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Interesting Pros and Cons List: Human Trader vs Forex Bot
Forex traders always debate which trading method is better: is it trading the financial markets manually or is it better to use trading robots?
Many people might be very stubborn about this regardless on which side they choose, so before I give you the pros and cons of a human trader and a trading robot let me give you few words about the robots as a big picture.
The trading robots I refer to are not only the ones you might know, the ones that give ridiculous profits, and the ones that you and me would call a scam as soon as we see its website. Yes, those robots exists and they seem to be popular, but this is because many people are looking for shortcuts to riches. So as long there is a demand for such product there will always be someone who is trying to sell them.
But what I would describe as a perfect trading robot is the one that you create yourself. You might be a programmer who spends hours, weeks and months creating a robot that works for you, or you could be a manual trader who had his own trading strategy programmed into a robot by a skilled professional programmer.
So in other words I see a trading robot as a computer software that was designed specifically to follow your requirements and your trading rules. So it’s like another version of you, it is just automated and all it does is analyze and trades in the financial markets 24 hours a day. You could spend 24 hours a day too, but obviously this won’t last for long.
And also have in mind that a trading robot can be fully automated or it can be semi-automated. It can also be fully automated, but you can enable and disable it whenever you feel you need to do so. It’s like having an employee that never sleeps and never gets emotional and just does what you tell him to do.
Some might refer to trading robots as automated trading systems, some may call them expert advisors (MT4 term), other just call them Forex robots–no matter what name you use it describe the computer software that can be semi-automatic or fully automatic, they can be programmed to make your life easier.
Advantages of Automated Trading Systems (Robots)
Let’s start off with the advantages of using an automated trading system. Remember that each trader is different and what works well for someone else you know in the business may now work well for you. We all have to find out own way in trading.
1. Operates on a set of rules without greed, fear, ego or bias.
Unlike humans, trading robots will never be misguided by emotions, and unaffected by the trader’s psychology. Trades are executed automatically once trade rules are met. It follows all your trading rules no matter what’s the market condition. It won’t panic in a losing trade or revenge after a huge loss. It won’t jump back in the markets after a big win to make more money. It plays out your rules without clouding up the trading process with emotions. Let’s face it, as humans we are basically emotional beings and it is not uncommon to get emotional when we suddenly lose a trade for instance and this might affect our performance when we place the next trade, but with robots you can be sure that all the rules are followed in spite of any previous trades.
Automated trading is an excellent way to build up confidence about the market to prevent emotions and psychological issues from affecting trading decisions.
2. Monitors the market 24 hours a day.
Let’s be honest here on this one too because some people just don’t have ANY time for trading because of their busy schedules. Some of these same people look to robots to trade for them because of this great time disadvantage they face.
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You don’t have to worry anymore if you have missed some trading opportunities since the forex robot will do the monitoring for you. Automated trading systems can take trades day and night, and do not miss trading opportunities. It monitors the markets for you every second on a 24/5 basis without any intervention. You don’t need to be glued on your screen and analyze the right chart close enough for potential trade setups. Your EA gives you the power to monitor dozens of forex pairs at once with the ability to identify and react to trading opportunities immediately. It is able to open and close trades according to your trading strategy while you are engaged in some other human activity. This is a great way for you to save time and do other more profitable ventures or activities indeed. Simply put, you don’t metaphorically become a slave to trading in order to gain some profit.
3. Identifies and reacts to opportunities faster.
Getting in or out of a trade a few seconds earlier can make a big difference in the trade’s outcome. A Forex robot executes trades in a fraction of a second and profits from sudden market movements. It uses the speed of the computer to monitor the markets and identify trading opportunities based on coded rules, and execute based on these rules in fractions of seconds. As soon as a position is entered, all other orders are automatically generated, including stop losses and profit targets. You will see that you will never run out of trading opportunities.
4. Consistently carries out the trading plan.
It is undeniably true that the ability to stick to the plan makes the difference between a profitable trader and an unprofitable trader. With automated trading, you can be assured that the robot will be completely disciplined to stick to the plan no matter what the market condition is. It is designed to stick to the plan without exceptions. If you think you are not able to stick to the plan at all times, when you use a robot you don’t have to worry about this because the robot is always an expert when it comes to this matter.
But this at the same time is a huge disadvantage when the markets get rocky or the style of trading does not fit with current market conditions. We’ll talk about this more later, but just make sure to not rely on this ‘robot discipline’ too much.
5. Executes trades error-free.
What’s even more amazing when you use a robot is that it will not only stick to the trading plan, but will always execute trades correctly. A robot won’t take a sell when it should be taking a buy, it won’t enter the wrong lot size and it won’t miscalculate the stop loss and take profit parameters. If you do the trading yourself there are times when you will definitely execute trades incorrectly, but with a robot you can avoid this.
Note: This is usually the case, but there are many things that can come up and cause errors in robot performance including broker-server connection issues, internet connection issues as well as MT4 trading robot problems. Spread spikes can throw off performance as well as a number of other potentials. In real-world experience, robots can sometimes run into trouble too.
