Discuss BrokerArbitrage.com

[googleandyahoo]

can you help us and show us the result of using this EA that you bought ,
Please put your account details with investor password here, so other people can judge it

I meant I almost bought it, but I didn't. So I'm looking forward to seeing live results from other traders who use better-know brokers.

 

[googleandyahoo]

I did a little research on this kind of arb EAs. It's been around for a few years. I think it all started from Russia. A friend of mine mentioned it to me couple years ago but I didn't understand what he's was talking about. They used to call it high-frequency trading. Anyway, most brokers would consider it cheating their system and forfeit your profits. I think that's why we can see people selling these kind of EAs now because these EAs have been blacklisted by most brokers and it's harder and harder to find a broker for the EA to work on. It's just like when the Casinos know you can count cards, they'll ban you from entering their casinos again. The next best thing to do would be to teach others.

 

[MMInc]

Just my input here but the ARB EA posted on FPA are using an MT4 license that is not connected to a real liquidity feed. If you do your research you will find that there have been brokers that can use the MT4 software without connecting it to a real liquidity source. This means that your funds are never really traded. There is no commissions/taxes and the spreads are almost non-existent as the settings in the MT4 admin will allow this type of operation on fake price feeds. When you connect the MT4 to a liquidity feed, the default settings for the liquidity are the minimums the liquidity will allow. This meaning that the spreads, commissions and taxes are all required to be set otherwise it will not transmit trades as the liquidity servers will reject the orders. There is no liquidity that would operate this type of feed as neither the liquidity or the broker would make money and if you open up a demo at the broker recommended by the ARB EA you will see the same conditioning of a previous scammer named Churls "Charlie" McMillan (you can google him). He attempted selling this same scam a few years ago using the same thing with a different scam broker named FECH. Churls McMillan was associated with an EA called Verified Trader I believe. You will see on the ARB EA that during high volatility its almost like the EA knows where the price will go before it actually does. This is true because the data that is being streamed from the second platform of a real brokers price will fluctuate in real time vs their feed at times will have a slight delay due to where they are getting their price data.

I can verify to FPA my knowledge of the MT4 platform and its inner workings.

 

[Diogenes]

I purchased the BrokerArbitrage software and set it up with a VPS on Commercial Network Services. The broker I chose is SynergyFX.com.au and I funded the account with 1000 Australian dollars.

I've had what I regard as good support from BrokerArbitrage - they always responded to my questions within 12 hours (and I had many questions), and they also checked and adjusted my setup for me. It took about a week to get everything set up (new broker approval, fund transfers, etc.) and my system went live on Friday. BrokerArbitrage state they use a 20% risk setting. They recommend a 5% risk setting or less and my setup is using 1% risk. There have not been any trades yet.

My issues with BrokerArbitrage are of low importance if the BrokerArbitrage software really works. However, I believe BrokerArbitrage do themselves a disservice with their style of marketing the product, the spam-type emails they send, and their use of language.

 

[Diogenes]

UPDATE

1. there have been no trades to date but this may be entirely due to the broker I am using and my risk setting (the lowest possible). I've sent an email to BrokerArbitrage who indicated that at 1% risk, my "risk level is very, very low". I've asked for a recommendation for a new setting. If appropriate, I will simply raise the risk setting each week by 1, until the EA trades at a personally comfortable rate.

2. I asked for clarification on what exactly the EA's risk factor moderates. It seems to me that in principle, an arbitrage trade should be risk free, otherwise it's not arbitrage. The answer I received is that the risk setting "adjusts for size of lots", which I confess I do not understand (any suggestions from anyone?).

3. the support I get from the company is consistent and reliable. I still receive full replies to my emails within 24 hours, and action - when needed - is quick and occurs even on the weekend, which is not necessarily to be expected. By way of example, at the end of last week, while exploring the software, I accidentally corrupted the settings for two of the currency pairs in the EA. I was unable (unwilling) to experiment with getting them reset, so I sent a "help" email to support at BrokerArbitrage. BA reconfigured my software yesterday (on Sunday), and ensured my setup was operational for today.

in summary....
rating on support - good
rating on success - no rating possible at this time.

4. has anyone had solid success with the EA?

 

[LeonWAP]

Guys, what do you use brokers for this robot?
Do you have a good internet connection and how far your VPS on the location of the trading server of your broker?
I tried this robot forex4you and I have good results.
Yes, there were problems with the low market activity but when news began the robot began to sell more - the more events in the market, the more the robot trades.
I used to trade VPS which I have provided for free for a dealing center where I have a real account and terminal forex4you MT4, account E-Global MT4 Marketplace account

 

[thevolatility]

I am just curious how did they do this at all

1820 2014.03.24 10:00 buy 0.00 usdchf 0.88188 0.00000 0.00000 2014.03.24 10:01 0.88188 0.00 0.00 0.00 0.00 0
1821 2014.03.24 10:00 sell 0.00 eurjpy 141.770 0.00000 0.00000 2014.03.24 10:01 141.770 0.00 0.00 0.00 0.00 0

 

[SandGrain]

After seeing the (possible) results of this EA, of course I was very interested in buying it ... and I almost did.
But since FPA is not my only source of information, I started investigating. And I ended up with a competing forum ... Donna Forex.

Especially page 2 is interesting. The pictures are not real, someone has 'educated' the EA and seems to be the same as others, the people behind it are know scammers, etc. etc.

I'm not sure what kind of evidence we can provide to prove that this EA needs to be removed. There are plenty of people who tried it and every time they claim that the system needs to be updated, that the settings are wrong even though they were provided by themselves, people not getting their refund (some do though, but certainly not all). I'm not going to buy it, just to provide some emails. Others have done so already elsewhere.
So I hope FPA is wiling to look at other forums as well, and then draw a conclusion.

 

[Diogenes]

UPDATE
hello all -
I've switched from Synergy, a well-known and reputable Australian broker to another well-known and reputable broker recommended by BrokerArbitrage. I'm running the software on a dedicated VPS that has ultra-low latency to the new broker. There are no other software packages of any kind running on the machine. The account has been set up and running for a few days. It was checked by the people at BA. So far, no trades. Obviously, as it is arbitrage and therefore must depend on the specific broker, the trading will be different from broker to broker and consequently, I am absolutely not surprised that my trades differ from the trades in the live test.

If after two weeks there are still no trades, I may go the final step and see if it is possible to get an account with the Deutsche-Trading broker that is used by the software provider. However, as it is a Russian broker, I don't even know if it's possible. Has anyone else on the FPA forum had an account with Deutsche-Trading, or does anyone have an account with them at this time? I, for one, would love to know your experience with them.

Finally, in terms of customer support, I maintain my previous view, based on my personal experience: BrokerArbitrage consistently provide excellent customer support (swift and effective).

 

[Pinco Pallino]

Broker Arbitrage and Deutsche Trading are SCAMMERS! Warning! Do not open accounts with Deutsche Trading!
Now I tell you my experience.
I opened an account with this broker, I made ​​a deposit of 1500 USD.
After some time I asked for a withdrawal, but they did not give me my money back!
Scammers!
It is more than two weeks that I have asked money back, and when I ask for information they say me continuosly that they will send money back, but at today no news about this.