ArbitrageRobot.com Review

stay away from this criminals. they want to make you belive that you lost all money with trading. but thats not true.the truth is that they move your account to gcg broker and steal your money. they work together with that broker ! all trades which you see in your account are fake trades. the will cheat you !! i complained by the wvc and gcg broker but no response. also i complained at euedex but so far no response !

2016-03-22 1Star was also cheated by this bastards ! i used their pamm with 2000$ and they stole my money. they lost all with only 1 trade. they are cheaters and criminals. no reaction on emails etc. donßt beleive them, all is fake : example accounts, names, firm name etc.
stay away from them. i called the denic, so that they will delete their website from internet, to protect other victims !

hope that will help other victims

jesse01

Give client money back or be ready to face the compaign against you.
MT5forexexpert & MT4fxrobot both are fake Because client account of $3700 blown by FXMMP team within 12 hours, If MT5fx Robot works then they could use it and dont loss client accounts They are all Scammers, cheaters and dont reply back. All myfxbook performance is fake and not verified.
Its sure and now confirmed that Robot Doesnt works. People see Real account statement of their money management.

Not only arbitrage fx system.They,have wide of website domains and also one website domain closed then open another website domains.Please awareness about this f***ing guys.This,Robot and demo accounts are not real only scam.That is pure scam. This,My personal opinion i am also bought but not profitable only go to loss.

I want to share my experiences with this scammer in two different areas, firstly regarding their EA so called Arbitrage EA and secondly regarding their MAM service.

1. Arbitrage EA

I bought the EA on 16th of January this year from those site paying 1500 US$ because the examples on their website running with demo account were good enough to call my attention. But soon after buying the EA, my frustration has started. In order to run this EA, I had to find proper VPS, Master broker to give signals to slave broker, and Slave broker running with the signal from master broker. These three have to have a good combination for the EA to produce profit. It was so complicated job that I could not figure out. I then contacted seller regarding this matter, and they said that I needed to buy Arbitrage Viewer to find proper Master and Slave broker. So I paid another 250$. They didn’t assist me to find proper brokers and settings of EA but kept said, “you can use default setting.” After more than one month struggling finally I found VPS, Master broker and Slave broker showing good result. I was so excited watching the performance. However, the excitement went to worst. The result on demo was excellent, but when I applied it to real money account the result was opposite, losing money. I contacted them again and asked to show me real money account examples. They showed me couple of examples which were all accounts of FXCH or FXGCG using same broker server: 207.228.252.28:443 located in New York. So I opened FXCH account and started trading with this EA. But the performance was terrible. I contact them again and asked to assist me to set the EA. The reply was we use default settings. That was all their answer.
Finally I discussed with broker regarding the different results. The broker said it would never work at real account because liquidity feeding requires latency or delay unlike demo account which doesn’t need liquidity. This EA requires a micro-second execution speed to open and close a position. In theory it is not possible at real money FX world. Now I suspect that even the real account examples on their website are a kind of manipulated one. I mean they are not real money accounts. If they are real account and work well, why didn’t they let their customer know settings of variables of the EA? I have tested more than 15 brokers. Mostly it works on demo well, but it never works on real money account.

2. MAM service

While I was struggling with the EA I asked them if it was possible for them to trade my Go Market live account with their EA and share profit 50:50 as advertised on their website.
Of course they said yes, and I handed over the account information to them. As soon as they received the account information they started trading manually rather than trading with the EA. They opened so many positions and market went to negative direction soon after they opened positions. That day was Friday evening, and on Monday market open, my account hit the margin call and my 15,000 NZD account was blown out. It didn’t take long to destroy my account. After that heppened they didn’t even say sorry. No reply, no answer….

In conclusion the EA works well on demo but never works on real account. Also their MAM service is not true. They only wanted people to be deceived with the advertisement. They are frauds or scammers (I don’t know what is right expression to them - I am not an English speaker as a first language).

I write this review to prevent another victim within our Forexpeacearmy members.

Today PAMM dept staff FINALLY reply to my email pls refer below:
================================================
Hello,

It seems that you haven't received my last email. Since the results posted on the website of the Steven Tornsten (The pamm manager) are from another companies HotForex has no power to go there and check if they are legit or not. After talking with FPA I have come to a conclusion that the best option for you is to go and file a case against Steven Tornsten, so FPA has the power to go and investigate deeper with the brokers mentioned on his website.

You can file a case against him at the top of his review page. There is a blue button called +File a case.

Thank you!

Kind Regards,

Venelin Videnov
===============================================
it maybe a technology glitch, but heres some interesting thoughts
1) I didnt blacklist HotForex mail and I followed it up on Mar/4 and no reply
2) I followed it up again on Mar14 and INCLUDED the scam alert link in FPA to HotForex and also to inform HotForex that customers are ready to downgrade their services. My mail was sent out on Mar14, 9.49am and their reply was sent at 3.28pm.

Its interesting that on Mar/4 I did not mentioned the FPA filing, and on Mar14 I did and included the link and informed them of potential damage to their corporate image as a brokerage. If I had blacklisted their email, I must have ESP such that I enabled it back coz I knew they would respond.

