Forex Robots Scam | How to Identify And Avoid Forex Scams 2021

 Forex Robots Scams

Did you ever hear about this? "It looks too good to be true." If you have anything in your brain, you're sure, right!?? To be honest, I was spurred on to write this short article by some of my new Facebook 'FX mates.' It’s unbelievable how many people are promising easy money by trading forex but believe me, forex is nothing like that. Forex robots or Expert Advisors (EAs) are programs that claim to automate Forex trades, making money while you’re doing nothing. And that ‘zillion percentage’ Forex robot system cost only $25 or $50. Hell yeah, that is simply not possible. 

I would not believe in this trading system if the same will cost $100,000! Why? Because, the forex market is providing so much daily liquidity, that returning $100,000 investment will be a piece of cake if that system works. But, although this scam is so obvious, there are millions of US dollars dropped into Forex robots every day. When I see all of this, it’s not surprising that 90% of ‘investors’ and retail traders lose money on forex. But, let’s be honest. People who ‘invest’ money like this are not investors, they are fools. There are so many reviews about this, trading tracks, performances, and nothing can be proven as profitable long term. I believe that sometimes could find a great performance from the system like this, short term of course, but that could be related more with luck, not with expertise. It’s enough for the market sentiment to be related to the program for a while, but you are all aware of the market sharp turnovers and how things changed overnight in this world.

Don’t trust this shit! I hope that none of the wise and serious Forex traders will be sucked into the dark side of trading with robots and promises of getting rich, while you are enjoying some exotic island beach, spending ‘earned’ money and doing nothing. Forex is not easy money! 

How To Identify And Avoid Forex Robots Scams?

A Forex robot is a trading program that uses algorithms, or lines of computer code, as technical signals to open and close trades. Not all Forex robots are scams. For example, Forex robots can be built using Expert Advisors (EAs) within the popular MetaTrader suite of trading platforms.

Searching online for a Forex robot scam list may help you to avoid some of the known scammers. There are a few other things to watch out for to avoid Forex robot scams you may come across:

1. Marketing Messages That Are Unrealistic. If the author of a Forex robot has to 'sell' you on the dream of what it could do for you, then it's unlikely they will have the results to back it up. After all, numbers don't lie, or do they?
2. Very High Percentage Growth Returns. There are some Forex robots that are advertising systems that yield over 4,000% return in just a few years. This may seem fantastic, but it's important to look at the statistics. The return could just be closed trades, the system may have open trades that if the stop losses were hit could wipe out any gains.
3. Undiversified Scalping Strategies. Many Forex robots employ a scalping system which means they trade for very small profits. This then shows a high win rate and can inflate the results in a supportive market condition. Yet, market conditions change, and if the system loses more per trade than it wins, it will only take a few losing trades to wipe out any accrued profit.
4. Using Unregulated Brokers. There are some Forex robots that show extremely good results using unregulated brokers no one has ever heard of. In this instance, the results might be good on their own interbank spreads but if you open an account with them your spreads and commissions will be wider, thereby eating into much of the profit.

At the end of the day, if you are considering using a Forex robot, then treat it like a business rather than an emotional decision. Start with an online search for a list of forex robot scams and then do your own due diligence.

Things to Consider When Choosing Your Forex Robot

There are a few things to think about when choosing a good forex robot, other than avoiding the scam products:

• Look out for a low drawdown rate. This is a measure of decline and reduction of capital, and although high drawdowns can mean higher gains, they can also cause an account to go broke.

• The best robots are thoroughly tested, against real tick data, variable spreads, and real slippage. This backtesting should be available for you to view before you purchase, and real-time data from third party sites like myfxbook can help inform you how the robot is performing today.

• Be wary of product reviews from unverified sources. The developers will only want to show positive reviews, and people who have lost money while using a particular robot will be likely to give it a bad review. Compare reviews from genuine users before investing.

• Use a demo account. Before deciding to use a robot, try it in a test environment first. This will allow you to see how it performs under test conditions – although, be aware that test conditions can not fully simulate a real trade situation. If the robot you are considering does not offer a demo or test version, it might be too risky to invest capital in it. During the demo, you can see what settings and parameters are used by the robot too, and get used to how it works.

• Make sure that you remember all robots will require some supervision. System failures, problems with internet signal and catastrophic loss can happen, so although these robots are designed to work autonomously, you will have to intervene at some point.

The most important thing to remember when choosing a product is that there are no guarantees when it comes to gains from forex and cryptocurrency trading. Products that guarantee financial gains without any form of money-back guarantee should be avoided; many of the most popular robots offer at least 60 days of trading and a full refund, which makes them seem less likely to be a scam.

Finding The Best Forex Robot for You

When it comes to choosing the best Forex EA robot I highly recommend you to use

1. FX Pattern Pro - This beginner-friendly pattern indicator is an EA that alerts users to the best times to buy and sell through alerts.

• The user-friendly interface makes it simple to see when the alerts have been sent, and the buy/sell signals do not repaint thanks to the unique algorithm.
• FX Pattern Pro is an all-inclusive solution that sends alerts through Telegram, so you can perform trades on the go.

See it for yourself, learn more, and access now:

>>Click Here To Learn More About FX Pattern Pro<<

2. PipLocker Master Forex System - Features ACCURATE and PROVEN built-in algorithms used by the TOP successful traders...YOU NEED TO SEE THIS NOW!

• The most accurate formulas that have been proven to generate pips. The creator has made it virtually "fool-proof”. It does everything, you just enter when it says BUY or SELL. That’s it.
• In addition, designed it to make the maximum amount of profit on smaller time frames. So you can expect to make 100+ pips on M30 and lower time frames All arrows do not repaint.
• Once it shows on the chart, it stays at the same spot and does not move. No need to worry about backtesting!

Top Features Of PipLocker Master Above All,

•      Very Accurate
•      Extremely Easy To Use
•      Works On All Time Frames
•      Works On All Pairs
•       Email Alerts
•       Mobile Alerts

See it for yourself, learn more, and access now:

>>Click Here To Learn More About PipLocker Master Forex System <<

Why Am I Recommending Them?

Because in this market there are Scammers more than trustworthy providers and most people lose hope of dreaming big earning big in this market because of scammers. So I want that without wasting much time take a look and see if it is right for you.