Its not a fake, however this is called an arbitrage trader. It takes advantage of the price quote differences between brokers. It requires a extremely fast connection to the market (not throughput but latency).
This is why some trades have time of 0 seconds. I know people are probably going to say that this is not true, but he has other systems on his profile where he states its an arbitrage system,
I do not follow the path of others, I create my own path and leave a trail behind me
I was just thinking the same thing coz if you look at the duration of most trades they are between 0 seconds and 10 seconds and if i remember correctly the least amount of time you can hold trade with most brokers is 3mins...still a good system though...probably needs to be tweeked a bit
EAs with this kind of trading style are useless in real conditions. They perform excellent on demo accounts, but why plays on demo if he has a REALLY working EA?!? MyFxBook should filter out EAs for fair contests...Men against robots. 0-1.
If its really arbitrage trading across brokers this should NEVER be allowed in a competition. For one almost all brokers have rules against this kind of trading live and will simply block withdrawal and even lock the account. I hope they have an investigation first for their own sake, before labeling it a 1st prize that is.
It might be something different tho because arbitrage trading would mean FXCM demo severs have slower incoming and outgoing data than his own source. So the guy either must have some extermely fast fiber-optic connection between his server and the exchanges, or slowing down FXCM servers on purpose (security breach). In that case this would be a statement and he;s not after the prize itself. However, arbitrage trading like this is done with a thousand of a second. Some of this trades are well over 5sec which makes it very doubtful he is using any of the above.
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