If you want to trade for profit, invest in a decent Forex trading robot or software for automated trading signals. The main problem of most trading robots is that they are nothing but black-boxes. If you do not know the internal logic of the trading robot, if you cannot control the parameters, then you do not know what to expect and are not able to correct the robot’s actions if necessary.
Best Forex Robots
An interesting development of Forex robots has been the introduction of semi-automatic robots. These type of robots aim to combine benefits of a fully automated system but remove the risks associated with handing over complete control of your account.
A semi-automated robot can still run 24/7 and perform very complex analysis on price movement to identify trading opportunities but rather than automatically enter a trade, you can switch to manual mode in which the robot will provide you with trade information so that you can enter the trade yourself. You will be given entry price, stop loss and take profit details. Usually the trade information will be sent directly to your trading dashboard via an app so that you can be informed of trading opportunities even if you are away from the computer.
There are only two options for automated trading systems:
- Buy a fully transparent and customizable Forex robot
- Find an automated trading system that is connected with a licensed broker
Top 3 Automated Trading Systems/Robots
We have conducted a lot of research into a lot of Forex robots and here is a summary of what we believe are the best and profitable trading robots available right now.
Investors seeking an automated trading robot or trading signals, will find hundreds of apps and software available. We have reviewed many of these products, in our quest to find the holy grail of trading.
When we tried to find a Forex robot that works, it is safe to say that 99%, do not work. Most of them ended up being no more than a “Get Rich Quick Scam”.
With DaxRobot, We are indeed quite happy that we now have a trading platform that allows us to trade virtually all asset types. It definitely helps make life a lot easier. The DaxRobot platform is finally here, and it is already allowing people to make big time profits through day trading.
New style of automated trading!
Daxrobot is a Forex and CFDs automated trading system. The first thing we checked was how the robot works and the kind of promises that the sales page makes. From what we can see, there is a huge potential for this robot to make a lot of returns. Daxrobot website also has a chat feature where we can get to ask questions and speak to a live chat agent. This is a positive thing because instead of sending emails to get responses after a while, the team behind this operation have made it easier for us to speak to them in real time.
Minimum Deposit: $250
How to decipher between a scam and genuine auto trading software
Now before deciding whether it will be suitable to opt for an auto trading software, you first have to decide whether it is genuine. Keep a watch for the following aspects. These are red flag alerts for you and prime indicators that the software is a scam.
- Usually, the scam software does not have any relevant information on the website. This is the foremost indicator that the software is a scam, and you have to avoid it by all means. Usually, such websites have promotional videos that entice you to opt for the software.
- The scam websites do not state the method of use and do not reveal the features of the software.
- The scam software websites do not reveal the broker they are linked to and promise unnatural amount of profit.
On the contrary when you are opting for a genuine Forex and crypto auto trading software following are the key indicators that show you are moving the right direction.
- The website will have all the details you need.
- The features of the software will be listed in detail.
- They will reveal the deposit amount plus the broker that they are linked with.
- You will be guided in detail to use the software, and they will be less promotional content.
More details about DaxRobot
Daxrobot is basically a collection of automated trading strategies which can be turned on or off depending on which strategies you want to utilize. These strategies are basically a collection of in-built trading indicators and that means users must pick which indicators they wish to work with.
These strategies or robots have different levels of potential income, so this is one of the things you will consider when selecting the type of trading strategy to use with the robot. Once you select the strategy, it will automatically start to build your account balance. But the robot has to be launched in the final step before it can start trading according to the selected strategy.
From the screenshots, we can see that Daxrobot is trading a lot of asset pairs which include Forex and CFDs. With that variety of trading assets to make money from, Daxrobot ensures that everyone can trade the type of asset they feel most comfortable trading. You can even trade stocks with this app, which is a plus for those who love trading stocks.
The robot is web-based meaning that you do not have to download anything in order to access and start using Daxrobot. Nowadays many developers are utilizing this approach because they find it quite convenient to do so and also to the customers whom they intend to work with. Somehow, majority of people who prefer these trading robots don’t like downloading them. Web-based trading is even convenient when you consider the fact that many people are starting to trade on the go, that is on their mobile devices and that means web-trading will naturally be highly favored compared to downloading a trading platform which can be cumbersome in order to trade.
Getting started with Daxrobot
The process appears to be very simple. You are going to pick any of their recommended brokers to work with. This is essential because if you don’t, then you cannot use the software. But if you do, you get to use the software for free such that all that will be required is your deposit into your trading account.
In our opinion, this is a fair deal where both parties feel comfortable. The developers of Daxrobot appear to have worked really hard to come up with this kind of a web based platform. It’s only fair that they should be compensated for their efforts in terms of commissions. So if they are going to let people use Daxrobot without a license, then it simply means that they will factor their commission into the deal which they have with these brokers. You don’t have to know about it because it does not affect your trading experience in any way.
Funding your account
Thanks to the kind of brokers that Daxrobot is working with. Traders can use credit card or Crypto currencies to fund their trading accounts. One of the problems that traders face is related to limited forms of payment that some brokers support. But in order to accommodate all customers, it is the responsibility of the broker to ensure that they are supporting whatever means of payment that a customer wants to use. So Daxrobot has got you covered in that area as well.
Also, the minimum deposit is very much affordable as it’s within the reach of many traders. $250 is a fair amount of capital. You don’t risk too much and at the same time, you are not under funding your trading account. Minimum trading amount is $1. So that means you can enter contracts that pay $2 when you’re only risking an insignificant amount of your trading capital.
Users of Daxrobot can earn varied amounts of income based on their pre-defined level of income. This is a setting that can be found on the Daxrobot platform. The kind of settings to use depends with a lot of things such as the amount of money you have in your account and other things. But according to the sales page, we can double or even triple our investments in a day.
Daxrobot is a new trading system and that means you won’t find a lot of feedback out there concerning them. But we can rest assured that these will come after some time. The reason why we recommend Daxrobot is that there is limited risks associated with using this app for trading. The minimum deposit is affordable and safe because you’re not sending a figure like $1000.
Seemingly legit and genuine FX and crypto trading bots present themselves with an array of colorful testimonials and promises which are meant to be broken. However, once in a blue moon a truly genuine system is launched and that is when our staff takes the time to evaluate it. It’s worth noting that we rarely endorse new systems, but DaxRobot is rare since it integrates with regulated brokers which is not something we see every day. Keep reading our detailed DaxRobot review and see if it can help you generate money as well.