Is the Forex Tracer a scam?

Question

Just looked through the web and came across this forex autopilot, was wondering if anyone has worked with it or knows if it is reliable.

Answer 1

Yes, I tried Forex Tracer.  It is not a scam and it did produce some good results for me.  

But you do need some knowledge of forex to be able to use it successfully.  a newbie can use it and make money too but long term I worry that they will not know when to stop of if situations change.

Answer 2

Like you, I tried to find best expert advisor and read about forex tracer trading system, and I found best review site for it and showing you its cons , pros:

http://www.topforexproducts.com

Answer 3

I don't think it is. I saw a good video made by someone who doesn't know anything about forex trading on http://www.ForexSoftwareReview.org using forex tracer, it really made me want to buy it.

Answer 4

I have heard good and bad about the program, The biggest thing is it can kind of give you a direction, but and I mean but the problem is the markets are so fickle that without watching the charts, without studying economics of other countries, then you would be better off joining a club a good one is http:www.greenbriarwealthpool.net Good luck in all your investments!

Bob

Answer 5

You've got to be VERY careful when purchasing a forex system. From my experience, most of them are big fat scams so you've got to know what you're buying is actually any good.

I use Forex Autopilot and I have to say that it's the best system I've bought. I haven't used Forex Tracer but I would personally stay clear of that one...

I used this review to help my decision about Forex Autopilot: http://www.fxsystemscompared.com/rev_for...

Hope this helps?

Answer 6

No,

But the PipBoxer is far Superior:

See here,

http://pipboxer-review.blogspot.com/

or alternative and cheaper but effective packages here,

http://forextracertrading.com/

Answer 7

Some people love Forex Tracer, others hate it. You can check for review on it on any Forex reviews website like http://www.forextopten.com/ or http://www.forexpeacearmy.com/ .

Answer 8

I was in the same shoes not too long ago.  It becomes hard to find relevant information on the product because of too many hype pages as well as pages made to bash it from other product promoters. From my experience I found the Forex Tracer to be well worth the cost. They give you a 60 day money back guarantee that enabled me to use their demo account for a good month before investing any real money. I had made a decent amount of profit over that first month so I threw in some real money to trade with and have had the same results since. Going on 3 weeks of trading and have made a profit of $687.  Not bad for the initial investment I put in.  The program does take a little tweaking but the support team was very helpful in answering my concerns.  

Answer 9

Forex Tracer Pros and Cons

Pros:

1. Easy to install - Forex tracer is easy to install on your computer so you don't need to be overly technical to run it on your computer.

2. Has a proven track record - The results which the creators of ForexTracer have achieved with their system are truly remarkable. This software also has positive reviews from regular users.

3.It works automatically - This serves a few purposes: it helps you make better trading decisions without letting your emotions get in the way, it saves you a lot of time that you'd normally spend monitoring the market, and it can help you make more money since the software trades automatically for you.

4. Has a money back guarantee - Forex tracer comes with a 60 days money back guarantee which allows you to test this software on a demo account while you see if it works for you.

Cons:

1. Forex Tracer doesn't teach you anything about the Forex market. This is indeed a disadvantage because even if you use an automatic software, you'd do well to continue learning all you can about the Forex market.

2. It only works on the Meta 4 trader platform. Even though this is one of the more popular trading platforms in the world, this is still a disadvantage.

3. Has a learning curve - Despite it's being relatively simple, any software requires a learning curve to operate successfully.