6. Diversify trading.
If you are searching for ways and means where you can maximize your trading potentials in such a way that you get to trade more in a jiffy, then forex robot is the answer to your search. A robot monitors dozens of currency pairs at once and does it more efficiently and effortlessly than a human trader. It has the ability to scan for trading opportunities across a range of markets, generate orders and monitor trades. It also gives you the power to trade multiple accounts or various strategies at one time. This might sound unbelievable to you but for a robot this is absolutely doable.
Advantages of Manual Trading over Automated Trading
Although automated trading has all of these advantages, I can still say that we cannot underestimate the advantages of manual trading since these are based on the innate human intellect of which a robot does not possess. Here then are some of the best points that you might consider as well.
1. Challenges your discipline and psychology.
As what I have pointed out earlier, automated trading programs offer some advantages over the human mind, mainly in the realm of trading psychology and trading emotions. However, the only main thing that a human trader has that a trading robot doesn’t is a brain. This basically means you can also use your brain to work to your advantage after learning all there is to learn about trading and use this knowledge. After all, the robots were once an idea that originated from the human mind.
2. Executes decisions perfectly or near-perfectly.
You must know that although the robot can do amazing tasks, the human can even do more than what a robot does. Where a trading robot can only execute trading decisions based on the conditions that programmed into it, a human can take into account everything that is going on, including fundamentals that may occur unexpectedly, and process it together.A trading robot doesn’t read and interpret the news and this is a big inconvenience because news is a very important part and plays a very important role in forex trading. Thus, you can actually use what you see in the news to your advantage since your brain is more flexible and can adapt to sudden changes unlike a robot that has been programmed from the very start.
Note: There are some news filters that some robots have which can adapt the performance of a robot (or pause its trading altogether) when there is a high impact news event happening or coming soon.
3. Some rules need to be broken.
Robots work in terms of a system and rules to follow and they have a patterned thinking if we can call it that, so unlike the human brain it cannot read deeper into things. This is the reason why a human can see if the market is moving awkwardly slow or unreasonably erratic and pull out his trades. Most robots are mathematically based, and work best on trending markets. Most are vulnerable and get chopped up themselves when the markets become choppy or move sideways. So points off when it comes to market adaptability for the robots.
4. Robots are always missing intuition—the experienced trader’s “sixth sense”
Lastly, as robots don’t have any emotions, they do not have the “intuition” that every trader must have at some point in time which is also an essential part of trading. A human trader can get a feel for the market. There is a lot more that goes into deciding to pull the trigger on a trade than what a computer program can calculate. A large part of Forex trading success is gut-feel, and it is really something that you as a trader need to develop.
Those who have this gut feel are not likely to want to use trading robots in the first place. They are highly skilled traders who can earn good money in the markets. Some who buy trading robots are able to make good money too—if they trade with sound risk management and ‘get lucky’ with the robots they purchase.
Robot Trading vs Manual Trading
I believe forex traders have one thing in common and that is, finding the best way possible to maximize their profit. As a forex trader for many years, I have tried and seen what works best for me through a series of experiments and testing. There is actually no right or wrong method of trading as it depends for the most part on what method works best for each individual trader. You must have heard some traders say that robot trading has served them well, while others still prefer to trade manually as this has worked best for them. If you come to think of it, traders have their own reasons why they use a particular method. After weighing the pros and cons, I have finally found what has served me well throughout my career as a trader and software creator. To help you make the right decision and to give you a good idea on how to choose a trading method that works for you, here are some points to share. Read on…
If you have not used a robot for trading, have you ever wondered why some traders use it? There is actually something interesting about using a robot. Basically, the convenience of using a robot is what sets it apart from manual trading—that, and the distance of emotion. Many differences exist between using a robot to open and/or close trades and being an active human trader.
Using a robot automates the trading process so much so that specific platforms exist to enable traders to mirror other users’ trading strategies. This is technically considered robot trading by some. No user input is required except when the user selects a strategy to add to their portfolio and then activates it. The software will then watch for trade entry signals from that strategy. When one is detected, a trade is opened on the account that is mirroring the signaling account. Statistics for each strategy are available for research purposes and recent performance history is readily accessible. With this feature, you will only have to decide on what strategy to use and let the robot (or human trader on the other side) do its work.
That is what I do on Vavatrade. I sell trading signals that my trading robot generates automatically.
Note: The great danger with copying signals is that, just as the classic warning states, past performance is no guarantee of future gain. Even if a signal provider or robot has done well in the past, it does not mean that it will do well in the future.
Trading robots can take into account data from technical indicators such as stochastic type oscillators, Moving Average Convergence/Divergence (MACD) histogram indicator, key Fibonacci retracement levels, support and resistance levels and pivot points. It seems there are no limits to how complicated trading robots can become in the hands of a skilled programmer. This way, forex trading robots are extremely versatile and can generate large profits with minimal involvement from the trader. If it is your wish to trade but don’t have enough time to do it yourself, this would help you a lot (so long as the robot is profitable of course).
