Forex Robot Scams for 2022

We found 11 online brokers that are appropriate for Trading Forex Robot Brokers.

Forex Robot Scams Guide

Updated August 10, 2022

Forex Robot Scams

The earning potentials of the Forex market has made it very appealing for both newbie and experienced traders. The former group seem to be very ambitious when it comes to making as much money as possible. This is how they become victims of desperate companies that are selling fake robots. It is true that there are Forex robots that can help you automate trading activities. However, most of them are not good enough. Being able to identify these will do you lots of good.

Here is the Solution

There are more robots in in the Forex market today than you can ever imagine. Many of these robots will complicate matters for you. This is because they have been poorly developed without traders in mind. The major aim of this post is to reveal tips that can protect you from falling for Forex robot scams. At the end, you will be able to identify trading bots and this can help your cause.

Check Out The Developers

Every Forex robot you know of today has been created by some group of developers. This is where most people get it wrong. They get overexcited by the promises these robots make without digging out real facts about their developers. There are lots of questions you need to ask about a company before signing up for its trading bots. For instance, you need to find out whether it is experienced in the Forex industry.

Try to find out how many years it has been developing trading robots. Does it have a pedigree when it comes to developing robots with premium features? The more information you can get about the developers of a particular Forex robot, the easier it will be to know whether such tool can meet your trading expectations. Some facts to watch out for here are anonymous developers, no back testing results, and when the information about such a robot is not clear enough.

Learning from Other Traders

When you first stumble upon a trading bot, there are always lots of promises made. The developers will try everything possible to convince you to sign up. However, it is always the right move to look for people who have used such systems. Find out their reviews on the bot to know whether it is worth all the hassles. Over the years, there have been lots of negative reviews about many Forex bots - heed their warnings.

Most of the brokers offering these tools tend to exaggerate results in a bid to get more clients. Therefore, ensure you have found reviews by real users that are getting tangible results. Anything short of this can come back to haunt you later on. The rule here is to avoid being one of the first traders to use a software. It is still in beta stages and could require some tweaking to become perfect.

Unrealistic Claims

Try as much as possible to avoid those robots that are claiming to make you millions of dollars within days. This is only a scam that can make you lose money more than imagined. Even with bots being used, Forex is all about building slowly. It is the same even when you are using a good bot. Therefore, watch out for developers that are claiming to make you quick and easy profits.

What You Need To Know

The truth is that coming across a genuine and effective Forex robot is very rare. This is because many of them are bound to make mistakes. Do not forget that the market is also highly volatile and unpredictable. A simple change can bring about huge losses. According to experts, the only time to use a Forex robot is when you have tested such in a demo account.

It should produce some consistent results before being used in a live trade. This can help to cushion the effects of any loss that you will experience. It is recommended that whenever a trading bot provides you with signals, they should be analysed objectively. Do not make decisions just based on these signals to avoid experiencing huge loss. Instead, always check them out to ensure you are on the right track.

Final Verdict On Forex Robot Scams

With the tips shared above, there is every reason to believe that you can now choose amongst the various Forex robots available in the market. They will help you filter out those that are not worth your time and money.

We've collected thousands of datapoints and written a guide to help you find the best Forex Robot Scams for you. Our aim is that this information helps you choose a trustworthy, reputable and professional broker who can satisfy your trading needs online. We have compiled a list of what we consider the best Forex Robot Brokers below.

Reputable Forex Robot Scams Checklist

There are a number of important factors to consider when picking an online Forex Robot Brokers trading brokerage.

Our team have listed brokers that match your criteria for you below. All brokerage data has been summarised into a comparison table. Scroll down.

Our brokerage comparison table below allows you to compare the below features for brokers offering Forex Robot Brokers.

We compare these features to make it easier for you to make a more informed choice.

Top 15 Forex Robot Brokers of 2022 compared

Here are the top Forex Robot Brokers.

Compare Forex Robot Brokers min deposits, regulation, headquarters, benefits, funding methods and fees side by side.

All brokers below are Forex Robot Brokers. Learn more about what they offer below.

