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I don't have any experience using the automatic trading signals service from Forex AutoMoney. If you have used these signals to trade forex, please leave a review.
T, USA
Rating:
No Rating
Date of Post:
2010-03-09
Review:
I wish that I had found this site prior to signing up for forex automoney. I'm just waiting for my 1st month to be over with, I am going to make sure to cancel 3 or 4 days before hand so I don;t get caught up in that awful 24 hour cancelation policy that they have. I signed up for the trial membership, saw no positive returns and tried to cancel only to realize they require 24 notice to process. They suck!
Aldo Arnal, Vietnam
Rating:
Date of Post:
2010-03-01
Review:
I used it for several weeks as acurately as described and indicated. However I lost quite some money following their signals. When I stopped to follow them, I started to make money.
This service is definitely not worth the money!
Juan, Atlanta
Rating:
Date of Post:
2010-02-22
Review:
I saw the site and read the into and the pricing sounded good. But there we're three things that stood out as this being a SCAM.
FIRST RED FLAG:
Was chatting with a lady named Ariel .... doing my due dilligence I asked her did that have a phone number for contact purposes. Any reputable broker will, they FOREX AUTOMONEY did not have a phone number.
SECOND RED FLAG:
I asked here what was the companies address first the told me they we're located in UK, London, but I asked her for a physical address .... she said for security purposes she could not give me that information.
THIRD RED FLAG:
She constantly kept pushing the membership without explaining everything in a thorough manner.
Needless to say .... in my humble opinion this is a FLAT OUT SCAM .... I would not piss on them to put them out if they we're on fire. Consumers keep you money in your pockets. There are plenty of other brokers out there they you can sign up with for FREE and have UNLIMITED DEMO TRADING accounts with them. Do not waste or GIVE AWAY your hard earned money to FOREX AUTOMONEY.
Micky, Montreal Canada
Rating:
Date of Post:
2010-02-04
Review:
This is a load of crap. I tried the 3 day trial period , and on my 2 and a half day i wanted to cancel but they said you have to cancel the trial period 24h before the ending of your trial membership. So basicly its not a 3 day trial its a 2 day trial , on your 3rd day you get billed 100$ to your credit card as if you have agreed to thr one month period. Later i said ok , now i'm forced to tried it right , i read all the pages from A to Z , and at first it isnt that easy if you dont know what forex is , it took me 2-3 days to realy understand forex and how it works , the parabols and evrything. So i tried it with a 150$ account and yes i won few times but lost more. You will never make the amount of money they are telling you. At the end it cost me 255$ with the account and 1 month membership , i lost it all but i did learn what forex is . It is like the STOCK market .
Max, Australia
Rating:
Date of Post:
2010-02-04
Review:
I was attracted by their claims and daily emails stating you could earn quite amount of money. But I am a careful person with money and I needed more confirmation from them. After a chart with the online service, I felt like it's trap coz it is easy entry but no easy way out, as those tight limitations of the membership charges. It came very suspicious as they didn't explain all of my questions while keep pushing a special rate offer. At the end I asked the guy what's his local time. He answered me it was 10:05pm. I checked with the time zone and eventually located the place is in nowhere of the Atlantic ocean! After reading reviews from you guys, I am confidently sure it's a scam. Thank you guys and I will warn everyone who intends to join.
So I just signed up a couple days ago with a special 50% off for one month deal. I figured, hey... $50 bucks, not too bad right??
I think I did the first few trades wrong. You've got to make sure when you "refresh" the page to get the latest signal from Weekly, Daily or Intradaily, that you click on THEIR provided link to refresh the page or you'll get old signals.
I'm also using eToro as my broker... I'm not so sure I'm completely satisfied with them though. They are actually part of the reason I'm not doing as good as I could be.
For NUMEROUS times, I've tried to either close a trade, set a stop loss or a take profit and it would either freeze up on me, give me a pop up that says, "Sorry for the inconvenience but we are unable to complete your order. Please contact our support team at support@etorousa.com." Which is a VERY frustrating thing to see when you're trusting a company with your own money!! As you can imagine, if you can't close a trade quickly, you're very likely to lose money.
So as far as brokers, be cautious with eToro... they seem glitchy. One time, they even processed a trade without my permission (This happened when it froze up on me), resulting in some substantial losses.
So with those factored mistakes in mind, so far I've had about a 70% success rate... which is funny because I just got off the chat with one of the people from Forex Automoney and I asked them, "Are your signals 100% accurate?" and "Steven" replied, "No, they have a 70% success rate."
So, with that in mind, what they offer is true to their word. And just as the disclaimer says, it's not guaranteed that you become rich or succeed at it. You must learn how to do it first, and just try one or two trades at a time. But I guess technically speaking, it really is "Click... $500. Click... $1000." But it'll be a while before you reach that point, unless you deposit like $10k into your broker account.
