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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:
Steinitz HAS MTF Robot
 

Updated: June-2008

Profitable: 4/10

Easy To Follow: 5/10

Honest Result: 5/10

Support: replies within 36 hours (tested via 2 E-mails)

Bonus Value: 1/10

Results: 3/5

The Good: Very complicated system, good tutorial

The Bad: System is too complicated lol, strange results in backtest.

 
 

REVIEW:Many visitors of my website asked me to review this Steinitz HAS MTF Robot by Donald Steinitz. To be honest I was really impressed by the quality setup process of this EA and detailed instructions PDF. The EA uses several indicators and has TONS of parameters. (!!!) I have never?áseen such a high number of parameters before, good work.

Anyway Steinitz HAS MTF Robot Backtest looks strange to me.

Maybe I used wrong pairs or wrong settings? I just used the default settings with recommended currency and timeframe. To be honest I gave up. I don't have enough time to optimize the tons of settings for this complicated system when I have a lot of other good profitable systems to use. I would say?áDon Steinitz's system is too complicated for ordinary users like most of the fellow traders..

Update Steinitz HAS MTF Robot won a 3 month contest by Forex Robots website and took a victory over Bogie-NN EA and other robots.

Update December Recent performance of this robot was too unstable, please be careful and trade small lot sizes. I got few angry reports from my readers recently

 
 
 
 
Tested Result: testing
Chameleon 2008
 

Updated: October-2008

Profitable: 8/10

Easy To Follow: 5/10

Honest Result: 9/10

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

Bonus Value: 5/10

Results: 4/5

The Good: Great support and personal approach. Overal System is profitable according to the forward tests.

The Bad: System is rather complicated and expensive. Lots of strategies and currency pairs require some time and past experience to get familiar with. You need to devote some time to setup because system works on several pair at the same time (17 pairs if possible) and several strategies.

 
 

REVIEW: Over the last few weeks fellow traders asked me to review the Chameleon 2008 system from Renegade FX. The creator Steve was really kind to find the time to call me personally and discuss his product in detail. Also he provided a demo for me.

Here are few points he told me:

1. Chameleon cant be easily backtested because it uses a combination of different strategies that support each other: when one performes bad other strategy will try to fix the situation
2. No refunds are provided. New updates cost you 25% of the current price.
3. Chameleon does not have any affiliate programs because Steve wants to have low number of clients to provide personal support to them.
4. Chameleon is so damn expensive because Steve had to contact each client personally and help with setup. He can't give away it for cheaper price.
5. Chameleon has a number of forward tests on several demo accounts. One of them was blown away because of IBFX spike error in quotes. Other accounts are doing good.
6. Steve is going to release new version in January 2009 and also release we other EAs
7. Chameleon has a number of presets you can use for your trading
8. Steve is going to open a public forum soon.

Update October: After Steve saw my review he decided to add a comment: "As you know I provide profiles that can be loaded with just a few clicks of the mouse, this actually makes things easy for beginners. I know the EA is more complicated than others but I have taken steps to make it usable for the less experienced."

 
 
 
 
Tested Result: testing
Forex Auto Cash
 

Updated: October-2008

Profitable: 6/10

Easy To Follow: 8/10

Honest Result: 9/10

Support: replies within 24 hours (tested via 1 E-mails)

Bonus Value: 5/10

Results: 4/5

The Good: The robot made no single losing trade on backtest

The Bad: System is optimized only on history for BUY orders and uptrend of EURUSD

 
 

REVIEW: Few days ago I was really spammed with your requests to review new shocking Forex AutoCash Robot.

As the vendor says, the secret of the system is "Reverse Price Trade Intervals (RPTI)". I have no idea about RPTI but real secret is rather simple: Robot makes only BUY trades and the global trend for EURUSD for last 9 years is bullish so each trade stays in drawdown for some time (from day to few months) until it reachs the take profit sooner or later. Simple but it works. No magic. Good marketing.

System has a fixed stop loss so it is rather safe. You can't lose more than your Stop Loss value. So you can start trading with it too.

In conclusion, I confirm that Forex AutoCash Robot system is NOT a scam and the claim about "No Losing trades on last 9 years" is true. I have got the system and I have made this backtest too and confirm it.

I will update my review in few months with more results on actual trading.

Update October Mark Larsen has recorded his video review of Forex Autocash robot. Worth watching!
Check out Forex Autocash robot video review by Mark on YouTube

Update Sorry guys, looks like the offer is over. Sold out. The vendor told me they will be open again to public in the beginning of 2009.

