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OracleTrader.net Review

Updated: Jul 29, 2019
Dustin Pass
2.045 · 7 REVIEWS
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2.045 · 7 REVIEWS
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Consumer Reviews

Richard,
Sydney Australia,
Feb 14, 2011,
Guest

Stay away from Oracle trader. I regret signing up with them and can't get a refund. I have lost Australian $2400 for such a c****y strategy. When thinking about the news that they are trading, half of them will be a NO TRADE. Also when thinking about all the re-quote from the broker, I think you are just wasting your time with Oracle Trader. No Trade, requote and slipage will just kill you with this program. Its a waste of time and money.
WinFX,
Austria,
Nov 8, 2010,
Guest

I used Dustin`s Oracle trader a while ago when it was still called RSS. Then you could still try it for USD 29,- the first month. I was using it to compare it with similar softwares like SNW which is much cheaper. Speed was similar, nothing exiting.
Now Dustin changed the name to Oracle trader and started heavy marketing which is quite bad in my opinion. I have been newstrading a while and know all the problems involved in it. Nowadays brokers don`t like newstrading anymore, to say the least. Autoclick software like Oracle trader might work for one time or two times on a broker, then most brokers either kick you out, slip you heavily on news or find other ways to prevent you from making money with it. If you read Dustins regular advertising mails carefully, you will see that most exited clients are new users of the Oracle software (who probably use it the first and last time on their broker). His software generally is ok, if you try different brokers and change brokers often, you might make good money for a while. But his advertisement has become annoying: activation fee of 2770,- USD which you don`t have to pay if you register immediately...
Check out his competitors if you want to do newstrading. They are cheaper, offer unexpensive trials and are as good as Oracle Trader
John M,
USA,
Sep 19, 2010,
Guest

I gave a previous review but without any rating. I'll give a one star now.

Not because it doesn't do what it says. It does. I'm giving it a one-star because the marketing and price plans behind Oracle. I bought it on their 3-month payment plan @ $900/month and I regret it so much I'm not paying month 2 or 3. I'm writing off the first payment for Oracle as a loss and am moving on.

The software works. It does what they say IT will do, which is to receive data from a news server and auto click on buttons you pre-program. Set-up is pretty good. No complaints there.

As someone wrote below, instead of going with Oracle, fasteconomicnews.com (Secret News Weapon or SNW) offers the same service with much better terms. Oracle: No free trial (I didn't get one), payment due all up front and strong arm sales tactics by Dustin (said they were limiting subscriptions and "closing the door" so "buy now or it's all over" which was a lie).

Dustin needs to cut the games and decide on a price and publicize it on a permanent web page and be done with it. Until he does that, please believe that you'll always be able to get at least as good a deal at a later time, any time.

Enough on their one-star marketing. How does it work?

Sure it does what it says. But this is 2010 and the days of news spike trading bonaza are over. What's left is scraps. In my one-month time I was only able to get a single fill using Oracle.
I made 25 pips, but it was with a broker that took 18 seconds to fill it, and using a Market Order which Dustin says never should be used. That's it. I guess I was lucky more than anything
else, but certainly didn't need autoclick software to get an 18 second delayed fill with my broker.

If you use this, take it as a given that you'll need to have a virtual server in the NY area to have a chance of getting filled. Forget about using your own PC. Don't even think about it. So count on an added expense of anywhere from 20 to 150 a month to use this service.

This is a review about Oracle, but since I learned about FastEconomicNews after buying into Oracle, I decided to try SNW out and have had the chance to compare them side by side.

Results: Virtually identical, even down to the microsecond or two as I captured on video. Results are so much alike that even on frame by frame replay I can't tell which receives news data faster.
That was with both running on the same remote server.

SNW setup is quite different but the end result is the same -- autoclick setup, deviation setting setup and connecting to a news server. Those two products and services appear to
be identical in substance and speed.

Where SNW is superior is simply that they offer a one month free trial with only a minimal non-refundable setup fee, and a month-to-month price plan you can cancel, suspend or resume
at any time. Oracle by contrast refuses to have a fixed price plan, refuses to offer any free trial (or do they now?) and charges the entire year fee up front.

