• Please try to select the correct prefix when making a new thread in this folder.

    Discuss is for general discussions of a financial company or issues related to companies.

    Info is for things like "Has anyone heard of Company X?" or "Is Company X legit or not?"

    Compare is for things like "Which of these 2 (or more) companies is best?"

    Searching is for things like "Help me pick a broker" or "What's the best VPS out there for trading?"

    Problem is for reporting an issue with a company. Please don't just scream "CompanyX is a scam!" It is much more useful to say "I can't withdraw my money from Company X" or "Company Y is not honoring their refund guarantee" in the subject line.
    Keep Problem discussions civil and lay out the facts of your case. Your goal should be to get your problem resolved or reported to the regulators, not to see how many insults you can put into the thread.

    More info coming soon.

Discuss ForexKore.com

General discussions of a financial company
A closer look between the FPA and FXBlue account summaries show they are monitoring the exact same account. It is a penny account so actual amounts shown are 100x more than was really traded. Perhaps the FPA version doesn't have the latest update?

So the FPA monitored account is indeed dead, unless they want to refund it and start again.... sad.
 
hi guys just to let you know this robot sucks it lost a 5000 dollar account. I cant even get back my money when i ask for a refund. they gave me a email that send myself back a email all kinda ****. iam happy they failed there test at fpa. I also think something is up with fpa to anyway. but forex kore ea they are out to scam people. bye.
 
Appreciate the testimony, but FPA has been here a long time and they are a sound organization.

I lost money with this, about half of a 5k account as I described, but I'm still using it. Call me stupid, maybe, but it did perform quite well for a year before blowing out, and reviewing the account, it's apparent that the EURGBP did a near impossible slow, steady & long term price gain which breaks any martingale type strategy which this one is. All other pairs did great.

Every trading strategy must have an Achilles heel. Otherwise, it cannot make money. It's easy to throw something away when it hurts you but as with any workshop tool, any EA or strategy can hurt you.

Since losing money, I've made 3 changes: #1: Moved from a normal forex account to FBS.com's penny account, so I can drastically scale down the leverage by a factor 100 with the same deposit. (To their credit, ForexKore does even recommend them for thear EA) #2: Do not have it trade any GBP pair, as Brexit politics can send the GBP pairs spiking long and hard, discussed previously; #3: Vastly reducing risk, made possible with the penny account, so that any such instances should be survivable. That means being happy with 5-10% gains per month and give up the dream of 10X gains over 1 year as was shown on the FPA account.

Since then, it's performed well and is in profit at this time. This week has been particularly good.

FBS also offers a number of bonus incentives which are appreciable.

For this strat, I recommend trading with a minimum of $1000 in an FBS penny account or $100,000 in a standard account. ForexKore recommend $50 or $5000 accounts respectably, but I think that's too low to do safely.
 
I'm continuing to work with ForexKore with good results. Since switching to FBS for their penny account, and ironing out some problems I've had, including the EA not wanting to restart after changing inputs, and getting through my own setbacks which were purely my own fault, and adding some things to better track pairs in distress, all's been going good. I've so far recovered about 65% of my losses from my previous broker where I lost a lot -- in 2 weeks -- with this EA. If things continue at the rate it's been going, I expect to recover in full the prior losses in a couple more weeks.

It requires care, and an experienced hand, perhaps, but it seems it can work. It's just not the kind of thing you plug in and let run unsupervised, I guess. That's probably true with any and all EA's.

And no, I don't work for the outfit that made this EA, or have any relation or communication with them in any way, other than having purchased the EA from them.
 
I received an interesting email. What I noticed so more people received this the email. Probably dissatisfied customer. I'm not surprised when I checked it.

Forex Kore EA Real Account: https://www.forexpeacearmy.com/h/forex-strategies/1510/forex-kore-ea-ea-performance-test

Warning! Forex Alpha EA is same as Forex Kore EA. Forex Kore EA real account completely burned down and same vendor decided to change the name of EA and sell it under a different name EA. I take this as a blatant scam against customers.

Forex Alpha EA.jpg

Forex Kore EA.jpg
 

Attachments

  • Forex-Alpha-User-Guide.pdf
    509.6 KB · Views: 8
  • ForexKoreEAUserManual.pdf
    516.8 KB · Views: 9
Seems a slam dunk that it's being marketed under a different name. This review site states as much.

https://www.bestforexeas.com/forex-alpha-ea-review/

I get the sense whomever is selling it didn't actually make it. That would explain the reports of there being no customer support on the product. I also think that whomever ran the live account that's reported on FPA had no sense of risk management. It seems the product is good though, as long as it's in capable hands. My FBS account using this EA is up about 34% overall in about 7 weeks time, averaging abut 4+% per week. I do monitor it closely and have intervened once as it built up some deep trades -- though it would have been fine, in hindsight -- and the advice about pulling out profits frequently is good advice, as is the advice to only use FBS's penny account o another broker that allows much smaller lots sizes to be placed.
 
Seems a slam dunk that it's being marketed under a different name. This review site states as much.

https://www.bestforexeas.com/forex-alpha-ea-review/

I get the sense whomever is selling it didn't actually make it. That would explain the reports of there being no customer support on the product. I also think that whomever ran the live account that's reported on FPA had no sense of risk management. It seems the product is good though, as long as it's in capable hands. My FBS account using this EA is up about 34% overall in about 7 weeks time, averaging abut 4+% per week. I do monitor it closely and have intervened once as it built up some deep trades -- though it would have been fine, in hindsight -- and the advice about pulling out profits frequently is good advice, as is the advice to only use FBS's penny account o another broker that allows much smaller lots sizes to be placed.

You just don't realize you bought Forex Hacked Pro which is free on the Internet.

http://forextraderportal.com/robot-forex-hacked-pro/
 

Attachments

  • Forex Hacked Pro.zip
    45.5 KB · Views: 13
You just don't realize you bought Forex Hacked Pro which is free on the Internet.

http://forextraderportal.com/robot-forex-hacked-pro/

Whole-Lee Bananas!!! Thank you for this. It explains everything. And it actually makes me feel much better about the EA since it's performance has nothing to do with whoever is or was marketing and poorly servicing customers as "Forex Kore". The link you posted comes with fair warning and matches my own assessment of the EA as something that can work well but which does require monitoring, care and proper risk management and is not without risk. The Kore people overleveraged their FPA monitored account because they don't understand risk management (or just wanted to attract lots of attention for sales, not caring so much about risk) which contributed to the account blow-out, albeit first with huge growth.

The one piece of advice that is good though is to use it with a sufficient account balance. If you "only" have $5K USD to trade with, use FBS.com's penny account which let's you scale back the risk settings far below the normal 0.01 lots as a min trade. (The FBS.com penny accounts treats each penny as $1, so a $5k deposit reads in MT4 like a $500k deposit, so trading 0.01 lots is actually trading 0.0001 lots of real money).

So the "Forex Kore" operation is a scam but the EA is what it is and does not belong to them.

This info should be posted as a review here on FPA. Thanks again!
 
Back
Top