Can be Verified with an Investor Password!

Averages 10.87% Daily Return over the Same Period

[Update 02-24-2010: (this note is an amusing aside.) show

Artificial Intelligence and networked world markets have converged to produce a phenomenal opportunity.

Maybe you know what the Foreign Exchange Market (or Forex), is, and what Forex Robots (or Expert Advisers or EAs) are.  If you don’t, click “show” to unfold the introductory paragraph.

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In the vast sea of free and retail Forex robots,  there are pirates who will swindle you out of cash by claiming amazing results from their Robot, enticing you to buy it: but it may be that in fact the odds are against you obtaining the same results, or worse, the odds may favor terrible results.

These pirates may show you an internet-published Forex account statement (which would show open and closed Foreign Exchange trades, profit etc.), but with either part or all of the statement secretly removed, to avoid showing poor or losing trades.

I know two cases of such fraud, and I will name names.

1. “Forex Robot No Loss”. Details are at Forex Peace Army, the comment headed by “Eric, Florida”. You should ignore the robot creator’s reply because he is extremely hateful and foul (never mind his fraud).
2. USDBOT, as described at 4xproject. They do not notify buyers the robot sold is an entirely different robot than what is advertised (never mind the robot they do sell could be quite risky).

Such horrors aside, there is a way to be sure a published Forex account statement is true and accurate.

If you are provided an investor password, account number, and server information, you can connect to a Demo or Live Forex trading account in read-only mode. Read-only mode means you can view all trading information, but can’t place trades or otherwise manipulate the account.  But the data comes direct from the brokerage account. It can be like visiting Aladdin’s Cave without being allowed to touch a thing.

I personally use FAPTurbo, IvyBot, MegaDroid, and Forex AutoPilot, all of which work very well, all of which I recommend.  But how do you verify their sellers’ account statements?

At this writing I know of only one robot seller who provides an investor password, to verify the robot’s singularly and astonishingly good track record.  This seller is Forex Robot World Cup, and the robot is named Fusion.

I’ve obtained and used the investor password for the live account which Fusion is trading.  I’ve saved a more detailed report from that investigation here (for example it shows an equity curve graphic).  Also, I ran the figures to find Fusion’s average daily return over the statement period, which you can download here.  You can manipulate the Open Office source spreadsheet (link to file) to find the daily average for any statement.

Fusion shows better potential than any robot I’ve ever seen, with conservative, effective money management.  These past two days it has outperformed all other robots I’ve used this month combined.

But should you trust what I say without verifying anything yourself?

I don’t publish my own live account statements (maybe eventually I will).  A live account statement best shows potential, but a demo account statement is also good.  You can get my investor passwords, and learn how to use them, by submitting your email in the box at the upper-right of this blog, or by clicking here. [Update: for reasons other posts get at, those test accounts are down.  I will open new ones with statements, and notify the list when I do.]

You can also use the investor password for any robot provided by the Forex Robot World Cup, to verify live trading account statements before letting any robot trade your own Demo or Live account.

If you start live trading, I recommend the broker I AM FX, for their very low spreads and fast quotes. [Update 2010-03-25: my cautions about I AM FX and the Forex market in general are here.]  I also wholeheartedly recommend the Fusion robot, which is available here.