Another Forex Scam: Grand Theft EA III
Are you ready to waste $87 of your money on an EA that’s free? If not, keep reading.
ForexPeaceArmy.com has seen solid evidence that another commercial EA is just an illegal copies of a free EA
FPA reviewer Robert Morton left a review on June 5th 2009 saying that he knew that the expert advisor from PipsLeader was just a copy of the free EA called Divergence Trader. Before any of our scam investigators had a chance to look into this, an email arrived from our friends at 4xProject with the same information.
4xProject contacted Ron Thomas, the author of Divergence Trader. He was unaware that the EA he freely published had been repackaged and was being sold. Even though Ron freely gave away copies of Divergence Trader, that does not give others the right to rename it and sell it as if they were the original author. We are very happy to report that Ron has contacted ClickBank and filed a complaint against Pips Leader.
Some user configurable settings were changed. It is perfectly legal to sell settings for someone else’s product, but that still does not permit the sale of copies of the software itself.
Under these circumstances, we feel have no choice but to declare that PipsLeader to be a scam. We recommend against buying their products and urge purchasers to seek a refund via clickbank.
We wish to thank Robert Morton, Ron Thompson, the FPA’s AsstModerator and 4xProject for their contributions to this case. More details
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Keith - Forex Robots on Wed, 24th Jun 2009 4:43 am
Aren’t most forex robots repackaged Expert Advisers that some trader created for the community at one time. I keep hearing this same story about how these free EAs are being marketed as the next miracle robot. It just makes me shake my head. At least there are some good resources left that give honest reviews of these automated systems and expose the frauds.