Forex Megadroid Review
Forex Megadroid is the latest “intelligent” Forex Expert Advisor to arrive on the market. Launched with a lot of hype on March 31st 2009, it claims to be able to quadruple your money with ease. But can it really? Find out more in our Forex Megadroid Review.
Forex Megadroid Review
Our Rating : 4.5 /5 (= “BUY”)
With our Best Price Guarantee!
Or keep reading below for our full review.
Forex Megadroid – Intelligent Trading
Forex Megadroid puts the final nail in the coffin for any of the “dumb” Forex Robots / Expert Advisors that still exist in the market. Market adapting intelligence is the new game in town, as witnessed with the success of PipZu and Automated Forex Grail.
If you’re read some of our other reviews, you’ll know why adapting to the market is important. Forex Trading Robots have traditionally been based on a hardwired set of rules – fine if the market operates relatively consistently, but absolutely useless if it starts to behave differently. While some robots will make you money in optimal conditions, to make good return in Forex you need an expert advisor that can make you money in all conditions – enter Forex Megadroid and RCTPA.
Forex Megadroid RCTPA – What Is It?
Forex Megadroid uses RCTPA which stands for Reverse Correlated Time & Price Analysis. This allows Forex Megadroid to actually attempt to predict what is going to happen in the market in the future – in particular, in the next 2 – 4 hours. The amazing thing is, it has an astonishing 96% accuracy rate when doing this. Needless to say, this gives Forex Megadroid the opportunity to be an execellent profit maker.
Forex Megadroid – Who’s Behind It?
Forex Megadroid has been developed by Albert Perrie and John Grace, two people who have both been in the real Forex market for a number of years – between them they have 38 years of Forex market experience. They first started developing Forex Megadroid back in July 2007, making use of the strategies that they had themselves seen making money for the big banks.
Forex Megadroid Profitability
You’ll see on the sales page that the makers of Forex Megadroid claim to be able to quadruple your money. I do think promises like that should always be taken with a grain of salt – but then, I think if any of the robots I’ve reviewed is able to do it, Forex Megadroid is probably the one. According to the website, in the first 90 days of this year, Forex Megadroid has managed to generate a profit of 330% – that’s a massive return. As always though, run it in demo mode first.
And genuine users are finding success and making money too – find out more in our comments section below.
Forex Megadroid – Should You Buy It?
The answer has to be yes. So much time and effort has gone into Forex Megadroid , and these guys do actually appear to be Forex Experts, unlike some of the other products out there.
Forex Megadroid uses the latest market adapting technology
Designed by Forex Experts and properly tested over a long time period
Superb profitability based on testing by the makers …
… and initial reports from users are that it is profitable for them too! (You can seem some examples in our comments section below).
Of course, the best way to find out how Forex MegaDroid truly performs is to test it yourself :
- using Demo mode until you are certain of how it performs for you
- making use of the 60 day money back guarantee if it doesn’t perform as expected.
We WILL update this review if anything new – good or bad – comes to our attention. If you have any genuine experience using Forex MegaDroid, please, leave a comment. 
Forex Megadroid Review
Our Rating : 4.5 / 5
Overall Assessment : BUY!
As proven below, real people are making real money with Forex MegaDroid.
Now it’s your turn!
With our Best Price Guarantee!
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I purchased their system yesterday and I have a problem. Do you have an e-mail address or phnone number for these guys? This is the Forex Megadroid System. Thanks
Hi David,
I believe you should be able to reach them on this address here : support@forex-megadroid.com or support@forexmegadroid.com (both should work).
Regards,
Ant
)
Thanks for the help.
I’m one of product’s Support Team.
Please specify your questions in the ticket. We will answer you in 12-24 hours. It takes so long because we receive 2000-5000 tickets daily. Thank you for understanding.
What, where is the ticket? Thanks
Ticket is your answer to support of MegaDroid.
Not an answer – a question.
I purchased the so -called droid! Im running it both on live and demo account!It has not made 1 trade! It went from waiting to running on my system without a trade. If this is a short term scalper why does it use H1 timeframe??
I have emailed support i have got no response at all! I have been spammed by your auto -responder at least 150 emails saying your ticket did not get processed with 1 email saying it has.
I have also try to back test the system and cant get anything going. Im starting to beleive the Megadroid that i have bought is faulty or not a work in progress at all!
