I have been reading about the Forex World Cup which seems to me to be a great idea, in finding new talent and also finding out which robots perform the best in live trading but there are some aspects of the competition which bemuse me as they don't quite add up and there covered in this Forex World Cup Review.

I keep getting emails which tell me how well the Forex robots did that and the results presented, do indeed sound impressive for a two month period and they apparently made the following gains:

1. LMD Multi Currency 145.60%

2. Hirider 88.11%

3. Super Volcano 36.25%

The copy then goes on to say

"Account Statement Were Updated Every 15 Minutes (Publicly Accessible At Any Time 24/7)" but who updated them and is this really live trading in a trading account? Normally you would expect an audit of any track record, by a respectable outside source to PROVE the figures are correct but there not provided on this site. In fact if you scroll down to the bottom of the copy page, you see a disclaimer which is printed below, it's a standard CFTC one for simulated ( not real time ) track records:

“Hypothetical performance results have many inherent limitations, some of which are described below. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown. In fact, there are frequently sharp differences between hypothetical performance results and the actual results subsequently achieved by any particular trading program. One of the limitations of hypothetical performance results is that they are generally prepared with the benefit of hindsight. In addition, hypothetical trading does not involve financial risk, and no hypothetical trading record can completely account for the impact of financial risk in actual trading. For example, the ability to withstand losses or to adhere to a particular trading program in spite of trading losses are material points which can also adversely affect trading results. There are numerous other factors related to the markets in general or to the implementation of any specific trading program which cannot be fully accounted for in the preparation of hypothetical performance results and all of which can adversely affect actual trading results”

So if these are real money track records, this would seem at odds with the statements earlier and it would be interesting to know what the Forex World Cup's definition of “live trading” actually means. You can also read on and in the small print and find this statement:

“The Forex Robot World Cup (FRWC) is neither licensed nor regulated in any country and we cannot give investment advice on any matter. If you are unsure about anything on this website, please seek independent financial advice”.

When you read on you actually realize that perhaps the figures are not as they seem, as we get claims like:

“You can easily nail 2,000% profit per year (or MORE) as long as the FX robot you are using adheres to industry standards like the FRWC robots”.

Now the world's super traders can't even do this consistently and there paid hundreds of millions in salaries so to say you can “easily nail” these profits is ludicrous. If these people were traders ( which I suspect they are not) they would know how hard trading actually is and that the statement is laughable and no one who has traded would ever make such a claim not even the super traders like George Soros or Warren Buffet could get anywhere near these figures and we doubt anyone who buys these robots will either.

This site appears to be one which is trying to claim that the robots have made real money in the market but the fact there is no audit and you have a disclaimer which is to do with simulations, means that the “Live trading” which the Forex World Cup claim are real dollar profits made in a trading account are not. I don't know what their definition of live is.

This site doesn't add up to me and neither do the claims, of easy money with no effort. It really looks like a site which will get a lot of naïve and greedy investors interested but think I will pass the opportunity to make 2,000% per year by and that's the end of the Forex World Cup Review.