Unbiased Forex Broker Experts

ForexEureka.com Review Visit site

Updated: Jan 5, 2015
3.995 · 21 REVIEWS
Is this your company?

Live discussion

Join live discussion of ForexEureka.com on our forum

Go to forums

Video

Your company video here? Contact ad sales

Court cases

File a case

  • Open0
  • Resolved0
  • Not guilty0
  • Guilty0
3.995 · 21 REVIEWS
Forex Peace Army
DO YOU RECOMMEND THIS COMPANY?

Let other traders know if this service is worth checking or should be avoided.

Your feedback matters!

USA,
Apr 11, 2010,
Guest

This service is definitely less than one star. I have been with the service since it started its trade copying service in January 2010. I started with demo and switched to live account in February (2010). The huge amounts of pips they claim are false and the records are there to prove it. In February they made less than zero pip (they were in the negative), same thing for march yet for these months they claimed they made thousands of pips. They are just being dishonest. Now to prove my assertions. Note that when they give you the trade details they do not give you the floating profit and loss. They also do not show what there equity was. The floating losses are so huge that at the end of each month their pip score is negative when you subtract the floating losses. Their equity for these months (February and March) were less than what they started with (loss) So it is fraudulent and deceptive for them to announce making thousands of pips in those months when they did not make even a single pip. If any person wants to contest it let them give the password for the master account where we copy trade from you can easily see that they have mostly been in loss. Now the only person who is going to make one million dollars as advertised is the owner - Tejan and that is the purpose of this scheme. Tejan has made over one hundred thousand dollars (US) since the copy trade started. This is a lot of money in Serbia (where he lives). When he saw that at the rate he was going the clients account will soon all be blown, he decided to close the service and direct them to other services he has formed. One of this his new service is Forex-Eldorado. If you look at this website it looks like the website of forex Eureka. The idea is that before they realise what is going on he will have made another one hundred thousand dollars (US) and perhaps tell another story and move them again. Because of the obvious dishonesty in reporting the pips they got in February and March (2010) I believe that most of the other claims of huge returns for many years and of managing accounts for people are false and deceptive. People who are moving with him to the new service will be wasting their money. None of his subscribers made any money during the trade copying service since January (2010) I am saying this based on the records of the master account. The only way you could have made money is if you are trading by yourself (in addition to the trade copying). In conclusion if they say my claim is not true let them publish the trade details including floating profit and loss or provide the password for the master account. This is a scheme for Tejan to make his million dollars and at this rate he will make that before the year ends
Ukraine,
Feb 27, 2010,
Guest

I am trading with ForexEureka for 6 months already, so I had a chance to experience many deeps and heights under real conditions. So I have been reading the postings below and was astonished, how people can judge this service after only two weeks (or 2 days even) of trading? Those of them who were lucky to catch a good time in autumn 2009 and had collected many pips rate it without hesitation with 5 stars, while others who were unfortunated to start it in difficult market conditions like now say ForexEureka trading style is doomed to failure and Tejan is an evil scammer?
I think the ForexEureka trading system is much more complex and conclusions can be made only after a longer time of testing, 3 months at least. Many users complain a large floating number of pips. Indeed, sometimes we had up to 30 positions open at the same time for many months. But, most of these positions were closed in profit eventually. So few weeks ago we could close GBPJPY positions with a nice gain which were opened 4 months ago! The pairs without a chance for recovery were closed in loss. Everybody can log into the website and go through the lists with daily performance an see, that approx. 1,000 ,1,500 pips in a month are getting lost, - after collection of 5,000 , 6,000 pips on average. So what is wrong with many floating pips? Many profitable strategies are working with that. Grid trading, for example, which is implemented in well known EA Robominer
France,
Feb 26, 2010,
Guest

I thought I could learn from this room but decided to forget about it all ! I have never seen such huge DD! This is more about gambling. It's a real pain to look at the trade records on the charts: small gain, huge DD. This is really to expensive for what it does... The team is nice but this is not for trading. I can't understand how one can rate this service more than 2 stars.
NY,
Feb 25, 2010,
Guest

Some people....I dont understand..First, on their homepage they say one of the biggest parts of their "system" is pair correlation.My guess it may be like basket trading. if it is then of course you will have drawdown. Also I have seen trades closed by these guys in negative territory. Someone was complaining about how trading .01 per pip wont give much money the first month. So what??? Compounding is a beautiful thing. with a average 3000 pip constant drawdown, they are making 4,000....5,000 and sometimes 6,000 pips a month! That guy who was complaining probably attempted to trade .50 cents a pip with $1,500...Trying to get rich quick!!! You think Forex Eureka dosent know that they have a large drawdown? Of course they do!! Thats why they say to trade .01 for every $1,500...Because they know they have a large drawdown..They are professionals!