I started out with $117.00 and I'm trading very LOW amounts of money to avoid too much risk. After my next two signals finish, I'll have $121.00, and I know they will be successful because they're WAY high in the greens.
Hope this helps!!! Just for added credibility, I will NOT add an affiliate link!! This is purely for review purposes only. God bless.
Review Moderation Team Note: 4 star rating removed. A couple of days and $4 isn't quite enough to justify a rating. Please leave a followup review in a few weeks.
Tony B, USA
Rating:
Date of Post:
2010-01-13
Review:
This is an additional post from one previous. After making over 30 trades using FX Automoney's daily and weekly signals, I ended up under 5% from where I started. I have since cancelled my subscription since I have never met any of their claims to $1000's one could make daily. This is a really bad service, and their customer service responds fairly quickly, however most of my questions were answered in a canned manner.
2009-12-24 2 Stars I have been using FXAutomoney for two weeks now. I am in a profit, but expected to be making much more than 15% weekly. I trade their daily and weekly strategies on a mini account. I have not made the money which they claim to be able to make on a daily basis, as i trade 11 different curriencies. Also, it's not as easy as they claim, that anyone with no FX trading experience can be making money within minutes, the person needs to have a little experience. I give them a low rating for not meeting their money making claims
Emubenjere Gabriel, Nigeria
Rating:
No Rating
Date of Post:
2010-01-09
Review:
l am a trader ,who is interested in forexautomoney.com,but l could not pay through clickbank the reason is that my country is not allowed to subscribe ,though the site owner (forexautomoney.com)sellected nigeria as those countries to buy their product.Now ,l am in a fix, l dont know what to do please profer a solution for me.
Review Moderation Team Note: Did you read the reviews for this product? ;)
Art, USA
Rating:
No Rating
Date of Post:
2009-12-08
Review:
I thought to check this program out by asking to contact one of their "testimonial" people, since I searched and couldn't find any of those names online.
Here's a transcrip of my live chat with them, which verified to me it's a SCAM:
General Info
Chat start time Dec 8, 2009 1:04:22 PM EST
Chat end time Dec 8, 2009 1:23:21 PM EST
Duration (actual chatting time) 00:18:58
Operator Patricia
Chat Transcript
info: Please wait for a site operator to respond. In the meantime, please click here to get your membership.
info: All operators are currently assisting others. Thanks for your patience. An operator will be with you shortly. We are sorry you're waiting so long for our operator. To compensate it, we'd like to give you a special 50% discount! Please click here to apply.
info: You are now chatting with 'Patricia'
Patricia: Hello! Welcome to Forex Automoney. Are you an existing member or thinking about signing up for a membership?
you: Thinking about it. Can I contact one or more of the people who give testimonials on your site? I would like to verify authenticity.
you: hello?
you: Patricia?
Patricia: Please wait.
Patricia: Hi, thank you for your patience.
you: yes, I'm still here.
Patricia: Thank you.
Patricia: I am sorry, we can't provide you any contact details.
you: so there is no way to verify if they are real? I live in Detroit, and I can't find the Detroit guy giving the testimony.
Patricia: Click here to sign up now For $4.95 you will get a 3-days trial membership. After 3 calendar days, the membership cost is $99.90/month.
you: so for almost $1,200 per year, I can't get any references?
you: and since I would have to cancel 24 hours before my trial membership expires, doesn't that mean I would only have 2 days to try it before being committed to the $99.90?
Patricia: Yes, this is right, but inspite of that you will get 3 days of trial.
you: but no opportunity to check any real references - that makes me scared to risk my money and skeptical.
Patricia: We have no exact performance reports. That's because our system can be used 24 hours per day in all time zones with 18 currency pairs - it's not possible to show all possible results. Only 1 day of trading has over 50,000 possible transactions (number of time zones x 24 hours x 3 strategies x 18 currency pairs) and the real performance can be shown on at least one year period. It's just impossible to show such reports for all possible variants.
Patricia: That's why we give averages.
Patricia: An average win/loss ratio is 70:30 for each strategy (70% winning, 30% losing).
Patricia: Averagely (last year stats), loses are 65% of win trades value. For example if average winning trade is 100 pips, an average losing trade is 65 pips.
Risk Warning. Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all
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The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you
should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign
exchange trading, and seek advice from an independent financial advisor if you have any doubts.
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Spam Notice. To secure your privacy FPA mailing list is maintained and all emails to FPA members are sent through AWeber Communications, Inc. with world stringent Zero Spam Tolerance policy. One click unsubscribe option is included in every email.