Today I’m looking at a new automated expert advisor with a very expensive price tag, FX News 999. The creators of this robot believe the price movements are too unpredictable but they have the answer to that conundrum. The software utilizes a primary data feed from the IQFeed company to monitor different prices and take advantage of price shifts that can be found by comparing the data between this feed and your personal brokerage.
It is unknown who the creators of the system are. The Twitter account associated with the sales page is registered to someone named Philip Carnell, who is located in Western Australia. Yet, the website is hosted in Singapore, in the image being used to present Philip to us, is a stock image that was purchased somewhere online. So, at this point we are unsure who has developed the software, and what their intentions are. With that being said, traders can contact support via email at email@example.com. This same address can be used to contact the developers via Skype as well.
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FX News 999 Review
As you can see in the last paragraph, I started to get into the specifics of the FX News 999 trading approach. To simplify what I said, the robot looks for small differentiation’s between price feeds to scalp and pick up easy winners. I’ve seen strategies like these many times in the past, and while the developers frequently show extremely effective trading accounts, the client accounts just as frequently show sharp differences. I‘m not sure if there is some sort of trick, or specific broker and virtual private server combination, but systems that rely on price feeds are normally great for the vendor accounts, and disappointing for those that sign up and want similar results.
I don’t want to totally paint this system with that exact same brush, but I’ve seen this exact sort of strategy and trading approach worked poorly time and time again in the past.
Type: Forex EA
Price: $1,110 + $30/mo
Strategy: Price Feed Scalping
Pairs: EURUSD, GBPUSD, USDJPY, EURJPY
The pricing and payment model for the service is convoluted and overpriced. The developers are doing the weird thing where they are offering the base price of the FX News 999 for $999, and then charging an additional $111 for every additional license. Yet, if traders do not purchase additional licenses with the first purchase, then additional licenses are charged at $333, instead of $111. What I don’t like about this, is that it’s confusing and that it’s a total money grab.
Not only is the vendor charging over $1000, but if you sign up for one license, and then 3 months later you want another license, they’re going to charge you an extra $222. This makes absolutely no sense, and to top it off, they also require that you purchase an IQFeed subscription at $30 a month.
This is really not my cup of tea.
The FX News 999 vendors allow traders to connect to one of their trading accounts using a login and password. Generally, I prefer my FX book, and they do tell us that they provide this as well. Although, on the results page when you click to go to the Philip Carnell page, we are told that it no longer exists.
Luckily, on the front page they have another my FX book account that shows a super Forex system that is gained over 230,000% in just over half a year. I just have a very difficult time believing in the legitimacy of this trading account. It looks extremely impressive, but there’s just something about it I’m not sure I can trust.
It’s possible they are connected with this Super Forex broker, that has a very shady reputation in their own right.
Update / Client Feedback
Since we first wrote this review in 2017, quite a few comments have come to light from the Forex Robot Nation community.
The consensus is that this expert advisor is a scam. There are over 30 comments and all of them are extremely negative. When dealing with this product, or this product producer please use a HIGH level of caution.
This simply isn’t a recommended product.
There’s just way too much under the surface with the FX News 999 EA the challenges my trust. I couldn’t imagine spending over $1000 on a system that I believe is doing something that I just can’t wrap my hands around. I don’t believe that this system can make traders hundreds of thousands of percentage points. I would be neat naive to believe so.
Please let me know you think about this EA, and feel free to challenge any of the points that I’ve made.
FX News 999 $1,110 + $30/mo
- Trading Results
- Client Feedback
- Customer Support
FX News 999 is a Forex trading robot that promises the world but fails to deliver.
Awful client feedback