Are Forex Advisors worth buying?

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On the Internet, more and more often there are reports on the sale of a profitable Forex advisor for traders. The seller assures the buyer (trader) that his Forex advisor will increase the deposit of the new owner by 100% in a couple of months. And, as a proof, he provides a beautiful and prepared report on the strategy from the MetaTrader program.
As a rule, such Forex advisors are sold to traders in compiled form in the MetaTrader program without the source code of the program – “black box”, i.e. there is no possibility to at least somehow change the trading of a Forex advisor.
The cost of this Forex advisor, the “black box”, fluctuates within $500, sometimes even higher. We will analyze how much a trader can earn on such a “black box” if you buy it and start trading on a real account. Let’s suppose, the initial deposit was $500 exactly (leverage of, for example, 1:100).

 

And the bought Forex advisor increases the deposit by 100%, i.e. in 2 times – $1000, and a month later – $2000. In half a year the trader earns $32 000! And according to the seller, in a year the buyer’s deposit will increase to about $2,000,000. Impressive!

Even if the Forex advisor brings at least half of the profit from the declared profitability (that is, 50% per month, not 100%), then after 12 months the buyer’s account will grow from $500 to $64,000! Even such profitability of the advisor is fantastic. And if you start trading in the Forex market not with $500, but with $1,000 or $ 5,000 and higher?!

Hence the question arises: why sell a Forex robot, which brings a fantastic profit?

Why does the seller himself not earn money in this way, and earn it by selling all sorts of advisors, “black boxes”? The answer to this question is simple: a profitable advisor which brings no fantastic profit, it’s just a scam (speculator), which sells beautiful results of trades from the history of the MetaTrader to beginners and inexperienced traders. The vendor makes money by selling these advisers, and not in the Forex market. It is possible that the seller of these advisers has nothing to do with the Forex market, he simply took a suitable advisor, adjusted it to a beautiful result (the history of trading in the market) in MetaTrader and sells this advisor as a “magic wand” for beginner traders.

Advice

Do not buy such Forex advisors. In this situation, you are not buying an adviser, but a beautiful trade report based on the history of the market, which, perhaps, will bring income in the future. And if you have questions to the sellers, you will receive an answer that the market has changed, some indicators in this advisor have ceased to work, and they will offer you to buy a new, relevant and working, Forex advisor.

The most realistic are those advisors which bring profit of about 100% per year (and the seller does not guarantee that the income will be exactly this).
Just ask yourself a question: “Why does someone sell an adviser, if, at a profit of 100% and a deposit of $10,000, in 7 years he will become a dollar millionaire?”

So which Forex advisor should a trader buy?

It makes sense to buy a Forex advisor in case when you can test this advisor on a demo account online, but it is best on a real account with a small deposit. The seller can carry out this procedure easily: just open an account, run a Forex advisor which is on sell, and provide a password which works only in the viewing mode to the potential buyers (traders). This function is available in the MetaTrader platform. With a long test of this advisor, any trader will be convinced of its profitability and efficiency. And he will buy it after checking. Perhaps this is the most honest way to buy Forex advisors at the moment. Even if the profitability is lower than it has been declared, the seller will not be in any way to blame for, as he had provided an opportunity to check and test it.

 

Usually Forex robots which bring good profits and trade according to trading strategies without false signals, are expensive, and sometimes very expensive (at least $10,000, and sometimes more than $100,000). Such a price may seem very high for a Forex advisor, but if you compare the profitability of a small company and the profitability of a Forex advisor, the price of a Forex advisor will be quite attractive.

Buying a Forex advisor, a trader buys an analogue of a business which makes a profit.

It also makes sense for a trader to buy scripts or individual original indicators (See Forex Indicators), which simplify the trading for a trader. But in this situation no one guarantees profit: a trader only simplifies the trading and can create his own trading strategies in the Forex market. It is the uniqueness and various parameters of the Forex indicators which can raise the deposit of their owner.

A systematic trader can also order from programmers writing of their own Forex advisor, since in this case a trader receives an automated Forex advisor, which he previously traded manually. And the profitability of this advisor depends on the trading strategy which the trader has laid down in the advisor, when ordering from the programmer.

And perhaps it does not make any sense to acquire a Forex robot which brings a fantastic profitability.

8 COMMENTS

  1. please advise on how you can find a genuine advisor vendor since majority don’t deliver…often will sel you what you never wanted after paying them.

  2. Now I know what advisors are.. first time I had this term in a seminar I though they meant persons…a panel of advisors. That was last week.

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