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EA - Paypal dispute regarding Forex-Trader v1.0

Discussion in 'Scam Alerts' started by CyberG, Mar 17, 2008.

  1. CyberG

    CyberG Recruit

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    Hello All,

    Please I need quick help to settle a disputed charges fopr purchasing an EA that I believe does not work. Here is the full story below:

    I purchased this EA (Forex-Trader-V1.0) on the Ebay site and payed
    through Paypal. I followed all the instructions and installed the EA
    but it did not work and I got back to the seller informing him that
    this was not working and requested a refund as within a few days
    after purchase.

    The issue was escalated to Paypal and they want some other person, a
    third party to test this EA and verify whether it works or not. I
    have thought of who might be able to help with this situation and I
    though ForexPeaceArmy might be able to help.

    However, I am still very junior and do not qualify to post in the
    scam folders, so I thought I should send a message from here. I can
    provide the EA via attachment but there's no place to attach it on
    this screen.

    I will also provide the email from paypal regarding the issue here
    for better understanding. I would be glad if someone could help me
    out on this issue I am in. Thanks.

    CyberG

    ====

    We are currently in the process of investigating your claim:

    Case Number: PP-415-672-424
    Transaction Date: Jan 30, 2008
    Transaction Amount: -$45.00 USD
    Seller's Email: XX.XX@XX.com
    Seller's Name: Laptop-Arena

    In order to continue with our investigation, we request documentation to
    support your claim that the item is not authentic. Please obtain a document
    from an unbiased, third-party, such as a dealer, appraiser, or another
    individual or organisation that is qualified in the area of the item in
    question (other than yourself), which clearly identifies the item as not
    authentic. If possible, the document should include a serial number and
    description of the item and must be on letterhead paper that includes the
    name, address, and phone number of the individual, business, or
    organisation so that PayPal may contact them if necessary.

    To help us resolve this matter promptly, we request that you provide some
    documentation to support your claim.

    Submit supporting documentation via our Resolution Centre. You can do this
    by following these steps:

    1. Click "Resolve Complaint."
    2. Select the button to provide the documentation and click "Continue."
    3. Select a method to submit your documentation.

    Alternatively you can fax supporting documentation to PayPal at 08707 303
    196. Please include a cover sheet with your fax that includes the primary
    email address registered on your PayPal account and the ID number of the
    claim PP-415-672-424. This will allow us to attach the document to the
    claim as quickly as possible.

    Please ensure we receive your fax documentation within the next ten days.
    Your claim will be cancelled if we do not receive your fax documentation
    within this time. We cannot grant extensions to this. Please note that PayPal is unable to reimburse you for any costs or fees incurred in
    obtaining the requested documents. Documents you provide may be supplied to the seller in your dispute.

    We apologise for any inconvenience this request may cause. As an
    internet-based business, we do not have the opportunity to review the
    relevant items and evidence in question. Therefore, we must rely on the
    documents described in our request to continue with the investigation of
    your claim.

    Thank you for your patience and co-operation regarding this matter.

    Sincerely,

    Alessio
    Protection Services Department
    PayPal, an eBay Company

    --------------------------------
     

    Attached Files:

  2. SunRa

    SunRa Recruit

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    This EA

    Just a note to start with... this appears to be an unlocked commercial product, and it's probably against the terms of sale to post it here or anywhere else!

    Looking at the EA code, it appears to be based on PipBoxer, or to use some components or logic from that EA.

    Is there a particular currency pair that this is supposed to work with?

    Check for these basic things:
    Does your account have enough equity to work with this EA?
    Do you have enough free margin?
    Does this EA try to use mini or micro lots, but your broker does not allow these?

    Check the Journal tab to see if any errors are being reported.

    It does work in the strategy tester backtesting.

    I've attached it to a chart on a demo account, I'll let you know if anything happens
     
  3. Pharaoh

    Pharaoh Colonel

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    It looks to me like PayPal has gotten confused. Your complaint is that the EA is failing to work as advertised, right? They seem to have sent you a generic message that would be used if there was a question regarding the authenticity of the item.

    The first thing I'd do is write back to PayPal and carefully explain that although the item may or may not be a ripoff from another EA, that your dispute is that it is not working as the advertiser claims it should and thus you want a refund based on deceptive advertising and failure in performance, not lack of authenticity.
     
  4. SunRa

    SunRa Recruit

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    The EA works

    I applied it to GBPUSDon 1H, and it took a trade:

    sell 2.0119
    TP 2.0076 less than an hour later!

    It modifed the order a number of times, so it seems to work OK
     
  5. Pharaoh

    Pharaoh Colonel

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    That proves that it can work on at least 1 trade. Any EA (or other system) will win some of the time and lose some of the time. The question is, does it even have the slightest chance of working anywhere close to the level advertised, or is it just a one way ticket to a margin call?
     
  6. CyberG

    CyberG Recruit

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    Re: Paypal Dispute regarding Forex-Trader 1.0

    Hello All:

    First, I so much appreciate the response that I have gotten from everyone and this has been very useful to me. Thanks!

    Secondly, I had been asked by Paypal to have this checked by someone else of course, pay for the service by someone who helps check it out. I personally do not know anyone here around me I can meet face-to-face for evaluating this EA. So, I figured I would ask for help here and I am not sure there is any other way to get this out than to post it for people to help. I hope I am not violating the forum rules but I paid for this and it did not work for me.

    I asked for my refund and the seller said 'Sorry to hear that....' and I did ask for this about 2-3 days after the purchase.

    Well, I have written back to Paypal and see what they say next.

    Thank you all for your help.

    CyberG.
     
  7. CyberG

    CyberG Recruit

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    Re: Paypal Dispute regarding Forex-Trader 1.0

    After my last post, I have been thinking if someone could help run the strategy tester and make an opinion of this EA. I will then send same to Paypal.

    I did run the strategy myself and the results were ridiculous on the GBPUSD with a profit of $3522 and a loss of $3224. But Paypal wants this done by a third party and not myself.

    They want me to send this within the next 2 days or so as they gave 10 days for this to be resolved.

    I will appreciate your quick response sent to my email: adeyenuwo@msn.com

    Thanks for your help.
     
  8. Fantomas

    Fantomas Private, 1st Class

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    Fantomas on "Robots from hell"

    Hi CyberG

    Words of caution - do not purchase any EA's, robots or "whatever" unless the author backs the product by a guaranteed refund via (preferably) clickbank.
    The usual trial period is around 8 weeks.

    The EA in question seems to be a "pipboxer" derivative or an ....... v ?


    :shocked:
     
  9. Cyclon

    Cyclon Company Representative

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    Just be careful with Copyright

    heh cyber,
    Just be careful with Copyright as mentioned already.

    You could do worse than learning the truth about automated success. The author could bring you out onto his legal high-ground.

    People have asked me why I don't EA my supertradesystem and it is a simple answer. If there really WAS a software solution to the complexities of the markets EVERYONE would have retired already.

    Cheers,
    Cyclon
     
  10. CyberG

    CyberG Recruit

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    Forex EA

    Hello...I am just checking back to see if there are results as per the EA Testing. Your help is much appreciated.

    Thanks.
     

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