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Are you following the Forex Robot World Cup?

The FRWC was created with the objective of finding the best NON-COMMERCIAL Forex robot in the world through a competition based on solid and transparent rules.

What does non-commercial mean? Simple, robots that are not being sold or marketed anywhere but are solely used by their developers.

Hundreds of independent robot developers from all over the globe joined the FRWC to compete for the #1 Prize... US $100,000 (which is why the FRWC got the BEST of the BEST robot developers to participate)!

Now... the competition has two phases, the qualification phase and the live (real money) trading phase.

As of December 1st, 2009 the live trading phase started with 24 robots out of the 329 submitted during the qualification phase (which lasted over 2 months!)

You can view the live (real money) results of the 24 competing FRWC robots (updates every 15 minutes) here.

...and, by the way, you will also be able to view each robot's real money live account statement so you can see each and every trade it takes as the competition progresses, right through to the end on Friday, January 29th, 2010.

It is truly exciting to finally see an event designed to separate truth from hype...

Update January 2010: Once the live phase of the FRWC is over this coming Friday, the winning robots will be available for purchase (in very small quantities).

February 2, 2010 I was also validating the accounts and betatesting the FRWC bots that will be released to the public on Feb16. So far robots look very promising. I will be able to release the detailed backtests and the results after the FRWC launch.

February 4, 2010 FRWC has released a great interview with FXCM, main sponsor. You can listen to it here.

February 16, 2010 FRWC robot sales will start tomorrow. FRWC announced great Fusion V robot which will come as a bonus. You can check it our here.

As ever I was among betatesters and here is my forward test of the FRWC fusion robot on Iamfx broker. Click Here. FRWC FUSION V BETATESTING RESULTS.

March, 2 2010 FRWC News came out today. FRWC's Royal Trader will close its doors to new members on Friday, March the 5th. They decided to limit the sales to avoid the "oversold" effect and concentrate on the current members. Good move.

The account is trading default settings but the Volcano Strategy is turned off. I don't like volcano strategy personally because it does not work stable enough during the huge downtrend of GBPJPY.

Remember to stick with safe trading lot (0.01 fixed lot per $1000 of the balance) and you may want to turn off Straasha strategy in Fusion to avoid increasing the lot size by its strategy! I am also beta testing the new Hirider which they are going to release to the members in future. So far results are pretty good, i even placed it on the Forex Challenge Account.

You can listen to my audio review of the FRWC using the player below:

I am getting a lot of questions about Forex Robot World Cup. I’ll keep this FAQ extremely brief. here are some answers:

1. Is Forex Robot World Cup legit?

Yes it is legit. The sponsor is the largest forex broker in the world FXCM Yesterday FRWC released an exclusive interview with Matthew Navie, V.P. of Institutional Sales & Business Development at FXCM
You can listen to it here. Another sponsor - well known Boston technologies. They provided special Metatrader for FRWC!

2. When will be EAs available for sale for traders?

I think it will happen on Feb 16.

3. Did you verify the FRWC trades?

Yes, I have received the investor access and verified the trades of the top performing robots. I heard some other review sites like FPA are verifying the trades too.

4. Are the top 3 as good as they look in the contest?

LMD traded with very high risk but the robot seems very consistent. Hirider looks extremely stable. Supervolcano, Simple, Cobaltfx look good to me as well.

5. Do you worry the contest is only 2 months - that is not very long for a true test.

Right. However the contest was on LIVE accounts, not Demo. That means a lot. That means robots had real battlefield test. Most of them could not survive the test but top 7 winners must be really bulletproof.
Plus the live trading happened around Christmas and New year - traditionally hard tome for every forex system.

6. Will FRWC 2 happen? When?

The EA submission for the 2nd Forex Robot World Cup Competition has already started. It is finishing March 31st, 2010 so if you are an EA developer - don't miss out!

REVIEW: Hi guys! Well...Finally we have new winner! I Think everyone heard about it. Fapturbo was released 25th November and made a huge buzz over the internet. No wonder as seems it is a really first money trading robot, the product we all so expected for a long time among all the crap that is popping up on the market every single day...

I reveal my secret - I was invited to the Fapturbo betatester group and results are great so far! I still can`t believe it is possible. I will share more results and updates soon! Take care!

No long talks here. See my video report and review my fapturbo live trading statement. Click Here. Let numbers speak for themselves.