Im still on the waiting list and I cant wait to get on......I have no problem with a 3000 pip draw down.....because in 3 months I will have made 12000!!!! Then I may close out the losers. do the math..12000 minus 3000= 9000 pips!!! I will take that!!

jeeze.
Germany,
Feb 19, 2010,
Guest

I joined them 2 days ago.When you use their recomended broker TCFX you have to pay them 147 US$ (trading microlot) When you pay for forexeureka 169 US$+Vat+147 US$ for TCFX+20 US$ for VPS you monthly fee is about 360 US$. When they make 4000 pips = 400 US$ (microlot 0.01 lot) you get 30 US$. Dropdown which is large, not includet. On their masterterminal there are over 11 trades over 700 pips in minus. Some of them Eur/USD are from middle January. When you look at their account history there are on aprox 50 closed trades in plus, 1 in minus. It seems this guys close only the good trades, and carry the bad ones till judgement day. It`s not a big deal to make 4000 pips in a month when I open 30 trades per day and close only the profitable.
I`m not convinced about them. Maybe it makes sense when you invest over 7500 US$ but sure not when you start with 1500.
Indio, California,
Feb 16, 2010,
Guest

I just finished the third week with ForexEureka for the month of February, 2010. There are some pros and cons with this service. First, the pros.

PRO- The pips recorded seem to be accurate. Since his start (TJ and Crew) in August of 2009, there have been an average of 4,500 pips made per month. This is a large number of pips, however, don't think that you will be trading a full 1.0 contract with this system. Actually, you will need a minimum of $1,500 per .01 contract.

The reason behind this is because TJ does not set stops for his orders. As you can imagine, the Draw Downs (DD) can become quite large. As of February16th, the DD in pips is roughly -5,500 pips. However, he has made roughly 4,000 pips thus far for this month. By the end of the month, this amount may be 6500 pips or more. The DD will decrease if the Eur/Usd decides to climb back up.

According to TJ, based on my calculations and based upon his past performance, it is possible that he could make 55,000 pips in the positive while his DD could be around -5,000 pips within a one year time frame leaving a profit of roughly 50,000 pips. But this is speculative. It will be interesting to see what the performance will be by the end of this year.

For those who try his service and post to this forum, PLEASE KEEP ALL OF US INFORMED AS TO THE AMOUNT OF ROLLING DD AS THIS IS A BIG FACTOR IN WHETHER OR NOT TO JOIN THIS SERVICE.

I personally decided to cancel my membership and to wait for future reviews than to risk my money at this time. For the most part, I would recommend this trading service, however, if you have a low tolerance for risk, then better to try a different service where you will be able to control stop losses. With that said, if you use the Copy Trade software, you are in full control of your account and can limit the trades placed by TJ by placing stop losses.

I will be monitoring this forum from time to time to determine whether or not to rejoin his service. This service is definitely not a scam. Tejan (TJ) comes across as a sincere hard working person who wants to do the best for his clients. I will say that his trading room seems like I went back to Junior High, although with all of the cartoons and Junior High type of chatting. Besides that, this could end up being a good way to make a living if risks are managed well.

Ohio,
Feb 9, 2010,
Guest

This is an excellent site. The copy trading works well. The amount of pips listed on the site are accurate. Tejan really knows how to trade. Follow the rules and the money management and you will do well.

