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Forex Profit Copier - BUYER BEWARE

Discussion in 'Has anyone heard of?' started by iggyboo, Nov 8, 2012.

  1. iggyboo

    iggyboo Private

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    It appears that FPA hasn't started a thread for this new product yet, and after what I've found out in doing my own research, it became obvious that I needed to post this information before (hopefully) too many people get taken with this new product.

    Because it's not just the cost of the EA/robot/service that's the issue, it's the much larger cost of what that product does to your trading account, cuz most of us know that demo accounts help but it's just not the same as what happens on a live account ... and that's what really matters and where the biggest cost lies with trying all these products and services. Especially since most of these things seem to work at first, and then after the 60 day period ends and you wind up putting it on your live account, that's when things start to really go downhill and the end result is a busted account with no recourse to even get the product fee returned.

    So in doing my research on this latest newcomer to the field, I discovered that this product is not being offered by -- or was even created by -- a "Mike Foley" as the website insinuates but is in fact the creation of Greg Stefaniak who has a not-so-stellar rating and history with the FPA (do a search on his name and you'll come up with the various threads associated with him).

    In fact, that's the only way you can find this product on Clickbank is to put in Greg Stefaniak's name in the search box because using the search term "Forex Profit Copier" brings up no matching results at all. Which leads to the question, is the person in the video on the FPC site a real person or just an actor playing a role? My money's on it being an actor, just as the Megadroid folks used actors for their well known ads when their robot first came out. In fact, after reading about Mr. Stefaniak on this site, I have serious doubts if there's a real trader behind the copier software or if it's even a mirroring software at all but simply an EA, like what he pulled with his previous signal service that wound up with a guilty verdict here on the FPA site.

    And before I even found all this out, I sent in an email to his support address almost a week ago with a few basic questions on how his software/system works and he has yet to send a reply back. (I do this for two reasons: (1) to get my questions answered and (2) to see how fast they respond to support questions.) At this point I seriously doubt I'll get a reply back ... so there's that issue too.

    Of course this is still too new to give it a definitive 'yay' or 'nay' but since it appears that Mr. Stefaniak is hiding behind (what I consider to be) a fake persona, and given his previous tarnished history in the forex community, I'm keeping my piggy bank -- and my trading account -- as far away from him as possible.

    Just FYI folks ... buyer beware!
     
  2. Klem

    Klem Private

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    Thanks info info dude...
     
  3. Rasfi

    Rasfi Private

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    iggyboo, thank you for the head up, I thought purchasing this 'Profit Copier EA' by Mike Foley so was looking for some reviews. I was struck by the amount of SEO done for this EA in such short time of period. Google search engine is littered by bogus reviews and tons of websits promoting this product in an effort to bury any genuine reviews. That alone is a red line warning that the product has something to hide.

    And know I found out thanks to your research that it is actually a scam product. 'Profit Copier' by Mike Foley is a scam!!!
     
  4. Chrisstoff

    Chrisstoff Recruit

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    Iggyboo, Thank you for the valuable information. "Mike Foley" even offers $20 discount from the list price :D I was thinking about purchasing a copy of this one when I found your post and I changed my mind at once.
     
  5. pboo

    pboo Recruit

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    I bought this only because of the clickbank money back guarantee. I was very sceptical from the beginning. Rightly so. I used a live account with a 0.01 lot size. First 3 trades all losers -50, -15 and -30 pips. I actually closed the last trade manually because I wasn't prepared to lose more than 100 pips in a few hours. Refund request went in shortly after, which was quickly paid back. So it cost me a little over $9. It was everything I thought it would be. Don't bother.
     
  6. davidjmp

    davidjmp Recruit

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    Not sure what has happened as no trades since 12MAR13. I hope that he is just staying quiet because of recent market unpredicatblity but I have found whoever is on the other end to be a good trader. I have been running from 9NOV12 till now.

    Always trades 0.1 Lots. It tried to test live with 0.01 lots but it seems locked to 0.1. Only trades EURUSD. Made a profit of 375 PIPS in that period. 64 trades only 13 loosing trades of 0.30cents to a max of $17.00.

    I am convinced this is a manual trader and for me he has proved himself. The Trade copier says it is still working, I hope the guy who has been doing the trading has not stopped and will resume trading soon.

    Five months and I would give him 5 stars, better than any EA I am currently running.
     
  7. Equalizer

    Equalizer Private, 1st Class

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    Gone with the wind?

    I notice that the copier doesn't even work now. I get an error message of invalid or expired license number. When I go to his web page it has been cancelled due to non-renewal. The actor in the video was quite convincing, but, nevertheless, apparently still only an "actor" in the end.... :mad:


     

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