Forex Killer Scam or No Scam?
December 27, 2007
FOREX KILLER SCAM OR NO SCAM?
If you’ve been trading Forex and you haven’t heard of FOREX KILLER, don’t feel bad. You’ve probably stumbled across my blog while trying to Google whether or not Forex Killer is a scam. First off, let me say I’m not like the 100’s of other idiot bloggers out there “reviewing” Forex Killer while putting my affiliate link to their program in somehow. 
I do not get paid for promoting Forex Killer, even though I belong to click bank I refrain from promoting something you might lose money with. This review is unbiased and is as fair and balanced as possible. Secondly, most of these bloggers probably didnt even purchase Forex Killer like I did, therefore I have first hand knowledge on this software as well. That being said, let me say that Forex Killer is not a scam. When used correctly, Forex Killer makes you pips, makes you money. But Forex Killer is nothing BRILLIANT, as I will discuss later on. I will say though, that Forex Killer has put itself through a mass media campaign, blanketing 1000’s of sites with their links and good reviews, which, for the most part, obscure unbiased reviews such as this one. I have yet to see someone actually try out Forex Killer in real time or without a sales pitch like this blog entry does.
I’ve even seen on Youtube a handful of videos showing “real” testimonies from people making money with Forex Killer. Interestingly enough, these videos of women testifying to the effectiveness of Forex Killer are popping up. The very attractive young lady from Mexico City seems to be reading verbatim off of a script on the screen. The other lady seems to have a basic knowledge of the software, but she fumbles around with her speech, looks at the screen a few times and regains her train of thought… talking points on the screen perhaps? All valid questions that can be posed to the makers of these videos which coincidentally are closed for commenting. The Forex-Killer.com website has pictures of Dodge Vipers, beautiful summer villas, leading you to believe that the owner’s are living it up based on predictions made by this software. Maybe they are, but most likely they are living it up from selling 1000’s of people Forex Killer, but that’s just conjecture.
The Plot Thickens (For Me At Least)
At the end of November, I emailed Forex Killer’s support department voicing concerns over why my version of Forex Killer looks so “dinky” compared to the one in the video example I saw on Youtube and in the screenshots on their site. Still haven’t gotten a response. The video was from August. I paid $97 in November for a version of Forex Ki
ller which is clearly outdated months ago. 
I even read on another blog somewhere, a guy saying he got the “updated version of Forex recently” but could this have been one of their clever marketers making this post to make people who like to investigate things, like me, think they’re going crazy or just plain feel stupid for not being able to find the new version? Maybe they hope we missed the email from them? At any rate, this “dinky” version of Forex Killer prevents me from automatically feeding data into it from Meta Trader 4, rather I have to sit there trying to enter them one by one. This newer version of FOREX KILLER has a title of FOREX SIGNAL SOFTWARE in the title bar for the application and allows you to click one button and the price data is entered, no fuss. This all makes me wonder if Forex-Killer.com is the original Forex Killer or is a derivative of some other software? I hope not, I really thought I was going to get the software on the right. At any rate, I hope I am wrong and they email me soon to rectify this discrepancy, maybe there’s a secret page for a download for the newer looking version.
Above Pictures:
SCREENSHOT ON LEFT is What I Paid For And Got (From Desktop)
SCREENSHOT ON RIGHT is The Advertised Version (From Forex-Killer.com)
Enough With The Drama, Does Forex Killer Work?
As for it’s functionality, I read through the instructions a few times, and was left wondering how this can be effective at any time of day for any pair but after using it for a while I answered my own question. Forex Killer, quite simply, takes the previous 10 closes and works out if the trend is going up down, or is flat. This also begs the question, if the hour trend is up, and the 30 minute, 15 minute, and 5 minute are down, which trend should you trade? Forex Killer really doesn’t spell that out for you, nor will you be getting clear entry and exit points from them. That being said, most professional traders, guys who have been in the business for years can probably look at a chart and within 2 seconds figure out exactly what Forex Killer is going to tell a beginner for the price of $97. Inevitably, nothing can predict the final movement of any pair in the Forex market, don’t expect Forex Killer to do that either, that’s why they say X% effective trades, because even price can go against the trend from time to time.
PLEASE DON’T BE FOOLED BY OTHER PEOPLE’S “REVIEWS”
For instance, visit this page http://www.squidoo.com/forexkillerreview , this guy paints this bright picture of Forex Killer, but at the end, puts his aff code at the bottom = TOTALLY BIASED!
