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What are the Characteristics of Fraudulent Trading Robots?

Suba

Suba

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Trading robots are software that can carry out forex trading activities automatically. Lack of education about trading robots means that many novice traders are trapped and lose money. Fake trading robots always guarantee fixed profits every month. Fake trading robots can only be used by certain brokers and traders cannot use them on trusted brokers. I also often find that the spread rates for buying and selling forex are very different. Do you have other opinions or experiences, please share them as discussion material.
 
Kirubel said:
Personally i don't like to try those trading bots, they are programed by others and i don't think they have good accuracy and and if one little problem have with the programing we could lose all our moneys.
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You're so right, they're another group of fraudsters who use Al bots to lure people to thread with them as brokers but they're mostly liars. It's hard to find legit trading sites.
 
Starmix said:
You're so right, they're another group of fraudsters who use Al bots to lure people to thread with them as brokers but they're mostly liars. It's hard to find legit trading sites.
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Yeah, it is very hard to find legit trading bot and those legit trading bots have extremely high price, i rather trad my self then using a trading bot, and those very rich traders also don't use bots to trade.
 
Kirubel said:
Yeah, it is very hard to find legit trading bot and those legit trading bots have extremely high price, i rather trad my self then using a trading bot, and those very rich traders also don't use bots to trade.
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In my country it will be very easy to find legit trading bots, because they have permission from the government (Bappebti), of course the price will be more expensive than fake trading bots.
 
Suba said:
In my country it will be very easy to find legit trading bots, because they have permission from the government (Bappebti), of course the price will be more expensive than fake trading bots.
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That is good finding legit one is one thing, but are they accurate and how is the wining and losing ration, i mean does they most times get good trading.
 
Kirubel said:
That is good finding legit one is one thing, but are they accurate and how is the wining and losing ration, i mean does they most times get good trading.
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Unfortunately trading bots are only able to use technical analysis, so their analysis is often unreliable, with a win/loss ratio of 6:4 but sometimes the amount of money lost is greater. Use trading bots only for experience, not to rely on them for every transaction.
 
Suba said:
Unfortunately trading bots are only able to use technical analysis, so their analysis is often unreliable, with a win/loss ratio of 6:4 but sometimes the amount of money lost is greater. Use trading bots only for experience, not to rely on them for every transaction.
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Oh wow, i will never try it, i am more safe trading with my own, i can use the stop lose option to decrease my lost and minimize losing all my money.
 
Suba said:
Trading robots are like we have a girlfriend who is very beautiful, friendly in front of us but has evil intentions to make us poor. Apart from that, fraudulent trading bots also do not have reviews from previous users.
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I agree with your contention, it's possible that we'll be cheated by fraud trading bots which are programmed and manipulated by experts.
 
Suba said:
Trading robots are like we have a girlfriend who is very beautiful, friendly in front of us but has evil intentions to make us poor. Apart from that, fraudulent trading bots also do not have reviews from previous users.
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Very true, even in a situation where there is a review, it would only be positive reviews without a single negative one just to lure people in.
 
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