Forex Mutant is a signals software and an advanced manual trading system. The trading strategy behind Forex Mutant is said to be 90.3% and the authors have set a goal to not only provide the users with results but to also teach them trading.
The system is built with a notion that any beginner can trade better than a trading robot if they have a step-by-step system to follow. And this system provides that step-by-step guidance.
The process of trading with Forex Mutant can be described as follows. You get a signal form the software to open a trade with particular parameters, and following the manual trading strategy you look for other signals to close the trade (either for profit or to cut the loss).
I like the first impressions of Forex Mutant for it’s not just another EA, but it actually aspires to teach the beginners to trade Forex. And given the small price as compared to other trading courses, it is very attractive.
Now to the bad things. I’m very disappointed that after reading the offer, I don’t see any numbers of the Mutant’s signals software. Numbers tell the whole story and not having them leaves us blind folded. Nobody likes to buy while being blind folded so it just leaves me wondering why would the seller not provide me with the most important information needed to make a decision.
If Forex Mutant was an Expert Advisor, I would say stay away from it. The only thing that saves it is that it’s a manual system and that it aims to teach trading Forex. That combined with a relatively small price for a trading course, makes me want to give it a chance.
Some more facts:
- Cost: $97
- Guarantee: 60 days 100% Money Back
- Currencies supported: EUR/USD
- Updates: Life-time free
i have purchased the program and so far it seems promising. the signals are seemingly irrefutable. Will see how it goes in the coming weeks…
I have just bought this and I’m incredibly unimpressed. The product boasts a 90% accuracy rate, which is all fine and good. The words “incredibly low risk” are plastered all throughout the pitch. Not mentioned on the sales page is that the default stop loss is 5 times the take profit, so that one loss out of ten kills 5 of the gains, and that’s if you DON’T want to compound your earnings. You can change these values in the inputs tab, but no documentation is given for the product other than “how to install” and “how to change the stop loss and take profit values,” which is interesting, because the picture showing that the values can be changed is a picture of an entirely different EA, and it turns out those values CANNOT BE CHANGED. I find it funny that they could not take the time to update their 2 page ebook with this new information, as it’s the only information included with the package. The site claims that the product works perfectly “right out of the box,” which is a fallacy given these default values. Most any beginner I imagine will lose with this.
Immediately after purchase they try to sell you an “Advanced Forex Mutant” feature which will supposedly skyrocket our income even further, although they make no mention as to what this feature is, what it does, or how it is used, and show us the same images and results that they used to sell us the original Forex Mutant. That’s sketchy. Included are four generic forex guru ebooks that are absolutely irrelevant to the product, along with the four page, quadruple-spaced “manual” that I believe was written for an entirely different product. Immediately upon install I was given three signals. For the sake of testing I took them. Five hours later they are all still hovering in the negative. I have tried out a variety of indicators trying to figure out why those signals were generated, and I can find no rhyme or reason for them. Having no information as to how the signals are being generated, we have very little to gain from this product and a lot to lose. Avoid. I think you’d be better off flipping a coin. If this robot could talk, it would constantly be screaming “It’s going up! Buy! No wait! It’s going down now! Sell! Sell! No! Buy!” Will it work as it claims to? No. It doesn’t even attempt to do what it claims to. I’m actually not sure WHAT it does at all. The sales pitch is nothing but emotionally loaded words. Does it generate signals that are 90% correct? I highly doubt it. I received opposing signals within minutes of each other, so there goes that 90% figure. Is it worth the money? My only answer is that I will not be caught dead shooting into the dark with a program like this, having no idea whether or not this software is really analyzing the market or just throwing me random buy/sell signals. Couple my findings with a highly misleading sales pitch that could likely cost the salesman a perjury suit (yeah, look again. He has the guts to say “here is irrefutable proof!” before showing us a picture of what is clearly visual backtest for an EA that trades automatically, which this does not, and therefore that picture has nothing to do with this product,) learn from my mistake and don’t buy this.
Update: Above it says both that the sl/tp values can be changed and also that they cannot. Final verdict: They cannot be changed. The documentation is incorrect.
hey jesse,
I’m in the same boat better off flipping a coin. Question
is forex mutant afflilated with 4x pip snager? I was just about to order it til i read your post
jesse disregard my post. I thought you were talking about 4x pip snager.
