hey guys,

I'm currently doing a bit of research and educating myself in the forex market. What's surprised me is what seem to be the sheer number of scams around, basically offering you get rich quick schemes via forex.

This site is one of the few that I've come across that seems to offer genuine reviews by genuine traders, so thank you!

Was interested to know where the line is drawn for you guys between genuine strategies and systems, vs plain outright scams? For instance, Forex Ripper

Suggests you can just leave it running and bring in the money. Are these outright lies, or are there still genuine systems in place that can assist someone in making trading decisions? Would be interested in a review of it (if it's not an outright scam!)

Many thanks

James

Hi,

Thanks for the post and we are glad you are finding the site useful. The short answer to your question is we have no idea until we have a look. In other words, we too have to believe what we read on the website and what we can find from other sources, the only real idea we get is when we actually gain access and experience of a system/service.

Sales material in this market (trading) can be very mis-leading and we are always wary of material on website's. We suggest, like yourself, that others remain skeptical too.

The main Forex Ripper product is a robot (e.g. you leave it running in the background and it makes cash for you automatically (that's the theory) and therefore is not something we review. There are many other websites out there devoted to these systems and we are happy to leave them to it.

Hope it helps and we look forward to your future contributions.

Be careful out there.


ReviewTeam - www.systemsfortraders.com

Many thanks - will certainly remain wary. Even just doing research it feels like it's a bit of a shark tank out there!

In terms of sites devoted to the "robot" side of things - are there any that you'd actually recommend or know the people behind? I've struggled to find any that don't seem to have a clear bias promoting a particular robot (the cynic in me assumes the one that pays the most commission!). No problem if you're not comfortable doing this - or DM me if you don't want to make any "official" recommendations...

Thanks once again

Hi,

(We moved this to the "New To Trading Systems/Services" forum as it probably more appropriate.

No problems. Re: recommending a Robot review site - I think you answered the question yourself. We do not know of a site devoted to Robots that operates as we do, or even if there is one. Please do report back if you find such a service.


ReviewTeam - www.systemsfortraders.com

Hi Tenori

There are two sites that i like that do Robot Rewiews, driven2success and fxtradingreviews.

I don't know if these two sites are linked to any forex robot, but a good read anyway.

Hope this helps

Regards

Its a shame to see you haven't found a quality website for Robots - These do not seem much more than 2 sales sites with a few demo account statements thrown in, ps - be wary, photoshop is a very powerful tool.

I've been nosing around robots myself for a while, and I find that forums are normally the best place to see what really works. The problem seems to be that a lot of EAs make good profit for a short while, then blow up and take your account with them.

At the moment, Forex Robots is not a bad site as it is a fair real money comparison between the more popular bots being pimped at the moment. They share their statements and show the exact settings that they are using for each bot. They have just restarted the comparison though so it's not as useful, and it's crawling with affiliate links so be wary.

4XProject isn't too bad either. A wide range of bots and the reviews are ok, handy for picking out which bots are just a rebrand of a free EA. They have a specific forum too. Once again though it is brimming with links to the vendors although the links are all shown, nothing is a trick link.

Both are far better than the sites that pop up that infernal 'WAIT - you can have a special discount if you click 'CANCEL' now!!!' or some such irritating popup spam from the early noughties!

I'm a complete newbie and I've found a few reviews of robots by traders on reviewpips. Very readable and detailed reviews in some cases.

On 22nd August, one of the most popular bots (Megadroid) blew up spectacularly. Not a wipeout but it's a warning... it had something like 40 consecutive wins over the past few months.

If you're looking for a robot try Trading Gurus, not many in there, but I know Jim from trading rooms and his results are spot on, and he uses his own robots....so he's not a shovel seller.