Forex Robot EA developer tells the shocking truth about trading with robots. Watch This BEFORE You Buy Any Trading Bot!
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- Fraudsters are exploiting public interest in artificial intelligence (AI) to tout automated trading algorithms, trade signal strategies, and crypto-asset trading schemes that promise unreasonably high or guaranteed returns. Don’t believe the scammers. AI technology can’t predict the future or sudden market changes.
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Nov 1, 2023 · To avoid falling victim to forex trading robot scams, it’s crucial to do your research and be aware of the warning signs. Here are some red flags to watch out for: 1. Unrealistic profit claims: If a forex trading robot promises astronomical profits with little to no risk, it’s likely a scam.
- Back in The Day: The Point-Spread Scam
- The Signal-Seller Scam
- "Robot" Scamming in Today’S Market
- Other Factors to Consider
- The Bottom Line
An old point-spread forex scam was based on computer manipulation of bid-ask spreads. The point spread between the bid and ask basically reflects the commission of a back-and-forth transaction processed through a broker. These spreads typically differ between currency pairs. The scam occurs when dishonest brokers artificially increase the bid-ask s...
A popular modern-day scam is perpetuated by the so-called signal sellers. Signal sellers are retail firms, pooled asset managers, managed account companies, or individual traders that offer a system—for a daily, weekly, or monthly fee—that claims to identify favorable times to buy or sell a currency pairbased on professional recommendations. Such c...
A persistent scam, old and new, presents itself in various kinds of automated forex trading systems. The scammers tout their system’s ability to consistently generate money with automatic trades that require little to no human input. The trading systems are often referred to as “robots” or “bots” and are offered for a one-time or recurring fee. Man...
High-priced trading systems and services:Many trading systems are quite costly, and the high price tag of up to several thousand dollars may itself be the biggest red flag. Be especially careful of system sellers who offer programs at exorbitant prices justified by a guarantee of phenomenal results. Instead, look for reasonably priced sellers whose...
While regulatory changes over the years have driven out many shady dealers and legitimized the system for honest operators, it is still advisable to perform your own due diligence. When choosing a broker, consider checking if it is a member of NFA’s Background Affiliation Status Information Center (BASIC). If you’re interested in a trading service,...
- Basia Hellwig
Feb 24, 2024 · In this article, we explore how scammers use these systems as a ruse to lure unwary individuals and get a hold of their money. Learn how to distinguish between genuine and fake trading systems, how to detect if your broker is offering real AI trading, and how to act if you’re a victim.
Jan 25, 2024 · Fraudsters are exploiting public interest in artificial intelligence (AI) to tout automated trading algorithms, trade signal strategies, and crypto-asset trading schemes that promise unreasonably high or guaranteed returns. Don’t believe the scammers.
Oct 16, 2023 · These automated trading systems promise to execute trades on your behalf, eliminating the need for human intervention. While there are legitimate forex robots that can help traders achieve consistent profits, there is also a dark side to this industry – forex robot scams.
Oct 22, 2019 · In this article, we’ll be looking at how robot trading software works, why you should be wary of forex robots scams, and how to spot and avoid them. What is robot trading software? Robot trading is an automated trading system based on algorithms, which allow investors to set out their own ‘rules’ for entering and exiting a position.
Home. Learn. Scams. Top 3 Forex Scams and How to Avoid Them. By Stefan. Every day, unsuspecting traders fall prey to investment scams. Familiarise yourself with their deceptive practices, and arm yourself with the knowledge to identify red flags. Scam #1: Fraudulent Finfluencers.
