We just reviewed the new Black Box Robot, that works with a variety of legal Forex brokers and here is what we found. The Black Box Robot makes trading Forex automatically very simple, for people with only basic knowledge of the financial markets.
As you can see in the screenshot below, the trading robot is very easy to configure and setup. It is one of the best Forex robots on the market today!
Black Box Robot Review
One of the greatest features of the software, is that it allows you to use reverse trading. Investors who have used other trading robots for Forex know that a losing streak is very possible. When you see that the software is not generating accurate trading signals, you can enable reverse trade and start profiting.
Although many robots will trade across all asset classed, the black box robot only trades currency pairs. You can enable which one of the 16 forex pairs you want it to trade for you.
A negative aspect of using any Forex robot, is that we do not know the algorithm which creates the trade signals. So we are left to come the various Forex robots, based on what risk management features they offer us.
The main features offered by the Black Box Robot are:
- Licensed Brokers (24option and Opteck)
- Reverse Trading
- Strategy Types: RSI, Bollinger, Fibonacci & Price Action
- Sixteen Currency Pairs
- Daily Stop Loss / Take Profits
- Control Daily Trading Volume
Scam Trading Robots
We are constantly emailed by various companies offering “exclusive” trading apps and systems for Forex. The scam with those systems are that you have no control of anything. When you sign up, the only features they give you is an ON/OFF button.
Another problem with the fake robots are that they only work with unlicensed brokers who are really frauds operating in offshore locations with fake addresses.
The good thing about Black Box Robot, is that number one you can select which broker you want to use, and they only are connected with brokers that have a license. If you want to understand the way to find a good Forex broker, then read this.
Black Box Robot Results
Actual results of the trading robot vary depending on the way you configure the software. If you choose one trade strategy, one underlying asset, and reverse trade it, your results will be different than someone who enabled everything.
Any trading robot that advertising that their software has an 80%, 90% or 100% win rate, is simply lying. There is no such thing as that in the real world of investing and trading.
The beauty of using a software like BlackBox with multiple brokers, is that you can configure the software at one broker to follow the signals, and at another broker to reverse trade the signals. The minimum deposit at most brokers start at $250 per account.