Jesse, I like your review. I thought it was well written.
The low-risk claim aside, if a product offers/boasts a 90% accuracy rate, that means it wins 9 times out of 10. If the default stop loss is 5 times the take profit and one loss kills 5 gains, you’ll still come out ahead if the earlier mentioned 90% accuracy rate still holds true.
Assuming the take profit is 20 pips and the stop loss is 100 pips, you’ll still be ahead by 80 pips. Is that worthwhile a return for every 10 trades? I don’t know but I would think some people would settle for that.
I have bought this program with the advanced forex mutant, so far its losing money.
The standard version gives different signals to the advanced version, so it leaves you to wonder what signals to go for.
Will try for little while longer.
I just wonder where the 90% win comes from.
I purchased the basic version. The only input that can be changed is whether the alarm is on or off. Out of 10 alerts, all 10 were losers.
Typically you even get a buy alert with a TP that is below the entry or a sell alert that has a TP above the entry. To add insult to injury it gives me a stop loss of one pip above or below the entry price.
Why these people introduce such scams particularly when you can get a refund from refunds@clickbank.com I’ll never know. Maybe they need some money for xmas and if you throw enough ….. against the wall, as the saying goes, some sticks some falls. A complete and utter SCAM.
As much as I understand your frustration, I’ll ask you to please don’t throw around words like “scam”. Just because a product doesn’t work as you expected doesn’t mean it’s a scam. A scam is when someone takes your money and you don’t get anything in return, nor you see your money again.
In this case you get the product, and if you don’t like it feel free to get a refund which you get from clickbank no questions asked. That’s not how scams work.
I just purchased mutant but wow… what kind of manual is this it comes with?! It has a set stop loss and tp while it says it works for any currency pair and any tf. How can that be possible with the same stop loss and tp? I have already written them, indicating my concerns on this. They at the absolute least need a chart showing what the tp and sl needs to be for every tf, but not only that, it must also specify the tp and sl for each particular pair for each time frame. Also what is not included is which currency pairs does the system work best on and what tf is best to run it on? None of this information is included. I have not had a chance to run it live yet as I just bought it today while markets are closed. I am not going to bother running it at all if I do not get responses to my questions as it is a complete shot in the dark without specifics on how it should be run. If I do not get a response with specific sl and tp levels for each pair on each tf, and which currency pairs and tf it works best on, I will be getting my refund. I suggest everyone that has bought it to follow suit as this is not a system without complete rules on tp and sl.
Thanks.
Sorry, admin, I have to disagree with you to a point. A scam is when someone misleads you with false information so you can buy the product. When they tell you about the 90% accuracy, and the product comes nowhere near that, then I have to look at that product as a scam. I understand, that with the moneyback guarantee, technically, it doesn’t register it as such. But if the individual loses money on live trades, that gives him just reason to call this product a scam. If a company sells you a product, they should be upfront and honest about it with full disclosure.
On the other hand, if that word puts this site in hot water, then we shall obey your wishes and simply say, this product doesn’t work as they mentioned, and that it is not worth looking at.
ALWAYS PRACTICE ON A DEMO ACCOUNT FIRST, PEOPLE!!!!!!!!!!
When someone misleads you, it’s called a misleading advertising. There are far worse products that really qualify as scams. If we start calling everything we don’t like a scam, everything will be a scam for there’s always someone who doesn’t like something.
You’re definitely right about the demo account. But if people lose money on live account without careful testing the system first, it’s their own fault.
Yes, that is true. It is misleading advertising. I guess the best thing to do if a company sends misleading information, coupled with less than average results, is to stay away and inform others. Thanks to you, Admin, we can
In my experience the past week with FXmutant (i have the advanced version so I see charts and signals, trend lines, etc…) I have increased my account by 30%. If you use the software for 1 day YOU WILL LOSE! Because you simply cannot understand how it works without WATCHING IT FIRST! I can agree that the simple version of it with only the FMS signal does not work well. I will not be using it on my trades because it is always going off and the stop loss is 9 times the take profit, they should at least be equal. Trades should not ALWAYS be made as this signal suggests. If you do decide to try this system I suggest the advanced version as it really does give excellent signals and also if you do to watch how the signals change. Don’t take a trade right as the signal appears you need to watch the charts- it isn’t a robot after all so don’t treat it as such.
