Advertisement
Advertisements

ForexLiveRoom.com Review Trading Room

Overall Rating: (4.029)
Get code for your site
Total Reviews: 40
Last Updated: 2014-09-21
Special Notes:

Formerly known as MarketBytes.com. Formerly known as MDSMarkets.com.

A completely new trading team took over in October 2008.

 

Click here to join live discussion of ForexLiveRoom.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:2008-03-18
Review: We don't have any experience using the forex education, forex signals or other forex tools from MarketBytes.com or MDSMarkets.com. If you have used their forex products for forex trading, please leave a review.

Kenny G, Croydon

Rating:
Date of Post:2010-08-31
Review: Very impressive. I highly recommend these guys. They give advance notice of when they will trade most occasions so you can get your own order in. This is my 3rd month with them now. Would prefer if they spoke more but it is mainly just text now with audible alerts. but very good service and my profits are up over the few months despite me just doiing first couple of hours each day.

Stephen, UK

Rating:
Date of Post:2010-04-21
Review: This is a very friendly and informative site. It trades the European and US sessions with a high degree of accuracy taking relatively short term trades.The people are very knowledgable and conservative. There is sound as well as chat which is very helpful. It's also good value. Recommended

Jesse Smythe, Australia

Rating:
Date of Post:2010-01-22
Review: Been with Daps and the team now for over a year!. They are very good at what they do and the consistant pips/profits are fantastic!.
Would recommend this service to everyone!.

Keep up the good work daps!.

S.M, London

Rating:
Date of Post:2009-11-16
Review: Subscribed to FXLR for around 6 months and to begin with they produced some good results consistently.Last few months has been very different and a run of bad results has left them reluctant to call ANY trades and those that are called are small winners or small losers so net /net a waste of energy. Support is non existent , do not answer emails quickly if at all.Could be a good trading room but trades need to be called more frequently off better set ups than at present .

SJ, UK

Rating:
Date of Post:2009-10-16
Review: I stumbled across these guys whilst researching another site which I liked the look of. There is no doubt that these guys do call trades, however success is pretty limited, not suprising given the total lack of fundamentals backing up each call. I have traded for a while and frequently held back from following their calls because they just looked ridiculous. The thing that really frustrated me about this site however is the embelishment of trading results. They claim 1000 pips a month, but having mirrored some of their successful trades, there are 2 key issues.
(1) They do not factor in speads, ie they totally ignore the minimum 3pips which is payable on every trade, simply calculating profits off the chart from one line to the next.
(2) They call trades based on the crossing of a resistance or support level after it has crossed, but calculate their profits exactly from that level, there is frequently 5 or more pips between where they have drawn the line and where they would have feasibly entered the trade (and where everyone else has entered)

Taking these two issues together, there is no way that anyone should believe the 1000 pip claims that they make - you will not make even a third of this once you factor in the spreads and the point of entry issues given that these are 10-15 pip trades at most. Even on their most successful 20+ pip trades, I found I couldn't make more that 8 at most because of these issues.

Altogether, the site looks pretty good and support seems good, but unfortunately the performance and measurement is pretty questionable.

Avoid
Advertisements

Michael S., Guildford, UK

Rating:
Date of Post:2009-09-06
Review: It's nice to finally find some guys who put their necks on the line and call trades and say when they are actually trading. They send heads up messages (as they call them) by mobile text as well as in the live room when a trade set up is approaching so to give you time to check it out or place an order. They also log every trade and the support is excellent with answers in seconds and minutes.

For info. When I asked the trader daps why they'd had bad mention of support that is mentioned on here he explained there was a period of a month or two where all support emails were going to some complicated system that was left by previous owners and they were all lost. That was 7 months ago and they all sorted now. But they should have got that in order immediately so not much of an excuse if you ask me. But back to now and it has been excellent.

I enjoy the talk in the room and am getting more and more confident to place my own orders as levels and break outs approach. The heads up alerts are fantastic. I'll be staying here now.

Best wishes Michael.

Hamad Albaghli, Kuwait

Rating:
Date of Post:2009-05-11
Review: i subscribed in 2008 in their live room , it was good but im not a big fan of live rooms , now they change their site and add an intra day alerts, really good performance.

trevor, southend uk

Rating:
Date of Post:2009-02-03
Review: I cannot fault the advice given by Daps in the live room BUT...Support!!!!!!!!!!!!!! the don,t know the meaning of the word. No phone contact any more, e mails ...no reply. I will stay in the room for one more month and try to figure out problems with templates and indicator downloads, as none of them work, after that if I still cannot follow the charts all day, then I am out.

Honest Bill, Dublin

Rating:
Date of Post:2009-01-07
Review: Mark B. from Brighton,
I am full time trading now and making pips consistently thanks to Dan, Zak and James. If you look at the 5 star ratings MarketBytes used to get here, several reviews mention Dan's name. So, so what if they did or did not work in the city as traders? I've never traded in the city either.
I wish MarketBytes well. After all, that was where I met the guys mentioned above. They can be found here http://www.forexpeacearmy.com/public/review/www.fx500club.com

Review Moderation Team Note: Honest Bill has provided the FPA with proof that he really was a MarketBytes subscriber.


2008-12-11 1 Star I thought I submitted a review on this company in early July. It was a 5 Star rating. It wasn't posted for some reason.

Now, I have to agree with Fran from Shropshire below. Dan, Zak, James (Monkey) all left the company. They have set up themselves at www.fx500club.com. So, my 5-Star rating now goes here. I'm going to submit it for review now also.
Show reviews per page | Next page>>
Sort:
Advertisements