Social Trader Tools Review Is This A Legit Forex Robot

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Forex Robot Scams

*Last updated in January 2020*

When it comes to investing, there are endless ways to scam a trader. Many brokers manage to get away with their fraudulent activities for a period of time. Then they are either ‘caught’ by a regulatory organization or they succeed in absconding with their clients’ funds, never to be seen again.

Broker scams come and go. Some move underground only to pop up again at a later date. There are always unethical brokers looking for schemes to fool investors and it takes only a few big deals to make the whole endeavor worthwhile.

Scams must be done in a clever, convincing manner. They must also be convenient for the trader. The easier it is for the trader to seemingly make money, the more a fraud will succeed. The latest entry into the Forex scam market is the Forex robot, which is a perfect example of promises of easy money. Forex Robots are all about making money while you sleep which makes them a prime area for fraudulent activity. Forex robot scams are only now beginning to be uncovered but not everyone concurs that Forex robots are scams to begin with.

Thankfully, there are more and more websites rating Forex traders and their systems. You can make more educated decisions after reading reviews and checking with experienced Forex experts. At the very least, one should search for reviews before purchasing a Forex robot, no matter what claims are made about its success.

Forex Robots

Forex robots or Expert Advisors (EAs) are programs that claim to automate Forex trades. It’s like putting a plane on auto pilot. Traders can sleep through the night calmly knowing that their trades will be placed exactly at the times they designated. Sounds easy, right?

Forex robots are getting a lot of hype of late and Forex robot scams are not far behind. Almost every Forex broker currently offers its account holders the opportunity to use a Forex robot for their trades. They back up the legitimacy of these robots with tremendous profits and lull the trader into a false sense of security only to end up broke. These claims are usually based on a very narrow window where the particular product was successful and not on a long term use of the Forex robot.

A Forex robot can only be as smart as its creator. The creators of these systems are looking to make a quick large sum of money and are not looking at the fact that the most predictable thing about the Forex market is the changes you cannot predict without watching the changes carefully. Anyone who knows the Forex market well and understands it will recommend a live person with their own trading strategy and then and only then does it make sense to automate any of it.

The companies producing Forex robots often rely on very broad, small print disclaimers to keep them out of trouble for promising tremendous results when those results are unrealistic in the long term.

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The problem is that Forex robots are run based on automated mathematical algorithms, not taking into account things like market conditions that vary with political issues, weather and other factors. The inconsistency of the market is impossible to program into a robot, and therefore the results of Forex robots are inconsistent as well.

Most Forex robot scams are easy to pinpoint and would seem obvious to any investor. But even with blatant false promises of huge profits “while you sleep” millions of dollars are dropped into these Forex robot scams every day. Even those brokers that are successful exaggerate their numbers to attract new clients.

Online Forex Robot

One needn’t depend on the Forex broker for these robots because Forex robots are readily available for purchase online. Even Amazon.com sells the software package made available by one Forex company under the heading, “Make Money While You Sleep – Advanced Forex Auto Trading Robot.” Costs for a robot program hover around $1000 for the package so most traders opt to use the EA provided by the Forex broker. This is what leads so easily to Forex robot scams.

When you look at any two weeks of trading in the past that were profitable, and then make a profit claim based on those weeks, you are not lying to anyone. These Forex robots claim their profitability based on any given successful time period in their past when testing the product so they aren’t lying. Be very wary of hindsight claims in simulated conditions.

Since 99% of traders who purchase a robot end up asking for a refund, most experienced Forex traders recommend never purchasing one. Objective Forex traders suggest never putting a Forex robot on a live, real money Forex account until it has been tested thoroughly through a demo account. If the Forex vendor is genuine, then he should advise his traders NOT to use an EA until they fully understand what the robot is all about.

Getting a refund for the Forex robot sometimes will satisfy the customer but they have already lost in the market and wish they had never gotten involved with it in the first place.

Forex traders who have used robots in the past suggest that traders learn enough about the workings of the EA program so that they can place the trades themselves and not through a broker. This will provide them with a sense that they are in control of their money and are not leaving it in the hands of a broker. This may not lead to profits but it will eliminate the feeling of being taken in by a fraudulent Forex robot scam.

Vader Forex Robot

Generally, nothing that promises tremendous gains with very minimal investment will prove to be successful. Any experienced Forex trader will tell you that it takes real understanding, and changes based on that understanding to be successful in the Forex market and for that you need a human involved in the decision making process. A carefully chosen Forex robot, monitored by an educated Forex trader can help to automate the trading and reduce time spent which saves money in the long run. If you and your Forex trader do the research then Forex Robots can be a positive thing. It can be a benefit to eliminate the emotional aspect of trading if you don’t eliminate the intelligence. Beware of any arrangement that does not involve careful research by experts and remember that it is not only the cost of the Forex robot at stake; your trading capital is as well.