I purchased and was then encouraged to buy the advanced package. I baulked at the once only chance to purchase their final offer. I then got the free copy of win zip as advised as this is needed for instalation. The Mutant instruction page then disapeared. I have emailed which has been acknowledged but no information forthcoming as yet. I am not impressed.
I have tested a lot of EA’s and systems. When I get my refund, which is 95% of the time, I will always comment to Clickbank that their advertising was misleading, or their manual was wrong, or whatever. I have yet to be cut off from buying Clickbank products.
the software generates signals when i launch my MT4 platform. THen it sleeps for the rest of the day. I have to close the platform and re-launch, and the signals appears. It seems like you only get a signal when u launch MT4
I bought the Forex Mutant advanced version and I am really disappointed: I spent 150$ +taxes and I discovered that it is made of bad indicators that I already had, and of course it is not a profitable trading system, you could never make money with it.
I requested a refund to the FxMutant support but they never answered to my 2 email (sent 2 weeks ago).
Can anyone tell me if I can ask a refund directly to clickbank or if I have to consider my money as lost?
Please answer, I want to have have my money back, but I am losing hope…
To me it’s really SCAM, they didn’t give me the refund they promised on the website.
Ask for the refund from Clickbank directly, they usually give it in 48 hours no questions asked.
Thank you very much for your help, I have already asked for the refund, I will wait 2 days now.
Here Are Forex Mutant Response.
Thank you for contacting us.
Sorry to hear things did not work out well with our system. I’m trying to build as much refund feedback as possible and in your email you did not mention into details what the challenge was.
I am hoping you have a few moments to tell us what went wrong. One of the reasons I ask is you still have plenty of time left in your money-back guarantee and we do know for a fact that our system is one of the most profitable on the market.
Did you really have enough time to assess its potential and do you have enough experience to get it to work properly? Whatever the issue, I will assign your case to the best support rep for that given issue, and have them help you out with any sort of problems, you might be experiencing until all your issues are gone and you start seeing the true potentials of the system.
I hope I can convince you to give this another shot. This is a very lucrative opportunity and we would really love to see you succeed.
I know your time is valuable. So if your time is a factor, I will try to compensate you for it in form of a credit. All I need is for you to give our product another go, henceforth your 60 days guarantee, and let our team of experts help you if need be.
If you give it another go, I will give you an extra $468.00 credit you may use towards a fully automated Forex robot that we have just been developing recently, the Humanoid EA:
The “Humanoid EA” Package (Total Value $468.00 )
Which includes:
=> The Humanoid Forex Robot (Value $247.00)
=> The Forex Triangle Advanced Trading System (Value $97.00 )
=> Free Life time Upgrades (Value $47.00)
=> Life Time support from our team of Forex experts (Value $77.00)
The Humanoid EA has produced 29 trades during the last year, with an incredible 100% winning rate so far turning an account of $10,000 into $103,085.34.
It is a 100% automated Forex artificial intelligence that does not require any major tweaking of its settings and can therefore be used “out of the box” and make some healthy profits with human interaction what-so-ever.
We are getting outstanding feedback for this robot so far and, as it was designed with safety in mind, I basically highly recommend it to any trader no matter their level of experience or starting bank.
What do you think? Will you give our system another go with our assistance, so I can escalate your credit and send you over the Humanoid EA package and try it out for Free?
Warmest Regards,
Customer Service team
Trying To load my original e mail To forex mutant.
Request for back payment.
do not succeed
Will try again
Hi Folks,
Yeah, I got the Advanced version of Forex Mutant and I will be hitting the refund button very soon.
I can adjust SL and TP when I place the trade and the spread is a TP that is one third of the SL so every losing trade needs 3 winning trades just to stand still.
I have found that the signals are only generated when you adjust the various options on the ‘signal’ inside MT4. Also opening and closing MT4 or changing the timeframe (e.g. M30 to H1) or any other timeframes will also generate a signal. Look VERY closely at these signals as they are often utterly ridiculous. I’ve just had a signal to sell GBPUSD at 1.6415 but the price the pair was trading at was 1.6190.
