Is automated Forex software a scam?

Scams are an unfortunate reality in the automated forex software market, but they may be avoided by conducting due diligence on any firm. Check the websites of both the Commodity Futures Trading Commission (CFTC) and the National Futures Association (NFA) for consumer alerts.

Should you use automated trading software?

With automated trading, such all-too-human lapses of judgment just don't occur. That's because automated software is intended to make your trading decisions unemotional and consistent, using the parameters you've pre-established or the settings you've pre-installed.

Which currency pairs can you trade with automated software?

The most popular automated software systems will trade the leading currency pairs with the highest volume and most liquidity, including USD/EUR, USD/CHF, USD/GBP, and USD/JPY. Trading approaches will vary in risk, with programs geared to scalping a few points in a trade to taking larger bets.