NOTE: Website is down. The company appears to be out of business.
The competition ends January 29th. The winning bots are supposed to go on sale February 16th, 2010. All ratings will be removed from reviews left before February 23rd, 2010.
The FPA was allowed to login to 10 of the top EA accounts from FRWC EAs using the investor password. The FPA can confirm that the LMD-Multicurrency, HiRIDER, SuperVolcano, VREM2, Nutcracker, Simple, Neg-Correlation-USDCHF, Zoop-EURJPY, AkuKaya, and USFX accounts appear to be live accounts and were not running on a demo server at the brokerage.
Please address ALL questions regarding settings on the Fusion test account or requests for additional tests to FRWC support. The FPA does not have a copy and is monitoring it through a copy of MT4 logged in with investor access.
We haven't tried the forex EAs from Forex-Robot-World-Cup.com. If you've let these autotrade forex for you, please leave a review here.
UPDATE: The FPA has begun a performance test on one of the EAs from FRWC on a demo account. Please click the link towards the upper-left to follow the results.
Note that the FPA is monitoring an account where FRWC is running the EA. We do not have access to the software or settings. Please address all requests for settings, tests on different brokers, backtests, and more to FRWC support.
RapidoFX, USA
Rating:
No Rating
Date of Post:
2010-09-06
Review:
I purchased the robots a few months ago but haven't tried them out as yet. I am having trouble accessing the FRWC site. I'm getting the following message (site blocked by Norton antivirus that claims that there are 7 trojan threats). Does anybody else have the same problem at this time?
403 Forbidden
Access to this resource on the server is denied!
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J E Jones, Maryland, USA
Rating:
Date of Post:
2010-08-26
Review:
After testing and deciding results were not sufficient to keep, I submitted all data required for refund doing this multiple times in between hospitalizations, they refuse to honor their refund commitment. My last communication I entered the support area on the web site, after several days went back to see if they would respond there and I am now locked out. no refund, no communication, no nothing, can not even log in now at the web site
Jeremy, USA
Rating:
Date of Post:
2010-06-28
Review:
DO NOT BUY! I THINK IT IS SCAM!
This EA makers received honorable marketing degree.
The EA did not performance as it was claimed. It blew up my accounts and still did not get my money back.
The developers said 60 days satisfy guaranty, but filing the return was a simple step. They asked for 30 consecutive trading days, except weekend.
Buttonjock, Newcastle, Australia
Rating:
Date of Post:
2010-05-15
Review:
Let me say firstly that each of these EA's needs to be thoroughly tested before drawing any conclusions. A friend and I operate the robots and continually discuss our findings.Whilst it has been a rocky road we operate some of these with slowly increasing success.
Firstly the company. I have had a lot of communication with them and never had a problem with their replies. Some reviewers here have complained about this, but if you send a rude, demanding email dn't expect to make any friends. I work in customer service and I can tell you from both sides of this, if you say please, thankyou and treat the support with respect you will get far better results. Not all problems have been able to be resolved, but I'm happy that FRWC have helped me to the best of their abilities.
The EA's. If you're expection miracles then you will be disappointed, but there is definitely some gold here. Initially each robot was placed on a demo account, with varying results. Some just flat don't work, including LMD and Hi Rider, which was very disappointing. Interestingly, some results have improved the longer the EA has allowed to trade.
To cut a long story short, the standout 'bots being used live are Straasha with updated settings and Nutcracker with selling half the order at 5 pips and moving the stop to break even. I don't like Martingale's, however Straasha's seems benign and has only triggered occasionally, recovering nicely each time. We also changed the Martingale steps to 10 pips insted of 1.
Neg Correlation possibly has potential, Zoop continues to do well on demo but had problems live, and whilst Super Volcano has done immensely well on demo, the success is based on only five especially good wins and it often seems to not know when to close a trade making its reliability questionable, so was stopped on live.
Ok, US$1000 for 2 that are good and 2 that have possibilities sounds a bit steep, but is not unknown. Additionally, trading with EA's (any EA) is the same as trading manually in that money management must still be used. Lot sizes should not be set too high, FRWC recommends .01/ $1000 and this seems fair. You won't see the dramatic wins that always get claimed but you will see an account that grows consistently over time.
cosmas, Nigeria
Rating:
No Rating
Date of Post:
2010-04-20
Review:
This is a forward/update to my 13-4-2010 review in respect of FRWC reply to my requst for refund.
I eventually received an alert from my bank stating that my credit card had been credited with $999, which means I have been refunded. Thank god.
