Forex Megadroid claims 95.82% accuracy with an FX Trading Robot of artificial intelligence. Before you raise your expectations, read this impartial review of the Forex Megadroid and find out the truth.
Forex Megadroid – FX Expert Advisor – EA – or Scam?
Based on many recommendations, I have recently purchased the “Forex Megadroid Robot” I have based my purchase on the many reviews I have read that the EA Forex Megadroid is the “it” software. Given that it has been around for a long time, and granted that I am tired of reviewing and losing money with scam binary option auto-traders, I decided to give myself the Forex Robot break!
Although in principle the basics of trading are the same for Forex as they are for binary options, I felt that I am a complete virgin when it comes to automated traded in FX. This is the reason why I was looking at what is supposed to be a user-friendly robot, that would help me make money trading Forex.
Why Could Forex Megadroid Robot Be Scam?
This is exactly the question that I was asking myself when I first started trading with the Forex Megadroid Bot. Is there a reason why someone should sell you a robot that is rigged?
This is the dirt that I unearthed when I was investigating the Forex Megadroid in depth for the scam.
As with binary options, the bottom line always boils down to the broker that you are dealing with. Whereas in FX trading on Meta platforms you are trading directly in the open markets, some brokers work out in a different system.
When Forex trading tools and robots emerged some years back, brokers were shocked to find out that there could be systems where the algorithms are written so well that they actually have consistent winning trades.
Why would a broker be shocked? The reason is very simple. The brokers that are typically trading against traders were the ones to be shocked. In regular circumstances, a trader that is trading against the broker, will either win or lose against the broker. Therefore if the trader wins, the broker loses. If the trader loses the broker wins.
Hence, it is natural for the brokers to want a fair and equitable kind of trading on their platforms. What happened with the inception of great robots? The introduction of well-produced robots, meant, that the brokers were being disadvantaged. If too many traders were consistently winning trades, the brokers would consistently be losing money.
Is Forex Megadroid EA A Forex Scam?
I guess you know where I am headed! What did the brokers start doing in order to protect their huge chunk of winning pie?
Yes, it is exactly what you are thinking! They started rigging robots! The brokers themselves started writing out software that was intentionally rigged and make traders lose their trades.
The robots were in turn introduced on the market under the premise that they are independent software systems, that would help you make money trading. However, in most cases, the robots would start off trading well, encourage you to invest further, and after that, you can start seeing your software acting up. In no time your capital is gone!
Forex-Megadroid EA – Complaints and Disillusion
The Forex Megadroid EA is powered by Forex-MegaDroid.com. The same company also has other sites that include Forex-Scalpa.com
Before I go into any detail about the FX Forex-Megadroid, the MT4 expert advisor, I would like to channel you to one of the most important sites, that receive comments and complaints about robots and signals software systems.
I am referring to Forex Peace Army. The site is a forum style site, whereby real traders can leave their comments and their experience when trying out any software or FX Robot.
In the case of the Forex Megadroid, we are sadly left with deflated expectations. Of particular disappointment is that many who have been trying to obtain refunds on their purchase are just not managing to get them.
Here are some screen shots of real complaints from real traders. This is especially true of the after sales service and customer care. These are real Forex Megadroid complaints. They are not just backstabbing fictitious comments by competitors.
Image courtesy of ForexPeaceArmy
What is the Forex Megadroid EA?
Forex Megadroid the alleged Expert Advisor is a software intended for traders who want to trade automatically in Forex. The system was designed by Albert Perrie and John Grace.
There is no question, that when it was launched the Forex Megadroid was a sensational success. It became one of the top-selling Expert Advisor or signal software. However, what we need to establish at this point is whether this software is still the answer to all forex trading prayers.
The Forex Megadroid is designed to predict how prices will move in a very short span of time. It is very much like a Scalper type of Robot.
Perrie and Grace, the designer of the software claim that their algorithm has generated a profit of more than 15,408.37% in the years between 2009-2017. So what has gone wrong since then?
How Does the Forex Megadroid Work?
The specifications that we are told move and shake this “winning formula” is by randomizing the system. Therefore according to its developers, the software is able to work with any broker. But that is not enough. The software is meant to make its algorithm invisible to the system, and as such the brokers cannot manage to trace its activity.
It is claimed that the Forex-Megadroid EA has the ability to predict price changes up to 4 hours ahead of any change. It is a trait that allows it to gain 95.82% accuracy.
How Much Does the Forex Megadroid Cost?
The software can be purchased for a one- time payment of $67. The developers are keen to accept any type of payment including credit cards and PayPal. They also technically offer a 60-day refund. Everything looks legit and above board.
As a trader and a blogger, I understand the value of good systems that help traders, especially newbies, set themselves on the road of trading forex and making money online.
I also appreciate that money is hard to come by, and investing in the Forex Megadroid expert advisor, may not seem to be a hefty investment.
On the other hand, I am very mindful when traders lose their capital. Therefore the results being boasted about Forex Megadroid by the developers should be well compared with the results experienced by real traders.
Scam or No Scam???
Forex Megadroid Conclusion
Although I would not make a statement as strong as saying that the Forex Megadroid is scam, I would certainly tell my subscribers to thread with caution.
It would appear that one of the major concerns over the Forex-Megadroid EA is that the software rarely trades, and is as good as dormant. Others have experienced capital loss. Very few have sensationalized their comments with substantial earnings.
Therefore my bottom line for the Forex-Megadroid would be on one:
Exercise Caution When Subscribing with the Forex Megadroid
Thank you for taking the time to read this review. If you are a new trader you should be following a very important chain of advice.
- Get a Reputable Broker that is Licensed.
- Give yourself an education and learn how to trade like a professional. GO HERE AND FIND OUT MORE
- Join a Social Trading Group where you will receive live signals from real traders
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