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Forex Robot World Cup?

  • #201
  • Mar 20, 2010 7:27am Mar 20, 2010 7:27am
h**p://forum.mql4.com/26598/page6

go the bottom of the page. freebie.

The fact that FXCM joined forces with FRWC shocks me but then again. Yesterday, I realized that their Market scope trading platform is the same as Deutsche. Assuming that DB is the original source. (fxcm) I have used their micro accounts for over 2 years.Basically once they started to offer these accounts.

My friend followed behind me about 6 -12 months later, and his platform gets the notorious lockup, Removed Stoploss (we use fixed SL in the 1 click trading mode as a MAX SL, so this SL is always in place for a safe guard), and huge delay in execution around good volatility.
You may say, " ooh thats because of His internet connection," Well thats the shit that FXCM tells Me in their CHAT service.

But the thing is, I use VIPER CLICK to trade 2 accounts at the same time from the same computer, from the same internet connection. I get filled and my friends account does not. HMMM.. could it be that my account is on a different server?? Who knows. All I know is that the shady stuff that you hear about with fxcm's platform is True for some! I have just been 1 of the Lucky traders.

Anyways, I received an email (FXCM) regards a Spread increase to equivalent to std accounts. so no more 1.2 on EU or 1.4 on EJ;-( I pulled my funds and I will no longer use fxcm for this fact and their association with FRWC.

Another thing that bugs me is, a SCALPERS forum on Daily FX, as moderators post screen shots of their $1,000 daily profits, saying " yeah we scalp daily, and you can Too.. "
  • #202
  • Mar 20, 2010 7:36am Mar 20, 2010 7:36am
Quoting matthew11
It would be unfair of me, in the interests of balance, not to say that I requested by email a refund yesterday from the FRWC and within a couple of hours had received a reply saying that the refund had been completed successfully. By the end of the day I had also received a refund receipt from Plimus. So for me the refund process could not have been any quicker or easier.
I had been intending to wait until the end of the month to request a refund so that I had one statement that ran for a whole month. But as I had run five demo accounts with different...
Great. I hope everyone else gets their hard earned money back..
We shouldn't be shocked by this legitimate business practice. We should have seen the red flags on our own as other FF members pointed them out to us!

As we continue to get bombarded with FX products, there is a point that we shun any product that we come across.. The attitude from many newbies and experienced traders are becoming more and more negative. Its really a shame!
  • #203
  • Edited 1:35pm Mar 20, 2010 1:25pm | Edited 1:35pm
CodeMeister, thanks for the 'Good Guy' title in reply to one of my earlier posts, I didn't notice earlier. And yes you were right Jason Rogers' reponse to my email was very quick and helpful as were the actions he has taken. I will not quote directly from a private correspondence as I have already said but a summary of the actions taken can be read in the cutting below from the FRWC thread on another forex forum.
Ipndasno, You are right that refunds should be "no questions asked" as that was part of the FRWC refund policy. And I didn't post the comment to show how pleased or surprised I was to get a refund. Simply to illustrate that all the scam warnings and worry from people concerned that they may not be going to get their money back may be premature and people shouldn't automatically assume that they won't get a refund. I also know that I sent my refund request to the FRWC immediately after writing to Jason Rogers and with the speed that they responded to me it is unlikely that there was enough time for FXCM to have had any influence in my case on the refund going through so quickly. The fact that the FXCM representative responsible for the FRWC deal is now looking in to things also cannot but help, if any help was actually going to be needed by the majority of people requesting refunds, to make the refund process smoother.
Lastly, this is in no way meant as a personal criticism and I hope you will not take it as such because I could have found a similar quote in dozens of other posts. But “ We should have seen the red flags on our own as other FF members pointed them out to us!” I really don’t need anybody to point anything out to me to help me come to my own conclusions, and any person that needs people on a forum who they don’t know and know nothing about to help guide them in their decision making process deserves to be walked down the garden path and hung out to dry. I for one, as I am sure a lot of other people who signed up to the FRWC did, looked at the guarantee, and FXCM’s backing, and thought I had nothing to lose by giving it a shot. I wasn’t aware of charge back, but I did know that if I paid on my creditcard I would have fraud insurance and therefore no problem if any issue did arise.
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  • #204
  • Edited 5:21pm Mar 20, 2010 5:20pm | Edited 5:21pm
Quoting matthew11
It would be unfair of me, in the interests of balance, not to say that I requested by email a refund yesterday from the FRWC and within a couple of hours had received a reply saying that the refund had been completed successfully. By the end of the day I had also received a refund receipt from Plimus. So for me the refund process could not have been any quicker or easier.
I had been intending to wait until the end of the month to request a refund so that I had one statement that ran for a whole month. But as I had run five demo accounts with different...
I never thought of this angle to the 30 trading days policy. But it is an example of unintended consequences for FRWC because I doubt if they thought of it either.

For the life I can't think of why they came up with that interpretation of the meaning of 30 days. But it goes to show that obscure and misunderstood interpretations can have unexpected consequences.

