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  1. #1
    Standard Member Array
    Join Date
    Mar 2010
    Thanked 12 Times in 7 Posts

    forexautomoney scam

    As a frustrated trader I was planning to test forexautomoney after I saw their advertisements all over the internet for their signal service but even so frustrated I was still a skeptical person and I did not want to put my money where I can not trust especially considering 99.99 USD membership price of theirs and I am glad that I didn't fall in their trap. You can read more info about these scammers on other forums but here is the result of my chat with their online support representative please note that how he dodges from giving the companies' real address. I felt that I have a responsibility to inform my Asian fellows here in this forum cause I am an Asian too and I know how hard it is to earn money in most Asian countries so please circle it to other forums and maybe others will not put their hard earned money into the hands of these brutal scammers. here is the chat:
    Chat InformationPlease wait for a site operator to respond. In the meantime, please click here to get your membership.

    Chat InformationYou are now chatting with 'Bob'

    Bob: Hello! Welcome to Forex Automoney. Are you an existing member or thinking about signing up for a membership?

    you: hi

    Bob: Hi there

    you: I am thinking about joining your service but i ahve recently read a lot of bad things about your company in one of the best forex forums

    you: is there any place to read the testimonials of your customers?

    you: do u have any forums?

    Bob: Some customers join us, read our signals and invest all their money into a single trade. Of course some trades are losing ones and then they lose everything. Inside the Members Area we have a manual section and we describe there how to use our signals -- that you should diversify and enter a large number of trades, each one with a small amount of money. However some customers do not read the Manual. They are so impatient and greedy that they "must" win immediately. It's a simplest way to lose all the money, that's why we have "strategies" we describe. But if the customer don't read and don't follow our knowledge they lose their money and then they claim it was a problem of our signals.

    Bob: Sorry we do not have

    you: so where can i obtain some info about your company from the 3rd sources?

    Bob: We have no exact performance reports. That's because our system can be used 24 hours per day in all time zones with 18 currency pairs - it's not possible to show all possible results. Only 1 day of trading has over 50,000 possible transactions (number of time zones x 24 hours x 3 strategies x 18 currency pairs) and the real performance can be shown on at least one year period. It's just impossible to show such reports for all possible variants.

    you: Is it true that the cancellation of trial memberships must be requested 24h before the 3rd day?

    Bob: yes

    Bob: You are requested to please submit a support ticket by loging into the members area at least 24 hours before end of your current membership period.

    you: So it is actually a 2 day trial membership ha?

    you: May I have the address of your company?

    Bob: We are in UK

    you: and the address?

    Bob: Click here for Four days special membership For $4.95 you will get a 4-days trial membership. After 4 calendar days, the membership cost is $99.90/month.

    Bob: For security purposes we cannot provide it.

    you: What? what security purposes? Are you a terrorist group or part of MI6? lol

    you: It is not acceptable

    Bob: Sorry, how can I help you?

    you: I want to make an investment with you and it requiers trust

    you: I just need a physical address

    Bob: Sorry, you need to invest to a broker not to us

    Bob: You require only to become the members of ours

    you: So obviously you do not consider your members as your customers just your buddies who will give you money without any guarantee

    you: sorry it wont work this way

    Bob: how can I help you?

    you: All the conversations here will be posted on and let us see what your potential customers will say about you

    Bob: Is there anything else I may help you with today?

    you: do not forget to read it

    you: bye

    Bob: Thank you for chatting. Please contact us anytime. Good-bye.

  2. The Following 3 Users Say Thank You to flover For This Useful Post:

  3. #2
    Standard Member Array
    Join Date
    May 2010
    Thanked 29 Times in 5 Posts
    always received spam email from this guys

  4. #3
    Gold Member Array FreddyFX's Avatar
    Join Date
    Feb 2010
    Puerto Vallarta - Mexico
    Thanked 34 Times in 28 Posts
    Thanks for posting this conversation.

  5. #4
    Standard Member Array Gott's Avatar
    Join Date
    Dec 2010
    Thanked 0 Times in 0 Posts
    +1 thanks for the info

  6. #5
    Platinum Member Array
    Join Date
    Nov 2010
    Thanked 627 Times in 189 Posts
    I was scammed from these guys years ago..please stay away from these...95% of their signals are lsoing trades with hughe drawdowns...they never refunded my money....

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