Today I am reviewing a new cloning trading software Forex Profit Copier by Mike Foley.
This new software is an automated trading system that opens and closes trades by cloning a pro trader’s MT4 account as he trades using Forex Profit Copier. So you basically get access to a professional traders account. How much is this access? Surprisingly low at $67 and it is being sold on the Clickbank payment processor which comes with a 60 day money back guarantee.
I have recorded a video to help better explain the product so please take a minute to watch it completely.
Now I will get further into the Forex specifics so you know exactly what this is. I discussed a lot of this in the review but here it is likely easier for me to explain it to you. This software is 100% AUTOMATIC. Mike Foley makes a trade and you get that exact same trade in your account.
Forex Profit Copier certainly has me interested but there are a few points I made in the video that I think are very relevant in bringing up again. One was a RED FLAG, so I will start with that. While looking at the MT4stats.com results provided on the sales page I found something concerning. The date on the page was October 15 with a time stamp of 18:56 that does not change.
Now, I am no conspiracy theorist but I do find it important to point out that the last trade for this system was over two weeks ago. I am sure there is some sort of valid reason like maybe the Forex trader is spending time on the launch but I would imagine during a product launch the results would be of paramount significance. This is just something I found and thought was valid in pointing out, although I am not going to condemn the software due to this one factor.
The next thing I mentioned in the video was latency. When trading Forex with any automated system your internet connection becomes a huge issue in making the accurate entries and exits required to have success. Any delay and money is lost. For this reason I always recommend that traders utilize a Forex VPS which provides a fast and secure connection.
If you don’t have one, make sure to visit this page to understand more on how a Forex VPS works and where to get one.
Forex Profit Copier Review – Conclusion
- Pro trader trading for you
- 100% automated software
- 60 day money back guarantee
- Forex Profit Copier: $67
- Virtual private server a requirement
- Weird missing period of results
- Forex Profit Copier Upsells: $97 and $47
This is certainly a unique system that I do feel inclined to test. I am sure you will be hearing a lot about this Forex software so make sure that you make the right decision. Also be aware that you do have 60 days to return the software if you are not satisfied.
Based on my RESEARCH – I am comfortable in purchasing this software. I won’t give it a full recommendation but with the guarantee I see no reason to avoid it unless you just don’t want to test it.
Please leave a comment with your experiences so the rest of Forex Robot Nation can learn from your expertise.
i bought the basic version at november arround the first. Extreme version on the 5th november. I am still waiting for my license code for the extreme version. no answer to my e-mails from the support about this. BUT the trades they are doing so far are FINE.
In November i did it small with 0.01 lot. Since december with higher lot sizes 0.11 to 0.16.
20 Trades / 15 Winners / 5 Loosers in december. My account is in Euro + 122,98 Euro and – 31,29 Euro
all in all in december plus 91,69 Euro. That is not so bad. Account size ist not so big 3.200 Euro.
TQ, Phil B.
Siti, I’m assuming you purchased through clickbank. Go to their customer services and you can get refund through them. I did it.
yes, on Tuesday 20th I email it to them for help but until today they din”t reply and today I just sent an email to them request for refund ..do I need to cc to any body or organisation to make sure they pay me back?
Ckeck out this page: (Buyer Beware) http://www.forexpeacearmy.com/forex-forum/has-anyone-heard/22167-forex-profit-copier-buyer-beware.html
I purchased FPC basic on 17 Nov, until now there is no trade, not even single trade. I think to request refund. can anybody tell me how to request refund.
Have you contacted them for support Siti? The software does trade.
I purchased this on 7 or 8 Nov, first trades placed on 9 Nov, 3 trades, all losers, first one lost over 50 pips, second one 15 pips and I closed the last one manually when it was 30 pips in loss. Was using 0.01 lot size, so lost about $10. The next week, requested refund. Don’t bother with this, if you’re thinking about it.
Check out this page: from a product that was marketed mid 2011.
