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5EMAS-forex-trading A.I. Forex Robot AICashRobot Automated Forex Grail Automatic Forex Crusher BJF, Stomper EA Iticsoftware BankingFx Bogie-NN-v8 EA BullTrader Chameleon 2008 Destiny Forex EA Boss Enterra Forex Star Euro Blaster / EB Turbo FAP-WINNER.COM FAPS: FOREX AUTO PILOT FAPTURBO Robot FAT ForexAutoTrader FOREX-KILLER.com FOREX-MHV FX Equity Builder FX Zapper FXPromaker Fapturbo Evolution Forex Annihilation Forex Apocalypse Forex Auto Cash Forex AutoMoney Forex BackPanter Forex Bling Forex Boomerang Forex Breakout System Forex Brotherhood Forex Conqueror Forex Crescendo Forex Cyclone Forex Decimator / SuperNatural Forex Derivative Forex Detector Forex Espionage Forex Funnel Forex G-Force Forex GRIDbot Forex Godfather Forex Harvester Forex Hope / DTS-1 Forex Insider Pro Forex Juggernaut Forex Kagi System Forex Legend Forex Maestro Forex Mafioso Forex Magic Machine Forex Mega Droid Forex Mercenary Forex Miracle Forex Monster Forex Mutant Forex Neutrino Forex NightFox Forex Nuke / Phantom Forex Pitbull Forex Profit Code Forex Profit Hunter Forex Rebellion Forex Ripper Forex Robot World Cup Forex Samurai Forex Set And Forget Forex Terminator Forex Torpedo Forex Tracer Forex Transformer Forex Transporter Forex Trend Scalper Forex Trend System Forex Typhoon Forex Vampire Forex Wonder Forex-Expert-Advisor ForexAmbush ForexAutoPilot by M.Copeland ForexBulletproof Forexeasystems: EA Shark Freedom Rocks FxBrokerBuster GBP Bot GPS Forex Robot GetToBeRichNow: Forex Hitter GoldenGoose EA IvyBot London Forex Rush London Sunrise EA Most Wanted Forex Robot No Loss Robot PipAndroid PipsLeader Poison Robot Primeval EA Project Pips Range Trader RoboMiner Forex Goldmine Silicon Forex Stealth Forex Steinitz HAS MTF Robot The Forex Assassin The Robotrader Trend Forex 2.0 USDbot Winning-Solution

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Forex Systems Reviews is a 100% free and independent forex service. We never join any affiliate or referral program! We don't charge a fee to any forex service provider nor to our users. All forex reviews are just based on the last test performance of each forex system service.

Hi there! I am Mark Larsen, professional forex trader. My amateur forex trader friends were always asking me to recommend good forex signals to them because you know we are all too lazy to analyze the forex market trends ourselves: boring technical and fundamental analysis and things like that.. So finally I got fed up with these requests and decided to make a report summary on each top forex trading system I found so fellow traders didn't have to search everywhere for the information. To my surprise, I have found that most of the forex signal providers are just mere get-rich SCAMS, promising high profits with no proof and fake reports! So be careful and always read my short forex reviews before ordering such services.

I will try to keep monitoring the services that have already been reviewed so that the information will always be up-to-date.
You see I am an independent forex trader and this site is not supported by any signal service or forex system provider, so my reviews are unbiased. You can watch my video introduction at the left size of this message. You can also join my private group of fellow traders on secrets.bz for free.

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Tested Result: SCAM
Trend Forex 2.0
 

Updated: June -2009

Profitable: N/A

Easy To Follow: N/A

Honest Result: N/A

Support: did not test support

Bonus Value: N/A

Results: N/A

The Good: No personal experience here.

The Bad: Manipulated trading results on sales page

 
 

I have no personal experience with Trend Forex 2.0 system however after reading the scam report by FPA on them I am not interested in this system anymore. You can read the scam report here: http://www.forexpeacearmy.com/forex-forum/scam-alerts-folder/4949-trade-results-so-fake-they-almost-funny.html - according to FPA, Trend Forex showed Manipulated trading results on sales page

 
 
 
 
Tested Result: possible scam
No Loss Robot
 

Updated: November-2009

Profitable: 5/10

Easy To Follow: 5/10

Honest Result: 0/10

Support: did not test support

Bonus Value: 5/10

Results: 1/5

The Good: No Loss Robot is based on Steinitz MTF robot

The Bad: No Loss Robot is a possible scam.

 
 

No Loss Robot is a new robot on the market which claims 100% no losing trades. Obviously there are no systems that can generate 100% winning trades so this one smells like scam to me. Here are the facts:

1. The robot is not a new system but a rebranded edited Steinitz MTF robot sold under a different name
2. The system does not use SL which explains its "No Loss" Claim. That means your trades will be hanging open forever until they reach TP or blow your account completely.
3. Their so called "actual LIVE account statement balance" is a forward test from Demo (!) account. Results are from October 2008 (!! robot was released in october 2009). So obviously results are not actual and not live..
4. "Watch trading in REAL time!" - the iframe is empty and there is no real time publishing available.

