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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: 256 pips
Forex Nuke / Phantom
 

Updated: January 2010

Profitable: 8/10

Easy To Follow: 8/10

Honest Result: 10/10

Support: did not test support

Bonus Value: 7/10

Results: 5/5

The Good: Good and consistent robot: both in backtest and forward test

The Bad: Does not trade often. Weak documentation. Trades only one currency pair.

 
 

Forex Nuke is a clone product of Forex Phantom. Both EAs have the same code but the vendors co-exist in peace. Seems they both bought the same code from one source programmer and redistribute it.

The Forex Nuke robot trades EURUSD M15 based on Moving Averages and Commodity Channel Index indicators.

The backtest looks very consistent for 2007-2010 years. Take a look:

The main disadvantage - the robot trades only one pair and does not trade often. It can sit and wait for trades for many weeks without any trading activity at all.

Forex Nuke comes with full money back clickbank guarantee plus they provide a set of bonus indicators and videos. Vendor's website also contains complete backtest results and a forward test as well.

My opinion - Forex Nuke is one of the rare good EAs that you can add to your trading portfolio in 2010.

 
 
 
 
Tested Result: 156 pips
Forex Cyclone
 

Updated: October 2009

Profitable: 7/10

Easy To Follow: 8/10

Honest Result: 8/10

Support: good support (received 1 reply)

Bonus Value: 0/10

Results: 4/5

The Good: Good performance on EURUSD pair

The Bad: Unstable during weeks with high impact news releases

 
 

Forex Cyclone was a nice exception among a number of crappy EAs that came out on the market lately. The sales pitch contains traditional marketing BS and million dollar claims however the real performance of Cyclone was surprisingly good.

I have tested this robot on EURUSD M30 for about a month and get good results. I also found out that robot can be used on some other pairs like GBPUSD, AUDUSD, EURGBP and USDCHF. Make sure you are using low spread broker like Iamfx.com or something like that. You can also try adjusting the parameters for other pairs, for example: S/L = 60 T/P = 30

Forex Cyclone 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!

 
 
 
 
Tested Result: 1210 pips
FOREX-KILLER.com
 

Updated: February -2009

Profitable: 7/10

Easy To Follow: 6/10

Honest Result: 8/10

Support: replies within 12 hours (tested via 5 E-mails)

Bonus Value: 8/10

Results: 4.5/5

The Good: The sofware REALLY works! Simple but True!

The Bad: he bonus books are too simple and not very detailed, maybe good only for newbies, not for experienced forex traders.

 
 

REVIEW: Few weeks ago I found the site of Forex-Killer.com telling me that experienced forex trader Andreas Kirchberger developed "super profitable system generating forex signals for you". I decided to give it a shot. After purchase I got the downloading link and received the Zip archive containing program with several instructions ebooks. First impression was rather bad - the program looked too simple and the bonus "Forex Learning book" was not detailed enough for me because i am a rocky trader so I was very sceptical about it.

Anyway I decided to give it a try on my InterbankFx demo account the same day. First trade was loosing - 30 pips, got the stop loss. But I did not give up and continued my test. I was really suprised next day after checking my trades - signals are really working for me! 3 of my trades for EuroUsd and USD/JPY were in profit with total more than 280 pips! I think using proper money management your can get good results with forex-killer signals.

Update Not long ago they released new version ForexKiller 2.14. I really liked this update, software got a lot of enhancements in interface and more accurate algorithm based on neuro systems. Now I can load the data easily from Metatrader without need for manual input. the effectivity is still high for me. Last week +178 pips on euro/usd and this week i gained +216 pips in 12 trades. not bad.. I will keep you informed on my progress..

Update 2008 The more i trade forex killer the more i like this system. last month was really profitable for me, +270 pips really impressive.

Update March 2008 Good news from Andreas. They released new version 3.32 with pretty features such as trend analyser and money manager. FK is becoming powerful trading tool. I have found really nice blog by Lloyd, forex trader, here http://autofx.blogspot.com/ - he is providing FK winner strategies and trading himself with impressive results (Up-to-date: +760 pips)

Update May 2008 My great friend Mark Larsen have published his video Review of Forex Killer "Is forex killer scam or real deal?" - check it out on my new Video Review page!

Update July 2008 I have found one more great Forex Killer Winner stategy here New Improved Forex Killer Strategy (long term trading)

Update August 2008 Some readers ask me if I still use Forex Killer. Yes, sure, I do. I included Forex Killer in my "top choice" of forex software that I use every day. For example Forex Killer surprisingly predicted the fall of EURO near 1000 pips from 1.6 to 1.5 last week. Global Signal that week was a "No trade". Nice piece of software, just use it wisely in combination with other systems! Don't trust blindly and you will be a winner.

