The Forex Cyborg is a fake trading robot which uses particularly deceptive and misleading SCAM tactics, and that is why we had to BLACKLIST this automated Forex trading software in our fair and honest review and investigation. We recently received complaints from a few of our members concerning this Forex EX (Expert Adviser) signals tool, so we decided to rise to the challenge and start examining and testing this software. It seems there is a group of affiliate marketers who is promoting this system, so it is getting a lot of exposure. Truth be said, there are many supposed mitigating factors which can actually lead potential day-traders to jump on this gravy train and risk their hard-earned money. For example, the 30 day money back guarantee is very important and it is for this reason we had various arguments about how to review it. However, we eventually decided to blacklist it because of the use of fake testimonials and blatant baiting tactics which trick many opportunity-seekers into funding trading accounts under false pretenses. Customers simply believe it is a legit or genuine Forex software, which for all intents and purposes could have been very possible at face value. However, we caught them cheating and making false claims so now they have to pay the price. While we agree that there are much more sinister and aggressive scams out there, the subtle and seemingly authentic nature of the app causes readers to drop their guard and in this way expose themselves to a software which is definitely fraudulent. Keep reading to see how our staff of researchers produced unequivocal proof and evidence of an investment SCAM.
Official Website, Login Page, and Members Area: http://forexcyborg.com/
Proof of SCAM
Below you will see the testimonial section inside the Forex Cyborg main sales page. A simple Google check will show that “Vladimir” is an image bank actor and we can pretty much guarantee that this person (whoever he is) has zero knowledge about Forex, or for that matter any form of online trading.
Moving along, we can see how this software is being marketed as a hands off, fully automated system. And all you have to do is download the Meta Trader 4 (MT4) software, hook up with a Forex broker, and “sit back and enjoy the frequent and profitable trading” of the system. Well, it was that easy then everyone would use this software and we would all be millionaires right? Wrong! This is a lot of hype and if trading was that simple then we would not need to have an entire industry educating, mentoring, and guiding traders.
Forex Cyborg Software Review
The polished look and sleek design of the Forex Cyborg sales page is very inviting and appealing to the eye. It starts off by saying “A real professional Forex Robot for real professional traders. You have seen the rest, now see the best.” Well, that is a very bold statement coming from a shady software provider who we know nothing about, and that is very big problem and a separate issue by itself. The software offers 14 currency pairs on 15 minute charts and it utilizes the MetaTrader 4 trading platform for placing, managing as well as closing trades.
The software boasts a 77% ITM ratio with expectancy 5.0 pips per trade and provides screenshots of a 3.73 profit factor. In other words, out of 111 trades which were executed 85 were in the money and the rest were losing trades. They also claim it facilitates multiple currency pairs using the default software settings on “any size trading account with any leverage”. That is a huge risk and if you understand Forex, you should know that when you trade with leverage your losses can exceed the amount of your original investment. In fact, we recommend you don’t trade with leverage or at least understand what you are getting into before taking a leap of faith and trusting a broker with your hard-earned money.
The Main Sales Pitch
This robot utilizes the use of “neural networks and deep learning” in order to reach a high win rate and adapt to market conditions on the fly. The trading algorithms are supposed to be “state of the art” and super advanced.
“You do not need to risk a lot to make huge amounts with it as it trades frequently and can grow even the smallest trading accounts to great amounts in quick time.” This is a classic tell sign which should signal to you that you are on your way to getting your wallet fleeced. Anything which promises large amounts of money fast with little or no risk is a SCAM according to our experience, and this sentence was taken directly from the Forex Cyborg sales page.
Unique Features and Specifications
Tick Testing: The sales page claims that “real tick data used for testing giving the most accurate results possible”. A 99% modelling quality is boasted, but this is not clear and if you understand what it means please leave a message.
Real Spreads: Variable spreads are supposed to be used for testing in order to help insulate Forex Cyborg from spread-dependency.
Real Slippage: They claim they are using real slippage simulation via testing in order to try and anticipate certain real trading conditions.
Trading Commission: The commissions are supposedly included in the tests in order to provide a more accurate projection of earnings.
Additional features include automated money management techniques which in essence are a form of risk management. This is supposed to create a safety mechanism which prevents your account from excessive losses. There is no minimum trading account size or leverage required, and the software is not broker dependent. This means you can use any broker you wish with this software, which is the only useful thing we have to say about it.
Pricing – It’s Not Free!
Packages start at €299.99 for the basic package which offers 7 currency pairs, 1 license, updates, a demo, and lifetime support. The Premium package costs €599.99 and offers 3 licenses and 14 currency pairs. The purchasing is done via click2sell which is a well-known online payments service.
Fake Reviews – Are There Any?
You bet! There are quite a few seemingly “honest” review sites which are endorsing this offer in return for bribes in the form of affiliate commissions, so stay alert and don’t let yourself get trapped and fall prey to these vultures.
Signals Versus Trading Robots
If you are not quite sure about which system is best for you it’s completely normal. Our staff of researchers has compiled a short and reputable list of the best and most reputable Forex and Options trading apps available online. These are all readily available for you in our recommended section.
Review Summary and Conclusions
The Forex Cyborg software is a verified financial SCAM, and despite its seemingly harmless appearance it is extremely dangerous. We now know it was designed with pure malice and the explicit intent of stealing money and defrauding innocent would-be traders. Our factual and detailed review highlights the various red flags and connects the dots in a very methodical and clear manner. It goes without saying that if you choose to deposit and “test” the proverbial waters using the Forex Cyborg software, you will surely end up getting scammed by con artists and lose your initial investment as this is not a legit or genuine trading app. In light of our indisputable findings and conclusions, we are forced yet again to blacklist this fake app and Forex EX software, and recommend our viewers and members opt for alternative trading options. Don’t forget to join our Facebook Page and YouTube Channel.