The forex market is literally bombarded by launches of new automated robots these days and picking out a forex robot to risk your hard earned dollars on is becoming a lot more difficult. This article will assist you to dig through all the buzz out there and pinpoint the products that genuinely present promise.

Regretably the forex robot market is a little bit of a minefield at this time because of all the ripoffs and false claims. The main thing to be aware of is to look past the hype and concentrate on the facts that are available. The primary factor that I use as a filter is the kind of proof they use as part of their sales copy. If they produce live account statements that are updated in real time it is a positive sign, but if they simply provide back-testing reports this is already a bad sign. This test alone will help you avoid 90% of the scams out there..if you see only backtesting reports and no live statements, stay away.

The next thing to observe is the general message provided in the sales letter. If it's a classic marketing message with big red headers and guarantees of doubling your money each month then you should already exercise caution. I have acquired plenty of these robots through the years and when it sounds too good to be true it usually is..trust me on that. The best quality products out there can often be the ones that have less expensive looking websites and more realistic guarantees. The truth is, no forex program can constantly double your money every month..if you see these types of promises it's normally best to steer clear of the product. If the product offers realistic profits like 10% per month I'm immediately interested.

One more thing that you should definitely look at is the refund policy. If a sound 30 or 60 day "no questions asked" refund plan is given, then it's often safe to buy the product on a test basis and review it on a demo account. Just make sure that you seek out any small print that will keep you from getting a refund in the future. It is often times required to demonstrate that the package didn't work for you before you can get your money back, so ensure that you keep copies of you demo account statements just in case this is requested later.

In most cases it is better to wait until there is some genuine end user feedback about the product before you decide. Don't get intimidated by warnings that the product will go off the market or that there're only minimal copies obtainable. I would rather lose out on a possible opportunity than rush into something that turns out to be a hoax afterwards. If it is a good product then it will normally be available on the market for a long time, so there's no need to rush.

Use the above tips and hints and you will undoubtedly avoid many of the scams out there.