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Tested Result: Possible scam
Forex Derivative
 

Updated: May-2009

Profitable: 7/10

Easy To Follow: 8/10

Honest Result: 5/10

Support: no reply in 7 days

Bonus Value: 5/10

Results: 2/5

The Good: The robot is very complicated and the backtest is good

The Bad: No forward test results so far, no live trading proof. Glitches in code + scam report by user

 
 

Forexderivative by Zack Kolundzic is a positive surprise to me. I am really tired of crappy robots and tons of fapturbo clone scams that pop up on the market every day. I hope this forexderivative is a fresh breath and the good change..

Forexderivative is a new high tech Expert Advisor with a complicated algorithm. This robot trades EURUSD, GBPUSD, USDCAD and AUDUSD on M1 timeframe.

The Forexderivative backtest results look encouraging:

There is a serious mathematic base inside the robot which choose the proper system from its portfolio according to the market conditions. That's good part!

The problem is - there are no enough real live trading results so far and we cant totally trust M1 backtest. Lets see how the real money test will go. I am testing it on my live account and will report later!!

Update June 2009 forex derivative 2.0 has several glitches that cause losses. Make sure you have downloaded fresh version!

Here is what we received from our user "Ansatsu":
i think i found that forex derivative is scam, look here.
code: int CheckForTestingModeResult(int ai_0) { bool li_ret_8; int l_year_4 = TimeYear(iTime(NULL, PERIOD_M1, 0)); if (ai_0 == 0) { if (l_year_4 == 2000 || l_year_4 == 2001 || l_year_4 == 2002 || l_year_4 == 2004 || l_year_4 == 2005 || l_year_4 == 2006 || l_year_4 == 2008) li_ret_8 = TRUE; else li_ret_8 = FALSE; } else { if (ai_0 == 1) { if (l_year_4 == 2003 || l_year_4 == 2007 || l_year_4 == 2009) li_ret_8 = TRUE; else li_ret_8 = FALSE; } else li_ret_8 = FALSE; } return (li_ret_8); }
that part of the code is calling to the .dll for yearly parameters. the backtests are curve fitted. totally bogus. it makes the EA seem like its a system, which produces great returns. instead, its just optimised for each year so the backtests are bogus! they are merely optimised results for each year! SCAM artists! this has to be a new length to go to to deceive purchasers! this has to be told!


Update June 2009 - We asked the vendor to comment that and received no reply in 7 days :( Sounds bad. The forward test on live account showed total loss during the first week of trading. Forex Derivative is a big dissapointment to me. Click to see live trading results