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In this review, we will be looking at one of Alex Tanuka’s many Forex trading robots known as Forex Spider Bot. Indeed the domain Forexspiderbot.com presents a lot of information about this product. But most of it is shallow We felt as if the author was just skimming through the content without going into great detail in describing why customers should purchase Forex Spider Bot.
Alex Tanuka runs a company known as Forex Pacific Inc, and has been actively releasing new trading systems into the marketplace.
The location of this company is Singapore, although no full address was provided to help us identify the exact location of the company.
Alex has also included a support email as a means through which prospective users can reach him. However, he uses the same email address for all his products. It’s therefore important that those who inquire about his products must specify which products they are talking about in their email messages.
According to Alex, Forex Spider Bot is the most demanded and awaited for expert advisor. He says that this Forex robot was built with a stable and reliable algorithm which waves a profit net like a spider.
He also states that this automated system is so easy to get started with. Customers only need to set it up in 5 minutes so they can start making money immediately.
Forex Spider Bot is also designed with the user in mind. According to the author, this robot will suit the needs of every client as it trades with a strike rate of 88% and can be used with whatever account size. Traders can start with as low as $200.
However, Alex did not clarify what they meant by saying that this robot had a 3-term algorithm technology. On top of that, they never elaborated what they meant by saying that Forex Spider Bot has a feature called easy hedging control.
Monitoring and self-correction are a hallmark of this trading system.This is according to the developer who seems to be very comfortable making one claim after the other without being bothered to prove their statements.
The Forex Spider Bot relies on the M30 time frame to trade the Forex market. It focuses on two pairs, the EURUSD and the USDCHF.
The price of obtaining a license is $89. At the same time, the website where Forex Spider Bot is hosted at is giving out this trading system literally for free because a 50% discount is always in place.
Yes, we mean that each time you open this website, you will always get an alert message telling you how time is limited, and that the offer will expire a few hours from then.
On top of selling this product for $44 a copy (when the 50% discount is factored in), customers are also promised a free trading system dubbed the Forex Magic Indicator.
We have come to learn that this is Alex’s way of marketing. You can prove it yourself by visiting the site now and later on to see if the offer is still on.
In our opinion, the Forex Spider Bot is the cheapest expert advisor that we have ever reviewed in this blog.
Do you find it ridiculous that a robot that costs almost nothing can change your life? If the author really means that they dedicated their time and effort into creating a revolutionary trading system, do you believe that they could sell it that cheap or worse still, give it out for free? That’s the million dollar question that we shall be answering in the next section of this review.
We do have major issues with the way Tanuka is presenting trading results. Instead of giving us a link back to their myfxbook account for verification purposes, Tanuka just figured that short glimpses of the robot’s alleged trading (in screenshots here and there) would perform the role of a fully functional myfxbook account.
During this presentation, Alex claims that it is not unusual for this robot to turn in a profit of $15,556 a month.
One of the screenshots on the sales page purported that this robot took 26 trades on the EURUSD and made a profit of $7,820.50. It won 25 out of 26 trades. But we know that such a high win rate is not possible to achieve on a consistent basis.
On the same screenshot, Alex alleged that Forex Spider Bot opened 22 trades and won 21 of them. This would have been impressive only if those results were verified and valid.
But you see, the problem with Tanuka is that he is just showing us screenshots of supposed trading performance. There is no real verifiable trading performance results to prove that what Tanuka is portraying in these screenshots is the absolute truth.
On the screenshot below, Alexa presented us with the alleged Forex Spider Bot’s activities in 24 hours. But as you can see, data that was collected over a period of 24 hours is a very small sample of information to deal with.
And then we are also given a one month account statement as ‘proof’ that this system uses a profitable trading strategy.
This period of trading fell between April 27th 2017 to May 28th 2017. Again, this screenshot doesn’t provide us with enough information to help us make a conclusive judgement on whether or not we are staring at a robot with a good trading potential.
In another segment of this website, we are shown a week’s trading performance where Forex Spider Bot allegedly opened 4 trades and made a profit of $1648. This sounds quite impressive. Unfortunately, it is not how we verify trading performance of robots in 2017.
Legitimate trading systems are being tested for months and even years while documenting every single trade activity that was placed in the Forex market.
These vendors never rely on screenshots to communicate their messages since screenshots are prone to cheating and manipulation.
In short, the results that Alex Tanuka is presenting to us are not at par. We needed more proof of performance to make us believe that this expert advisor is really good at its job.
While it sounds good to imagine that this robot can make $15,000 profit in a month, it is highly discouraging to see that Alexa is not making his presentation based on facts. He is instead relying on mere allegations as a means of validating this product.
Alex is only being a good salesman. In our opinion, Alex as a person, doesn’t believe that they are selling a truly efficient and unique trading system. You can take this to the bank.
It is disturbing that Alex Tanuka is still relying on screenshots to show trading results while his counterparts are doing so using verified myfxbook accounts.
While we are not after discrediting his work entirely, we still feel that rating this product with a 2 star is a big favor. The truth is: Forex Spider Bot does not have real, verifiable trading performance to make purchase decisions based on. So we are not going to recommend it for now. Instead, we will just ask our readers to choose these trading systems.
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OMG! thanks a lot for sharing the truth about this forex spider bot. they only rely on screenshots because those are prone to cheating. they must show us more proof of performance to make us believe.. unfortunately i saw this article after I lost my money
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