle about the missing contact phone number, he was told the website had been hacked, somehow removing the number.
TradeOracle says that Woodcrusher continued to use the software after he said he was no longer using it. This is based on hearing a sound in the background during a phone conversation.
Woodcrusher says that he had a different indicator set running on his MT4 platform, and that it was this other indicator that made the sound.
TradeOracle says that Woodcrusher is trying to scam him out of a free copy of the software.
Woodcrusher has offered to provide a letter countersigned by his attorney stating that all copies of the software and any related files will be destroyed if a refund is offered.
Tradeoracle refuses to consider a refund.
Our investigator who handled this case, Lt. Gerard, would like the following information to be included...
TradeOracle took quite some time to respond to emails. It often took several emails to get any response. The reasons given were a lengthy vacation and being busy dealing with customers. Woodcrusher has never taken more than a couple of days to reply to any questions in the investigation. Lt. Gerard feels that TradeOracle's delays in response border on deliberately stalling our Scam Resolution process.
TradeOracle made extremely aggressive forum postings and replies on the TradeOracle review page. The most recent review had to be edited by the review moderation team to bring it's content down to an acceptable level.
Unless TradeOracle comes with its own custom sounds, Woodcrusher's claim that the owner of TradeOracle heard a different indicator signal is very believable. Also, unless a refund is given, WoodCrusher has every right to continue to test the product to see if it can be made to work.
Woodcrusher's original complaint and some of TradeOracle's responses are here....
Tradeoracle.ch
This poll will remain open for 2 weeks.