PRODUCT NAME: Forex Robot
RATING: 5/10
Trading in Forex is something that you can consider profitable if you are able to understand how the market works. Traders consider investing on Forex because of the possibility of higher return of profits. However, the market is often taken advantage by many Forex brokers to scam others. It gives them the opportunity to leverage on the desire of others to enjoy higher ROI for their investment. While scammers in Forex trading are now caught by regulatory organizations they still find ways how to become more discreet in scamming people out of their money. They are now using the Forex robot as another means of enticing people to make their investment earn money while they sleep. Before you fall for this enticing trap you should ask is Forex Robot a scam?
Forex Robot Review
Forex Robot is software that is designed to do the trading for you even while you are sleeping. This is offered by Forex traders claiming it can help you improve your chances of earning from your trading investment anytime of the day without the hassles of needing to understand how the system works. Being automated it will do all the work for you. All you need is to capitalize on your investment and let the robot do the job of trading. Forex Robots usually represents as Expert Advisors wherein its program is designed to work in an automated mode to trade in Forex. It works like an auto pilot where it continuously works overtime to wait for the best time to trade your money.
What Is Forex Robot?
There was a lot of hypes about Forex robots being a scam. While there are many forms of fraudulent activities involving Forex traders one of the current trend is on using automated trading for Forex which is quite enticing since its ability to trade even while you sleep is being marketed as having the potential profit without you doing much work. Many brokers these days are offering automated trading in Forex and they support the legitimacy of the program with the tremendous profit you can potentially earn which tends to be very attractive to many traders. Many feels they can calmly trade with the help of the robot however they end up losing significantly on their trades later on. One downside about Forex Robot is it is only good as how its program is created. It only works within a limited realm of knowledge as far as its creator can help it predict. But the market is always influenced by different factors that are considered unpredictable. And these factors are not considered by the software once it is already trading. The creator of the robot usually relies on disclaimer in the use of its program once you experience losses, which could be avoidable had you relied to someone else who can actually analyze the market influencing factors that the robot cannot detect.
PROS
The Forex robot is programmed to trade at any time of the day and night. Because it is automated you will have the chance to trade and potentially make profits even while you sleep. You no longer have to rely on brokers since there are now online Forex robots which software programs are available for purchase online.
CONS
Forex robots are not that intelligent as what brokers backing its credibility claim it to be. It only takes into consideration the mathematical algorithms without considering other factors like the market conditions that are highly affected by political issues, the weather and such other factors that need rational analysis as it happens in terms of its effect of trading outcomes. Because the trading market is inconsistent, fluid and constantly influenced by various factors it is clearly impossible for a robot to be able to consider these as its trades. It is rational to assume therefore that Forex robots are inflexible and are likely to depend only on the programs to which it is designed and cannot consider other factors that are constantly changing and affecting the trading flows. Hence, the results of automated trading in Forex using a computer program is inconsistent and not highly reliable.
My Final Opinion of Forex Robot
Are you going to rely on robot to trade for you? I don’t think so unless it is alright to spend your hard earned money over something you know has limited capacity to really play the game with analysis capacity beyond its program can do. The Forex market is very volatile hence you need something more than a robot with limited program to analyze varying factors that can influence the outcome of your trading. But if you ask is Forex robot a scam? it is quite difficult to say it is 100%. Partially the claims that it can help you trade with good profits is true but this is only good as when its prediction suites the factors affecting the market flow that is within its program.
