ForexBulletProof.com Review

It worked great for a while, but now it stopped working. Not trades at all. Only limit orders like 1,000 pips below market. Zero support. Infact, their support page needs something from zend optimizer to handle their PHP and it has not been installed. They are officially out of business with support this product. If you buy this product, prepare to lose your money.
I left them a message that said I cannot then buy zcodesystem or the commoditycode because of the piss poor support with this.

Very sad because these guys seem smart and capable. Just support the frickin thing and you will sell more stuff. Because of this, I will never buy another product from these guys ----Steve or Alex ever again.
very very disapointed. It is hard enough to risk my money in the frickin market, but when I have to get bad support from these guys, it truly sucks

I had been successfully trading Bullet Proof for many months. I had traded only the EURUSD so I missed the massive crash of the Yen. Since that time, it seems like support for the product has completely dried up and blown away! Not uncommon for EAs, but the website is still up and they are offering the product.

To the FPA:
In multiple places on the FPA site, the comment is made that Bullet Proof was created by FAP Turbo. I am curious where this information came from. I received this comment from FAP Turbo:

Forex Bullet Proof is not and never was the product of Fapturbo.

With zero support, I cannot recommend the product.

This robot is profitable and stable. but .. it's also very sensitive to many factors ( spreads, broker, account size, leverage ) , and because of the semi-martingale system sometimes it could be VERY risky. ( it's NOT a pure martingale robot ) the sales page is not honest at all. actually, the product is the exact opposite of what's advertised.

Stoploss is 500 pips while the profit per trade is only 7 pips. but that's not the risky part, the risky part is that the robot would risk ALL your capital with Huge lot sizes to recover from losing trades. translation = you could lose all your account regardless of the stoploss!! the stoploss in this case would be totally useless.

Support is full of B.S they would say anything and do anything to keep you from refunding.

The upsells are a joke except of the high voltage version. the high voltage aggressive and the manual system are absolutely worthless. you can find a lot better for free!!!! .. with the high voltage aggressive you WILL lose all your capital within few days. and the manual system looks like it was designed by a 5 years old kid.

if you are ok with the main robot, then you will love the high voltage version ( not the high voltage aggressive ) . actually, you would need it because it trades a lot better than the main robot with the same risk - not higher risk like you would think.

for me, I'm not going to ask for a refund, I will keep it and maybe - just maybe - use it on a small live account .. but I wouldn't recommend it to anyone.

one last thing, the robot works on 1M chart .. so forget about backtests .. they would be useless with it. demo trade it if you want to test it. just remember to trade with ECN brokers only and choose 1:400 leverage for your account.

I was very hopeful about this EA. I have setup the FxBulletProof minilots v1.01 on ATC Brokers demo account. The broker with the tightest spreads on ECN/STP platform.

What I found that the EA is net looser on USDJPY pair, the martingale trade when it closes all the trades, the net result is LOSS.

http://www.4shared.com/document/PXP3ppVR/BulletProof_USDJPY_ATCBrokers.html

I have uploaded the trading statement on the 4xshared drive. Kindly note the trades taken on 14th April 2001 on USDJPY pair. Although the 9.60lot trade got repeated yet the net it booked the loss when all the open positions were closed. I am wondering in the even that the larger lot trade does not get repeat, the loss would have been even higher.

There is something major flaw in the algorithm atlest it is not working for USDJPY pair. The developer has to take a note of this & come out with the upgraded version.

Further, the Demo test on FPA is taking any trades, can the moderators take a note of this and make sure the Demo test is done correctly.

Regards.

Just and update and response to last post. I have now been trading forex bulletproof since launch date on a real money account. It keeps perfoming wonderfully and has not had a losing week yet. Keep in mind, there are losing trades, but the aggregate value is always positive. Some things to keep in mind. YOU MUST HAVE A BROKER WITH EXTREMELY TIGHT SPREADS. ECN is the only way to go with this product. It was not very profitable when I had it on Forex.com, but when I went to FXOpen with an ECN account, the EA became unleashed. And to account for the lack of code, easy explaination. The strategy is super simple but that doesn't mean it's not profitable. It seems to operate only on Wed and Thurs for a few hours and only trades one pair in one direction. I have made up to 7% account equity in one day of trading. I have been burned by many EAs which is why I use clickbank only to purchase them. I just thought I'd write a good piece on this EA because it actually performs. Many times winning strategies can lose money because of the people using them not the strategies themselves. In the case of Bulletproof, I really think the broker makes a huge difference. Hope this helps.

Kind regards,
Omar E

2010-11-03 4stars I know a lot of people have dogged this EA but I have been running it since it came out on live account and it has performed positively. Very small returns until today's FOMC release. It traded 39 times during an hour and only lost 7 of those trades. The ones it lost were mainly small. Overall increase 5% of total account equity in ONE HOUR. I have lower than 1 pip spreads on my accounts even during high volatility times so I think it allowed the EA to trade quickly. This EA usually trades one time per day and usually during the tail end of the NY session. Many EAs have hundreds of pip stop loss values. That doesn't necessarily mean that orders will be closed when the price reaches that value. Many times they close out far earlier than that. Anyway, this EA more has more than paid for itself and I haven't seen any painful trades from it yet.

