Reviews

Forex Megadroid review - a big scam!!!
Rated: Good [4/10]

A friend of mine told me about the various Forex automated systems out there. It looked like an easy way to earn good money, without actually putting in a whole lot of mental effort.

Now, herein lies the key to making a mistake. I went for the Forex Megadroid, and have regretted it. The so called miracle software is essentially cheap imitation of the real system. It’s a bad and supremely inefficient version of the Forex Android. I didn’t know that when I chose the Forex Megadroid but I do now. So, beware!

It’s a Fake

How do I know it’s a Fake? Well, it’s pretty simple really! I made absolutely zilch money from it. Don’t get swayed by the grandiose claims like “Dollar Quadrupling”.

There is a bigger chance of your dollars dwindling rapidly with this so called “Perfect Forex Machine”. It’s not just a fake but a scam. Many a times I have come across Fake’s that work but sadly the makers of this product never thought about this important pointer. The Forex Megadroid needs to work.

The Big Scam

If you want to bite into a scam, go right ahead. Like me, you are going to find the taste very bitter. If you go by the claims made on the product website, the Forex Megardoid has been churning out the money for its users for a number of years. However, the site was created just a few weeks ago. Get it! The creators of the product are lying through their teeth.

And try to google its creators\' names. They claim to be Forex gurus but you will not find any info about them older than few weeks, and still all this info will be on affiliate sites.

Negatives and More Negatives

When you are trading on the Forex you don’t want a negative month. With the Forex Megadroid all I kept having were negative weeks. I started using it some 2 months ago, and all I have had is negative months.

 The irritating part is that all I can do is fault the intelligence of the software a.k.a. intelligence of the creators. That’s about it. I can curse, rave and rant, but that’s all; and this is a daily occurrence.

Newbies Beware

If you Google ‘Forex Megadroid’, and search for reviews on the product, you are going to get a number of positive reviews. This is an outcome of all the slick marketing that is been done to lure the many newbies out there. Most of these reviews are sponsored by the creators and I would advise you not to fall for them. There are some non-affiliated reviews and you could go through them to get a better idea about the product.

The biggest problem with the Forex Megadroid is that it runs on a defective meta-trader platform. It’s an unstable platform and thus gives bad results. For me, the experience of using this Forex system has been nothing short of a nightmare.

 With other systems you have the advantage of live forward testing that can be confirmed by hundreds of traders. However, with Forex Megadroid, you really don’t know whether the traders that are confirming the test are the real deal or not.

My Verdict – The Forex Megadroid is a giant waste of your hard earned money and effort.


EDITED BY ADMIN: Stay away from Forex Megadroid scam. I\'ve had bad experience with it as well.

Read their disclaimer:

\'All results shown on this website are hypothetical, back-tested results"

Thank you again stefan303 for your input.

YES! FOREX MEGA DROID ROBOT IS A CLASSIC FAKE! Its really big scam. My Friend loss his $5000 when dealing with FOREX MEGA DROID and when you go to their site, they will tell you that Forex Megadroid is true and absolutely not a scam! So beware from this scammer.

Comment by shaunmitchell — 01/05/2009 06:10:36 , Tag: forex megadroid review

Everything was fine until I tried to withdraw some of the profits I\'d earned. Suddenly, they stopped replying to my emails and locked my account.

Comment by sam — 02/05/2009 03:38:27 , Tag: forex megadroid review

Heah! saying right It is the big scam. Anyone buy it will loose it money.

Comment by ricky — 04/05/2009 02:41:47

I also want to tell that it is the scam product Don't buy unlike you will loose your money

Comment by sunny — 05/05/2009 02:49:54 , Tag: forex megadroid

oh!!! its a big scam, really don,t trust on it.

Comment by jime carie — 06/05/2009 02:41:00

megadroid is big big scam product do not buy it.

Comment by ricky — 06/06/2009 00:01:08 , Tag: forex megadroid

Its a worst system . I was so stupid to purchase such a scam product . Megadroid is a big scam....

Comment by rick — 24/06/2009 02:10:12

I puchased forex mega driod the first trade it did made $800 and I thought, cool, after it closed that trade it took a short position on the same pair and finally closed the position AFTER it lost $6500. I could've put a monkey at my computer and got better results than megadroid. Im far from a seasoned trader but I know Im better than that thing. In all fairness I,ll say that I did get my money back easily though

Comment by patrick — 06/09/2009 10:45:45 , Tag: forex megadroid

I also bought MegaDroid. As with all my robots I put it through the Forex Acid Test - the Forex Acid Test is a back test run from January 2007 up to December 2009 using only $500 as the deposit.

Depending on the Risk setting, surely MegaDroid will blow your account within days! During my Forex Acid Test I have found that the best setting is a risk of only 3. If you make the risk setting anything over 3 the account is blown.

The end result over the 3 year Forex Acid Test is $29,331.47. This result will differ from broker to broker due to the different spreads and devious tactics brokers use.

I am still convinced that MegaDroid works as I could see how the robot recovers after a loss during the back tests. Maybe you are right and I am wrong, but I am willing to take my chances as my back tests for 10 years, 9 years, 8 years all the way to 1 year shows that it is working - yes, there was losses, HUGE ones, but it recovered from the loss and ended in profit every test. Everything is dependent on the risk setting.

Ps: The only other robot that survives the Forex Acid Test using only $500 deposit is Forex Nuke - end result after 3 year Forex Acid Test is $77,927.96

Forex Nuke: Risk=1 TP=40 SL=250 MM=True

MegaDroid: Aggressive=True AutoRecover=True Risk=0.3

Comment by Barry — 23/02/2010 12:32:33 , Tag: forex megadroid review

Thanks Barry. Looks like a bit of good info.
So what's UP(!) with an EU that can't get this stuff figured out? I'm from the "old country" where it was GI/GO (garbage in/garbage out. And I hate SCAMs.
Are we saying Megadroid is fine EXCEPT for its default settings? AND that Forex Nuke is good, as well?
Anyone care to recommend a good broker? I hear THAT is important, too.
Thanks all!

Comment by Duane — 27/03/2010 11:27:30 , Tag: forex megadroid

Barry, What you said must be the most subtle kind of advertisement I have ever seen. You are a Con Artist! It takes one to know one!

Comment by Tom — 25/06/2010 14:59:45 , Tag: forex megadroid review

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