Discuss sPhantom.com

[gombosg]

Oh yes, this EA just tanked 3 days after my purchase and wiped out some of my account.
Refund denied, they are running with their money.

On myfxbook forums there is a heated discussion about all this. The team has posted there, claiming to adjust & continue the product. (Which did produce promising results so far and may still work with proper MM & risk management.)

But if they don't get back on track this week, I am going to file a fraud case on Avangate (the merchant middleman) and request a showing of this case here on FPA, too.

 

[westofpluto]

Folks: EVERY system has a losing trade once in a while. The reason that many of you had accounts wiped out is simple: poor money management. Part of the fault is the marketing at sPhantom which showed the astronomical growth you could get if you use a risk factor of 30. The only problem is that one losing trade (one initial trade with the second recovery trade) would wipe out your account. Don't get me wrong, I'm not happy about losing money either, but I had enough sense to use a risk factor of only 6, which in this case yielded a 16% loss on my account. That's much more manageable, especially if it comes back over the next 3 months.

Anyway, I think the jury is still out as far as sPhantom performance is concerned. Does it make money over a year? 2 years? We'll see. But it is important for everyone to do the math when setting their risk factor - with a max of two open positions at 250 pips stoploss, simple calculations will show that a risk factor of 30 will blow your account with a single loss, so don't do that! Accept a much lower nice stead gain and you won't see such catastrophic losses. You can yell and scream about scams all you want, but in the end it is up to each of us as traders to use proper risk management to keep our accounts from blowing up.

 

[gombosg]

Well, in my case the problem was that I bought it just before the crash and the second or third trade it made was the big DD. Even with default settings, it was bad to lose some $150 (with a manual exit at a pennant, damn, why is it an EA if it sits in a losing trade on a trending day?) without making any prior profits, plus pay the $300 for the EA.

They refused to refund me. My only hope is that after it resumes trading (it already did, luckily the team didn't quit), it is going to do so in a profitable way.

 

[koxglide]

Dear All

My personal experience: I bought it, It was working fine, the Big DD not affected me, in fact I have profits in this operation, however today the sPhantom web page is not working and in the broker appear a message like "Not Connected to the sPhantom server", finally they are not answering my emails...

Take your own conclusions

Regards

 

[corre71]

It is absolutely a shame this service or Ea or as u prefer to call this scam! After they wiped out the accounts of their customers stopped completely to reply to any email and stopped any form of support or necessary update! Stay away from These persons! I ask also to FPA to delete Sphantom from the folder of the expert advisors, because some person can still be inducted to buy this crap!

 

[Miv2050]

His wrong stop loss level wipe out my account just login to my real account and see what sphantom done to my successful growing account,I made $1500 profit in less than 2 weeks but stupid sphantom wipe out my account so rubbish guy who is behind this scam signal.!

HE IS ANOTHER LIER SCAMMER WANTS TO RICH THE AMOUNT OF MONEY HE TARGETED AND PLANNED,FOREX IS FULL OF RUBBISH CHEAP SCAMMERS BIG LIER JUST SEE HIS ANSWER TRYING TO FOLLOW ALL OF YOU HERE WITH GOOD RESPECT AND ANSWER WELL AND READY TO SELL YOU $299 A ROBOT TO WIPE OUT YOUR ACCOUNT.!!!!!!! THEY ARE MORE THAN SICK AND RUBBISH CHEAP PEOPLE.

AS I EXPERIENCED ENOUGH FOREX IS BEST PLACE TO TARGET PEOPLE BY PROVIDING TEMPORARY SIGNAL SERVICE ONLY AND ONLY TO SCAM TRADERS TO MAKE EASY MONEY MOST SCAMMERS ARE IN FOREX MARKET SO VERY BECAREFUL AND ALWAYS TRY TO BE WISE THAN TO PAY FOR SIGNAL AND GET YOUR EQUITY WIPE OUT.!!

DON'T LET SOME BODY WHO YOU DON'T KNOW TAKE CONTROL OF YOUR MONEY EQUITY AND WIPE OUT YOUR HARD EARNED DEPOSIT MONEY AS A THANK YOU FOR JOIN US.!!!

LOGIN TO MY REAL ACCOUNT NUMBER AND SEE HOW THIS RUBBISH STUPID SERVICE AND GUY WHO IS BEHIND THIS SIGNAL WIPE OUT MY ACCOUNT.!! IF ANY ONE WANTS PROOF.!!! ALWAYS CONTROL YOUR MONEY ONLY AND ONLY BY YOURSELF BEFORE YOU LOSE HUGE AS sphantom DONE THAT TO MY ACCOUNT.!!

Login: 914069

Investor Password: h2jwc9b

Order NUMBER: 1487874

Order Number: 1491282
sphantom magic number you will see 8301908
I ALSO PAID $399 FOR FXPAPA THE SAME AUTO TRADER fxpapa.com THE SITE IS GONE.!! HERE IS THE SAME SITE DESIGN sphantom HAS JUST SEE EXACTLY THE SAME SCAMMER SITE DESIGN.!! Best-4ex.com: The Leading Best 4ex Site on the Net THAT IS WHY I AM TELLING TO ALL TRADERS NEVER GO FOR ANY KIND OF AUTO SIGNAL SERVICE BECAUSE THEY ARE 100% SCAMMERS IN FOREX.!!!!

 

[antmaneraser]

Sphantom is not a scam. If you check their stats they have logged 50% gain this month. If they scammed you they wouldn't still be trying. They would take the money and run. If you had read the gentleman on the first page's post you would've seen that you can request a customized ea to control stop loss and if you ran your risk too high then you will lose with an system. Everyone loses a trade but the team at sphantom have decided to move forward and make improvements instead of just quitting like most do. They are far from a scam. I recommend asking for a customized ea from them and controlling your own stop loss and being reasonable with your risk. If you can do that then sphantom can work for you but either way calling it a scam is ridiculous.

 

[westofpluto]

sPhantom just blew their account. I avoided disaster by using low risk and having some luck on my side (my VPS went down before they opened their last disasterous trades). Oh well, another loser.

 

[mic29]

the sphantom site is down and I guess closed for good. the EA also wont work because there servers are closed. and they said on their site "Life long updates". I hope the FPA does not allow them to put another EA.