Video: Scams in Forex Trading Script:

“Welcome to DailyForex. Today we are going to be looking at, Forex scams, and so called, Forex robots.

Scams in the Forex market! Forex robots!

If you type into Google in the search engine, “Forex robot” there will be hundreds of pages, a lot of companies trying to scam people in the Forex market. You know they are killing enthusiasm. People that want to come and invest or trade in the Forex market aren’t interested, they are killing their enthusiasm because people will get burned by these so called Forex robots that are being sold. They are promising “x” amount of gains that you will “make this while you are sleeping”. Essentially, put your trades on “autopilot”. And the gains will just magically take care of themselves.

Well guys, the fact is, this is a scam! And most people will realise that, after learning the hard way and trying to get their money back. These companies just disappear. They come and go, they are thinking of more creative ways to try to make a quick buck out of these poor people that are trying to come into the market with genuine interest in Forex trading. They are getting hooked by these awful markets that are dragging them in and it is really toxic and something I am quite passionate about and I really am not keen on seeing.

The companies producing Forex robots often rely on broad, small print disclaimers to keep them out of trouble by promising tremendous results when those results are unrealistic in the long term. The problem is that Forex robots are run based on automated mathematical algorithms. Not taking into account things like market conditions that vary with political issues, weather, and other factors. The inconsistency of the market is impossible to program into a robot and therefore the results of Forex robots are inconsistent as well.

The thing is with these so-called Forex robots, essentially where they are able to suck you in as well, is that every trader may have a particular period of trading that they see exponential gains and typically what these Forex robots- (EA expert advisors) would do , is get a particular period – where it’s actually done really well where they got “x” amount of gains, and percentage , and they will market that period of trading of a week or 2 weeks and they will market that- look how much these Forex robots made in this period of time! Well guys, this is nonsense! Because the week following the period they focused on they may have had a massive drawn down or their account blew up you just don’t know but they suck you in with that particular good period.

So be careful in that. And also with Forex robots they don’t take into consideration risk management, risk per trade, draw down, factor in your account can blow up. All they care about is broker commissions , some of these brokers are partnering with these awful companies just because they know people will deposit their money into the broker, follow this robot, they will get their commissions that earn them the spreads, etc. and it really is toxic! So avoid these Forex robots in general.

So thank you guys from DailyForex, we hope thats given you a bit of an education and inside into being very aware of the scams that are going around in the Forex market. Don’t forget to download the DailyForex app for the latest educational videos and market analysis!”

Sara Patterson

Sara Patterson has a Master’s Degree in political science and enjoys analyzing both current events and the international markets to get a fuller perspective of the currency market. Before turning to financial writing, she taught English writing skills to high-school age students. Sara’s work has been published on various financial and Forex blogs.

A platform for Traders

Social Trader Tools is a web based platform for anyone that uses MT4. Hosted in the cloud 24/7 without the hassle of a VPS, allowing you to copy trades to any amount of trading accounts and much more.

Key Features

Account Manager

Social Trader Tools allows you to manage an unlimited amount of MT4 accounts from any MT4 broker, all from one platform. There is no special software, no complex configurations and no VPS servers required.

Simply upload your account credentials to the platform and your accounts will be hosted securely in the cloud 24/7. Once you have accounts added you can utilise the platform in many ways.

Trade Copier

The core feature of Social Trader Tools is trade copying. Our trade copier is the fastest copier in the market with an average replication speed of 50ms.

Once you have your accounts connected to the platform you can setup trade copiers. Trade copiers are highly configurable with various risk types and settings covering all scenarios.

Signal Provider

With Social Trader Tools you can offer your own trading account out to other users as a signal via a signal page.

Signal pages are publicly viewable urls with a long random code, so it can not be guessed, so you are never competing with other signals on the platform. They can be simply used to showcase your trading results or you can define terms by which users can follow your signals either paid or for free.

Whitelabel

If you are looking to start a trading business or have an existing brand, you can whitelabel our platform and offer out signals to your own audience. Whitelabels can be setup with a signal leader board, creating your own mini signal site.

You can choose from various style options and add your brands logo. You can also restrict what brokers can be used on your Whitelabel and even add a broker affiliate link to funnel users to your preferred broker.

