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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.

 
 
 
 
 
 
Tested Result: N/A
Forex Neutrino
 

Updated: January 2010

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: Forex Neutrino is semi-automatical signal software

The Bad: Bad user manual

 
 

I received a lot of emails to review the Forex Neutrino. However I have read too much negative information about it so I decided to miss it. So there is no review here and no ratings. The only information I know is Forex Neutrino is semi-automatical signal software with some bad manual.

The marketing page has a funny "red flag". Take a look:

I have made this screenshot because I am sure they will fix it asap. The developer deposited 3000 usd and made a profit of 706 usd in closed trades which resulted in 66K of proft LOL :)

 
 
 
 
Tested Result: testing
PipAndroid
 

Updated: February 2010

Profitable: TBA

Easy To Follow: TBA

Honest Result: TBA

Support: did not test support

Bonus Value: TBA

Results: TBA

The Good: Good backtest for 2009

The Bad: Just one more Asian session scalper

 
 

Pip Android was released in February 2010. This expert advisor uses four pairs: EURCHF, USDJPY, GBRUSD, AUDNZD and works on two timeframes - H1 and H4.

This EA shows stable results on backtests and nice profit. Backtest on H4 timeframe is better than on H1. Pip Android developers recommend that you use it on H4 timeframe, because it is better for the low risk trading. Don't use this robot on timeframe below H1 - it will make unpredictable results. Drawdowns are not so small, but for long term tests it's Ok. Good news is Pip Android is not so sensitive to the spread.

This system is easy in use if you have some prior experience in forex trading and this EA provides a set of free pre-launch bonus indicators and exclusive discounts. Website of this EA contains complete backtest results and a forward test as well.

Pip Android performs good only during normal market. It can be unstable during weeks with high impact news releases, so beware and don't leave it unattended!

As ever I was among betatesters. I was betatesting the robot and here is the first backtest:

pipandroid backtest

Its hard to draw any conclusions now. I have placed it on the forward test. Robot looks good so far. However the strategy does not look new - it seems it is new Ausian scalper for EURCHF.

 
 
 
 
Tested Result: testing
Primeval EA
 

Updated: February 2010

Profitable: 7/10

Easy To Follow: 6/10

Honest Result: 7/10

Support: good support (received 1 reply)

Bonus Value: 6/10

Results: 4/5

The Good: Good trading results

The Bad: Some strategies are not genuine and stolen from fapturbo and forexshocker robots

 
 

The developer of the Primeval EA Sergio C. was kind to share a betatesting copy of the Primeval EA with our team. Primeval EA offers "6 Advanced & Very Profitable Strategies - All In One"!

The trading and backtest show good results however after analyzing the code I was upset that some of the strategies inside the Primeval EA are stolen from other commercial robots. For example I found code from fapturbo and dragonpips (forexshocker). I have asked the developer about this issue.

Here is his reply: "OK I admit that I took some ideas/strategies from other EAs that I considered profitable, however my EA doesn't perform similar to these ones, I improved/changed many things.

Other strategies like "FiveMA" and GBPUSD_Hedging are original. For example GBPUSD_Hedging uses such indicators like ADX, MA, ATR, RSI.

Scalping Strategy Backtests 2005-2010

Primeval-EA EURUSD 2005-2010 Backtest:

Primeval-EA USDJPY 2005-2010 Backtest
Primeval-EA USDCAD 2005-2010 Backtest
Primeval-EA USDCHF 2005-2010 Backtest
Primeval-EA EURCHF 2005-2010 Backtest

Grid Trading Strategy Backtests 2005-2010

Primeval-EA EURCHF 2005-2010 Backtest:

Last orders is closed at stop! It is reflected on the graph.

Hedging & Pyramiding Backtests 2005-2010

Primeval-EA GBPUSD 2005-2010 Backtest:

Last orders is closed at stop! It is reflected on the graph.

 
 
 
 
Tested Result: testing
Forex Pitbull
 

Updated: March 2010

Profitable: 5/10

Easy To Follow: 5/10

Honest Result: 7/10

Support: did not test support

Bonus Value: 5/10

Results: 2/5

The Good: Trades several pairs. Good backtest results

The Bad: Martingale grid system, huge drawdowns and small profits

 
 

Forex Pitbull was released in March 2010. The developers of this robot claim that Forex Pitbull was profitable during last 10 years. I have tested it from 2005 and got good results on my backtests. Robot shows good performance during more than five years. Forex Pitbull is not so sensitive to the spread. However the strategy is very risky and involves grid + martingale lot doubling so make sure you use 0.01 lot!

The robot does not use standard levels of Take Profit and Stop Loss, these parameters are calculated automatically, depending on the market conditions.


