ATTENTION: FX Master Bot is a scam

Fx Master Bot official webIn this review we reveal that FXMasterBot (aka Forex Master Bot) is a scam program that is made to fool you and lose your money.

The FX Master Bot site says that it is the “No. 1 auto trading software”. It allegedly uses a professional trading algorithm developed by experts, which will provide you with trading signals that can be traded manually or automatically. The robot trades binary options and Forex.

Strangely, the robot is free. So, what’s the catch?

FX Master Bot scam

The robot is a scamThe trading software has a demo mode, so we decided to test it. We ran a first test and the robot quickly amassed winning trades, then it said that it reached a 25% profit and that we should deposit money into a real account.

So, we ran a second test, this time we closely watched every trade and we compared the prices with a regulated broker. This time we noticed that FX Master Bot is faking some trades, it artificially changed some losers to winners, like the one on our picture.

Our third test confirmed it, FXMasterBot is faking trades in the demo mode to make you think that it is really profitable. But it obviously is not. The demo also fakes open and close times of each trade, in the trading history it shows several minutes of difference, meanwhile every binary options trade it opens is always with a 60 second expiry.

The demo mode is a big lie with one hidden purpose. Continue reading.

How it really works

Every time you try FX Master Bot in the demo mode, it will quickly reach a profit and tell you that you should start trading with real money. It will then send you to the deposit page of the broker KayaFX.

It won’t even ask you if you want to open a real account, it will do it automatically and secretly on your behalf with details you provided during registration. Then it will push you to deposit. The reason is that people who run FX Master Bot are being paid by this broker for referring new depositors, that’s the story behind it.

By the way, KayaFX is not regulated, so you should not trade with it in any case.

Conclusion

FX Master Bot is a scam that fakes demo results to push you to trade with real money with an unregulated broker, beware!

No free robot will make you money. You have to learn and build yourself a proper trading strategy, you can try it on a free demo account with a regulated broker.

Don’t trade with real money until your strategy is proven to work in testing.

Summary
Review Date
Reviewed Item
FXMasterBot
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40 thoughts on “ATTENTION: FX Master Bot is a scam

  1. Hi, could you please give me an honest answer! Is there any trading bots out there that actually work and are NOT scams?
    Many thanks,
    Tim

    1. The thing is that if you use those robots, you will certainly lose. If you try manual trading, you have a chance to succeed. But yes, the majority of people lose anyway in trading.

  2. Hi. I’m trading wit FX masterbot as well as a friend of mine. and it works well. How can you say it’s a scam if you didn’t trade in real mode? A demo is what it is – a demo. And yes I agree FTO capital is a dodgy broker but 24option isn’t, so just trade with them?

    1. Sure, a free robot is making money. Who do you think will believe that? A demo faking results is a scam. Period. If FX Master Bot is now referring traders to 24option, it is against the law.

    2. Hi gert, all the reviews i read are saying it is a scam but none of them actually tried the live account. ofcourse they stopped at the demo account and concluded that the robot is scam, but actually they were barking at the wrong tree, they were scammed by the brokers, not by the robot. now, here in australia, fxmasterbot connected me to a licensed broker and im happy with that, but i was searching in google for actual users who traded with the robot. im glad to find you. so how’s the software helping you? i wanna give it a try. Thanks!

      1. You should let the broker know that FXMasterBot is connecting to their interface. Once the broker knows it, he has to block FXMasterBot, it’s the law, they cannot allow illegal robots trade on their platform.