Although robot trading in some aspects can be beneficial, you must remember that a coin has two sides and this is also true with robot trading. A robot can only do so much. Robots do not take into account price action. According to many successful traders, no robot or technical indicator can give them more information on market conditions than plain and simple price action.
Sure robots can be programmed to analyze price action, but they will never do it the way humans can do. No trading robot is able to see the charts as humans do.
Risk Using Robots
But there is more to the story than just this: sometimes it is hard to control risk with robots. Potentially disastrous situation that could arise when using trading robots is the dreaded margin call. A margin call occurs when your account value depresses to a value calculated by the broker’s particular formula. All trades that are open at the time are closed to ensure that the trader never experiences a negative account. Not doing so would create a situation in which the trader would owe their broker money after losing every dime they had deposited to begin with. Obviously, that is to be avoided at all costs. Brokers understand that. The margin call is a totally automatic process that protects traders from this nightmare situation. The margin call is especially dangerous when traders use robots to trade because robots can be programmed to open more than one trade at a time.
Now of course it is possible to program a robot to monitor free margin of the account it is trading on, but most of the robots don’t have this or are not very good at this. This is something that is kind of hard to test, so in many cases programmers do not put much effort into this. This is not to say that human traders would not experience the same situation, as this happens all the time. However, when there is a human brain and logical thought behind each trade, more caution is usually exercised than that which a robot can provide.
How much time can you commit to trading? How much effort are you willing to put in? How much time could you afford to spend on trading? Many traders enjoy watching charts, studying technical indicators and eagerly awaiting a major news event or press release. Using a robot completely removes these factors for the trader and therefore may not fit everyone’s preference. If a trader is looking to make money with next to no involvement, robot trading may be the right choice. However, if the trader enjoys the process of seeking out trades and making judgment calls based on the information they see in charts then robots may seem boring to them.
It seems pretty obvious that if you are the kind of trader who doesn’t mind spending a bit of your time or even more and enjoys the process of analyzing the indicators and charts, then forex robots will be of no use to you. However, if you don’t want to delve deeper into the trading process and would rather spend more time watching your favorite sports on TV while accepting some trade wins and losses, then forex robots may be what you just need after all.
What do you like to trade with? Do you use robots to trade, and how do they work for you if you do? I’d love to hear about it and so would the other readers. Please share if you have a robot that is working well for you and driving in some good success. Thanks for reading and learning more about robot trading!
Star Trader EA Review: Is Star Trader EA Scam or Legit Bot For Trading Forex Pairs
If there are any other forex brokers that may scam traders please don’t hesitate to add a comment here. This is meant to be a warning that traders should be cautious. It’s not evident of course. But when fellow traders got scammed and have reasonable explanations for it, it’s their duty to warn other traders to avoid the same mistakes. Thanks for sharing your experiences.
These are the brokers that may be scamming traders. We received warnings from visitors with accusations that justify an official warning. Please be cautious:
Traders reported to not receive withdrawals. Support is silent since the cashout request.
“I have been through your website , and I haven’t seen the broker I work with listed in the website.
However I’d like to share with you my trading experience with a company named trade24, they’re are by far one of the top scammers, cause they are real scam artists professionals
When I first started trading with them their account manager took so many positions for me which caused a loss in my account a drawdown of about 50 % uue to his trades against the market trend , when I started taking my own trades he used to close them for me too even thou they were mostly in the right direction
however they compensated for me in a bonus ” a very manipulative way of freezing the traders account ” and refusing withdrawals for the trader and for every 1000 usd the trader apparently needs to trade an amount of 200 lots so for several thousands it will be quite impossible to get to that point .
I have went through several forums and apparently the issue isn’t only happening with me many people were scammed before and people are still getting scammed.
Apparently clients can’t reach them directly their employees disappear sometimes no one to talk to or call . And they were even trying to scam me further by asking me to send more money so that they can help me with losses
Note that I have managed to recover my original amount of balance but they have declined my with withdrawal request under the excuse that I have a bonus obligation to full fill
I wonder if there is any legal action that I can take against them , I suspect their address isn’t even real and so on.”
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69 opinions and experiences
I joined bitforextrading.net sometime this year when running promotion, at the end of the promotion when am to make withdrawal, I was given charges of 1000 dollars to settle before making withdrawal. This I term a scam as this was not part of the deal. Pls I want to confirm authenticity of this broker, while doing that I want traders to be aware of the broker.
I would like to repot Ecrypto chains. I invest with them promised to return my funds in 40 hrs, firsf they return mt money after that they just promised me to refund me in 5 hrs as from last month until now. Just be careful
Avatrade.com that you recommended here is actually one of those scam brokers who swindle my account down to zero balance by use of their EA inside my account. They are cooperating with their affialiate, Smartalgotrade.com, to do the swindling act. Stay away from them for those traders who havent or plan to register with them
Hi I opened an account with UFTGROUP and had a broker called Morgan Smith. They take your money and when you want to withdraw they tie your money up with forex trades so your platform is low with funds. I made a big mistake by saying I would do my own trades so I changed my passwords and went to withdraw and next day my account had been hacked and by placing all these trades with thousands of dollars commissions attached to each one my platform drropped to zero in 24 hours so I have lost everything as my account is in minus $12000. Stay away from this group.
