Exert Caution With Forex Robots

Ivan Cavric Welland
By:  Ivan Cavric

If you are new to Forex trading and are planning to purchase a Forex robot then you must take care because when doing so you will be entering the world of the scammer. These individuals are normally failed Forex traders who have not managed to master the complexities of Forex. Consequently, you should realize that many of them have designed their robots by just coding their flawed Forex trading strategies. This is why you will discover that a staggering number of these products fail to live up to their market hype.

For instance, if you were to believe all statements contained in the advertisements for these Forex tools then you could conclude that all their buyers would now be very wealthy and retired. However, statistics and reality indicate a depressingly different pattern by showing that over 95% of these products fail. Even the better ones register profits for limited time only. A recent survey recorded the following information concerning the performance of Forex robots:

  • Five percent of these tools did not generate profits even for their designers.

  • Another ten percent produced profits but only on certain trading platforms and then for limited periods only.

  • Seventy percent achieved profits for periods up to 3 months.

  • Five percent managed to create profits for the designers only. 

  • Another ten percent achieved profits that were so small they were neutralized by broker charges.

You can conclude by analyzing the above list that most of the inventors of these products have no idea what they are doing. Scammers have particular difficulty overcoming the problems associated with optimization which is caused by Forex constantly generating new complex price formations. However, this difficulty still did not prevent them from releasing their defected tools onto the marketplace.

You could be surprised to discover that scammers are so misled that they even assert that their own customers are the main reason for the failure of their products. They make claims stating that their buyers should not expect that all their financial woes to vanish by simply purchasing a $100 Forex robot. However, such remarks overlook the fact that it is the scammers themselves who project this concept in their distasteful marketing literature. They are now even trying to overcome the optimization problems of their products by asking their clients to pay for update service which would enable the devices to be tuned into the latest Forex trading conditions.

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Location: Welland, ON, Canada

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