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Pips 4 Idiots = pure scam (beware)

Discussion in 'Scam Alerts' started by Lambsi, Dec 6, 2010.

  1. Lambsi

    Lambsi Recruit

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    Hello all,

    Just to warn you about Pips 4 Idiots. As it is late and don't want to make a long email, here is the email I have just recently sent to one of the (many) affiliates promoting this piece of garbage:

    "Hello Xxx,

    F. here. I am one of your follower and I have to admit I have rarely been disappointed by your tips, advices and recommendations.
    Until now... It seems that we are inundated by all kinds of crappy expert advisors constantly. "Customers" are easy to catch with promises of easy money. And so I understand that the prospects of earning a few bucks in promoting those crappy piece of "software garbage" can be somehow attractive to unscrupulous people who earns money in affiliate marketing and not by trading the Forex.
    Xxx, you have a reputation here. Don't destroy it!
    I have just acquired Pips 4 Idiots (which you are blindly promoting below) to prove to you my point. This EA is pure crap (as I already sensed when reading the sales pitch... always the same). Even the so-called live statements are doctored (so many "live accounts" with the same date, time and references for the initial deposit... come on). I have attached the decompiled versions of the file for you to see. It is as basic as it can get. Where is the "patented 'Adaptive' trader technology"? (how can you patent some lines of code by the way?). This EA was supposed to - somehow - connect all "traders" together and learn from mistakes, etc. blablabla... Well, a quick look at the code will show you how painful this scam is. The "creator" of this EA didn't even bother to create a protection for his EA. You can share it to anyone. He didn't even bother to encrypt the lines of codes. 11kb for such a "complex" EA. Please Xxx... And even the so-called "advanced" version is just a copy-paste of the classic version with different settings. You have a duty to let your subscribers know about this. I will not go into all the blatant lies presented on the Pips4Idiots website but someone needs to take action to bring an end to this insanity. Naive and fragile people are even putting their life savings into these scam!
    Please have a look at the files attached and please use your large audience reach to notify people of this scam. I'm sure you'll do the right thing!
    Thanks in advance, and keep up the good work!
    F."


    So, I know that in this Forex world words mean nothing, so I have attached the decompiled files for Pips4Idiots for the world to see... It was all but just a big lie (again). Please be very careful with all these very well crafted sales letter. They will make you buy crap in golden paper if they had enough for everyone...

    Cheers,
    And Long Live Felix!

    F.

    AsstModerator Note: The attachments have been removed. Do NOT ever under any circumstances publicly post copies or code from any commercial products in the forums without permission of the sellers. Doing so is a violation of US and international copyright law.
     
    #1 Lambsi, Dec 6, 2010
    Lasted edited by : Dec 7, 2010
  2. Busybee330

    Busybee330 Private

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    Hi Lambsi

    Thank you for that post . I have also been contacted by 2 guys who I thought were "reliable", both advising to buy that EA . Looks like they are more interested in affiliate money than in saving their reputation :unhappy: .

    Thanks again
     
  3. blivera

    blivera Recruit

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    Thanks Lambsi ... my email account has been bombarded about this EA, and of most concern is that it's coming from a few who I thought should know better, and they harp on themselves about not being tricked by "marketers".

    Will be deleting all messages about Pips4Idiots ... maybe the name should be a warning in itself! :)
     
  4. Fede90

    Fede90 Private

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    Did you ask for a refund?
    Before saying it's a scam, try it on you demo account like me .Did the affiliate answer to you? Let us know his answer cause what you wrote it's nothing till now.
     
    #4 Fede90, Dec 8, 2010
    Last edited: Dec 8, 2010
  5. EarnBigBills

    EarnBigBills Private

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    Hi guys, thanks for your input about Pips4Idiots, but I bought it anyways (since I can easily get a refund, I decided to put it to the test)... Well that's what I wanted to do, but I realized that it wasn't even worth it. Here's the message I sent to Clickbank to get my refund :


    It is not the first time I buy a Forex EA, test it, then request a refund for it. If they would actually perform like stated on the sales page, I would have probably bought just one instead of 16 in the last 2 years. Now, this one is one of the worse I've ever seen. Why? because it's nothing but a big marketing hype. If it would really be worth what's its claimed to be, they wouldn't waste their time trying to sell it, but simply make their money by using it.

