Discuss BrokerArbitrage.com

[Patrichia]

That's true !!! This is a pure scammer. He copies an account from someone else. This is no EA, I tried this. It's not working.

ADMIN: HOW LONG WILL YOU KEEP THIS SCAMMER ON YOUR EA-LIST ???

To : Oksenboel
The owner of this Broker Arbitrage EA is the FPA it self, that is why they never removed for long time, This site loses trust.
You should be very careful when dealing with this site ( FPA ), you see yourself , many many people said all their bad experiences about this scammer EA, but the admin of this site, does not hear, does not listen, does not see. Just because he is he owner of this EA,
Wish you all good luck

 

[Patrichia]

Dear Forex Peace Army Admin!

I really wonder, why this b......t EA is still on your EA list? How many people shall give their hard earned money for this EA that never ever works ?

To Patrichia you said, you require some proof, before you can erase it. Her you are !


In June 2014 I bought the Broker Arbitrage EA (further only BA. It's not worth to mention the full name). Of course, I was impressed by the profit it seems to make.

500 USD is a lot of money, but it looked to be worth to proof it. A money back guarantee ! What else do I want?

I counterchecked on FPA for any negative comments and couldn't find one. Strange ! Maybe my server didn't work properly or I should have reloaded the page. I don't know why I did not find any negative things like I did a week after. But this comes later.

I bought BA and everything looked fine. I got acces to their members page and downloaded the EA to my brandnew notebook with Win 7.

I couldn't get it to work. It was initializing initializing initializing.... for 2 hours.

I send a mail to Mark Reid and about 2 hours later he told me to let it run overnight. I did so and guess what I saw next morning? initializing

I wrote to Mark again and he made a TeamViewer session. He did the same steps again as I did. The result: initializing initializing initializing initializing initializing ....

Meanwhile I installed it to my old PC with Windows XP.

No problems here. It was running fine. No initializing. Mark asked me if I could run it on my XP-machine. In the meantime he will find out why it doesn't run on Win7

But no, NULL, ZERO trades the next 3 days. But I expected 10 and more trades per day. 30 trades were already missing. Mark told me to wait.

I did not wait and installed FX CHOICE Metatrader and opened a demo account with FX Choice. You should know, Mark Reid recommends that broker. BA will run outstandingly on this broker.

The first trade started about 4 hours later at 2014.6.16 13:59. I stopped that fiasko at 2014.6.17 17:41 when the last running trade had closed.

In this short period it made 24 trades (aha !!!)

10,000 USD demo account:

16 trades lost

8 trades won

- 198,67 USD LOSS

in about 28 hours


Then I came back to FPA and checked BA again.Maybe someone had the same problems. Suddendly I saw there dozens of negative comments. Why not a week before. We will never know.

One really good investigated report was made by Patrichia. He or She claimed that the trades which are presented on FPA are exactly the same as on "mql5.com/en/signals/33860".

I followed that link and there I saw that Patrichia was absolutely correct. Well done!


Immediatly I claimed my money back. Mark denied and I had to send screenshots of his homepage to ClickBetter.com to get a refund approved.

Finally, I got a mail from ClickBetter.com. They told me that I will get a refund in 2-21 days.

I haven't seen the money yet.

I can proof every word here with mails and screenshots.

ADMIN, what else do you need to ban this scammer,


This scammer copies only the trades from mql5.com/en/signals/33860 to his FPA account and claims, these trades are done by his EA. Bull****. This EA does NOT work. It works on a demo account only. But here it works totally different. An here it makes only losses.

Again: on the recommended brokers demo account 16 losses, 8 winners -198,67 USD loss in a little more than one day.

This IS scam!

Delete it from the EA list.

To make sure that this report doesn't get lost like some other reports from me before, I will give a copy to your friends from MyFxBook.

Yours sincerely


Jay Oksenboel, Copenhagen, Denmark, Europe

Dear Oksenboel
He will never listen to you, he never listens to any one, for a simple fact.
The fact is :
The admin of FPA is the provider of Broker Arbitrage EA
You noticed from the very beginning I told him this is a scam, he asked for proof,
Many people told him so, he never reply to them, and keep the EA on the list.
One of my clients told me the real information, it came to him from another EA provider, it became clear the broker arbitrage EA is owned by FPA itself.
So be very carful my friend. Never trust anyone in this world.