Update October Finally Autocash hit his first stop loss on the October 6th. That is explained by crazy market conditions during that week. John Burroughs released the Forex AutoCash GBP/USD Wednesday Blaster Robot for his members.

 
 
 
 
Tested Result: 80 pips
Forex Trend System
 

Updated: 1-10-2007

Profitable: 5.5/10

Easy To Follow: 5/10

Honest Result: 6/10

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

Bonus Value: 2/10

Results: 3.5/5

The Good: System has several advantages such as universality for different pairs and markets.

The Bad: The bonuses are just free courses that can be found in the internet.

 
 

REVIEW: The TrendForex Systems was made by trader John Chen. First impression here was also really bad, I did not like their site with HUGE red fonts and anoying POPUP that I even could not maganage to close.. and again long text about "super-powerful system" and stuff like that. But when I finally ordered and downloaded it, i was satisfied enough with it. TrendForex System Identifies the trend and can work for forex currencies and futures. After reading more information i found it rather "easy-to-understand". System gives clear entry and exit rules as well and can be applied for all timeframes and all currency pairs, futures, stocks, and indices... (as they claim, but of course i did not tested that because i trade only forex you know). About results here - they did not impress me too much, got the weak trend with small profit the next day I use it. The system is rather time-consuming for me.

 
 
 
 
Tested Result: Scam
USDbot
 

Updated: February 2010

Profitable: 6/10

Easy To Follow: 7/10

Honest Result: 5/10

Support: did not test support

Bonus Value: 0/10

Results: 0/5

The Good: Good backtest for 2009

The Bad: Usdbot seems optimized for the 2009 only. Backtest for 2005-2008 shows bad results. Scam copy of free EA

 
 

USDBot is a new over hyped EA released by Mark Trenton. The marketing is copied from fapturbo, even the iframes with the accounts. However the results shown on page are from few weeks of trading and they are not updated in real time.

I decided to dig deeper and analyze the robot USDBot. It trades EURUSD and USDJPY on D1 timeframe. The short term backtest for 2009 looks good:

USDBot EURUSD 2009 Results

However Usdbot seems to be optimized for the 2009 only. Backtest for 2005-2008 shows bad results:

USDBot EURUSD 2005-2008 Results

Same picture on USDJPY. Good results in 2009 but bad in 2005-2008:

USDBot UsdJPY Backtest Results

The bottom line is USDBOt is optimized for the current market conditions and it is hard to predict how it will perform in future. We have placed in on the demo account for the forward test.

Update February 2010 It has come to my attention that USDBot is a scam. It is a clone of a free EA called Opto123. The developers of USDBot released version2 which has completely different logic and based on simple martingale that will blow your account. Be careful!

 
 
 
 
Tested Result: testing
Forex Apocalypse
 

Updated: October 2009

Profitable: 6/10

Easy To Follow: 10/10

Honest Result: 9/10

Support: did not test support

Bonus Value: 9/10

Results: 4/5

The Good: Good backtest - seems to be profitable under current market condition

The Bad: Does not trade often. Supports only one currency pair

 
 

Forex Apocalypse is a new system from Michael Wright. It trades EURUSD M30 (just one currency pair) and opens trades based on Momentum, ADX and RSI indicators. To exit the trades a trailing stop is used beside the fixed TP and SL levels. Forex Apocalypse does not have any automatic money management - so you have to set the lot size manually. It does not work on ECN brokers however it adjusts to 4-5 digit brokers automatically.

The Forex Apocalypse backtest looks pretty good for the last years. You can check it out here. Forex Apocalypse backtest - file is large 4.5 Mb - beware!

However the robot does not trade often - you will hardly get 1-2 trades in a few months. Here is what I found in the user guide "This EA is for trading Forex market, not for personal entertainment. That means it would only trade when there is a very good chance of winning. It wouldn??Öt trade just to make you happy!" - sounds pretty funny lol :)

 
 
 
 
Tested Result: testing
Forex Rebellion
 

Updated: October 2009

Profitable: 6/10

Easy To Follow: 4/10

Honest Result: 8/10

Support: good support (received 1 reply)

Bonus Value: 10/10

Results: 3/5

The Good: You get a lot of video tutorials explaining the trading systems

The Bad: Not a fully automated system. Involves a lot of manual trading work

 
 

Forex Rebellion is not a fully automated system. It comes in a way of detailed manual (in PDF), 3 indicators and a EA called trade assistant which sends you alerts on the new trade signals.

However you get a lot of video tutorials explaining the trading systems which makes the learning pretty easy even for a newbie.

