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ForexGrowthBot.com (Eugene Lipinsky) Review Visit site

Updated: May 3, 2017
3.219 · 38 REVIEWS
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The ForexGrowthBot MT4 EA is a forex expert advisor. The Forex Growth Bot automated forex trading software for the MetaTrader platform has been forward tested on live accounts by the Forex Peace Army™ The ForexGrowthBot.com forex robot trades primarily on EURUSD and uses the 15 minute timeframe

ForexGrowthBot.com (Eugene Lipinsky)

Performance tests

StatusAccountProductP/L Weekly,%Weeks testedP/L Gross,%
Forex Growth Bot-W-0.09119-10.14
Forex Growth Bot+1.36244.8+2,644.71

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3.219 · 38 REVIEWS
Forex Peace Army
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Ronald,
Sydney, Australia,
Mar 12, 2016,
Guest

After a good start (1st month) the Growthbot proceeded to trade way in excess of my settings and even the default settings. By day 8 of second month I received a margin call from broker. The last trades by this piece of rubbish were a martingale type of catch up trade which wiped out most of my account in 3 trades. My advice from their help desk was "you must have set it up wrong". That this bot trades in excess of your settings and in excess of any percentage of your capital makes it a VERY bad choice for anyone considering purchasing it. My advice is don't purchase.
Jaitinder Singh,
, United Kingdom,
Aug 20, 2013,
Guest

I had the power version haven't used it in over a year so you might want to bear that in mind when reading this. The power version allowed so messing around with the code and I managed to make what I thought were improvements. However the issue I had with it was that it would sometimes (too often) lose track of trades. I also remember one time when it opened a trade in the wrong direction. What is most frustrating is that I think the strategy it uses does work however I found the actual implementation to be wanting (as evidenced by the issues I have raised). If it didn't have these problems I would have rated this product as good/excellent. However my experience is more akin to the bad rating. Again I point out my experiences were with the older v1.6 I think. I do not know how the newer updates compare.
John Heal,
Brighton, United Kingdom,
Aug 8, 2013,
Guest

I used Forex Growth Bot from 1/8/2011 and 31/12/2011, judging by the figures I had been given this should have been sufficient. Leaving it untouched with stakes of 0.1 lots it managed to lose over 1000 pips (£780 UK pounds over $1000 US). I think the worst part of the system is if you drop your internet connection all your trades close when you reconnect. I notice there do not seem to be any new figures on their advertising either. They talk about the low 40 pip stops but I had very few winning trades above 40 pips and I had 19 consecutive losses so at 40 pips each that is considerable.

I now use my own EA's to trade now which I do not sell, why would you as a trader if they are profitable and earning you a good salary?
John Derek,
Dagenham East, United Kingdom,
Jun 24, 2013,
Guest


I have been running FGB from the last 2 years, it was working great, however lot of disappointment now and it is making losses and wonder it would ever recover.

I have turned off and continue watch vendor account, if it start recovering then I will explore again.

Now 3 stars and if it do not recover then it will lead to FORGET EA.
Scott Wang,
, USA,
Jan 16, 2013,
Guest

Hello, I would like to add an update to my previous review of FGB (April 2011) with some additional information.

Lessons learned for successful trading with Forex Growthbot:

1) If you bail out after a small drawdown, you are guaranteed to lose with this EA. You must trade it consistently for a long time (multiple months) to experience overall success with this strategy.

2) Be careful about increasing the lot size immediately after a big gain. The market goes through periods of ranging and trending. This strategy will make gains during the trending markets. If you increase the lot size right away after a big trend/gain, your drawdown during the ranging period will be larger than it needed to be. Wait for your account balance to increase and stablize for awhile before hiking up the lot size. Don't get greedy.

3) You can try, but I suggest not trying to guess when the EA will do well or poorly. Set up the EA, leave it alone, don't touch it, and let it do its thing.

4) Be wary of the technical glitches. If you restart MT4 it may suddenly close all of your trades prematurely. It's the only thing I really dislike about the EA, but considering the fact that it has remained successful for over 2 years, it still deserves 5 stars.

Scott Wang

2011-04-07 5Star Hello world of FPA visitors,

I think GrowthBot did a good job with this system. The biggest thing I like is that it tries to trade *with* the recent trend, and it pyramids on additional orders while the currency is moving in your favor. This allows it to take some pretty big wins while limiting the losses the best it can. The biggest losses I've seen are 30-40 pips.

