Forex Bullet Proof is an established brand of forex trading software. This software is available in English and can be used by U.S. traders. Please speak to a Forex Bullet Proof customer service representative for information on using Forex Bullet Proof in countries other than the United States. It is also necessary for you to understand the tax laws and regulations of your country before you begin trading forex.
This software can be used in a variety of time zones because it is run from the time zone where your computer is based out of. Forex Bullet Proof is an automated trading software program but customers are able to set the aggressiveness of their trading to personalize the software based on their needs. Forex Bullet Proof does not have a mobile trading platform but the software can be quickly downloaded to your computer.
Forex Bullet Proof does have live chat support and their customer service center can be reached by email. The Forex Bullet Proof website is quite unorganized and information is hard to find. It lists the reasons why other forex robots are insufficient in a conversational manner. The website is dotted with comic book images and casual language. It is not a very professional website and does not have much detail about the software program. This website does list the terms and conditions of the software but does not have a frequently asked questions section.
Forex Bullet Proof Features
The Forex Bullet Proof software offers an option for customers to buy a manual trading software program. This is a unique option as most automated forex trading programs do not have a manual trading system available. Once you purchase the software, Forex Bullet Proof offers many free trading videos as well as a frequently asked questions section.
This software also has a free expert advisor, free updates for the life of your account and tutorial videos. This software is reasonably priced and can be purchased for $149. There is also a 60 day money back guarantee if you are not satisfied with the software. The software program allows customers to set parameters, like aggressiveness, as well as stop loss and take profit levels.
The Forex Bullet Proof software program has been designed to favor stable trading conditions and to protect against money loss. Forex Bullet Proof is able to trade EUR/USD and USD/JPY but there is no indication on their website if customers are able to trade other currency pairs.
Forex Bullet Proof Account and Trading Information
Forex Bullet Proof does have a basic regular account but there is no information about a demo account. Please speak to a Forex Bullet Proof customer service representative for more information on demo accounts. Forex Bullet Proof claims that if you are only trading EUR/USD you can make a decent profit with as little as $450 in your account.
However, if you plan to trade both EUR/USD and USD/JPY, it is recommended that you have $4,000 in your account in order to make a substantial profit. Contact a Forex Bullet Proof customer service representative for their typical spread on EUR/USD.
In addition, you will need to understand some other forex terms including:
- No Dealing Desk Execution: This is a trading strategy that makes use of multiple providers to find the more favorable ask and bid prices. Contact a Forex Bullet Proof customer service representative for information on their no dealing desk execution policy.
- Scalping: Scalping is also called fast trading. Scalp trading involves holding an open trading position for a minute or even a few seconds and then immediately executing a trade. Scalping is used to lower the risk of money loss and profit is made in small amounts. Traders should contact a Forex Bullet Proof customer service representative for information on their scalping policy.
- Interest on Margin: Margin is the money that is necessary to hold a trading position. There are companies that will charge interests fees on margin. Contact a Forex Bullet Proof customer service representative for information on their interest of margin policy.
- Phone Dealing: Phone dealing is a method of trading where a representative executes trades for you over the phone. Contact a Forex Bullet Proof customer service representative for information on their phone dealing policy
- Hedging Capability: Hedging is a technique used in forex trading that uses a single or multiple positions to lower the risk of money loss. Investors can contact a Forex Bullet Proof customer service representative for information on their hedging policy.
- Liquidity: Liquidity is the measurement of the effect a large transaction has on price. A high liquidity means that a large transaction does not have a large effect on price. Traders can get in touch with a Forex Bullet Proof customer service representative for information on liquidity.
- Swap-Free Accounts: Swapping is a trading style that buys and sells on currency pair for another simultaneously. There are traders who do not use swap trading because of religious or personal reasons. A swap-free account attempts to compensate for the profit loss of not using swap trading. Contact a Forex Bullet Proof customer service representative for information on their swap-free account policy.
- Guaranteed Stop Losses: A stop loss removes you from an unfavorable trade to prevent additional money loss. Forex Bullet Proof does have a stop loss policy. Contact a Forex Bullet Proof customer service representative for more information on their guaranteed stop loss policy.
- Order Processing: Order processing is the method that is used to execute trades. Forex brokers and companies have different methods and times to process orders. Traders can contact a Forex Bullet Proof customer service representative for information on their order processing policy.
- Fixed Spreads: The spread is the difference between the bid and ask price. A fixed spread is unchanging and does not factor in market fluctuations. A fixed spread is usually more expensive to compensate for market fluctuations. Investors can reach a Forex Bullet Proof customer service representative for information on their fixed spread policy.
Areas of Activity
Forex Bullet Proof offers informative guidance on trading over few pairs and also does automated trading for you. You have to set parameters. It is based in USA where it has suggestive regulation; however the software worth $149 should only be installed and played on if your country allows the process. For the record, it has quality clientele that keeps growing in USA.
Forex Bullet Proof,