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BrokerArbitrage.com (Mark Reid) Review Visit site

Updated: Feb 8, 2018
1.943 · 11 REVIEWS
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Broker Arbitrage+17.9219.7+2,472.25

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1.943 · 11 REVIEWS
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Randy Churchill,
Nevada, USA,
Sep 22, 2014,

I am writing this complaint to inform others of the scam called Broker Arbitrage. I bought the product back in June of 2014. It was a product designed to trade Forex based on two broker feeds. Since price feeds can be different all over the world at the same time trades would be made based on the difference between two price feeds. I ran the system on a demo account largely because I had been defrauded by Robot claims before. I ran it for two months before I put it on a live account. It did well on a demo account and so I put it a real account. It did well for a month and then it started getting bad trades. It wiped out an entire month of profits in 4 days. Then all of a sudden I started getting authentication problems. The robot would not authenticate and so I was not able to run the system. I contact Mark Reid, but he was slow in responding to the problem. He asked me all kinds of questions that were not helpful. Then after three weeks of problems he finally went in to my VPS and said that my system was corrupted by some kind of worm or virus. So I had to have my entire VPS rebuilt and start to install everything over again. I asked Mark Reid why it took so long. Mark had taken three weeks to basically give me an answer that he could have given me in two days. And so due to poor customer service I wasted three weeks of being down. In hind sight it may have saved me a lot of money by not having the system running.

This is just one side of the story. The other side was that during the time I had the system running on a demo account I was amazed at how well it was trading. So I decided to promote the product and sell it online and make a commission for the sales. As a result I was making contact with people all over the world who were interested. But Mark Reid had set up his sales in such a way that anyone using ATM Visa cards to buy his system would not be able to process the purchase from the U.S They had to use their visa charge cards to buy it. That meant that they had to process the purchase through another clearing bank and I did not get credit for the sale. So even though my promotions on the Internet brought customers I was not getting credit for the sales. It was very frustrating. But as a result of my promotions I had contact on Skype with people all over the world who had bought Broker Arbitrage. I ended up on Skype for hours on some days just helping people because they were losing money with the system. They were describing problems to me, but at the time I was not experiencing these problems. But then all of a sudden the same problems started hitting me.

Broker Arbitrage does not perform the way it claims to perform. It will perform well on a Demo Account but when you put it on a live account things start to happen. Mark Reid recently tried to get a friend of mine to stop his request for a refund on the product by sending him a statement that claimed he had turned $5000.00 into $262,000.00 in 98 days. You will find these kinds of claims on his web site as well. But these claims are not true. When I confront Mark Reid with this disparity and ask him why so many people are not getting these results there is silence. He never responds to the question. I have confronted him many times and he just goes away and I never get a returned email. I ended up losing my original purchase price which was $500.00 because the 90 day refund period had already expired. I would have not had so much trouble except Mark Reid has such poor customer service. Mark Reid knows his system is a fraud. But he keeps selling it online. I now call it Sellers Arbitrage. The seller sells you pipe dreams and hopes that the refund period ends so he can keep your money. The amazing thing is that people like Mark Reid can be in business and cause so many people to lose time and money. I was told that the FBI and local law enforcement will not even look at a case unless the claim is for more than a hundred thousand dollars. And so people like Mark Reid can just steal small amounts of money every day and they don't have to worry about anyone calling them on it. I don't expect to get my money back. I just want to let others know what is going on with Mark Reid and Broker Arbitrage. Stay away.
Prague, Czech Republic,
Aug 15, 2014,

I bought this on monthly basis. I am now after 28 days.
First I used FXOpen but results were losses.
Remember every broker has different feeds so one broker can be profitable with this EA and other does not.
Well then I said OK Mark recommends some brokers I will use one of them and if it fails I will want refuld. I opened account with Pepperstone - btw, damn bad deposit / withdrawal fees but when this EA would earn $50.000 ... I would not care so much.

So results - after those almost month - $160 earned on $1.000 account. So 16% plus after one month. Approx. 15 trades.

KL, Malaysia,
Aug 12, 2014,

Sent request for REFUND. Check the payment, it was debited by XCSystem and not clickbetter. Wrote an email and attached the proof of payment, still no reply from Mark Reid except "I am sorry for your loss"
Kl, Malaysia,
Aug 4, 2014,

Purchased it 2 weeks ago. Had troubled at first to install. the owner not very helpful, only reply one line sentence and have to wait a day for a reply.