You guys are supposed to be selling a great product yet i cant get anything goin??
I can see all over the net people are trying to flog this product for sales!
How about getting the service support up there to cope with your massive sales>>
I need an answer today otherwise i will request for my money back immediately!
Kind regards
Perry
Hi Perry,
Firstly, just to be clear the site you left your comment on (Forex-Trading-Systems-4-You) is a general Forex Review site and we’re not part of the Forex MegaDroid group, although yes someone from their support team did leave some comments on this blog.
Having said that hopfully this helps you a little :
- The support guy did leave a message on our board saying yesterday they were extremely busy
- With robots I’ve used in the past it’s not uncommon for them to sit for days before they make a trade. Basically they are sitting there waiting for the best time to enter the market. You are much better off with a robot that enters the market at the right time – even if it takes a few days – rather than one that enters straight away. It’s all about identifying the trend.
- Finally, although it’s your choice, remember you have a full 60 days to test this product out. So, even if you don’t hear back from them straight away, and aren’t comfortable using the robot in the mean time, you’ve still got a lot of days left with which to test the product.
I hope that helps a little and I’m sure you’ll hear from them soon.
Regards,
Ant
Forex-Trading-Systems-4-You.com
There are many reasons why a robot does not trade immediately. Sometimes it is watching the market and may not trade because the market is too volatile. If it does not trade for a week, then get worried. In the meantime check the following: Is the little green light lit at the top of the MetaTrader screen? or is it red? If it is red, press the button and turn it to green. There should be a smiley face in the upper right hand corner of your chart. If the smiley face is frowning, you have done something wrong. Make sure you have down loaded the .dll library and placed it in the proper folder. Left click on the smiley face and bring up the properties window. In the common tab check and make sure you have activated all the little squares properly. Some robots require a key number to be typed in the bottom of one of the properties window. If you are running more than one robot, make sure each robot has its own magic number entered in the properties window.
Give MegaDroid a few days to work. We will see how it works out.
George, How do I contact the support team. I need an e-mail address. Thanks
Perry is right to think about asking for his money back.
Comments about robots needing to wait for the correct moment to trade are fair enough but making those comments in relation to Megadroid’s failures is missing the point:
The Megadroid’s official website is publishing it’s ‘live account’ results with highlighted ‘Wow’ figures of XX% increase in 8 days, however the trades listed have not occurred in real customers accounts (people who have purchased the robot, set it up correctly etc etc), the robot just sits there, smiley face on, activated, spread <2pips etc etc and NO TRADES.
There is something wrong with this robot, it is not working at all for a lot of people and support have a blanket answer along the lines of ‘it’s your broker, it’s the forex market . . .etc.’ Well I’ve checked, my broker feeds the same price as others and the spread is good, GMT offset ok as is everything else.
Support also had the cheek to give me a copy an account statement of a supposed customer where a trade or two had taken place, as though that is supposed to help or reassure me, I mean come on guys, even if that was a real account statement, it is useless to me, the robot is not working with a large proportion of REAL people who have paid for it, what gives?
Some have suggested that the problem is with 5 digit brokers, where the spread on the Megadroid reads as 18 (instead of 1.8) however, support deny that this is a problem.
Anyone out there with a 5 digit broker (like Alpari UK) actually getting trades?
I really hope this gets resolved soon or I’ll be trying to get my refund.
HBJ, I’m having the same problems and I have not gotten a response from anyone. Who do you contact for help? If anyone is having trades let us know. Also should this system only work with EURUSA?
It is definitely designed (or set up) to ONLY trade EURUSD, that is not the problem, although the marketing is worded VERY cleverly, to a casual reader it may give the impression that it trades multi markets. But careful reading confirms that no such claim is actually made.
It also probably has some time restrictions for trading (maybe or maybe not) the emphasis on getting the GMT offset right is the give away. It wouldn’t supprise me if this robot was just another variation on Pipzu, Forex Rising, Fprex Autopilot etc, all apparantly good robots but can only trade the quiet Asian session during range market conditions, not wuite the ‘artificial intelligence’ that the hype reports.
I’m contacting the support team via the ticketing system on their website, they have got back to me once – with a patronising reply telling me that it’s my brokers fault – or the market’s fault – ‘Forex Markets can do anything’! – that you have to wait for the right conditions . . . . I’ve written again, no response yet.