Looks to have some of the same screen shots, and same marketing from a trader named James Adams. The video script is almost the same between traders (“actors”?). I actually bought this, and have been using it for a while, making money, but no one replies to the support email any longer, and I don’t really know if the trades are being copied, but oddly enough, it makes money for me.
I just inquired to support email on the similarity of product. and if they are marketing a different trader now. Curious to see what they say.
If they say anything at all.
I let it run on a demo account. There were only a few trades with minimal loss, several days passed without any trades. It is far from the daily pips he has promised. When I asked why don’t he trade I got the answer (after two days) that Mike has “emergency” in his family. It is not good if this service is a one man show. I am also thinking about the refund.
I asked Mike Foley to prove he is not just an actor but that was ignored .He has an American accent but the emails come from the UK .He only trades the EURUSD pair even though I have paid for other pairs . Scalping was not mentioned in the over the top sales page. My account started at $792 and now it is $761.90 . A refund request is not far away.
As a “newbie” I thought this might be useful to watch and (perhaps) learn from; also to make a few $$$’s. I bought the Extreme version (upsell from Basic) and then Boss (further upsell). Support recommend lot setting 0.01 initially and “will communicate with individual clients to ascertain their specific circumstances”. [paraphrase]…so far no contact in this regard. “Tweak” to Boss system issued late Sunday (11th). Trading commenced 13th Nov…so far 4 trades (all EURUSD), all very small (testing~?) 3 losers, 1 winner: largest profit $1.88; largest loss ($1.36) overall profit $0.07. No trades 15th or so far today (16th GMT 06:54). Support relatively slow, normallly automated response (12 hours+) and then answer within about 24-36 hours (worse during launch, which is perhaps understandable). I seem to have written a lot about not a lot…but it’s just my experience so far.
Good to hear your experience. I hope you get some more winners!
All static images should be assumed to be fake. Only live data stat feeds are trustworthy. Either from myfxbook or mt4i using the EA Publishers. Anything else is suspect unless they give you an investor password login.
Hi has anyone used the Forex profit Copier? any out there worth using
Hi has anyone used the Forex profit Copier?
If it is true what Teri said on this page, ” this Cloner is being said to be authored by 3 professional traders: i.e. Mike Foley and Greg Stefaniak and Thomas Hunt “, then stay away from these scammers because I know I tried Greg’s Cloner this Summer and it really blew my account to zero.
And this explains why this Cloner is very similar to the Cloner that Greg’s used, and also Mike is recommending the same Broker as Pepperstone, the same Broker that Greg used when it blew my account.
Thomas Hunt was the guy who introduced Binary Options with so many faked trades on his website – I know some of the trades are faked because I’ve been trading Forex Binary Options for almost 2 years.
So stay away from these scammers !
The trade prices for the given pair he claims to have executed on dates in Oct and Sep are bogus, I checked my MT4 history, the prices he published in his statement are incorrect, unless he got these from a different planet, lol!
Stay far away from this scammer!!!
Attempt to close the browser or say leave their page and you’ll be offered with 20$ discount, and if you proceeded with the order you’ll only pay 47$ instead of 67. I’m not trying anyway. Thanks for the great review.
I’ve found that this Cloner is being said to be authored by 3 professional traders: i.e. Mike Foley and Greg Stefaniak and Thomas Hunt. Who Knows?
Good review- I am looking at it on the 4th Nov and the stats still say 15th Oct- definite red flag for me. Keep up the great reviews.
Hey Gary, thanks a lot for the positive feedback, definitely adds some fuel to the tank!
One thing that everyone should know is that mt4stats is super easy to fake. All you have to do is save your MT4 statement then open the html file with some HTML editing software like Frontpage, then change the statement anyway you wish. Then save the statement.htm file, log into mt4stats through FTP and then upload and replace the statement.htm file and there you go, a winning system!!
Haven’t had the most success with these cloner systems in the past but this one does have me quite intrigued.
Really appreciate the review.