This forex fraud article contains a Forex Funnel overview, its questionable profitability claims, and an objective Forex Funnel scam assessment.
Forex Funnel Overview
Forex Funnel is automated forex trading software that operates as an Expert Advisor on the popular MetaTrader 4 forex trading platform. This forex robot’s developer remains a mystery, although similarities with how Forex Tracer is being marketed, lead some people to think the two may be related.
Questionable Vendor Profitability Claims and Issues
- Vendor claims positive back-tested returns of $462,112.87 net profit on a $50,000 deposit over historical testing during the period of 1/3/2005 to 6/11/2008 using USD/JPY on a one hour time period.
- This represents a claimed potential profitability of 269%per annum over the testing period, had the system actually been traded during that time.
Forex Funnel Scam Assessment
Is a Forex Funnel scam going on here? Possibly.
Basically, many forex robots are back-tested by their vendors over historical pricing data to come up with outstanding profitability claims over a carefully-selected time period, currency pair and choice of setup parameters. As a result of this optimization process, future profitability and the use of different parameters or currency pairs may generate results that can be nowhere near as good as the testing returns.
Usually, people who purchase these robots test them by having them trade in a demo account during the guaranteed return period. If the results look disappointing, they then return them via Clickbank.
Basically, we do not recommend that traders use Forex Funnel or any other automated trading robots. Forex trading is not a get-rich-quick scheme. In order to trade forex profitably and reliably, you need to develop and refine your own trading methods. Trusting your fortunes to others is not a viable path to success in forex or any other venue in life.