A common way that people invest in Forex now, is with a Forex robot. There are hundreds of robots and automated trading software that you can find online, and naturally many of them are scams.
A big problem with most Forex robots, has to do with the brokers that they work with. If the software company who made the robot allows it to connect with an unlicensed broker, then you can be sure the product is not a real Forex robot. Be sure to review all the licensed Forex brokers with active and valid broker licenses, see here.
What are Forex Robots?
The basis of a robot or trading software starts with trading signals. Trading signals are generated by algorithm software, which analyzes the markets for trading opportunities. Usually the algorithm software will have a variety of technical indicators which it looks for to generate a trade idea.
Trade ideas are then automatically transferred into an order ticket on your account and submitted to your broker.
Depending on which Forex robot you decide to use, will depend on the trading signals it is using. Many robots let you choose which technical indicators you want to receive signals for. The more options available for you to configure, the better the software is.
Popular Forex Trading Robots
The robots listed below are connected with a variety of brokers and they are among the most popular software in use today by traders.
The software allow you to control your risk levels, the forex pairs it trades, and you can enable “reverse trading” the trade signals.
Free demo at: FXMasterBot.com.
100% Accuracy & Great Results
It is very important to understand that there is no such thing as perfect trading signals, and there does not exist a Forex robot with consistent positive results. No matter what the man in the video told you!
A Forex robot that does not give you the ability to adjust the settings, it guaranteed to be a scam robot. If you are using a real robot which lets you configure the settings, and choose the strategy and assets, then no two people will see the same results.
When using an automated trading robot, the most important thing to do is constantly monitor its performance. Hundreds of factors are at play when trading the financial markets. An accurate signal, which produced a profitable result on the $EUR/USD pair, may not continue to generate more profitable ideas that day / week.