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MBFXSystem.com (Mostafa Belkhayate) Review

Overall Rating: (3.238)
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Total Reviews: 26
Last Updated: 2014-06-03
Special Notes:

 

May 2011:  A large number of fake positive reviews submitted. The FPA recommends a very high level of caution dealing with this company.

Other websites related to this company include www.new-trading-system.com

NOTE:  2012-06-03.  The CEO of New-Trading-System.com has threatened to sue the FPA to remove the statement about it being related to MBFXSystem.com.  This threat originated in France.  The possible relationship was brought to the FPA's attention by 2 fake reviews submitted from France.  One claimed to be from the UK, the other from the USA.  One was posted to this review page.  The other submitted New Trading System as a new site in the reviews.  Both talked about New-Trading-System.com selling an indicator from Belkhayate.

The FPA does not know whether these companies are related by ownership or not.  It does appear that there may be some relationship in the source of their trading methodology.

Click here to join live discussion of MBFXSystem.com (Mostafa Belkhayate) on our forum
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FPA Review Moderation Team, USA

Rating: No Rating
Date of Post:2011-02-27
Review: We haven't tried the forex trading software from MBFXSystem.com. If you've used this to help you trade forex, please leave a review here.

daveM, Toronto, Canada

Rating:
Date of Post:2014-02-19
Review: This system is easy to follow, and is relatively accurate. It requires some sensible money management, there are guidelines in the pdf file.
For beginners or experienced, this is a great sustem for manual trading

John, , Italy

Rating:
Date of Post:2013-04-07
Review: I bought mbfx 1 a lot of time ago...THAN i asked the real "Mostafa Belkhayate" on facebook about the program, and he said he did not know anything about the company which sells it, and he had nothing to do with them.
He is a fund manager and also own a bank of gold, do you really think he needs you 97 usd money from Clickbank?
Of course not, if u want his review you can watch what he shares for free in his page on facebook, in french, but, of course, he does not sell his system through landin page....
So the company simply adapt Centre of Gravity indicator and stochastic oscillator, and change its name.

Miguel, Lisboa, Portugal

Rating:
Date of Post:2012-09-27
Review: Hello,

I have used MBFX sms signal services, since the results were not what I have expected I have decied to cancel the service

Since I cancel the service I am now not receiving their sms signals service which is fine, what makes me very upset is the fact that now I am getting one sms per day with a marketing message, I have already sent 4 emails in the past month and they are not replying at all

Now, I was so stupid to give my phone number, they dont reply to my emails to contact@mbfxsystem.com and they complety ignore this my emails

I was not happy with the service, but due to the fact that they don't stop sending me sms and ignore my emails , I have decided to place this review, before joining make sure if you really want to have a sms message everday after you cancel the service

I have contact my phone provider, and what I was told was to make a police complain so they can block this number in all my country networks, it seems if I make this complain they will be blocked on all our country SMS providers, I hope so, I will do the complain soon if the messages dont stop

A Trader, , USA

Rating:
Date of Post:2012-08-09
Review: If you can't figure out how to make money with this, you don't need to be trading. Anyone who understands how to use different time frames to determine trade set ups can see that this indicator makes confirming trading entry points very easy. If you are dumb enough to trade off of an oscillator simply by where it is pointing, again, you don't need to be trading. If you are on here griping about "repainting", you don't know how to use oscillators properly - so don't. If you don't know how to use Fib and EW and candles as overlapping confirmation of entry points, you don't need to be trading. Believe me, if you know what you are doing, you can successfully use this on ANY time frame.

Jack, London, United Kingdom

Rating: No Rating
Date of Post:2012-08-04
Review: I got no support from this vendor - just replies to my emails saying he's checking and then nothing further. After 6months of askign same question I gave up on him and his product.
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Jeff Kum, Kuala Lumpur, Malaysia

Rating:
Date of Post:2012-07-19
Review: A very good product but not good enough for scalpers. most of my winning trades is on H1 & above. make few losses on M5 chart. The only thing is you need to wait for a golden moment which a lot of new traders will not wait. Lucky trading!

fatimah, KL, Malaysia

Rating:
Date of Post:2012-07-13
Review: I have taken a few courses on forex but the one that really makes money for me is mbfx system and i am also subscribing the mbf sms, God i love it. I started using the system and receiving sms signals last monday, my account now is doubled.. take time to learn and be patient... if i can make money, so can you.. I am very happy now as i can now say i will make lots of money in the future..

Andreas, Wiesbaden, Germany

Rating:
Date of Post:2012-07-02
Review: Attention!!
I asked for refund over 2 weeks ago. They sent me a confirmation, that the money will be refunded in the next 72 hours. Until now nothing happened. And they don´t answer my following mails.
So be careful before you buy the system.

Peter, , United Kingdom

Rating:
Date of Post:2012-06-30
Review: I’ve had MBFX for two years and enjoyed using the system – simple to understand, nice looking template- and got OK results
Then a couple of months ago I received the upgrade to MBFX 2 with the new indicators – free.What a difference! The new indicators plus 2 further years forex experience has made this a killer system for me!

I have a good working knowledge of support/resistance, fibonnaci, candlestick patters and channels. I cross reference the signals in this system against this knowledge and the results have been excellent.

The system may be a repackaging of other indicators – but that does not concern me. The end product is good-looking and easy to use. I can make up the cost of the system on one trade.
I agree the system probably works best on 1 hour and 4 hour charts but I have used it successfully in time frames ranging from 1 minute to 1 day.

The system is essentially a reversal strategy but I find the new indicators can be used to successfully implement a trend trading strategy.

The system is a dynamic system and so repaints because it indicates the position of current price against the centre of gravity. This throws a lot of people. Because of this, although the system is simplicity itself , it may be less suitable for the beginner than the more experienced trader who may be more discriminating in which signals to trade.

As part of the revamp to MBFX2 the new company that owns the system offers a signal service which is expensive (about £70 per month) and I found was pretty useless. They claim to have now changed the way they generate the signals – but I will not be trying them again!

As the rating is based on system and not on the signals service for me it is 5 stars plus, but I accept there are others who just don’t click with it.

PS in response to Craig’s post, I wait sometimes until the signal has turned from yellow to the next colour and place the stop at the back edge of the signal symbol and allow a certain amount of pips from there to allow entry into the trade a max of 20 pips on 15 min and 35pips on 1 hour. If you miss entry to the trade – so be it. Wait until the next level of indicator eg level 2 (purple) if you tried and missed the entry on the level 3 (yellow) – that is in the direction of the trade i.e the second purple after the yellow.
Look back at the set-ups that worked - candlestick patterns etc No substitute for chart-time!
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