Why do brokers hate the Forex Megadroid robot so much?
As someone who is still fairly new to forex trading, I toyed with the idea of using a trading robot to give me a head start in the business. After trying out a few robots that left a lot to be desired, I gave Megadroid a shot.
When forex trading robots first surfaced several years ago, the brokers quickly became very aware of a new threat to the conflicthold they had on the millions of traders out there.
Because brokers typically trade against the traders, which means if you win then they lose and vice versa, anything that gives us an advantage is bad news for them. So what did the brokers do to protect their massive earnings:
They rigged the system so that robots could not take winning trades !
The brokers implemented their own software, or robots, to detect when a traders account was being traded with a trading robot. Once detected, the brokers did whatever they could to stop it making money.
One of the ways they prevent robots from trading profitably is to raise the spread on the currency pair in question during the hours that robot tenders to trade. Other tactics that use are to block you from trading when a robot is detected, or to close your account altogether!
So where does the Forex Megadroid robot fit into all this? Well, quite simply, the Megadroid robot is different from the others because it is able to trade undetected.
The new technology the makers of Megadroid have…