You can scroll left and right on the comparison table below to see more Forex Robot Brokers that accept Forex Robot Brokers clients

Broker IC Markets Roboforex AvaTrade XM XTB Pepperstone FP Markets NordFX EasyMarkets FXPro Admiral
Rating
Regulation Australian Securities and Investments Commission (ASIC), Financial Services Authority (FSA), Cyprus Securities and Exchange Commission (CySEC) Cyprus Securities and Exchange Commission (CySEC) Central Bank of Ireland, Australian Securities and Investments Commission (ASIC), ASIC (406684), Financial Services Authority (FSA), South African Financial Sector Conduct Authority (FSCA), Financial Stability Board (FSB), The Financial Services Agency (JAPAN FSA), Financial Futures Association of Japan (FFAJ), Abu Dhabi Global Markets (ADGM), Financial Regulatory Services Authority (FRSA), Polish Financial Supervision Authority (KNF), Israel Securities Association (ISA), British Virgin Islands Financial Services Commission (BVI), BVI (SIBA/L/13/1049) Financial Services Commission (FSC), Cyprus Securities and Exchange Commission (CySEC), Australian Securities and Investments Commission (ASIC) Financial Conduct Authority (FCA), FCA number FRN 522157, Cyprus Securities and Exchange Commission (CySEC), CySEC Licence Number: 169/12, Comisión Nacional del Mercado de Valores, Komisja Nadzoru Finansowego, Belize International Financial Services Commission (IFSC) under license number IFSC/60/413/TS/19, Polish Securities and Exchange Commission (KPWiG), Dubai Financial Services Authority (DFSA), Dubai International Financial Center (DIFC),Financial Sector Conduct Authority (FSCA), XTB AFRICA (PTY) LTD licensed to operate in South Africa Financial Conduct Authority (FCA), Australian Securities and Investments Commission (ASIC), Cyprus Securities and Exchange Commission (CySEC), Federal Financial Supervisory Authority (BaFin), Dubai Financial Services Authority (DFSA), Capital Markets Authority of Kenya (CMA), Pepperstone Markets Limited is incorporated in The Bahamas (number 177174 B), Licensed by the Securities Commission of the Bahamas (SCB) number SIA-F217 Australian Securities and Investments Commission (ASIC), Cyprus Securities and Exchange Commission (CySEC) Cyprus Securities and Exchange Commission (CySEC), License No: 209/13, VFSC registration number 15008 Cyprus Securities and Exchange Commission (CySEC), Australian Securities and Investments Commission (ASIC), Financial Services Authority (FSA), British Virgin Islands Financial Services Commission (BVI) Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC), Financial Sector Conduct Authority (FSCA), Securities Commission of the Bahamas (SCB) Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC)
Min Deposit 200 1 100 5 No minimum deposit 200 100 1 100 100 200
Funding
  • Bank transfer
  • Credit Card
  • Paypal
  • Bank transfer
  • Credit Card
  • Paypal
  • Bank transfer
  • Credit Card
  • Paypal
  • Bank transfer
  • Credit Card
  • Paypal
  • Bank transfer
  • Credit Card
  • Paypal
  • Bank transfer
  • Credit Card
  • Paypal
  • Bank transfer
  • Credit Card
  • Paypal
  • Bank transfer
  • Credit Card
  • Paypal
  • Bank transfer
  • Credit Card
  • Paypal
  • Bank transfer
  • Credit Card
  • Paypal
  • Bank transfer
  • Credit Card
  • Paypal
Used By 180,000+ 10,000+ 300,000+ 3,500,000+ 250,000+ 89,000+ 10,000+ 10,000+ 142,500+ 1,866,000+ 10,000+
Benefits
  • Allows scalping
  • Allows hedging
  • Low min deposit
  • Offers Negative Balance Protection
  • Allows scalping
  • Allows hedging
  • Offers STP
  • Low min deposit
  • Allows scalping
  • Allows hedging
  • Low min deposit
  • Allows scalping
  • Allows hedging
  • Low min deposit
  • Offers Negative Balance Protection
  • Allows scalping
  • Allows hedging
  • Offers STP
  • Low min deposit
  • Offers Negative Balance Protection
  • Allows scalping
  • Allows hedging
  • Offers STP
  • Low min deposit
  • Offers Negative Balance Protection
  • Allows scalping
  • Allows hedging
  • Offers STP
  • Low min deposit
  • Offers Negative Balance Protection