 

[AsstModerator]

FPA is the owner of Broker Arbitrage EA, that is why he will not remove it from here.
HE WILL ONLY REMOVE OUR WORDS

You are incorrect on both counts...

1. The FPA does not own Broker Arbitrage.
2. Your words are here. One of your other posts ended up in moderation. I approved it a few hours ago. I'll give you a hint. Don't edit posts if you don't have to. Editing posts can send them to the moderation queue.

I did just remove several other posts. One was a duplicate. 3 involved attempts to get pirated copies. Does this meet with your approval?

Hello Patrichia!

Great Job you did!!! You are absolutely right. The trades on mql5.com/en/signals/33860 are exactly the same trades which can be seen here on FPA. Same time, same LOT, same TP - everything. How did you find this? A very good investigation, you did.

This scammer is just implementing this account to FPA and tells everyone that his EA does this. PURE LIE !

Another account for another product on MQL5 making the sames does look suspicious. How do you know which is the original and which one is copying?

If you can prove that Broker Arbitrage is not the original source and if the person with the MQL5 account states that there is no business relationship allowing this, the FPA will treat Broker Arbitrage exactly the same as it has treated other pirated EAs - with a Scam Finding.

Please provide the evidence.

MY friend
I am a woman lawyer.
I will tell you why this EA is still on FPA till now, despite the fact that many many people here say this is a scam .

The FPA has clearly defined methods for declaring companies to be scams. This includes presentation of evidence, not just saying that a company is a scam. Does a real lawyer ask for action based on hearsay?

I know my words will be deleted from here as soon as I put it here.

Please tell me why your words are here on display?

The reason, which came to one of my clients by e mail, from an EA provider, which justify the reason that this scammer EA still here.
is the following:
The owner of this Broker Arbitrage is the FPA itself, you will be shocked , I was shocked too for only little time, but for sorrow, this seems to be fact, The e mail came to one of my clients, my client , who is a good lawyer too, has forwarded the e mail to me. I was not very much surprised , as it became clear the FPA is the owner of Broker Arbitrage EA.

Where is this email? I want to see not only the body, but the full headers.

So far...

1. Two of the loudest voices in this thread turned out to work for a competing group of websites that had been abusing the FPA's Performance Testing Program. That company also faked emails from the FPA promoting their own products and attacking Broker Arbitrage. You can read about EAR16/TraderSurfing being kicked out of Performance Testing by Clicking Here.
2. No one has filed a formal Traders Court case.
3. No one has proven anything about the broker, other than it was virtually unknown before this. I don't like this either. FPA Testing asked for a new account on a known broker. I am sending a followup to that request.
4. No one has shown if Broker Arbitrage is copying from the MT5 account, if it's the other way around, or if they are from the same source.

If you have even the tiniest shred of real proof that the FPA owns even 1/1000 of a percent of Broker Arbitrage, please post it. To the best of my knowledge, Broker Arbitrage is a product of Forex Growth Bot. The FPA has no ownership interest in Broker Arbitrage, Forex Growth Bot, or any other EA currently on the market.

If you are a lawyer, I'd like to know what law firm you work for and what legal regulator you are registered with. I'm used to non-lawyers flinging libel. A properly trained and licensed lawyer would be more cautious about making libelous statements like this without any evidence.

 

[hossein986]

Don't waste your time , this EA is Scam ,
I bought it and I tried on 3 broker , and did not work .

Alpari NZ, FX choice , and deutsche-trading ( i can not withdraw my money from deutsche-trading , becareful)

 

[Patrichia]

Don't waste your time , this EA is Scam ,
I bought it and I tried on 3 broker , and did not work .

Alpari NZ, FX choice , and deutsche-trading ( i can not withdraw my money from deutsche-trading , becareful)

To hossein986

Can you publish here any documents proof what you say, let FPA believe what you say, please file a scam here on FPA against this EA vendor, the problem tat FPA always asks for a document, he, maybe has his point of view about this, let us help him fight scammers.

