Performance Test
Advertisement
Advertisements

ForexEspionage.com Review Performance Tested Expert Advisor

Overall Rating: (1.333)
Get code for your site
Total Reviews: 8
Last Updated: 2014-03-25
Click here to join live discussion of ForexEspionage.com on our forum
Advertisements
court COURT file case Cases Open - 0 | Not Guilty - 0 | Guilty - 0   reviews REVIEWS submit review

FPA Review Moderation Team, USA

Rating: No Rating
Date of Post:2009-05-26
Review: We haven't tried the EA from ForexEspionage.com. If you've let this software trade your forex account for you, please leave a review here.

2009-06-03 Update The FPA has begun a performance test of this EA on a demo account. Please click the link under EA test in the upper-left corner of this page to see it.

Lots, NetherLand

Rating:
Date of Post:2009-07-08
Review: Tried on an Alpari demo the standard and turbo version, it wiped out the $5000 account in just three weeks.. Only a few trades per week, losses are so big the few winners never gain enough to recover. Clickbank was quick to give me a refund

DJ, Canada

Rating: No Rating
Date of Post:2009-06-13
Review: I started using Forex Espionage on a demo account of $3000, and I was skeptical in a negative way because it isn't mentioned until after one orders Forex Espionage that to fully capitalize on the system one must also order Forex Espionage Advanced which is a separate EA for shorter term trades. Nevertheless I've found that after 6 day's I'm up almost $400. I couldn't help but be curious about lack of long term trades since I wasn't seeing activity in that department, but it was reiterated in the manual that the EA doesn't enter trade's for the sake of entering them, and that the objective is to make profitable trades. The system has since started long term trades. The system is easy to setup as long as you're familiar with using .zip files, and even though upselling is utilized to maximize on the system it looks pretty good so far.

Alex, Minnesota

Rating:
Date of Post:2009-06-07
Review: I tried this and another bot out of curiousity. Any vendor who sells you something, then tries to upsell you to the "advanced" system should be a fat RED FLAG to run the other way. No trades for a week, not even going to wait the 60 days on this one....refund time.

The only way to become a consistently profitable trader in any market is after making thousands of trades, to gain the experience of "time in trades", make the emotional and technical mistakes, learn from those mistakes, and start the profit curve advancing. There is no shortcut or holy grail and a bot is certainly not going to make you wealthy, only the people who market and sell it to the masses that are on losing end of trades make out.

These guys are nothing more than internet marketing folks who know that plenty of losing traders will buy a product that promises RICHES. This is hogwash folks and if you buy it I have some snakeoil over here in my tent....... the good thing is Clickbank allows you to see it for 60 days and get your money back with no problem.
Advertisements

LIGIO, COLOMBIA

Rating:
Date of Post:2009-06-06
Review: this ea shows diferent results in back test, i tried this ea and i ask for refund, the results are far away from the webside, its work only in 4h, they said that make 3 or 4 trade per day, that is lie, make 2 or 3 per week, i tried in back test with forex meta, mb trading, alpari us and uk, forex open, and the result was the same, bad, very poor profit,

Mac109, Los Angeles

Rating: No Rating
Date of Post:2009-06-05
Review: I also bought this EA, only because it has a money back guarantee. I decided to get the 'Advanced' version too. Like McKeen said, it's just a pdf file with a manual system.

After they sent me the Espionage Turbo I put it on a demo account and when it took a trade, guess what? In the Comments it says, "ForexVampire"!!!! I searched online and sure enough, Forex Vampire is another EA from someone else, so it appears that this is just another rip off. Who knows, maybe Forex Vampire is a rip off too.

I got my money back, but left them on demo accounts just to see what would happen. No trades in a week so far for Espionage, but Forex Vampire took 5 trades - 4 wins, 1 loss, for a net profit of around $50. So Vampire may have possibilities, but time will tell.

Barry , Brooklyn NY USA

Rating: No Rating
Date of Post:2009-06-05
Review: I too feel that I have fallen for the hype of this EA. I have the two robots and have been running them continuously since their debut in two demo accounts. The results have not been anywhere like their presentations. I have written to their tech support, but I don't expect much help. The only settings you can change is lot size and the stop loss. I'll give them some time, but I expect to return it well before my 60 days are up.

McKeen, Stockholm, Sweden

Rating: No Rating
Date of Post:2009-06-04
Review: I never had a trade live so unfortunately I can't rate by stars.

What I can tell you however is this:

After buying the sales-pitch on the wonderful homepage promising possible 6-figure sums from silly amounts in a year or two you pay your 121.25$ including vat..

.. But what comes then, yes, another offer. A special "advanced" espionage-system that you can only buy right now.
So you just paid 120 bucks and then you understand you didnīt get the best after all, you are still missing the best part.
So then you buy the advanced package too for another 97$ including vat - and surprise surprise - you recieve the Espionage EA and also a PDF-file explaining the advanced Espionage system. That system is a manual system based on counting bars after outbreaks, or "superbars" as they say. Didnīt they just sell me a hands-off solution? No way Jose... The other pdf for the EA itself is sometimes poorly written and contradicts itself a few times especially on what pairs to trade and also what timeframes. Reading from start itīs the gbpusd in the setup and example, but on the very last page they have suddenly seemed to change their mind, because now itīs the eurusd your supposed to be at. Same thing about what timeframes to use etc.

I also backtested the EA for May 2009 and I had 3 trades. 1 minor loss (maybe 15 pips), 1 100 pip profit and 1 25 pip profit.

Thats all good for me because i want a sniper system with high probability trades.

Unfortunately my other backtests showed that the probability isnt even near any 90-95%. Rather around the 55-65% level.

To this comes the built in unchangeable stoploss at around 140 pips.
I never hit it fully in backtests, but with such a slow system you will sooner or later raise your risk, and if you do that with a 140 pip stoploss you will regret you did.

Yesterday we lucky "early-buyers" got an extra bonus in form of a short-time EA designed for 30M timeframe.
I backtested this one Jan-Feb 2009 but turned it off second week of february when i discovered that it had no less than 18 loosing trades in january and 1 - yes one - winning.

Also the support-site for the software includes 7 other EAīs soon to be released on the market (some are already). That kinda takes away the uniqeness of the system and also makes you wonder if this really is that marvelous money-machine that you thought you were paying for.

Only good things is the marketing (holy cow thatīs something) and also that they sell thru clickbank so I could have my 200$ back in no-time. Stay away from this sales-pitch and find somone who have some faith in what they are doing! And definitely donīt buy the promises on the main page and go putting it on a real money account. Because if you didnīt notice, they didnīt either, all the promises is based just on that - backtests. (Some doesn't even display the modelling quality) Mine where at 90% and every tick...
Look for yourself, itīs right there on their homepage.

Over and out for this time..
Show reviews per page
Sort:
Advertisements