There were a few emails between myself and Venelin from HotForex on 14/Mar. She confirmed that Theo and my acct were traded by the same PAMM trader. I further pointed out that this PAMM trader seems to be very "versatile" and of record had already opened various PAMM accts with HF and that HF should reject ALL his applications (by flagging his ID and Name) from opening ANY PAMM accts in HotForex in ALL branches of HotForex

Venelin has forwarded my email request and as far as I knew this PAMM trader is now banned from opening PAMM accts with HotForex.

Unfortunately I am not a customer of Instaforex, FXCH etc which Arbitrage has PAMM accts with. I seriously urged ALL Arbitrage customers to come forward and sent your complaints to your individual brokerages with this FPA link.

The fact that HotForex has taken such a clear direction in this matter may serve as a consideration for other brokerages to do likewise (before more customers filed similar complaints).

FPA admin: I still cant seem to find my court case, if this was never filed (despite my memory), pls let me know coz we are going to court!

A note abt Errol
I came across his angry messages at Arbitrage FB page. I messaged him my experience as well as this link. I also let him know that I had filed a complaint with HF Pamm dept abt this Pamm, and that PAMM dept staff from HF had called me to even "assured" me that investigation has started after he talked to me.

I also told Errol that HF has not replied to me after abt 1mth from my complaint. I am VERY ANGRY abt HF's attitude, for not just allowing this unethical person to trade, but didnt even (obviously) done anything or start any investigation (despite the personal assurances) to this PAMM trader.

HOW MANY traders do HF wants to lost $ before they will seriously look into matters and at least go whipped this King Kong and gave us our justice. HF may not be able to forced the PAMM to return our lost $, but at least show that they also care abt us!

I now got such bad imagine of HF that I would vote that HF should be down graded! I really dont understand, why HF Pamm dept ignore my mail, obviously ignore Theo's mail and now ignored Errol's mail. All THREE of us filed a complaint with HF abt this PAMM!

My court case is now under open case, when its up for voting, I would like Theo and Errol to join me not just to whip the PAMM publicly, but also put in some comments (objective comments) regards HF way of treating a complaint (without any x-rated language include, hopefully, at least my was polite and I only pt out the PAMM's unethical behavior). Hopefully those of us who also felt that HF could have done more to protect us, pls if u can give some feedback on how HF could improve on this going forward

I am not sure abt how HF regulate the PAMM, but HF should have a stricter criteria of asking every registered PAMM to have at least 3mths of LIVE trading results before he/she can bring in any customers.

If u are giving your feedback regards HF, please do so in polite, adult manners, and try to give positive feedback that you feel should help them to improve. No x-rated language, no abusive comments, please

last week I was scammed by Arbitrage Fx Robot of $7000 in 1,4hrs 14 trades for a total of 50 lots traded
do not trust HOTFOREX TO STOP HIS PAMM ACCOUNT THEY SHOULD BE DOWN GRADED AS GREAT BROKER !!!!
they have been told before that Tonsten is a scamm but yet him continue to allow him to trade and cost people their hard earned money
i want this issue to go to traders court and i also want HOTFOREX INVESTIGATED FOR THEIR LACK OF DUE DILLIGENCE

Following my complaint to HotForex and HF pam's dept staff who informed me personally that investigation has started, its obvious that HF has not temporarily put a stop to the trader to disallow him to open PAMM acct, until they have sorted out the complaints.
HF pamm's dept also did not communicate with me since the complaint and phone call from them as to their decision or discussion regards this matter.
Although it is not HotForex fault, but I felt that as a responsible brokerage, at least they should have pay attention and taken steps to ensure that this PAMM trader is suspended pending investigation
Perhaps HotForex Pamm dept would like to join us and discuss this topic? I dont know when Theo has taken up the PAMM acct with Arbitrage, but if its AFTER my formal complaint, then HotForex has better do something abt it. Just a few weeks ago, a PAMM wanted to promote this services and told me that they work with HF. I was so disappointed with HF's response that I had KIV the PAMM's services. HF is not responsible for losing our $ but letting this PAMM trader to continue to register as a PAMM trader and trading clients accts without any responsibility and using unethical means to advertise, is something clients will think twice abt. I am now thinking twice whether I shld even try to learn to trust myfxbook results whatever and trust PAMM that are registered with HotForex. Coz its kinda make think that any tom dick, harry and even any mickey mouse that is capable to registering a PAMM acct with HF, is doing so. And these unethical ppl are scamming clients of their $, and even after a formal complaint HF has not seem to take any action against this PAMM trader.

HF Pamm dept: take note, I have sent another email and I will keep sending until you take action and let me know your decision. Sure you can keep that trader on board, You get to earn the spreads, and with his scamming ways,HF will keep earning more $ as he is allowed to scam more ppl. HF doesnt care abt clients, so why shld we select them as broker, the competition is very high among brokerage. There are always better brokerage with more regulations regards their PAMM, and who are more aggressive in taking actions. You dont have to answer my email, but rest assured, I wont select your brokerage in the near term!

I fully agree with the former reviewer. Yesterday evening 20 February 2013 I funded my PAMM account with US 2500 and sent an email to the signal provider Arbitrage Robot Forex that he could start trading. This morning 21 February I was very surprised to see that my balance was reduced to US 405, after only two trades !
This is not trading but gambling. I also have contacted now the PAMM department of HotFores and await their comments.
Please do not open a PAMM account with this trader !!