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COURT
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REVIEWS
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FPA Review Moderation Team, USA
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No Rating
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| Date of Post: | 2009-06-08
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Review:
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We haven't tried the EA from ForexDerivative.com. If you've let this software automatically trade your forex account for you, please leave a review here.
2009-06-21 Update: The FPA has begun a Performance Test of this EA on a demo account.
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kea, Washington
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| Date of Post: | 2009-08-07
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Review:
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Utter garbage--stay well away as this EA will DESTROY your account. Equity eater |
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Mike, Johannesburg South Africa
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No Rating
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| Date of Post: | 2009-07-29
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Review:
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I ran this on a live mini account and earned 32% in 3 weeks which was great. Lost the entire amount plus a bit the following week. They have upgraded the EA but this is not working. The only reason my account is up is due to my own trades. I have finally decided that EA's are a promise of profit without personal effort and the world does not work that way. |
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cassel, uk
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No Rating
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| Date of Post: | 2009-07-28
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Review:
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Had tried it on demo successfully and made good notional profits for 2 weeks, I tried it on live. Total disaster. It wiped out my account in one night. It opened and closed the identical trade every minute for about 400 trades, each losing.
Avoid. |
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Raanan S., Israel
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| Date of Post: | 2009-06-28
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Review:
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I started to trade Live this product, and after 3 weeks loosing loosing loosing I removed it. Maybe the market don't suit the product or the product can't cope with the Market - I don't know.
BUT this product was bad for my account. A reasonable EA is expected to show sometime a curve that is heading up. Not down. |
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James Dailey, Syracuse, New York
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| Date of Post: | 2009-06-23
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Review:
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I started trading with this bot on two demo accounts two weeks ago and both accounts are down about 50%. Backtesting was great, however the same losing trades did not show up in a backtest. This product is misrepresented big time and the way I see it I wouldn't trust this product because it takes on trades that I wouldn' trade manually. Do not use this product or you will lose big time. |
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Steve, NV, US
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| Date of Post: | 2009-06-22
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Review:
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(Unfortunately) I bought this EA and put it on 4 $5,000.00 demo (thank God) accounts with 4 separate brokers. In one week 2 accounts were down to about $3,500.00 and the other 2 hovered around $4,000.00! Unless your idea of fun is giving lots of money away, I would stay as far away from this EA as possible! |
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Alex, Malaysia
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| Date of Post: | 2009-06-22
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Review:
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Hi Guys, here is the infor i found from Mark that this is the scam.
If you decompile the code, you may find all the backtest are best fitting to the good result. And you never have good trading and demo test. |
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Larry Riegert, Ontario, Canada
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| Date of Post: | 2009-06-22
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Review:
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I ran Forex Derivative 2 for at least a month on demo and all it did was go down. Got my refund from ClickBank |
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kvorex, Belgium
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| Date of Post: | 2009-06-22
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Review:
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I've been running this EA for a couple of weeks on one live and 2 demo accounts. Only on euro and cable as the other 2 pairs didn't look promising. It takes different trades on different accounts and completely different on backtests with the same data. Some of the trades it takes are of a newbie picking tops and bottoms incorrectly. However due to the very large SL it manages sometimes to survive the disaster.
The build-in MM as per my tests is worth using only if you have an account bigger than 5K as it is over optimistic. Any account smaller than that is better off with fixed mini lots.
Although they implemented Profit protect feature, I don't understand how this works and I'm moving the SL to BE as per my trading strategies. To be fair I've seen one trade that closed in possibly profit protect mode.
Initially their support seemed fast and accurate but as soon as I asked them question as to why the trades are not constant, profit protect, etc. they stopped responding. Probably working on the new version.
My live account is about 20% down but it is better than the backtest for the same period:)
I'll give it some more weeks a try as June is a difficult month to trade anyway.
Sorry, it is a bit long but hopefully helpful.
Anyway EA are for fun. I don't believe you can make money with commercial EA.
Cheers! |
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