David, is your broker 4 or 5 digits (dec places)? Megadroid support say it doesn’t matter but this seems like a simple potential issue and I haven’t found ONE person yet who this robot is working for who uses 5 digit broker. In fact is there anyone out there who this robot is actually working for?
HJB – it is true, Megadroid doesn’t work with 5 digit brokers. I sat waiting for a trade for 2 full trading days using Alpari UK (which works to 5 decimal places). Then I spotted that Megadroid was calculating the spread wrongly – it was displayed as 18 rather than 1.8.
Until this bug is fixed, people with 5 digit forex brokers will be waiting for ever for their first trade.
As soon as I noticed this, I emailed the Megadroid support team … but as yet no reply. I guess they are snowed under with people asking why no trades have been made, and it seems that everyone receives the standard reply eventually – just to wait and trades will happen. The megadroid team should have investigated these problems earlier and spotted that no trades have been made with 5-digit forex brokers.
You may as well get your money back now, and repurchase when the teething problems have been sorted. That way you will have a full 60 days of working robot to assess whether it meets your needs or not.
HJB, I’m using 4 dec. places and I have been in waiting status since the system was set up 2 days ago.
I have the robot on two demos. Alpari and fastfx. Wednesday no trade. Thursday a sell on Alpari that was a small loss and Two buys on fastfx on a $5000 account that are up over $2300 profit. I emailed them on wed. because there was no trades and was told that that is the strategy. I don’t think this is supposed to be a scalping robot.
by the way, both brokers are 5 digit platforms
Everyone,
Thanks for the comments so far … it’s great to have some discussion and I’m sure it’s helped those who’ve read it who might have been experiencing similar issues.
To sum it up so far then :
- it appears SOME people are having issues with 5 digit forex brokers, but others, like Mike, are having success
- other than that, as long as the robot is setup property, the trades will come even though they may not come instantly – it appears this robot is happy to sit and wait for trades unlike certain other robots that tend to trade at a speed that can get you into trouble with some brokers. Jerry’s post has some good indicators on what is required to ensure that Forex MegaDroid is ready to trade.
If it’s all setup properly, and you have smiling face, but still no luck after a couple of days then do contact support – support@forex-megadroid.com . They did say they have been snowed under as a lot of people have brought it over the last few days, but I imagine things should come back to more normal levels soon.
As far as live trading results go, the only user site I’m aware of at this stage that has live trading results is here . Forex MegaDroid is down the very bottom, the account has only just been setup though.
******
MOST IMPORTANT OF ALL – if you leave a comment here about something not working please come back and let us know the outcome – i.e. do you manage to get it working eventually?
I am happy to publish most comments within reason so please post away.
[Spammers - don't even bother trying to post your link here, comments are moderated before posting].
Happy trading!
Ant
I have 2 demos set up with MIG and Alpari UK
I have had trades on both. On the MIG Meta4 I have a starting balance of $5,800 and made a profit of $138 in one week with 3 trades.
On the Alpari UK demo ( 5 digits ) I started this only on 3rd. April with an initial starting balance of $50,000 and had one trade netting $930.07
As far as I can see Megadroid works fine on 4 and 5 digit values. I have had no problems and so far so good. I hope to move on to live accounts very shortly.
Just make sure you read the manual and go through the settings correctly. Also check the GMT setting. I am in the UK and the time shown on your computer bottom right is NOT ! GMT. We are on British Summer Time which is GMT +1
I hope to report back with further info as and when I go live with this but most impressed so far.
I have put in four questions and received three answers so far, My last question was whether the robot will close the trade before the weekend or do I have to close it manually or is it supposed to run for as long as the trend goes. Fab turbo says to close trade over the weekend. I’m not sure if this robot is a scalper or not.
I just let the robot run and do its thing without human interference. I have my demos set up on a virtual remote server so that it runs 24/7. Some of the trades close quite quickly but the last one set up on Alpari UK that returned $930.07 took a while to close. I guess the robot chooses a time to close in profit or loss in its own unique way.
I have the risk setting on a 5% ie: 1.05 as is my conservative nature. The official line is that the robot does not trade on Fridays, Sundays or Holidays, whether this means no NEW trades opened or whether it ceases to function on these days I am not sure. I would guess and hope that any open trade and in a losing position would still say be closed during a Friday if the market continued to go the wrong way.
