ForexAutoMoney.com Review

Please guys, I just signed up! But this is scam! And on that site I did not manage to make a username.. only a password.. Please help me?? You are my only hope!

I was thinking in giving a try to this site. I got the feeling that before getting in something that I was not sure, Google it first and I found so many negative comments about it. Thanks God I didn't do it. Thanks everyone for the alert...

I have used the Forex Automoney signals for 5 months now. I have not had any luck with any streak of winnings that an person just starting out could do by looking at charts. I put my info into the trades at precise times and go red immediatly. I do better by doing oppisite of what the signal tells me...lol...I would not waste my time with Forex Automoney....the etoro platform is really easy to use, how ever use it as a demo account and learn from it and make your real trades with a trusted broker and platform.

This site is definitely a big no-no. -Scam.
I asked for a refund only 3 hours after I have joined, and this was how they replied:
All Terms Of Use are posted and are clearly visible before joining. By ordering our membership you agree with them, you accept them so now you can't stand on the point that you did not know. Well, of course you can, but it's not the reason for the refund. Terms Of Use are part of the Agreement between us and you where we point rules of the sell. You agreed with them when ordering the membership. Of course we have a money back guarantee and we give all the refunds only under it. No refunds are given for orders made by mistake or when customer did not know what exactly is he buying and what are the terms of the service. In other words we give refunds where you are unable to use the service because of our fault. But the fact that you do now know what are you buying and the fact that you are not reading the therms under which your order will be functioning is not our fault, then it's not the point of refund. Period.

Best Regards
Veronica / Forex Automoney

-Their terms and conditions states clearly that their system should not be used to trade with real money, and yet they claim you will make thousands of dollars. How convenient when it comes to refunds.

-When they explain the system before you join they talk about 40 pips in their explanation of how to use the site, -yet when you look at their intraday strategies no trade would give you more than 10 pips. Even an amateur trader can make 10 pips on a trade simply by trading the trend in the right direction.
Furthermore most of their stop losses is higher than their take profit margins, which we all know is negative risk management.

I truly believe this is a scam, developed by a scammer, and I don't even expect anyone of Forex Automoney to ever reply to this rating as they're too busy making money from the idiots like me who actually try out their "system".

Forexautomoney

I have cancelled my subscription. Here is the verbatim correspondence I had with their support people, very interesting. DONT SUBSCRIBE would be my advice!

Tracking ID: VBX8D645U7
Ticket status: Resolved
Created on: 2010-05-12 13:18:08
Last update: 2010-05-16 03:50:00
Last replier: Staff
Category: Member Question
Replies: 7
Priority: Medium
Printer friendly version

Date: 2010-05-12 13:18:08
Name: Michael
E-mail: idob@any-mail.co.uk
IP: 64.186.135.153
Username: ioberski

Message:


Hi, I have now used the signals for just over a couple of weeks. I am hugely unimpressed though. I use the

interday signals, 18:00 hours at first, then changed to 08:00 hours. From 3 May my daily P/L are as follows

(before that I may not have been doing it correctly):
3 May -188 pips
4 May -36 pips
5 May +1 pip
6 May +63 pip
10 May -109 pips
11 May +71 pips
12 May -108 pips

I am following instructions exactly, all trades placed within about 5 mins of the signal time. All using just the

one daily strategy.

I shall try until end of next week. If still running a loss, I shall ask for a refund under your Refund policy.

Please let me know if you have any advice in the meantime.

Best wishes,

Michael


Date: 2010-05-13 04:10:35
Name: Forex Automoney Support

Message:

I'm sure you did something wrong, let's check it:

THE MOST COMMON MISTAKE is using more than one strategy, however there are several more points we should check:

1.) Make sure you have the correct time zone set in Account Preferences.

2.) Make sure you are entering trades EXACTLY when signals are generated (or nearby this time - but not i.e. 20

minutes later or 1 hour later)

3.) Make sure you're setting correct "get profit" and "stop loss" values.
If you BUY:
Lower bound is the (Quote)-(Stop Loss level)
Upper bound is the (Quote)+(Take Profit level)

If you SELL:
Lower bound is the (Quote)-(Take Profit level)
Upper bound is the (Quote)+(Stop Loss level)

The interpretation is pretty easy:
If the price exceeds bounds the trade will stop.
If you "buy" and price go down, means things go wrong way, so you should have "lower limit" (quote-stop loss),

but if it's good and price goes up you can take profit by going up the higher bound (quote+take profit).

When you sell - the situation is opposite - it's good when price goes down and it's bad if price goes up.

4.) Make sure you do not MIX the strategies - if you're trading daily, you do not look at weekly and daily ones

in the same trades.

DO NOT USE MORE THAN ONE STRATEGY with one brokerage account.

Simple example:

1. In the Daily strategy you BUY 10 units of EUR/USD at 8:00AM

2. Then you read the Intraday Strategy at 10:00AM which tells you to SELL EUR/USD. You decide to sell 10 units of

EUR/USD.

but then, in fact you closed the previous position!

