If you’re thinking about buying a forex robot to automate your trading activities, you would be well advised to do a little homework. Here is a list of the top ten, surefire signs the robot being offered probably isn't worth the time that went into developing it. 1. The robot isn’t offered on a free trial basis. If the developer isn’t willing to allow you to back and forward test it using a demo account before you buy it, it's highly probable the results you see posted on his website are contrived.
2.The developer's website features an endless stream of thank you letters and endorsements from existing clients. If a developer offers his robot on a free trial basis (by that I mean free trial, not a trial accompanied by a money back guarantee), do you really think he would see the need to post a bunch of self-serving endorsements to get traders to buy it?
3. The developer makes outlandish claims about profitability. If it sounds too good to be true, you can be assured it’s too good to be true.
4. The developer puts a limit on the number traders the robot will be sold to. When a developer uses this kind of ploy to generate a sense of urgency, you have to know he’s a scammer because he is appealing to emotion not intellect.
5. The developer tries to sweeten the pot offering all sorts of free forex related crap. If a robot isn't worth anything in the first place, how does it's value increase when accompanied by more crap?
6. The developer's website is a single page that scrolls to China.
7. The developer does not provide contact information or doesn't respond if he does provide one.
8. When inquiries are made the email bounces back as undeliverable.
9. The developer posts the logos of major media outlets at the top of his webpage, e.g., Wall Street Journal, CNN Money, Forbes, and FoxNews. While no claim is actually made that any of these media moguls has published or broadcast a story about the developer's robot, few visitors bother to read the graphic text - "Forex As Seen On" - adjacent to them.
10. The developer does not honor his stated money back guarantee. It goes without saying but the trader who gets to this point has been had and there's nothing much he can do about it.
