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The web is now full of commercial expert advisors, most of them are scam, and a very few of them worth its cost!
If you need to have one you may get confused as every expert advisor author tells that he owns the best and the only real profitable one in the world, this may be true, but you can not depend on those marketing expressions unless you confirmed that by your self!
A few steps can be followed to ensure that you will pay for what you really need and not for some thing unsatisfying for you:
- Never buy a Forex Robot not providing a refund policy.
- Newly launched Forex robots a better than older widely used ones, as the more a Forex robot is being used by many customers, the more the market moves against the positions it performs.
- Backtests for the Forex robot are very important rating item, it can give an idea about how its performance could be in the past even before its launch date, performing a backtest for a Forex robot by yourself is a complicated process, but there are websites publishing such backtests for different Forex robots like: Forex Robots Review , but the backtests alone aren't enough to rate a Forex robot.
- Live performance, where you can watch the Forex robot running live on a metatrader account which could be a demo or a real one, real account live performance for a Forex robot is more truthful than if it was running on a demo account, many review systems are also providing such live performance preview which are myfxbook verified, Forex Robots Review is one of them.
- You should preview the comments and the opinions of the previous Forex robot users on its performance and if it really made profits for them or not, more over you need to assure that it's not an imitated one for another real original Forex robot.
- If you decided to buy a Forex robot, you should try it first on a demo account and watch its performance before using it on a real one.
Edited by user
| Reason: Not specified
I always find some interesting indicators in fresh adviser shop. There are paid and free indicators there, but I didn't buy anything yet. I try only free ones))
Expert advisors should be found with caution as there are many scamsters in the market! 😰
Until now I'm still more comfortable with manual trading, using a forex robot really stimulates our adrenaline.
How Do Brokers Protect Themselves?
So how does a forex broker protects himself when he lends out money to a trader? Well, first the money in the trader's account
acts as security. If the trades go at a loss, the trade will only run up to the extent where the amount in the account is depleted.
That means even though you can trade on $5,000 by depositing only $100 and taking on leverage of 50:1, the broker will issue a margin call if your losses get to the $100 mark.
A margin call is a request by the broker for you to deposit more funds. If you fail to do so, the trade will automatically exit and you will use your margin amount which in this case would be $100.
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