UPDATE I have found one great FAPTURBO review by one of its affiliates Click here to watch it Please note that guy is not independent reviewer as he is forcing you to use his affiliate link! But still I believe it is worth of watching.

Update December Charles from Fapwinner.com has issues special FAPTURBO Settings report with his own settings&strategy and added fapturbo to Fapwinner portfolio and discussions and started fapturbo mentoring class.

Update January During last month we've been pretty flooded with your emails about new Fapturbo robot that showed such fabolous results in real trading in november. Is it still working?? So I asked Mark to shot a video update with his recent results:

BTW, Fapturbo guys opened a new private forum few weeks ago and run monthly mentoring sessions soon on fapturbo. So don't miss it!

Update February 2009 January results were incredible! I got just one losing day in the whole month! The current version is 36 and the developers are working on the new updates. You can follow them on Twitter here. to get the latest news on their progress

Update Congratulations to fapturbo developers! This robot won the world Forex Robot contest. I quote: "The first to cross the finish line of this, the 3rd world contest of automatic trading, was FAPTurbo . This forex robot was the undisputed winner of the 3rd contest since its beginning. An extraordinary 62.2% equity increase was reached with this robot becoming the new highest ever equity growth in our live competition. . The second place got 10PipsPro Robot (negative equity growth -13.4%) and the third was Forex Tracer Robot (-34.0%).

Update April 2009 Fapturbo continues its wonderful performance on my account. However guys I am sure you need some 3rd party results. Take a look on Donna's account here http://donnaforex.mt4stats.com/ - she managed to triple the deposit in few months! And here is the 4xrobots Robot Race where fapturbo is the top winner again:

Update May 2009 Cool! guys, new fapturbo version 47 was released today! I've already made a few quick tests and it looks awesome!

Update Fapturbo.com robot has become so popular and profitable that every scammer dreams of cloning it. There was a huge number of scam clones created recently. Read my fapturbo scam clones report. Beware of the clones!

Update august Rob Casey has developed a detailed fapturbo guide which is worth reading. It is not free however if you are serious of making money on fapturbo it is worth it. Read Fapturbo expert guide.

Update October I am betatesting the new fapturbo 49. It is a new version that will be released soon!

Update November 2009 New version fapturbo 49 was released. It has great new settings for USDCAD and EURCHF and trades new currency pair: USDCHF. Read full report

Update January 2010New version works really good. Here is my balance growth from the Iamfx.com account:

REVIEW: To be honest we all know that original ForexAutopilot (FAP) email support sucked. These guys became too popular and really got overloaded with support requests. I heard they get over 500 emails each day (!). On the other hand I can understand them too. For example even I get emails from some newbies who have problems opening a file that you should not open at all!  Sometimes I get requests for help from some of FAP clients who say "I can't open EX4 File, help me dude!!". Folks, why on earth don't you read the instructions!?! You should not open it at all, just place in the "Metatrader/Experts" folder!!!

Some time ago good fellow trader, Charles A.Floyd II, noticed the FAP system and decided to change the world. He was so dissapointed reading that people critique this great product and call it a scam just because they don't bother to read the instuctions and can't set it up properly.

Charles decided to open the FAPUG (fap user group, some kind of community on yahoo), develop his own settings and trading plan (FAPTS) and help all FAP clients for free.

Needless to say, his group rapidly gained huge popularity and grew to well over 900 members in just a few months! Finally Charles' efforts were noticed by FAP creator Marcus Leary and his team and they made Charles the master FAP trader and decided to unite efforts.

So FAPWINNER was born. It is a killer combination of award winning Charles' support service (rapid email support, live chat, FORUM, remote help, phone support, personal appointments and weekly mentoring class - I heard Charles hired over 12 people to help him with that) and great working ForexAutopilot. Moreover Gold and Supreme members get access to the Charles' Hedging EA. I had a chance to grab a link for the backtesting of this EA. Take a look.
Yes, this service has high costs (from 199 USD) but I suppose it is worth the money.  You decide anyway.

Update Today my pal Mark recorded his video review of Fapwinner on YouTube.. hehe looks like this dude really liked that stuff:
Check out FapWinner video review by Mark

Update August 2008 Wow! FapWinner is going WILD! Charles decided to create first FapWinner world seminar in October 2008 in MATTESON, IL! you can check out details and apply here

Update November 2008 Charles A. Floyd is opening a new service for a limited group of traders. It is called Golden Grid Managed Account Service. It is not a FAPWINNER product but somehow it is connected so I decided to write about it here. Later I will prepare a full review. I have signed up myself for the Golden Grid service last week and it already made 32 profitable trades so far. The idea of the Golden Grid is rather simple: this EA is building a grid of pending orders in both direction that will close with a small take profit value. I will keep you updated with results. Wesite looks very nice and I liked the fact it is a legal registered service from Floyd Group LLC with a phone support and a valid US adress.