I had the intention of replying the FRWC 13-4-2010 email from Adam (their support team member) but later thought the better of it. Why waste my time on somebody that has so much to contend with. I am sure the pressure of refund requests is overwhelming him. However, I advise that Adam be removed from the team, before he gets Reality Based Company or Ltd into serious legal problems. Maybe he is unaware that the world is now so small that you do not need financial aid to advertise people's/company's false promises or scam. Pls somebody should bring him to reality.
FPA thanks so much for the forum/reviews. If not for the contributions/member's input I would have been holding on till the refund policy/duration expired. No matter what these forex software developers, marketers e.t.c. say about your reviews or tests, you have saved a lot of us from scams/frauds.
Hi, I purchased this EA and it almost wiped out my live account.
So I put it back on demo and had much the same results.
I suggest they rename it Forex Confusion.
Funny thing is they are still trying to advertise this as having a equity curve envied by all in the industry. I suggest the developers need to visit the optomitrist aswell.
Javier, Mexico
Rating:
Date of Post:
2010-04-16
Review:
First I want to congratulate PLIMUS, the online shopping software, because thanks to them I got my refund.
On the other hand, I want to complain about the company that promoted such Robot competition, because they are unethical because they used several tricks in order not to make the refund, and to prove it you just to read the reports in this site.
This Robot is underdeveloped and hype marketed.
Greeting to all.
William, Seattle WA
Rating:
Date of Post:
2010-04-15
Review:
I had inconsistent results with LMD so I switched to HiRider and then HiRider advanced. I have not had a losing trade since I installed HiRider advanced and I am using more aggressive settings than suggested.
Support was slow in the early days but is now responsive.
I did not and will not request a refund as I expect this robot to continue to perform. Possibly the best $1,000 I ever spent. We will see.
MT, USA
Rating:
Date of Post:
2010-04-14
Review:
Just wanted to say I received my refund today...or should say I recieved an email stating one was given. Haven't verified my card yet. I suppose these guys gave it their best shot as far as the EA goes. But afraid they ruined their chances for future purchases due to the way they handled the refund issue. It was just BAD business!
2010-03-19 1 Star Traders,
I don't know if Alex will post this,(hope he does), but I get the distinct impression we are getting the run around with this Fushion bot money back guarantee. The bottom line is, They aren't so HAPPY to give us our refund after talking to them once agin today. These guys look Ukrainian or Russian to me. Doubt very seriously that they are in Hong Kong. So what's the next move we can take if they do not give us a refund. First off I'll let my bank pursue, then decide. I went ahead and covered any other lame excuse they may come up with like...Oh we don't see thirty trading days on your statement. I told them (thinking ahead for them), I don't control the days your EA system places a trade. So it could be several days before a new trade is placed and with the weekends figured in we could be past the 60 days, based on their verbally "compromised" money back guarantee.
I'm not wanting to give these guys a hard time. Just have them honor them guarantee. We all can move on and maybe they'll be lucky later on and come with something that actually suitable. Perhaps they put their best foot forward in beginning, but we may see that change. Let's hope not!
2010-03-11 2 Stars I've have been very disappointed as well in this EA. I really should have listened to my gut and 16 years of experience. Though I suspect the people at FRWC are working hard to offer something to the public, it would be in their best interest to honor the money back guarantee.
I do need to dispell one fallacy many EA's creators make...and that is an EA constantly needs "tweaking" to stay current or to be able to produce a consistent profit. I believe you are pursuing the wrong path. I can tell you after designing over 100 EA's, if you are constantly tweaking your EA in an attempt to "stay" current, then you are chasing the market and you are not likely to produce consistent profits doing this. This is a sure fire path for frustration.
If your "tweaking" is part of the process for developing your system, then that falls into a different category. But once the logic is in place, your system should perform on a consistent basis whatever the outcome. Anyway this can take years to discover, so I'm not counting on any quick fixes here although I wish them a recovery from this mistaken assumption. Sometimes only years of experience can drive home the relevance of my point.
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Disclaimer and Risk Warning. Please read.
Risk Warning. Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Disclaimer All information posted on this website is of our opinion and the opinion of our visitors, and may not reflect the truth. Please use your own good judgment and seek advice from a qualified consultant, before believing and accepting any information posted on this website. We also reserve the right to remove, edit, move or close any post for any reason.
Advertisements Warning Advertisement links are displayed throughout the site. Some pages in the site may contain affiliate links for products. These advertisements and/or links do not reflect the opinion, endorsement, or concurrence of this website or affiliated parties. The FPA's reviews are never influenced by advertising. Some ads might contain potentially misleading and/or unbalanced claims and information that may fail to disclose risks and other important considerations involved in speculative trading.
Spammers be Warned If you spam the FPA's forums or reviews, we reserve the right to edit your post in any way we please to make fun of you. By spamming us, you agree to any edits we make and to take no legal or other actions against the FPA or its associates for anything we do to or with your spam.