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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: testing
Forex Detector
 

Updated: December 2008

Profitable: 3/10

Easy To Follow: 5/10

Honest Result: 2/10

Support: did not test support

Bonus Value: 5/10

Results: 0/5

The Good: nothing good again

The Bad: it does not work.

 
 

Forex Detector's advanced algorithm makes massive amounts of profit opening multiple trades using its complex secret strategy. This algorithm has never been seen in the Forex market before. Make multiple trades opened to compound wins for HUGE profits. Forex Detector runs on eur/usd 30 minute charts and works with any mt4 broker.

How many times did we hear this BS?

Again bold claims and crappy robot..

Nothing to add here... One more useless robot from the creators of "forex brotherhood" and "forex boomerang"...Beware!

I hope next time they will better spend money on good programmer instead of paying this weird designer that does not feel any limits in design and create "similar style" awful websites...

 
 
 
 
Tested Result: fail
ForexAmbush
 

Updated: February 2009

Profitable: 5/10

Easy To Follow: 0/10

Honest Result: 5/10

Support: No replies

Bonus Value: 5/10

Results: 0/5

The Good: Bold claims 100% success signals

The Bad: No stop loss trading without any chance to win long term

 
 

Their web site claims 100% success as long as you follow their "signals exactly". They also say they 100% guarantee that you can have a refund for any reason you are not satisfied.

Upon join on the 13th.January I found out the first claim was blatently false. The only way they could claim 100% success is by NOT following their signals exactly as in their advice by not using any stops. I think anyone with the slightest experience would agree that is madness.

The idea is to open a trade and stay in drawdown until you finally reach the small profit. Sounds crazy, isn't it?

On top of this, I couldn't see how many of the signals could be placed before the close signal is given. Some are 2 minutes from start to end which seems crazy for an email signal service. If I set my email to check every minute and was sitting by my PC ready I'd still have trouble getting the order in on time. Then they tell you that for you to receive your emails promptly you have sign up for the "Diamond" edition which makes sure your emails are sent out first which they say can be a few minutes before the others.

Also, they haven't answered my email or questions via their contact page.

 
 
 
 
People's Reviews
Forex Miracle
 

Updated: February 2009

Profitable: N/A

Easy To Follow: N/A

Honest Result: N/A

Support: did not test support

Bonus Value: N/A

Results: Not good

The Good: N/A

The Bad: N/A

 
 

I will be honest with you guys, I have no personal opinion about Forex Miracle and do not plan to make a review because after reading so many negative reviews of people I would not bother wasting my money and time on that. I will just quote here people's opinion

Joshua Virkler: This is a completely fraudulent product. Once you actually purchase it, you get 30 pages of generic boilerplate nothingness about the terms and definitions of the forex market, trading hours of various exchanges, etc. The most basic of information you find everywhere on the internet.

Then, in the second half of the ebook, you get a description of two ridiculously simple "systems". These are merely reproductions of forum postings from early to mid 2008 on various websites! See for yourself:

http://www.forex-tsd.com/suggestions-trading-systems/15804-1400-1600-gmt-usd-breakout-strategy.html

http://www.forexfactory.com/showthread.php?t=67934 This is literally the most worthless thing I have ever purchased in my life. I am shocked at the complete disregard for truth that is being displayed in the marketing of this ebook.

and here is more

Andreas Foerster: I can only agree with Joshua Virkler:

The ebook contradicts itself on various places; it isn't explained how they set the target profits - they simply do; the risk/reward ratio is far worse than that they said when promoting the "product"; emails are not answered.

I've never seen anything worse on the internet, and I bought a lot of ebooks, programs, signal-services etc. I just hope to get my money back from clickbank

Kevin from FPA made the finall conclusion: As stated by Joshua this product is not worth the money. There is no automatic system at all, only a simple ebook of generic information and two simple systems which are reproductions of forum postings.

 
 
 
 
Tested Result: fail
FXPromaker
 

Updated: February 2009

Profitable: 3/10

Easy To Follow: 7/10

Honest Result: 5/10

Support: did not test support

Bonus Value: 5/10

Results: 0/5

The Good: They opened some sort of Private Trading Group...

The Bad: Backtest results showed tiny profits and then total account was blown away

 
 

They sell several EAs however I had a chance to test only MAIN FXPROMAKER EA. The algorithm is some sort of ugly martingale - backtest results showed tiny profits and then total account was blown away. Be careful with it!

Here is the member's review: "I have been testing and Live trading this EA for the last 4 months. Risk to reward of this EA is pretty bad. Even if trade .01 lot on a $10000 account with moderate volatile pair such as USD/JPY, it just a matter of time before you get a margin call. Not recomended. and here is more "I haven't buy this system, but its demo is really amazing. Can you imagine? I LOSE 20% per day. I say again : I LOSE (not Gain) 20% per day. It is unbelievable. It is a scam."