I recalled this information from the ‘ALERTS’ tab betweeen ‘MAILBOX’ and ‘JOURNAL’ at the botom of MT4 and I’ve just found a whole bunch of errors about MT4 stopping the EA and so on. I’m losing hand over fist with this one and have gone back to purely manual trading (my guess, my loss/win).
If anyone from Forex Mutant is reading this, I’ll be happy to detail the other errors and see if other folks are getting them too. There are obviously a lot of problems with this one, but I’m keen to see it work as is NOT a robot.
I suspect some brokers can tell it’s a robot and muck about accordingly. I’ve heard of folks having reasonable gains and then suddenly getting wiped out in a single trade when trading robots.
You people that bought Mutant are not looking at the right signals in the software. You need to load a module named PRICE PATTERN ROBOT i’ve used it since around 1-4-10 and it has made 6 trades 4 winners 1 loss and one trade that it’s in now and hasn’t been closed yet. The stops and profits are close to 1 to 1 anywhere from 50 to 150 profit targets and stop losses. Most of you i think are using the FMS signals and i agree they are screwed up big time. So far the Price pattern robot is 80% accurate. The price pattern robot module is buried in all the zip files. It was the last thing i found in all the other junk they send you. Check it out for your self don’t take my wowrd for it.
By the way i did not purchase anything extra that they tried to sell just the basic 1st purchase they offer is all i bought. I didn’t purchase the reved up extra stuff until i 1st had checked out what they were offering in the beggining so i have no idea if the additional stuff is any good or not. I’m gonna watch it for the 60 days they give you and see if the strong winning streak continues. Hope this helps some of you that have bought it ok. Thanks
Got my refund back from this junk.
Hi all,
I dont comments much about this system because I got Forex mutant advanced version for free from someone who about to ask for refund. I installed it in my 4hr TF and Its work very well like they claims for.The signal even pop out before the candle starting to form. I made profit all the way. The only problems is since Forex Mutant is a trend following system, you will missed some good opportunity in counter trend. But that was they were telling you in their manual.
For me, Forex Mutant advanced version is really works. All is depends entirely on your trading experiences.
I got 90% wins on 10 trades 9 wins 1 loss ..in 2 months around 750 pips total on the basic version. ORININ can you give some finer details on what kind of results you are getting with the advanced version ? What kind of stops and profits are there on the trades so far, and what kind of win/loss ratio you are getting so far ? Thanks
Wow you are really a bull smart guy. If I was not mistaken, your previous comment was asking for refund, later you give a very impressive comments. Anyway that was your business.
Yeah my winning ratios is 100% using the advanced version. But mind you the signal sometimes inaccurate, so you have to add another indicator that give you superb result. When Forex Mutant and my indicator give the same signal, it will produce Holy grail result.
Believe me, no loss at all.
Thanks to my friend who gave me this indicator for FREE.
orinin what was the other indicator you used with the mutant signal
Forex Mutant Systen advanced version Mt4 no start.
(2010.09.24 14:28:44 Signals EURUSDig,M15: ArrayInitialize function internal error.)
support does not respond to an e-mail. (1 month)
I would not recommend.
If you people thought that maybe if you’d use this system on a daily time frame, you’d actually profit from it.
The signals are CRYSTAL clear on the daily time frame. Signal appears, open on next bar, and I’ll happily say that it hasn’t exceeded around 10% draw down.
I bet half of you thought, that forex, being such a cash cow, is going to get you 50k in a couple of days. Would you believe that all you would need to do, a day, is have 1 successful trade of 350 dollars, and over 313 days (1 year, no weekends) you would have 100,000. You need patience, and this system on the Daily is UNF*CKINGBELIEVABLE!
I came upon this (old” review and since I bought the product at the time reading this brought up some memories and a lot of frustration! In short it did not work as advertised.
I’ve tried a lot of various Forex products and many on Clickbank. The great thing about Clickbank products are the easy refund policy but honestly I’ve given up on these products as they are usually nothing more than rehashed older programs (at best).
As of late I’ve been using signal services and tried a few. Some of the best I’ve tried are ForexTargets which are a great long term signal service and for short term signals I think 4xlounge are giving me great results.