This forex fraud article contains a Forex Tracer overview, a review of questionable profitability claims, and an objective Forex Tracer scam assessment.
Forex Tracer Overview
Forex Tracer 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 Funnel is marketed, lead some people to think the two may be related.
Questionable Vendor Profitability Claims and Issues
- Vendor claims positive back-tested returns of $335,083.57 net profit on a $25,000 deposit over historical testing during the period of 6/30/2006 to 5/22/2008 using EUR/USD on a 30-minute time period.
- This represents a claimed potential profitability of 707% per annum over the testing period, had the system actually been traded during that time.
Forex Tracer Scam Assessment
Is a Forex Tracer 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 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.
In general, we do not recommend that traders utilize Forex Tracer or any other forex trading robots. Basically, trading forex cannot be looked at as a way to get rich quick. Instead, trading forex profitably on a consistent basis necessitates that you come up with and improve a personal trading plan. Trusting your money to the decisions of others is not a proven way to become profitable in trading forex or in any other endeavor in life.