Update Great news, guys! I have a new section "Inteviews" where I will interview forex systems creators. Today I have a first interview with Charles A. Floyd from FAPWINNER! This interview is a "MUST LISTEN" for all.

Update December Charles from Fapwinner.com has issues special FAPTURBO Settings report with his own settings&strategy and added fapturbo to Fapwinner portfolio and discussions and started fapturbo mentoring class.

Update April 2009 Charles published interesting video about fapwinner on youtube. Charles A. Floyd from FAPWINNER on Youtube! I heard fapwinner is going to start a series of free webinars for its members. Don't forget to read Charle's Notes on forum.

Update June 2009 Fapwinner is organizing World Seminar 2009 in UK. Megadroid and fapturbo team, donnaforex, 4xproject and other stars plan to come. You can get more info and apply here.

Update August 2009 Fapwinner has introduced the whole new concept and website. Now it is called Forex Amplified Performance Winner and has great number of new services including Fapwinner Area51

Update January 2010 Charles has released the Fapwinner scalper. It produces really good results. Take a look on the backtest. Ask Charles how you can get it.

Hi guys! I guess you heard all the buzz about the new Forex Droid robot that was released 31 March.
As you know as always I am in the insider group of first betatesters and had a chance to test it before the rest of the world. Here is my first test results and they look really good. The robot is trading EURUSD pair which is not a spread-dependent and uses Artificial Intelligence and some complicated RCTPA technology to adjust the stop loss according to the market volatility.

Fx Droid Testing Results - Note: I use 0.1 lot and no money management. That's why profit can look low. The timeframe is M1 or H1 - it does not matter. Robot chooses proper timeframe itself.

The main question is: Is it better than fapturbo?

My answer is you can't compare them. If you are a serious forex trader and plan to make money you should understand that your forex trading portfolio should consist of several good systems. Remember, the diversification is the key to success! When one system has a loss the other one has a profit so your chances to win simply increase! That's why I review different systems to introduce good robots to you and of course to you!

I will update in a few weeks with more results on this robot!

Update January 2010. Forex Megadroid works very consistent for the last year. You can see the stats here.

Forex Nuke is a clone product of Forex Phantom. Both EAs have the same code but the vendors co-exist in peace. Seems they both bought the same code from one source programmer and redistribute it.

The Forex Nuke robot trades EURUSD M15 based on Moving Averages and Commodity Channel Index indicators.

The backtest looks very consistent for 2007-2010 years. Take a look:

The main disadvantage - the robot trades only one pair and does not trade often. It can sit and wait for trades for many weeks without any trading activity at all.

Forex Nuke comes with full money back clickbank guarantee plus they provide a set of bonus indicators and videos. Vendor's website also contains complete backtest results and a forward test as well.

My opinion - Forex Nuke is one of the rare good EAs that you can add to your trading portfolio in 2010.

Forex Cyclone was a nice exception among a number of crappy EAs that came out on the market lately. The sales pitch contains traditional marketing BS and million dollar claims however the real performance of Cyclone was surprisingly good.

I have tested this robot on EURUSD M30 for about a month and get good results. I also found out that robot can be used on some other pairs like GBPUSD, AUDUSD, EURGBP and USDCHF. Make sure you are using low spread broker like Iamfx.com or something like that. You can also try adjusting the parameters for other pairs, for example: S/L = 60 T/P = 30

Forex Cyclone performs good only during normal market. It can be unstable during weeks with high impact news releases, so beware and don't leave it unattended!

REVIEW: Last week I bought the ForexAutopilot package. It is a new system from Marcus Leary, forex trader. The system is a nice set of expert advisors that trade forex on your account. Yes, I know there are too many crap expert advisors that never work or work only for short periods of time (for example only in a trending market). I expected the same from this one and did not expect too much from it. To my suprise when I started to backtest Forexautopilot on history, I was amazed with the results. Advisor made over 250% in 2007 trading 1 lot! and the most important - it never lost the deposit even if I backtested it in 2001-2006! That''s a stable one. Looks like Marcus did a good job optimizing it.

