The Forex Robot World Cup looks likely to be THE forex event of the year. Those of you who have followed me for a while will know that I am very cynical when it comes to forex robot vendors and their claims - basically most of their outlandish, declared results are absolute hogwash and yet we still want to believe them!
One exception of late has been forex megadroid. I have a lot of members of my forex mentor site who use this robot & say it works. Nothing like the 2000% a year rubbish the owners claim, BUT it works. I have just bought that one and we have a robot fan testing it here on the forum at the moment.
However, what if we had the opportunity to see a number of robots in action over a period of time, on real money,"live" accounts. Know that they are being independently audited. Trust that the results are legitimate? Now I am intrigued. Thats what the Forex Robot World Cup is about.
Sponsored by FXCM there is a prize of $100.000 for the best performing robot from the 329 that were entered and began trading on the 1st December 2009 to the 31st January 2010. At the moment the first place robot, LMD- Multicurrency has gained 211.36% which is awesome BUT the middle figure (34.06%) is the draw down which is scary
LMD-Multicurrency Deposit $1,000.00 Draw Down 34.06% PROFIT 211.36% $2113.62
The second place one, the HI Rider looks far more interesting to me, but then I am ultra cautious when it comes to forex trading. But to grow an account on autopilot by 83% in two months is simply incredible. Imagine no more studying charts & spending hours in front of the screen. Forex Heaven
HiRIDER Deposit $1,000.00 Draw Down 3.26% PROFIT 83.42% $834.21
The aim of the competition is to to find the best FX robot in the world, and then allow people to trade it. If you would like to follow the competition results in real time & find out more CLICK HERE. I said earlier this could be THE forex event of the year. Jay & Julie have a lot more experience with Forex Robots than me. I have asked them to do a detailed summary of the competition & give us their opinion of the competitors. Marc