But for the moment I just switch it on, adjust the settings and leave well alone to do its thing.
I just receive a notice for an auto update. After the update the system now does not accept my Receipt code and will not accept my log in. Anyone else having this problem?
I have this EA running on three accounts: two 4 digit and one 5 digit. It has been running since the 31st of February and hasn’t opened any trades.
[...] there seems to have been a paradigm shift in Forex Robots. For example, Forex MegaDroid was actually created by traders that had spent 37 years in the industry, and now, just a week [...]
I have been running Megadroid last week for 3 days, no trade first day then 2 trades one night and one the next, very good profits on an account with Alpari UK. It does say spread 18 but still seems to work for me. I also have to say that I have had response within 24hrs email through support althought answers very short and standard but still cleared up my question. On back testing it seems to trade at exactly the same time as FAP Turbo, which is the asian session only. I am in Oz so its the night early morning here when it trades. Hard to judge from 3 days but so far so good, I am trying to use it in conjunction with FAP Turbo. In back testing is seems to usually have a big streak of wins but then 1 or 2 massive loosers so beware…if you have recovery to true it will try and make up for any loss by doubling the normal trade size..if it gets it right you end up back to normal straght away if its wrong you double your loss on top off your previous loss!
I have it set to 20% risk at the moment.
Cheers
I have both fapturbo and megadroid running and they are doing extremely well. My live account went live on march 10th 2009 with only $321 and now sits at $955!
My broker ACTIVTRADES changed my account from standard account (4 digits) into a scalper account (5 digits) after he recognized that I use FAPTURBO and Megadroid.
FAPTURBO works well with 5 digits but MegaDroid? I am not sure for all the answers here in this forum but fact is that Megadroid show the wrong spread (18 for EURUSD) on screen and opens no trade after the account was changed from 4 digits into 5 digits.
Have anyone the same experiences?
18 point spread on a 5 digit account is the same as a 1.8 point spread on a 4 digit account.
Megadroid recognises this and accounts for it. I have have 100% winning trades with Megadroid so far in just over a week. My Demo account has gone from $50,000 to $52,609.22 as of today. (5.21 % in a week )
By contrast not had a trade with Fapturbo since Feb. 10th. as my Broker widens the spread during Fapturbo trading hours. But Megadroid has a broker buster code which prevents any broker from knowing you are using megadroid. Still early days but I know which EA I prefer.
I’m starting to have some suspicions about these robots. Both megadroid and the grail robot have called me and want me to give them $3500 to be taught to how to trade. They said that the robot is just a tool, and you you need their teaching to know how to really trade.I feel like a fish thats being baited. It’s like a come on. Has any one else had one of these calls. I told the megadroid caller that if he had no confidence in the megadroid maybe I should get a refund. He didn’t like that.
Mike,
This is completely new news to me, I had no idea that this was kind of thing was happening. From what I’ve seen/know, most people that have brought these kinds of robots already have a fair idea how the markets work … I would not imagine $3500 to be fair value, given the HUGE amount of free resources available on the internet that could teach you exactly the same kind of info. Good on you for sticking up to them!
Will be very interested to hear if anyone else has had this experience.
In my posts last year I tried to provide a little info on how the market works, however for a much more thorough education I recommend http://www.babypips.com/school/ … all free!!
Ant
I was also contacted and given a price of $3500 to $7000 depending on how much one on one coaching I needed. I told the girl that called that I thought this was suppose to be a robot that keeps me from making bad trades. She said that some people had lost up to $10000 using the robot because they did not understand Forex Trading. I told her that I will trade using the practice account and if I don’t have success I will ask for a refund. I thought this was 2 guys that developed this robot but it sounds like they plan to do one one coaching on how to use Forex Trading.
I’ve been receiving email soliciting the Forex MegaDroid and it has sparked my
interest. However, I’ve got one major question which I can’t seem to get answered.
I don’t have high speed internet and therefore am forced to use my home phone
line for dialup. I also have cellular internet as well, but both require a dialup and
cannot be connected nonstop. My question is: Is high speed internet required in
order to use a forex robot? Does the computer have to be on all the time?
Does the internet connection have to be running in order for a trade to take place?
I also have the 64x Windows version which is generally not compatible with 1/2 of
the programs out there. Would that pose a problem?
