ForexLegend.com Review

I was having some early success with this EA but as with an earlier reviewer I soon suffered stop losses outweighing profits.. Unfortunately the user defined parameters are very sparse. There is a non adjustable money management system that is very aggressive and the EA asks regularly if you want to proceed with lot sizing based on current balance..if you respond NO, the EA just hibernates. It has a number of bugs such as the GMT offset which goes wild at the opening of the trading week and will trade when it is not supposed to. My various support enquiries were never answered and now the authentication process has ceased to function. I think this EA is a case where the marketing was ahead of the product development and it doesn't surprise me that the vendors have gone to ground. This is another EA that has been binned.

I believe these guys have done a runner.... Support and EA Site is down and the support email address of support@forexlegendsupport.com
is now not responding and getting non deliverable reciepts & the EA has stoped working.

Shame as the "Trend Follower" software was working ok - Scalper was wiping out to much on stop losses after some small + trades.

Scam

And finally my my last use of forex Legend. I ran trend follower on demo for a month to see how well it did by itself. Fantastic results. I couldn't wait to try live account after that. So, I depositrd $1000 US Dollars in my live account and within 2 weeks it damn near wiped me completely out. The same trades on another demo account at the same time showed me winning. My advise..... Stay away from this toxic piece of garbage.

2010-08-28 09:34 No rating This is my 1st EA. Not my last. I approached this as educational as I am new to Forex. I nevr bought this as a test to get money back so I could offer a perspective on it's merits alone. So here we go. Using Uk platform, (not IamFX), I ran Scalper mode only straight out of the box. No modifications to settings. It gave me many small wins that were completely wiped out by occasional losses that took me backward the entire 4 weeks I ran it. Iturned off the scalper mode because this was enough to convince me it IS flawed. Switching to trend follower for about a week now. To be fair, So far, it has recovered my losses, and has 5 winning trades in a row. I will run this for the rest of August and Seprtember. If it keeeps going the way it's going, I will use a live account. I'll keep you posted if it starts losing. Stay tuned.

It performs better then any EA I have tried. In three demo accounts, it made an average 20 percent a week for me... BUT on the live account, it did nothing. Loses equal winning trades. Makers ask to operate one chart per account, I did this yesterday, and it did not trade at all... very confusing. Same EA performs differently on two demos, even on the same broker, same settings. Try it for yourself. It looks like a game of chance, which is turning against you once you put it to the reality test.

This EA is the worst. My results are simular to the FPA demo account. They promise a 14 day refund. Adding insult to injury, I asked for a refund on day 12. So far they are refusing. Plimus says that they require 14 days of statements running exclusively Forex Legend. As I explained to them, if I ran this piece of garbage for 14 days, I would be past the 14 day time limit to get my money back. They put you into a no-win situation. My opinion of Plimus is getting lower all the time. I should have learned my lesson regarding Plimus from the Forex Royal World Cup debacle. They refused my money back on that $1,000 piece of trashware too. I had to get my credit card company involved to get my money back. I probably will have to again. Word to the wise - do not bother with this EA and NEVER deal with Plimus.

I have logged two complaints with Forex Legend and so far I have gotten no response from them. I have registered a complaint with Plumus the vendor that the robot was purchased through. Plumus just emailed me and said they have contacted the vendor (Forex Legend) and if they do not respond in two days my money will be refunded. It appears that the Forex Legend people are hiding in the shadows. Thankfully Plumus seems to be on top of it.

Randy Churchill

This Ea is one with worst results what I seen. They have 15 days "no question " refund guarantee, but when you try to get you money back, they will do anything to expire 15 days and you will stay without your money. Don't buy this. When I asked refund they suggest me to change broker to IamFX.com. Bellow is our conversation from their support area:

Damir Pavic
Posted On: 02 Aug 2010 7:54 AM
Hello, in accordance with your money refund guarantee, I ask full refund.

Hello Damir,

Thank you for purchasing Forex Legend.

Your receipt number is: 40214339

You can access your ForexLegend Download Page at:

https://www.forexlegend.com/dlg/flmembers/

using the following login details:

Username: zimskaguma@gmail.com
Password: 40214339

Best wishes,

The Forex Legend Team!

Regards
Damir Pavic
Will
Posted On: 02 Aug 2010 8:45 AM
Hello, Damir Pavic.

It is very sorry to hear that. We ask you not to do hasty decisions. We recommend you to compared Legend on other brokers using demo account. We recommend you use IamFX.com
Regards,

Will
Forex Legend Support Team
Damir Pavic
Posted On: 02 Aug 2010 9:09 AM
No, thanks. I don't wanna change broker because one EA. I had problems with this EA, and I don't want it anymore. This is my last.
regards
Damir Pavic
Dave
Posted On: 02 Aug 2010 11:43 AM
In order to make a refund, please follow the link:
http://home.plimus.com/ecommerce/buyers/buyers-support?ref=
Damir Pavic
Posted On: 04 Aug 2010 9:04 AM
Hello, why now you make problems? Would you my back my money or not. I sent
refund request and you're close ticket as resolved without refund.
Your refund policy are for foolish people. But I don't want stop. I would
escalate this problem to Plimus and then, be sure you'll back my money.

2010/8/2 Dave

> In order to make a refund, please follow the link:
> http://home.plimus.com/ecommerce/buyers/buyers-support?ref=
>
> Ticket Details
> ===================
> Ticket ID: ZBH-616307
> Department: Sales Department
> Priority: Critical
> Status: Open
>
>

Max
Posted On: 04 Aug 2010 9:59 AM
Hello!
Please check your email, we answeared your ticket.

Maxim
Forex Legend Team
Damir Pavic
Posted On: 04 Aug 2010 10:13 AM
You didn't get answer to my request. There is no such email. You redirected me to Plimus dispute where you close my refund request like resolved without refund. That's all. Is this some game?
I don't play games. Give me my money and good luck.
Max
Posted On: 04 Aug 2010 12:20 PM
Dave wrote:
"In order to make a refund, please follow the link:
http://home.plimus.com/ecommerce/buyers/buyers-support?ref="

You can refund thru your plimus account.

Maxim
Forex Legend Team

After that no one word from this guys.
I escalated the dispute to Plimus and still waiting what will be.

I read that the Forex legend is a straight copy of an EA named "Maccimo". Just do a search for cacus Maccimo EA. The author claims his code is almost exactly the same. They even forgot to translate som expressions from italian to english.

I bought this EA on day one because of the 52 live accounts on forward test that were claimed to be at no loss. From the voice on the presentation, I could hear that the system was released by an individual/company that have released many robots previously, which made me a little nervous, because they release many systems, which dosent mean its a bad thing, but they are obviously busy marketing and releasing products like this all the time.

My second annoying concern was when you purchase these products via click bank with these companies you tend to get taken from one screen to another asking you if you want the more advanced version etc etc......why not just sell it complete for a price?....do they really think we are all that stupid as to be sucked in by these marketing ploys, for me it really leaves a bad taste in the mouth and surely must affect there street cred some what.

Anyway as for results so far, Ive been running demo on the scalper and trend follower on Alpari UK and FXcbs (ECN)

Alpari UK has placed 25 trades with 21 wins and 4 loses.

FXcbs has placed 44 trades with 36 wins and 8 loses for £554.87
Wins = £422.82 and loses = -£132.05, so far so good!

Both brokers have trades currently open on the trend system and are both negative on EURUSD. But as they have not closed its unfair to comment at this stage.