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ForexConductor.com Review Visit site

Updated: Jan 27, 2015
3.488 · 22 REVIEWS
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ForexConductor-0.3658.7-18.841

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3.488 · 22 REVIEWS
Forex Peace Army
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Let other traders know if this service is worth checking or should be avoided.

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Utrecht, Netherlands,
Sep 14, 2012,
Guest

It seems they are trading their opinion instead of technically. USD index have broken the uptrend on the weekly time frame, but they still trading against it.

Not only they have destroy many live accounts and also demo account at Forex Verified: http://www.forexverified.com/reports/forexconductor/forexconductor001.html

To make it up all those losses they are trading (gambling) now with 16 times higher lots.

2012-09-08 2Star I’m running FC for almost 3 months and unfortunately it lost me 60% of my account. Draw Downs it’s getting worse every week and I had to interfere three times and close all the open position between -600 to -800 pips. I have already stopped this EA.

They are constantly betting on the short side even though the trend strongly up at the moment. For example they were short on EURUSD for a week and they had the chance to close it at breakeven and Friday they closed the trade at -223 pips :( 

I guess this system would be very profitable if it’s reversed.
, Switzerland,
Sep 12, 2012,
Guest

They are completely crazy.
With 9 trades at the same time, all bad, and finally a 99.75% drawdown, they killed my account.
http://www.myfxbook.com/members/copycat10/forex-conductor/321798

Absolutely no response from them, nor a refund on the so called 60 days money back guarantee.
It take 58 days to wiped my account.

Stay away from these cockroaches
, New Zealand,
Sep 12, 2012,
Guest

I'm changing my rating to zero. Quite fitting since this is what they have done to my account.

These guys are simply incompetent. Despite gold breaking out, another round of QE and a raft of other negatives for USD appreciation, to say nothing of techicals (streong uptrend) they continue to place bets against USD weakness. Needless to say they have destroyed my account and many others I suspect.

2012-08-31 2Star Another update.

If there is a word to describe Conductor's trading over the last 6 weeks it is 'ugly.'

After six weeks any pips they have managed to accumlate are all at risk along with a considerable amount of equity as they seem determined to sell a retracing market and, as a consequence, accumulate a bludgeoning draw down. They constantly trade against momentum and market sentiment and it would apear pay no attention to news events or other market or asset classes, and hence pay the price.

They don't appear capable of making pips on anything but a bear market.

At the moment, I definitely would not recommend them.

2012-08-10 No Rating They seem to be MIA at the moment. The trading has stopped, apart from two AUD/USD and NZD/USD sells that had been left to float against a strong uptrend. No indication of a stop and no attempt to close these positions on the pull back yesterday.

After three weeks of trading my account is down about 100 pip, not including floating losses.

Will up date with a rating in a few weeks

2012-01-02No Rating Not yet convinced about these guys. Been trading with them of the last three weeks--admittedly a difficult time of year. The win most trades but the idea that they have a 'professional trader' montioring their trades seems just a little dubious. The present open trade is a case in point: selling AUDUSD after it had broken and closed above a significant triangle was ill advised to say the least to do so against the backdrop of prevailing risk aversion and the Aussie proving extremely resilient was folly. Now there appears to be no risk management at all. it iwll be very interesting to see how they handle this pending loss. The fact that this trade is very probably going to be the second significant loss in the AUDUSD pair in as many weeks suggests they probbaly are not sufficiently skilled to trade this pair at the moment. Time will tell.

It is too early to post a review but their risk management is on negative watch. On a positive note, they do have a very high win loss ratio. However this is nothing if their win/reward ratio is not managed carefully. It is the latter that matters if you want to be sustainable in this game
Sydney, Australia,
Apr 13, 2012,
Guest

Came back strong after a bad session in Jan and Feb 2012
God One Guys. Very happy i didn't cancell and end up losing my capital.
Patience Paid Off
Genève, Switzerland,
Mar 13, 2012,
Guest

I had a problem with them. I've purchased their service and after the first month, losses - 900$, using only their trades at 0.1. So I've stopped it on my demo account because I've found their results on myfxbook.
I've waited one month more to ask refund as their promisses, their results are also bad during the following month.
And now, they refuse to refund even I've send my montlhy report and the myfxbook report who prove their very bad results.
Another point: BEWARE of them, they have no physical adress, just mobile phone in California (San Fernando?)
I want to report a fraud at the attorney for escrow.

2012-02-01 2Star Hi all,

I agree with Ross, the results are bad, -500 pips from 9th january and also two losing open trades.

I've received the same response about refund. They ask me a delay for 60 days before, I'm waiting because I'm sure they will not recover the losses they made for these weeks.

If I've problem with further refund request, I'll tell here.
Thanks
USA, USA,
Feb 24, 2012,
Guest

I traded for 60 days and lost money. The company refused to refund my money and after much arguing they refunded my money stating it is a "goodwill credit" I asked them to continue to send the trades per the written advertisement I joined under. They have refused. The terms on their site are not binding as they do not disclose who they are. For terms to be binding there must be at least two parties to a contract. They do not disclose who they are . No name or address. Forex Conductor is a fictitious name not licensed in any state as far as I can tell. I have asked them 4 times for there name and address. All four times they have ignored my request. I have told them I want to arbitrate per their own terms but I need an address and name to arbitrate. They refuse to provide it. Anybody who wants to discuss this further or be part of my lawsuit against forex conductor, please contact me at forexconductorscam@gmail.com
Denver, USA,
Feb 15, 2012,
Guest

I have to say the people complaining here really seem to fall into a very similar category or type of traders. People appear to be moaning about the monthly fees, leverage, etc., which in all cases can be resolved with reading, looking at history statements and common sense. I'm giving this system 5 stars and yet I came in just when things started getting difficult in Jan performance wise, but with patience, it is recovering rather quickly and showing it's "good side" again.

