Morpheus FX Solutions/ TopBot/ David Rimmer

Greggybaby

Recruit
Messages
7
I hate having to do this, but I am compelled to stop anyone else having as shocking and unfortunate encounter with this company / individual as I have. Just for the record, I have never done anything even close to this before as I have never had any reason to.

In short, I am not a serial complainer but felt I had to do something.

I first found about this company and its CEO, David Rimmer, early on in my forex career.

The EA OddBot seemed to be doing quite well and when a new EA, TopBot, was touted as 'OddBot on steroids' was released I thought this would be great to invest in. The vendor claimed to have taken the engine of OddBot and produced a much better improved version.

Fair enough, the vendor gave a two week free trial and in that time TopBot EA did ok. In hindsight, I think the bot was probably curve fitted to perform in current conditions and not for the long term.

Lo and behold when I ran the bot for longer, it won a few trades and then took massive stop losses which were well on their way to blowing my account. The SL was at least 3x TP, more fool me for breaking the golden r:r rule but as I say it was early days.

I had to switch it off to stop this happening. Despite the manual stating that setting the money managment to '5' would risk 5% of account balance, the actual full stop losses were 6%+.

I emailed the vendor, who told me 'to be patient' and that the market conditions were not right. When I asked him more about exactly what that means I got series of vague answers with ever increasing lack of patience / customer service.

I got some vague e-mails saying the Euro crisis 'may' be causing problems and that users 'may' choose to stop using the EA. There was no explanation of when to reuse it or what sort of conditions would be favourable.

The vendor charges £50 each time a trader wants to change acounts, even a demo. I wasn't prepared to spend good money after bad so relied on the official accounts/ Birts review as I have a lot of respect for what he does.

First of all the vendor emails me saying that the myfxbook link would be taken down whilst he changed VPS. That was in June 2012 and has never reappeared. In any case, what has the vps got to do with myfxbook? And how long does it take / how complicated is it to change VPS?

I can only conclude the official account was either doing so bad he didn't want anyone to see, or he realised that he wasn't able to squeeze those £50 notes just for requesting a demo licence.

In August 2012 FPA started a test of OddBot. Granted, it did ok but the end result was that the test got a 'vendor gone fishing' logo, presumably as there was no response to queries etc.

Reference: Morpheus OddBot Metatrader Expert Adviser Test by Forex Peace Army

In September 2012 I got more marekting material regarding OddBot Pro. Given my experiences I was not going to get involved any more.

Then Birt (bless his soul) reported in November 2012 that MorpheusFX was cheating affiliates and that he was suspending his tests of both oddbot and topbot. He also stated that this vendor was using code stolen from Wall Street Forex EA and selling it on as his own. I cant comment as I am not technically savvy, but I know there have been numerous accusations of this by people who are.

Reference: Forex Software Tests | OddBot Live Forward Test | Birt's EA review

Morpheus Topbot live forward test | Birt's EA review

So, I had no way of knowing how TopBot was doing/ if it was improving etc without paying £50 for moving my licence. This is the only vendor I know of who charges such a fee and it felt stupid to pay for it.

In October 2012 a new version, TopBot2.0, was released. I started using the bot again on reduced risk settings, which kept crashing my VPS. The vendor distanced himself, saying some of the indicators are out of his control.

Next I get more marketing material, trying to sell the latest bots. No mention of TopBot on the website or MorpheusFX forum. EA totally abandoned.

This always left a bit of a sour taste in my mouth, so when I got all this new sales material this year I started picking up the trail, giving the vendor an honest recap of my very bad experiences and plenty of opporunity to either reimburse me or offer an alternative bot whcih works.

The conversation became more and more defensive, despite me being entirely honest and referencing the bad feedback from other traders to prove it wan't just me.

As I now stands, the vendor refuses to accept that he is selling a duff product and to top it off is very rude to customers and is now accusingme of insulting him. As I have said to him, if I have said anything dishonest then let me know and I will apologise profusely.

So there is it, I dont know if this will result in a SCAM rating, but at least I can say I have tried to warn others.

PS. more evidence courtesy of Donnaforex http://www.donnaforex.com/forum/index.php?topic=3147.315
 
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Greggybaby

Recruit
Messages
7
Looks like the fish on OddBot was for pulling out the money without notifying the FPA:

Morpheus OddBot Metatrader Expert Adviser Test by Forex Peace Army

What's strange is that there aren't any client reviews. Have you left one?

Morpheus Fx Solutions | MorpheusFxSolutions.com reviews and ratings by Forex Peace Army
ah right, i thought the gone fishing was when you tried to contact someone and they never replied..

I haven't left a client review but will now! I only just realised this rogue was active here recently.

Thanks
 

Pharaoh

Colonel
Messages
19,691
As I understand it, FPA testing typically tries to contact a company after a surprise investor password change.
 
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