Forex Bots Scam??

Trenton · (#1 (**permalink**))

As a newbie to this forum AND forex in general I am a little confused about several things. I have been bombarded lately by some ads for the forex Autocash bot. Are bots the way to go??. I have read through some reviews about Forex funnel ect but I'm not too sure to just let a bit of software do everything. I also don't have the resources to get scammed too many times so whatever decision I make it needs to more or less correct.

I have also got to think if a signal provider is also worthwhile. I feel like a goldfish swimming with some very hungry sharks right now so if anyone has advise much obliged

Pharaoh · (#2 (**permalink**))

Hey Trenton,

They've been advertising all over the place and getting onto a bunch of mailing lists. There's already a discussion thread on them in the Scam Alerts Folder here:

Forex AutoCash Robot - Never loses - SCAM

I think there have also been some reviews left for them under Forex Software.

As for signals providers, it's so hard to say. I followed a good one for a few months, then they crashed and burned for a few months. It looks like they are finally about to regain their stride, so I may start following their signals again soon.

Regarding feeling like a goldfish among the sharks, you are correct. It's not paranoia if they really are out to get you. You might be able to find something useful to buy among all the forex products out there, but well over 90% of them only make money for the person selling them. You might find this article to be useful:

How to avoid getting scammed when buying forex products

Trenton · (#3 (**permalink**))

Many thanks for the reply and the links to look through. One thing I have noticed when reading through web sites for the bots ect is the blurb is to ""hurry up and act now before the price goes up" or it's "taken off the market" ect ect. One thing I will have to keep in mind is Forex will be here for a very very long time so not too act too quickly,act in haste,repent at leisure.

lion · (#4 (**permalink**))

Good theme. To me too many times there were deceivers brokers Forex.