Welcome to our exclusive Fx Master Bot Review. In this review, we will discuss the facts and different aspects of this software. We will also show you the top rated social trading programs as well as teach you some simple ways you can avoid forex scams.
Here are the key points in which we will discuss today in our Fx Master Bot Review.
- What is the Fx Master Bot?
- Who created this Bot?
- How does this robot work?
- How to configure it.
- Does it work for real?
- Is it a scam?
- Best alternative to this trading software.
- The truth that you don’t know!
Official Website: https://fxmasterbot.com/
Fx Master Bot Review – What is it?
The FX master Bot is an automated forex trading software that trades automatically in your brokerage account. It will allow you to trade and gives you a hassle-free trading experience.
They offer 3 different plans which are:
- Novice Plan – Offers multiple brokers, 3 different currencies and you can only open 3 trades at a time.
- Expert Plan – Offers the same brokers as the novice plan, 9 different currencies and you can only open 9 trades at a time.
- Master Plan – Offers the same brokers as the novice and the expert plan, 17 currencies and you can open unlimited trades at one time.
Note: You don’t really need to deposit more than $250. The Novice Plan will work perfectly and works better than all the other plans. You shouldn’t open more than 3 trades at one time anyway. That’s just our expert opinion.
FX Master Bot developers do not offer plans anymore, you just have to sign up, select their recommended broker and start trading using their Bot. The bot can trade 17 forex pairs and 5 cryptocurrencies.
They also have added a new signal delivery system that can generate cryptocurrency signals to use it manually on other brokers if you prefer that instead.
With that being said, that doesn’t make the Fx Master Bot a legit auto trading software.
According to Whois.net, the website was created in July 2017. This doesn’t give them any authenticity to trust them when it comes to forex trading as there are a lot of scams in this industry.
When you deal with anything online that accepts your money, time is a significant factor to consider to determine whether that thing a scam or not.
Who Created Fx Master Bot?
We researched every single page that is listed on fxmasterbot.com, but we were unable to find any information for any person name or a company.
The person who is behind this trading bot has done an excellent job hiding his information from the public. We tried to research all the legal information attached to fxmasterbot.com, but we couldn’t find any information to add to this Fx Master Bot Review that could benefit us. That is a big indicator that FX Master Bot is a potential scam.
Tip: If you can’t find any information on any kind of investment program/website, consider it a scam.
How This Bot Works?
When you signup with Fx Master Bot, you will be asked to choose one of the plans that we mentioned above, Then you will be redirected to a broker.
You will most likely end up with an unlicensed broker that will steal your money. If it happens and you were able to get a regulated broker, and funded your account, all you need to do is to turn on the Auto Trading option and trade. The software will start executing trades automatically into your brokerage account.
How To Setup the Bot
If for any reason you decided to open an account and give the software a try, these are the best settings for it.
Choose the short-term trades and turn off the reverse trading option. Set the Max Daily Trades to 7 and daily stop loss to 5.
Note: This is NOT an investment advice. The expected performance results differ from the actual results.
Does Fx Master Bot Actually Work?
Our simple answer is: No.
The reason is simple. They keep sending you “normal trading signals” every 1-2 seconds. These signals are not based on any kind of forex indicators or fundamental analysis. It’s just a software sending you normal signals for you to execute. It would be better if you actually trade on your own and NOT use the FX Master Bot.
Is FX Master Bot A Big Scam?
Our honest answer is: Yes
There are so many reasons why we think that this is a big scam. First, the creator of this scam not only purposely hid his true identity but also uses a lot of unregulated brokers who will steal your money and will never honor any withdrawal request. That’s in addition to the fake trading signals of course.
One more thing is that this software is supposed to be trading “Forex” using an automated trading system but you will find that all the brokers synced within the software are a bunch of unregulated Binary Options brokers that most likely use fake trading robots.
Thanks to our team of researchers who tried to make this Fx Master Bot Review as best and unique as possible we were able to create multiple accounts with different IP addresses from different countries, but not even one time we were able to find a forex broker. All of them were Binary Options. Please note that all of these scam brokers have numerous complaints about brokers registered online.
Our Best Alternatives & Recommendations
First, we do not recommend trading using any kind of software that allows robotic trading, especially those who are being advertised heavily on the internet. Profitable trades rarely come from forex signals alone.
Remember to always use a wise money management plan when trading with forex and binary. Many forex experts recommend using advanced settings to trade popular currency pairs. Your trade volume should always be based on the currency strength which is sometimes something only master level account traders have educated knowledge about.
The forex and binary options industry is full of fraud as well as scam crypto systems as well. But we do have something better than any kind of forex robots while at the same time still delivering a high result without any experience needed. Below is the list.
You might think you need to go to forex school and study forex news to learn the ins and outs of forex investing. The good news is that the forex markets are something you CAN learn or you can let master level traders help!
The minimum deposit for each of the below social trading forex brokers is $250. Please email us for our own performance results and trade results based on opening deposits of $250 and higher.
eToro Review – Is our 1st top regulated social trading broker. Harness the power of the crowd and talk directly with professional traders before you copy them. They offer a top-notch variety of tools that will help you increase your investment portfolio.
The Naked Truth That You Don’t Know!
There are so many things that you don’t know about the Master Bot trading software. This entire project is most likely created by one of the unregulated binary options brokers that are synced to the software. It is being advertised heavily on the internet by a bunch of affiliate marketers whose only goal is to scam you. Many of these people will also offer managed accounts that they claim are low risk. This is another popular broker trick to lure you in. Therefore we recommend you to stay away from any website that promotes this scam.
Thanks for reading our Fx Master Bot Review! Please send us your opinions and share this post with your friends and social media! Take a quick look through our recent posts as well to see other scams you should avoid.
Stay safe online and as always…