Discuss BumbleBeeFX.com

[tec777]

Hi
Here are some answers to your questions :
1 - first and current broker works with BBfx is USGfx, it is in Australia. FxChoice, I do not not , you have to try .
2 - This EA requires only 1 account.
3 - They reply within 24 hours usually, except weedends.
Hope this help you

Also, since I am new and learning...Is BBFX a true arbitrage? Scalping EA? or mix of both?

 

[tec777]

Thank you for your input. I would see it the same way. Wish there was a little more clarity about it. Seems like its the best and greatest, but also like there are quite a few unknowns and hurtles to go through to just possibly achieve what BBFX boasts it will do.

 

[1wildhorse]

Thank you for your response! I first was looking to join brokers in Australia, but the two I looked into both asked if I was from the US and then denied me because of new regulations.
If I do find a broker that BBFX will run on, will it actually work if use the correct settings? If I just leave it on Monday-Friday will it be worth the grand? Has BBFX surpassed your expections?

i dont personally know of any brokers in the US it works on.forex.com obviously but apart from that.....a lot of brokers in the US are specific to the US according to my understanding,because of regulations,so anyone outside of the US probably wouldnt know either

 

[tec777]

i dont personally know of any brokers in the US it works on.forex.com obviously but apart from that.....a lot of brokers in the US are specific to the US according to my understanding,because of regulations,so anyone outside of the US probably wouldnt know either

I am currently registered with FX Choice, and it is based in Belize. They told me scalping EA's are approved with their brokerage. They did mention regulations against arbitrage. So that is why I'm asking if BBFX is straight up arbitrage?

 

[tec777]

i dont personally know of any brokers in the US it works on.forex.com obviously but apart from that.....a lot of brokers in the US are specific to the US according to my understanding,because of regulations,so anyone outside of the US probably wouldnt know either

And I'm not sure, but FX Choice is regulated by IFSC, not sure if that is a good or bad thing?

 

[1wildhorse]

And I'm not sure, but FX Choice is regulated by IFSC, not sure if that is a good or bad thing?

i already tried with fx choice,didnt work....

 

[Patrichia]

Thank you for your response! I first was looking to join brokers in Australia, but the two I looked into both asked if I was from the US and then denied me because of new regulations.
If I do find a broker that BBFX will run on, will it actually work if use the correct settings? If I just leave it on Monday-Friday will it be worth the grand? Has BBFX surpassed your expections?

Of course, 100 %

 

[Patrichia]

FX Choice does allow scalping EAs. Does anyone know what broker is set up on live/real for the BumbleBeeFX ForexPeaceArmy test?

Dear
It is clear in front of your eyes, here, just look at the top on test statement on FPA, you will see the name of the broker , it is Union Standard International Group Pty Ltd , you can not miss it.
Hope this answer is fine with you

 

[Trader3003]

I think you may have misunderstood my point, flow can easily be labelled as toxic, the LP cannot reject individual traders but they will withdraw liquidity or give brokers an ultimatum on the ability to use their flow. This is quite common as in the end the LP holds the cards. Traders here have mentioned price gaps on news and increased slippage, this would point to that exact type of behavior.

Banks/LPs have dealt with arbitrage for years but they don't simply accept taking a loss in a few millisconds from a retail trader. Retail flow is labelled as soft flow and LPs expect to earn a positive revenue from these traders, not to be scalped on a price delay.

I would have to agree that 40% monthly is a realistic target but if you have 20/30 traders all attempting to make 40% through the same trades on the same broker then you will again run into the same issue with brokers spotting your latency arb.

If all this is true and confirmed by bumblebeefx the question is why bumblebeefx has developped an arbitrage trading system for soft traders on MT4 well knowing that brokers, LPs and banks will not accept.
As I know serious brokers and all intermediar actors in the forex market are paid on commission and/or spread basis. Where is the interest for volume restriction? What is MT4 traders quota in forex trading? Are MT4 traders a menace for the market?
When you have a loss trade this loss goes to other winning traders, when you make a profit this money comes from losing traders, via brokers and other actors. Part of the transaction like spread or commission goes to brokers, LPs. More we trade more they win.
In conclusion your and my description are only part of the truth.

 

[lanov]

Bumblebee, will you add us to the skype group?