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TrendForex20.com (John Chen) Review

Updated: Sep 5, 2018
SCAM
1 · 3 REVIEWS
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SCAM CONFIRMATION: 2009-06-09: The FPA has confirmed a scam complaint against TrendForex20.com. Trend Forex 2.0 is blacklisted by the Forex Peace Army. We recommend against doing business with this company.


Please follow this link to read the scam finding and see the evidence.


Website is down.  Another scam site wiped from the web.
TrendForex20.com (John Chen)

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Case IDFiledCase nameVerdict
20092009-06-09FPA Scam Confirmation against TrendForex20.comguilty

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Scam!
1 · 3 REVIEWS
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JohnRW,
New Zealand,
Jul 1, 2009,
Guest

I purchased Trend Forex 2.0 being led to their site from another leading to believe it was a Robot. It is not. It is a collection of indicators at best with no automation for entering and exiting a trade other than normal manual entry/exit settings. For a novice, I was not interested but I did manage to break it down into its component indicators and almost recreate these from standard or free indicators. I got my money back by requesting a refund from Clickbank. The vendor only answered my emails sent before I made the Clickbank request for a refund. The only help the vendor would provide were responses, "Please tell me exactly where on my sales page it says Trend Forex 2.0 is a robot"
and "Hi, it's not an automated robot or EA and it's never advertised as such" even though the advertising gives the impression that it is not "manual" requiring much watching by the trader person. Anyone else should go to Clickbank now before the funds dry up!
Robert,
Tennessee, USA,
Jun 20, 2009,
Guest

I purchased and was very disappointed. The whole package is a couple of readily available indicators and a brief document that spells out the rules. I have requested a refund.

In looking at the website's trade examples after having read the trading rules, I don't think that you would end up with those results. I even went so far as to create an EA to automate the testing and backtested on a number of pairs. It was pretty hit and miss, and certainly nowhere near the promised performance. With lots of tuning I was able to coerce some of the pairs into a profit, but nothing I would consider trading on a live account.

At least one of the trading statements purported to be from this system that was included in one of the many ads pretending to be a review, clearly could not have been produced using the recommended rules.

Is it possible that someone with a eye for trading could use this system and make some profitable trades? Yeah, probably. But then again, someone with an eye for trading could do the same with no system at all. As for the rest of us, hang on to your money and keep looking.

Jeff,
BC, Canada,
Jun 5, 2009,
Guest

Issue escalated to Traders Court FPA Scam Confirmation against TrendForex20.com | GUILTY
There has been plenty of hype and fan fare around the pending release of John Chen's newest Forex Trading product called Trend Forex 2.0. I, probably like many, many others have actually been looking forward to this release, as it "seemed" to have some solid historical data and testimonials verifying its ability to be a sound system.

Then I decided to do something most people would never do. I dug a little deeper. If you were one of the thousands who have been hit by a barrage of emails in the past couple of weeks, then you no doubt received an email that included a link that took you to this page: http://www.trendforex20.com/documentation.htm

On this page there is a testimonial from a fellow named Dean Howard from Australia. He claims to have made in excess of $34,000 in 3 months using the Trend Forex 2.0 system by being a pre-release "Tester" of the system for John Chen. In his testimonial he also includes a screen shot of an account statement dating from February 5, 2009 to March 20, 2009.

Here's where it gets interesting.....

I decided to check the validity of the trades he posted by cross referencing them against my MT4 charts, and low and behold they are not even close to the prices that actually transpired on the dates he provides on the account statement.

Once again... here is the link so you may verify this for yourself: http://www.trendforex20.com/documentation.htm

It is obvious that this account statement has been doctored to give the illusion of successful trades, when in fact it is a complete work of fiction. Now, the very fact that John Chen has falsified information like this on his website is enough for me to scream "SCAM"!

I'm so sick and tired of all the hype that surrounds these "Forex" launches, especially when it turns out that there may be something fishy going on. In my opinion, you should stay as far away from this launch as you can, and be sure to let as many people know about this as well.

Regards,

Jeff

2009-06-09 Update: The FPA Scam Investigations Committee has confirmed this scam complaint.

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