iForexRobot Review: this is the name of a vendor that claims to provide forex indicator or expert advisor for clients. Is iforexrobot.com a scam or is it legit?
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What Are Forex Signals or Indicators?
Most Forex indicators are created for the purpose of giving traders trading signals that are accurate as well as consistent. With a legit indicator system, traders can afford to spend less time monitoring the market.
Traders are provided with what can be termed expert advice from these robots, this is why they are called Expert Advisors (EAs). EAs are sold by indicator vendors.
iForexRobot is vendor offering clients the avenue to trade automatically with its “technical indicators or expert advisor”. There is a link to “start your free trial” on the website. The addresses we found on the page are:
52-54 Broadwick Street, Soho, London, W1F 7AH
88 Blvd. Bulgaria, Sofia, Bulgaria.
This vendor seems to employ one of the most successful means of getting customers to rush in by giving a “special offer”. This offer is simply directing clients to “open a robot account and fund it with $2500 and trade any featured EA for free”.
How iForexRobot Works
While trying to find out how the products of this vendor works, we found that it does not seem like it is really a vendor. Instead, they claim to have “partnered with the best EA developers”. This looks like they are involved in sourcing clients for other vendors.
The page claims that iForexRobot offers: Trend strategies, Grid strategies, Martingale strategies, Price action strategies, Scalping strategies, and Customized indicators (for manual traders). Considering that these are basically all the trading strategies available currently, we are even more certain of our claim in the above paragraph.
Much of the website is devoted to defining what automated trading means, how it works and “why 60% of FX traders use” robots. They even provide a link to getting to find “free forex robot or mt4 indicator”. The first on the list of featured trader EAs is Hi-Tech Trader EA and this is a product from another company.
iForexRobot major sales pitch is the payment of $2,500 to trade many of the featured EAs that number about 15 robots.
Clients Feedback on iForexRobot
There are no reviews currently for this website. When we checked on scamadviser.com, we found that most of the corporate details were hidden. The domain has existed for more than 3 years but seems to have been transferred to a new owner. Location is placed in either Bulgaria or Netherlands.
To contact the customer representative, clients are directed to call: +44 (0)2032395772 or +359 24518410 or email: email@example.com
There are also links to live chats and live texting on the “contact us” page of the website.
It is difficult to trust this broker with funds as many information is lacking on the website. This does not seem like a developer but rather a business front used by other vendors.