After determining that I could walk away from Oracle after giving them $900 and instead use the 2nd month $900 premium alone to get 4-5 months of service with SNW, it was a no brainer.
Yes, SNW presently costs 225/month which comes to $2700/year which is the same annual cost as Oracle 3-month pay plan. But SNW's monthly, no-commitment pay plan WITH a free trial is far better. And since I now despise Oracle for their marketing tactics, it feels good to be able to highlight their competition on FPA.

Having said that, I've still not gotten a fill with SNW in the week or 2 I've been with them, so in that dept Oracle and SNW suffer from the same problem. Getting fills. So maybe SNW isn't for me. But if SNW isn't for me, neither is Oracle. I can believe that doing this type of trading requires as many broker accounts as you can stand to fund.

Bottom line: If you want to try auto click software for news spike trading, check out fasteconomicnews.com for their one-month free trial before dealing with Oracle. But before you even do that, get a few broker accounts open and funded with trade & feed servers in NY.

One star for Oracle Trader.

2010-08-19 11:19 No rating Everyone who's been around forex for a while knows about news/spike trading, and knows it used to be easy money. Oracle Trader inspires confidence that it still has life to it.

It does work. As far as delivering the order relatively instantly to the broker. The only issue is the broker then filling the order and that makes a difference between something that makes booku bucks and an utter failure.

They do say that prudent use of it involves having multiple broker accounts and having OT send orders through all of them, with range orders that are only to be filled within that range or not at all. The expectation is that some brokers will be able to fill the orders while others won't.

No, there's no money back guarantee. One thing that bothers me is that they advertised that OT would be taken off the market after a series of webinars that took place at the beginning of August of 2010. That naturally increases pressure on interested prospects to buy, but it's apparently still available for anyone two weeks after that promised close date. So it seems it's one promise that was broken.

And then they solicited from their clients videos talking about OT with an incentive to extend subscriptions by one month for everyone that complied. Obviously there's nothing to complain about but.... well they do have a very strong sales pitch. It comes off as very impressive and that's a little bit of a flag for me. And getting videos of customers to no doubt be used for more sales purposes strikes me the wrong way. But okay, that's just my personal thing.

They do say that one think that may work well is to get a virtual desktop system in New York on which you run OT remotely, which gives more instantaneous execution of trades, both for you and your broker you're hooked too. That may well be an important boost to this system where microseconds make a difference.

Jury is still out on this for me.
SPD,
SE USA,
Sep 12, 2010,
Guest

Hi this is SPD and i gave a review 3 weeks ago after purchasing the Oracle Trader, and this is my opinion for now, I have not had a losing trade!!! Since Sept 1st I have taken 9 trades for a +125 pips on 2 brokers. Now this is the key, you can execute up to 12 trades on each news release so to avoid slippage, requotes and not getting filled it is best to open at least 2 or 3 different brokerage accounts. The software i give a 9 out of 10 as you need to have a super fast internet connection and they even say to use a VPS (they even give you the one where there server is located so you have a ZERO ping so its instant getting the news to your computer then you just have the speed of your connection to get the order to the broker, customer service i give a 5 out of 10, they usually reply within a day however my account got deactivated for a day because when i bought the system you can get another system for a $1 and a 2 week trial so i emailed support after my 2 weeks to cancel the trial and they did but in the process cancelled my whole account (inturn i missed a 100 pip trade) VERY PISSED and they didnt offer me anything but whatever so i guess i will write another review near the end of the month if i can remember to to keep everyone updated

