Automated trading is real hit! Users around the world like it since it can work while you sleep. There are some really good testimonials about trading online using robots. There are also some alarming warnings about scam practises. One can never be too careful when trading online. That is the reason we reviewed FXMasterBot! This is one of most popular tools for automated trade online. We have gone through all testimonials, both good and bad and used their service ourselves in order to bring you this FXMasterBot review. If you wish to learn more about Binary Robot 365 keep on reading!
FXMasterBot Review – Introduction
Be careful when choosing your robot for online trade. Most of them have very similar names and not all of them are legit. Auto trading software reviewed on optionsreviews.com is legit. Pay attention to their names when browsing around the web. All robots reviewed by Options Reviews can be found on home page. This review is about FXMasterBot that can be found at fxmasterbot.com. Now let’s get to business!
FXMasterBot Review – How Does It Work?
It is auto trading software. FXMasterBot can be described as web application that places trades in your stead. All you need to do is to set trading options you wish FXMasterBot to follow. One great unique feature of FXMasterBot is the fact that it is only software on the market that trades binary options and forex currencies at the same time. You are not required to download any part of the software to your computer. Everything is accessible online. All you need to do is to visit their site, sign in or log in if you already have trading account and then just set trading settings. When you are ready bot will start trading for you.
Bear in mind that you don’t deposit money to the FXMasterBot but rather with a brokers that have partnered with the company. You choose broker you wish FXMasterBot to trade with. FXMasterBot is not a broker by itself it is just web application that enables its traders to benefit from automated trading on brokers trading platform. You can check out the brokers during the process of registration.
FXMasterBot Review – Account Types
There are three account types plus of course demo account. FXMasterBot is really advanced when it comes to many things and usability is one of them. Their user-centric system consists of three different account types, besides the demo account. This way traders have a chance to upgrade their account as they progress. Different trading account types are really feature of forex or binary options broker, not auto trading software. The fact that FXMasterBot offers so many different account types really shows they are ahead of their time.
Demo Account – great way for new traders to get accustomed to FXMasterBot platform. You can see how things work, you can tweak trading settings all you like and measure what results you get. That way you can see what trading technique works best for you without spending money. Once you are ready you can start trading for real money. Keep in mind that demo account can be used for five days, after that if you wish to trade you will need to fill your account with real money.
Novice Account – Available for all traders that make a minimum deposit with a broker available on the platform. Minimum deposit is $250. Benefits that come with novice account include 3 currency pairs, opportunity to have 3 open trades at the same time, trading with multiple brokers, free signals and Leaderboard multiplier x 1 (we explain Leaderboard further in the text).
Expert Account – this account types represents an upgrade from novice account. It is available after $500 deposit. All benefits of novice account are also available at expert account. In addition expert account traders can trade 9 currency pairs, unlimited open trades, they get access to additional settings, auto trading and Leaderboard multiplier x 2.
Master Account – most advanced account. It unlocks full potential of FXMasterBot software. If you wish to trade on master account you need to deposit $1.000, but with two brokers, meaning $500 each. Leaderboard multiplier is x 3, you get all advanced settings, you can trade all currency pairs and you can count on VIP customer treatment.
FXMasterBot Review – How To Get Started?
Getting started with FXMasterBot is really simple process. After you visit their site all you need to do is next:
- Create free trading account
- Trade on demo account (optional)
- Select broker from list of partner brokers
- Make your initial money deposit
- Tweak trading settings
- Start trading and making money!
FXMasterBot Review – Trading Settings
Before you start trading you will be asked to tweak trading settings. This is very important part because it tells software what rules to follow while trading. This can affect both trading profitability and level of risk you are ready to take.
Trading settings include:
- Number of maximum daily trades
- Compound wins
- Maximum concurrent opening trades
- Regular stop loss
- Reverse trading
- Daily take profit
When your account has been upgraded to one level higher all the required options are made available right away.
FXMasterBot Review – How To Trade Forex
Trading forex is a bit different than trading binary options. Traders trading forex have two settings: stop loss and take profit. You need to predefine those before trading can commence. FXMasterBot will stop trade whenever one of those two limits have been reached. This way auto forex trading is very similar to manual trading, except the software implements stop loss and take profit settings that you preset.
FXMasterBot Review – What is Leaderboard?
There is contest that spices up trading a little bit. It is also interesting opportunity to make some profit, to win a prize! While they trade, traders earn points. These points are calculated till the end of month and then reset at the beginning of the month. Traders with most points get cash rewards. Points are calculated depending on Leaderboard multiplier. Multiplier varies depending on account type. You can check that in account type section of this article. Here is how it works: trade volume x multiplier + deposits-withdrawals. If you make $1.000 trading volume on master account that has leaderboard multiplier x 3 and if you have deposited $500 and withdrawn $300 then you get 3.200 points (1.000×3 + 500 – 300 = 3.200 pints). At the end of the month winners get their cash prizes.
FXMasterBot Review – Deposits And Withdrawals
It is already mentioned in this article that FXMasterBot trading account is free, but you need to make a deposit to one of brokers that partnered with the company. That’s the only part that costs. Minimum deposit amount with most brokers is $250 and it is processed by the broker, not the FXMasterBot. Same way, when making a withdrawal you get the money from that broker you made deposit to.
FXMasterBot Review – Customer Service
During testing period we paid special attention to their customer service. Very often customer support is what makes a difference between good and bad trading experience. First of all, FXMasterBot has provided list of FAQ that is very helpful for basic information. For more complex question you can contact their customer service via live chats. We have done so on multiple occasions and every time people from customer service did their best to help us. It is possible to contact support team via email also. Generally FXMasterBot customer service gets maximum points!
FXMasterBot Review – Conclusion
Testing and reviewing FXMasterBot was really pleasant experience. We had easy time setting things up and start trading. We used demo account and it proved to be helpful. Once we started to trade for real money it was quite easy to set everything up. Returns on trade we achieved were sometimes as high as 90%. Software turned out to be quite lucrative investment. Customer service was very helpful any time we contacted them. FXMasterBot with all the trading settings and account types it offers really represents an exciting trading opportunity. On top of that they offer cash prizes based on the leaderboard system. If you wish to test FXMasterBot yourself open free account by clicking on the button below the text.