In this review you will learn everything important about the FX AutoBot scam that is trying to make you believe it can make you money in financial trading.
Our detailed analysis shows what FXAutoBot is really about, how it works, how it will lose your money and who is behind this fraud.
What is FX AutoBot
FX Autobot is a trading software for financial markets. It will provide you with trading signals for assets like currencies on Forex and cryptocurrencies. Its authors claim that is a revolutionary software.
The main features of FXautobot supposedly are:
- high accuracy trading signal for Forex and CFDs
- signals generate “substantial profits” for you (thousands of dollars daily)
- it will generate an “incredible income” for you
- it will “solve your money-making problems”
- it is based on retracement patterns
All right, so it is a software that allegedly will make you thousands of dollars per day. So, how much does FX AutoBot cost? Nothing. The first six months are completely free. After that you will have to pay a 5% fee on your profits.
So, basically, FX Autobot is risk free, isn’t it? Well, not so fast…
Is FX AutoBot legit?
No, FX Autobot is not legit. It is an illegal trading software. Here is why. FX Autobot claims that it will solve your money-making problems ant that it will generate you an incredible income in the magnitude of thousands of dollars per day.
But such claims are forbidden by the laws. Either you can prove these claims, which you can’t, because in financial trading guarantees are impossible, or you cannot prove these claims, so you cannot use them.
In most countries it is illegal to claim that a software related to financial trading will make you easy money, which is exactly what FXAutoBot does. Therefore, it is an illegal software that is breaking the laws in virtually every country it is targeting.
FX AutoBot scam
Not only FX Autobot is a piece of illegal software, but it also is a scam. We are going to prove this fact in this review.
What scammer often do, is that they promise you the moon in their videos and texts on their websites, but when you read their terms and conditions, you will learn that reality is quite different.
And this is precisely what FX Autobot does. On its website it promises you thousands of dollars in profits per day, an incredible income and the solution to your financial problems.
On the other hand, if you check their terms and conditions, you will learn that you should never take information they provide at face value and that if you follow what they say in their video, you can expect to lose money. Check our picture below.
So, FX Autobot is openly lying in order to make you sign up for their product. They are also lying about its price, because you will be paying them indirectly since the first day. Meanwhile after six months you won’t be using their software because it is a losing scam, therefore you won’t be paying them the 5% fee.
From infamous scammers
We have been reviewing investment scams for seven years, so we have seen a lot in this space. We also know that scammers have their networks of websites and YouTube channels they use to promote their scams.
FX Autobot is a product of one of these scam networks. The same network is behind scams like Copy Soros, FX Robotix and BLW Trading Academy. They keep releasing new fraudulent programs all the time. And every time it is the “real product”, the “real solution” that will make you financialy free.
If only a single one of their products worked as advertised, we all would already be millionaires. And these scammers would be extremely rich just from using their software for financial trading.
Yet, they have the need to release a new miraculous trading software every few weeks. Each time for free. Isn’t that weird? It only confirms their products are crap, they need to scam people in order to make money, they don’t know how to make money in real trading.
Why FX Autobot can’t work
FX Autobot has a major flaw that you can probably spot only when you are an experienced trader. The thing is that it provides entry signals only, which are worthless, because they are not paired with signals for exits.
In trading exits are as important as entries. Almost every trade you will ever open will get into profit for at least a few ticks (pips). Then it can continue in your direction or it can go the opposite way. You cannot be sure. Knowing when to exit a trade is one of the most important things in trading to be profitable.
Yet FX Autobot will only tell you when to enter. Which is insufficient and it makes the signals worthless. When you look at FX Autobot reviews on YouTube, they will tell you that you should exit when you consider the profit good enough. Such an answer can be only given by either scammers or people who know nothing about trading.
Because you never know how much the price will move in either direction. You have to have a clear set of rules not only for entering, but also for exiting trades. Trading is about managing risks and probabilites. You cannot leave any of this to your feelings or opinions, it would lead you to emotional trading, which means losses.
The way FX Autobot is built shows it was built by amateurs who know nothing about trading.
FX Autobot fake reviews
Speaking of FX Autobot reviews on YouTube, there are numerous fake reviews showing nice profits with the system.
We studied closely some of them and we know they are fake. They won’t show you real live trading. They open trades, then they pause the video and show you closed trades hours after their alleged end.
It is obvious that scammers who make these reviews wait for the price to evolve, close the trades and then edit the source code of the webpage with results to create fake results with substantial profits and just a few small losses.
It is very easy to edit what you see on your computer screen, you can do it in any web browser in a matter of seconds. This is why there is no FX Autobot demo mode, it would expose the fact that this signals system is not profitable.
Plus, these positive reviews are released by people who have supported many scams in the past, as we have already explained.