  • Allows scalping
  • Allows hedging
  • Offers STP
  • Low min deposit
  • Allows scalping
  • Allows hedging
  • Low min deposit
  • Guaranteed stop loss
  • Offers Negative Balance Protection
  • Allows scalping
  • Allows hedging
  • Low min deposit
  • Offers Negative Balance Protection
  • Allows scalping
  • Allows hedging
  • Offers STP
  • Low min deposit
  • Offers Negative Balance Protection
Accounts
  • Demo account
  • Mini account
  • Standard account
  • Zero spread account
  • Raw Spread account
  • Islamic account
  • Demo account
  • Micro account
  • Mini account
  • Standard account
  • Zero spread account
  • ECN account
  • Islamic account
  • Demo account
  • Micro account
  • Mini account
  • Standard account
  • Managed account
  • Islamic account
  • Demo account
  • Micro account
  • Standard account
  • Zero spread account
  • Islamic account
  • Pro account
  • Demo account
  • Micro account
  • Mini account
  • Standard account
  • Islamic account
  • Demo account
  • Standard account
  • Zero spread account
  • ECN account
  • Islamic account
  • Demo account
  • Mini account
  • Standard account
  • Zero spread account
  • ECN account
  • Managed account
  • Islamic account
  • Demo account
  • Micro account
  • Mini account
  • Standard account
  • Zero spread account
  • ECN account
  • Islamic account
  • Demo account
  • Standard account
  • Islamic account
  • Demo account
  • Mini account
  • Islamic account
  • Demo account
  • Micro account
  • Mini account
  • Standard account
  • ECN account
Platforms MT4, MT5, Mirror Trader, ZuluTrade, Web Trader, cTrader, Mac MT4, MT5, Mac, Web Trader, cTrader, Tablet & Mobile apps Web Trader, MT4, MT5, AvaTradeGo, AvaOptions, DupliTrade, ZuluTrade, Mobile Apps, ZuluTrade, DupliTrade, MQL5 MT4, MT5, Mac, Web Trader, Tablet & Mobile apps MT4, Mirror Trader, Web Trader, Tablet & Mobile apps MT4, MT5, TradingView, DupliTrade, myFXbook, Mac, Web Trader, cTrader, Tablet & Mobile apps MT4, MT5, IRESS, Mac, Web Trader, Tablet & Mobile apps MT4, MT5, Tablet & Mobile apps MT4, MT5, Web Trader, Tablet & Mobile apps MT4, MT5, cTrader, Tablet & Mobile apps MT4, MT5, Mac, Web Trader, Tablet & Mobile apps
Support
  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
  • Email support
Learn More Sign Up with
icmarkets
Sign Up with
roboforex
Sign Up with
avatrade
Sign Up with
xm
Sign Up with
xtb
Sign Up with
pepperstone
Sign Up with
fpmarkets
Sign Up with
nordfx
Sign Up with
easymarkets
Sign Up with
fxpro
Sign Up with
admiralmarkets
Risk Warning Losses can exceed deposits Losses can exceed deposits 71% of retail investor accounts lose money when trading CFDs with this provider CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75.59% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. 74% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. 74-89 % of retail investor accounts lose money when trading CFDs Losses can exceed deposits Losses can exceed deposits Your capital is at risk 75.78% of retail investor accounts lose money when trading CFDs and Spread Betting with this provider Losses can exceed deposits
Demo IC Markets
Demo
Roboforex
Demo
AvaTrade
Demo
XM
Demo
XTB
Demo
Pepperstone
Demo
FP Markets
Demo
NordFX
Demo
easyMarkets
Demo
FxPro
Demo
Admiral Markets
Demo
Excluded Countries AF, GN, SL, BW, IR, SY, MM, IQ, TG, KH, LS, YE, CI , LR, ZW, CU, LY, TZ, CG, ML, BO, LR, NE, AO, GM, NG, AG, GH, KR, KG, GN, SN, NA US, JP BE, BR, KP, NZ, TR, US, CA, SG US, CA, IL, KR, IR, MM, CU, SD, SY US, IN, PK, BD, NG , ID, BE, AU AF, AS, AQ, AR, AM, AZ, BY, BE, BZ, BT, BA, BI, CM, CA, CF, TD, CG, CI, ER, GF, PF, GP, GU, GN, GW, GY, HT, VA, IR, IQ, JP, KZ, LB, LR, LY, ML, MQ, YT, MZ, MM, NZ, NI, KP, PS, PR, RE, KN, LC, VC, WS, SO, GS, KR, SS, SD, SR, SY, TJ, TN, TM, TC, US, UY, VU, VG, EH, YE, ZW US, JP, NZ US, CA, EU, RU, SY, KP, CU US, IL, BC, MB, QC, ON, AF, BY, BI, KH, KY, TD, KM, CG, CU, CD, GQ, ER, FJ, GN, GW, HT, IR, IQ, LA, LY, MZ, MM, NI, KP, PW, PA, RU, SO, SS, SD, SY, TT, TM, VU, VE, YE US, CA, IR US, CA, JP, SG, MY, JM, IR, TR