I just hate seeing something get bashed by people that jump too quickly to complain, without putting in literally 10 minutes of work and realize what they are getting themselves into. I can't say I am unhappy with this system, and though my personal timing wasn't fun, it's still fine.

This is a swing trader by all means and requires patience and common sense. I have literally one complaint about one particular trade that was just left open too long. I'm grading that as a "one-off", and again the wheels are spinning well. Bottom line, keep your risk tolerable and chill out.

If you're trying to knock it out of the park than obviously you're going to be ripping your hair out by the roots in the event of any drawdown, which is just part of any normal trading scenario.
San Diego, USA,
Feb 11, 2012,
Guest

I am a believer in their system, I began a few months ago and like their trading style and my trading profits prove it. Jan was an off month, but I am okay with the occasional slow down in trading and I have never gone into negative balance with them. Maybe it's healthy and they'll rebound even more in the coming weeks (i hope so!). This last week they recovered with good profits. I recommend this to anyone who is looking for a good system and is going to trade for more than a couple of weeks.
USA, USA,
Feb 6, 2012,
Guest

Ok, if you need to know anything about this site, know this... Whether you were charged $97 initially and then $48 a month OR you were charged ONE FLAT RATE of $197 WITH NO MENTION OF THE MONTHLY FEE, you will STILL be charged the monthly $48 fee regardless. They MAY mention this monthly fee in the small print, but this is unprofessional and deceiving. They have multiple sites you can go to, but with the same URL. Are they testing sites or something? One day, it's a site that says $197, which is what I was charged, then the other day it's a site that says $97 a month plus $48 month thereafter. Liars, cheaters, plus the signal service is horrible. You lose money every which way with these guys. STAY FAR AWAY! You've been warned.
Washington, USA,
Jan 22, 2012,
Guest

Hopefully last follow-up. Just wanted to make everyone aware that it's not enough to request a refund, you also need to specifically ask to be cancelled from their reverse billing process for the monthly licensing fee...

My follow-up reply to their monthly licensing fee...

According to your Terms and Conditions, I need to cancel everything so I won't be automatically charged your licensing fee of $48 every 30 days. Consider this my cancellation request and provide me with a confirmation reply that you have cancelled everything including the monthly licensing fee.

I await your earliest reply,
Ross


C. Software Download and Licensing
The initial software purchase and download term is 30 days. You have 14 days from the date of purchase to request a refund. Upon cancellation and account termination, ForexConductor in its sole discretion shall have the right but not the responsibility to delete all of the account information provided by you. If you are entitled to a refund, you will receive any refund due as a credit to the same credit card or checking account that was charged initially. If members do not choose to cancel they will be charged a monthly licensing fee of $48.00 which automatically renews every 30 days and charged to the card last used on the Site. ForexConductor is not obligated to send you any renewal or advance billing notices indicating that your credit card will be or has been charged. You are financially responsible for licensing fees until ForexConductor receives notice of cancellation via email at support@ForexConductor.com or by calling 818-581-4721. You may cancel at anytime. However, please note is our policy to give neither full nor pro-rated refunds for the current month or any preceding months.

2012-01-22 No Rating
Hello,

I've never heard of a 14 day refund policy for forex software. I will be posting your follow-up reply to FPA to make sure that no other unsuspecting persons will get scammed by your unscrupulous Terms and Conditions.

Still very unsatisfied and disappointed in your lack of cooperation for my request for a refund,
Ross

--------------------------------------------------------------------------------
From: support@forexconductor.com [mailto:support@forexconductor.com]
Sent: January-22-12 3:31 PM
To: Ross@AAces.com
Subject: RE: Urgent ... Posted to FPA...RE: Request for a full refund...
Importance: High

Hi Ross,

Thank you for contacting us.

The terms of the refund policy is disclosed in the terms, which affirmative acceptance of such is required at time of the order. You can view the terms on the link that is provided on every page on our site. Your purchase and registration was made on December 26 and we received your notice of refund request on January 19. We process refunds promptly when the request is made within the two-week period.

C. Software Download and Licensing
The initial software purchase and download term is 30 days. You have 14 days from the date of purchase to request a refund.

Thank you,

Support
ForexConductor.com

2012-01-19 1Star Trying to get a refund...I purchased the software on Dec. 26/2011 and since I can't trade with the software at this time due to personal reasons that have come up, I asked for a refund and this is what they replied back with...

----------------------------------------
Hi Ross,

Thank you for contacting us.

You may cancel your trading subscription anytime. We are unable to issue a refund since it is outside the 14-day refund period. Please advise if you wish to cancel or continue trading.

Thank you,

Support
ForexConductor.com
----------------------------------------

I replied back letting them know that there was nothing mentioned about a 14 day refund period.

I will keep you posted on the outcome. I haven't heard back yet to my follow-up. Hopefully I won't be forced to put in a charge-back and follow up with FPA's Trader's Court.