Forex Automoney Review
This page contains an executive summary and detailed review of the ‘Forex Automoney Forex Trading Services‘.
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Forex Automoney Executive Summary
Forex Automoney Review
Estimates put it that between 90% and 95% of foreign currency exchange (forex) traders lose money when they trade forex. Even less so actually make a living out of it. If that doesn’t put you off even trying then you’d better make sure you have all the training and tools you need before you even think about putting real money down.
The fact that you are reading this review means at least you’re not one of those who blindly jump in feet first in the hope that luck will be on their side, at least until they manage to find their way around. Unfortunately for those who do jump in feet first they surely sink first, either to pop up again after a few very expensive lessons, or they are never to be seen again.
Let’s face it, an awful lot of money is made by a very small number of forex traders, and in order for those who make money to do so, someone, somewhere has to pay for it.
So what can the wannabe forex trader do to prepare themselves before venturing into making their first trade? There is certainly some training they will need to do and there are also a number of tools they can use which of course they need to learn how to use first.
Fortunately there are a number of websites which provide different kinds of training, and there are a number of websites which provide different kinds of tools to use. Unfortunately what there are not, are many websites which provide everything they need in one place. Forex Automoney was one of the first to do so.
Forex Automoney is a fully comprehensive forex trading service. To be clear, it is not a brokerage. Forex Automoney will not hold your trading capital for you and make your trades. You would need a forex trading platform for that such as eToro.
What Forex Automoney will do is help you get started with you trading and provide you with the tools you need to successfully trade forex like a professional on an ongoing basis. The types of tools we are talking about are what are known as ‘forex signals’. Forex signals are alerts which you receive which indicate when foreign currency pairs are about to make shifts in price movement. Using these signals, you use one currency to buy another currency (currency pair), let the shifts take place, then sell the currency pair for profit.
Whilst you can trade just about any currency pair you like, Forex Automoney provides data and signals for 16 currency pairs. Far more than most similar services. For example they provide signals for:
Depending on what the signals are telling you, you decide which currency pair you wish to trade (or use your own pairs) and make that trade using your broker or forex trading platform.
What makes Forex Automoney stand out from the rest is the support they provide to make sure you know what you are doing and what indicators to look out for. After all it’s not just the forex signals which make you profit, it’s knowing what to do with those signals as well.
Forex Automoney prides itself on their customer support and training. For a start as soon as you join you get access to personal coaching and their online library of forex trading manuals. There are step-by-step instructions on how to use their system, an extensive knowledge base which is continually added to by their own experts and the customer/users. Finally and most importantly there is 24 hour, 7 days a week support staff you can call on for whatever questions you might have.
Forex Automoney is not limited to tools for novices either. Once you get the hang of how it works you’ll be able to take your place alongside season professionals which use the Forex Automoney member site to trade for their own customers and corporations.
Finally of course there is a huge community of fellow traders, some of them novices and some of them experts who frequent the members area day and night wanting to discuss their forex trading successes and failures with other members. Remember this is a moderated area, not like free website forums which are usually frequented by unscrupulous individuals who offer free advice for their own gain and usually at your expense. The ideas and advice you can get from the Forex Automoney members area can be trusted, and that is worth the price alone.
In addition to this and the large number of currency pairs available, the members area also includes stop loss and take profit levels, intraday, short term and weekly strategies and a live helpdesk run by professional forex traders.
These are the exact same tools which large corporations provide to their forex traders> Traders who spend their days scalping currency movements off unsuspecting investors – the ones who make up the 95% we mentioned at the beginning of this review.
To join, all you need to do is complete the form on their website, after which you will be given your own username and password. You use this to enter the members area where all of the training personnel and materials are available to you, plus of course your ‘control panel’ where you set up your signals. The interface is intuitive and easy to understand. Assuming you have set up your trading platform with a company such as eToro, you are ready to go.
Forex Automoney Review Conclusion
There is a monthly fee of US$99.99 to use the services, although they do have a fully functional ‘trial offer’ of only US$4.95 so you can check everything out for yourself before you commit for the longer term.
If you are new to forex, to start with we highly recommend you use a broker or platform such as eToro which offers a ‘demo account’. In this way you can get a the hang of things before risking any real money. This is very important as everyone makes mistakes to begin with, so make your mistakes using fake money first.
It really cannot be any easier. You don’t need your own computer either, you can access the members area from any computer anywhere, even in an internet cafe if you’re on holiday somewhere.
If after your trial, or anytime thereafter you can cancel your membership at anytime, and as Forex Automoney uses Clickbank Inc as their payment processor, you have up to 60 days to claim a refund on any subscription payments already made if you wish to do so.
We hope our Forex Automoney review has given you enough information about the product for you to make an informed decision.
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