A few days ago I was thinking about buying CypherFX.
In fact there is a 50% discount promotion, and the price looks very good. But, there is something wrong, and I decided that even $147 is not worth, this is why:
- The website is full of the usualI marketing bullshit. Enthusiastic reviews that are blatanly fake (I read on donnaforex that were present even before the actual EA commercialization!), impossible promises, and so on. The perfect website that a company that makes EA should be like the SteadyOnFX one. Just a plain wordpress site, with REAL RESULTS, no bullshit, no demo testing and no backtests based on hypothetical results from 1999. I can’t go back in time and use an EA from year 2012 in the year 1999 like the Megadroid guys are doing on their website.
- They have 2893 fan on their Facebook fan page.
That’s impossible, all of their posts are useless garbage spam (it’s their trades and some other marketing). Who would fan them and see thousand of those messages?? They used black hat techniques to get automated registrations from thousands of fake users to get a lot of “fans”. Just see the stats to understand what I mean! They get 1500 fan a week and most of them come from New Delhi…
- They have 2168 follower on Twitter. Here is also impossible, their tweet are 100% spam, who is gonna follow them??? Let’s make some example! @t51115381, @Zokimaster, @shaunhirst1, @Yeliane
registered on Twitter JUST FOR FOLLOW THEM (they never tweeted something!), and the others seem like they subscribed to an automated “mutual following” service to get an higher follower count and get a longer e-penis.
- The system creator is famous for his marketing campaigns, like his “magic” video course on oversold-overbought, that actually is an indicator that say when buy or sell. For just $10 I was tempted to buy it, then I realized this: if this indicator is that magical, why he didn’t make an EA out of it? Probably it’s not that magical, if it doesn’t make profits, the user will think that he made something wrong, instead of blaming the system.
- I read on donnaforex that the tech support doesn’t answer email.
- I read on donnaforex that people have open trades in loss from the 1st november (almost a month!)
- I read on donnaforex that someone lost the 30% of his capital (but they set the aggressivity/risk to the max).
- On donnaforex there are many people writing about the losing trades opened a month ago, but the seller doesn’t answer it. Instead, he wrote about the black friday sale!
- Then the main reason: the official myfxbook account
doesn’t have the negative trades that the customers are claiming on donnaforex, and does not trade since 16th november! (one week) It should trade everyday! They disconnected it intentionally, to hide the losses? The open trades are hidden, maybe it’s down hundreds of pips, but the graph shows only profits! In the forex world transparencyt and honesty of sellers is a must, how can I trust someone that hides bad results by showing only good ones?
I have to say a “thank you” to the heavy Italian taxation: I already clicked “buy now” when I noticed that a 21% VAT was applied to the total amount! I shouted “WHAT???” and I closed the window, having more time to think about it.;-)