 

[Patrichia]

Don't waste your time , this EA is Scam ,
I bought it and I tried on 3 broker , and did not work .

Alpari NZ, FX choice , and deutsche-trading ( i can not withdraw my money from deutsche-trading , becareful)

I know it is time consuming and effort to prepare the evidences , make copies, file, send things by e mail and scanner, but what to do, it is the life, maybe if you do this effort, you will help other poor people not to become a victim, and if everyone will do the same , then we help each other not to be victims. Please do some effort, and provide us here copy of the purchase receipt of the EA, you can hide your real name from it, screen shot of the brokers you used that show the the EA is their, any other evidence to support the case.
I know we all do not like to do this, because of time consuming, and because we feel their is no result from this, and we all prefer to spare our time to trade instead of preparing the evidences. But as the FPA says, you are a trader alone , but together we are army. Also file a case here against the broker that does not want to pay you your initial deposit, as this money will come back to you for sure.
Thank you

 

[kevinrudd]

My BrokerArbitrage works just fine with a real account with Pepperstone who is regulated, look for yourself

... https://www.myfxbook.com/portfolio/brokerarbitrage/967978 & FX Blue - Statement for raytonic

account closed?
FX Blue - Statement for raytonic

which broker u gonna try after this?

 

[balajisi]

Arbitrage EA

Dear Moderator

I am sure that the FPA knows very well that arbitrage is not allowed in forex and is illegal and no good broker ever accepts it nor will in future and even scam brokers cannot accept as when the banks find out traders using price advantage to make money due to latency in feed they will reverse all the entries or the broker has to pay from his end.

This type of EA should never be allowed to be encouraged by FPA. If it is legally allowed show me proof that arbitrage is legally acceptable to any good ECN or STP broker or even market maker broker. Just a letter from any good broker that they allow it

regards
Balaji

 

[AsstModerator]

I came here to make an important announcement regarding the FPA's Performance Test of Broker Arbitrage. Now I see I need to answer another post first.

Balaji,

Please cite any law stating that arbitrage on the forex markets is illegal. After you are done looking for laws which don't exist, contact 10 small forex brokers and ask them to give you an exact definition of the word arbitrage. The answers will not be the same.

Lag trading is only one specific form of arbitrage. It is prohibited by most brokers. I don't know if Broker Arbitrage exploits lag trading or not. I don't know how the 2nd broker datafeed is used by the Broker Arbitrage EA. It may just be a marketing ploy to generate more controversy and publicity. I'm spending too much of my time answering conspiracy theories and don't have enough time to do research.

I have quote regarding arbitrage in general taken from an email from an employee of SpotWare. Spotware makes the cTrader platform, which is used by many forex brokers. It says...

We love them, they bring volume
Arbitrage has a negative feel to it, let them call "traders who look for smallest opportunities" - in my books that is absolutely fine.
If banks are executing, then everyone is fine.

It is too bad that SpotWare won't back up traders having difficulty with brokers. If they did, cTrader would gain a unique edge and would give MetaTrader much more competition.

 

[AsstModerator]

And now, an important announcement about the FPA Performance Test of Broker Arbitrage...

Deutche-Trading was completely unknown to the FPA until it was used in the Broker Arbitrage Performance Test. Sometimes this is how the FPA first finds out about a broker. Some of those brokers have gone on to get good reviews from clients.

The controversy over this broker began with unsupported scam allegations tossed out in this thread, some made by competitors. The FPA acts on facts, not rumors. The FPA considers rumors that appear to have been initially created and widely promoted by a group with a track record of unethical behavior to be worse than useless in making decisions.

Now, what appear to be real reviews by real clients over withdrawal issues from Deutsche-Trading have started coming in.

In general, tests are only stopped for broker issues if the broker gets an FPA Scam Finding. The action taken in this case is due to those reviews in combination with the broker being unknown.

The FPA Performance Test on the Forex Arbitrage EA has been stopped.

The FPA had already requested a new account using a different broker from Forex Arbitrage support. If a new account on a better known broker is submitted, testing will resume.