GoMegaTraderFx.com Review

My last post about the now called "Gomega Xray" EA was late 2009.
The recently updated EA inspired me to post the review
In my opinion the new release is much improved and matured product. This version takes selective trades(does not over trade) and all the major currency pairs I traded produced excellent to acceptable results. I started demo trading a week ago and the my $5,000 account increased by $468. Not a bad result. Of course It has to be tested much longer to establish its effectiveness. However, interestingly it beats those ..".F( )( )C" robots that I also demo trade!

There are significant improvements in the way trades are selected. The developers forwarded a list of recommended settings but the trader can also change a inputs to suit ones trading style. I like the currency strength indicator and the ability to initiate a trade buy or sell manually ( for experienced traders) and then let the EA manage the trade. Trailing stop and stop loss settings are also available.
To summarise, I can say I started having faith again in this product and I give 4 stars (conservative) and the option to increase the rating after further testing.

Cheers

2009-11-27 12:00AM 2 Stars My first posting regarding this EA was on - 12-29-2008.
We got numerous EA updates since then but....the program hasn't evolved as expected. Various bugs where "fixed" but it appears with "updates" other bugs emerge and the fixing... gets slower and slower to a ...."crawling" mode.
People who purchased this software spent between $ 2500 to $5000 (depending when bought). I say the developers lost my and others confidence that this EA will be above average.
Currently is just above average and an expensive one.
The forum page also disappeared living instead "an attack page"
Very strange!

Cheers

2008-12-29 No rating I am a serious "forex" trader who plans to trade forex for living. I already traded demo accounts and recently live ones.

Some time ago I purchased FXPP (Forex Profit Pro) and traded the EA on demo accounts. The software was just out of "Beta Testing" and both developers and members admitted a few issues needed addressing. As with any software there is an evolution stage and them an upgrading stage..

The software was not cheap.It costed over US $2000 and understandably some purchasers got disgruntled. The vast majority of the members supported the developers in their efforts and to cut it short the "GoMega" Fx trader is now an outstanding product. I say the trading ability of this software warrants the money spend.

I did try lots of "Expert Advisers" or "Robots" and fund the vast majority are worthless in real live trading. Some also are reincarnated "absolute" products with "new" names.

It is totally unjustified to name the FXPP/GoMega" a "scam".
The developers worked hard to produce a now outstanding and sophisticated software. There are honest, reliable and always responding to members suggestions.

No I am NOT connected in any way with the developers, I am a purchaser and an FPA member who wants to put the record straight regarding some "scam" claims. So no star rating is necessary.

This product is a ridiculous scam and you should stay far away. I would appreciate anyone that has successfully received a refund from them to please post and offer advice on you got them to refund your money.

I have not tried this, but the GoMega Xray (the latest version) is so bad that you could probably just open positions opposite of what the system opens and make money. Of course, this is exactly the opposite of their motto which claims you just run it and walk away to make a nice return. There is no positive return. The worst part is that months after this latest "Xray" launch, they still have yet to even release a fully functioning product that was advertised. The product is supposed to scale out of a trade, but this functionality still does not work, of course, so few trades actually make it this far, who would ever know.

Shame on me for being so stupid as to purchase this... shame on them for being so unethical that they do not provide refunds for a product that they know, and admit in their own product emails, doesn't work.

I purchased the GomegaFX software in June 2008 and it was promised sometime in August 2008 (yes, some of us paid pre-launch for this product). They delivered the full product in December 2008. In December, they "launched" the product again and entangled another group of users in the Gomega web, at 5k a pop. Once it was discovered that GomegaFX did not perform to expectations, out comes the next version, Gomega X-Ray. I am currently testing this version and trust me, it is not blowing down the doors with profits. These folks never do any legit forward testing pre-launch nor do they ever show (if they even have them) live results. I have never made a dime trading with this software. I have had some winning days sandwiched between massive losses and overall my losses have been significant. There may be users out there who have found certain settings, pairs, time frames, etc. that work well but I have not heard from them (no blogging, good reviews here, etc.) This is not a

Someone mentioned that past sales have been used by Quantum Research to allow them to pay for R&D. Are you sure its not their big house and fancy car that's being paid for?!

