Dominic Millan -fxirobot, magicfxrobot

Tariq Syed

Recruit
Messages
10
Hi

Beware of this scammer. He charges $2k for a robot that has less chance of working for you than winning the lottery.

I tried to make it work for seven months so gave him every opportunity.

Initially it worked great on a demo accounts with Alpari and Fxpro. But live accounts went bellyup. He then informed me that something had gone wrong with Alpari so he suggested new brokers and a new version.

After opening accounts with the new brokers and eventually receiving the version my first test didn't work.

So to give him one last chance I signed up to his managed service, where he uses the robot and no doubt should be using the best broker and optimised settings for the robot. He charges a refundable deposit of $500 upfront for his commission.

Again the account was blown within 3 days. The fact that he is unable to make money with his managed service using his own robot proves this is bull. Furthermore after he's blown your account he refuses to refund you the refundable deposit as his commission should be Zero.

He has a number of other sites apart from www.magicirobot.com and The best forex expert advisor on the market - supported by real account logins.

I have asked him to refund my $2k as clearly the robot doesn't work. He has refused. I have also asked him to refund the $500 refundable deposit and he has not replied.

Not quite sure where he is based but have a Japanese address.

He has a lot of demo accounts as so called proofs that his robot works...however as already mentioned I had great success with demos but none with live accounts.

He also claims to have record of a real account. This may be true or may not, it is a Japanese broker and unless you can speak Japanese you will find it impossible to open an account.

Regards
 

vincam

Sergeant
Messages
322
How does that work on "managed funds" like this one that ripped you off? Did he just call you three days after management of your money and say sorry, I lost all your money? Maybe that is his plan all along, for the robot not to work and tell you that only he can make it work so send me your money and I'll make you rich. How did you send the money to him?
 

Tariq Syed

Recruit
Messages
10
Hi

For each Broker you need to supposedly optimise your settings. He gave me some settings for the brokers I was using but they didnt appear to make any difference.

For the broker he uses for managed accounts he refuses to give you the settings, so you assume he has the optimised settings to trade with this broker.

You simply give him access details to your account and he supposedly runs the robot on it. Yes after 3 days the account was blown.

The original money for the robort was wire transferred. The deposit for the managed account he aske you to transfer from your broker account to his broker account by internal broker transfer.

Regards
 
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Pharaoh

Colonel
Messages
20,020
Inform the broker that he's using.

If you set up a master/slave EA, and run the slave yourself, that's usually within the trading rules. If you give someone your account number and password without an LPOA, that's against the rules of almost every brokerage.

If he's trading accounts account without an LPOA and the broker finds out, they'll very likely block his access.
 
Last edited:

vincam

Sergeant
Messages
322
You could try to talk to your bank about it, as far as the wire transfer and see if they have any kind of fraud resolution for you. Also post your story around the web, maybe he'll notice and try to resolve it with you, if not at least someone else knows:

scam.com
ripoffreport.com

Consumer Fraud Reporting - Free Consumer Protection Information About Scams has lots of links to other ways to report scams also.

Post a review of his sites/systems here in FPA also.
 

Tariq Syed

Recruit
Messages
10
Hi

He says we will repay me back the refundable deposit later this week and also place $100 in my account sorthat he can build the account up again.

I'm a bit dubious but lets see what happens.

Regards

Tariq
 

Pharaoh

Colonel
Messages
20,020
Most likely he's buying time to cover his tracks better. I'd go ahead and start reporting any accounts he's had direct access to. The brokers can check the IPs he's been using and start to lock him out.
 

Tariq Syed

Recruit
Messages
10
yes, no refund and no replies to any emails.

The broker he recommends for his managed accounts is Exness and they don't seem too helpful.
 

Tariq Syed

Recruit
Messages
10
I learnt from a thread on another webiste that Dominic Millan might be an alias and his real name is Jim Morris.

He also ha or used to haves another website, superfxrobot.
 
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