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Forex Bot Pro Review: Possibly a Scam

Forex Bot Pro Review: Possibly a Scam

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Forex Bot Pro is a suspicious robot for trading the Forex market. It is free to use and can allegedly make lots of money for you if you trade with it consistently. The reason why we think this website is suspicious is because they are making certain claims which they have not been able to verify. One of them is that Forex Bot Pro is fully regulated by European regulators and that client funds will be kept in tier 1 European banks. Of course these claims are not true because they can’t be verified.

Also, we do not know why such a trading robot can be offered for free. There must be a catch to it. If you have been wondering, read this Forex Bot Pro review to find out.

Forex Bot Pro Review

Are we saying that Forex Bot Pro is a scam? Possibly it is a scam based on a number of things that we have already considered.

The website of Forex Bot Pro claims that this robot produces high returns and uses advanced risk management technology to protect client investment. Perhaps it would have been helpful if the owner of this site actually demonstrated how these things work in a video. We would have appreciated a visual demonstration of this software as opposed to just texts which can be hard to verify.

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The site also suggests that Forex Bot Pro is being used by millions of traders out there. This is not true. If it were true, we would have probably know about this software long ago. Word would have spread like bush fire.

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In as much as this trading software trades Forex currencies, it is not profitable. That is how we see it. Unlike many expert advisors that we have reviewed here, this software appears to resemble popular binary options robots.

We are very right when we say that Forex Bot Pro is the same software that was used in True Profit, FX Pro Bot and Crypto Coins Bot.

Although Forex Bot Pro does not allow you to test it before funding your account, we already know that this software comes with a demo account which merchants can activate to convince you. This fake demo account can be misleading because it produces fake results. Such results cannot be achieved if you ever traded a live market with this software.

Forex Bot Pro website claims that this software can let you target your profits and at the same time risk as little as $5. This possibly means that we are dealing with a binary options software since Forex trading robots don’t usually work this way. There are many elements of this software that resemble those of a binary options robot.

Also, we have engaged real users of Forex Bot Pro robot. They all confess that this is a money losing software. It has been around for quite some time now. It’s the reason why many traders are losing money. Scammers just keep re-branding the same app and selling it as new.

This software is not regulated

The fact of the matter is that Forex Bot Pro is a product of investment advice. That is why a broker has been integrated into this website so that you can also deposit some money and start using the software all in the same interface.

In other words, this software needs to be regulated. Unfortunately, it’s not. This means that it is illegal to promote such a trading robot on the internet.

But you see, Forex Bot Pro website is lying that their product is regulated by European regulators. This is far from the truth. They are lying and misleading.

Also, it is not true that Forex Bot Pro will send you to a regulated broker. We have already established that this website is working with unregulated brokers such as MaxCFD and Ashford Investments. Those brokers will steal your money. They are notorious for mishandling traders and even stealing money from their clients. Avoid them at all cost.

The truth that this website does not want you to know

The aim is to make you trade with a certain broker under their referral link. When you sign up through them, they make money in form of commissions paid to them by the broker. This is not necessarily a bad thing. However, it is crime to mislead traders using false information just to have them signing up with a broker.

At this point in time, we can’t express any confidence on this website’s offers. They are clearly hell-bent with the idea of making money off your ignorance.

They have not been able to demonstrate the working of this software. They did not publish their trading history for at least one month. We are therefore not able to verify whether this software can truly perform as alleged on the website.

Other things that this website promises – are they of any value?

Among the things that this website promises is that they will send you market updates and market insights frequently. These things are only useful to traders who perform fundamental analysis. We do not believe that they are relevant to traders who use robots.

The issue here is that Forex Bot Pro is trying to distract you with these things as added advantages for using their robot. However, the truth is that these ”advantages” are actually of no use to the subscriber of this software. Even if they send you market updates, you will have lost money with this software anyway. It trades based on a bunch of indicators that were integrated into its algorithm. That is why you are essentially gambling with money if you decide to use this robot.

Our best advice for you

Although they are claiming that this is a Forex trading robot, we doubt if this is true. Also, since we have not seen trading performance for this robot, we can comfortably conclude that the robot does not perform as expected. Stick to the usual trading robots instead as recommended here.

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