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Grand Theft EA

Discussion in 'Scam Alerts' started by Scam Investigations Committee, May 12, 2009.

  1. Scam Investigations Committee

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    How would you like to pay for one EA and find that what you get is an overpriced and illegal copy of another commercial EA? Worse, how would you like to pay good money for an EA and find it's an illegal copy of a free EA.


    That's what two of the newest EAs on the market seem to be – pirated versions of other EAs. We've seen accusations like this before, but this time there's some very solid evidence to back up the accusations.

    Both of these were brought up in a pair of reviews left by Kev from New York. One of our review moderators pointed these out to FPA's AsstModerator, and he contacted the sites that had evidence as well as the original sources of the EAs.

    One of these pieces of software is EA-Boss. It seems to be virtually a line-by-line clone of FapTurbo, but costs a lot more (currently $699 vs $149). BestForexEA's site shows just how identical the code is. FapTurbo's abuse team also confirms the code shown is genuine. If you've bought this pirated piece of software, we suggest you to contact Plimus and request a refund immediately.

    The other is TheForexMagicMachine. This seems to be a reverse-engineered version of a free EA available from TradingSystemForex. Some things in life really are free – but that doesn't give someone else the legal right to rename and resell them for a profit. BestForexEA's site shows the code similarities, and 4xProject's site shows identical backtests once the settings from the free version are synced up with the copied version. Just to add an additional unethical advertising bonus, the website promises free lifetime upgrades, but purchasers are then offered an upgraded version for more money – that version is also copied from a free EA from TradingSystemForex. If you paid your money for this pirated software, you can apply for a refund at ClickBank.

    The FPA had acquired versions of both of these for our Performance Testing. Under the circumstances, we plan to stop the tests today. The results for the time they were running may be left available, but no further forward testing of this software will take place. This decision will be revisited if the owners of these websites can prove that this was all just some sort of misunderstanding.


    We wish to thank Kev, the FPA's Review Moderators, FPA's AsstModerator, Donna Forex, FapTurbo's Abuse Team, TradingSystemForex, 4xProject, and BestForexEA for their contributions to this article. We hope the owners of the copyrights on these pieces of software us all legal means to seek civil and criminal judgments against those who broke copyright laws.


    Official Scam Finding

    TradingSystemForex.com Thread on Forex Magic Machine

    4xProject backtest of Forex Magic Machine

    4xProject backtest of free Vforce EA Showing Identical Results to Forex Magic Machine

    BestForexEA research on Forex Magic Machine

    BestForexEA reasearch on EA-Boss
     
    #1 Scam Investigations Committee, May 12, 2009
    Lasted edited by : May 22, 2009
  2. zoomzoom

    zoomzoom Recruit

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    Good job. Thanks a million.
     
  3. Cyclon

    Cyclon Company Representative

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  4. PipMonger

    PipMonger Private

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    Good Job!

    Actually, I have never even thought about this happening.
    Thanks to all for bringing this to our attention!

    Good Job!
     
  5. theluckyseven

    theluckyseven Recruit

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    death row

    for the scammers!!! my money is not your toy! :shocked:
     
  6. Notdeadyet

    Notdeadyet Recruit

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    Waiting for the truth

    OK. I got sucked into purchasing the magicmachine(s)... After some research I found the threads about the vforce like EA. I immediatly thought about getting my money back. They may have backtested with the same results but I am forward testing them and they (magic machines) trade differently than the vforce like EAs. I am still on the fence with respect to returning the magicmachine(s). As I said they appear to be trading differently. Before we insist on burning the witches, let then speak on there behalf.

    If it was a blatent theft, they deserve to be outed and of course I will get my money back from clickbank.
     
  7. SSW

    SSW Recruit

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    You're doing something wrong...

    Because I followed the instructions for VForce 1.1 here The Forex Magic Machine | TheForexMagicMachine.com reviews and ratings by Forex Peace Army, added the .set file, and got the same trades.

    People have been showing up in that vforce thread asking how to load the ea on metatrader, nevermind apply the correct version and settings, so it doesnt surprise me to read something like this, but just my 2 cents. Please dont take offense, just an experience thing.

    On ethics alone, I would get your refund. These are the same guys that brought you 'Forex Maestro' which is a mod version of the Firebird (free) EA also found on forums.

    By the way 'magic machine' is 'sold out' tonight. Surprise surprise. As if that doesnt tell you something.
     
    #7 SSW, May 13, 2009
    Last edited: May 13, 2009
  8. Notdeadyet

    Notdeadyet Recruit

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    Thanks SSW

    Thanks for your 2 cents SSW. I am using vforce like ea v1.1 eu h1.set and vforce like ea v2 eu h1.set for my forward testing. The trades are different between the EAs (vforce like EAs and magicmachine EAs) in my demo account. Are these the .set files you are indicating?

    Another issue with the magicmachine EAs which I have uncovered is that they show multiple pairs in the statements but the EA does not allow the magic number to be changed. It is impossible for the EA to properly manage multiple open trades on multiple pairs.
     
  9. SSW

    SSW Recruit

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    No problem. This guy's post:

    Magic Machine EA - Page 2 - Trading System Forex

    should explain it.

    Magic number wont make a difference from pair to pair, so yeah you can run it across the board......EA logic tells it to close positions by symbol+magic number. BUT this EA is not ready (hasn't been optimized) to trade anything other than EUR/USD. The website results are a fluke to get you to buy it.

    I found it went through plenty of streaks taking quick profits on other pairs in backtesting, but the bad risk reward crashes your account after a while simply because its not ready yet. Out of the box nothing other than EUR/USD. Funyoo, the creator, has been running v2 live in a demo account for a while and others pairs not showing the best results, for a number of reasons. Read the threads about the EA (there are 3 I think) and you'll learn why. Search the forum for vforce and you can see the demo statements.
     
  10. PistolDave

    PistolDave Corporal

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    It's fairly common


    Actually, it happens a lot. There are some guys that are very good at copying EAs and selling them as their own. On a website they create or on ebay. It sucks.:unhappy:
     

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