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.
Offshore brokers use many tricks to convince investors that they are safe, read more here.
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?
Look at the many options available to investors using the Algo Signals App.
Which Robot Do You Think Traders Choose?
This Robot That You Can Customize
or This Robot With No Options
We constantly get letters from visitors to ScamBroker.com that look like this:
Thank you so much for explaining how Crypto Forex robots work, and how the scams rip you off.
Please do your part and share this information with your friends! Also, be sure to read about the Best Trading Signals.