Update November 2008 I heard Andreas and Alex are working on some great software that will automate forex killer and let it place trades for you automatically!! that would be great addon for forex killer soon.

Update February 2009 Great news for all ForexKiller Fans! Forex Killer MT4 Automater AutoFxK v.0.5c is finally released and it is FREE!! (comes as a bonus!) With this nice piece of software called AutoFxK developed by A. Alexander John you can now automate your Forex Killer trading in Metatrader4 platform! 100% autopilot approach! No more boring manual price data loading! AutoFxK was designed to act as a mediator between Forex Killer and your MetaTrader trading platform. It will load the price feeds inside ForexKiller and place /close trades for you automatically!

 
 
 
 
Tested Result: testing
FAT ForexAutoTrader
 

Updated: November-2008

Profitable: 6.5/10

Easy To Follow: 8/10

Honest Result: 8/10

Support: replies within 24 hours (tested via 3 E-mails)

Bonus Value: 0/10

Results: 4.0/5

The Good: Trading Results look good so far

The Bad: Trading is limited to only one currency pair EurUsd. No bonus is provided with the purchase.

 
 

REVIEW: One of our readers Brian Watt asked me to review new Forex AutoTrader (FAT) service.

Forex Auto Trader is a new system by Craig Reynolds, professional forex trader. The system showed great results as on backtest and on the live trading. Craig published his live trading statement here

The FAT backtest results look promising as well:

You know nowadays it's hard to find the vendors who really trust and trade the system they created not just make money on selling their product. So Craig is a nice exception here and that is very important that he trades using his own system on his real money.
The only bad thing I can say about FAT is that it works only on one currency pair, EURUSD and you know this pair's behavior is crazy during the recent month. So be careful, guys!

 
 
 
 
Tested Result: +121 pips
Forex Bling
 

Updated: September -2009

Profitable: 7/10

Easy To Follow: 7/10

Honest Result: 8/10

Support: I did not get a reply for 2 emails

Bonus Value: 10/10

Results: 4/5

The Good: Package of good systems. Forex Bling comes with money back guarantee from clickbank

The Bad: The bad thing is - you can't backtest the systems.

 
 

Forex Bling is a package from Yohanes R. Gagahlin, the creator of ForexHope. The package consists of several robots. Few more robots are promised in future "Due to our schedule, Thunderstorm EA and Grid Specialist EA will be delivered in October 2009. "

Forex Bling has got EAs for every type of trader - from scalping to trendfollowing, breakout and grid system.

Freedom-909 is TrendFollower system based on the FreedomTrigger indicator.
Thunderbolt-909b is the clone of the ForexShocker (which is same as Dragonpips) strategy according to analysis by one of our readers. It is a good scalper for EURUSD and GBPUSD. It trades during the asian session like Fapturbo.
Evolution-909 - on the specific time it opens 2 trades with opposite direction with TP that is 5 times larger than SL.

The bad thing is - you can't backtest the systems. ForexShocker shows good backtest so you can trust Thunderbolt for sure. The forward test also shows good result: http://thunderbolt.mt4live.com. Unfortunately we have no backtests for other systems and it is not possible to do them because of the sophisticated dll-protection.

Few more critics - the support is non-existent, we tried to contact them however never got any reply. The website and EAs were released in a rush - the vendor had to release 4 (!) updates after the launch to fix the bugs. From other other hand it shows that vendor cares about its product which is a good sign.

Good thing is - Forex Bling comes with money back guarantee from clickbank. I believe Forex Bling is worth having.

 
 
 
 
Tested Result: testing
Forex Juggernaut
 

Updated: January 2010

Profitable: 8/10

Easy To Follow: 7/10

Honest Result: 8/10

Support: did not test support

Bonus Value: 0/10

Results: 4/5

The Good: Good and consistent EA. Backtest is good for all years without curve-fitting tricks.

The Bad: Trades only one pair - eurgbp. Spread sensitive.

 
 

Forex Juggernaut website is filled with traditional hype offering you to "CRUSH The Greedy Forex GURU HEAVYWEIGHTS".. lol. The creators are guys from "next generation fx trading" company. They have developed such EAs as forex transporter, forex knight rider, forex kryptonite, forex redemption, forex ironman, forex surgeon, forex godfather and some other EAs with fancy names but poor trading results. That's why I was bit skeptical about this one too.

The EA has a proper logic - the signal is symmetrical and based on Envelopes(5) indicator. The only filter is time. There is no curve fitting inside or tricks with history. That means that EA should work consistently for a long time.

The backtest looks very consistent for 2005-2010 years. Take a look:

Click here to study the full Juggernaut backtest

I have placed the robot for the forward test and report more results later!

 
 
 
 
Tested Result: 212 pips
GetToBeRichNow: Forex Hitter
 

Updated: November-2008

Profitable: 7.5/10

Easy To Follow: 9/10

Honest Result: 8/10

Support: replies within 24 hours (tested via 2 E-mails)

Bonus Value: 3/10

Results: 4/5

The Good: New EA with promising results.

