(2% Daily EA by Richard Swaby)

Arijit Ain Das

I purchased the 2% Daily EA on the basis of the outrageous promise (2% Daily) made by Richard Swaby in his website "". I bought this automated expert advisor on 5th Jan, 2011. I had no issues installing the EA and getting up and running. But after weeks of testing with his recommeded broker, I found that the promises made are not true. I exchanged numerous e-mails with Richard and he promptly replied back every e-mail. As I was not getting the results as per his promises, Richard kept sending me upgraded versions and insisted on trying with the newer version. I exactly followed his instructions and kept all my trading records and mailed him on a regular basis. After weeks of trying, I asked for refund. Richard replied back and said he understands my reason for asking refund, but he had some issues with Paypal that he had to sort out and asked me to wait for 3 more weeks. I eagerly waited for 3 weeks and came back to him asking for the refund. Richard now started playing games and said that his issue with Paypal was extended and he cannot do anything before another 180 days. He said as a compensation he was attaching a list of downloadable links containing over 500 forex products worth $1,000's (which I think are mostly illegal stuff).

I kept every single e-mail from him with my replies and trading records but I'm not sure yet how to pursue this legally as I'm in United States and I guess he lives in UK. Also I found out the source (from google) from where he stolen the indicator that his EA uses. The product PDF also uses a copyrighted image from another source.

Anyway, I wanted to warn buyers so that they do not fall into his trap as I have.


Arijit Ain Das


Brigadier General
If anything on his site or that he sent you by email links to what you suspect are illegal copies of forex products, the very first thing you should do it notify as many of the copyright owners as possible.

Forward the correspondence to PayPal and ask them if there is a legitimate reason why he can't refund you. They might also be interested to see what sort of links he's sending out to clients.

Visit and file a complaint there. If you can verify the links he emailed you are to pirated copies of forex products, go ahead and notify Scotland Yard in the UK too.

Don't publicly post any links to pirate sites here or in any other forum - even if he sent them to you. That only gives free publicity to the pirates.


A friend of mine had the same experience with "2% daily" - no refund. He let me try this EA on my demo, and after a few days I could see very clearly that it is simply rubbish. The entries it generates are just idiotic in most cases. The EA produces losses in a very steady manner. Stay away!


In the vast majority of cases, the PayPal guarantee is useless when buying software!

Once you download a product, it has been delivered, so as per the PayPal terms, it is not covered!

For software, if it ain't sold by ClickBank, don't buy it!

With a lowlife, scumbag vendor like Swaby you will find that they will not sell via ClickBank - PERIOD!

They know that it is ClickBank giving the guarantee, not them, so they have no choice but to return a customer's money!

With ClickBank, a vendor does not receive any payment until after the guarantee period.

I am not sure, but I think with PayPal, the vendor's account is credited as soon as the sale is cleared.

Just the fact of having the money in their account, makes a vendor more reluctant to honour any guarantee they make.
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Private, 1st Class
I haven´t been in reading in the scam alerts folder for months.
Richard Swaby refused to refund me too for the useless 2%dailyEA.

After FPA helped me, Swaby was taken before the FPA traders court
where he defended his scam mentality which is terrible.

He never intended to refund anybody. The 100% satisfaction guarantee and 60days-money-back guarantee on his website were only lies to deceive potential buyers to send him the money.
That is what he confirmed.

He finally refunded me, but promised to never ever refund others.
He "defended" himself by calling FPA a scam.

The only way to get your money back from this scumbag is by legal steps
and that is difficult if you are not a citizen of the UK.

Please find the other threads about Swaby, there are some hints about bringing justice to this fraudster.