I invested $300 in to cryptohubfx.com. During the proces of trading I got a mail that they wanted 1000$ to get bigger returns and release my account. I did because I trusted my trader. After they payment and on the withdraw day they wanted a upfront payment before releasing my profit. It was 10% of $17.000. I cut it off because what’s next?
I’m in the same situation right now, I did invested $300 they gave me $160 for some reason. But now they’re asking me to pay $4,820 for the VIP section what not.
But my trader is very nice thou and says his been to trading for 6yrs. Like completely in between right now.
I have been trading with Instaforex.Now that i want to withdraw my money they say i have to pass some verification levels.The first they asked me for my passport.And for two months they have been rejecting my scan without a reason. You do not need to be a specialist to make a good scan.Everyone can see a scan at 1200 dpi but to them its not good enough.So they obviously don’t want to give me my money back
Am Kennedy Akparanta
Registered and funded my account with $300, in this scammer broker site, 24stocktrade.com on 5th July 2020, After trading wanted to withdraw my profit but was told to pay withdrawal permits and trading permits fee totalling $503. I told them I don’t need the profit anymore, they should allow me withdraw my capital but they refused. Then stopped communicating with me. Please can someone assist?
Santosh contect no.+918758511967 and amit/mahesh lamba/ritesh are big forex scammer,they lure you to invest and big returns but they not give any money back and demand for more money.they show others ac also for trapping you.other such person arun sharma +917069746942and harsh or harshil desai+919601295397.
All above are connected with digitex technology,topstarforex.com
Beware of these people and punish with police.
I couldn’t figure out for some time, who is the owner of the ForexGrand forex company. Finally I figured out his name is Yordan Mijatovych, he is Bulgarian and lives in Malta. The address in Malta is Ghawdex 70-42 Triq It-Torri Tingi.
It took me much time to register and the support teams is slow to answer.
WARNING: KAYAFX IS ONE OF THE WORSEST SCAMS!
I opened an account with this scammer with euro 100. Due to different reasosns I could not trade and when I asked for my money back they did not answer to me. I pplied 2 times with no result. At the third time I got an email, that my money could nto be paid becaise 1) the amount I would have available was under euro 100 and 2) this amount would be lower than the minimum to be withdrawn. I checked my account and I was amazed to see fozens of trades, all were losers, none of them was done by me. And all were “SELL” trades. This means, this broker manipulates the accounts to cause the loss of the money and so they don´t have to pay anything. In this moment I have lost more than 50% only remain euro 41 in my account. I noticed that the trades began after me doing the withdrawal application.
Therefore I am warning all: hands off of KAYAFX: is one of the worst scammers!
Tony Bruner in 245Markets is one of the worst swindlers in the market. Do not send any Money to this scam/swindler. He is friendly when he asks for Money. Withdrawal never happens.
At4f four advance scammer..almost 2 month withdraw not receive money beware
They scammed a friend of mine
Forex Hacked 2.6 and Forex Hacked Pro 1.2 are very crude EA robots and they can delete all the deposit to zero within a week. I bought Forex Hacked 2.6 on January 19th, 2020 and Forex Hacked Pro 1.2 on January 23rd. Forex Hacked was working fine for few days but it suddenly crashed my account on January 24th. There was this 14 digits of earnings listed like this way xxxxxxx.xxxxxxx and the numbers were changing even after I disactivted the EA manually! So, there was actual hacking of the EA happened to me on easyMarkets with InterServer VPS system!
Also, Forex Hacked Pro 1.2 was much worse. It only made 0.01 to 0.04 lot trading (10-40€) and set the TP for less than 2€ all the time. The EA does not set a SL and it only made the winning cut down at 0.00 to 2.00€ level and the loss could be over -50€. Why people need to buy this Forex Hacked Pro for over 300€ value? I could make a trading better with just getting the free signal or paying 20€ for OANDA or something comes with the MT4 or even just check the News for the trading. IronFX did not crash since I registered in last November but easyMarkets did 4 times. 2 times within a month and 2 times within a week. And Forex Hacked 2.6 caused the 4th loss of the deposit within a week. Any sign of the scam? I believe something went wrong with either Forex Hacked or easyMarkets!
So, I made the blog site for sharing the information. Can anyone help me getting a
lawyer to get the deposit money back? I think Forex Hacked program was not really functioning on the VPS.
Any one had an experience with isgxchange.com? Account managers Conor Wright and Tom gray?
Yes, I am having massive issues with them! Extremely arrogant and infuriating and just cannot get my money out. Excuse after excuse and then just ignoring my request. Have you had issues with them and have you been able to withdraw your money?
