| A mistake many people make when comparing | | | | hard-earned money? |
| commercial robots available for purchase on the | | | | We are currently part-way through the first FRWC |
| Internet with the FRWC robots. These commercially | | | | competition and, as you may already know, 329 robots |
| available robots, have been designed to make money | | | | were submitted during the submission phase. |
| for their owners by selling them – the fact remains | | | | From those 329 submitted robots, only 24 qualified. |
| that 99% of them do not work in practice. On the | | | | Yes, 24 – that is not a typo. |
| other hand, the FRWC robots have been designed by | | | | Now, here is an interesting fact: we can certainly tell |
| NON-COMMERCIAL developers with purely one | | | | you that over 70% of the submitted robots were of |
| thought in mind: real, long-term, high performance | | | | similar or lesser quality than the ones you are used to |
| results on live, real money accounts. | | | | purchasing on-line! |
| Will the FRWC robots be available for purchase? | | | | Yes, there were also several robots that were good |
| Yes. After the two-month live (real money) trading | | | | but nevertheless did not qualify. The reason being, |
| phase ends on January 29th, 2010, we will be preparing | | | | good is not enough at the FRWC. |
| the winning EAs for sale. We plan to allow a very | | | | How did you qualify or disqualify robots in the |
| limited number of copies of the top ranked competing | | | | submission phase? Was the process based on your |
| robots to be available for purchase starting February | | | | opinion as to what is “good” and what is not? |
| 16th, 2010. | | | | The process of deciding which EAs qualified (or not) to |
| We absolutely insist on releasing a very limited number | | | | move on from phase #1 (submission phase) to phase |
| of copies into the market for the simple reason that | | | | #2 (live trading phase), was (and is for future FRWC |
| we believe in preserving the performance quality for all | | | | competitions) solely dictated by the FRWC’s rules |
| the EAs . We will NOT mass- sell the best EAs in the | | | | which can always be found on the rules page. Our |
| world. | | | | opinion as to what makes an EA good is irrelevant, it is |
| The FRWC was established not just to find the best | | | | objective rules, based on industry- accepted, |
| EAs in the world, but to also allow smart traders to | | | | professional trading standards and criteria which |
| benefit from them. But beyond all this: to preserve our | | | | dictate what is acceptable and what is not. |
| work, the EA developers’ efforts and buyers | | | | And, most importantly, the submission and qualification |
| interests. For these reasons, we will severely limit the | | | | rules have, and always will be, presented to FRWC |
| number of copies released to the market. | | | | EA developers before, during and after the sign-up |
| I want to buy one of the FRWC robots but cannot find | | | | process. |
| it for sale anywhere. Why? | | | | Full transparency throughout all stages of the |
| Each and every FRWC robot is a | | | | competition, from start to finish, is and always will be |
| NON-COMMERCIAL robot. This, of course, means | | | | what we are about. |
| that they are not being sold or distributed anywhere, | | | | Why are the FRWC robots trading on live, real money |
| either on-line or off-line. | | | | accounts and not on demo accounts? |
| All robots are the private creations of their respective | | | | Simply because “forward testing” (the technical |
| owners. | | | | term used for this type of trading) is worthless when |
| The purpose of the FRWC is to find NEW talent, the | | | | judging the performance of an EA. It is widely known |
| best of the best EA programmers. Over 95% of | | | | and accepted in the industry that prices, spreads, |
| these EA developers are not marketers and, | | | | spikes, fills, slippage, etc. is quite different on “real |
| therefore, you will not find their robots being sold | | | | money” live accounts compared to demo accounts. |
| anywhere. | | | | A robot can, and most of the time does, show a |
| Once the competition ends, all of the top-ranking | | | | profitable equity curve on a demo account but later, |
| FRWC robots will be available for purchase (for a | | | | when applied to a live account, the opposite happens. |
| limited time) through the Forex Robot World Cup | | | | The FRWC was established to find real money |
| organization. | | | | making robots that can be used on real, cash-funded |
| Why can’t I buy an FRWC robot before the | | | | accounts. |
| competition ends? | | | | Is the FRWC a Forex robot review website like so |
| Because the purpose of the FRWC competition is, first | | | | many others out there? |
| and foremost, to find the best FX robot in the world, | | | | No! The FRWC is NOT a Forex robot review site. We |
| and then allow people to trade it. | | | | are an organization that creates EA competitions for |
| You cannot award the title “the best EA in the | | | | Forex robots which are not being sold or distributed in |
| world” without each and every competing EA | | | | the market (non-commercial robots). Forex robot |
| passing through and completing every stage of the | | | | review sites, on the other hand, typically collect |
| competition. Remember – each stage has been | | | | commercial (available for purchase through 3rd party |
| created with a purpose in mind. | | | | websites) FX robots and track their performance. |
| Why is it that you do not accept commercial robots | | | | Why is the live, real money trading phase two months |
| (those being marketed on-line presently) into the | | | | and not just one month? |
| competition? | | | | Simply because one month of live trading is not |
| Simply because we believe that 99% of Forex robots | | | | enough to judge the true performance of a Forex |
| currently being marketed are out there because they | | | | robot. We are determined to eliminate luck as part of |
| sell well for those who market them, not because they | | | | the reason a robot won the competition. You must |
| are good robots. | | | | always remember that the main objective of the |
| As a Forex trader you have to separate truth from | | | | FRWC which is to find the “best of the best” |
| fantasy. The fantasy about most commercial, heavily | | | | EA in the world and all we do – all our efforts – |
| marketed FX robots is that they perform as | | | | are geared towards that. |
| advertised by the OWNERS of the product. However, | | | | How many Forex robots were submitted in the EA |
| the reality is that very rarely does anyone make | | | | submission phase? |
| money from these robots. | | | | There were 329 EAs submitted from 63 countries. |
| The FRWC’s objective is to allow EA developers | | | | How often are the live results/rankings updated and |
| to prove that their EA is the best without needing to | | | | where can I track them? |
| rely on marketing gimmicks. | | | | The results of the 24 live phase, real money, FRWC |
| Why are the FRWC’s EA qualification rules so | | | | competition robots are updated every 15 minutes and |
| demanding and tough? | | | | you can always track them by going to our results |
| Well… why not? Why would you expect less than | | | | page. |
| this when it comes to a robot that handles your real, | | | | |