All Forex Robot Brokers in more detail

You can compare Forex Robot Brokers ratings, min deposits what the the broker offers, funding methods, platforms, spread types, customer support options, regulation and account types side by side.

We also have an indepth Top Forex Robot Brokers for 2022 article further below. You can see it now by clicking here

We have listed top Forex Robot Brokers below.

Forex Robot Scams List

IC Markets
(4/5)
Min deposit : 200
IC Markets was established in 2007 and is used by over 180000+ traders. Losses can exceed deposits IC Markets offers Forex, CFDs, Spread Betting, Share dealing, Cryptocurrencies. Cryptocurrency availability with IC Markets is subject to regulation.

Funding methods

Bank transfer Credit Card Paypal

Platforms

MT4, MT5, Mirror Trader, ZuluTrade, Web Trader, cTrader, Mac

Customer support

Live chat Phone support Email support

Account Types

Micro account Standard account ECN account
Islamic account VIP account
Regulated by Australian Securities and Investments Commission (ASIC), Financial Services Authority (FSA), Cyprus Securities and Exchange Commission (CySEC)
Roboforex
(4/5)
Min deposit : 1
Roboforex was established in 2009 and is used by over 10000+ traders. Losses can exceed deposits Roboforex offers Forex, CFDs.

Funding methods

Bank transfer Credit Card Paypal

Platforms

MT4, MT5, Mac, Web Trader, cTrader, Tablet & Mobile apps

Customer support

Live chat Phone support Email support

Account Types

Micro account Standard account ECN account
Islamic account VIP account
Regulated by Cyprus Securities and Exchange Commission (CySEC)
AvaTrade
(4/5)
Min deposit : 100
AvaTrade was established in 2006 and is used by over 300000+ traders. 71% of retail investor accounts lose money when trading CFDs with this provider AvaTrade offers Forex, Cryptocurrencies, Commodities, Indices, Stocks, Bonds, Vanilla Options, ETFs, CFDs, Spread Betting, Social Trading . Cryptocurrency availability with AvaTrade is subject to regulation.

Funding methods

Bank transfer Credit Card Paypal

Platforms

Web Trader, MT4, MT5, AvaTradeGo, AvaOptions, DupliTrade, ZuluTrade, Mobile Apps, ZuluTrade, DupliTrade, MQL5

Customer support

Live chat Phone support Email support

Account Types

Micro account Standard account ECN account
Islamic account VIP account
Regulated by Central Bank of Ireland, Australian Securities and Investments Commission (ASIC), ASIC (406684), Financial Services Authority (FSA), South African Financial Sector Conduct Authority (FSCA), Financial Stability Board (FSB), The Financial Services Agency (JAPAN FSA), Financial Futures Association of Japan (FFAJ), Abu Dhabi Global Markets (ADGM), Financial Regulatory Services Authority (FRSA), Polish Financial Supervision Authority (KNF), Israel Securities Association (ISA), British Virgin Islands Financial Services Commission (BVI), BVI (SIBA/L/13/1049)
XM
(4/5)
Min deposit : 5
XM was established in 2009 and is used by over 3500000+ traders. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75.59% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. XM offers Forex Trading, Stocks CFDs, Commodities CFDs, Equity Indices CFDs, Precious Metals CFDs, Energies CFDs.

Funding methods

Bank transfer Credit Card Paypal

Platforms

MT4, MT5, Mac, Web Trader, Tablet & Mobile apps

Customer support

Live chat Phone support Email support

Account Types

Micro account Standard account ECN account
Islamic account XM Zero account VIP account
Regulated by Financial Services Commission (FSC), Cyprus Securities and Exchange Commission (CySEC), Australian Securities and Investments Commission (ASIC)
XTB
(4/5)
Min deposit : 0
XTB was established in 2002 and is used by over 250000+ traders. 74% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. XTB offers Forex, CFDs, Cryptocurrency. Cryptocurrency availability with XTB is subject to regulation.