We have made the backtest of the No Loss Robots and it showed the opposite picture - total loss:

No Loss Robot Backtest 2009
No Loss Robot Backtest 2008
No Loss Robot Backtest 2007

The marketing page says "No BS, our robot works and WE HAVE PROOF!" and "That's right, SEE A LIVE ACCOUNT IN REAL TIME WITH REAL TRADES!". However all these claims are just BS and are not proven. The result - possible scam.

 
 
 
 
Tested Result: testing
Forex Typhoon
 

Updated: September -2009

Profitable: 2/10

Easy To Follow: 4/10

Honest Result: 5/10

Support: did not test support

Bonus Value: 4/10

Results: 1/5

The Good: Forex Typhoon comes with unlimited license

The Bad: Documentation is bad and the backtest results are poor

 
 

Forex Typhoon works on EURUSD and GBPUSD on H4 timeframe. It opens new trades based on the Heiken-Ashi-Smoothed indicator. The same indicator is used as well to close trades beside a dynamically calculated stoploss.

We could not get any good results from its backtests so seems the claims on the website do not match the real performance. Documentation is rather confusing as well.

 
 
 
 
Tested Result: testing
Forex Mutant
 

Updated: January 2010

Profitable: 2/10

Easy To Follow: 1/10

Honest Result: 1/10

Support: did not test support

Bonus Value: 5/10

Results: 2/5

The Good: 3 Manual systems

The Bad: Not a fully automated system. Involves a lot of manual trading work. Too much Hype around it.

 
 

You got to be kidding "Forex Mutant"? lol. This is one of the most weird names I've ever seen for the forex system.

First bid disappointment - Forex Mutant is not a EA. It is a manual system.The site says you can trade any pair in any time frame of 15 minutes or more. It says it's better than an EA because you learn to use your judgment as to when to trade signals. Sounds like we're back to the subjective manual systems that tell you "when you might want to trade."

They also give some selective performance, but don't tell you which pairs or time frames they're trading. I guess they can just cherry pick the ones that worked best in the past.

The first system is an indicator that doesn't show anything on your chart, but gives signal alerts when a signal occurs. Default settings are tp of 5 pips and sl of 45 pips, but you can change this to whatever you like. You need to adjust these for the spread otherwise MT4 won't accept the trade unless you are using Forex Executor Pro.

They also offer 40-60 pip trend following system and two indicators 70-100 pip breakout system! All of them have proved to be inconsistent. Profit comes along but one SL can wipe it all. One more disadvantage - the advanced version indicator repaints which means that new signal dots appear "on history" when you reload the chart but you don't get them in a real time trading..

 
 
 
 
Tested Result: testing
Forex G-Force
 

Updated: January 2010

Profitable: 4/10

Easy To Follow: 7/10

Honest Result: 7/10

Support: did not test support

Bonus Value: 5/10

Results: 3/5

The Good: The default risk:reward ratio is 1:1

The Bad: Sales are closed. Backtest is not good for 2008

 
 

I got several requests to review the Forex G-Force. This one looks interesting. I notice that the vendors have taken it off the market. I see that risk/reward ratio is better than most ea's. The default risk:reward ratio is 1:1. Thus the profit target and stop loss target is the same at 160 pips.

Forex G-Force is a trend following EA which trades during a specific time of the day. It enters new trades based on price action and some verification by RSI, MFI and CCI-Channels. The backtest does not show any good results for 2008 on EURJPY and GBPJPY.

The product is somehow connected to the Forex Nemisis creators. Sales has been closed for some reason.

 
 
 
 
Tested Result: testing
FX Equity Builder
 

Updated: January 2010

Profitable: 6/10

Easy To Follow: 7/10

Honest Result: 7/10

Support: did not test support

Bonus Value: 5/10

Results: 3/5

The Good: Equity Builder is an aggressive robot which either produces high returns or wipes out your account.

The Bad: Equity Builde uses Martingale scheme to double the lot sizes

 
 

Equity Builder homepage is simple. They use so called "NO B.S" style of marketing. "We’re not here to impress you with screeds of testimonials and complicated jargon."

The Equity Builder comes with a short limited 4 page manual. The robot enters trades based on Stochastic and Moving Averages. It also uses Martingale scheme to double the lot sizes in case of a loss. The additional trades are made a distance of 20 pips and limited to a maximum number of 8 open trades. This means that in worst case the whole account will be at risk as it may open a lot of trades with increasing lot size. With the Version 1.5 FX Equity Builder introduced the possibility to define the maximum number of open trades. Robot trades on EURCHF M5.