2010-08-17 02:49 3 Stars I have known about the Oracle Trader for about 2 years when I bought another program (Triad Trading Formula) the Oracle Trader came as a one month free trial bonus. at the time I was new to Forex and didnt have the time or capital to spend $300 a month on a subscription. so i let it go. Then recently I subscribed again as now I am more confident and knowledgable with the forex. I have to say that the auto click function does work as
advertised however i have not yet been entered into a trade as the live "profit center" is only open about 2 to 3 trades a week. this is where Dustin is live with you making sure everything is set up. i do understand that we are trading deviations so it is a hit and miss opportunity, and in reference to the entry above me about getting up at early hours in the morning just my opinion if you are in the US you have to be up for the London open at 4:30 in the morning so that should not be a negative towards Dustin. I also thought i would receive more in the bonus packages however the service is exactly what i bought (bonuses are just bonuses right) the company just did a good job marketing and suckering everyone in. also i have only contacted customer support twice and they have responded within 48 hours and there is also a live support available 9-5 Mon -Fri. also the broker situation is clearly not Oracle Traders fault yes they send you to a IB but you can research here on FPA for a reputable broker as the Oracle trader should work with just about every broker as all it is, is a program that saves you mouse position where you place buy and sell orders and when the news is released to their servers it is sent to us and the auto click check to see if the deviations are met and makes a buy/sell or not, as i have only had the service for a week i will repost to keep everyone updated in the future as i have the service for a year (which i agree with the above posting not having a refund policy is bad business on the company's side) as there should be a way to cancel if you are not satisfied as in the marketing Dustin shows that they only average about 70- 80 pips a month
John,
Los Angeles,
Sep 1, 2010,
Guest

I was going to buy the software 2 days ago but the website said that "Registration is closed at this time". I put my email address in the website so that when the software becomes available, I will be notified of it. But yesterday, I got an email from Oracle Trader saying that for people without enough funds to buy the software and full price and buy just 2 months of service for $500.00! After that, I just pay $369.00 a month to continue the service. Great! Now I can buy the program! But...I needed to google oracle trader "scam" one more time before actually buying it! I'm soooo glad that I did. After reading reviews on this site about how brokers would make this kind of dealing impossible, I guess bottom line is that if you aren't educated in the forex market, as in going to class for this stuff, you shouldn't be trading period. Right? If anybody can help me trade successfully and you are in the Los Angeles area, would you please PM me and be kind enough to guide me in the right direction? Thank you everybody!

repsoljohn740@yahoo.com
Digital_soul,
Sydney, AU,
Aug 19, 2010,
Guest

A couple of facts just so everyone knows:

The owner of this FPA site, known as Felix, was once a spike trader too. As far as I understand many years ago he owned a site called ForexBastards.com for which he used to give daily signals for spike trading and used autoclick software which is now owned by fasteconomicnews (google it) in those days (4-5 years ago) brokers never heard of autoclicking or suspect it. Literally hundreds of people were draining brokers and brokers were losing alot of money. Alot of normal people made money from Felix's signals.

Problem is, brokers caught on, they started increasing the spreads around news times or, as shown above, refusing spike trades altogether citing 'low liquidity' in the market (all BS) but since then spike trading was dead unless you knew a broker stupid enough to not to block news trading. Chances are these days that its slim. However, I can't speak from experience because I've never tried it.

Another thing I want to add is that from looking at Dustin's old video's I can see that all his pairs have a 'fxf' suffix on them, after doing a bit of research i found that he is using forex.com as his broker. I haven't used forex.com to spike trade but once again I doubt it can be done. This is a big company, they would be stupid to allow spike trading. The only way I can explain how he is able to make these amazing spike trading videos is that he could be using a demo account on these trades (in actual fact I've seen a video of his with an exact $10k starting balance - highly likely a demo account), because some brokers provide a different price feed to real accounts. Demo accounts will easily 'fill' trades whereas when you get a real account the price feed is totally different. You are susceptible to large slippage (google it if you dont know what that means) and misquotes when spike trading.

I'm surprised that people would pay him $3k with no money back guarantee. I will urge ANYONE to first try fasteconomicnews BEFORE trying dustin pass because although they charge $300 per month for the same thing (they even have a 30 day paid trial) and best of all you can at least stop the service if you can't find a good broker and you haven't spent THOUSANDS upfront to try it. Also the awesome "Crazy Cat" gives free signals on how to trade the news. I think fasteconomicnews also have a autoclick software (it was their idea in the beginning anyway).

