ForexRobot Review
InvestingOnline.com
24/10/2017, 16:30Information About ForexRobot
Trading in Forex has become huge!
Knowing how time consuming it can be trying to follow signals and make accurate trades, professional Forex traders developed this trading robot to act in accordance with you, the trader’s normal trading procedures.
ForexRobot is a free system. The money you invest is all yours to allow ForexRobot to trade and make profits for you.
There is no download required to use ForexRobot as it is completely browser based.
Also, once you create an account with ForexRobot, you can test it by using the free demo account. By doing so, you can find the settings that work best in your Forex/CFD trading style.
How ForexRobot Works
Unlike many other automatic trading systems, you have control over the trades ForexRobot makes.
After creating an account and choosing a compatible broker, you simply enter the settings that the system will adhere to before making any trades on your behalf.
The settings include:
Trading system – Choose between the safe Classic system, the fast profit Martingale system or the accurate Fibonacci system.
Assets – You choose from the list of currency pairs the ones ForexRobot can trade on.
Indicators – You choose 1 or more trading indicators ForexRobot will follow. They include CCI, Trend, Stoch, RSI, MACD and Williams. If you choose more than 1, they all must agree or no trade will be made.
Trade amount – You choose your trade amounts.
Simultaneous trades – You choose how many simultaneous trades the Robot can make.
As you can see, ForexRobot follows your strategy.
When you set ForexRobot to automatic, if you would happen to lose internet connection, the Robot will stop trading activities until you give it permission to start again.
ForexRobot Compatible Brokers
ForexRobot is affiliated with many top rated Forex/CFD brokers.
You will have to set up a new account with a broker to use ForexRobot even if you already have an account.
The brokers currently compatible with ForexRobot are:
- Greenfields Capital
- and MAX CFD
All deposits and withdrawals are made directly with the broker you choose.
I suggest that you check out reviews of each broker and their terms and conditions to find the broker best fit for your needs.
How To Sign Up With ForexRobot
Creating an account with ForexRobot is actually quite easy.
Just click the join button.
Choose which compatible broker you want. Keep in mind that some brokers do not work with some countries, so they will not be in the list of available brokers if they don’t operate in your country.
Enter your first and last name.
Enter your email. You will want to check your spam folder upon confirmation just in case.
Enter your telephone number including the area code.
Enter a password. Make sure it is a strong password. I suggest you use at least 1 upper case, 1 or more numbers and 1 special character. This will keep anyone from hacking your ForexRobot account.
That is all there is to it. To start trading with real money, you will then be directed to deposit funds into your broker account. Once you do that, you can adjust your settings, click auto trade and let the Robot start making profits for you.
ForexRobot Pros
ForexRobot has many pros.
- No downloading
- ForexRobot is free
- Trades made for you while you work on other responsibilities
- Free demo account so you can get adapted
- Your choice of settings
- Trading shuts down if you lose internet
ForexRobot Cons
The only con I could find at this point is the short list of brokers. Since ForexRobot is new, there will surely be more brokers coming aboard soon.
Summary
I have researched many automatic trading systems. Most of the ones I have looked into do not have any means for the investor to control the methods the robot uses in making trades. They just tell you they use special algorithms and I find many traders quite unhappy with the results.
Many of the other robots promise results that seem too good to be true.
I opened a demo account at ForexRobot just to see my results. I was pleasantly surprised. After 3 hours of trading I had an 87% win rate. I was wishing I would have used my own money.
I strongly recommend ForexRobot. Find your broker and deposit funds. Pick your settings and turn the system to auto trade. Check back in 1 or 2 hours and I believe you will have a smile on your face.
