June 2024

Forex Robot Scams

If there are people who are normally swindled money by brokers online then they are traders. One big disadvantage is that most of them have fraudulently robbed traders and are never caught after disappearing with their clients’ money.

We have heard of these scams each and every moment as they come and go and even though the regulatory bodies are doing their best, some of these brokers tend to go underground and later on appear registered as new brokers in the market. Even though such activities have been happening for a period now, the latest Forex Scam that is hitting the world is Forex Robot.

Forex Robot

Who would not want an automated system where all your online trading is done as you sleep? With a world where everything is done by software’s, most people are falling into the trap of Forex Robots to have an automated system where all the trading is done online as they sleep.

Forex robots have been getting a lot of attention lately in the market with most Forex brokers offering their account holders a chance to operate or use forex robots for their trades. Most traders normally find themselves in a situation where the systems create an impression that they are making a lot of profits only to be left really broke at the end of the day. The systems create an impression of a long term success history but it can only achieve something in a very short period.

Forex robots are huge scams if not watched properly because they work just the same way as their creators who have a mind of minting money from traders and are not after helping the traders to make any amount of money.

The creators of such systems are always looking for easy and quick ways that they can use to make lots of money. For the Forex market, one has to watch out for the changes that are taking place in order to make a prediction but these creators never factor or put that into consideration hence making a system that will fail eventually or in a very short period .

It is also worth noting that some of the companies that produce Forex robots rely on some disclaimer that will keep them out of trouble because they have promised results that they cannot achieve but in real sense though results cannot be met in the long term period.

As a trader, you should be aware that Forex robots operate based on some algorithms and not considering the conditions that affect the market, the political conditions and issues to do with weather conditions. With such inconsistencies in the market, how would a robot deliver very consistent results? That alone is a pointer that such inconsistencies or conditions affecting the market would make the Forex robot inconsistent rather than consistent.

It is easy to spot some of these Forex robots but most people are yet to get lessons from such fraudulent means of getting money. Someone promises you huge profits within a very short period of time and that is where most of the traders fall into prey.

The Online Forex Robots

Many of these online Forex robots are normally sold online with an affirmative of you earning money and getting rich quickly as you sleep but all these normally lead to Forex robot scams. The way some of these robots work is that you may have a system that has been making profits for the past two weeks but cannot last. It is indeed true that you may see trading for two past weeks as its record but it will not last for a long period since they are scams.

90% of traders who purchase and use the robots always lose their money and it is important for the trader to thoroughly have a check on the program before it goes live so as to ascertain if it’s a fake system or not. A good vendor should be able to advise you not to trade online until you fully understand how the system works and you are thoroughly convinced that the system that you have is authentic.

Another good advice is that most Forex traders who have used robots in the past say that it is good for the trader to learn more about the EA program to the extent that they themselves are the once who operate the system and not the broker doing it on their behalf. This leaves the trader to handle all the money by himself and not the broker handling it in anyway. Such means will not lead to you as a trader earning profits but what will change is being robbed through Forex robot scams.

Even though there may be several Forex robot scams in the market today, one thing that has to be pointed out is that traders must be very careful when choosing any kind of Forex robot and must seek advice from financial experts who will help in all the necessary action that needs to be undertaken.

Research reveal that those traders that normally lose their millions are people who never do adequate research on Forex trading hence land in the hands of brokers who are thirsty and want to make money in the shortest time possible. Forex robot scams are real and many have been led to such paths and it would be good to inform and educate others who trade online to be careful and watchful.

It is also good to seek financial and legal advice before you decide to enter into such territories because not every broker that is out there is genuine and is pushing for you to make millions. In any case you fall into such traps that deal with Forex scams then it would be better to contact Phoenix Advisors Group and be sure that they will handle or examine your case and also offer you expert advice.

Forex robots scams are the next scams that will make people lose all their money and end up being bankrupt.


Forex robot scams should be exposed. Please don’t fall prey to such forex robot scams.


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