2009-12-02 No rating I have been a member of forex eureka. I can only trade part time but this is the first time I have made consistant profits in forex. Tejan trades the calls he makes. The claims he makes on the web site are real and the profits are good. I'm glad I found him.
Europe,
Feb 7, 2010,
Guest

I am a member of Eureka Service for more than 4 months. So I saw the comment of Alex rating the service with one star. He can value the service how he likes, but the content of his comment is not quite correct. I can well understand the anger and frustration after blowing the trading account within few days, but I can say it directly that was his own mistake. Every new member entering the Eureka - trading room gets an introduction explaining trading rules. And the rule number one: money management, implying coverage of every 0.01 lot with at least 1,500 USD on account. On my personal account, I have a coverage of 2,000 per 0.01 lot, and my DD in this turbulent time is approx. 10%. So I can easily sustain even further large fluctuations in currencies.

There is also not correct understanding of the trading style: this is neither martingale nor counter trend, this is rather aggressive scalping using small position size. Now to the sentence: don't be fooled by the high pip count. Well indeed, on average, there are approx. 300 .350 pips made per day. In a months, there are 6,000-6,500 pips. Sometimes few loosing positions have to be closed, which makes a netto gain of approx. 5000 pips. So by trading only 1microlot EURUSD, there is still a netto win of approx. 500€/months. While account is growing, the size of trading position gets adjusted accordingly (all calculation can be found on the website of ForexEureka). So the performance of approx. 30% / months is a real number! In the last weeks, the performance was approx. 20%, which is mainly due to change to semiautomatic trading on MT4 platform. This platform is notoriously slow in execution, and few pips escape on each trade. But the Eureka team is working behind the scene on another, better solution. So for me personally, ForexEureka is one of few outstanding services providing steady growing gains, as long as trading rules are not violated. My comment should not be considered as a promotion campaign for Forex Eureka but only as an opinion, since there are still approx. 80 applicants waiting for implementation to semiautomatic trading.
Midwest, USA,
Feb 7, 2010,
Guest

I felt compelled to write this review as it seems as though there are many people impressed with Tejan's trading and I don't know why. I was interested in this service so I joined when the auto-trading became available - I intended to add this as one of my account strategies. I have been a professional trader for 8 years so I am no newbie. As Tejan claims, I have also lived and breathed forex since I started. I concur with Roger and Alex on every point. Any strategy that has a floating p/l of over 3000 or more pips is like sitting on a ticking bomb. Yes, this is a martingale strategy being used which is eventual death to accounts. Don't believe me ,do your research. So you end the month with an offset gain of 2000 pips at the price of 0.01 per pip = $200 usd. Great job! You made $200 for a full months work and you have to pay him another $169 for his service. So, Trance, you can support your family on $31 month? Good for you .most of us can't. I am not here to belittle but to say Wake Up to those who think this is the way to go. Do some more research and don't risk your hard earned money on such a fruitless strategy. There are services out there that can easily make you 10k per month with less risk while still keeping to sound money management principles. How do I know they're out there. I use them. Every day I do my homework, research and testing which is how I ended up testing this service, which failed miserably. I fortunately knew better to use a demo and not real money but I am sure there are many who weren't so fortunate which angers me about the way this service was initially presented. After-the-fact and 3000 pip DD, the emails come out warning of the risk and importance to trade micro lots. Yes, it was there all along but not stressed as an absolute. While promoting the service he showed a statement where he made over 2,000 pips in one week. but what he doesn't ever show is his floating DD. That to me was the heart of the scam. Be upfront and honest, show the whole picture Tejan, not just the good stuff. So to those of you who are considering this service.I urge you to move on and put your money somewhere you can get better returns with less risk. Those of you who are satisfied with this high-risk, low/No-Gain method of trading, consider yourselves warned.
Portugal,
Feb 6, 2010,
Guest

Well as i promised here i am after my first week with this service on a live account.
The service is awsome! More than 1000 pips this week, 1114 precisely!
No big dradown, and if we use a good money management as it is STRONGLY advised by Tejan no one will have problems.

I will keep my reviews and results but for now 5 stars to me.

2010-01-30 No rating I'm with this service since they started his auto trades function. Of course i started it on a demo account. Even with the current big DD if everybody stick by the service rules, nobody will have problems. Remember too greedy = too bad.

I will start on my live account next week and i will be back here to rate the service then.

Untill now i like what i see.