Here we will look at some tips which you can use to find the minority of automated Forex robots which make big gains and avoid the majority of losers. Lets look at our check-list to find the best Forex robots.

The first point to keep in mind is that most these systems make claims that simply are not true in terms of Forex trading and if you see advertising copy with these statements in it – avoid the system and move on

- Trade with 95% Accuracy or Better

This simply is not true – even the great FX traders like George Soros or Jimmy Rogers couldn't do this, so don't expect a robot costing a few hundred dollars to do it!

Make 1,000% Profit with Less than 5% Draw down

The gains are always to big but the really laughable statement is always the low draw down – I will use the traders above again - Jimmy Rogers and George Soros couldn't do this and neither will a robot

The Software Predicts the Future

This is the buzzword for robot traders but they don't predict anything because the future cannot be predicted and its just marketing hype and nothing more.

I could go on with my list but instead I will just say if an automated Forex robot looks to good to be true it probably is.

Only Accept Verified Audited Results

The Real test of a robots profit power is the money its made in the market but the problem is most robots don't have a real time track record and have never been traded!

You get simulations going backwards, across price data but that's so easy a kid can do it - but in the real world of Forex trading, you don't get this key data in advance and that's why currency trading is so hard.

Traders have got wise to simulations, so robot traders need to find a new ploy to lure naïve traders and its the so called “live results” which are not live at all and even worse, their posted by the person selling the system with no outside check.

Insist on a verified track record of real time results and they must be verified by a reputable outside source NOT the vendor and unless you get this don't buy the system.

Check the Developers Background

With most robots you can never find any background on the developer; he is normally secret for some reason ( i.e. he doesn't exist) or you get a name and big claims and can never find anything on him online. In fact, one person checked out a few of the famous faces on Forex robot sites and found they were all actors! Make sure the developer is a trader and has some form of track record before you buy.

Final Words

Buying an automated Forex robot is really common sense but you must always check the track record to see its real ( and well over 90% are not) and only settle for audited performance also, check out the developer so you know something about is background and trading style.

These simple tips, will help choose Forex robots which can help you enjoy long term currency trading success – good luck!