Forex Robot Review: Is SCAM?

Forex Robot Review: Is SCAM?

Most of the time, and even all the time, we blast fraudulent trading products on the web in a bid to save our readers from unnecessary financial losses. So today we are introducing a new trading product which we have researched and found to be viable and capable of making money for both the average and expert trader. The product in question is called Forex Robot.

After researching this website thoroughly and even getting an opportunity to give it a ride, we’ve come to the conclusion that this is a viable product for your long term trading goals.

Forex Robot has caught our attention because of its flexibility and profit potential. The developer has done a commendable job by letting users choose to use default settings or their own. This is a good opportunity to experiment and find out what works for you.

Forex Robot is basically a Forex/Crypto-currency trading system. It trades Forex pairs in addition to crypto-currencies like Bitcoin, Dash, Ethereum etc.

Crypto-currency is definitely big news right now. In fact, this trend has actually contributed to the heightened volatility that is being witnessed in the various crypto-currencies that people trade on the internet.

So your best plan of action would be to utilize a trading system like Forex Robot to trade them. You will definitely have an edge here because Forex Robot generally affords you flexibility, dynamism and cutting-edge trading tools which go along way into ensuring that your trades are profitable and convenient to call.

Forex Robot Review

Here’s what we need you to know about this product

Trading does not have to be difficult, and losses don’t have to surpass your trading balance.

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Some people have argued that to be successful, one needs to raise a big amount of capital. The question is, why would you break the bank when you can turn a small sum of $250 into $1,000 or more in a matter of days?

You see, if the settings that you are using for this product is giving you an edge, then it definitely means that no matter how small your trading balance is, you could build it over time until that account is significantly bigger than when you started. You are winning more trades compared to those which you are losing. If you have a decent strike rate, say 8 out of 10 or even 7 out of 10, you will definitely grow your account in the process.

Now, this is not a far-fetched dream and it’s not a too-good-to-be true statement. We are just being rational and analytical based on simple math.

With Forex Robot, you can invest as little as $250 and commit as little as $25 in one trade to make double the amount invested in that particular trade.

There is also mention of leverage on the Forex Robot website. One of the brokers whom they work with (MAXCFD) is providing leverage of 300:1. Now, we know that leverage is generally not needed in Binary options trading, except when trading Forex pairs.

On the website, they have stated that Forex Robot has teamed up with brokers who use a CFD to trade the underlying Forex pairs and cryto-currency instruments. According to the definition of a CFD, we learn that this is a leveraged “derivative” financial product. So there is a possibility that some of the instruments used by these brokers are possibly leveraged. We just needed to clarify on this matter to avoid confusion later on.

Forex Robot website has a range of settings, how do you use them?

forex robot settings

Generally, the robot which you intend to use here can and should be configured with the right settings to make it functional and profitable.

Speaking of indicators, the website states very clearly that these are the usual indicators which everyday traders use in the market.

We are talking of trend, CCI, RSI, Williams, MACD and Stoch indicators.

Forex Robot can be configured using the trend indicator to help it detect and open trades based on the dominant trend. Commodity Channel Index (CCI) is a measurement of a given average after a certain length of time. When combined with the trend indicator, your Forex Robot will get closer to being more precise with every position it opens.

The RSI Indicator is basically market logic. It is sometimes called the people’s system because it tracks the action of those who move the market. It’s by no accident that Forex Robot opted to include it too. When prices are high above the roof, people sell. When prices are low, people buy. You can combine it with the Trend and CCI indicators to get the best results.

Stoch basically tracks speed and momentum. Sometimes you want to identify whether the trend that is forming is viable and sustainable or not. If this is the case, you can use the in-built STOCH indicator to help you determine how to enter trades based on these factors.

And of course the Moving Average Convergence Divergence is just plotting of two averages, taking historic data into consideration. When these two moving averages cross each other, you know where to buy and sell respectively.

Finally, the Williams Indicator is a simplified version of the RSI because it focuses on overbought and oversold regions.

How do you manage your portfolio with Forex Robot?

forex robot money management strategies

Forex Robot is set in such a way that users can utilize the classic system of trading to manage risk. It’s called the classic system because risks that come with this style of trading is very minimal. Profits too are minimal.

The Martingale system is also possible with the Forex Robot system. In this scenario, quicker profits can be achieved because position sizing is doubled with subsequent future trades. In as much as you can make more money with this style of trading in a short time, you can lose more money with it too. Use extreme caution and a little bit of common sense here.

And of course the Forex Robot website lets you use the popular Fibonacci trading system. In this trading style, ForexRobot will calculate your trading size based on your history of wins/losses. It’s the most accurate method of trading.

Please keep in mind that one can combine all the settings above to capitalize on the ability of this system to win trades.

But when it comes to money management, you will have to be a little bit thorough and more careful, because honestly, you are responsible for controlling your greed, not the owners of Forex Robot.

A web-based trading system

After you sign up, you do not have to download anything because this system is web-based. That’s convenient for those who don’t want to litter their PCs/Mobile devices with applications that only restrain storage.

As for the broker that you will be using, this website has stated that you will automatically be redirected to the right brokerage firm on the internet. This depends with the availability of partner brokers in your specific country. You can chat with them on their site about this.

Our best advice for you

The ball is in your court now. Forex Robot is a decent product by all standards. Just in case you were waiting to read this review till the end so that you can sign up, here’s the link.

We are looking forward to hearing your success stories. We are confident that this product will definitely make your trading a lot more fun if used properly.

One Reply to “Forex Robot Review: Is SCAM?”

  1. forex robot seem like a good web trader to invest money in. everything is done for you. All you have to do is invest and wait for money to flow in, it as a great success rate it seem. with any trading investment you will lose some and gain some. you just have to know when to not be greedy cause thats when you’ll lose it all.

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