So be warned: Any “Review” Of Forex Killer that ends with a link that has “CLICKBANK” in it somewhere, it means the reviewer is biased. Not necessarily lying, but he has a good reason to, and that reason is financial gain. Some webmasters even redirect pages from their site to mask the link. So, rule of thumb, any review of any Forex software, without a link to the program, means its fair and balanced.
So, Should I Buy Forex Killer?
Experienced traders can skip purchasing Forex Killer, especially if we’re not going to be getting the nice version which allows for automatic import of data from MetaTrader4. If you’re not an experienced trader, I do actually recommend the investment of $97 or $87, depending if you catch the $10 off IM Window. Simply because, if you read it correctly, you can make $97 in a day, so the cost of this isn’t really an issue. I’m sure the issue is not wanting to get ripped off for any amount of money, I feel the same way. After buying Forex Killer, I am not left with that feeling, I made money back, but I am not making a fortune, yet at least. The choice is yours inevitably. I always recommend finding a mentor that can actually teach you how to spot trends on your own; “teach a man how to fish” you know the rest.
FOREX KILLER USEFUL OR NOT: USEFUL
FOREX KILLER PRICE: AFFORDABLE
FOREX KILLER SCAM OR NO SCAM: NO SCAM
FOREX KILLER SUPPORT: Permanent Vacation?
Add this to your favourites
appreciate your honesty. good review.
what u think of Profit Wizard Expert Advisor
strategybarn.com/eas/profitwizard.phpand
prophet1
and
secretsfromtheheart.com/paradise_info.htmregards
chris
[…] be making this post if both I haven’t actually seen uwpReview before actually making my first post about Forex Killer (giving me the idea for the first post), and secondly if the owner hadn’t tried to spam my […]
Hey, thanks for the honest review. These are extremely hard to come by. Appreciate your taking the time to do this.
Roshana
Awesome review! You should put your affiliate link in it. I think everyone can tell that your review is a genuine review. Anyway, thanks again!
I tried the software, i have been practicing demo account trading on a mini with fxcm for a couple years on and off and I saw so many good reviews of the software, sometimes the software is right sometimes its wrong, understanding the timelines is confusing, but I guess I am just stupid for not being able to work it properly. my personal result is a margin call, total loss 600 or something dollars. Was fun playing the market, but I will keep researching other strategies and create my own system as I seemed to be doing better without it…
Thank you so much! This helps a lot!
Ok, here we go….
I got myself the new version of FXK. I had the old one, looked at it and forgot about it. Then I saw on some forum someone linking the site and I remembered buying it (BTW, i hate those promotion links too). I contacted support, (since they have lifetime free upgrades included in the purchase maybe you should remind them and get the new version) and downloaded the latest version. I must admit that some things could be improved but it will do for now.
I am monitoring all 13 pairs at different entry hours working on 4hr candles. I started on Monday so it’s early days but….I made over $3,500 on a $10,000 demo account with a 200:1 leverage. 35% in one week. With compounding that raises to 37.4%. Not bad at all. This is taking 64 trades with 41 winners and 23 losers. 64% win ratio. Only 1 losing day out of 5.
What I am trying to work on is selecting the best and most reliable pairs, the best times to trade them and then, only use those (eventually) in live trading. Also I need to work on the best SL and PT levels. Not forgetting trailing stop. This week I tried 70 - 90 with a 45pips trailing. Not too excited about it. Next week is different parameters. Once I have decided what pairs are best I will then concentrate on the best hours, then on the best setting.
It’s a long journey but I’ve seen the potential. At one point yesterday afternoon I was up $7,000 on the account. By midnight it all turned around and ended up losing 5k….good thing it’s only demo.
But this is why my research will be extensive, I want to get FXK working full force.
Regards,
Michael
Michael,
where did you get the updated version of Forex Killer? From support you say? My emails have gone unanswered on the updated version topic, no lie.
support@forex-killer.com
or
forexkillersupport@gmail.com.
Ask them for the upgrade since you were told at the time of purchase that you wold get them free for life
ok, I’ll email them again. I don’t see why they wouldn’t just send out this newer version to begin with, that thumbnail for it has been on their site since before I purchased.
Any luck with getting the upgrade ?