I am facing similar issues. They are blatantly getting away with ‘murder’. Am really astonished to see how can such company get away without the fear of being caught by law or enforcement. Please see the thread on http://www.forexpeacearmy.com/community/threads/isgxchange-formally-known-as-ig-options-exchange.54262/, provide your comments. I am sure if all of us victims can come together we can have a much better chance of getting investments back.
Run away from this company!!
SCAM. AND CHEATERS.
thay call you back after 1 day when you invest money but later when you want withdraw money thay canceling all time with no reason. if you dont whant trade with them forward they canceling your withdraw. 3 times already and waiting 2 weeks and again canceled yesterday just because i dont want trade. all documentation ok for me, just dont let you withdraw and i look in internet review many people the same problem with this company.
I had already started trading with MT4invest.com before i came across a site that listed them as a scam. True to the warning to avoid them, the chicken has come home to roost for me as all my attempts to withdraw parts or all of my balance have failed and they have a professional scammer called Percy Martins (not even sure that’s his real name) that will keep calling you and giving you reasons why you can’t get your money. It’s a different reason every single time.
He even opened some trades for me that almost killed my account but i was able to do some trades that stabilized the account and made some profits but it has been impossible to make any withdrawals for almost one year now that I’ve been trading on their platform.
Basically, I’m confirming that mt4invest.com is a scam. Please warn others to avoid them.
hello everyone i was scamed by gbe brokers,i tried many times to get my money back but they tell me that they changed banks and they cant give me back my money,is a month now and still i have not received my money back.Gbe is a scam
SCAMMED BY FOREX TRADING CENTRAL I FXUnit I MARKETSITRADE I BeCFD
Guys, I am reporting this case so that no one falls into their trap and just before proceeding legally against the company who is trying to hold my money!
Last month, I was approached by a company named (Forex Trading Central) who offered me to open an account with them. I agreed and was directed to one of their platforms (marketsitrade.com) where I did the deposit and immediately opened a position under the guidance of a nice gentleman who asked me to schedule a “take profit” command.
Next day I received an email from them asking me to validate my account. Documents were submitted from my side and an email confirmation followed from their support team.
On the same day, a new account manager called me mentioning that his name is Oliver Thompson. he gave me a lengthy presentation explaining that i should follow his trading strategy and that i should ignore the recommendations of his “junior” colleague who assisted me opening the account and do my first trade. it was agreed then with Oliver Thompson that i will consider his recommended strategy after Sept. 10th right after i get back from my vacation.
I was watching the market on google while i was away and the price of the instrument i traded was up by 21.5% – way above the “take profit” position that i had scheduled. I assumed that my position was automatically closed by then.
returning from my vacation, I logged into my account (two days back) to find that the position was still open and my balance is down by almost 60% with all the functions on the platform being disabled. Immediately contacted Oliver Thompson and his answer to me was “the platform is not good and can barely trade Crypto Currencies”. he asked me to open a new account on their “state-of -the-art” platform called (BeCFD). I rejected his request asked him to reimburse my investment and informed him that i will consider BeCFD only when the money is back in my account. Since then Mr. Thompson failed to provide me a straight answer on whether he will send back my money or not. my last email to him was this morning informing him that I will pursue my rights to collect my money. of course he ignored my email and here is my first act against them.
I would like to add that a company with the website URL “www.becfd.com”, which may or may not be the same company, arbitrarily and with no explanation simply removed 30% of my funds from my account when I requested my account to be closed and my funds returned.
hello all forex related friends i would like to share with u that zulutrade.com is scam as after working with them for 54 weeks and getting my position within top 20 traders of world rank they did not pay me the commission whereas they deduct the amount from our followers account . Their No.1 to 10 positions are for their own people they are trading and earning a lot of commission and end up with blowing the accounts of followers. zulutrade is a big scam. They dont pay to actual SIGNAL PROVIDERS. here is my link and people with amount following me i have told them also to leave this platform immediately in my social section. Please share this post that other people could be alert and avoid a big scammers.
Has anyone tried to recover their money from 53option? I had to hire a refund solution professional to recover my funds, it was successful. Happy to help other victims going through this.
Hi can you please let me know how you managed to get you funds recovered
And I was stupid enough to take your advice and you know the rest! You are a SCAM yourself!
This is with regards to bforex. I had initially deposited 200 $ and now i get to know that its a scam. How do i get my money back. Kindly rever back to me as soon as possible
I have a issue with IronFx about the withdrawal, the principal issue is
that in the articule 17.7 about the time for withdrawal indicate that it
will be on Web Site but it doesn’t appear.
Their Portal Complain doesn’t asign a number, and they don’t answer my
245markets.com. Beware of this broker. Account Manager – Tony Byner and James Bosko are names to beware of. They use 245markets.com website as a store front to allow deposits, however withdrawals are impossible. Cold called for Snapchat IPO, invested $1000.00USD and I have tried numerous attempts to complete a withdrawal. Every time I receive a call from account manager who then tries to up sell and ask for more money. They say they are located in UK, however they use IVPN to place calls and call display shows +4488582259, however calls could be from anywhere in the world. Don’t be caught by this scam.