I'm pretty sure their technical issues are fixed now. I've been trading it live now for about a month and made $222 on my $5,500 live account but I'm trading it at a very, very conservative level: only .01 lots per $1,000 balance. That's about 1/4th what they recommend. I'm a conservative trader and I think this 4% gain in a month is great for me and my risk appetite.

Scott Wang
FXEnjoyment,
Amsterdam, Netherlands,
Oct 12, 2012,
Guest

I am not happy at all with Forex Growth Bot I owe a few licences of the Basic and Power version, but all what they do is eating your account. Look at the first picture in Chapter 39 Part II of the FPA Forex Military School, and you know exactly what I mean!!!

http://www.forexpeacearmy.com/forex-forum/chapter-39/20353-chapter-39-part-ii-forex-scam-trading-bots-signals-brokers.html
Mak7-FX,
Lahore, Pakistan,
Sep 14, 2012,
Guest

I have been testing this EA's performance from last 3 months and I found it the best ever EA, I am basically a professional manual trader who hate expert advisors and auto trading but I wonder if an EA can produce such an income or growth, and its specially because it has a trailing stoploss, as other EA's doesnt bother to use stoplosses, I traded it manually on 15mins chart through forexgrowthbot indicator showing green and red arrows on screen.... I bought it from a person who has a blog, he sent me 4 files, forexgrowthbot indicator, a preset file, a library file and an Ea, but it doesnt open any trade but the forexgrowthboth indicator gives signals on the screen, m i missing some file? pls help...
Andy Edleman,
Lausanne, Switzerland,
Jul 1, 2012,
Guest

Wow I don't know who wrote these aweful comments about FGB but if you're like I was a few months ago, looking for good, safe EAs you should know a few things.

1) this site is full of fake comments, I heard they ask for bribes to EA vendors and trash the EA if the vendor refuses... I can't speak to the validity of that

Review Moderation Team Note: You seem to think that people who have a different opinion than you do must be 100% fake. You believe that not one of them could have had any real issues causing them to have an experience with a product different than yours. Based on this, you decided to post a libelous rumor about the FPA.

The rumor you claim to have heard is completely false and easily disproven. The FPA does not take bribes. If you don't believe it, try emailing in an offer to have a negative or positive review for some product removed and see what response you get.


2) FGB is a great EA, it will let wins run long and cut losses short. It has a 30 pips stop loss and a 45% win ration. The winning tades can run up to thousands of dollars like last week with the long on EUR/USD right before the european stability pact (I made 3k of that on a 6k account). Don't be fooled by the fake comments. I'm rating this "bad" so it won't be deleted with some luck.

2 Star rating changed to No rating. 2 Stars does not match the opinion given in the review. We aren't going to let an idea this stupid turn what looks like a 4 or 5 star review into a 2 star review.

This product currently has a 3.394 star rating. If you read all the reviews, you'll find a mixture of ratings from 1 to 5 stars. You will also find where we caught a competitor trying to leave a fake review to trash FGB.

We find this claim that a 2 star review is more likely to be approved than a higher rated review to be both insulting and nonsensical.

Andy, you owe the FPA and the other reviewers on this page an apology.

We ask reviews to focus on products in reviews. If anyone else wants to waste our time with silly conspiracy theories, please use the "Contact Us" link at the bottom of the page.


Jake,
Miami, Florida, USA,
Jun 9, 2012,
Guest

I have seen free ea's with better performance than this. Only buy this if you have some money you want to burn. I totally agree with the other reviewer that said this bot knows how to wait until the very top of a trend to place a buy and the very bottom to place a sell. This ea blew 50% of my account in less than a month. Plus on top of that the vps fees to make sure my platform could stay up 24/7. The winning trades are very small wins and the losses are huge, on top of that there are many more losses than wins. Even if you are successful with this ea for a short while, it "WILL" blow your account eventually.
John,
India, India,
Mar 22, 2012,
Guest

Please do not purchase Forex growth bot , Its Very worst ea, basically working process , over bought the ea put the order buy , over sold ea put the order sell, mostly close the trade lose , now fgb release 1.7 is very very bad ea, i will lost my live account equity 50%