No Michael, still no Response
But for sh*tz and giggles, I have been trading with the software, AND I had 4 winning trades for a total of 208 pips and one loss for a total loss of 50 pips. I set wide stops on most of these, and it paid off, on most of these trades I drew down to almost my stop, but it bounced back for a profit. So far so good with Forex Killer. My email must be getting filtered
Yeah well, I sent them a couple of emails in regards to how to better use the software and got no reply.
I asked them if they could help me with something I noticed:
“Why is it that sometimes the software generates a buy signal and the red part of the line on chart is actually pointing downwards ? Is there any difference between this situation and when it actually points upwards ?”
No response !!! Thanks for nothing !
Also I sent Andreas whatshisname an email asking for help in better understanding the software, still no reply.
Anyway I have figures for 2 weeks.
If we were to only trade
GBPUSD
EURUSD
USDCAD
USDCHF
EURJPY
GBPJPY
GBPCHF
(forget about the others, they are big losers)
the numbers are pretty good:
77 trades
72 % of good trades
$12,023 (trading 1 standard contract)
PF 1.90
Still I am not too convinced yet, I see too much randomness in the generation of signals.
how do yoou all acheive such great results with Forex Killer? Even after reading the ebook I can’t understand how to call signals.
As I said above:
“I see too much randomness in the generation of signals.”
When I add the value for the last candle, sometimes I get the opposite signal. And not only by a small %, this is what I mean by randomness.
This week so far the result is -$1,682, only 2 days true but it’s still a negative number.
This still only considering the above mentioned pairs.
Yo Michael and Admin
Q: Does the strategy cover currency pairs other than EUR/USD?
A: The strategy has been designed to be useful for trading any major currency pair such as EUR/USD, GBP/USD, USD/JPY, USD/CHF etc… The examples are mostly EUR/USD, however our forex strategy can be easily applied to any other currency pair.
Q: Do you provide customer support?
A: Sure. We provide friendly customer support. Feel free to contact us any time you have questions or problems. We’ll do our best to help you and answer your questions as soon as possible. Visit our Forex Killer Help Center
Q: What if I am not happy with the software?A: It’s a COMPLETELY RISK-FREE PURCHASE: We challenge you! Should you not be able to profit with our software, send us your trading screenshots and we will refund you, no questions asked!
Q: Can the software become outdated?A: No, with your purchase of the Forex Killer software you are entitled for updates free for life. We constantly improve the efficiency of the software as we use it to trade ourselves.
What is your point Adam? I’ve read the Q&A many times
Thanks for the advice Michael, I was indeed trading loser pairs there, but my biggest loser was GBP/USD, maybe I fell victim of reading the software at the end of the move Forex Killer identifies.
Sad to hear you didn’t get a response either, maybe they’ll come by here one day and set us straight
What strategy are you testing ? This week I download at 00.00, 08.00, 12.00, 16.00 and 20.00 GMT. If both 4hr and 1hr give the same signal and both are above 60% then I enter the trade. I am trying different SL and TP levels each week. This week is not really exciting, last week was good but the first week was amazing. So maybe the best strategy is the first week one. We will see.
Thanks for sharing your thoughts on Forex Killer, i think i might buy it nnow
ok, these are the results for the past week. As I said in my deleted post, maybe I picked the wrong strategy. Maybe the markets are really difficult lately. Whatever reason, last week wasn’t too good.
Only trading these pairs:
GBPUSD
EURUSD
USDCAD
USDCHF
EURJPY
GBPJPY
GBPCHF
EURCHF
25 trades
35.21%
-$2,711
PF 0.59
Bringing the total for 3 weeks to:
102 trades
66.67%
+$9312
PF 1.50
This week I will try a different strategy 1hr and 4hr with SL and TP both set at 50 pips. Last week I noticed quite a few instances where prices went 40 to 60 pips in the money and then ended up getting stopped out. Also this week, I will trail with 25 pips instead of 45.
I also created a correlation sheet for the pairs I am following and will only take signals if the correlations are respected.
In my deleted post I mentioned having noticed, like imprator already mentioned, how the percentages change if you re-calculate and this is what I meant by randomness. It does not affect the signals but makes me wonder.
I am not ready to give up on this software just yet but I am not as positive as I was the first week out.
My deleted post is not referred to this blog but to somewhere else where I am discussing FXK. Sorry if I created confusion.
Joseph
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