Forex Expert Advisors - Scams or a Genuine Money Making Opportunity?

Forex expert advisors; are they the route to riches that many claim with no effort on your part or are they scams? The answer enclosed may surprise you…

First let’s answer the most basic question anyone wants to know, are you likely to make money with a Forex expert system?

The answer is of course not!

Think about what they are offering - financial freedom for the price of a night out and no effort, if only it were true but it’s obvious its not.

So what about the track records of profits and people who say they make money?

The records are mostly made up simulations in hindsight, so not exactly hard to do, as you know the closing price! When you trade though, you don’t get the closing price in advance and that makes trading far harder and losses come quickly. Some vendors give real track records but be wary of them, as there never audited independently by reliable sources.

Forget about all the people online telling you they make money with Expert Advisors, as their simply affiliates selling the system. If they really were making as much money as they claim, they wouldn’t need the few dollars commission they get from the vendor.

So are Forex Expert Advisors scams?

No they’re not, just because they don’t make money, doesn’t make them scams and they normally all adhere to the 100% money back guarantees given and have disclaimers on the simulations presented.

If traders are really so naïve, to believe that a simulated track record will repeat in real time trading, then that’s up to them and not the fault of the vendor. The vendor is giving his opinion on what the system may or may not do and its up to you to believe it or not.