Dean, is that Tony Bryner(rather than Byner) you’re talking about? A right scam artist, so he is. He’s also linked with Marketsbroker who are yet another scam broker. Requested a withdrawal from them and either he or some lowlife in the company decided to place 4 unauthorised trades on my account which wiped it out.
Yes Liam, it is Bryner. They (245markets.com) and Tony Bryner just clean out my account by $1100.00 USD.
Tony Bryner in 245Markets is one of the worst swindlers in the market. Do not send any Money to this scam/swindler. He is friendly when he asks for money. Withdrawal never happens.
I had lots of money on my account. suddenly he startet a 5 point sell with Bitcoin/USD and others too. He said that Bitcoin/USD will increase to 18000 USD and traded a sell instead. This was done on purpose and I lost $500000 pluss.
He never answers my questions and we need to stop this man.
anybody trading with cms trader?
GTP CAPITAL. STAY AWAY. They are not real. I am a victim and it has destroyed my family and future.Suddenly disappeared when trying to make a withdrawal. No support. Saw the scam alertstoo late. It hurts to see so many people that have lost their entire savings, retirement and much more.
These motherfuckers took my money as well
but the hell waiting for them
I lost $80k trading with binary option, being told my trades would be carried out using a master software. I thank God I was able to get my funds back through king-wizard(at)programmer(dot)net I would recommend his contact if your seeking to get your binary option investment back from your broker
I am a client of IBAMARKETS.COM (SIR GLOBAL LTD) This company has passed the certification procedure and obtained the FMRRC Certificate of Compliance on 18.05.2020.
I asked them for my first withdrawal of money 1 month ago and they do not respond to my mails, I do not have any technical support and support in this regard.
Through this email I wish to denounce this fraudulent practice.
Please warn people about Currency House. They are based in the Ukrain. They are not paying out ANYONE and keep postponing payout dates (To JUNE CURRENTLY). Its a massive scam.
I joined tixfx.com in June 2020 and deposit 5000usd. By September 2020 the account manager Chris Bonson has loss all my the money. Late September 2020 i was contact by Megan Logas saying she will help me recover the money and again by 16 February 2020 Megan Loagas has lost all the money. i request a withdrawal on 10 Febraury by nothing.
tixfx is a very big scam
Hello abram im just a random trader and can relate to your story. thank you for sharing your story. You`ve been in contact with Megan Lagos? this is her contact skype info:megan.lagos2
tixfx is that related to markets 245? yes its very sad to witness all the liers and scammers out there. be cautious and evaluate before open any account with some random broker. there are thousands to choose from.
Het i agree here as well. First a girl called me with the name of Gulia Ferano and gave her skype. She told me to deposit and at the first i didnt trust them, after she was like we have a professional guy who will help you to get 500$ a week if you deposit 250$, The name of the guy is Oliver Badger. I deposited becasuse i trusted on this broker. After i deposited, Oliver Badger called me and told me to deposit 250$ more and i was not ok with that and he started promising me that if i do so than i can get 1000$ profit a wekk. I did the withdraw of 500$ total and the guy started to say that we have a professional girl whose name is Megan Lagos with the skype name megan.lagos2, she contacts me and says again to deposit this this and you will get 5000$ profit in a week with the 101% guarantee and i thought that it was true and i had a total deposition of 1000$, i had total of 2054 dollar but when i try to withdraw they always cancelled. The reason was the credit and the margin level is low. They says always that and now i have only 440$ on the ForexGrand and it is still declining. I asked to Megan how can it be possible to go from 2054 dollar to 440dollar in 10 hours? she was like bitcoin increased and all. Now she fights with scream at me even tho she loosed the amount.. oops i lost like 1000$ and i would recommened you guys now to go and trust this forexgrand because it is a complete scam. They will eat all of your money. You are not getting anything back on this trust me
I lost 250$, it’s not a big amount for some but I am here to warn people so that they won’t make the same mistake. I saw their link first time on Facebook. There’s this short presentation done by two people (man & woman) as they’re about to board a private plane. Well, in short I got carried away with this presentation that I signed up. The broker’s name is: SKYLINE MARKETS. Later on, I decided to withdraw because what I saw in the presentation was way too far different. They replied (surely it’s a robot) that I need to submit “Compliance Department” to be able to get my 250$ back. I communicated as well through online chat and was told to wait 48 hours and etc. It’s been more than 5 days now and I nothing happened. 250$ dollars may be small for others, but this amount is already a big amount for me since I’m only working in a rank and file job. This amount that I lost can already fed me for 1 full month. I want the people to know that I got scammed and the name of the broker is SKYLINE MARKETS. This fake brokers should be wiped-out online or a massive “info” dissemination should be made to prevent people from further being scammed. Please help me spread it. They are now posting on Facebook walls and I’m sure if no forewarned is being made, more people will fall prey and lost their hard earned money. Once more, please take note, the name of the broker is SKYLINE MARKETS! Thank you very much!
