Review of the Forex Legend EA = SCAM
Forex Legend Is a Copy of a free EA called MACCIMO V2 by Cacus.
| EA Name | Currency Pairs | Timeframe | Strategy | ECN | 4&5 Digits | Take Profit | Stop Loss | Home Page |
| Forex Legend | EURUSD / USDCHF | M15 | Long-term | Yes | Yes | Dynamic | Dynamic | Forex Legend |
Performance (Forex Legend EA Test Results)
License
Forex Legend is $197 one time fee through Plimus with only a 14 day refund policy.
Strategy
Forex Legend looks to thrive on 1-3 day micro trends. Will update this when I get a copy and find out more.
Recommended Brokers
FX Open and Iam FX are two great brokers for running robots with their tight spreads and great execution time during all hours of the day.
Conclusion
Forex Legend has $115,000 in real money on live trading accounts. The 5 accounts they show on the top of their sales page however are all demo except one which is odd. Their real accounts are there to be found though and all profiting. From March to May Forex Legend was a losing system across the board. Only until June and July has it started making money so keep that in mind with this 14 day refund policy.
Update (July 27, 2010) – It’s been proven that Forex Legend is a SCAM. It is a complete copy of a free EA called Maccimo V2.
Safe To Buy?
NO!
Forex Legend has not been approved for purchase because it is a copy of a free EA called Maccimo v2.
Overall Rating
Got a refund on this robot….it showed some promise on the scalping strategy and had about a 60% win rate, but I gound that my other profitable robots ended up supporting this one all the time, the trending strategy basically places 5 trades almost at the same time and today wiped out last weeks profits from other ea’s im using, which was about 20%…in my opinion didnt like, so has been dropped from my portfolio, still waiting for refund.
Hi FBI
Can u email me free EA’s which are profitable on my above email id
let me check, free really EA works 😉
regards
Nehal
has anyone run backtests on both of them? I mean, FL and this MACCIMO, which I personally never heard of? I’d like to see the results. Please tell me if that is possible to get. thanks.
That is not true. The Forex Legend trades on different timeframe and currencies. IF this is a copy of free Ea then why this EA is free? Have you ever seen a free proftable EA?
It unfortunately does appear to be true. Forex Legend is using the exact same TP and SL as with Cacus’s set files for every currency pair. And yes I know of a few profitable free EA’s.