Forex Expert Advisors : Forex Ultimatum, an Unbiased Review

A few days ago, a new expert advisor called forex ultimatum was released into the forex automated trading system market. At the request of two of my customers I have decided to review this system. Please remember that my review focuses on the evaluation of the expert advisor’s claims against the evidence provided by the author. Through this evidence I also always try to estimate the expert advisor’s potential for long term profitability and the likeness that the system will or will not work in the future. At the end of the review I will say whether I consider the system worth buying and testing.

At first glance, the forex ultimatum website looks just like every other automated trading system website out there. It is plagued with hype about the potential benefits the system can bring without any reference whatsoever to the risks assumed by traders when using this system. There is never reference to the potential draw down associated with the strategy, an ever present measure of risk that should always be looked into by traders.

The first claims made by the website are nothing short of misleading. The website tells people that they can “generate a steady flow of cash into their accounts” without working “more than 5 minutes a week”. Of course, as you would expect from most commercial EA sellers, the forex ultimatum website has absolutely no evidence to backup their claims. The creator of the EA also says that the expert is able to turn 5000 into 50,000 USD in less than a year, a claim which is totally unfounded and for which no evidence exists.

The closest thing to evidence shown on the website is just a bunch of “performance” charts which by the looks of it seems to be backtesting data which has been replotted by another program, probably to avoid the association with back testing which people are fairly aware of right now is no guarantee of profits unless consistency is proved through extensive live testing. This is further reinforced by the fact that they never make any claims about these pictures being from “live trading”. These people are very diceiving because by their phrasing it seems that this graphs are actually from “forward testing” something which could greatly confuse their visitors (which seems to be their target anyway).

As you may have suspected, this forex ultimatum system is totally NOT worth buying because the seller does NOT supply any sort of convincing evidence to support his claims. Extensive backtesting and live testing are needed to even have the intention to publish such bold and unrealistic claims. More over, the seller clearly states that all sales are final, reason why people who may have differences with their results cannot even get their money back in the short term. I do think that these people need to think a little bit more seriously about the business and generate at least a year of live testing with a ten year backtest in order for any of their claims to be believable.

If you would like to know more about automated trading systems that can generate capital in the long term as well as program and design your own long term profitable systems please consider buying my ebook on automated trading or subscribing to my weekly newsletter to receive updates and check the live and demo accounts I am running with several expert advisors. I hope you enjoyed the article !

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2 Responses to “Forex Expert Advisors : Forex Ultimatum, an Unbiased Review”

  1. Sandor says:

    "NOT worth buying because the buyer does NOT supply any sort of convincing evidence to support his claims."

    Of course, u wanted to say "the seller does NOT supply"

  2. Daniel says:

    Thank you Sandor !

    I guess I needed some sleep when I was finishing this review. I am glad you pointed out the mistake :)

    Best Regards,

    Daniel

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