Fx Super EA : Sergey Shirin - Outright fraud!

szendro

Private, 1st Class
Messages
82
I naturally cautious when looking at EA'sfor obvious reasons but was intrigued by Fx Super EA which is created by and marketed by Sergey Shirin. The reason is that on the website investor access is given to several live accounts over a reasonable control period. The results look impressive so I shelled out my 255 USD to buy a copy. When received I was a little confused because I was sent the source code MQL4 file and not the executeable EX4 file. I was then disappointed because there was no user friendly intsruction manual to be found anywhere, just a short list of very confusing instructions in the email obviously written by someone who had only rudimentary English skills.
Looking at the instructions I was not informed of the timeframe nor currency pairs to use with the EA, so I emailed back Sergey to ask. He obviously did not understand the question, so I tried emailing again using the simplest English possible. This time I was told "the majority of currency pairs on M15 or M5". Well I had to ask myself which currency pairs can I use and which can I not ? Which ones use M5 and which M15, or both ? I could not face another exchange of emails so I tested EUR/USD and EUR/CAD (as used in investor access account) on both timeframes. I found that I got an almost perfect staright line equity curve in both cases but unfortunately they were negative. I emailed Sergey. Apparently I needed to multiply 3 parameters by 10 because I was using a 5 digit broker (with hindsight I can see that this was in the instructions but did not understand the English). This puzzled me again because within MQL4 there are instructions which allow you to check the number of digits used by the broker automatically. Oh well, I did as instructed and multiplied the 3 parameters by 10. The results were the same - perfect negative straight lines.
I emailed Sergey asking for my money back. He became very abusive and said that I wanted the EA for free. He also said that I needed to optimise the other input parameters (even though no guidlines are given on how to do this).
I looked closely at the results from the investor access account again and noted that there were many cases of pending orders being "cancelled". I looked at the code of the EA sent and found that they were no instructions to cancel pending orders. I emailed Sergey and told him that the EA he had sent me could not possibly be the EA that is used with the accounts giving investor access because of the aforementioend functional difference. Sergey became very abusive, but then (I guess realising what I had pointed out) sent me a "variant" of the EA he had that did indeed cancel pending orders. This did not perform any differently to the original version.
I emailed Sergey again and again to give him a chance to send me the real EA that he is using on the investor access accounts. He just kept saying that I needed to optimisse the settings. Time and time again I asked Sergey to send me the optimised settings so that I could get the same good results as shown on the investor access accounts. Sergey eventually said that he has to provide the settings for his customers on a monthly basis. Ok I said, you must have the settings for January or February, so send me those and I will do the Strategy test. Sergey did not answer any more.
So how does this scam work ? No how does the fraud work ?
I think I have found the answer: there is another company which has an EA which seems to give very similar results as shown by the investor access accounts on Sergey's website. But they do not sell it, instead they give access to their trades for free via an EA trade copier and in return collect pip rebates via an IB agreement.
Curiously both brokers used by Sergey (Pepperstone and Alpari) are 2 of the 4 brokers offered by the other company. I thought I had seen it all !
 

Attachments

Last edited:

Pharaoh

Colonel
Messages
19,691
How did you pay for this? Paypal, credit card? Was there a payments processor like regnow, clickbank, or Plimus?
 

szendro

Private, 1st Class
Messages
82
Hello Pharaoh,
I usually only use Paypal because of security of transfer and payment protection in case of issues. However the vendor did not accept Paypal; only credit cards and a list of financial intermediary companies such as Liberty Reserve. I am always wary of using credit cards for payment over the internet so I opted for Liberty Reserve. The downside is that Liberty Rserve could not givea tinker's cuss about issues after payment; infact there do not have a method to complain.
 

Pharaoh

Colonel
Messages
19,691
Go ahead and complain to LR. This won't get your money back, but there have been cases of LR locking down a company's accounts if enough people complain.
 

szendro

Private, 1st Class
Messages
82
Hello Pharaoh,

thank you for the advice.
I am processing this as a scam and hopefully if this is sanctioned I shall use the credibility of this site as a lever with all the credit card companies to try to get the financial processing facilities cancelled with this fraudster.
 

szendro

Private, 1st Class
Messages
82
Hello Pharaoh,

last week I filed a court case about this fraud but when I visit the court case preparation folder I receive a message denying me access. Please could you investigate.
 

Pharaoh

Colonel
Messages
19,691
I don't see one in there. By "filed" do you mean submitted a review under "I've been scammed and I can prove it", or did you fill out the long and annoying Court Submission form? If only the former, you still need to do the latter.
 

szendro

Private, 1st Class
Messages
82
Hello Pharaoh,

just sompleted the form again. Last time after completion the screen just went back to prparation screen without any conformation. This time I got a conformation screen, so all should be OK now.
Thank you for your help with this fraudster. Hopefully we can stop furture people being rippd off.
 

Pharaoh

Colonel
Messages
19,691
Open the Court Case Preparations folder. If you are logged in, you should be able to see your case.
 
Top