Master Bot is a robot program for trading at Forex. It is considered to be a solution for Internet trading that will lead your successes in a trade to the new level. But is it so?
On their website is written, that system gives you signals, that promise you profits if you trade with their help at their broker.
Master Bot doesn’t require a download – it works online.
On their website is written that Forex Master Bot supports respectable brokers with a good fame, that have a license of the most known control bodies, but you can’t see these documents anywhere.
What is the Master Bot system and how does it work
FXMasterBot is made upon a trade program, created by some team of professional traders that give trade signals right to the broker. But if we look better, we won’t find any contacts or real names of these professionals.
Trading robot gives signals on various assets – from oil and gold to different currencies, it means, that these “professionals” are experts in trading with everything, which is hardly possible.
The program checks and chooses your trade settings, suitable for individual users. You may find the current assets you prefer to work with and Master Bot will give you signals for trade. The user is able to change the required chance for the signals. All the customization doesn’t have any practical purpose and it doesn’t help you trade better.
Several brokers, which have contracts with Master Bot are available for work, but every one of these brokers gets a hare of your deposit.
Forex Master Bot is not an automated robot in the traditional sense of the word. It is an internet soft that is fully situated on the web, it means that you can’t download it and see how it’s program code is written.
Although it is said, that it is not a broker itself, Master Bot belongs to the owners of online brokers and it brings profits to them, but not to the user, who makes a deposit.
Why it is a scam
The Master Bot trading program is controlled by an anonymous person who has not gone through the necessary steps necessary to provide this type of service on the Internet.
You can see that they are asking to make a deposit on some broker.
This means that an unlicensed product wants to deceive you for your hard-earned money. These transactions are not reversible. Once you make a deposit, you will simply lose your money for scammers, anonymously.
But if they want to prove that they are not scammers, they should probably show themselves and convince us that they are real experts in the trade and that they have a track record in this industry. While they continue to hide, this review will remain as it is.
You should never trade with robots that provide investment advice without a license to back up their activities. Master Bot is clearly going to process your money just like scammers do. Therefore, the developer probably needs a license from the authorities.
You also can’t see a source code of the program, that is why you can’t be sure that system gives really profitable signals and doesn’t cheat their clients. On their website is said, that their trading program can easily find even the least market movements. But how it works is unknown for users. That is why we can assume that their algorithm gives signals, that are profitable only for this system and for its owners. There is no one reason to keep a source code closed if the program is free, only to scam their users.
You should avoid anyone who tells you that you will earn thousands of dollars in a short time. In most cases, it’s a scammer who tries to get your money in a dishonest way.
Brokers, that Master Bot offers you do not have a convincing license, that can be really checked in any regulatory bodies.
Although register at the project is free, Master Bot gets profit for itself. When users make deposits, the program receives a percentage of the contribution. And every time the user makes an unprofitable transaction, program and its owners get a share of this money. That is why it is profitable for the trading robot if you lose your money.
The system tells, that you get profitable trading signals, but it doesn’t, where these signals come from – you can’t be sure, that you will really get profit. The only proof for it is the description on FXMasterBot website.
FXMasterBot promises their clients getting signals every minute, which seems to be nothing more, than an advertising trick, because no one professional trader is unable to make profitable deals in such a short time.
Brokers themselves usually create robots so that their investors are ruined as quickly as possible since their profits mainly depend on the attracted money from users. Do not believe in tales that someone gets to come from spreads and from “a huge experience in trading on Forex”, the main profit of every broker is your money.
Trading robots are the easiest way to automate earnings for scammers and FXMasterBot can be one of these scam programs. No one robot can bring you real profit. Hardly anyone will do something free that will make a profit. Being a newbie it is advisable not to fall for such scammers. In the real world, in real trading never existed, there is no and there will not be any universal algorithms for earnings “easy and fast” using trading.
Recommendations for traders
At the conclusion, we want to say, that to argue that all robot advisers are made by scammers is impossible since even experienced traders on this exchange trade with the help of robots. But their robots are made by themselves and you can hardly find such robots on the internet. Be sure to be careful in choosing brokers and robots, because a lack of experience can hit your wallet very hard.
We can recommend you Tools Trades project. It is not a scam site like FXMasterBot, it’s a legitimate trading system that is transparent to its users. Using the recommended Signals Trade you have a complete control over your investments and retain the right to make investment decisions. Projects like Tools Trades can really help you get the profit from trading on Forex.