Review of the FRWC (Forex Robot World Cup) Forex Robots.
FRWC offers 4 EA’s in their membership package.
| EA Name | Currency Pairs | Timeframe | Strategy | ECN | 4&5 Digits | Take Profit | Stop Loss | Home Page |
| FRWC Fusion 1.1a | EURUSD | M1 | 5 FRWC EA Strategies Combined | Yes | Yes | Dynamic | Dynamic | FRWC Website |
| FRWC HiRider | EURUSD | M5 | Scalper | Yes | Yes | 5-16 | 89-129 | FRWC Website |
| FRWC LMD MultiCurrency | USDJPY, USDCHF, AUDUSD, USDCAD, EURCHF, EURGBP, GBPUSD, EURUSD | D1 | Unknown | Yes | Yes | Dynamic | Dynamic | FRWC Website |
| FRWC SuperVolcano | GBPJPY | M1 | Volatility Scalper | Yes | Yes | Dynamic | Dynamic | FRWC Website |
Performance
FRWC Fusion 1.1a live test results
Default FRWC Fusion 1.1a Settings.
Update: Well it only took a few days but FRWC Fusion 1.1a has wiped it’s $1000 account. It now holds the record for fastest account blow up for us! Stay away from this one guys!
Update (April 10th 2010): Looks like there is a new FRWC Fusion 1.2 available. I may try it out on a new account with lower risk settings to see how it goes.
FRWC HiRider live test results
Default FRWC HiRider Settings.
FRWC LMD Multi Currency live test results
Default FRWC LMD Multi-Currency Settings.
FRWC Super Volcano live test results
Default FRWC Super Volcano default settings.
License
$999 For a FRWC membership. Each EA is tied to a .dll that connects to their server and checks your plimus code that you must input into each of the EA’s.
Strategy
FRWC HiRider Strategy
HiRider is a scalping EA for the EURUSD pair. The robot is a combination of 5 trading strategies which
can open maximum of 10 trades at any time. The first strategy uses 0.01 lots regardless of the MM
settings specified. The other 4 strategies follow the lot size proposed by the money management
system. The HiRider Scalper will buy or sell with a target of between 5 and 12 pips when the extreme of
a move is detected and a reversal is expected.
FRWC Fusion Strategy
he FRWC Fusion-V EA is a great synergy of some of the best performing robots from the contest:
LMD-MultiCurrency, HiRider, SuperVolcano, Neg-Correlation and Straasha
FRWC says that “When combined together, along with some improvements by the experienced FRWC team, they
produce really great results. For example, the Straasha EA did not perform well during the live trading
phase because of some minor bugs, but it has great potential which was used in the FRWC Fusion-V EA!”
I guess we will see how great these results really are.
FRWC LMD Currency Strategy
LMD trades several currency pairs. It does not use any indicators, which is a good sign. The main signal is
based on the open price of a Daily bar inside the channel defined by the High/Low of the last several
days. LMD places a large StopLoss and TakeProfit values, however, it normally closes trades without
reaching either level. You can also use the special feature called “EquityProfitCloseLimit” to close its
trades when a certain profit level is reached.
FRWC Super Volcano Strategy
The SuperVolcano EA waits until the volatility is very high, as measured by the Chaikin Volatility
Indicator. When the volatility is high and the price has gone up, it sells. Similarly, when the volatility is
high and the price has gone down, it buys. It uses the same conditions for closing the positions, thus the
EA is almost always in play.
Recommended Brokers
Any and all brokers. Try FXOpen or IamFX for great spreads and execution, perfect for EA trading.
Conclusion
After a bit of research, there seems to be a lot of mixed results and views about each of the FRWC EA’s. I will update this conclusion when I start getting some more test results.
FRWC Fusion – Stay away from this one! Fusion is an account blower upper.
Overall Rating
The 30 day trading statement is a stalling tactic. They fought like heck to not refund my money. I did get my money back. That is the only good thing I can say about them. The robots were losers for me
FRWC is the scandale of 2010…. no excuses at all after all the PR Hype.
why, the truth is always hard to swollow…I had to swollow their incompetence.
FRWC Fusion really crashed and burned then? How long did it take to wipe out $1000?
They wiped my test account in 24 hours. Luckily I had a cracked version still it was $99 wasted .Biggest marketing con ever getting that Dweeb to do the Video to say he programmed the winner. Going to Buy Pip Brains next that looks the real deal.
wooow fusion got smoked!! Thank god i never pulled the trigger on this one …
Well with FRWC Fusion down and out, LMD multi-currency is now in the negative, as well as Super Volcano although not by much. HiRider is slightly in profit but so far this package is not living up to the $999 dollar hype.
Just thought I would post a quick word or warning to anyone trying to get a refund on the FRWC EA’s, these guys seem to fight the refund request.
They require you to provide them with a 30 day trading statement either on a live or demo account, but what they refuse to answer is why? how does it benefit them?