Hi, I paid USD1500 for their EA and I got scammed too. I also got scammed by the broker they use 2pipsforex.com.
So here's a combined review about ProfitabeFXEA (http://profitablefxea.com)
AND 2pipsforex broker (http://2pipsforex.com
Both are scammers.
DO NOT buy this EA and DO NOT open a live account!
I bought the ProfitabeFXEA for USD 1500, and I did receive the EA. In demo it works perfect, in live it drained my account in a couple of seconds (I lost USD 1875 in 5 seconds with 2pipsforex). I contacted ProfitableFXEA via Skype and the broker via email and asked for an explanation. They blamed each other. after asking more questions, they stopped responding anymore to my e-mails and skype messages.
The ProfitabeFXEA / 2pipsforex broker scam (http://profitablefxea.com/):
Who is this Billy P. Carroll
character. Is he the (fictious) person behind this scam? You can find him on Facebook:https://www.facebook.com/profile.php?id=100011208334727
and on Skype account: www.profitablefxea.com
I suspect some scam brokers like 2pipsforex and others having 'created' this probably fictious person and this 'profitable' EA to get people open live accounts with them and fund them. I suspect this is a very large global SCAM, where so called (fictious) people, different websites, social media pages, (lots of positive reviews from other fictious 'people') and brokers are involved.
They SHARE their investor passwords, so you can see their fantastic live results. But these profitable accounts belong to them and are non-manipulated. So you THINK this is very profitable, because you can log in via the investor password on their live accounts and 'see it for yourself'.
But as soon as you openend and funded your own live account, you basically threw away your money, because you cannot win. The live accounts of the brokers involved, are heavily manipulated. This EA ONLY works for them on non-manipulated accounts and demo.
I paid for the 'The ProfitabeFXEA'
After payment I received an email from them. I had to fill in an excel sheet with names and account numbers for their licensing. After that, they sent me the coded (=licensed) EA, that is bound to the accounts and names I supplied in that excel document. I set up everything and started trading in DEMO first. This went very well and very profitable. So it was time to switch to my live account.
I had opened a live account at 2pipsforex. This is the same broker 'they' use.
I funded USD 2000 via Neteller (screenshot 2)
Everything was setup, triple checked... Ready for a first Live TEST!
I set the minimum trade size to 0.01 and I expected to see that trades were not accepted, because of the too small trade size. (Their minimum is 1 lots, according to the broker)
Trade 1 was opened after a couple of seconds, lotsize 0.01. BUT...... a trade with lot size 5 was opened!
Within a split second the price peaked down, a SELL trade was opened (red arrow in screenshot), instantly
thereafter, price peaked up, hit stoploss, and 1875 dollars was gone. USD 125 was left. WHAT A COINCIDENCE....
So I contacted ProfitableFXEA (probably Billy P. Carroll) via Skype and the broker via email. ProfitableFXEA, told me to speak to the broker. The broker was pretty rude (Litsa Peters) and they blamed the EA. THEN they told me their minimum lot size was 5 Lots. They had opened a 'Professional 'account' for me with a minimum lot size of 5. Yeah right. I did not request to open such an account.
ONE day before this, I had asked them about the minimum and maximum lot sizes and Francine Walton from 2pipsforex answered me and told me that their minimum was 1 lot and the maximum was 1000 lots.
So the big question is.... WHY was a trade of 5 lots opened, when the EA wanted to open a trade with lot size 0.01. I EXPECTED the trade to be declined. I did NOT expect the trade to be opened at 5 lots.
Now they told me a 'standard' acount had a minimum lot size of 1 lot. When you open an account with 2pipsforex, they never ask you what type of account you want. They don't mention that anywhere on their site as well.
With only USD 125 left on the account, I asked them to switch it to a 'standard' account'. They did.
Screenshot 2 - EA opened a trade, price peaked down, SELL trade was opened, price peaked up, hitting SL.
I was done for the day. The next day, this morning, I tried it again with only USD 125 left and a lot size of 1.
The second trade the EA opened, went positive, but it was NOT CLOSED. So I tried to close it manually at +20 dollars. BUT the close was not executed. 2pipsforex prevented closing this trade.
The trade was 'locked'.
It took several seconds and during this time the price SUDDENLY
went into the opposite direction, hitting stoploss again, resulting in a $75 loss.
Now only USD 50 is left. I contacted them again and they do not respond anymore.
I've read some more stories on other forums about people having the EXACT same issues as I encountered above. (opening 5 lot trades, peaking to stop loss, etc.) So it is confirmed that 2pipsforex.cmo are a scam broker. They lock trades and actively do stoploss hunting in a very aggressive way.
Did someone take (legal) action or something else?
What I will do:
- Copy this review and start posting it on every trading / forex forum I can find. I will ask you to do the same, to spread this information.
- Link from Facebook and Twitter to this review.
- Report this fraud to Facebook, Twitter, Instagram, and probably other social media sites, where they have accounts.
- Invite the scammers to come here and react (they probably won't do that or they might 'disappear')
- Report this major forex fraud to Interpol, the FBI, regulators, and other authorities. I will create a full and complete document package with proof that I can send to them.
- Report this fraud to Neteller