FPA Introduces EA Performance Testing

[AsstModerator]

Does the FPA plan on continuing its testing of the USDBOT when its evident that its programing was all stolen from Forex Factory site, and pretty obvious that the person selling it is neither a trader or a programer, and just anouther internet marketer clipping stuff off the free forums to sell to the Forex market. I'm suprised that the members here are not more upset by this, the way they were when Richard Stevenson stole the programing for his Forex Magic Machine and tried to sell it for $149

Ken,

I've made some inquiries on this and am waiting to hear back.

I've heard the rumors, but haven't seen the proof yet. If it does turn out to be deliberately stolen, then the test will be cancelled and the company gets labeled as a scam. If it was purchased by the USDBot company and they didn't know it was stolen at the time, then I need to know if they've worked out something with the original author or not.

The good part is that cases like this seem to be slowing down some. I know of at least one where a company did purchase an EA they didn't know was stolen. When they found out, they worked out a deal with the author.

If you or anyone else has links to more information on issues like this, I'd appreciate them. Either post here or use the "contact us" button. Thanks!

 

[Ken Long]

123 Pattern EA @ Forex Factory

This is the Forex Factory thread the original came from. The opto123 is identical to the original USDBOT. By the first upgrade, to USDBOTV1U, he started to eliminate some of the user controls, and the second upgrade USDBOTV2 was a complete change, to what is most likely a completely different EA.

The original USDBOT and the opto123 both run a 25Kb file. The new USDBOTV2 runs a 6KB file. It also trades completely differently and runs on the M5 time frame.

Further, if you buy the USDBOT he tries to upsell you to the advanced version the USDBOT Adaptive. This EA was originally just a Stochastic oscillator and a trailing stop, nothing fancy or adaptive about it. It has also been upgraded from a simple EA that ran a 14 KB file to anouther skeleton EA that runs a 6KB file.

Next, if you buy the advanced version he tries to sell you a manual trading strategy based on his EA's basic programing. This comes as a "secret manual trading strategy" and a bonus trading strategy. Both of these trading reports, the as well as anouther excellent report, all on the 123 trading system, are offered on this Forex Factory link for free. Mark Trenton copied them word for word with all the original diagrams, copywrited them in his own name, or so his reports claim, and resold them as his own. I have written to the author of the 123 Chart System, Trenton's "Secret Trading Strategy" and he has confirmed that this is his work, and he had it published 4 years ago, so he can prove that it is his.

Regardless, you should upgrade your USDBOT to the newest version, I want to see how long it lasts. I'll bet it blows at least half the account before its 60 day trial is up.

You should also see the thread on 4XProject Is the USDBot a copy of Opto123 EA v1.1 from Forex Factory. They say they are finalizing a report on this and will be ready soon.

 

[Scam Investigations Committee]

Ken, thank you for moving this one to the front burner. The final report was sent to the FPA this morning.

Under the circumstances, we are declaring USDBot to be a scam. The Performance Testing Team has asked to be allowed to continue this test so that we can all watch when the Martingale strategy of the new version blows the account.


And for those complaining about a couple of the other EAs being tested, we are looking into them already.

 

[AsstModerator]

Here are four more new EAs for you to check out the tests on...

Elite Currency Trader

Forex Cash Evolution

FX Nitro

Pip Android


In case you missed it, USDBot looks like it turned out to be a scam due to software piracy. There are a couple of others that the FPA is checking into. The Scam Investigations Committee can't just slap a scam label on an EA as soon as a report comes in about a possible case of pirated software. If they did that, someone would get the bright idea to report every EA as pirated.

You can read the FPA Scam finding here...

USDBot.com Blacklisted by FPA

It has a link to the report from 4xProject.com if you want more details.

 

[mechtech63]

This is a crappy EA, bad communication and terrible performance...gonna get my money back. Can't believe all the hype and they were just petty thieves.

 

[mosesravoori]

Demo & Real

Somuch differnece as the server is different for both the trades.It is much filtered and normally 3-5 pips difference...

What difference does it make if it is demo or real?

 

[VirginFX]

Thanks to FPA

Thank you FPA for exposing USDBot for the scam that it is. Shame on FAPTurbo Expert Guide for recommending these scammers and taking commissions from them before even testing the EA. In my eyes, their reputation has been soiled and they must make amends.

 

[Adong]

USDBOT refund

Guys you better ask for refund asap. I asked for refund through Clickbank but USDBOT first refused. Only after I insisted, Clickbank notified me that it was refunded.

 

[Mcbenjamin]

Can't see link to EAs to test

Hi,

I'm being sent mails about new EAs to test but can't see the link to download these EAs. Could you please point me in the right direction?

Regards.

 

[Ken Long]

Thank you FPA for exposing USDBot for the scam that it is. Shame on FAPTurbo Expert Guide for recommending these scammers and taking commissions from them before even testing the EA. In my eyes, their reputation has been soiled and they must make amends.

Worse is that they've made no attempt to notify any of their subscribers of this, even though I kept them informed from the begining. At least they did put up a bonus. I want to see if they still honor it after we all refund our purchases.