How about Daily-Trades? My business partner in Belarus had been requesting her funds since May and she keeps getting the runaround. First they were non-responsive and once I started assisting her using my American force and nastiness, in mid August, they started promising the funds would get to her the next week. Now they have been doing this “it’s coming in 2-3 days” for the past 6 weeks with one lame excuse after another and continuing to ask her for more and more documentation. What can she do? Why don’t governments go after and shut down these scams.
The company I was trading with was taken over by another company named Ridge Capital Markets supposedly trading from an office in Zurich , Switzerland. I got my deposits returned from the 1st company but not the profits which were transferred to the takeover company. I started with the new company November 2020 to try and get my profits out and they convinced me that a financial analyst (Joe Davis) would speak to me about investing it with them in a managed account. I agreed to try it. Over the next four months I invested US$80,000 in regular deposits and built my balance to about US$113,000 which was a good profit.
During that period I only had 2 lost trades.
They then started to trade large money on a single trade of US$30,000 which lost. I questioned them about the size of this trade as I was not happy with their risk management and became suspicious. Over many weeks I asked for withdrawals for the first time and they became very difficult and did not honour any withdrawal and tried to convinced me with a measly $5000 withdrawal.
I then asked them to stop trading my account which they didn’t. I then asked them to close account and return my money which they didn,t do.
I manually stopped their trades on the Metaquotes MT4 trading platform which was quite a task. I kept asking to close the account without success.
They then proceeded to use trading software from their server which I could not stop and traded me down to nothing within 2 days. I spent money investigating them without success. Metaquotes would not help in tracing them. Their Bank in Sofia, Bulgaria would not help. The Swiss authorities would not help as I was told by my investigator. They are still trading through their website http://www.RDCM.com (Ridge Capital Markets) and the company Ridge Group Limited has an address in the Dominican Republic. They have still got a trading office address in Zurich, Switzerland and are still trading so stay clear of them if you value your money.
I i am misled by pwrtrade.com and have lost 47000 euro.
the first demand of withdrawal made no problems, but the 2nd was unsuccessfull (8000 euro-refused).
to come in contact with fellow-vctims i opened a Facebook group #powertrade .
you can Always join this group in order to bundle actions we can eventually do)
Being the originator of the Binary Option concept I want to reveal to all traders that the way the trading system has been made to work, since my artwork for my inventions got thieved years ago, is so that the money a person invests goes into the company bank and its directors pockets, never to be deposited into one’s own bank account. If you can get money transferred from a trading platform into your personal account then that is amazing. What is more amazing is if you can repeat that process many times after the first. Why that doesn’t happen is because of how the trading software has been designed to work. The many little wins one gets is designed to generate the greedy element in a trader so that the next investment is bigger for more financial gain but the result is often a loss and that takes a lot of trading to recover from. In the mean time the brokers go home with fat fists of money gained from their practice. That is why they are called brokers! My loss to Broker Capital Ltd. is $85,000. USD after the company notified me it was ready to be transferred back. It simply closed its doors and shut down their website. My total loss to the binary trading scam system is $400,000 AUD. The industry is one melting pot of many brokers that systematically do their little bit to suck your funds out of your bank accounts. When a trader is dissatisfied with one trading platform there are many others ready to continue the run out of the traders funds by the use of one or another scam technique they use to gain someone’s confidence and that is when a person is most vulnerable to the scamming brokers who present what is said to be a good opportunity to make some money quickly but ends up being bad advice. Be aware of the scamming methods used by brokers.
I surprised that KSFTRADE broker is not included in your scammer list , they are pioneers in frauds and scams .
when my balance with them reached 118000$ , the account manager vanished and all other company staff , the same happened with 10 persons of my friends , the only person who contacts traders is the account manager with skype name .. No. support or any other way of commutation with them even if you dont have any problem , they call you only to deposit money then no answer> they just collect money and vanish.
Please take a look at their reviews and victims on the internet
If you been scammed by IMB trading, please come and join us at: https://www.facebook.com/IMBTrading
Anybody been scammed by imbtrading.com? 2 weeks ago they closed their website and the phonenumber in both UK and USA stoped working. I dealt with a man named “Daniel Foster” and “Mark Smit”
Everything worked great for months but when trying to make a withdraw 2 weeks ago they vanished from the internet
The website is registred thru godaddy.com and email is behing domainsbyproxie.com
Broker Name: Michael Brooks
Account Number: 16632272
Investment Company: Globus Capital Limited
Hi. I have been investing with this company since February this year. When i began with them they looked so Genuine and would always update me with everything going on with my account. But for the past two weeks they have not been communicating, their website in no longer available, my account has not changed their phone numbers are no longer working. I am worried and i don’t know what to do. What bothers me is i referred 4 other people to invest there and they too are facing the same problem as i am. How can these be brought to book and on legal grounds how can we pin them down. If anyone can help please it will be greatly appreciated.
I spoke to lawyers in the UK. They have not assets in the company. Thus one cannot sue them. You can list your claims with the houseofcompanies in the UK. This will increase the length of time they have before they can file for bankruptcy. Other then that i am not sure what to do.