Whitelabels are currently FREE. This will be changing soon, so don’t delay and get yours setup today!

BEST TRADING ROBOT

We all probably ask the same question over and over: How To Choose The Best Trading Robot? There is a countless number of Online Trading Software, but choosing the right one is not so easy.

As a scam investigator, I have tried more than 60 robots. We selected the top ones that integrate with reliable Stock and Shares trading brokers.

TOP ROBOTS April 2020

RANK ROBOT NAME PROS USER RATING MIN. REQUIRED START TRADING
9.6 /10 Read Review $250 Visit Site
9.5 /10 Read Review $250 Visit Site
9.4 /10 Read Review $250 Visit Site

“Choosing a reliable Trading Software saves you time and money. This way you can focus on improving your knowledge and further develop your trading career..”

Ben Savicki, Chief Scam Investigator

Traders’ Advice: Some Trading Robots are much better than the others on the market. Make sure you choose the best investment robot (e.g. the most beneficial one)! Check out why we do not recommend some of the robots and what are their disadvantages: OC Software Review and Infinity App Review.

Top 3 Warning Signs of Trading Scams

Warning Sign #1: Unrealistic Results

We have all seen those high results advertised via email. Let’s get real – if one is achieving them, why would they share it? Ever? Please think more critically and try not to fall for these offers of stock trading software.

Warning Sign #2: Unrealistic Winning Ratio

In financial trading the single important thing is to win more trades than you lose. Period. If a system is winning in a high percentage of the cases all of the time, I doubt there’s gonna be a market at all. As long as you are above or around the average for the industry, your trading system may be classified as having a good performance.

Warning Sign #3: Unrealistic Time Frames

They all promise yielding results in 1 day. Well, well – again a marketing trick to fool you and a desperate call for your action. It is not unusual to make that kind of results in one day if you are an experienced trader, but just multiply the amount x 1000 traders. Do you think ALL of them will achieve the same? As you know the market is built on a single principle: there are winners AND losers. We can’t just all win. If we could, there would not have been a market at all…

Don’t leave Choosing an Investment Robot to Chance

Online trading is becoming more popular than ever. The number of annually-released crypto trading and CFD investment solutions is increasing. This is not surprising because every user shares information about his or her success with daily payouts and profit rates. Social networks and media platforms allow this to happen fast. Which makes the average person’s closest social circle do the same. It is like an investment spiral that only goes upwards.

Not every person is born with comprehensive cryptocurrency trading, Altcoin investment or asset price fluctuations understanding and comprehension at hand. This is where legit and authentic trading robots, pieces of software, and apps step up. Their role is to assist the average Joe and Jane in achieving stable daily payouts consistently. Most of them do not even require downloading. All updates and version renewals are done automatically, as long as one has an uninterrupted Internet connection.

Unfortunately, not every Bitcoin trading and Altcoin investment app is reliable and trustworthy. The world wide web has virtually opened the doors of perception and profits for many. Including some shady individuals whose intentions are as far from good and client-oriented as possible. Scams are nothing new to the world of online investments. They have been around, quickly changing skins and colors, adapting to the needs of the market. But mainly to their very own greedy intentions. Newcomers must be very wary not to fall innocent prey to sham creators. Experienced investors know this mainly from negative first-hand experience. A burnt child dreads the fire.

And a stitch in time saves nine. It is best to learn to distinguish between the scam and legit investment apps.

What Is a Forex Trading Robot? – Learn to Distinguish the Legit from the Scam Ones!

Any digital investment program (app) that can identify winning opportunities in the versatile Forex market is a legit FX robot. Most of them do not focus solely on foreign exchanges but also allow the user to carry out investments with other asset types – indices, stocks, and commodities. Some of them even offer cryptocurrency exchange possibilities. More companies around the world begin to recognize them as valid and viable payment systems.

There is also one more characteristic that can be attributed to legit Forex robots. It is the fact that they have established solid connections to licensed and regulated foreign exchange broker platforms. Placing your hard-earned savings into the hands of unknown individuals is never a lite step to take. It takes browsing through a ton of user testimonials, Forex software reviews, and client feedback.

Our team has a dedicated FX investment apps investigation team. We try to do all the preliminary work for you. So that the client is left to focus on the trading process itself and enjoy the results and solid daily payouts.

