FAQ

General Questions

1. What is Forex?

Forex is a commonly used abbreviation for "foreign exchange" and it is typically used to describe trading of currencies in the foreign exchange market by investors and speculators. Forex is the world's most traded market, with an average turnover in excess of US$4 trillion per day. Compare this to the New York Stock Exchange, which has a daily turnover of around US$50 billion and it's easy to see how the foreign exchange market is the biggest financial market in the world.

2. What is a Forex robot?

A Forex robot (also called expert advisor) is an automated robotic script written in MQL4 language that can work in the MetaTrader 4 platform. MetaQuotes Language 4 (MQL4) is a language for programming of trading strategies. This language allows you to create your own Expert Advisors. (there are also robots for other trading platforms).

3. Can Forex robot work when I am away or go out?

Yes, it can work 24 hours/day for you but only enters new trades between 21-22 GMT during summer and 22-23 during winter.

4. What is the minimum leverage required?

We recommended have about 1:400 or 1:500 leverage.

5. What is the percentage of winning trades?

According to our TICK DATA, REAL SPREADS, REAL SLIPPAGE & INCLUDING COMMISSION ($9 per round turn) results from 2010-2019, masterbots has a high win rate of 70% to 80%. NOTE: Results are based on historical data. There is no guarantee of future performance. You should understand the risks involved with trading. Different brokers can produce different results due to spreads and liquidity. Your capital is at risk. Beginner traders should research and learn about trading before using any forex software.

6. How much money can I make with this forex robot?

There are no guarantees in trading, you should understand the risks involved with trading any forex system and not use any if you are unsure. The market changes all of the time and nobody can 100% predict in which way it will go. There is no guarantee of future performance. Different brokers can produce different results due to spreads and liquidity. Your capital is at risk. Beginner traders should research and learn about trading before using any forex software.

7. Do you provide support

We provide rapid dedicated email support to all of our users. We aim to reply within 24 hours, excluding weekends. if you have any questions or if you need support.

8. Does masterbots get regular updates?

Masterbots took years of programming and historical data testing. If we or any of our users identify room for improvements then we will update Masterbots and ensure all users have the most up to date version.

9. Can I use your Expert Advisors (Forex Robots) with other advisors on same account?

Yes, you can use. All of our Expert Advisors (Forex Robots) are completely compatible with other advisors.

10. Are there any additional charges?

No. There are not additional charges or hidden fees. It is one time payment and you receive life time membership, free support and updates for the product which you have bought.

11. What do I need to start trading Forex?

First you need a computer with a minimal hardware configuration and a stable internet connection. Second you need to install Metatrader 4 trading platform. You don't need to have any additional Forex knowledge because our forex robots includes detailed user guide and installation instructions.

12. I have no experience with Forex Robots. Is it easy to use?

Using an expert advisor for trading is a very simple and easy way to start trading the Forex markets. Just few, clicks to install and run.

13. Can masterbots bots work automatically?

Yes, All can work 24 hours per day from the market opening on Monday to the market closing on Friday. You don't need to monitor you trades. Our EA will do it for you. It will monitor the trades, open and close positions automatically.

14. Where can I download MT4 (Metatrader 4) trading platform?

MT4 is a free trading platform. You can download it from the official web sites of your broker.

15. What do I need to start trading Forex?

First you need a computer with a minimal hardware configuration and a stable internet connection.
Second you need to install Metatrader 4 trading platform.
You don't need to have deep Forex knowledgei to use the bots.

16. Can I use the bots with any broker?

Yes , you can use any broker that offers the Metatrader 4 trading platform, but for best experienced results we suggest you to trade with Brokers that we recomended.

17. What time frame is recommended to use the bots?

All the bots are designed to work with all time frame. Check the backtest to see and try your own configuration too.

18. What will happen if I lose internet connectivity for a short time?

This will not affect the system as long as the internet is reconnected within a short period.

19. I want to Buy EA Advisor, How do i pay?

For now we just accept Bitcoin payments because they are fast and cheap fees.

20. Can I use the robot on more than 1 Account?

This will depend on the number of licenses you buy, each license works on 1 account.

21. When will I receive my robot after purchase?

You will receive your robot within 24-48 hours after purchase. You will receive an email where you will be notified that you can now download your bot from your office in the purchases menu.

22. Will you be taking out new automatic systems?

Yes, we will update our bot system and we will include new ones every so often.

23. Do you have backtesting to see results of your systems?

Yes, we have many backtest so you can check different configurations with different currency pairs.

24. I have not received your registration email, why is it?

If you have not received the registration email or another email from us, it is very important that you always check the spam folder. And accept our emails and notifications as safe and reliable emails.
It is also very important that you try to register with a GMAIL email, since yahoo, hotmail etc, sometimes tend to give you problems.

25. Is there an affiliate system?

To learn more about our affiliate program visit the affiliates section click here.

26. In what pairs can the bot be used?

They can be used in any currency pair.