Conclusion: Equity Builder is an aggressive robot which either produces high returns or wipes out your account.

 
 
 
 
Tested Result: testing
FxBrokerBuster
 

Updated: January 2010

Profitable: 5/10

Easy To Follow: 7/10

Honest Result: 5/10

Support: did not test support

Bonus Value: 5/10

Results: 2/5

The Good: The default takeprofit is higher than the stoploss which is a good thing.

The Bad: Not enough proof with forward testing, bad backtest

 
 

Fx Broker Buster trades on EURUSD M5. The homepage contains traditional hype about turning $3000 into 1 million which is of course based only on backtests.

This robot enters one trade at a time based on fractals and some filtering. The default takeprofit is higher than the stoploss which is a good thing. Another good thing is that it has some enhanced logic to exit a trade. It closes a trade based on internal indicators as well if neither takeprofit or stoploss are reached but the market condition does not fit its expectation any more.

The claims on the homepage are high but I have been able to reproduce close results in my own tests. The website says that EA is optimized for 2009 so I did not get any good results for past years.

The new version of FxBrokerBuster uses updated settings, automatically adapts to 4-/5-digit price quotes and support ECN-Style brokers.

 
 
 
 
Tested Result: testing
A.I. Forex Robot
 

Updated: January 2010

Profitable: 5/10

Easy To Follow: 7/10

Honest Result: 5/10

Support: did not test support

Bonus Value: 5/10

Results: 2/5

The Good: Reasonable strategy for EURUSD 1H

The Bad: High drawdowns on the backtest. The EA might just be optimized for 2009

 
 

The A.I. Forex Robot trades on a EURUSD 1H chart. It is nice that they actually describe the trading rules of the EA in the manual. I did get a backtest 2005 until today. Well, drawdowns are more like 85% and I looking at that backtest. The EA might just be optimized for 2009.

I would argue there is not much AI in there (or it might be a matter of definitions) but sometimes simpler strategies seem to generate good results.

 
 
 
 
Tested Result: N/A
Forex Mercenary
 

Updated: January 2010

Profitable: N/A

Easy To Follow: 0/10

Honest Result: 0/10

Support: did not test support

Bonus Value: N/A

Results: N/A

The Good: Nothing good. Total blackbox.

The Bad: Not an automated system, requires manual work. No way to backtest the system in MT4.

 
 

I've got tons of emails to review the Forex Mercenary.

The Forex Mercenary comes in a way of total black box. They have developed a Java Software which promises to use "advanced statistical models that take into account a broad array of information relevant to the particular instrument they are trying to predict". The system claims to use Bollinger Band indicator and some currency correlation methods. That sounds good however we have 2 major problems:

1. The system is not automated. It simply gives you signals but you have to sit whole day and wait for the signal to arrive and place it manually in metatrader.. This is outdated approach and in the era of forex robots nobody will do that I am afraid.

2. There is no way to backtest it properly in Mt4. The "included backtest feature" is like a joke. Take a look:

It has no detailed statistics, no signal details, no pips gains/loss.. only "prediction Down.. Outcome: Win".. that gives me no information on how the system actually performed in the past.

Moreover the developers did not bother to publish any real time trading results on their site so I suppose they don't trade it as well.. Bottom line - total black box. Don't ask me to review it, guys. I have no time to sit whole days and wait for the signal. I dont know if it is good or bad. I trade with robots, I develop robots and I review robots..

 
 
 
 
Tested Result: testing
Forex Transporter
 

Updated: January 2010

Profitable: 5/10

Easy To Follow: 5/10

Honest Result: 5/10

Support: did not test support

Bonus Value: 5/10

Results: 3/5

The Good: Good backtest for 2009

The Bad: Uses some sort of martingale strategy. Long Drawdowns

 
 

The Forex Transporter EA is made by the "Next generation fx trading" company which released such EAs like forex knight rider, forex godfather, jaggernaut etc. All these EAs use the same marketing ideas: cherry picked trading screenshots, no live trading results, no complete backtest.

Here is what people say on forum about it: "Right, these guys are so busy putting new EA's on the market that they totally abandoned open issues with their previous GodFather." One more note: "This one doesn't seem to be a martingale in the traditional sense - ie increasing lot sizes to overcome a loss or losing position. This seems to simply place another trade in the same direction when there is a losing position, and aim for a larger TP. Then all these trades close together with a positive balance."

The Forex Transporter EA works on EURUSD pair and uses so called "automatic profit equalizer" which means it increases the lot sizes like in martingale strategy. You need a reasonable balance to trade it because it can get into large drawdown.

For example in my forward test it made 125.0 usd of profit trading 0.3 lot on 5000 usd account with a floating loss of -4 009 (!!!) So be careful, guys!