I will still keep a keen eye on dustin pass but advise people to be very skeptical about him. If i find something good or useful I will post. PLEASE NOTE: I HAVE NOT TRIED HIS SERVICE. I am merely reporting what I have noticed.
Lynn,
Washington,
Aug 15, 2010,
Guest

The theory behind the software is what Felix was doing 4 years ago. The software is supposed to automatically trigger a trade when news is released, without any assistance from the trader, other than the initial set-up. Dustin says that they have not had a losing month and I believe him. He only monitors the trade room for one or two trades per week, and if the deviation in the news release doesn't hit the predefined target, there is no trade. The biggest problem with the software is that it does not work on every brokers platform. After downloading it and attaching it to my platform, I was disappointed to see that I missed several opportunities because it was not compatable with my MT4 platform. I opened accounts with two different brokers based on their recommendations and in two months of using the software I still have not had one trade trigger. Their customer support is useless in this situation. Their response was non-commital...so basically I paid these guys $2800.00 for a system that is not guaranteed to trigger a trade. Apparently there are plenty of people that are using it with success...I am not one. If the software worked, I imagine it could be quite profitable. What a waste of money!
RobertO,
Tennessee, USA,
Aug 8, 2010,
Guest

In short: Too many promises, too little execution.

The auto-click software is decent and not difficult to use, so no complaints there.

However...no money back guarantee...so you are committed for about $3k regardless of performance. That was a big red flag to me...but...Dustin sounded like a very nice and sincere fellow, so I believed him when he promised that even though he wouldn't refund, they would work with you to make sure that you were profitable. Yeah, well, not so much.

So what kind of help do they provide? Not much really. And repeated pleadings to offer a bit more were completely ignored. As one might expect, the key to news trading these days is to find a broker that will fill you. After losing a nice piece of coin with the broker that I was using, I asked for some help finding one that was appropriate for news trading and that would fill me. Their answer? They sent me to an IB middle men, and said...'bla bla will take care of you and get you fixed up'. Sounds a great deal like 'get outta here kid, you bug me'.

Well bla bla also largely ignored me, but after raising a bit of a fuss there, I finally was able to get a recommendation for a broker. So I set up a new account and started attempting to trade again.

Now when trading the news, you are trading deviations from expectations. That may happen often, or not so much. Which means that out of 10 possible opportunities, you might meet safe deviations 3 times or so. So, with the new broker...as recommended by 'their' guy...I started trading again, and after about 10 or attempts, I got 3 triggers which resulted in 1 requote and 2 trades disabled...and no active trades..no pips made.

OK, I know what a requote is, but 'Trade Disabled'? I'd never heard of that one. So I started asking around, and found out that it means that the broker has shut down the trade server. The broker wouldn't admit that they do that during news...but they did. The 2 times I got trade disabled, it was big news releases that typically move 50 pips or so. The requote was on a minor report that moves more like 20.

At this point I was pretty disgusted. That was about a month worth of getting up at horrible times, stumbling to my PC and watching other people make money. Well, maybe they are making money. Because while Dustin is very quick to talk about how much folks are making, he doesn't talk about how many that aren't and eventually get disgusted and walk away...in spite of paying about $3k for a subscription...that he won't refund.

So...I'm sure that somebody is still making money with his service...although it may just be Dustin. I'm sure that you can find some brokers that will fill you, but they may be the ones that will turn around and rob you after you made money. The larger reputable brokers seem to protect themselves, and won't fill you. And despite Dustin's claim that they will help you...DO NOT BELIEVE IT.

They also promised 7 premiums with the subscription. Several are completely bogus (for instance: advanced news trading course...aka, the software manual), and the others I never actually received so I can't comment on the quality.

I will not call it a scam, because the software works as described. I will call it unethical however, because he knows full well that most folks will find no value whatsoever, he won't refund, and despite claims to help, they won't help with the one thing that is most critical...helping you find a functional broker.

Run away...

Oh and by way of a PS...I did mention to them that if they were unwilling to refund or give meaningful help...I would become very publicly vocal about their service. After warning them and giving them a couple of months to do something helpful, they have not...so the spreading of truth will commence.