ForexBarometer.com Review

We have another complaint about FPA censorship from Rudolf, Indonesia who posted his review 5 days ago (June 8, 2010) and that was ignored.

Review Moderation Team Note Out review moderation terms clearly state 3-5 BUSINESS days. This is displayed every time a review is submitted. Rudolf's review was left on Tuesday. This complaint came in on Sunday.

We find it strange that FXB wouldn't even let us purchase a product, posts links to libel about the FPA, but also pays such close attention to our reviews.

We also find it strange that after all these months, no one from FXB has accepted our open invitation to discuss even a single issue via email.

I decided to buy Granite EA because of the following reasons:
1. Proven result by providing investor password on the website
2. The EA provide parameters that can be optimized. By this option, the EA can adapt better with the current market situation.

After testing on several demos accounts, finally I put Granite on Alpari US live account and it works very well.... It paid the EA price back already in a week... Great machine!

I am not an expert in MT4 but have several previous experiences with MT4 EA. So far, my questions are answered in detail and clear explanation. In my opinion, the support of Forexbarometer.com is a reasonable person.

I would like to rate five stars.

Hey guys,

Your reasons are ridiculous. By rejecting my review you are abusing me personally. I know you hate Forexbarometer but by ignoring people like me you make them hate you that spoils your website reputation.

Review Moderation Team Note: The rules apply equally to all websites in the reviews. Please note that there was no reason to leave this on the 24th and 26th. Reviews may take up to 5 business days to be processed. We are happy to see that the point or origin and country do match in this review, unlike the one you left on the 15th. There are no other issue with it, so it will be approved. Had you emailed us and asked, we could have taken care of this directly. Instead, ForexBarometer decided to post another review claiming we are somehow treating them unfairly.

Our offer to show ForexBarometer's products in the FPA's Performance Tests is still open. They remain the ONLY company to ever refuse to sell a product to us. If they are afraid that the FPA will somehow rig the results, we would be happy to use investor access to one of the accounts that they control directly.

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Wow, lots of discussion here. I'm a new ForexBarometer customer, and I've had a positive experience with the EA so far. I've had previous exposure to FX (from my prop trading job) and to MT4, so I never had a need to get tech support from the site, so I have no comments on that.

As far as the EA: now that ForexBarometer is selling systems again (it's a brand new one, based on Alder's TSD) I decided to try it out. I've seen the live statements for other things they've coded, and they look very impressive, so I decided to try out Granite before it was out of stock. I picked this system because it sticks to a few high-profit low-risk trades and has a proven track record.

I've had this running for a little over a month on a live MIG account, and it's up ~110% so far with a maximum equity drawdown of 10%, so I'm pretty thrilled - would definitely recommend this.

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Pros:

High, steady profits with low risk exposure. This is the most important factor to me in any system, and Granite delivers pretty well. If you're skeptical, you can check the investor passwords on the main ForexBarometer page. These are impossible to forge (unlike the screenshots of back-test statements everyone and their mother puts up - give me a break!). All in all, the P&L of this system (and the risk profile!) make me smile.

Plays well with NFA rules/ECN/5-digit brokers/MT4 backtester/news releases. Very few market conditions can affect its performance adversely.

Cons:

This software has a steep learning curve for first-time traders. I've been using MetaQuotes’ platforms and MQL since MT4 came out, so I'm pretty comfortable with using this EA. If you have used any MT4 software before, understand basic concepts of the FX market, and can follow directions, you're good to go. However, if you just discovered FX yesterday, this might not be for you.

Performance varies by broker - Alpari and MIG are the best, although most major ones I've tested with (IBFX, FXCM) are still very profitable.

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All in all, if you're knowledgeable about EAs and MQL (and are willing to spend a little bit of time on the manual), this is a very well-performing, risk-adverse, headache-free, PROFITABLE system. For me, it's a solid five stars, but YMMV.

We've received a note from our custom by name Clyde who several days ago have posted to your message board a review about our Granite trading system but it didn't appear in the FXB thread.

So, this is what you mean by professional approach to run business. You censor everything that is different from your biased
personal opinion and promote everything you have share of profit in.

FPA Review Moderation Team Note: The review by Clyde gave a country that did not match the point of origin. Good or bad reviews that lie about the location are automatically deleted. This is clearly covered in our FAQ here...

http://www.forexpeacearmy.com/forex-forum/basic-training/8023-answers-most-commonly-emailed-questions.html

Barometer claims they aren't selling anything, so they don't need to be tested. Their website has a whole bunch of new stuff for sale.

I guess they don't want anyone else testing those either.

Dear Sirs,

Thank you for posting our rebuttal. It seems your information about FXB is outdated.

1) We don't sell any trading software to general public and therefore are not interested in advertisement and/or attracting new customers. So, your offer has no any sense for us.
Read more: http://forexbarometer.com/store.asp

2) You are speaking about professionalism but publish an anonymous message from 'Daniel, Spain' that contains nothing but personal insult. The words 'he is kind of not too good on his head' or 'that guy is mad' has nothing to do with our software performance and may be a law suit subject and you are a defendant in the case.

3) The test results for different brokers both real and demo accounts are published on our main page http://forexbarometer.com/index.asp
Also, you may find there a server name, login and password for last week Basalt performance on IBFX mini-account,
so any manipulation with the data are impossible, though those facts also has no sense because WE DON'T SELL ANYTHING.

