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ForexReversal.com Review Visit site

Updated: Nov 12, 2018
3.328 · 4 REVIEWS
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3.328 · 4 REVIEWS
Forex Peace Army
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dpipxter,
United Kingdom,
Oct 28, 2018,
Registered user

Accurate indicator if patient

Decent indicator if you're willing to wait for the signals. Bought it a month ago and so far had 6 signals in October, most of them were good for around 30 to 40 pips. Can't give it 5 stars as it can go many days without a signal. (Well, 5 for accuracy but 2 for frequency).
FernandoG,
Johannesburg, South Africa,
May 18, 2018,
Registered user

Forex Reversal Indicator not worth the money !!!

I bought the Forex Reversal indicator and after a while i realized it wasn't what i expected so i tried to get a refund and was the told had to wait for 6 months.
So i did and when i tried again was told that their refund policy says that a better indicator on the 1 minute time frame as to be found before the refund can be processed. Well in my view the Legacy Trader is one such indicator !!!
One excuse after another so they don't refund the money.
There aren't even enough signals to test the indicator, so what's the point of having it in the first place? When i bought it it said 1 to 2 signals a month ... it has now been 2 months and no signals from it.
And i tried to contact them on support email but now they don't even bother to respond.
Will email FCA.
Reply by forexreversal submitted Nov 12, 2018:
A potential client recently emailed us, curious about about the bad review found here on Forexpeacearmy.com.

Having read through Fernando's review, it is unfortunate he has made a number of invalid points in his comments. We shall address these here:

1. The client claimed in this review, "after a while i realized it wasn't what i expected so i tried to get a refund and was the told had to wait for 6 months." Actually, this is what he wrote in that email: "I took the trade, but unfortunately it went the wrong way. It initially went right but I didn't accept 30 pips because that I can get from my free arrows indicator." Honestly, for a trader to totally reject all 30 pips on the M1 timeframe is something very surprising. We explained to him that 30 pips isn't something to be scoffed at on M1. The point being, the client was complaining of a move that moved 30 pips on M1 TF, but refused to even take anything from such a move. It would have been nice for Fernando to highlight this in his review.

2. We also asked him concerning a "free indicator" which he claims already does this, but he did not inform us. However, only in this review has he mentioned, "Well in my view the Legacy Trader is one such indicator". We believe the key differentiator between our indicator and others is the consistency of the signals. Many other indicators can offer valid moves, but alongside that they also often produce a multitude of bad moves / false signals. (This is the reason for the fewer number of signals that our indicator produces, i.e. seeking to achieve an accuracy that is consistent whilst avoiding the bad moves found on the majority of other indicators). Hence, we'd appreciate some trade examples that show the superiority and consistency in achieving an easy 30 pips per trade via the "Legacy Trader" he talks about.

3. We encouraged him to use our indicator for 6 months (not merely "wait"), because it's impossible to judge such a software in a matter of just weeks - and this was clearly outlined on our sales page, before he purchased the software.

4. The same day, (i.e. a few hours after complaining about the 30 pip move), there was another signal on the EURJPY which moved over 60 pips. So Fernando emailed us again, saying: "Hi there again. Well it looks as though you made me eat my words... lol. Yes I will KEEP the indicator. It was my frustration rather than anything else. SORRY FOR THE WAY IN WHICH I SENT THE MESSAGE. MY FAULT !!! If I'm Man enough to complain I'm also Man enough to know I'm wrong !!! And I'm wrong here. It was frustrating not getting any signals but now realize the indicator is worth it. I saw the other signal and traded on demo and it was a really good call. Again : I'll keep the indicator !!! Thank you for your reply. Best regards Fernando". Again, it would have been nice for Fernando to mention this in his review here.

5. He also says in this review, "There aren't even enough signals to test the indicator, so what's the point of having it in the first place?" To reiterate - the software was designed with a very strict algorithm, and only until all conditions are met, does the software generate a signal, and as a result it can go weeks without signalling, since it is impossible to guarantee a minimum number of signals per month. Again, all this was outlined on our sales page prior to buyer's purchase, and from our perspective, it is unacceptable for us to sacrifice accuracy purely for the sake of increasing the number of signals. It is disappointing that Fernando has ignored this issue.

6. He mentions here, "And i tried to contact them on support email but now they don't even bother to respond". To clarify, Fernando has emailed us many times since last year (2017), and we've aided him with all his queries and questions, explaining how to use the indicator, how to setup push notifications, how to set up gmail alerts, the nature of the indicator, etc... In fact, we have replied to the client's emails on around 20 separate occasions, but haven't had any correspondence since June this year (2018). We'd appreciate it if Fernando can please let us know what the content of his last email was again. We'd be more than happy to reply to any concerns he may have. Our support email is: support@forexreversal.com

To sum up, this is an unfair review from someone not presenting all the facts.

Kind regards,

Forex Reversal Support
hunt4pa,
United Kingdom,
Dec 4, 2017,
Registered user

Please remove my 1 star complaint dated Nov. 16 2017

Please remove my 1 star complaint dated Nov. 16 2017 about their customer service.

It was a misunderstanding from my part.

Their customer service has been excellent.
Keeping my 1 star complaint is very unfair to ForexReversal when it was my fault.

Thank you.

Dec 2, 2017 - 5 Stars A misunderstanding from my part - their communication is actually decent,
emailed them on the wrong address.

Entirely my fault for which I sincerely apologise.


As for the indicator itself - it is of high quality, and although the signals are too rare for me, they are accurate.


Nov 16, 2017 - 1 Star Bought their indicator on 30 May 2017.
Not what I was looking for' so I contacted them for a refund.
Was told I had to use the indicator for 6 months, so I did.
Contacted them twice on 14 Nov. and twice on 15 Nov. requesting a refund.

My emails have been ignored.
Will file a case against them and report them to FCA.
Toni,
gye, Ecuador,
May 26, 2017,
Guest

Good

After communicating with them, I have been reimbursed for parts, and they have explained to me that it's important to use a stop Loss. Use it at your own risk, there are indeed some quality trades.


May 17, 2017 - 1 Star Bad indicator. It is not the superindicator as they promise.
Bad signals with a terrible drawdown.

And they do not meet the refund. Nothing serious. I expect my refund and do not meet.
Bad experience..
Reply by forexreversal submitted Jul 31, 2017:
Hi,

Thanks to Toni for updating the review, since we clarified to him that he was using the indicator incorrectly. Toni acknowledged to us he was not aware of the importance of managing a stop loss / take profit, as he was simply entering trades and coming back to them after a long time, to see how things are getting on. For example, Toni wasn't able to profit from this GBPCHF buy signal in May, despite the pair moving up over a hundred pips in a few hours, from 1.2626 to 1.2736, as can be seen here:

http://www.forexreversal.com/images/may_2017/

He was disappointed that he couldn't capture any pips from the above GBP/CHF buy signal, and previous similar setups. Once we explained to him the importance of managing of one's trades, (e.g. whether by using an automatic trailing stop, or manually adjusting the stop loss) and applying some technical analysis, he appreciated our advice and understood much better, (after initially believing such signals were losing trades with large drawdowns - which is obviously not the case, quite the opposite).

Ultimately (and this doesn't only apply to the Forex Reversal indicator), trading without paying attention to these matters is simply going to make things a lot tougher in an already difficult market.

Forex Reversal