The foreign exchange market has gone a long way from its humble roots some 30 years ago. Today’s traders are using the best technology, the best trading tools, and high speed internet connections to battle in the world’s largest market. Some trading tools offered today are excellent, they provide true value to the user and generate profits. Others, however, such as the many forex auto bots for sale today, are downright scams.
Why Most Forex Robots Aren’t Worth Their Salt
Automated trading exists, automated profits exist, but you’ll never, ever, find a quality system priced in the $xx or $xxx range. Simply put, automated foreign exchange robots that derive results for the trader are worth one hundred or even one thousand times the price you find online. Think about it this way, if you pay $150 for an automated trading system, that is only 15 pips in profit. Now why do you think a programmer would sell a successful strategy for just 15 pips?
If You Made The System, Would You Sell It?
Ask yourself, if you had a trading system that worked, that really worked and produced high quality results, would you sell it? Chances are, if you did sell it, you wouldn’t sell it online nor would you sell it for $147. You see, today’s institutional traders who work at trading firms and investment banks automate many of their systems. In return, they get huge bonuses each year for producing results. Even many traders who are newly signed to a firm make $500,000-$1 Million per year with their automated system, and it is THEIRS TO KEEP. They have no competition!
Don’t Believe the Hype
An automated “holy grail” has been claimed by traders and programmers alike, over and over again. If you could truly produce tens of thousands of dollars per month, every month, without risk, we would all have purchased FAP turbo for $147 and we’d all be living the high life. Sorry, it is simply impractical.
Money Back Guarantees Mean Nothing
Granted, as a company and a seller, many of the automated trading robot companies are legitimate. Many more of them offer 90 day money back guarantees, and if during that time the forex bot does not work for you, you’ll get your money back. However, this does not give them credibility, no, it allows them to merely feed on the people too lazy or too forgetful to complete the process of getting their money back. Look, if you have the discipline to go through the process, and get your money back, go for it and try out the system. Chances are, however, that after a few days you’ll forget you even bought the system and be out $147 for what amounts to bits and bytes on your computer.
[...] foreign currency scams include automated trading programs. These programs, which are sold online directly to consumers, are almost always a downright scam. [...]