Manhattan FX Review: Is Manhattanfx.com SCAM?
Have you heard or used the Manhattan FX robot to trade Forex before? I’d like to hear from you.
But regardless of what your answer is, I suspect foul play in this product going by the number of complaints that were recently mounted against it
I immediately began investigating and pealing back the mask to expose layers of deception that was used to build their marketing campaigns.
And now I have nauseating evidence that Manhattan FX robot is a poor-performer. Definitely not worth your investment.
First things first, the Manhattan FX robot uses a very familiar sales page. But this design is making it look very appealing when the truth of the matter is that it is incapable of making consistent profits in the Forex market.
Read on to learn what I have to say about the robot in this Manhattan FX robot review.
For the best Forex trading systems that I am personally a fan of, click here.
Manhattan FX robot overview and proof that it was poorly designed
The homepage of the site claims that Manhattan FX robot is the best EA for Mt4 trading.
This is according to them. I am not aware of any third party approval, so this is purely based on their opinion.
Can testimonials be trusted? I know that this website is making use of fabricated testimonials to convince prospective customers.
The purported customer named ”Paul” is not really Paul because it seems his real name is John Elton.
More evidence can be found here. You can see that he isn’t merely a stock photo, but a real person working for GreyCroft Partners LLC.
Rest assured that the Manhattan FX EA website is using his picture illegally and without his permission. This could land them a heavy fine from a lawsuit that the owner of this picture is likely to file.
It seems the person who designed the Manhattan FX robot website was not aware that these details could expose their scam so badly.
A simple Google search can also reveal that all other photos which represent their alleged customers were simply copy-pasted from other sites.
What do you make of this behavior? Well, it’s certainly a practice that is used by dishonest robot authors who disregard the fact that you work hard to make money, and thus you always deserve the best EA for the money you’re paying.
Inconsistent profit information
We’ve got more evidence that Manhattan FX robot is not consistent in producing profits.
Their Myfxbook results have been rigged and manipulated to give a picture that does not represent the actual account activity.
According to the screenshot below, the line graph is showing us an uptrend. But when you click on the profitability link, you will see that the software has lost 51% of its trades.
I checked this for a second time and discovered that the profitability counter was not changing any one bit. This could mean that these numbers were either fudged or the analytics tool was not properly integrated to send the right message. Even then, someone would have noticed the mistake long ago to correct it.
This leaves me with one assumption: that the Manhattan FX robot team just fudged results to give a false picture of the true performance record of this expert advisor.
Other disturbing details which clearly point to the fact that you will get a raw deal
The sales page claims that the Manhattan FX robot is the leading algorithm for trading pairs like EURUSD and GBPUSD.
I don’t know where this marketing declaration is coming from. In fact, it’s absolutely impossible to verify the truth of this statement.
Trading on automation is not a new thing. The website says that Manhattan FX robot trades on auto-pilot.
The background of this author is not mentioned as well. The website only says that the Manhattan FX robot was created by a team of industry professionals consisting of 12 people. That’s the furthest they could go in trying to reveal the people behind this robot.
I must admit that I don’t like vague statements where names of authors are not mention for purposes of verification.
Vague statements like ”This EA was created by industry veterans with 10 years of experience” is purely BS.
If there are no real names and faces behind this robot, then I can confidently say that these details are fictitious. There’s absolutely no truth in this.
In fact, if the Manhattan FX robot website can use fabricated testimonials with stolen photos on the internet, it wouldn’t be an uphill task for them to fool you on matters related to the identity of the author.
Please note that the experience of the author is more important that the robot which they are selling. If you have no idea what they’ve done in the past as well as what they are capable of doing in the future, it leaves you in a bad state. Avoid.
Massive or extreme profits?
As usual, scams will use ”high-profits and verified accounts” to tempt you to sign up, possibly via multiple brokers which have been strategically integrated on their website.
Another dominant claim is that ”Since 2010, the Manhattan FX robot has been generating massive profits.” The software was apparently back-tested on the EURUSD and GBPUSD pairs using medium risk settings.
In a separate section, they claim that Manhattan FX system has generated up to 1.2 Million Dollars in total profit. No one can believe this if evidence is not provided.
If you have been reading this blog, you can attest to the fact that I usually discredit vendors who can’t give me proof of trading performance.
The fees for using this expert advisor
Most premium expert advisors will charge an upfront fee. This one is not a premium EA. They just put a price tag on it so as to help the entire project look authentic.
In addition to this, the author of expert advisor receives kickbacks from Forex brokers whom they promote on the website. You are essentially paying twice for a product that can never yield any profits in the Forex market.
Also, if you look at the features (which have been tiered according to the package you buy), you will see the usual fancy jargon that is synonymous with scams. Words like: adaptive logic, balance defense among others have been used to make it sound authentic.
In reality, we are looking at a non-performing robot that is hyped and promoted with fabricated testimonials.
We’ve got a website that is plagued with a lot of grammar and syntax errors too. The Manhattan FX robot is simply a narrative that has more holes in it than a Swiss cheese. We did not find value in this website. Nothing substantial to chew.
Wrapping it up
The fact of the matter is that these bloodhounds are out there to steal your money by misrepresenting their product with the intention of convincing traders to buy it.
As an informed Forex trader, you shouldn’t be afraid to speak your mind. Tell them to stop spamming you with their useless emails and phone calls (if they happen to be that aggressive).
In light of all the evidence that I have presented here against the Manhattan FX robot, I want to warn investors to stay away.
If you want to trade Forex and have fun with it, look into these products instead. They are well-researched and tested by me. You can count on me.