    But what frustrates me the most, is that after you buy the 1st product, you get like 5 different Upsell products that makes you believe that if you don't get them, you're not taking the full advantage of the system. So I did, I bought each and every one of them (except the VPS because I already have one), to see what the fuss is all about.

    So 1st, you're offered the Pips4Idiots basic system (not even a hundred lines of code, 12 Kilobytes to be precise)
    2nd is the monthly subscription to get the "system updates" (as useless as the robot itself I presume)
    3rd is the Pips4Idiots Advanced <-- a slight difference in the way it trades, but still a crappy EA
    4th is the Pips4Idiots Unleashed indicator (nothing else than an arrangement of moving average, pivot point, and s&r lines with a fractal arrow to point out the buy & sell signals

    So, I decompiled the pips4idiots basic and the pips 4 idiots advanced to see what the difference would be and the only thing I found was these few lines of code :

    Pip4Idiots basic:

    CODE REMOVED

    Pips4Idiots Advanced:

    CODE REMOVED

    I would appreciate if someone could explain what difference these few lines makes.

    But All I can say, is that it's not worth it.

    AsstModerator Note: Please do NOT ever post code from commercial systems, even if you feel these systems are scams.

    A simple statement about how many lines of code were in each version would be enough to show that this is a very simple EA that can't possibly have any significant advanced features.

    This is the second time I have removed decompiled versions of this software from this thread. Please do not make me have to do it again.
     
    #5 EarnBigBills, Dec 8, 2010
    Lasted edited by : Dec 9, 2010
  6. EarnBigBills

    EarnBigBills Private

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    Oh ya, and the crap about the fact that it learns from other peoples mistake, that all BS...
     
  7. capsmart

    capsmart Private

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    I also noticed concerning this EA that the standard settings are 20 pips for take profit and 500 pips for stop loss.
    So I believe the logic is that price will sooner or later pull back because 500 pips movements are not so often, especially on eur/usd that is the pair to trade. So you might be looking for a trade to recover for 3 weeks before hitting the stop loss. Otherwise if lucky you could be making 20 pip trades, apparently when a strong trade is present.
     
  8. alvin050

    alvin050 Private, 1st Class

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    Pips4Idiots United

    These are some of the people who emailed me to market the Pips4Idiots EA:

    1) Forex AutoCash Team
    2) David Morris
    3) Jeff Osborne
    4) John Wilson
    5) Brandon Spectrum
    6) Forex Systems Truth
    7) FX Reviews
    8) Forex Pips Team
    9) Steve Goodwin > what a joke, he just finished selling his own crap, now he's busy promoting another
    10) International EA Competition
    11) Kumar Kaushal
    12) Forex Police
    13) FX Trading Bots
    14) Matt Delen
    15) Nick Lombardi
    16) Justin Perez
    17) Steve@turbopipsniper
    18) Mark McRae > what a surprise, not!
    19) Joe Jamieson
    20) Martin Alexander
    21) RobinHood-FX-Daniel Malaby > this Robin Hood certainly does not steal from the rich to give to the poor
    22) etc, etc

    There's nothing illegal about marketing a piece of utterly useless though potentially harmful trash which you probably would not use yourself. Perhaps you would only suffer a slight abrasion to your conscience, but also incur a fatal blow to your credibility in the FX community. Your choice.

    Meanwhile, for the innocent curious or hopefuls who did purchase the product and its myriad upsells, please keep your refund requests coming.
     
  9. Carl Tryggestad

    Carl Tryggestad Recruit

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    Pips 4 Idiots

    Hi everyone, I have to admit that I fell for some of the hype and the only reason that I bought was because of Clickbank's reputation of refunding for products that don't work. This time however they are resisting as you can see by my answer to them earlier today (text in red).

    To Whom it may concern: I have already explained twice and this makes the
    third time now that I want a refund and will not trade using this EA. The
    risk (500 pips) to the reward (20 pips) is absolutely ludicrous. Did you
    state this in your advertising up front? If not do I need to submit this in
    to the NFA, CFTC or the FTC for false advertising claims? I don't think any
    of us want more government intrusion into our lives-this industry needs to
    police itself. Govern yourselves accordingly. Carl
     
  10. shawie1969

    shawie1969 Recruit

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