Globus was registered with the FSB so they enity cannot help us. I am actually wondering if it is worth visiting them in the UK however I do not think it would help much/
EA Mbot News Trader
EA Mbot News Trader – эксперт, в основе которого лежит классическая стратегия торговли на новостях. Для работы советника необходимо настроить время выхода новостей, все остальное робот сделает автоматически.
Советник работает отложенными ордерами как на пробой, так и на откат цены. Перед выходом новости, на заданном расстоянии от текущей цены выставляются два отложенных ордера, как только срабатывает один из них, второй удаляется. Для сопровождения открытых сделок алгоритмом используется трейлинг-стоп. При отсутствии движения цены после релиза, оба ордера через заданное время удаляются.
Рекомендация по торговле
- Величина лота 0.01 при минимальном депозите – 100$
- Рекомендуется протестировать советника на демо-счете, чтобы понять, какие настройки использовать для котировок вашего брокера
- Возможна оптимизация для работы на любых инструментах
- Для торговли рекомендуется выбирать ECN-брокеров с низким спредом и проскальзыванием
MagicNumberEA – уникальный номер, по которому робот определяет свои сделки
slippage – максимальное проскальзывание в пунктах
lotMode – настройка лота
- LOT_MODE_CONST – режим фиксированного лота
- LOT_MODE_STEP_BALANCE – режим автоматического лота с шагом лота и баланса
- LOT_MODE_DEPO_RISK_PER_ORDER – режим автоматического лота % риска от баланса
- lotConst – объем сделки при режиме фиксированного лота
- lotModeStep_BalanceStep – шаг баланса
- lotModeStep_LotStep – шаг лота. Например, при указании шага баланса 100 и шага лота 0.01, на каждые 100 у.е. баланса будет открываться 0.01 лот соответственно.
- lotModeDepo_riskPerOrderPercent – процент риска от баланса. (1-100%)
timeSettings – настройки времени
- timeOfNewsLocal – дата и время выхода новости по локальному времени
- secondsToStart – время в секундах до выхода новости, когда устанавливаются отложенные ордера и удерживаются на заданном расстоянии до текущей цены
- secondsToCancel – время в секундах, после которого отложенные ордера удаляются
priceMode – режим торговли
- PRICE_MODE_DISTANCE – режим торговли по дистанции
- PRICE_MODE_D1 – режим торговли по уровням D1
- PRICE_MODE_W1 – режим торговли по уровням W1
- PRICE_MODE_D3_FRACTALS – режим торговли по локальным максимумам/минимумам
- inpDistanceToBuy – расстояние Buy ордера до текущей цены
- inpDistanceToSell – расстояние Sell ордера до текущей цены
- inpPendingOPModifyStep – шаг изменения цены ордера до выхода новости
strategy – выбор стратегии для торговли
- STRATEGY_STOPS – стратегия на пробой цены. Выставляются 2 ордера, Sell Stop ниже текущей цены и Buy Stop выше текущей цены
- STRATEGY_LIMITS – стратегия на откат цены. Выставляются 2 ордера, Sell Limit выше текущей цены и Buy Limit ниже текущей цены
- STRATEGY_BUYSTOP – выставляется Buy Stop ордер
- STRATEGY_SELLSTOP – выставляется Sell Stop ордер
- STRATEGY_BUYLIMIT – выставляется Buy Limit ордер
- STRATEGY_SELLLIMIT – выставляется Sell Limit ордер
- deleteRemainingOrder – вкл/выкл удаление второго отложенного ордера после открытия сделки
- deleteUfterTimeCancel – вкл/выкл, удаление отложенных ордеров после окончания времени
- StopLossBuy – настройка защитного ордера в пунктах для сделок Buy
- TakeProfitBuy – настройка ордера в пунктах для сделок Buy
- StopLossSell – настройка защитного ордера в пунктах для сделок Sell
- TakeProfitSell – настройка ордера в пунктах для сделок Sell
- SizeTrallStart – расстояние в пунктах, при прохождении которой включается трейлинг-стоп
- SizeTrall – дистанция трейлинг-стопа от текущей цены
- SizeTrallStep – шаг трейлинг-стопа
- NPipsTurnOnNoLoss – расстояние в пунктах, при прохождении ценой которого защитный ордер stop loss переносится на уровень открытия
- NPipsShiftNoLossProfit – смещение безубытка в пунктах от уровня открытия
- drawBuyLevels – отображение верхних уровней
- drawSellLevels – отображение нижних уровней
OtherVariables – другие настройки
- ordersCommentConst – комментарий к ордеру
- sleepIfFailedMs – пауза в секундах, при неудачном запросе
- stopTradeSignalIfFailed – отмена сигнала при возникновении ошибки
- displayComment – вкл/выкл информационную панель
- displayPrint – вкл/выкл логи эксперта в журнале
- messageType – уведомление об открытии и закрытии сделок (алерт, E-mail, Push – уведомления)
Perfect For Beginners and Middle-Leveled Traders!
Free Education How To Trade!
Free Demo Account!
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Good Choice For Experienced Traders!