You had 10 items and you just sold them.

So you mixed strategies.

So either use ONLY ONE STRATEGY or open 3 separate accounts - each one for one strategy.

5.) Make sure you quit trades properly.
You should close the strategies either when "stop loss" or "take profit" levels are reached or if the next signal

is generated and it has the opposite direction. If it's the same type of order - you should keep the position

opened and trigger your "stop loss" and "take profit" to newly generated values.

Please also note, that not 100% of signals are winning ones - it's a long term strategy, not "every time I win"

magic box.

To master your strategy you can also compare signals with predictions made by human experts - that's why we have

a "Market News" section.

Make also sure, that you read:

"How can I be sure I'm trading correctly?"
"What are the most common trading mistakes?"
"Signals are wrong! Currencies go opposite direction!"

questions on Members Support page (section "Signals and Strategies").

It WILL help, because signals REALLY WORK and we have thousands members making money on them every day!

Best Regards
Peter / Forex Automoney


Date: 2010-05-13 14:53:20
Name: Michael

Message:

Thanks for the cut/paste job, have read all this and as far as I can see am doing exactly this. Today's two

positions closed out giving a total loss of 48 points. You say there are thousands of members for whom this

works, so obviously I am missing something. But you do not have a bulletin board where members can share

information. Can you put me in touch with one or two successful members who might be willing to show me how

they're making profits?

Date: 2010-05-14 06:05:20
Name: Forex Automoney Support

Message:

you have miss something that is very important have you read "The law of chart" in forex basic
POINTS OF CLARIFICATION FOR 1-2-3 FORMATIONS
"When do you buy and when do you sell?"
I hope you trading will Improve after doing it.

If this instruction have fail to help you, you can try to sign up for one to one phone Coaching.

Best Regards
John Maximus/ Forex Automoney


Date: 2010-05-14 14:52:27
Name: Michael

Message:

Ah OK now I get it, I have to analyse the charts to make a profit? I thought I could just rely on the signals

page, although it does clearly state there that using it with real money will likely result in incurring losses.

Thankfully I have only used the demo account so far.

No seriously, can I make money using JUST the signals page, OR do I have to get seriously involved in studying

the charts and making my own decisions?

Thanks,

Michael

Date: 2010-05-15 07:54:59
Name: Forex Automoney Support

Message:

you do not need to study any chart all you have to do is enter your trade at the time you have set to receive the

signal. these are only for educational propose.

Please read the Manual in the Members Area. Especially please read "Using Signals" Chapter.

I'm sure you already did it, however I'm writing it to let you know everything is described there. The method is

simple: buying or selling currency pairs at a given times with setting stop loss and take profit levels. If those

levels are not reached - you must quit the trade with the next signal and then enter the new one.

If you are sure you are doing everything correctly, I can't help you anymore - I can't explain why most of your

trades are losing ones - most of them (of course not all of them) should be winning ones.

Best Regards
John Maximus/ Forex Automoney


Date: 2010-05-15 12:40:30
Name: Michael

Message:

Thanks for your honest reply. I am doing things exactly as instructed. And still most of the trades lose. I think

it is simply cause the system does not work. If you Google forexautomoney review you'll soon find that I am not

the only one not making money.

On the basis that ths simply does not work, I am going to cancel my membership.

Please, according to you refund policy, please refund my months' subscription as well.

Thanks for your help and best wishes,

Michael

Date: 2010-05-16 03:50:00
Name: Forex Automoney Support

Message:

The refund policy is not basing on the fact if you made money or not. Additionally it's against our license (see

Terms of Use) to use our signals with real trading where real money is involved. There's always a risk of loses

and you accepted it when joining us. Please look at Legal Disclaimer

(http://www.forexautomoney.com/legal_disclaimer.php)

Best Regards
John Maximus/ Forex Automoney

Cancellation Code 6HZ1H2QEWR

These people should be exposed for what they are: SCAM artists.
I have asked them to cancel five times and they keep sending me on an endless circle of deception. "Go to terms of Use" when you go there it tells you to go to support to cancel, when you go back there they tell you they do not deal with that, and so on and so on!
Someone should be reporting them to the relevant authorities. They have no address or contact number and do not respond save via their support people who are useless and avoid the issue of refunds or cancellation.
BE WARNED!

I agree with Juan and one or two of the others. I also spoke with Ariel and she just kept telling me to buy it and it will work. She never would give any details.
I told her the 3 day trial period was no good because I have to set up a Broker and get them money first. She said it is easy and I can be trading right away. What a pile of poop. I said you will charge me over $100 before I can even test it. She said I can trade now.
Sorry but this just does not sound right. She just kept inviting me to sign up. She finally hung up on me. Then I came here and read some of the other comments. WOW! Count me out of this one especially after what Juan comments here. I think it is a scam.

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!

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!

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.