Forex Legend

[Simon]

Another week, another Forex Expert Advisor. But this one is different. Again. Actually, this one is different. Rather than rehash the same old lazy copy and Photoshopped statements, the guys at Forex Legend have actually gone to rather excessive lengths to prove that their robot is profitable.

They actually have a whopping (and needless) 52 accounts on www.myfxbook.com which you can access from the ForexLegend.com website, just to prove the darned thing actually works.

So far so overkill. I mean, impressive. Looking through some of the statements, it is interesting to note that the robot generally averages a 96% win rate on long trades, and 98% win rate on short trades.

This is not an unusual feature of Forex trading robots, so is Forex Legend any different from the likes of Megadroid and FAPTurbo in terms of the Risk:Reward ratio?

Let's take a look at a couple of statements:

Total Pips: 3322.2
Average Win: 18.32 Pips / $16.65
Average Loss: -53.15 Pips / -$52.91

Total Pips: 3484.2
Average Win: 18.58 Pips / $107.24
Average Loss: -53.08 Pips / -$575.82

Sadly, the answer is, Forex Legend is very, very similar to both of the other two famous Forex EAs.

On the plus side, the high win %, coupled with the independent verification means that this robot is profitable right now. Furthermore, some of our members are quite happily using Megadroid and making some money with it - meaning this could do the job for you as well.

Whilst I am not a fan of robots with skewed Risk:Reward ratios, there is no doubting that what Forex Legend has achieved in live trading thus far is impressive.

At $197, and with a 14-day money back guarantee, we will cautiously say that this EA doesn't look too bad.

Forex Legend EA

Addendum: We have emailed the creators of Forex Legend and requested a trial which we will run on a VPS.

We'll let you know how we get on.

[Mery]

I am very interesting in this EA. I was ready to buy it, but it has appeared a lot of negative reviews about it in Internet. a lot of them said that FL is SCAM. What is your opinion about it?

[Fxmen]

Yeah, I've heard about that! just need some real results!

[capsmart]

Simon no news from them yet?
Did you get your demo?

[raa]

Forex Legend | ForexLegend.com reviews and ratings by Forex Peace Army

[Fxmen]

And what about Elite version? any information?

[raa]

55% of trades are losers, 25% of equity lost in just 1.5 weeks. I wonder why people are actually PAYING to get this.

[capsmart]

I love you FxMen
Did you read the link raa provided?
Did you read the forum for specific robot?
It is a product that lost 25% in one week and you want to know about the "elite" version of the product?

[raa]

I love you FxMen
Did you read the link raa provided?
Did you read the forum for specific robot?
It is a product that lost 25% in one week and you want to know about the "elite" version of the product?

25 is not good enough, "elite" can provide probably with a full blown margin call

[Thomas]

Fxmen, I have wasted allmost a year on robots and don´t know anybody who have made more than funny money on robots. My advice is learn to trade with Marc, Dean and the more experienced traders in this forum and ignore all the hype about robots:-)