Let me put it this way. In the last month I have been running 'ForexBulletProof' (who thinks up these names?) EURUSD has been losing the least amount of money. I am not sure if it's because I am using the wrong broker (FXCM) or I have got some settings wrong, but doesn't look good. Whoever that guy is who gave it 5 stars I would seriously like a word with him, if he is for real. EA also looks small, which generally means code is simple. And simple code generally means that strategy is not well developed. Anyway I am on the point of getting a refund from clickbank. Will let you know how it goes.

If you are persistant, Clickbank will only permit them to change the ticket to tech support a limited number of times (around 10 I think). After that they can close the ticket and the closed ticket will have a link to escalate to Clickbank. After this , Clickbank will process your refund after a couple of days.

I tried this EA and the profit potential is not worth the risk. 80% drawdown backtest is not a safe EA. I consider this product to be a scam because they do not honor their refund policy even though it is through clickbank. They keep changing it to tech support no matter how many times you request a refund. I will going to call clickbank directly to report this as Vendor abuse of the support ticket system that clickbank offers.

Click bank phone numbers:

US and Canada Toll Free: 1-800-390-6035
Direct: 1-208-345-4245
International: +1 208-345-4245

Action: CHANGED: CUSTOMER : 2010-09-29 08:42PM
Comment:
Changed from Tech Support to Refund
Action: CHANGED: VENDOR : 2010-09-29 08:41PM
Comment:
Changed from Refund to Tech Support

Please don't hurry with decision of leaving us. If you have some problems with the set-up or some errors we`ll be happy to assist you. There always can be some period without large profit because of market condition, but please continue testing the robot and maybe you`ll change your mind.
Action: CHANGED: CUSTOMER : 2010-09-29 07:20PM
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Changed from Tech Support to Refund
Action: CHANGED: VENDOR : 2010-09-29 05:45PM
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Changed from Refund to Tech Support

Please can you describe your problems in greater details and we`ll be happy to assist you.
Action: CHANGED: CUSTOMER : 2010-09-29 04:25PM
Comment:
Changed from Tech Support to Refund
Action: CHANGED: VENDOR : 2010-09-29 04:59AM
Comment:
Changed from Refund to Tech Support
Action: CHANGED: CUSTOMER : 2010-09-29 04:46AM
Comment:
Changed from Tech Support to Refund
Action: CHANGED: VENDOR : 2010-09-28 08:46PM
Comment:
Changed from Refund to Tech Support

Please, try to run the robot for 2 weeks more, and maybe you`ll change your decision, in any case there is 60 days refund period, so thats enough time more.
Action: CHANGED: CUSTOMER : 2010-09-28 08:14PM
Comment:
Changed from Tech Support to Refund
Action: CHANGED: VENDOR : 2010-09-28 08:00PM
Comment:
Changed from Refund to Tech Support

Please, don`t hurry with the refund, there is enough time to test the robot more on demo account without any risk for real money and you`ll see that it is not riskily and make profit. Also if you have some problems with the set-up or some errors we`ll be happy to assist you.
Action: CHANGED: CUSTOMER : 2010-09-28 04:45PM
Comment:
Changed from Tech Support to Refund

On the site it states "if you are not satisfied for any reason with your purchase you are entitled to our full 100% money back guarantee". I am not satisfied as the backtesting shows 80% drawdown level. That is not a safe strategy even though this EA was advertised as such. I will have to my bank involved if you continue to refuse my refund request.
Action: CHANGED: VENDOR : 2010-09-28 06:03AM
Comment:
Changed from Refund to Tech Support
Action: CHANGED: CUSTOMER : 2010-09-28 04:45AM
Comment:
Changed from Tech Support to Refund
Action: CHANGED: VENDOR : 2010-09-28 12:08AM
Comment:
Changed from Refund to Tech Support

Dear Jason
Drawdowns are a normal part of the Forex investing landscape and they should be expected. You should know that All trades stay in minus for some time. The Forex Market always has price movements in both directions - there is no problem here. A current minus does not mean a loss, because the trade is Open. Only closed trades can be considered losing trades.
Action: COMMENTED: CUSTOMER : 2010-09-27 08:47PM
Comment:
Please refund. I was mislead by the webpage. 80% drawdown is not a "safe" strategy.
Action: CHANGED: CUSTOMER : 2010-09-27 08:42PM
Comment:
Changed from Tech Support to Refund
Action: CHANGED: VENDOR : 2010-09-27 08:12PM
Comment:
Changed from Refund to Tech Support

We are really sorry to see that you want to leave our friendly team of BulletProof traders.

Please let us know what happened and how we can assist you. Perhaps you had the wrong settings or were using the wrong broker? Could it be that you had trouble installing the robot? If so, our technical team provides excellent customer service and our team would really like to assist you with the proper setup, so that you could start earning with our product.

Please note that you will no longer be able to use our product if you have requested and received a refund from us.

Buyer Beware. This sure seems like a scam to me. The product is disappointing to say the least and one can expect countless evasions when asking for a refund.

Only losses in real accounts and backtests, it's terrible.
The worst comercial EA I know.
Don't buy it unless you don't like your money.