Update I Decided to run it on my real account... will keep you informed and report about results next month...

Update After a few weeks of tests and live-account trading I am really excited about it. Also check out my friend''s live account results on the youtube video:
Check out the FAP video review by Mark. Discover how he tripled the account

Update June 2008 In June, the Fap Team released the new version of their great ForexAutopilot EA! Well done guys! The new version has all the features enabled, it can now open several trades at the same time, work with other EAs and manual trades, using trailing stops!
\r\n A great guy and professional trader, Charles A. Floyd II, a few months ago, opened the friendly FAPUG group with perfect support for all FAP members. It now has over 400 members. You can join it here and get help and piece of advice on FAP and FAPTS system.

Update August 2008 In July Charles Floyd, II founded the new FAPWINNER.com Website with premium support service for all FAP users. It has lots of support options: from rapid emails, support to live chat, phone helpline and personal appointments. The most important thing: FAPWINNER has a private FAP forum available for its members. Also FAPWinner includes Charles'' Hedging EA Click to visit FAPWINNER.com

Update September 2008 Many readers asked me and Mark to share our latest results with FAP. Does it still work? How does it perform in new market situation with the downtrend of EURUSD? So I pushed Mark to review the "FAP Results Update video". Here it is:

Update November 2008 How is FAPS doing? Doing good. My deposit is growing. I will not shot new video about FAPS every month otherwise you will think I promote it. So I would better show you results of other fellow traders. Here is my readers Spencer. He sent me his FAPS report for november: he had 29 winning trades, 2 losing trades and doubled his 1000 usd account in 8 days. Not bad, huh? Here is the screenshot

REVIEW: One of our readers Brian Watt asked me to review new Forex AutoTrader (FAT) service.

Forex Auto Trader is a new system by Craig Reynolds, professional forex trader. The system showed great results as on backtest and on the live trading. Craig published his live trading statement here

The FAT backtest results look promising as well:

Click to enlarge the image

You know nowadays it's hard to find the vendors who really trust and trade the system they created not just make money on selling their product. So Craig is a nice exception here and that is very important that he trades using his own system on his real money.
The only bad thing I can say about FAT is that it works only on one currency pair, EURUSD and you know this pair's behavior is crazy during the recent month. So be careful, guys!

Forex Bling is a package from Yohanes R. Gagahlin, the creator of ForexHope. The package consists of several robots. Few more robots are promised in future "Due to our schedule, Thunderstorm EA and Grid Specialist EA will be delivered in October 2009. "

Forex Bling has got EAs for every type of trader - from scalping to trendfollowing, breakout and grid system.

Freedom-909 is TrendFollower system based on the FreedomTrigger indicator.
Thunderbolt-909b is the clone of the ForexShocker (which is same as Dragonpips) strategy according to analysis by one of our readers. It is a good scalper for EURUSD and GBPUSD. It trades during the asian session like Fapturbo.
Evolution-909 - on the specific time it opens 2 trades with opposite direction with TP that is 5 times larger than SL.

The bad thing is - you can't backtest the systems. ForexShocker shows good backtest so you can trust Thunderbolt for sure. The forward test also shows good result: http://thunderbolt.mt4live.com. Unfortunately we have no backtests for other systems and it is not possible to do them because of the sophisticated dll-protection.

Few more critics - the support is non-existent, we tried to contact them however never got any reply. The website and EAs were released in a rush - the vendor had to release 4 (!) updates after the launch to fix the bugs. From other other hand it shows that vendor cares about its product which is a good sign.

Good thing is - Forex Bling comes with money back guarantee from clickbank. I believe Forex Bling is worth having.

Forex Juggernaut website is filled with traditional hype offering you to "CRUSH The Greedy Forex GURU HEAVYWEIGHTS".. lol. The creators are guys from "next generation fx trading" company. They have developed such EAs as forex transporter, forex knight rider, forex kryptonite, forex redemption, forex ironman, forex surgeon, forex godfather and some other EAs with fancy names but poor trading results. That's why I was bit skeptical about this one too.

The EA has a proper logic - the signal is symmetrical and based on Envelopes(5) indicator. The only filter is time. There is no curve fitting inside or tricks with history. That means that EA should work consistently for a long time.

The backtest looks very consistent for 2005-2010 years. Take a look:

Click here to study the full Juggernaut backtest

I have placed the robot for the forward test and report more results later!