Here is how to recognize legit Forex trading solutions:

  • Impeccable Forex Investment Algorithm That Easily Identifies Winning Trends;
  • Laser-Sharp Data Analysis Precision of the Computer Codes;
  • Attentive & Professionally Trained Customer Care Staff;
  • Lots of Useful Special Features That Users Can Easily Apply;
  • Connections to Reliable & Regulated Forex Broker Platforms;

We have determined that the QProfit System is one of the top available choices for sustainable daily profits. It has been in operation for several years now. Never failing to provide its clients with everything they need. It has a reliable programming algorithm, consistent Forex trading payouts, and speedy withdrawals.

What Is a Crypto Trading App? – The Thin Red Line Separating the Legit & the Sham!

Cryptocurrency exchange investment solutions operate much in the same manner as Forex trading robots. They use the same principle. They too, sometimes, allow users to place trades with not only Bitcoins and Altcoins but also other asset categories. The crypto market is still, for the greater part, unregulated. It is also not very easy to find an authentic opportunity to achieve good daily payouts because of this.

Some cryptocurrency investment apps focus on a specific type of Altcoin or Bitcoin. Users are presented with the opportunity to engage in trades that involve only Ethers. Especially, if all facts point that their value will rise or fall. But then, it is always best to have a diverse range of assets. This way, if the price of one of them does not offer any fruitful opportunities, then there will always be another one which does.

Most crypto trading apps include two modes of operation – a manual and an automated one. Just like FX trading solutions! More experienced crypto traders can choose to trade on their own. They are allowed to apply any investment strategy or tweak that they have learned. Newcomers, however, can leave it all in the hands of the programming algorithm, letting the Altcoin investment bot do it for them.

This makes trusting an authentic crypto trading robot crucial to the amount of generated daily payouts. Here are some of the characteristics that every legit cryptocurrency investment robot should have:

  • Positive Feedback in Client Reviews & Testimonials on the Internet;
  • Two Modes of Operations – a Manual & an Automated One;
  • A Diverse Range of Cryptocurrency Trading Assets;
  • Realistic But Stable & Consistent Daily Results;
  • A Good Number of Useful Special Features & Crypto Trading Tools;

Again, our team has done all the preliminary research instead of the end-user. We have managed to determine that both Bitcoin Loophole and Bitcoin Code System are legit and authentic BTC investment apps. They offer consistent profits and stable results. There is also access to a multimedia Education Center and a licensed partnering Altcoin broker platform. The sign-up is costless but the number of daily free spots is limited. Users must be quick to secure one.

How to Open an Account with a Crypto or Forex Trading Robot?

We will now exemplify the entire process of getting started with a cryptocurrency exchange software. Our goal is to make the procedure as clear and transparent as possible to the regular person and the newcomer. Let us run you through a quick 3-step method of opening a trading account with the cryptocurrency investment app.

Step 1. Sign-Up for Free

Registration does not take more than a couple of minutes. All that the client has to do is to enter a valid name, email address, country of origin, and telephone number. They will receive a confirmation letter in their inbox shortly after filling the digital form on the official website of the Altcoin investment app. Users must proceed and click on the link, applied inside. It will take them to a trusted, licensed, and regulated partnering crypto trading platform. A Personal Account Manager will call them shortly to clear out the details and help them set up an investment account.

Nota Bene! Customers must also choose a secure and safe password. It is best to choose one whose length is anywhere between 6 and 10 digits (characters). A good piece of advice is to include both numbers and letters.

Step 2. Make an Initial Deposit!

Legit crypto and Forex trading solutions do not have hidden fees and costs. After choosing a trading account type, users must make an initial deposit. The minimum amount is $250. It is good to know that the sum can be withdrawn at any given moment and is not an actual payment. It is used solely for funding one’s account. Remember, the bigger the investment – the greater the daily payouts!

Step 3. Achieve Good Payouts & Withdraw!

Customers that are more experienced can opt for the manual mode of operation of a crypto or Forex trading app. Newcomers, however, are advised to opt for the automated mode. This way, they can learn and grow as investors, opening up new horizons and building a portfolio, as they accumulate solid daily profits. There is also the possibility for speedy 1-day earnings withdrawals.

Beware of The Scam Crypto & Forex Trading Robots!

To protect the earnings and investments of newcomers digital traders, we have compiled a list of scam robots. Most of them are well-known in the online Forex and cryptocurrency investment sphere. They emerge under new software names now and again. Do your best to avoid signing up for their shady services!

How to Choose a Trading Robot?

Don’t leave Choosing an Investment Robot to Chance.

Choosing a trading software is certainly one of the trickiest tasks. At Is-Scam, Our Goal #1 is to prevent scammers from fooling traders. Here is why, we selected only the 100% proven, tested, and approved stock and shares trading robot by our Quality Assurance team.

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