Investors seeking an automated trading robot or trading signals, will find hundreds of apps and software available. We have reviewed many of these products, in our quest to find the holy grail of trading.
When we tried to find a Forex robot that works, it is safe to say that 99%, do not work. Most of them ended up being no more than a “Get Rich Quick Scam”. You can read review of more than one hundred Forex robots below.
What Should You Do?
If you are interested in automated trading with a robot, then you should find one that’s connected with a licensed broker.
Don’t Lose Your Money! Only Invest with a Legit Regulated Broker, Read more…
Everyday we receive emails from investors looking for information about brokers we never heard of before. Upon further investigation, we see that many brokers are not licensed.
The list of trading software’s grows longer and longer each day, but many products are just new names for an old software.
There are hundreds of Forex robots available online. The problem is finding a legitimate trading robot, and not falling for one of the many “Get Rich Quick” scam systems.
Here is what you need to do, to properly compare automated trading software.
What Are The REAL Results?
Many robot providers like to claim they have trading results with 90% accuracy.
The truth is, 90% results may rarely happen when the robot is on a winning streak, but a losing streak of only 40% success rates will wipe out your trading account quickly.
Different brokers offer different spreads (see here), and that effects the systems performance.
Choice of Forex Brokers
If you read the problems investors have on our broker complaints page, you will see that it is stupid to use a trading robot with an offshore / unlicensed broker.
Also, never deposit money into a brokerage account until you see the robot’s settings page.
Problems With Auto Trading Bots
The terms high frequency trading, algorithms, and automated trading are thrown around Wall Street like they are no big deal. When a Wall Street firm builds a trading system, it is designed by stock market analysts and then back tested to near perfection before it goes live.
The majority of Crypto & Forex robots give us no idea what the robot is programmed to do. For all we know, it could be just randomly generating trades.
Can You Customize the Robot?
You watched a video, or received an email. They told you to just open an account and the robot automatically trades for you. But where are the controls?
Can you pick which assets are traded? Can you choose where the signals come from? Did you know that different brokers have different returns?
Which Robot Do You Think Traders Choose?
This Robot That You Can Customize
or This Robot With No Options