Can the Forex Robot World Cup Really Decide Which EA’s Are the Best and Most Profitable in the World or is it Just Marketing Hype?
If you are interested in buying a proven Forex trading robot then this page is the most important you will read this year?
Daniel Waser here…
Trading Forex has never been as popular as it is today; everyday sees new traders set up an account in the search for huge profits. So why is this? Can you really make that much money trading Forex from home with no experience?
And with so many robots available to buy how do you know which work and which don’t? Is the Forex Robot World Cup the answer or is it just clever marketing?
When you first start trading there are always more questions than answers, but by the time you have finished reading my review you will have any the answers you need.
Like many other people I was drawn to Forex, not just for the money but also for the flexibility to be my own boss and work from home. It’s certainly as good as it sounds but it’s no where near as easy as it sounds as the majority of robots available to the market will lose more money than they make.
Down the years I have lost a lot of money on so called money making robots and found out just how hard it can be to get one that actually works. I would say that only around 5% of robots that are released each year will actually make money over a period of time.
Despite failing with every robot I tried, I stuck with it as I had read so many Forex success stories online that I was determined to make it work and one day I found a system that was the spring board for my success.
So why am I telling you this story? Well I’m not trying to bang my own chest because I make money in Forex; I am highlighting how hard it can be to find a good EA that works but if you stick with it you will find one.
This is where the Forex Robot World Cup comes into it. The idea behind the World Cup is to find 3 trading robots that are proven to work, taking the pain and losses out of the equation for newbie traders. Basically, they are prepared to do all the testing for you so you can find the profitable systems and start making money straight away.
I certainly wish I had that option when I started, it would have saved me a lot of time, stress and of course money. But when I first heard about the Robot World Cup I wondered how they would do it, why would system owners want to enter their robot?
“The 3 Best Performing FX Robots In The World…The Final Outcome Of Two Months Of Automatic, Real-Money, Live Trading In The Biggest Automated Competition In The World”
The answer to my above question is money. The owner of the winning robot walks away with $100,000 in prize money, with a further $50,000 going to second and third placed robots.
Over 300 robot developers submitted their EA’s, so surely the top 3 really would be the cream of the crop right?
Let’s find out…
The Forex Robot World Cup
So what exactly will you get when you purchase FRWP Royal Trader? There are four main features that you get as part of your FRWC package, they are the members area, the robots, education and assistance and a special bonus! So let’s have a quick look at each one:
Member’s Area
After purchasing the Forex Robot World Cup package you will receive life time access to the member’s area; this is where you can find all the information you need, not just to get set up as you will also find information here that you will use as you trade, whether it be the robots themselves, support, the EA labs and you will also find special guest interviews and live webinars on a regular basis.
The Robot’s
Members will be bale to download the top 5-7 winning robots from the competition, based on the results they actually produced during the testing period. Each robot can be digitally downloaded and will come with security features that will prevent the robots being hacked and will not allow anyone access to the robot without valid data provided by the user.
Given the number of stories going round about EA’s getting hacked, this is a nice touch and means that you can leave your EA running without worrying about hackers accessing your account.
Education and Assistance
Support is what tends to worry me the most about Forex robots. I have used a number of robots that say they offer amazing support 24/7, but the reality is that they simply cannot be bothered to get back to you, leaving you with the feeling that they have taken your money and legged it.
Whether you are having trouble installing a robot or operating it, you want to feel that there is somebody there for you to call on to help you with your problem. The Forex Robot World Cup team will be offering the normal email support that you expect to find, but they will also be offering telephone support which I have never come across before.
This means that you can just pick up the phone and find help at the other end. I was amazed when I heard this – let’s hope that stick to their word on this one! In addition to this they will also be holding regular live webinars, which is also a good chance to ask any questions you may have and also learn from other people experiences!
Special Bonus
I have not been given too much information on what the bonus is. All I have been told is that they are working with their sponsor, FXCM Brokerage, to provide a special bonus that will only be available to FRWC subscribers. As soon as I find out more I will update this page.
How Are The Winners Decided?
The competition was split in to two phases; the submission phase and the testing phase.
The submission phase started back in September 2009 and was open until the doors closed on November 25th, 2009. By this time over 300 EA developers had sent their robot in all with the hope that they would win the $100,000 prize money.
Each robot was then looked at to see if it passed the submission rules set out by the FRWC team. The rules were designed to be extremely tough to ensure that only the best robots made it through to the next phase (you can see a copy of these rules by clicking here). This is probably just as well as 300+ robots is a lot – imagine how much money you would need to test all of those in live trading accounts!
Having put each and every one of the 329 robots through the rule check, there were only 24 that were thought good enough to make it through to the testing phase! That is some cut! That meant that either the other 305 robots were total rubbish or the ones that made it through really were good and would prove it when tested.
The live trading phase started with each robot set up with $1,000 in a live trading account to see which would perform the best. To help show how each robot performs the FRWC team set this up so that all the results, rankings, account statements and more have been updated every 15 minutes on their website – for more info and to see the official rankings table please click here.
The aim of the competition is not only to have total transparency but to also show what the robots can actually produce when set up in a live account. No big claims and no backtesting, just real robots fighting it out to show who really is the best.
Too Good To Be True, Right?
Having purchased a number of robots that lost me a lot of money I was really looking forward to seeing how this competition worked, in fact I couldn’t believe that it hadn’t already been done before. The theory behind it is very impressive and it makes a lot of sense. This was a genuine way to not only find out which robots worked, but it also gives traders the confidence that what they are buying produces good results.
My only concern with it is the amount of time that the robots were tested for. Is a month enough? Robots need to be able to adapt to changing market conditions and I worry that 1 month is not long enough to truly test each robot properly.
Having said that, the robots were not allowed to be updated after being entered in to the competition, so it is possible that they were trading in unknown market conditions. The opening entry date for the competition was September 20th 2009 and the robots were tested between December 31st and January 31st, making the competition span over 4 months which is longer than most robots last.
For more information and to see the live results please click here. If you would like to purchase the Forex Robot World Cup and would like to take advantage of the massive offer below then please follow the instruction at the bottom of this page.
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For more information on how the competition works please have a look at this video:
Click here to visit the official Forex Robot World Cup website
To Your Success,
Daniel Waser