We haven't tried the EA from ForexBoomerang.com. If you have let this software trade forex for you, please leave a review.
Update: The FPA is now running a Performance Test of this EA on a demo account.
Update: The Performance Test of this EA was stopped. The demo account lost so much money that it was unable to keep trading. Please click the link towards the upper-left to see the results.
Norman, Las Vegas, NV
Rating:
No Rating
Date of Post:
2010-05-06
Review:
I purchased the program on April 6th and couldn't download the program, I try to reached Forexboomerang but there is no phone number listed, (or I didn't find it) then tried to send email that didn't work. After I read Jim's message (2010-02/02) I wrote to clickbank (was paid thru clickbank) but didn't get any reply either, I don't know if this Forexboomerang program really works since I couldn't download the program and give a try, I just want to cancel it and get my money back, is there a better way to contact them to get this problem taken care of, any suggest are very much appreciated,
Review Moderation Team Note: If you are within 60 days of purchase, we recommend trying to contact ClickBank again.
Jim, Los Angeles
Rating:
Date of Post:
2010-02-06
Review:
I purchased ForexBoomerang in February 2009 for $99 using a credit card and promptly received a refund in March 2009 with no problems. Here is a review back then, JJ rating 1 of 5 Stars: I backtested [ForexBoomerang] using Metatrader limited data $500 EURUSD H1 per instructions, and like a boomerang it went to $1,700 or 240% and came back with $130 or 70% loss. Five important considerations for any system: back-tested, live traded, money management, low draw-down, and truthful claims. The absolute worst, They apparently sold my name and phone to an affiliate coaching firm. It seems to have an okay algorithm but also seems to lack built-in money management.
chuck, St Paul, MN
Rating:
Date of Post:
2009-09-25
Review:
Much like Josh I found Forex Boomerang to be bad for my cash. Fortunately I only ran it on a demo account. At best it kept even with losses and wins, then it started down. I reinitialized with the best parameters in back testing and it stil kept losing.
NOTE: it won't profit at all further back than 3 months.
I communicated with them and they basically said to keep on keepin' on. Now they said they're redoing the software. To me that's a telltale of an over optimized system that is currently failing. (I should know, I've developed several of my own like that)
I got my money back via Click-Bank (thank you Click-Bank). I have since set up Forex Profit Monster and Forex Day Monster. I'll let you know how that goes.
Ingvar Engelbrecht, Sweden
Rating:
No Rating
Date of Post:
2009-07-28
Review:
I have been running this EA 24/7 since June 16 trading half position EURUSD on Alpari UK demo.
20 trades, current profit is $2115 with an open position for -137. Take profit is $450, stoploss $550 (90/110 pips). Not bad
Review Moderation Team Note: The rating was removed. Please leave a followup with a rating after trading live for a few weeks.
Robert Hoogstraat, Netherlands
Rating:
No Rating
Date of Post:
2009-07-01
Review:
Last year I bought this previous version of their EA and made lots of losses,developer called me for giving manual trading lessons so asked my money back and never got it, At that time I was not aware of clickbank . They also promised one year of update and I see that they have an update but I have not received it and can not reach them about it, no support or e-mail address.
Well, I am confused. I have been running Bomerang on live demo since 25 May. 5 profitable trades, 1 loss. I was using Alpari UK. Yet for this same period, FPA's demo does not show the same result. They have 1 (or was it 2) less trades - the winning trades.
My trades show a very good return in one week but this is not replicated by the FPA's demo tests.
Also did a back test from 1st Jan - till end of May. Started off with £1000. Ended up with just under £1000!
Aren't there any good EA's out there at all?
Review Moderation Team Note: Our copy of Boomerang is running on Alpari-US. There are at least occasional differences between the price feeds for Apari-US and Alpari-UK that could cause some differences in the trades.
Brian Penberthy, Canada
Rating:
Date of Post:
2009-04-12
Review:
Hi,
I've had this EA for about 3 months, and it is a consistent loser. I tried to get my money back, but the emails are silent. I received a phone call asking me if I'm serious about making money from Stellar Forex. Beware they will not refund you, simply try to sell some training starting at 10K USD. I was stupid and only took a preliminary course at 2.5K USD. This was a very beginner course, which I told them I wasn't and I followed their rules and lost another 10K, for which they take no responsibilities.
BEWARE of FOREX BOOMERANG and STELLAR FOREX!
Josh, Sydney
Rating:
Date of Post:
2009-04-10
Review:
I tested this, and then did a visualised back test. I found that it makes profits about 30% of the time (not 70%) as advertised, it does not hide the stop losses so brokers who hedge can see where they can make money out of you, and each profit is only a little bigger than each loss.
Overall I gave it a rank of just above terrible, I would not recommend buying this piece of software junk to anyone.
Jason , Australia
Rating:
Date of Post:
2009-03-20
Review:
It does not do what they say, in my tests, it just keeps losing and losing with the odd win, it is terrible, so i got my money back which i am happy about that!
Risk Warning. Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all
investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in
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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
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Disclaimer and Risk Warning. Please read.
Risk Warning. Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. 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.
Disclaimer All information posted on this website is of our opinion and the opinion of our visitors, and may not reflect the truth. Please use your own good judgment and seek advice from a qualified consultant, before believing and accepting any information posted on this website. We also reserve the right to remove, edit, move or close any post for any reason.
Advertisements Warning Advertisement links are displayed throughout the site. Some pages in the site may contain affiliate links for products. These advertisements and/or links do not reflect the opinion, endorsement, or concurrence of this website or affiliated parties. The FPA's reviews are never influenced by advertising. Some ads might contain potentially misleading and/or unbalanced claims and information that may fail to disclose risks and other important considerations involved in speculative trading.
Spammers be Warned If you spam the FPA's forums or reviews, we reserve the right to edit your post in any way we please to make fun of you. By spamming us, you agree to any edits we make and to take no legal or other actions against the FPA or its associates for anything we do to or with your spam.