FXMasterBot – Forex Broker Review and Trader Feedback 2022

November 24, 2022 0 By Scarlett Watson

FXMasterBot is a one-of-a-kind piece of trading software for the foreign exchange market that gives traders the ability to trade automatically as well as manually and to personalize the trading signals that are sent directly to their trading profile. Numerous trading settings, which may be used for more customized trading, particularly by traders who prefer to have everything under control, have made this possible, and it is thanks to these settings that it is feasible to do this. FXMasterBot has successfully differentiated itself from the many other products on the market that are very similar to it by providing three distinct trading plans in addition to a free demo account that comes with $1500 worth of virtual money that can be used for training purposes. Because of this, it is an excellent alternative for novice traders as well as more experienced ones, since it allows them to quickly evaluate the platform before placing a deposit. Once you begin actual trading, you won’t have to waste time trying to figure out how the platform functions because you’ll already be familiar with it. Traders who make the decision to use FXMasterBot will also have the ability to trade with multiple brokers, which will significantly increase the level of diversification in their trading portfolio. Everyone who wishes to enjoy automated forex trading with live market signals, a high degree of control, and support will receive an outstanding trading experience from this forex trading software. This software will also deliver a high level of support. When utilized correctly, FXMasterBot has the ability to generate excellent outcomes, and it gives traders from anywhere in the world access to an impressive roster of licensed brokerage firms. Determine whether or not FX Master Bot is a Scam.

1. Information in a General Sense

The trading algorithm that underpins FXMasterBot was developed by a group of industry professionals working together. When a trader decides to sign up for and make use of this program, they immediately have access to a large number of tools, features, and configuration options that make the algorithm extremely adaptable to their specific needs. In the world of forex trading software, you won’t often find such a high level of personalization. Traders also have the option to conduct their business automatically or manually. When auto trading is turned on, the FXMasterBot will automatically place the deal in the trading room when it detects a market opportunity. Traders who prefer manual trading will be need to manually accept every signal they want to trade, but they will not be required to leave the trading room at any point throughout the trading day. For a more intuitive and straightforward experience, every facet of trading may be accessed through the same interface.

When it comes to the various settings, traders have the option to trade in the opposite direction of the FXMasterBot algorithm, quickly set stop loss and take profit limits, trade amounts, and signal strengths, and select to trade opposite of the algorithm. They also have the ability to activate the daily stop loss and restrict the total amount of trades that can be executed on a daily basis by utilizing the Max Daily Trades function. It is also possible to set a maximum number of simultaneous trades and a daily profit limit, both of which urge traders to pay more attention to the management of their funds. No matter how many brokers you choose to trade with, whether it be one or all of them, you will have access to all of these advantages.

2. Advantages and Disadvantages

Free Demo: Traders of any kind are encouraged to sign up for a completely free FXMasterBot demo, which comes with an astonishing $1500 in virtual currency to practice trading with. The most important advantage is that investors may practice their trading strategies in a risk-free environment before venturing out into the realm of real trading. Because the FXMasterBot demo account is based on the Master account, which has all features unlocked, users also have the opportunity to learn how to use the various functions without any restrictions being placed on their experience.

Free Forex Trading Software FXMasterBot is a free trading software, and traders never have to pay any fees, charges, commissions, or membership dues to use it. Traders can also choose to become members of FXMasterBot’s affiliate program. This indicates that traders are free to spend all of their money on trading and will have excellent liquidity right from the beginning of their transactions.

Customizable Features Not only does FXMasterBot provide three distinct account types, but it also provides several trading settings. These settings ensure that the algorithm will supply only the trades that are relevant to you and will refrain from bothering you with the remainder. Because of this, all traders will maintain a greater amount of control than they would with the typical forex robot.

Transparency: FXMasterBot does not promise investors that they will gain millions of dollars in a single week, but rather it keeps things honest. Its highly precise signals are supplied in accordance with actual market data, and the profit ratio is based on how traders alter their settings.

Multiple Forex Brokers: Traders have the option of conducting business with a single broker or multiple brokers at the same time. All of the brokers that are accessible through FXMasterBot have a strong reputation in the industry and come highly recommended; in fact, some of them are even regulated.

No Mobile App: The FXMasterBot website does not yet offer a mobile application that can be downloaded and installed on a user’s smartphone. However, due to the highly responsive design that is supported by mobile browsers, you are still able to conduct business using your mobile device. You won’t have to worry about downloading and installing any apps or keeping their versions up to date this way.

3. Linked Brokers

FXMasterBot incorporated a large number of well-known brokers, some of which are licensed by financial authorities such as CySEC and ASIC. Traders, as soon as they register, are paired with the broker that is the most well-known in their nation. This is due to the fact that the availability of the broker is greatly dependent on the trader’s geolocation.

FXMasterBot also provides access to 24option, which is widely regarded as one of the best brokers in the industry. It is subject to the regulations of CySEC and provides access to a wide range of trading products. At this very moment, 24option is widely considered to be one of the most trustworthy and well-regulated brokers available on the market.

iTrader is yet another broker that is regulated by the Cyprus Securities and Exchange Commission (CySEC). They provide a selection of trading platforms, one of which is an interface for mobile trading that is based on MetaTrader.

OTCapital is a well-known broker that operates out of Australia and requires a minimum deposit of only $250 in order to participate in trading.

FPMarkets is a forex broker that has been around for 12 years, has won multiple awards, and has over 12,000 clients who are happy with their service. A further layer of protection is afforded to traders by the fact that FPMArkets is subject to regulation by the Australian Securities and Investments Commission (ASIC).

EuropeFX is a broker that is authorized by the CySEC and operates under license number 258/14. This company places a strong emphasis on transparency, and traders can be certain that their monies are stored in separate accounts.

4. Strategies that are Integrated

Because it does not rely on solutions that are universally applicable but rather emphasizes the significance of active participation from traders in the trading process, FXMasterBot is very different from many other forex trading robots that are very similar to it. Users have the ability to select their preferred trading plan or account level from among three available options.

The Novice account is perfect for novices because there is only a minimum deposit of $200 required. Traders are allowed to trade three different currency pairings and can have three different trades open at the same time.

Trading with several brokers and nine different currency pairs are both available with the expert account. There is no cap placed on the number of open positions that can be maintained at any given moment. Traders are also granted limited access to some of the most incredible advanced features. The minimum deposit required for this type of account is $500.

Traders are eligible for a Master Account if they have deposited a combined total of at least $500 with two different brokers. Users that have this type of account have access to all advanced settings, 17 currency pairings, and VIP customer service in addition to having an unlimited amount of trades open at once.

Traders who are interested in learning more about the many settings and trading options available to them may easily open a free demo account and put their trading talents to the test with their virtual money balance of $1500.

5. Expenses and Probability of Success

FXMasterBot is a forex auto trading software that is offered at no cost whatsoever. Traders would never be required to pay any fees or commissions that were not anticipated. They do not have to pay anything to become a member or to use the trading algorithm that is about to be provided to them. The only thing users are required to do is make the minimal deposit with the broker of their choice; however, this money will be utilized just for trading and will not be used to pay any fees levied by the FXMasterBot program.

The success rate of FXMasterBot is controlled by the settings chosen by the trader, although on average, it is somewhere around 85%. As a result, FXMasterBot is currently among the most profitable auto trading software available. This is due to the fact that it not only enables traders to create entirely individualized transactions, but it also offers excellent profit rates. Traders who choose a more conservative approach can anticipate a greater winning ratio, whilst traders who prefer a more aggressive approach will need to incorporate that component into their trading equation as well.

6. Establishing a Financial Footing

The signup process for FXMasterBot is rather uncomplicated and uncomplicated. First things first, head on over to their website and fill out the registration form there. After that, you will be taken to a more extensive form in which you will be required to enter further information. And that wraps things up! The signup process for FXMasterBot is exactly the same as the registration process for other online services. You will have access to the demo account right away, but in order to begin trading for real money, all you need to do is make a deposit with the broker who is assigned to you. Your account will always be managed by the broker that FXMasterBot determines to be the most well-liked option among traders in your country.

7. Ought I to Make Use of FXMasterBot?

It is always up to you to make the final decision regarding whether or not you will employ a particular piece of trading software. FXMasterBot is able to offer both novice and seasoned traders trading that is simpler and more secure, which is something from which they will undoubtedly profit. There is also a free demo, which is an added bonus because there is no requirement to make a deposit in order to utilize it. You won’t have any trouble trying out the demo version of FXMasterBot to determine if it’s the right forex robot for you. During the time that you have access to the demo account, you should make it a priority to investigate every facet of trading with FXMasterBot. FXMasterBot undoubtedly proved to be one that we can suggest, mostly owing to a high level of control that every trader has during the trading process. This is especially important when considering the number of forex robots that are released each day.