Forex Pitbull backtest on EURCHF

However Pitbull has its weak points as well. First of all, the developers of Forex Pitbull claim that it works with every currency pair and they suggest that you put it on 22 charts, but it isn't right.. for example, if you test this expert on GBPUSD pair you will be surprised to see the stop out even if you used 0.01 lot, therefore I recommend using Forex Pitbull with only standard currency pairs without GBPUSD.


Forex Pitbull backtest on GBPUSD shows total loss

Forex Pitbull provides a set of bonus indicators and useful documentation. Website of this EA contains complete information and a forward test as well.

This robot shows stable enough results and I already placed Forex Pitbull on my account for the forward test. You will see my results of the trading and my full forwardtest later.. Take care!

 
 
 
 
Tested Result: fail
GBP Bot
 

Updated: March 2010

Profitable: 3/10

Easy To Follow: 6/10

Honest Result: 3/10

Support: No More Support

Bonus Value: 0/10

Results: 1/5

The Good: Nothing good.

The Bad: Huge drawdowns. The risk/reward ratio is terrible

 
 

I have tested this robot on history:


Forex Pitbull backtest on EURCHF

It is awful! Drawdowns are too high!!!

The developers of this EA claim:

"The settings above highlighted in Red settings. The settings are not meant to be changed. If you are an experienced Forex investor with insight to the market, then you may benefit from casual adjustments.

However, if you are new to Forex or simply do not yet have the market insight to know when to adjust the settings, you are better off leaving them always at their default values as these are designed to be profitable in the long run."

However the backtest shows a sad picture. The risk/reward ratio is terrible - 300 pips SL for a 5 pips gain! Moreover be careful with GBPJPY currency, spreads may be high on some brokers!

The robot website looks like scam - incomplete backtests that show only proper periods with profits, so called "live trading" results for 9(NINE) lol happy days of trading that are not updated in real time. beware!

This is hilarious. I tried to contact their support. Here is what I received: Thank you for contacting No More Support. This is an automated response." does that sound funny to call support company "no more support?" Their site is http://nomoresupport.com LOL

 
 
 
 
Tested Result: testing
Forex BackPanter
 

Updated: March 2010

Profitable: 5/10

Easy To Follow: 5/10

Honest Result: 3/10

Support: did not test support

Bonus Value: /10

Results: 2/5

The Good: Nothing good.

The Bad: Red flags on the website, bad backtest on GBPUSD

 
 

Forex panter website looks like one more junk $97 robot to me. The website has too many red flags. For example main proof "live traded account" is not really updated in real time. Just compare the time. The updates were stopped 2010 February 5.

All other claims like "$186,221.40 in NET profit!" also don't have any proof. Seems developers do not trade it at all. No links to Mt4stats or MyFXbook are shown as well.

Update: here are some backtests:


BackPanter Backtest on EURCHF


BackPanter Backtest on GBPUSD

However long backtest shows total failure:


BackPanter Backtest on GBPUSD

 
 
 
 
Tested Result: testing
Forex Torpedo
 

Updated: March 2010

Profitable: 5/10

Easy To Follow: 5/10

Honest Result: 5/10

Support: did not test support

Bonus Value: 0/10

Results: 2/5

The Good: Trades several pairs. Very cheap.

The Bad: Backtest does not show good results

 
 

Torpedo looks like one more $97 junk bot to me. All the backtests except USDJPY show terrible results. The developers did not bother to show any proof of trading at all. Conclusion - nothing interesting here. Cheap low quality robot.

Forex Torpedo EURUSD 2005-2010 Backtest:


Forex Torpedo AUDUSD 2005-2010 Backtest:

Forex Torpedo GBPUSD 2005-2010 Backtest:

Forex Torpedo USDJPY 2005-2010 Backtest:

 
 
 
 
Tested Result: fail
Forex Ripper
 

Updated: March 2010

Profitable: 3/10

Easy To Follow: 5/10

Honest Result: 3/10

Support: did not test support

Bonus Value: 3/10

Results: 1/5

The Good: Nothing good.

The Bad: Bad backtest

 
 

Nothing interesting here. ForexRipper is just a new $97 junk bot from the developers of forex magicbullet.


ForexRipper EURUSD backtest

 
 
 
 
Tested Result: Scam
FX Zapper
 

Updated: April 2010

Profitable: N/A

Easy To Follow: N/A

Honest Result: N/A

Support: N/A

Bonus Value: N/A

Results: Scam

The Good: Nothing good.

The Bad: EA is stolen from free EA called Xbars MA Scalper

 
 

FX Zapper is a scam EA from the "developers" of old scam called FxBrokerBuster. As you remember FxBrokerBuster was stolen from the free EA called Donchian MA Scalper from the Elite section of funyoo’s tradingsystemforex forum. After 4xProject busted the scammer he decided to stop the sales and came up with new idea...

Imagine what happened? He simply took another free EA from poor funyoo guy and called it FX Zapper. The free EA was originally called Xbars MA Scalper..

What a shame. Beware guys.