Finally succesfully run the EA, however, on 1st day run, the acc loss almost $92, Today 2nd run, if i am still losing money, I will ask for refund. 100% full refund
Singapore, Singapore,
Jul 4, 2014,

The owner of the EA was very prompt and polite with queries. He assured me that its very "easy" to install the saxobank/sxoglobal trade station 2. I am glad to find this review. When I prompted the owner to start a PAMM so that it ease the installation and the fumbling of traders for the stations to run b/w saxo trade station 2 and most mt4, he said that may not do so

Its very strange and suspicious. They insisted that this is "BROKER" arbitrage and that its NOT similar to "forex" arbitrage. Yet it still requires 2 broker's mt4, why exactly is disimilar?

You have a product that actually makes tons of $, 1000%+ whatever gain, thats so fantastic, its almost unbelievable. Why cant you start a PAMM so that traders just join and get broker to distribute the profits/manage verification of accts, deposit, withdrawal processes? Surely its easily than managing user support and refund process (especially if product does work in real acct but users messed up the installation)

This is not similar to forex arbitrage in these ways
1) 60 day refund guarantee
2) 1 yr profit guarantee back of $100 max (if after the 60days u ran the EA and dont make profits, then they pay u $100)

At least guarantee is there, but its still retains somewhat suspicious smell.

FYI, i didnt buy the EA, I lost 10k to bastxxx forex arbitrage EA and its a PAMM acct. I think I will reconsider my decision since I hv read these
Adrian D,
Bucuresti, Romania,
Jul 4, 2014,

Hello. I used the EA for a week on a demo account on a broker where i also have a live account. Easy installation and very good support team. The only problem was perhaps my broker did not meet the EA requirements, as it is stated in the instructions that some brokers works better than others. The result was a small draw down after 40 trades and i asked for a refund because i don t want to open another live account with another broker. The suport team agreed quickly for the refund (wich i obtained in very short time) and also wanted to help me to find the best broker for this EA. They are very honest and that is a sure thing for me. I wish i could try this on another broker as the live test they show is impresive. Thank you for the suport and quick refund.
, United Kingdom,
Jul 3, 2014,

I normally do longer buy EA's but since this one looked different and had a money back guarantee I gave it a go.
First off was a problem with installation. I could install the EA OK on my desktop bu it failed on my VPS. Support responded swiftly and suggested a manual install, which I did. No big issue here, just would like an explanation of what the problem is. Once installed I noticed the parameters for start time and end time wre set to default values which meant that the EA traded for 20 seconds per day! I queried support and they again responded swiftly saying "do not worry these parameters are no longer used". Since it would take all of 3 seconds for the coder to delete these parameters or comment them out, I was not impressed with the response. Remember this is a $500 EA!
I then found that the additional platform which must be run *from SaxoBank) kept freezing with message "update required". When this happens the EA cannot trade. On one occasion I had to reset the SaxoBank platform in the evening and when I awoke the next day, it had frozen again. This is probably the crunch why Broker Arbitrage should be avoided: if it relies on third party software which keeps locking up each time it requires an update then it makes the EA virtually useless. Lastly the profit performance: after 3 weeks of testing I found that the EA would make a small profit, and then lose all the this and a bit more. it would repeat this cycle consistently so that the P/L graph resembled a sinewave!
Overall opinion: a complete waste of tme. But at least I should get a refund.
, Jamaica,
Jun 26, 2014,

This ea sucks. I have only lost money and it does not trade as shown on this site.
This has been a waste of time and money.

2014-06-14 3Star Hi traders.
This week in trading was better than last.
The ea made 3 trades that has put the account in profit.
I've changed my rating from bad to average.

2014-06-11 1 Star Hello traders.
Since getting this ea about a week ago, it has traded twice and both have been losses.
Support has been good but I still haven't seen any profits.
If and when this ea starts to work, I will change my rating.
Portugal, Portugal,
Jun 26, 2014,

I really give up...it was a waste of time...effort...money...that I'm trying to recover.
One complete week without any trade, and the FPA is always increase.
I understand is not FPA fault but when FPA performing tests should also following exactly a final buyer is doing using the same conditions because I see the broker is different as FPA says is not controlling the EA.

2014-06-22 First of all for amount of price taken the installation of the EA should be quite easier, and also the work to have in consideration to have it work, since is necessary to have a other platform running that sometimes stops if sees changes and the renew the subscription every X time.
Regarding the trading itself is really bad after one week between a few trades with 5% management risk I can say that I didn't have a lost...or a win I'm in the same meaning between profit and losses I'm in same as when install the EA, last Friday I decide to increase to 20 the risk management...3 losses...no worries is a demo.
I will give 2 more weeks testing if it will continue as until now, ask for refund...BTW the support is good.
Not so good,
trading, USA,
Jun 21, 2014,

No trades for three days then it made ten trades in one minute and eight of those were losers and the two winners were for $17 plus $1 something losing me $297 in a one minute trade. The EA has not traded since. I am giving this EA one more week to prove me wrong so hope this will work out.