What To Look For When Evaluating Forex Robots

The foreign currency market is literally inundated by launches of new automated robots

at this point and picking a forex robot to risk your cash on is becoming a lot more difficult. This article will show you how to dig through all the nonsense out there and target the products that genuinely present promise.

Unfortunately the forex robot market is a little bit of a minefield at the moment because of all the ripoffs and false claims. The important thing to keep in mind is to look past the hype and zero in on the facts that are available. The initial factor that I use as a filter is the level of proof they use inside their sales copy. If they give live account statements that are updated in real time it is a positive sign, but when they merely present backtesting reports this is already a warning sign. This test alone will help you avoid 90% of the scams out there..if you see only backtesting reports and no live statements, stay away.

The next matter to look at is the overall message delivered in the sales copy. If it is a classic marketing pitch with large red headers and assurances of doubling your bank account each month then you should already exercise extreme caution. I have purchased lots of these robots through the years and when it looks too good to be true it usually is..trust me on that. The top services out there are usually the ones that have less elegant looking web sites and more realistic offers. The simple fact is, no forex robot can consistently double your money each month..if you see these kind of promises it's normally best to steer clear of the product. If the product offers realistic dividends like 10% per month I am immediately interested.

Another thing that you should definitely look at is the refund policy. If a good 30 or 60 day "no questions asked" refund policy is offered, then it is quite often safe to get the product on a trial basis and evaluate it on a demo account. Just ensure that that you seek out any terms and conditions that will keep you from obtaining a refund later on. It is often times necessary to prove that the service did not work for you before you can get a refund, so ensure that you keep copies of you demo account statement just in case this is demanded later.

Generally speaking it is good to wait until there is some real consumer feedback about the product before you buy. Never get intimidated by warnings that the system will go off the market or that there are only minimal copies available. I would rather miss out on a possible opportunity than hurry into something that turns out to be a rip-off afterwards. If it is a good product then it will ordinarily be in the marketplace for a long time, so there is no need to rush.

Make use of the above strategies and you'll without a doubt avoid a lot of the scams out there.

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