Update: They opened some sort of Private Trading Group...The price is huge (from $950 per 6 months)

 
 
 
 
Tested Result: testing
Forex Hope / DTS-1
 

Updated: February -2008

Profitable: N/A

Easy To Follow: N/A

Honest Result: N/A

Support: Good support, received several replies by email

Bonus Value: N/A

Results: Testing

The Good: Long term trading history since 2007, good reputation among traders

The Bad: Long drawdowns, low profits (according to users' feedback)

 
 

Forex Hope (or fxhope.com) company offers 3 EAs: Dreambuilder FX (DTS-1), Pointbreak EA and Fractals Wizard.

I have heard a lot of good and bad about them on different forums. Some people say it is brilliant, for example: "Very very easy to set up and understand. Customer service has been excellent, and it's clear that the creators of these EA's work hard to continually improve their products. If you're looking for a solid, low risk EA based on hedging that will grow your account by about 5% - 15% or more per month, this one is for you.

From the other hand some traders are really disappointed with this EAs: "After testing on demo and live accounts since March 2008, I finally tossed pointbreak aside and stopped trading. The software works only in trending markets and gathers big drawdowns in sideways markets. My longest DD was 3 months - 40% DD - to make $10 at their lowest risk level of 1. My demo account at a more aggressive risk setting was wiped out. During DD's, management will send you e-mails on how to get faster out of DD's by tinkering with the software and guessing at where the market is going to go. They mentioned several reports to read, fundamentals to look at etc. They also mention not to trade on Friday and Victor - the co-developer of this system sent me a link to another EA to offset PointBreaks losses. The results on their site are manipulated with manual trades. This EA works on risk level 1 and if you have the patience to endure long deep drawdowns for multiple months until the EA works itself out or the market starts trending again. It is a very very slow way to increase profits."

So I decided to give it a try and contacted the developers directly

First Viktor Iwan (Staff) replied me with the access to their trading accounts which showed pretty nice trading history. Then he provided me with the Demo version for the DTS-1 system so I placed it for trading. However I have no trades so far so nothing to report. Viktor said "DTS will open a trade when price break keltner channel and trend is up according to ADX filter. if price within the channel DTS will not open a trade." Maybe I need more patience... Lets see..

The bottom line is - these EAs will not make you a millionaire overnight however if you prefer long term small profits you may consider check them out.

I will update my review later when I have some real trading results..

 
 
 
 
Tested Result: SCAM
Automated Forex Grail
 

Updated: April-2009

Profitable: 0

Easy To Follow: 0

Honest Result: 0

Support: did not test support

Bonus Value: 0/10

Results: Scam

The Good: Nothing Good. Total Scam. Beware!

The Bad: They have decompiled fapturbo codes, renamed it and resell

 
 

Beware, this product is a total scam. I have got a report that they have decompiled fapturbo codes, renamed it and resell under their own name! Fapturbo developers also confirmed that.

 
 
 
 
SCAM
EA Boss
 

Updated: May-2009

Profitable: 0

Easy To Follow: 0

Honest Result: 0

Support: 0

Bonus Value: 0

Results: 0

The Good: Nothing Good. Total Scam. Beware!

The Bad: They have decompiled fapturbo codes, renamed it and resell

 
 

Beware of EA Boss - one more big scam. They have decompiled fapturbo codes, renamed it and resell for $699!

BesForexEA admin has decompiled both codes and compared them - they look identical:
Code comparison by BesForexEA site
One more code comparison
Website itself looks like pure scam as well. Beware!

 
 
 
 
Tested Result: fail
Forex GRIDbot
 

Updated: May-2009

Profitable: 0/10

Easy To Follow: 5/10

Honest Result: 5/10

Support: did not test support

Bonus Value: 7/10

Results: 1/5

The Good: Nothing good.

The Bad: Bad backtest and forward test

 
 

To be honest I don't like Grid trading systems - usually they have no stop loss, they generate huge floating loss. They make tons of small profitable trades and then blow away everything taking the large loss. Gridbot is nothing different here. Take a look:

The GridBot backtest results look bad:

Our forward test showed the similar picture.

The bottom line is -total crap with a good marketing which is totally cloned from fapturbo robot marketing..

 
 
 
 
SCAM
Forex Vampire
 

Updated: June -2009

Profitable: 0

Easy To Follow: 0

Honest Result: 0

Support: did not test support

Bonus Value: 0

Results: 0

The Good: nothing good. scam

The Bad: Scam. Beware

 
 

Forex Vampire came to suck money from traders' pockets. The original Vampire was made by Expert Advisor Generator. The updated EA is a cloned copy of Forex Transformer. I think it came to the attention of clickbank because on the day of my review I see "SOLD OUT" on the Forex Vampire website. Beware!

 
 
 
 
Tested Result: failed
Forex Espionage
 

Updated: June -2009

Profitable: 5/10

Easy To Follow: 5/10

Honest Result: 5/10

Support: did not test support

Bonus Value: 5/10

Results: 0/5

The Good: Nothing good

The Bad: Backtest is bad

 
 

Forex Espionage is a product by Forex Trading Manuals (Steven Lee Jones). Good hype but useless robot inside - The product itself is of low quality and the manual is very confusing. The robot trades on Parabolic Patterns system. There is no Money Management inside and the robot does not work on 5-digit brokers. The backtest shows total loss.