Hi,
Highspeed internet is not necessarily required, BUT, anytime you are running the robot you would want an internet connection to be established. The reason for this is that the robot places stop loss limits as well as sell / buy orders … so, in the worst case scenario, if the robot had opened a trade and then got disconnected, and the market then took an unexpected turn, the robot would not know that the stop loss limit had been reached, therefore would not close the trade, and may expose you to larger losses than you would have otherwise had.
So, in summary, the computer/internet does have to be on all the time when a trade is open.
In regards to the 64x question, I’m not too sure on this one. You can download demo version of the metatrader software that the robots run on here – https://secure.ibfx.com/forex-software.aspx … it says it’s not Mac compatible, but if it runs on your system then as far as I’m aware the robots should run (as they are effectively just a small add on to the metratrader software). If it doesn’t work then do some googling and see what you can find – quite likely there are some brokers that have 64x versions.
Hope that helps,
Ant
I got a call to from those megadroid people, before the guy finish reading off his sales speech i told him not interested and hung up then sent off an email to them. That pissed me off.
I have had the Forex Megadroid running on a demo with Forex Meta since 4/7. I have risk setting of .25 The robot made 6 trades, 2 on the 8th and 4 on the 9th. Total profit of $611. on a starting blance of $5000. Bob
All,
Just a quick note for anyone using Interbank FX – you should already know this, but they are moving to 5th decimal pricing … on demo as of tonight, and on live as of May 17th … read more details here :
http://forex-trading-systems-4-you.com/2009/04/interbank-fx-ibfx-to-move-to-5th-decimal-pricing/
Regards,
Ant
Permalink, I would like to know what the best settings for the megadroid? i have set up the droid and not even a single trade since last week??? the statue “waiting” still…. i’m with alpari uk. anything can you help me with to fix it. step by step would be great if can email me i’m newbie thanks
I bought the Megadroid a few days ago and am waiting for it to trade my Metatrader demo account.
Does it need my laptop to work 24/7 to trade? Otherwise how can I set up a demo on a virtal server? I have no idea about this. Anyone can help? Thanks.
Hi Steven,
I think the best advice would be to contact the MegaDroid support team.
Of course, bear in mind that we have had a long Easter weekend here in the UK, so potentially that may have impacted whether trades have been made or not.
But other than that, best to contact support@forex-megadroid.com or support@forexmegadroid.com. I know there have been people reading these comments that do use Alpari UK, so with a bit of luck they may look here again and be able to give you some help – but that’s not guaranteed. Unfortunately I have no experience with Alpari myself.
Regards,
Ant
Hi Tony,
In regards to needing to be on 24/7 :
In regards to your question about using a virtual server, I presume you mean using a demo MetaTrader4 platform? i.e. you want to see how the robot works but without investing actualy money in trades? If so, Interbank FX (IBFX.com) have a full demo metatrader4 platform that you can download and setup the robot on.
Regards,
Ant
Hi Ant,
Thanks for your reply.
Re using a virtual server I wonder if we can put our actual trading platform on a virtual server so it can trade 24/7/365 with no need to turning on our personal computers all the time. The trading platform is always working on the server regardless if our pc is turned on or off.
I saw Steve mentioned in his April 5 post he had a demo trading on a virtual server that runs 24/7. I don’t know if it’s like what I’m actually wish to do.
Thanks.
Hi Tony,
Ahh of course, now I get ya!
Forex Hoster is one such service whereby you can trade on a virtual server. We’ve done two articles on it, which go into it all in a bit more detail. You can find them here :
http://forex-trading-systems-4-you.com/category/forex-reviews/forex-hoster/
Happy trading!
Ant
Thanks Ant!
I’ve installed the FX Megadroid successfully with a smiley face in the top right corner of 1H EUR/USD chart of Metatrader demo. But no status message has ever appeared in the top left of the chart. Is it normal or does it prevent the robot from trading?
I’ve sent a ticket to FXM support but no ticket# has been received. I did receive their welcome letter 2 days ago which was sent to the same email address. Strange.
Risk level should have read 0.05 not 1.05
Although I run the aggressive setting.
Has anyone had any trades since Thursday?
hi,
how to clean the data if i have 17 mismatched charts in the report?
thanks
Mike
NO trades with Megadroid since 9/9. Hmmmmm. Anybody else???