      1. grazie mille +mille
        infatti dubitavo
        dalla sua interfaccia
        e dalle sue offerte di ricchezza immediata
        e dalla lista dei suoi utenti con la classifica dei guadagni nazione per nazione
        quasi tutta europea
        e con il nome e cognome a volte
        degli italiani con cognomi non di provenienza italiana
        vabbe’ che abbiamo un bel po’ di immigrati
        ma non c’e’ ne ‘ uno che porta un cognome con le vocali
        hanno quasi tutti consonanti
        o io sono all’oscuro
        oppure mi sono risvegliato dopo un paio di secoli
        quando tutto cio’ che ora e’ ,(presente)
        non sara’ poi (futuro)
        comunque grazie e alla prossima e buon rendere
        ciao JOHN

    1. They promote this scam with affiliate links, they get paid for referring new victims to FX Master Bot. Their reviews are fake. The binary options / Forex / Crypto space is full of fake review websites that expose some scams to gain credibility, but promote other scams to make money. Make your own opinion about FX Master Bot, open their demo alonside a genuine demo with real price from a regulated broker and you will see that FX Master Bot uses fake prices to generate fake profits.

  3. Thank you for your info. I was about to invest and emailed to someone who claimed to be from 24option.
    This is her reply when I asked her that FX Master Bot is a scam as I read some reviews.

    This is her reply…

    Dear Solomon,

    First of all we are cooperating with FX Master Bot and if you already know that is a software which helps you to make auto trading.

    Now 24 Option is one the biggest platform in the world and we can’t cooperate with Scam companies and put our reputation on risk.

    Fx Master Bot is a software that doesn’t have a platform to place trades for you, so is using 24 Option platform.

    A software can’t be a scam, because just makes calculation regarding to the Technical Analyses.

    You also have the possibility to choose if you are going to activate the software to open trades for you, or open trades on 24 Option by yourself at anytime.

    If you still have something to clarify, don’t hesitate to contact me…..
    ————————–
    What is your opnion on this?

    How about bitbubble tech, or Maximum edge?

    Thank you

    1. Hi Mohammed,

      This is very funny, because:
      1) 24option are saying that they are cooperating with FX Master Bot, so they admit they are breaking the Investment Services Law. They are not allowed to have affiliates sending them new clients through an unregulated automated trading platform. I suggest you forward what you found out about their cooperation the the regulator (https://www.cysec.gov.cy/en-GB/home/) and then I will have a big laugh when the CySEC fines 24option for this wrongdoing.
      2) The explanation saying that a platform cannot be a scam is absolutely BS. In our review you will find a proof that FX Master Bot is faking demo results to make you think that it is profitable. This is a scam practice. Period. Because it is made to make people deposit and with real money the robot is losing.
      3) If you want to find the truth about FX Master Bot, don’t ask people who have financial interests in it (FX Master Bot and all their affiliated brokers). Ask the regulators, ask the CySEC that regulates 24option, ask the national regulator in your country. I am sure they will confirm our findings.

      And here you have reviews of Bitbubble Tech and Maximus Edge.

  4. I hear all what u saying guys but it is useless to label brokers as scams without providing an alternative legit brokerage company

  5. I live in australia and all the regulated brokers over here except EA’s to trade with.
    you have been checking scams since 2013 so which EA robots are not scams?

      1. Yes if you read the small print at the bottom ,it tells you that they use rueters on real mode and another system on demo.
        Option robot is still one of the best robots for making weekly profits.

  6. John have u IQ option before?because I have been reading reviews that once u go beyond $1000 u struggle to withdraw your money from IQ option.please advice

    1. It takes some time for the withdrawal, to be safe, use skrill as mode of payment from deposit to withdrawal.. on how long, it depends, sometimes around a month

  7. I`ve heard, from a site (), that fxmasterbot is good, so I opened an account with 500 $ and today tried to make it working, but now 2 open trades are since 2 hrs open and the software don`t close them:
    USDCHF 12174 2018-04-20 12:55:21 0.97372 0.9759 0.9719
    AUDCHF 12169 2018-04-20 12:14:30 0.74929 0.7472 0.7512
    I closed 2 trades before, but they made both a loss.
    So, this software don`t working at all, only in Demo!

  8. Guys this information is very useful… But what other Binary options robot with a regulated broker is available?

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