What is Automated Trading?
Automated Trading Software is used mostly by Forex traders & investors, who want to make money in the market, with the help of an automated trading system or robot. There are many types of automated trading; Social Trading, Algorithmic Trading, Copy & Follow Trading, and Automated Robots.
Along with all new technology comes the scam artists and frauds. You may have seen a video which speaks about a new innovative and secret software which has made people thousands of dollars, and they are offering “limited time access”. Sadly, those systems are all scams, which work in cooperation with fraudulent binary options and Forex brokers.
Brokers with Automated Trading Software
All brokers today are now offering investors some sort of automated trading system.
AVAtrade is a very large Forex CFD broker who offers real automated trading with Robox & Mirror Trader made by Tradency. Both systems are extremely advanced, and made for investors who have the time to study and research to various pre-made portfolios, see here.
eToro which is the largest social trading broker. Their platform is used by investors who want to find a good trader, so that they can follow trade. If you want to invest in whats called an algorithmic portfolio, you would need to select their Copy Funds product.
The Best Trading Robots
Many people just like you, come visit the Scam Broker Investigator and ask us for “The Best Trading Robot That Makes Money”. The reality is that such a software does not exist!
Every few weeks a new software opens, goes viral on various news websites, and at the end proves to be a scam with many victims.
Here are the questions you must ask before using an automated trading robot:
- Does the software work with licensed brokers?
- Can I customize the robot to my personal preferences?
- Are historical trading results actually?
Forex, Binary Options, Stocks or Bitcoin
Real automated trading systems are based on an algorithm developed and back-tested, for a specific asset or asset class. When a hedge fund creates a new trading algorithm for example, it is only used on one currency pair, or on a basket of individual stocks.
A highly profitable algorithm is rarely transferable to another asset. In other words, just because it was profitable trading the Euro, does not mean it will also work for the Yen.
If you take a look at the software called FX MasterBot, you will see it was made to only trade 16 Forex pairs. Forex pair primarily trade based on technical indicators. A scam software like Fintech Ltd doesn’t show you what it is going to do with your money.
Recently we reviewed an automated trading software going by the name CryptoTrader. We investigated further, and saw that it is really a binary options robot, which claimed to be trading on Bitcoin.