Forex, or in other words spells Foreign Exchange, it refers to trading currencies, for example, the Australian dollar against the Japanese yen. This is different from trading a companies stocks.
Forex Robot, also known as an Expert Advisor or EA. They make trading automatic, in other words, There is no need for human input. There are many expert advisors being pushed on consumers around the world. Though only the best survive. Though because the world and therefore the currency market is always changing, it’s hard to program a robot that will return positive results all through the year.
Forex Robots are tested on a software platform know commonly as MT4 or Meta Trader 4. They are often backtested for results. MT4 has the ability to go back in time and test the newly programmed robot to see how well it would have performed during a certain period. Prior to the release of a Forex Robot or Expert Advisor that they are tested on the live account for several weeks or even months.
The Forex Robot World Cup consists of 3 stages, submissions, live trading, and the competition end. More than 300 EA (expert advisor) programmers from all around the world submitted their EAs. 24 EAs were chosen according to the competition’s rules. Then all trading robots were placed on $ 1000 real live accounts funded by the FRWC.
All the trading statements can be seen live and updated every 15 minutes. The top 10 trading robots will be given away to one lucky winner. Although they will be available for purchase under the name of FRWC Royal Trader after the games. Currently, the top robot “LMD-Multicurrency” is up more than $ 2000 from a $ 1000 deposit.