I need to see some real account statements in order to believe that this is worth something.

I asked several times to show me a live account statement but they have not been able to. They must constantly be tweaking the software and then running it through backtesting.

Someone prove to me that this is worth the money.....please.

I purchased this software for $5000.00 back in december for with the understanding that this was the best EA system available. I normally would not believe it but there were some individuals that convinced me this was the real deal. Well, now we are all out of a bunch of money together. I don't know how it is possible that someone could say this was anyhting but the worst piece of sh** out there. The sucker move was to charge a lot to get you to think you are getting the greatest piece of software out there. Wrong! I warn you my friends - this is not worth 2 cents much less $5k. If you are wanting to unload some money I would gladly take it off of your hands. This company also has a refund policy however it is discretionary based upon whether or not theyfeel you used their software properly. Well, in short they wont refund anything. I have asked from month 1 for a refund and they refuse to discuss it. I have had a $50k demo, which was set up meticulously with their parameters, margin out. Don't buy this crap there is so much better out there for so much less that does work. Save yourself the headache and the $5k - stay away from this SCAM!

By the way, I am still trying to get my money back - will keep you posted.

I have the new Gomega software.It was given to clients that purchased at a pre-released offer around August.The results were very good.I learnt I learnt that it was an upgrade of the old fxpp.The gomega given to us around August trades only gbpjpy and the full version is also out now.I just used it on a demo account for 4 trading days and the equity went up 11%.This full version has alot of settings which make results differs from every clients.The settings are made in such a away that it fits individual trading style and risk tolerance.That same week of my first trading with the new complete version with about 8pairs,someone had a 20% returns in that same first week and that is due to his own settings.The software is very good.But if you want to get a copy,you must be very ready to do your own testing of different settings to get the best result.These guys at Quantum are not going to stop their research on how to make the software better.They have really try with this new gomega software.

This has to be one of the biggest SCAMS there are. The auto trader just is not profitable. Sure they will show you a few profitable trades but what you don't see are multiple losses for every 1 winning trade. You have an equal chance of picking profitable trades by closing your eyes and randomly clicking buy or sell. You will need to keep manually trading your own system with profits in order to compensate for all the losses that the FXPP Auto Trader will produce. They keep selling the EA on a temporary basis just to get funds for research and developement. This product is far from completion. Don't buy this product unless you don't mind spending $2500 for their R&D. Do not even click on their website, stay as far away as you can.

I own the automated version of the Forex Profit Pro. It trades exactly the same as the manual version, only it does it for you.

The developer of the system is, without a doubt, a very experienced trader and is very responsive to its customers, and has worked very hard over the years to come up with a profitable trading system. I dont have a whole lot of experience with the manual version, so I cant speak for it. But the automated version is supposed to trade the same way, so I think its safe to say that your results (whatever they are) will be the same with both programs.

The reason I think this system is a SCAM is because it simply is NOT profitable. The developer shows you all kinds of equity charts on the website which make you believe that you will double or triple your money in just a few short months. In truth, ALL of the traders who are using this system (most in DEMO mode) are totally frustrated and have either given up or are waiting for the next version of the program to come out to see if it will be profitable. They have a Traders Guild forum where all of the users post their results and discuss the system and the trades. Before buying the program, you should demand access to the forum to see what current owners and users of the system are talking about every day. Most of the posts are about the never ending stream of losses and suggestions about how to improve the system. Some are optimistic and positive, but they are mostly from traders who are in hope mode, praying that their investment in the program was not another waste of money.

Questions to the developer about why their published results dont even come close to those experienced by every single rank and file owner of the system have been ignored.

I have given this a SCAM rating only because the developer continues to advertise the system as a wildly profitable system when it it not. Truth is, if you buy this program - in its current state of development - you are guaranteed to lose even more money than you spent on the program.

If and when the program starts to generate a profit (as experienced and reported by the traders in the Guild forum NOT the hypothetical BS that the developers report on their site) I will be the first to come back and retract this SCAM rating and give it 5 stars. But for now, if I were you, I would look elsewhere for a profitable system. At this point, you would be better off trading the best system that YOU ever developed.

Dont wast your money.