There are multiple reasons why the Forex robot marketplace is often considered a scam.
- The market was started by a rush of internet marketers looking to make money off of Forex traders.
- Traders / Clients expect to “get rich quick” and proclaim anything that takes effort a scam.
These are the two main aspects we cover in the podcast, and they are both very interesting topics.
It is true, that when this market started it was filled with marketers trying to take advantage of Forex traders. This last for a couple of years, but over time over 99% of these marketers have left for greener pastures. Many of them left to binary options, and the rest to crypto currencies. Now, the only developers left are traders, coders, and people who are genuinely interested in Forex. Which makes now a great time to be involved in automated Forex trading.
The second topic, puts blame on the clients and it’s quite accurate. There are too many traders or non-traders looking to make a quick buck, and not willing to do any work. There are simply way too many negative reviews for products based on 1-2 weeks of use. Trading systems and strategies fluctuate with the market. If you aren’t willing to deal with a learning curve, and test adequately, you won’t be successful. By that same token, the people who always seem to win, will win, and the people who always seem to lose, will lose.
Understand your role in trading, and understand Forex robot’s are not a scam.