I also agree with one of your other statements that far too many people made the assumption that they weren't going to get their money back even before they made an attempt to do so. I think refunds will be grudgingly granted until FRWC gets into desparate financial shape.
  • #205
  • Mar 20, 2010 5:48pm Mar 20, 2010 5:48pm
Assuming every sale was an affiliate sale....

FRWC needed to sell ~300 memberships to break even (prize money).

I suspect sales to be in the 2000-3000 range. Assume 50% refund rate (typical forex products) so 1000 to 1500, they're still in the black as far as I can tell.
  • #206
  • Mar 20, 2010 6:52pm Mar 20, 2010 6:52pm
Is that prize money even genuine? Is the comp even genuine? If it is, wouldn't FXCM have paid the prize money?

Asking as I'm not too sure at all (bad memory)
  • #207
  • Mar 20, 2010 7:23pm Mar 20, 2010 7:23pm
Yeah one of the FF members actually entered and was in the top 10. He got his $1000
  • #208
  • Mar 20, 2010 7:35pm Mar 20, 2010 7:35pm


Quoting erikte279
why are people still talking about this annoying bullshit robot. nobody is going to give perpetual wealth for a $1000, face it.
Annoying Precision
  • #209
  • Mar 21, 2010 6:05am Mar 21, 2010 6:05am
This is an FRWC thread which is why people are discussing that subject here. This is one thread out of the thousands of others where different subjects are being discussed. Surely the great thing about the forum is that there is room for everybody to talk about any forex related subject at all and anybody else who is interested can join them. I don't go on to the threads that I am not interested in and leave posts on there belittling the subject and participants for talking about things that I have decided aren't of interest to me.
Why would anybody be upset or care about whether people are talking about this or not?
  • #210
  • Mar 21, 2010 6:21am Mar 21, 2010 6:21am
Quoting erikte279
real...mature. congrats.
  • #211
  • Mar 21, 2010 6:25am Mar 21, 2010 6:25am
Quoting matthew11
This is an FRWC thread which is why people are discussing that subject here. This is one thread out of the thousands of others where different subjects are being discussed. Surely the great thing about the forum is that there is room for everybody to talk about any forex related subject at all and anybody else who is interested can join them. I don't go on to the threads that I am not interested in and leave posts on there belittling the subject and participants for talking about things that I have decided aren't of interest to me.
Why would anybody...
Because 90%+ of people are idiots my friend...what can we do eh?

Strange it is a similar percentage of people who fail in fx heh
  • #212
  • Mar 21, 2010 2:01pm Mar 21, 2010 2:01pm
Quoting Sim
real...mature. congrats.
Put that idiot on Ignore like I did several months ago. I don't know why the moderators haven't banned him permanently.
  • #213
  • Mar 21, 2010 3:13pm Mar 21, 2010 3:13pm
LMao.. strangely he was already on ignore I just had some random curiousity and a spare minute to see what he posted.. shouldn'ta bothered
  • #214
  • Mar 21, 2010 8:50pm Mar 21, 2010 8:50pm
Quoting Sim
LMao.. strangely he was already on ignore I just had some random curiousity and a spare minute to see what he posted.. shouldn'ta bothered

Kinda like driving past a car and not being able to resist a peek.
  • #215
  • Mar 21, 2010 9:39pm Mar 21, 2010 9:39pm
I find it "funny" that some experienced PROGRAMMERS would shed positive light on an EA by some company that promoted there scam product with Outrageous UNVERIFIED claims. real nice....whats your cut?
Annoying Precision
  • #216
  • Mar 21, 2010 9:56pm Mar 21, 2010 9:56pm
My comments may have been a bit harsh and in no way meant to belittle those that may have been beguiled into thinking that for a GRAND some company was going to give them perpetual wealth, maybe just something to ponder but worded a little arrogantly.

Point being, I've NEVER seen a BOXED EA consistently generate profits, not to say that it will never happen, albeit HIGHLY unlikely.

If it even generated 10% a month over 10 years there would be absoloutley NO reason for you to market it. If your smart enough to code one you would either use it yourself or sell it to a hedgefund, ect..
Annoying Precision
  • #217
  • Mar 21, 2010 10:05pm Mar 21, 2010 10:05pm
Would you buy used car without looking under the hood?

Would you buy an EA without 90% modeling quality and couple years of verified backtests?

Would someone with programming/ trading experience be so gleeful without proof?
Annoying Precision
  • #218
  • Mar 23, 2010 2:58am Mar 23, 2010 2:58am
Quoting Ipndasno
h**p://forum.mql4.com/26598/page6
Yesterday, I realized that their Market scope trading platform is the same as Deutsche. Assuming that DB is the original source. (fxcm)
Your assumption is incorrect. DBFX white labeled FXCM's Market Scope.
  • #219
  • Mar 24, 2010 5:52pm Mar 24, 2010 5:52pm
FYI, succesfully got my refund. Just took persistance and insistance. They will continue to use sales language to get you to stay, but just keep saying "No" and it will come through.
  • #220
  • Mar 25, 2010 12:48am Mar 25, 2010 12:48am
I am using the FRWC advanced settings and things looks good to me. I turned off volcano completely.

Also just started using hirider advanced. it made 10 profitable trades yesterday. looks promising
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