Automated Forex Trading Robot | Forex Robot Software

Richard asks…

Forex Robots – do they work?

I am new to forex and I want to get an automated robot that can work for me whilst I am at work. My intention is to get to a level whereby I can use this robot as my full time income. I see from a lot of the Robot’s available like Fapturbo, Monster Forex, Ivybot, etc they all promise great returns but I am very sceptical about the results they show. Can anyone help me in finding a well organised company that can point me in the right direction to enable me to start forex trading and more importantly making some extra money.

Thanking you in advance,

Russell

admin answers:

The Federal government warns there are a lot of Forex frauds out there, and these Forex robots appear to be one type of these scams. If these robots really worked, there would be scads of articles about them in the Wall Street Journal and other financial publications talking about them. When I do a web search, I can not find a single reputable news article encouraging the use of Forex robots. The link below is a Federal website warning you about Forex fraud.

There are a lot of people on the Internet claiming they have done very well using Forex robots. These appear to be of two types. One is the outright liars. You might meet a person called “Zboy227″ who says “I made a lot of money using ScamRobot2000, go to their website at ScamRobot .com/Zboy227.” The “/Zboy227″ tells the website that Zboy227 has referred you. If you buy the product, Zboy227 gets a commission. He is only lying to you to get a commission.

There is a lot of luck in Forex. Sometimes you will run into people on the web who have tried a robot for a few days and have had some beginner’s luck with it. They start bragging about how well they have done. Later, they start to lose money, but they rarely get back on the web and talk about how much money they lost. People like to brag about their successes, but rarely talk about their losses. The result is that much of the feedback about these Forex robots is positive.

I may point out that websites that sell Forex robots admit there are a lot of scams out there. Of course they claim the other guy’s robot is a scam, but their robot works. If you do a web search on the words “forex robot” and “scam” you will find a lot of sites saying their competitors are scams.

I will admit I have not personally tested every robot out there, and I can not prove they are all scams. But I would be very hesitant to spend a lot of money on a robot without clear proof it really works.

Mandy asks…

I’m purchasing FAP turbo for the known FOREX market?

I will be opening my account with $1000.00 with metatrader4 in the forex market, I’ve been doing my research and have found that FAP turbo is the automated “robot” I want to use to help with my trading.

What kind of results do you guys think I can get with starting with such a little account ( $1000.00 ) I’m not expecting to get rich quick at all, just start making money and eventually be my only source of income.

Thanks everyone

-Jose

admin answers:

Hi Jose,

They advertise a winning trade percentage of over 96%. There is no such thing as a trading system or robot that can sustain a 96% winning percentage over the long term.

Trading systems of this type usually show very short hypothetical track records that usually highlight the system’s best period of performance. The end result is that you are unlikely to experience the types of returns they advertise.

Also the risk/reward ratio of most Forex trading systems with 96% winning trades is a recipe for disaster.

I know that I may sound negative, but I write this in hopes of saving you and other people entering into the markets some time, money, and grief.

I hope that you will take your time and learn to trade Forex properly. It’s easy to start with a demo account without risking any actual capital initially.

Good luck to you in your trading.