The systems works on 10 pairs (EURGBP, EURUSD, EURJPY, GBPUSD, BGPJPY, AUDUSD, NZDUSD, USDCAD, USDCHF, USDJPY) on 3 timeframes. The Forex Rebellion gives you exact entry rules to open a trade and several conditions to close it You also receive a predefined template which helps you to setup the charts.

In my opinion Forex Rebellion is a solid and detailed system. If you are a manual trader you should definitely give it a try

 
 
 
 
Tested Result: testing
Forex Harvester
 

Updated: January 2010

Profitable: 7/10

Easy To Follow: 7/10

Honest Result: 7/10

Support: good support by Mark Marshall

Bonus Value: 5/10

Results: 4/5

The Good: Trades several pairs. Good backtest results

The Bad: Not enough proof with forward testing

 
 

Forex Harvester is a product made by our good friend Mark Marshall. He is a professional forex trader. The robot works on such currencies as EURJPY | EURUSD | GBPUSD | USDCHF | USDJPY on H1 timeframe.

According to Mark, "The EA trades gaps on up to 5 currency pairs at market open each week. It is designed to make slow and steady returns and has a high win rate."

The backtests seem very promising. Take a look here:

ForexHarvester 2005 Backtest

ForexHarvester 2007 Backtest

ForexHarvester 2009 Backtest

We have placed the robot on the demo trading this week. Lets see how it performs... I will update the review later!

 
 
 
 
Tested Result: testing
Forex Magic Machine
 

Updated: May-2009

Profitable: 6/10

Easy To Follow: 6/10

Honest Result: 4/10

Support: did not test support

Bonus Value: 5/10

Results: 2/5

The Good: the strategy itself is not bad

The Bad: The robot strategy is stolen from the free vforce ea

 
 

The forex magic machine is a new product from the creators of the following projects: forexdominion.com forexkingpin.com semiautoforex.com theforexfantasy.com theforexlegacy.com theforexmaestro.com theforexmiracle.com theforexterminator.com - most of them does not work at all as you can read from my old reviews.

However this Magic Machine strategy is not bad at all. The strategy is based on plenty of standard indicators such as Stochastic, RSI, MA, SAR, BearsPower, BullsPower, ADX, MACD etc. and works on EURUSD H1

The Forex Magic Machine backtest results look promising only in 2006-2009:

The main problem here is that it is not an original EA. As one of my readers reported: The strategy itself is a clone of a free EA called VForce:
For 200 bucks, they sell you the 'original version' which is v1.1 of the 'vforce like ea' downloadable here: http://www.tradingsystemforex.com/expert-advisors-backtesting/1086-vforce-like-ea.html
For another 200 bucks, they sell you the 'advanced version' which is v2.0 of the 'vforce like EA' downloadable in the same thread as above.

The vforce ea has a 'modify order 130' issue cause by the ATR trailing stop and, of course, the magic machine has this as well. Backtests are literally the same. No improvements or modifications. Same ea.

So guys, be careful!

Update : After our investigation the Magic Machine was "sold out"...

 
 
 
 
Tested Result: testing
Forex Terminator
 

Updated: February 2009

Profitable: 3/10

Easy To Follow: 7/10

Honest Result: 7/10

Support: did not test support

Bonus Value: 10/10

Results: 2/5

The Good: The system goes with the nice PDF describing the trading strategy

The Bad: Poor performance : Low profit and very rare trades.

 
 

A lot of members asked me to review Forex Terminator so finally I decided to buy and test it.. Salesletter reminds me fapturbo website, obviously they copied many marketing ideas. However there is big difference here - no live results are published on the pitch page which is clear red sign for me: do they really trade their system?

After purchase they will offer you to buy some EURGBP robot that looks like fapturbo clone and some scalping strategy guide, which could be good and maybe you can consider buying it however I was interested only in main system and skipped that.

The Forex Terminator trading system is based on several indicators such as ZigZag, Channel, SuperSignal etc. They provide a detailed PDF explaining how to trade manually using the signals from the Forex Terminator trading system: clear entry, exit and trading examples are provided.

However you know me, I never bother with manual trading anymore in the era of forex robots when you can automate all your ideas so I went ahead and backtested the Forex Terminator robot itself which turned out a big dissapointment to me.

The creators suggest to run it on EURUSD H4 timeframe. take a look on 2003-2009 backtest:
View the Backtest
I noticed they trade other currencies (reports shown on the salespage) such as USDJPY however I could not get any good results on them even when I tried smaller timeframes..

The conclusion is - the manual system could be good for professional traders only but if you prefer autopilot approach the robot is pretty dissapointing - you will hardly get a trade in a month and it will not bring you any good profits even long term