Anonymous

23 Sep 2021

∙

General Investing

What do you guys think about bot trading for forex?

Anyone has any experiences to share? Is it profitable and safe? Thanks!

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Tan Choong Hwee

23 Sep 2021

Solutions Specialist at Providend

Bot trading (or copy trading) for forex has 2 risks:

Underlying forex broker is fake or scam where no real transactions take place.
The bot itself may not be consistently profitable, or use aggressive algorithm for high win rate but can wipe out your account in a few big losses.

You need to do your due diligence to ensure the broker is legit, and the track record of the bot performance is genuine.

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