The number of people who trade using automated trading tools in Forex today is increasing worldwide. Automated trading tools range from free to expensive. However, in recent years, there have been a lot of bad guys selling too expensive automated trading tools. It sells with the slogan that the winning percentage is 99% or more, the absolute win is possible, and the monthly profit is 50% or more. Most of the companies sell with an emphasis on added value, but do you know that it is essentially the same whether it is free or expensive? This time, it is an article that calls attention.
What is Forex automated trading tool?
Forex automatic trading tool is a tool to automatically perform Forex trading. It trades automatically without human intervention. Previously, Forex had only discretionary trading, but more and more people are selling programmed software, and it has come to be called the Forex automated trading tool. The automated trading tool allows you to trade freely 24 hours a day, so you can earn money by leaving it alone. However, if the logic of the program is in the market, you can win 100%, but it is known that there is a high probability that it will fail if a strong trend occurs.
High-value Forex automatic trading tool
In recent years, the number of companies selling automated trading tools at high prices has increased rapidly. Be sure not to believe it as it will always emphasize the following added values. In addition, the FX automatic trading tool is available for free in the first place. It’s not like spending a lot of money to buy.
| Promotional content | Actual situation |
| You can definitely win | Forex automated trading tools can exceed 99% win rate. But whenever a single intense trend occurs, you lose all your principal. |
| High monthly Benefit | The monthly profit of the Forex automated trading tool is about 5% for the low one and about 50% for the high one, but the one that boasts the high monthly interest has a high probability of bankruptcy because it is a gambling trade. In other words, the higher the monthly profit, the higher the failure rate. |
| Emphasize backtest results | It often emphasizes past win rates on Forex trading tools. However, the market price in the future may not be exactly the same as the past chart. |
| Even beginners can win immediately | Forex automated trading tools can be won immediately even by beginners. However, if there is a big market movement, it will definitely go bankrupt. |
| High reproducibility | Forex automated trading tools can win if the logic of the program and the movement of the market match. However, if there is a big market movement, it will definitely go bankrupt. |
Forex automatic trading tool fraud
After the person who actually bought the automatic trading tool started operation, troubles never cease. We recommend that you do not buy it in the first place because the following examples are occurring.
| Case study | Contents |
| You can’t withdraw | Although it was able to make a profit by actually operating it, I often have troubles that I cannot withdraw money. |
| Lost contact | After purchasing the Forex automated trading tool, it is a pattern that the trader escapes without notifying the actual operation procedure. In this case, you will not be contacted again. |
| Have a designated vendor open an account | A fraudster colludes with a specific financial institution to open an account, and there is a high probability that the withdrawal will be refused and the money will be escaped. |
| It can’t accept the cooling-off period | Cooling-off is the right to unconditionally cancel the contract for 8 days after the contract is signed. Malicious scammers don’t even respond to cooling off. |
Forex automatic trading is low return, high risk
As a prerequisite, Forex automated trading tools are low return and high risk. Due to the low monthly interest, it requires a lot of principal. However, even if the winning percentage exceeds 99%, the entire amount will disappear with just one trend. Please understand this and consider whether to buy or sell automatically. Also, never buy expensive tools, if at all. There is a high probability that you will be scammed.
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