Funding methods

Bank transfer Credit Card Paypal

Platforms

MT4, Mirror Trader, Web Trader, Tablet & Mobile apps

Customer support

Live chat Phone support Email support

Account Types

Micro account Standard account ECN account
Islamic account VIP account
Regulated by Financial Conduct Authority (FCA), FCA number FRN 522157, Cyprus Securities and Exchange Commission (CySEC), CySEC Licence Number: 169/12, Comisión Nacional del Mercado de Valores, Komisja Nadzoru Finansowego, Belize International Financial Services Commission (IFSC) under license number IFSC/60/413/TS/19, Polish Securities and Exchange Commission (KPWiG), Dubai Financial Services Authority (DFSA), Dubai International Financial Center (DIFC),Financial Sector Conduct Authority (FSCA), XTB AFRICA (PTY) LTD licensed to operate in South Africa
Pepperstone
(4/5)
Min deposit : 200
Pepperstone was established in 2010 and is used by over 89000+ traders. 74-89 % of retail investor accounts lose money when trading CFDs Pepperstone offers Forex, CFDs, Social Trading.

Funding methods

Bank transfer Credit Card Paypal

Platforms

MT4, MT5, TradingView, DupliTrade, myFXbook, Mac, Web Trader, cTrader, Tablet & Mobile apps

Customer support

Live chat Phone support Email support

Account Types

Micro account Standard account ECN account
Islamic account Pro Account VIP account
Regulated by Financial Conduct Authority (FCA), Australian Securities and Investments Commission (ASIC), Cyprus Securities and Exchange Commission (CySEC), Federal Financial Supervisory Authority (BaFin), Dubai Financial Services Authority (DFSA), Capital Markets Authority of Kenya (CMA), Pepperstone Markets Limited is incorporated in The Bahamas (number 177174 B), Licensed by the Securities Commission of the Bahamas (SCB) number SIA-F217
FP Markets
(4/5)
Min deposit : 100
FP Markets was established in 2005 and is used by over 10000+ traders. Losses can exceed deposits FP Markets offers Forex, CFDs.

Funding methods

Bank transfer Credit Card Paypal

Platforms

MT4, MT5, IRESS, Mac, Web Trader, Tablet & Mobile apps

Customer support

Live chat Phone support Email support

Account Types

Micro account Standard account ECN account
Islamic account VIP account
Regulated by Australian Securities and Investments Commission (ASIC), Cyprus Securities and Exchange Commission (CySEC)
NordFX
(4/5)
Min deposit : 1
NordFX was established in 2008 and is used by over 10000+ traders. Losses can exceed deposits NordFX offers Forex.

Funding methods

Bank transfer Credit Card Paypal

Platforms

MT4, MT5, Tablet & Mobile apps

Customer support

Live chat Phone support Email support

Account Types

Micro account Standard account ECN account
Islamic account VIP account
Regulated by Cyprus Securities and Exchange Commission (CySEC), License No: 209/13, VFSC registration number 15008
EasyMarkets
(4/5)
Min deposit : 100
easyMarkets was established in 2001 and is used by over 142500+ traders. Your capital is at risk easyMarkets offers CFD, Forex, Commodities, Indices, Shares, Crypto. Cryptocurrency availability with easyMarkets is subject to regulation.

Funding methods

Bank transfer Credit Card Paypal

Platforms

MT4, MT5, Web Trader, Tablet & Mobile apps

Customer support

Live chat Phone support Email support

Account Types

Micro account Standard account ECN account
Islamic account VIP account
Regulated by Cyprus Securities and Exchange Commission (CySEC), Australian Securities and Investments Commission (ASIC), Financial Services Authority (FSA), British Virgin Islands Financial Services Commission (BVI)
FXPro
(3/5)
Min deposit : 100
FxPro was established in 2006 and is used by over 1866000+ traders. 75.78% of retail investor accounts lose money when trading CFDs and Spread Betting with this provider FxPro offers Forex trading, Share Dealing, Spot Indices, Futures, Spot Metals and Spot Energies.

Funding methods

Bank transfer Credit Card Paypal

Platforms

MT4, MT5, cTrader, Tablet & Mobile apps

Customer support

Live chat Phone support Email support

Account Types

Micro account Standard account ECN account
Islamic account VIP account
Regulated by Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC), Financial Sector Conduct Authority (FSCA), Securities Commission of the Bahamas (SCB)
Admiral
(3/5)
Min deposit : 200
Admiral Markets was established in 2001 and is used by over 10000+ traders. Losses can exceed deposits Admiral Markets offers Forex, CFDs.

Funding methods

Bank transfer Credit Card Paypal

Platforms

MT4, MT5, Mac, Web Trader, Tablet & Mobile apps

Customer support

Live chat Phone support Email support

Account Types

Micro account Standard account ECN account
Islamic account VIP account
Regulated by Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC)

Learn more Learn more about IC Markets.
Losses can exceed deposits
TRADE NOW Try IC Markets today
Losses can exceed deposits