FX Autobot registration problems
If you have problems registering for FXautobot, you are a happy person. If your registration is denied because a suitable broker is not available for your country, congratulations, you just saved money.
What we are saying here is that you should not even try to sign-up, because the FX AutoBot platform is a scam. They restrict the registration to some countries, because they want to avoid countries that prosecute scammers the hardest way, like the United States.
These fraudsters are therefore targeting only countries where they believe they will be able to stay under the radar. But sooner or later, they will get caught, it is just a matter of time.
How FX AutoBot works – the truth
In order to fully understand the FX AutoBot scam, we need to explain in our review how it really works.
Let’s start from the end. Brokers that allow people to trade financial markets have referral programs. It means that you can get paid for referring new customers to these companies. It is perfectly legit and normal, it is a common practice in many industries.
What scammers do is that they abuse these referral programs. They know they will get paid from brokers if they manage to make people deposit money with them. So, they use lies about miraculous trading platforms like FX Autobot to make you deposit at least 250 USD with their affiliated brokers.
It is as simple as that. Honest websites will explain that financial trading is never easy, that it requires a lot of testing and learning, and that no system will be making you thousands of dollars per day on autopilot for free.
Scammers, on the other hand, keep releasing trading systems that promise easy daily profits on autopilot. The only condition to get such a system is to sign up and deposit with their specific broker, you cannot choose your company.
Now you know why. Owners of FX Autobot get paid by certain brokers for referring new depositing clients. At this time, they send people to 24option, which is a regulated broker that can get in trouble because of the cooperation with FX Autobot.
If you are still considering FX Autobot, we encourage you to contact 24option first and ask them about it. Show them that FXautobot is promising easy daily profits on autopilot while referring to 24option and you will see their reaction.
24option is regulated by the CySEC and should this regulator learn that the broker is accepting customers from a scam like FX Autobot, it will mean big problems.
You can contact not only 24option, but also the CySEC and ask them about the connection between FX Auto Bot and the broker. You will see that the regulator will confirm what we say and take action.
Already lost money with FX Autobot? Do this
If you already got scammed by FX Autobot, try to recover your money.
Follow these steps:
- Contact the broker you lost your money with. At press time FX Autobot is referring people to 24option, so it might be 24option.
- Ask the broker to refund your deposit. Explain that you got scammed by an affiliate of the broker, which is FX Autobot that promised you easy money thanks to profitable signals.
- If the broker is 24option and it refuses your request, tell them you will report this scam to the CySEC, because FX Autobot is an illegal affiliate of a regulated broker.
- If the broker is another company, check if it is regulated and threaten to complain to the concerned regulator.
- If the broker is not regulated, tell them you will complain to authorities and initiate a chargeback on your deposit.
- If nothing helps, proceed with the chargeback. If you made your deposit with a debit or credit card, ask your bank to do the chargeback. Explain how you got scammed.
- If you sent the payment via a third-part provider, contact this provider and ask for a refund.
- If it was a bank-wire, ask your bank what can be done. Ask the same question the bank of the recipient.
In any case you can contact the national financial regulator in your country and let them know about the FX Autobot scam. You will get a confirmation of what we say in our review.
How to avoid similar scams
A lot of money can be made in trading, but a lot of money can be also lost. Financial trading is not easy.
If anybody is promising you easy money from trading, it is a scam. There is no such thing as a free system that will make you money on autopilot or with just you clicking the trades. All these systems are scams that work in a similar fashion to FXautobot.
When somebody has a profitable trading system, he or she uses it for trading and makes money. Profitable systems are not given away for free to everybody, because it would make them stop being profitable.
Every trade needs a counterparty in the markets, so everybody cannot be trading the same way. Profitable trading is a matter of personal learning, testing and acquiring the necessary skills.
FX Autobot – the verdict
FX Autobot is a scam, it cannot make you any money in trading, because it is a system built by infamous scammers. It just tells you when to enter trades and it will blame you for losses because you did not know when to exit. Stay away from it!
Profitable trading is a skill that you have to acquire. The legit way is to start learning on a free demo account. You have to test, learn and build your own profitable strategy. This is the correct way.
Forget about free or cheap systems that promise you consistent profits overnight. They all are scams.
Frequently Asked Questions
Is FX Autobot a scam?
Yes, FX Autobot is a scam. It was created by a group of infamous scammers who have their network of websites and YouTube channels with fake reviews of their product.
Is FX AutoBot safe?
No, FX AutoBot is not safe. Because they will push you to trade with real money, so you will be risking and losing your money since the first trade. There is no demo mode.
Should I register for FX AutoBot?
No, don’t register for FX AutoBot, because it is a scam. The signals are not profitable, you would just lose money.