Forex Robots Factory (FRF) is a small and ambitious project as it claims that its mission is to provide you, the Forex trader, with all the tools and information you need to succeed in your trading and avoid being scammed. It also claims to perform live analysis on EAs performances. While this is a nice idea I somewhat doubt that the execution is what it should be.
The site claims that it tracks the live performance of 39 robots. Clicking on each of the robots shows you a "Live trading account statement (updated hourly)" on an Alpari UK account as well as a Strategy Tester report which says its demo for some reason. On each EA's page you can find some basic statistics such as charts that shows total profit/loss per period, percent of winning traders, profit/loss ratio and an equity curve.
There are two potential problems here however:
1. The site operates as an affiliate for each and every EA. Meaning that for a trader who clicks the Visit the Site link on each EA page and ends up buying the EA site's owners receive a portion of the sales commission. Not an unusual model but an optimal one either.
2. I find it hard to believe that FRF's owners risked almost $400,000 of their own money in order to test out these EAs. Each EA's account statement shows a $10,000 initial deposit. The problem is that while there are EAs that seem to have made some money there are other EAs that seems to have lost over 30%.
Another problem, but unrelated to FRF, is that results very much vary from broker to broker - all depends on the spread, Slippage , re-quotes (if MM not ECN), decimal pricing and much more.
Whatever is the case FRF's design is quite attractive and it lays down the information in a very user friendly interface. Current leader seems to be an EA called NightFox with 120% profit in less than 4 months.