4) Our website doesn't host any visible to public reviews about FPA. There is abundance of those in the Internet on 'forexpeacearmy scam' keywords.
We are not responsible for Google engines that don't obey robots.txt and HTML standard directives and cache information that should not be accessible for them.

Best regards.

Review Moderation Team Note:

1. Your company is the only company ever to refuse a sale to the FPA. Many of our Peformance Tests are from companies that volunteer. The offer dates back to when you did have a product for sale. We wonder why you maintain a publicly accessible website since you aren't selling anything now.

2. Unhappy clients often get emotional. Reviews are a place for happy and unhappy clients to express themselves. Comments about the customer service behavior of a company are valid parts of a review.

3. Why keep showing your results, unless you plan to sell something else in the future?

4. We found a thread in your website which repeated libel about the FPA after you threatened to "expose" us.

Update: And then you went out of business. We're quite sure your EA would have been as much of a failure as the rest of the items you tried to sell on your website.

This message is a rebuttal of 'bearnakedbull, Canada' review. Author name is R. T.
1) In one of his e-mails he wrote us: 'So far I am impressed, looks like you have one of the very few robots that actually works, well done.' Thereafter he had trading problems and blamed ForexBarometer in his misfortune.
2) His account has been canceled when despite the Terms of Sale he initiated a PayPal dispute demanding a full refund. His request has been denied by PayPal and his complaint about on-line manual has nothing to do with his account cancellation reason.
3) Initially he has been offered to select a money-back guarantee option with trial period but his choice was a second option with full and immediate access to all FXB resources.
4) FXB products manuals do not exist as off-line documents for several reasons:
* They are updated frequently
* They are interactive, i.e.user may post question into the manual text and find an answer there
* Such info presentation makes piracy prevention a bit easier since only registered users have access to customers' forum area
5) This above mentioned customer tried to get a second license for free pretending he didn't activate a purchased software yet.
6) In the 'review' he 'forgot' to mention that after his account cancellation for Terms of Sale violation, he was provided with:
* latest version of the program he purchased but decided to get it for free
* activation key that never expires, though he purchased a one-month license only, so he could use the program in the future

Best regards.

Review Moderation Team Note: We observe that ForexBarometer is capable of replying to negative reviews in a coherent fashion. We also see that they can only reply to FPA inquiries with links to propaganda pages, blackmail, and libel.

Our offer to Forex Barometer remains open. Fx Barometer can even host the EA and give us read-only access to the MT4 account. That will remove any chance of tampering with the results - by either side. If the people at FXB are afraid to have results that they can't tamper with posted, our reviewers won't have any trouble guessing their true motives.

The "Contact Us" link is still waiting at the bottom of the page.

Wow Harsh. I've purchased several EA's from this site. Now I will admit the latest far out perform some of the earlier EA's, (i.e. NN Master and Leader were earlier), but I'm impressed by the MACD-X and Basalt. Several customers have been rubbed wrong because they don't read his agreement and are use to a different arrangement. The owner manages accounts with the same EA's with great results. The offering of FXB's EA's are just a complimentary services they makes his most money managing accounts. Their disclaimer states that you should be experinced in FX trading. I can't believe someone would herald broker specific FAPT an scoff at self optimizing profitable EA. They don't have an affiliate program and sometime close the selling of their products as not to create competition for themselves. I've never not made my money back but BASALT may be my last EA. This EA gives me the monthly return I expect. All in all I'm very satisfied because I understand that due deligence is expected on my part. It sucked at first because I expected a set and forget but when study forex from babypips.com and members at FXAW I know know when and how most effectively to use FXB EA's. Brokers reacted to the leader EA they used to sell much like they have for FAPT which is why i don't use that one anymore

I am a customer of ForexBarometer and use S26, MacdX and Basalt systems. I agree that the few first time that one enter the forums and try to cap the user manual - it is over helming. It take a bit of time to collect all the info and place it right to work for you. The Licensing is also unique and different. It is more extended then what common EA's have. But it is not more difficult to activate then what we do to activate Windows for example.

Regarding performance: S26, MacdX and Basalt are different systems.
S26 is a scalper with unique logic behind it. It is profitable when market goes sideways or small trending and need a low spread broker to be effective. It has unique Automatic optimization that adjust EA parameters (On request).
This is not a system for newbie's to Forex. I read the support issues of some of the customers and it is clear it is over-elaborate for their skill level. This system is for pros who want a powerful trading system, but it also requires to be set correctly.

Macdx is a full-swing trading system that can make great trades with remarkable pips gain per trade. It need to be optimized every two week or so to be more effective, but I used it for longer periods without optimization. Also if one don't understand to depth how to read the optimization results, it will make bad trades.

Basalt is a breakout system with unique algorithm to make it very effective. I am happy I have it. It's the best rose in the garden so far. Also, need to be optimized from time to time.

Overall .Although I know of the incident of denial of sell for ForexPeaceArmy, I can say that all my questions and queries were answered in timely manner, pinpointing the problem, and I am in control of all the systems I purchased. I think that they should have a better rating here. They sell systems that do require understanding of parameters, some MT4 operating experience, and those who understand they don't buy a simple system , will have fun and profits out of it.

My recommendation is : Buy only if you have know how in Forex systems and MT4. It is unique, challenging, interesting and profitable.

The user manual is scattered all over the forum in bits and pieces and so they don't send any documentation with it. When I started to complain to them they simply blocked my email and kicked me out of the forum even though I had paid for one month. Stay clear.