The Bad: Profits are a bit low. The bonus ebook does not have much value.

 
 

REVIEW: This system by Peter Larsen is rather new. I found the site a week ago and decided to give it a try. The site looks "traditional" and does not have much to talk about. So let's get straight to the system test. Forex Beater has one EA that uses 3 external indicators to place trades. I have backtested the system for?2007-2008 and found its result rather promising. The beginning of the year was not profitable but the end of the year brought some nice profits. Take a look on the backtest of Peter's system:

Btw, if you decided to buy it try to close the page first - you will get a nice robotic chat that will offer you additional 10 bucks discount ;)

Update September Beater creators updated their EA and told the members that they are going to optimize the settings every month from now on. I guess you should not miss the update otherwise your version will be outdated!

Update December 2008 Peter Larsen released new expert advisor called Forex Hitter. Results look promising so far!
Peter said "A recent major upgrade of Forex Beater (now marketed under the new name "Forex Hitter" has contributed to the software's rapidly growing popularity through enhancing its scripts and making them flexibly adjustable to the current volatile situation on financial markets. While similar products show mostly negative trading results under the present conditions of a global economic crisis, Forex Hitter continues to secure profits for its users."

Update July2009 Yet another powerful update of Forex Hitter has been released, making the robot even more adjusted to the current volatile market conditions. One can expect an upcoming rapid increase of the EA's profitablility as a result of the update.

 
 
 
 
Live Testing
Forex Robot World Cup
 

Updated: March 2010

Profitable: 10/10

Easy To Follow: 10/10

Honest Result: 10/10

Support: received 2 replies

Bonus Value: Fusion V Robot

Results: Live on FRWC site

The Good: Very transparent and fair robot contest - all EAs are trading LIVE money (not a demo or backtest)

The Bad: Nothing bad so far.

 
 

Are you following the Forex Robot World Cup?

The FRWC was created with the objective of finding the best NON-COMMERCIAL Forex robot in the world through a competition based on solid and transparent rules.

What does non-commercial mean? Simple, robots that are not being sold or marketed anywhere but are solely used by their developers.

Hundreds of independent robot developers from all over the globe joined the FRWC to compete for the #1 Prize... US $100,000 (which is why the FRWC got the BEST of the BEST robot developers to participate)!

Now... the competition has two phases, the qualification phase and the live (real money) trading phase.

As of December 1st, 2009 the live trading phase started with 24 robots out of the 329 submitted during the qualification phase (which lasted over 2 months!)

You can view the live (real money) results of the 24 competing FRWC robots (updates every 15 minutes) here.

...and, by the way, you will also be able to view each robot's real money live account statement so you can see each and every trade it takes as the competition progresses, right through to the end on Friday, January 29th, 2010.

It is truly exciting to finally see an event designed to separate truth from hype...

Update January 2010: Once the live phase of the FRWC is over this coming Friday, the winning robots will be available for purchase (in very small quantities).

February 2, 2010 I was also validating the accounts and betatesting the FRWC bots that will be released to the public on Feb16. So far robots look very promising. I will be able to release the detailed backtests and the results after the FRWC launch.

February 4, 2010 FRWC has released a great interview with FXCM, main sponsor. You can listen to it here.

February 16, 2010 FRWC robot sales will start tomorrow. FRWC announced great Fusion V robot which will come as a bonus. You can check it our here.

As ever I was among betatesters and here is my forward test of the FRWC fusion robot on Iamfx broker. Click Here. FRWC FUSION V BETATESTING RESULTS.

March, 2 2010 FRWC News came out today. FRWC's Royal Trader will close its doors to new members on Friday, March the 5th. They decided to limit the sales to avoid the "oversold" effect and concentrate on the current members. Good move.

The account is trading default settings but the Volcano Strategy is turned off. I don't like volcano strategy personally because it does not work stable enough during the huge downtrend of GBPJPY.

Remember to stick with safe trading lot (0.01 fixed lot per $1000 of the balance) and you may want to turn off Straasha strategy in Fusion to avoid increasing the lot size by its strategy! I am also beta testing the new Hirider which they are going to release to the members in future. So far results are pretty good, i even placed it on the Forex Challenge Account.

March, 2010 FRWC has released a great Hirider Advanced EA. It looks really powerful. I already started the test.


You can listen to my audio review of the FRWC using the player below:



I am getting a lot of questions about Forex Robot World Cup. I’ll keep this FAQ extremely brief. here are some answers:

1. Is Forex Robot World Cup legit?

Yes it is legit. The sponsor is the largest forex broker in the world FXCM Yesterday FRWC released an exclusive interview with Matthew Navie, V.P. of Institutional Sales & Business Development at FXCM
You can listen to it here. Another sponsor - well known Boston technologies. They provided special Metatrader for FRWC!

