Forex robot and Signal scams

Forex Robots and Signal Scams are the Commonest online.

Think about it, if this system actually works why would someone sell it for such a small penny when it can make a million dollars that quick.

But before we look at Forex Robots and signal scams, lets first take a recap on what a Forex robot is.

What is a Forex Robot?

Forex robot is an automated program on the computer, based on a set of Forex trading rules that will tell you when to buy or sell a certain currency pair at a time a signal appears.

As a trader you don’t have to sit or watch the charts all day to trade. It is all programmed in the software.

The robot knows when to place an order and can do all you can do because it just follows the given instructions.

For example an Expert Advisors (EAs). It runs automatically whether the user is there or not.

These robots are good when programmed well but remember we are talking about a machine.

These machines are not programmed to detect all the fundamental changes in the market.

They cannot adjust to any new changes that are likely to happen in the market  because they operate according to the program.

When not careful, this can cause you a big draw down because the market is highly unpredictable. The market changes every time that even within a blink of an eye which a robot cannot predict.

In addition, the Forex market is highly sensitive to economic fundamental changes and news of which you are not always sure of the outcome.

The Forex robots are programmed relying on the past events and technical which is not the only major influence in the dynamics that happen in the market.

Forex Robots Scams

Forex scammers commonly use these robots to scam people.

Am not against the Forex robots, am against the robot scams. So many are out there promising you exponential returns with little or no input.

What most of us forget is how reliable these robots can be and so we only get excited on making too much money without considering the how.

The Forex scams actually guarantee you that all your problems can vanish and your long-term dream will come true.

Think about it, if this system actually works why would someone sell it for such a small penny when it can make a million dollars that quick.

So Instead of spending your money to such scams, how about you add it to your account and trade it small until you earn your own experience to make your own robot.

As you plan to trade Forex, be aware that Forex scams actually exist and are hard to escape.

Be careful as you make your decisions. You may fall a culprit. Certainly, Free Forex Coach doesn’t want you to go through that.

So I bring to your attention that Forex robots are actually available and sold online. However, most of them are not what they appear to be.

Scams are everywhere and there is nothing like a get rich-quick scheme in Forex trading.

Take your time learn practice and earn your own experience before you choose to use the automated system.

Forex signals 

The Forex signal service is more less like a managed account and using a robot. The only difference is that the signal sellers tell you what to do and how to do it.

Professional traders come up with a set of rules and procedures.

They compile these trading signals and sell them to other traders who say they don’t have time to get to market charts to make analysis themselves .

Traders pay a subscription fee either weekly or monthly and keep receiving signals.

Here you don’t trade your own decisions; you just follow someone else’s.

You just follow what you are told to do and by the way you will never understand why it has to be that way or how they came up with it.

One major thing to note about signals, is to make sure the provider has trial signals for minimum a month. When the signal performances are good, then you could easily opt in.

But don’t pay for signals you have not tried on, just because an individual sent you an account statement with enormous profits.

Like we mentioned before, these scammers are good at their game, even the statements could just be forged to lure you!

 Signal scams

Most traders rely on sellers signals to earn from Forex. As a result, they are falling victims to signal selling scams. They mostly target new traders who are excited to make much without putting in a lot of time.

The signal selling scams come with testimonies of people who profited from them.

Also attach, statements of their experience.

They will promise to offer set up signals that will generate you profit 100% with less risk.

Moreover, they will give you entry and exit signals but not how they came up with the entry and exit points, all you do is follow.

The signal selling scams are all over social media platforms and online.

Make sure the provider has trial signals for minimum a month. When the signal performances are good, then you could easily opt in.

Always Think twice before you subscribe because most of them don’t actually perform as they say. They are Forex Robots and Signal Scams.

Now lets look at the Managed Accounts Scams