1901 asked: I want to get a Forex Robot, I heard Ivybot (http://www.forexautoprofitbot.com) was good but I don’t know if these robots are legal and in they really do work. Can anyone guide me?
If it’s a scam (well, it does sound like one), could you tell me your experience with it? thanks.
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July 17th, 2009 at 9:24 am
They do not work, it is that simple. If they really worked the people who created them would not have released them. IT IS A SCAM!
July 18th, 2009 at 9:49 am
The Federal government warns there are a lot of Forex frauds out there, and these Forex robots appear to be one type of these scams. If these robots really worked, there would be scads of articles about them in the Wall Street Journal and other financial publications talking about them. When I do a web search, I can not find a single reputable news article encouraging the use of Forex robots. The link below is a Federal website warning you about Forex fraud.
There are a lot of people on the Internet claiming they have done very well using Forex robots. These appear to be of two types. One is the outright liars. You might meet a person called “Zboy227″ who says “I made a lot of money using ScamRobot2000, go to their website at ScamRobot .com/Zboy227.” The “/Zboy227″ tells the website that Zboy227 has referred you. If you buy the product, Zboy227 gets a commission. He is only lying to you to get a commission.
There is a lot of luck in Forex. Sometimes you will run into people on the web who have tried a robot for a few days and have had some beginner’s luck with it. They start bragging about how well they have done. Later, they start to lose money, but they rarely get back on the web and talk about how much money they lost. People like to brag about their successes, but rarely talk about their losses. The result is that much of the feedback about these Forex robots is positive.
I may point out that websites that sell Forex robots admit there are a lot of scams out there. Of course they claim the other guy’s robot is a scam, but their robot works. If you do a web search on the words “forex robot” and “scam” you will find a lot of sites saying their competitors are scams.
I will admit I have not personally tested every robot out there, and I can not prove they are all scams. But I would be very hesitant to spend a lot of money on a robot without clear proof it really works.
July 21st, 2009 at 4:12 pm
Don’t use robots, it’s always better to trade using your own mind.
If you are a beginner, i suggest you to use Marketiva, which is a very good platform to start trading with and very easy to use.
Marketiva gives you 5$ real to start trading so you don’t have to deposit and if you made profit from it you can cash out, this is why it’s very good for beginners. Their platform is very easy to use and they have support during trading hours.
To open your account please visit
July 21st, 2009 at 4:55 pm
IVYBot is a new one and it could take some time to prove itself however i can recomend it.
You must spend some time learning how to use it.
here is a review about IVYBot and two other
P.S forex robots are legal (the legal term is forex advisor)
July 24th, 2009 at 2:49 am
I agree there are a lot of scams but I think robots have a place in forex trading. They cut the learning curve so much for beginners. The only thing is to look at these robots as tools to help you. Don’t think they are money printing pressess.
I’ve tried Ivybot and I think it’s the best so far that I’ve tried.
July 25th, 2009 at 12:47 pm
You see with so many tools and systems available, much of your trading can be automated, or at least signaled by software algorythms. This is a great advantage, since the main reason that someone fails in any trading environment is the emotion and judgement factor. If you take emotion out of trading, your success is much more likely.
July 27th, 2009 at 4:32 pm
Robots can be hard to set up, many are scams, and full automation always brings extra risk (which is not a good thing in an already risky market).
A good signals package as a guide + your own knowledge/training > robots
July 27th, 2009 at 10:20 pm
didn’t find any answer ?, you can find books, tutorial, video, chart, prediction about forex here: