FXBinaryBot is an expert advisor allegedly owned by a company that has been in existence for over a decade. It was created to assist and guide traders navigate the perilous journey of trading. The name of the team behind the creation of this EA was not disclosed. Is buying this EA worth it? Read through our review to see what experts have to say about the Forex trading software
Table of Contents
What Are Forex EAs, Signals or Indicators?
An expert advisor (EA) is software that directs and guide you on what trades to make or pass on. It even automatically starts and carries out trades according to a set of already programmed instructions. Expert advisors are most often deployed on the MT4 or MT5 forex trading platforms.
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We cannot overstate the advantages and usefulness of Expert advisor. Among the many advantages is the slight learning curve involved in using the Expert Advisor. That is to say, you need little learning to use an EA as the trades are being carried out by a set of instructions already made by an expert. Another advantage is that it can consider a lot of variables that humans may not have the time or potential to handle.
It is normal and not out of character for a Forex EA vendor or signal providers to lay claims to their product being a sure-fire way for you to get richer (it’s mostly just marketing.). This is because anyone who is looking for a signal provider is searching for a hassle-free way to make some profit.
However, traders need to be careful about believing everything they encounter in the business sphere. Some are geared to just deceive and steal their funds. Considering what is offered and proofs are effective means of discovering fraud as well as reading our reviews and comparing the offers to those of other legit vendors at the bottom of this article.
FX Binary Bot EA Review
Although the website of this EA is quite simplistic and the sales page claims that the company behind has been in existence for over 10 years. They still don’t give any names as to regarding the team.
How FX Binary Bot EA Works
In this section, we cover the strategy of the EA. We also looked at the trade result if they provide any. For the trade results we hold results that are posted on myfxbook to be standard but we also consider fxblue and other alternatives.
This EA works on the MT4 Platform, it works on multiple currency pairs: AUD/USD, EUR/AUD, CAD/JPY, EUR/CAD, EUR/CHF, EUR/USD, EUR/GBP, GBP/CAD, GBP/USD, USD/CAD, USD/CHF, and USD/JPY
Their sales page claims that it uses Multiple technical indicators in order to “determine the best time to buy or sell a Forex cross rate.”
FX Binary Bot EA Price
$49.99
Client Feedback
Customer feedback is a vital instrument for us to offer up a quantitative review and analysis of an EA. We mostly consider feedback a third-party site as we have found that reviews on the official page might be manipulated, concocted or paid for.
We could not find many reviews by customers who had used this EA before, at least not enough to form a conclusive decision.
You might want to consider reading our recent reviews on these brokers that impressed us, forexsignals, GPS forex, deriv
Conclusion
Because of lack of feedback, we couldn’t gauge the satisfaction of the customers. Although we won’t recommend this EA, they priced it reasonably and hence, consumers probably would not be taking much of an initial risk even if the EA cannot deliver the promised profitability.
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