Today I’m looking at an EA being referred to as a generation of profit system, Spider Bot EA. The system is produced by Alex Tanuka, the CEO of Forex Pacific Inc. Alex is consistently releasing new trading systems to the market, and I’ve reviewed every single one of them. So, I have an inside track on what to expect from this product, and a developed opinion on what Alex needs to do moving forward.
The location of the Forex Pacific Inc. offices is Singapore, but we do not have a full address to report. As for support, traders can email email@example.com. It is important to specify which product you are emailing about since Alex is using the same support email for all systems. For our list of Forex EA ratings click here.
Forex Spider Bot Review
According to the sales page, this is “the most demanded and long-awaited product ever!” The Forex Spider Bot is built to wave a profit net like a spider by utilizing a stable and reliable algorithm. Alex promises that traders can start making money in 5-10 minutes with a system that’s been developed to suit the needs of their clients. It’s built to win 88% of it’s trades, and is suitable for traders that want to start with as little as $300.
The software is 100% automated with a 3-term algorithm technology (that isn’t explained) and includes easy hedging control. The software can be used on any Metatrader4 platform with 24/5 market monitoring and self-correction.
- Type: Forex Robot
- Price: $89
- Strategy: Undisclosed
- Timeframe: M30
- Pairs: EURUSD, USDCHF
Despite reviewing every single one of the systems Alex releases, he never seems to take the advice given myself the Forex Robot Nation readers. I constantly demand that he provides a more transparent, and longer form account for his EA’s transactions. This advice is never taken, and it is constantly the one issue that I have with the releases, and it’s a major issue.
Here are some of the past reviews I’ve written for Alex Tanuka products.
FX Spider Bot Trading Results
As I mentioned in the last section, I have a major issue with Tanuka’s results practices. Instead of providing, MT4live, or Myfxbook accounts, he provides short glimpses into how the EA trades over a month, and gives us screen shot images as proof. Just take a look at this image here.
We can see here that Alex provides us with a 24 hour account of Forex Spider Bot’s activities. This is not even close to a large enough sample size for us to deal with. Then, we are given a one month statement from April 27th 2017, to May 28th 2017. Again, this is not enough data for us to really determine if this is a profitable strategy for not.
This next segment shows a one week period where the software made 4 trades and won $1648. Yet, while this may seem impressive to some, it isn’t adequate in 2017. Other systems are being tested for months, even years, showing every single trade being placed.
The results are simply not up to par.
I don’t want to totally discredit Alex and his Forex Spider Bot so I’m going to give this product a 3 star review. However, I have made these requests of Alex for some time, and if he continues to just release screen shots, I will have to start providing 1-2 star rating moving forward. So Alex, if you are reading this, please try and give us verified results with myfxbook.
Thanks for reading, and leave your comments/impressions now.