The Forex Spider BOT is a forex Expert Advisor (EA) designed by the renowned Singaporean forex robot expert “Alex Tanuka”. The vendor claims that the robot made $15,559 in 4 weeks. It works best on the M30 timeframe and runs on the MT4 trading platform. Alex said that the robot took 9 months of testing before it was launched for sales to the public. It is optimized for the EURUSD and USDCHF currency pairs.
The Forex Spider BOT is sold at a discounted price at $89 along with a bonus; “Forex Miracle Indicator”. This is a special tool that gives visual signals on the charts. The bonus is worth $79. A countdown timer on the website shows that the offer will end in a few hours.
The important question is this: Can the Forex Spider BOT be trusted?
Forex Spider BOT: To Trust or Not to Trust?Even if we believe that the robot made so much money in the first four weeks, is that an indication that it will always make profits and no losses? Let us examine some of the negatives that we have discovered with this robot and its vendor. Some of these are:
- No Trading Results
- The developer’s Unconventional style
- Negative User Comments
Incomplete Trading Results
The trading results provided for the Forex Spider BOT is only for one month in which it supposedly made lots of profit. But, Alex claims that the robot was tested for nine months. So, we don’t know why he did not show the evidence of these tests. Besides, showing screenshots means nothing to traders. If he was serious, he should have provided verifiable Myfxbook account for this robot showing us the acclaimed profits.
However, we dug deeper and pulled out a user named “Forex Spider”. Incidentally, this user is using the Forex Spider Bot. The only Myfxbook record of this robot shows a modest 1.8% gain on a demo account, but the trading history of this user shows a trader being tossed around:
The Developer’s Bad Reputation
Alex Tanuka is not new to forex robots. He has been frequently developing robots and abandoning them without providing the promised support and updates. So, he has a bad reputation among forex traders. He uses similar web pages to promote his many robots. His website is always like that of affiliate marketers or eBook sellers trying to sell a product, offering limited discount and huge bonuses. Forex traders find this habit very annoying and unacceptable. The forex trading community prefers developers that will sell a robot, provide updates and support for at least a few years. But, that is not Alex Tanuka’s style, he has refused to listen to his product reviews. As a result of this notorious style, serious traders don’t consider Alex Tanuka as a good developer and so, they don’t bother testing his robots.
Zero User Comments
CONCLUSION: Forex Spider Bot is Not to Be Trusted
Alex Tanuka’s style of robot development is purely unprofessional and so, many traders avoid his products. Many forex traders classify him as a scammer who keeps churning out robots without proper testing, analysis, updates and support. Forex Spider BOT is no different from his other robots. There are no verifiable trade results over a considerable period of time. So, this robot cannot be trusted.