Does fxarbitrageRobot work?
Please could you tell me if you have come across fxarbitrageRobot, and if so DOES IT WORK? I have spent several hours searching for reviews and most-including forexarmy.com and babypips.com, both seem to suggest that it is a SCAM. However the THEORY of arbitraging the DIFFERENCE between different Brokers spreads Definitely sounds PLAUSIBLE and I am sure a Good programmer COULD produce this type of EA. Any info on this would be MUCH appreciated.
Thank you for your VERY INFORMATIVE website!
Hi Tony, thanks for your inquiry about fxarbitrageRobot. I remember when it came out a few years ago if my memory serves me right? After it's initial launch I did not hear any more about it. I think it was a huge promotion at the time?
Or it may have been a robot with a similar name?
Sorry I cannot shed any more light on the robot. But one thing that I would suggest is that if such a "loop hole" was found in the forex market, then the big corporations would take advantage of the situation and maximize it to such an extent that it would no longer work indefinently into the future. It may have worked for "a time" but these sort of "loop holes" would get closed as everyone would want to get a piece of the action and those that do get too greedy to keep it sustainable and hidden forever. Or it may work in theory but cannot be applied to a real live market situation with price execution and order fills at the right rates.
That's my two cents worth on the logic behind it. But I could be wrong?