2. When will be EAs available for sale for traders?

I think it will happen on Feb 16.

3. Did you verify the FRWC trades?

Yes, I have received the investor access and verified the trades of the top performing robots. I heard some other review sites like FPA are verifying the trades too.

4. Are the top 3 as good as they look in the contest?

LMD traded with very high risk but the robot seems very consistent. Hirider looks extremely stable. Supervolcano, Simple, Cobaltfx look good to me as well.

5. Do you worry the contest is only 2 months - that is not very long for a true test.

Right. However the contest was on LIVE accounts, not Demo. That means a lot. That means robots had real battlefield test. Most of them could not survive the test but top 7 winners must be really bulletproof.
Plus the live trading happened around Christmas and New year - traditionally hard tome for every forex system.

6. Will FRWC 2 happen? When?

The EA submission for the 2nd Forex Robot World Cup Competition has already started. It is finishing March 31st, 2010 so if you are an EA developer - don't miss out!

 
 
 
 
Tested Result: testing
Forex Funnel
 

Updated: August-2008

Profitable: 4.5/10

Easy To Follow: 8/10

Honest Result: 7/10

Support: replies within 12 hours (tested via 1 E-mails)

Bonus Value: 5/10

Results: 3/5

The Good: Works fine for large capitals

The Bad: Martingale game. You need huge capital to start

 
 

REVIEW: Last weeks I was getting huge number of requests from my fellow traders to review this system. Finally I decided to take my time and make a review of Forex Funnel, new expert advisor. Website design is "huge" again and I guess it is the second project from the creators of the Forex Tracer EA.

After some research and investigation I found out that Forex Funnel is playing some kind of Martingale Game. Martingale is a casino roulette strategy where you double a losing bet each time. First you bet $1, if lost then bet $2, then $4, $8, $16, $32 etc untill you win or run out of money. The plus of such strategy is that you will propably win in most cases. The minus is that you need really HUGE CAPITAL to play such games. Now take a look how Forex Funnel calculates the lot size for the trading.
Click here to see the image

Of course I dont know the algorithm of the EA but these numbers look like martingale to me.

On the one hand I can't call Forex Funnel Scam. Martingale strategy was created a long time ago and Forex Funnell creators are not the first and the last people who use it in forex trading. Also the "perfect line" backtest image on their website is not fake. On the other hand the creators "forgot" to tell you that to start using it you will need at least 100K (!!) of starting capital. I guess most of us don't have or are not ready to risk such huge capitall in a simple martingale game. The bottom line is that even with such huge capital the drawdowns are too high (Over 81K drawdown on 100K account!!) and the profit is poor (only 340% in 8 years) compared to other EAs. Take a look at my investigation here:

In the conclusion I will not call it a SCAM or bad system, but for the general trader it is a waste of money. You will be able to use it only on demo as most of us don't possess 100K minumum capital to start real Live trading.

 
 
 
 
Tested Result: 412 pips
Forexeasystems: EA Shark
 

Updated: November-2008

Profitable: 7.5/10

Easy To Follow: 5/10

Honest Result: 7/10

Support: replies in 72 hours (tested by 3 emails)

Bonus Value: 0/10

Results: 4.5/5

The Good: Results really amazed me. hats off...

The Bad: Hard to activate and backtest.

 
 

REVIEW: Today upon numerous requests from my readers I would like to review the EA Shark 4.0 Ultimate by ForexEasySystems. First of all, the system has rather strong protection feaures and I had a hard time with the activation and using the strategy tester. However finally I was able to perform a backtest on history of this EA.  Results really amazed me. Take a look here.

System is based on signals of several standard indicators such as: MACD, Stochastic, SAR, Momentum and it uses fixed stop loss. Some people say that I am too critical in the estimations of forex systems and most of my reviews here are bad.  Yes, I am critical because it is my work to give the unbiased honest review. However I have nothing to say bad about this unique EA Shark and its creators. Well done, guys! hats off...

Update August 2008 Today great dude Mark Larsen recorded his video review on EA Shark. Watch it here on VIDEO PAGE. The vendors told us they develop new website.

Update Oct 2008 Alex, the developer of Shark told me about future update:
We already worked out a new build for the EA SHARK. The new will use fundamental data as well to make sure the system do well even during periods where we have very difficult trading conditions.
Forward testing is almost finished. As soon the new build is available you will receive it automatically. (1, max 2 weeks) There will be also 2 new EA available.

Update November 2008 Alex released a new SIGMA EA. Click here to visit Sigma webpage Well.. Results Look Promising. You can watch it here. Backtest Results

Update March 2009New version EA Shark 5.0 ULTIMATE was released which has higher accuracy!