Free Vs Commercial Forex Robots
Firstly a forex robot is nothing but a piece of software that automates the process of forex trading by trading without human interference as per parameters defined. Since a forex robot is a result of experience, it can be considered a kind of expert system that has intelligent inputs from forex experts and has taken a lot of time and money to develop.
There are a lot of free forex robots available across the internet; however, the question is that if someone has taken so many pains to develop a forex robot, why he or she would give it away for free..! Does this mean that all forex robots are worthless?
Let us look at a few aspects here:
a. A forex robot when offered for free may mean that it is a beta version that is being offered for testing by other forex experts as to its effectiveness. However, when the final version of the forex robot is released to the market it will cost money to buy. Most free forex robots available today fall in this category.
b. Online marketers who are looking to make money from forex trading may offer a forex robot for free. In such an event, the forex robot offered for free will have limited functionality and once a trader gets hooked to it, he would buy the final version by investing in it.
c. The third category of free forex robots comes from developers or programmers who have developed the robot and it is not really market relevant. They offer these forex robots for free since these can be used by many traders for basic functionality. The programmers realize that their robots cannot be a commercial success since they are not market relevant.
d. Most important issue to me are the bugs, no support, no optimization and often no documentation. What good is a free system if you know nothing about it, don’t know what pairs it was designed for, what bugs it consists of, hasn’t been optimized in forever, and no one to contact for support..
The inference here is that all free forex robots are not worthless. Most of them work up to a particular level of expertise where a human hand would be required. The paid or professional forex robots automate the complete process and help a forex trader earn real money in good time. But finding the right one is the hard part. That’s where ForexFBI comes in.