Due to this bot being so new, all ratings on or prior to 2009-08-13 have been set to "No rating". Reviewers who left reviews on August 13th or earlier are invited to leave followup reviews with ratings.
Website is down. Company apears to be out of business.
The latest news... After loosing $7,000+ in less than 5 hours in my Demo Account, I went back to the "www.IvyBot.com" web site, to see if there was an update to the software EA, or a Forum where someone may have commented on this fatal flaw. "Www.IvyBot.com" is still up and running, but now as a fake Search Web Site. Regardless of the word you enter in the Search box (try "Ford Focus"), you will get a listing of Forex web sites, no doubt, contracted links for profit. There is no "Members Page" now, as it returns you to the Search page. There is no Customer Service address, and no pointers to any "IvyBot" company. It would appear that they have pulled up stakes, and have run away. What we need is full prosecution of these individuals, and a judgement requiring full refunds to all victims at the Federal level. If you have better, or more recent information on this company, please post it here. This is a painful 12 January 2012 Update.
Same as everyone else I had V5.1 and its risk settings were deadly, I am one of the few who ended up profitable in the very short amount of time I used it live, but only because I monitored its every trade and most made no sense and I stopped them which with hindsight was pretty much always the right thing to do. It does nothing for days in any pair and then suddenly it will trade the European session with sky high risk in every trade and it does lose more trades than it wins. AVOID!
Oh dear what a bunch of losers, after over a year of running and their S*** EA is down 30% and they are still trying to flog it. Now so desperate they have a pathetic sales ploy pretending that only the next 27 customers get this C*** for a discount $149, yeh right come back in 6 months from now and guess what still 27 left MIND that wouldn't surprise me! GIVE it up guys your product DONT WORK!!!!
As all opinions here, Ivybot is really terrible!
IF it opens trades, the most will be losers. I lost about 60% (on demo) untill i decided to ask for the refund -> never saw any cent!
Absolutely Terrible Product. The only time you can have confidence that the program will not lose you money is when it's not trading. I wish I had asked for a refund within the refund period. I wanted to give the program a chance and not be too hasty in my decisions. It seem to open orders that seem to make no sense.
To top it off, I had an experience one night where I woke up to the product trading lot sizes 4-5x my maximum risk setting for size AND trading multiple orders of 4-5x maximum risk!! This IvyBot was able to wipe out 20% of that account in one night!! Lucky for me it was a very small test account I have just for such purposes (demo accounts and live accounts always seem to offer different results so I test live). All in all, avoid this waste of money.
IvyBot is a big scam! I put 5k and lost 25% in four days. I disabled the account otherwise the loss is quick and consistant.
I turned this robot off months ago. First of November started it up in demo account. Boy am I glad that I used a demo....Terrible, terrible robot. What happened to the room full of traders constantly watching this robot and adjusting it as per the original advertisement.
Buy IvyBot only if you hate money. It's amazing how fast it will throw money away. Once upon a time it did reasonably well, but with the release of the 5.1 version it's astoundingly horrible. I had to turn it off of my live account a couple of weeks ago, but I left it running on a demo account just to see if it would turn the account around. 4 weeks ago the account had 62,000 in it. It currently has about 25,000. Right now the account has 11 consecutive losses, just in the past two days. Maybe the authors will release a new version that will fix it, or maybe they won't. The only emails I get from them any more are attempts to get me to buy EA's from other vendors, and I assume they'll be making money off of the sale.
DO NOT BUY THIS ROBOT NOW. The newest version, 5.1, is completely backwards. I wish I had the ability to watch my computer and trade in the opposite direction, but I can't. To be fair, the prior version, 5.0, made 60% postive trades and 40% negative trades, but it did make me money. It averaged 7% returns each month over the last two months. BUT IT HAS LOST EVERYTHING PLUS MORE over the last 5 days!!!!!!
They have made a grave error in their codes with this latest update. DO NOT BUY THIS ROBOT UNTIL THEY COME OUT WITH THEIR NEXT VERSION, and then make sure you run it on a demo account for a full month.
With the lack of proper support from IVYBOT, I began researching other robots over the last month and have found much more profitable EAs to work with.
Again, DO NOT BUY IVYBOT version 5.1.......
The hype with this product is truely unbelievable!!
I installed the latest versiopn 5.1 over the weekend with the so called improved code. I have traded the Bot live today with the default settings and money management with an equity risk of 2% - the Bot has made 8 consecutive buy trades on EUR/USD - all were losers.
The free Auto Scalper Bot found in the Forex Peace Army site massively out performs this piece of junk.
Save your money - do not buy!! And do not risk your account!!
2009-09-30 2 stars I purchaced the bot at the release and so far I am dissapointed. I have tried default settings and scalper settings with no success. I have been advised to use the default settings by the support team.
The purpose of the parameters are not clearly explained as to what they are for and the trades made are infrequent. I think the sales pitch of the EA being consistently optimised should read like the EA is still being developed.
The EA seems to buy in the upper half of a trend channel and sell in the lower half of the trend channel according to their indicators which I paid extra for as a vip user. Surely it should be the other way around?? The lack of a stop loss or money management is a concern and the "built in" management seems a joke the system so far has closed all trades after a certain number of bars dependant on the pair - for example all trades in USD/JPY have closed after 11 bars so it appears a matter of luck where your price happens to be after 11 hours when the trade closes.
I look forward to the release of version 5.1 as it is too late for me to request a refund.
I would be grateful if anyone in this forum could shed some light on the meaning of the settings or post some settings which have shown a profit as I don't get the joke "able to turn $500 to over $3500 in 30 days"