Forex Megadroid is an automated trading software platform that was released in 2009. This software may be used by U.S. traders and is only available in English. Please contact the Forex Megadroid customer service team to find out if this software can be used in other countries. This software does operate in multiple time zones as it is run from a personal computer. Traders must understand the tax laws and regulations of their country before engaging in forex trading. Forex Megadroid does not have a mobile trading platform but their software is completely automated. This software is great for beginners because the Forex Megadroid places all of your trades automatically using strategy and indicators to execute the most favorable trades. This software can be easily downloaded to a computer in 5 to 10 minutes and you may immediately begin trading. These trades can be placed all day or night as the automated software will do everything for you. The website does not have a frequently asked questions section and does not have a lot of information on the trading software. This website offers a list of terms and privacy policies that are written in a legal format. The Forex Megadroid site is not user-friendly and is not easily readable. This site does offer a blog where customers can talk about the Forex Megadroid software. The Forex Megadroid customer service team can be reached by email but there is currently no live chat support. The only currency pair that can be traded with Forex Megadroid is EUR/USD.
Forex Megadroid Features
Forex Megadroid is one of the least expensive forex trading software platforms, costing only $97. Although Forex Megadroid can only trade EUR/USD, the spread is usually very low and this currency pair is usually stable. The timeframe for trading is set at a long-term basis with trades occurring every day or two. There is also a 60 day money back guarantee for customers who are not satisfied with the software platform. Forex Megadroid is compatible with Meta Trader 4, a common trading platform that many brokers use. This software is also able to run 24 hours a day and 7 days a week but your computer must be left on for the software to work. Also, this software only requires an internet connection to run effectively. Forex Megadroid uses a unique software program that has been shown to trade 99% winning trades. The software is patented and there is no other software of this kind on the market. Forex Megadroid allows you to set the risk percentage and the aggressiveness of trading to fit one’s style and needs.
Forex Megadroid Account and Trading Information
The Forex Megadroid software does offer a demo account where customers can trade virtual money to learn about forex trading before engaging in real money trades. When customers are ready to trade with real money, they can easily switch to a regular account. It is recommended to start trading with at least $2,000 to make a decent amount of profit. There are some other forex terms that you should be aware including:
- Scalping: Scalping is also known as a quick trade. Scalping is a trade that is executed by holding a trade position for seconds up to a minute and is subsequently traded. Scalping is designed to reduce the risk of losing money and profit is accrued in very small amounts. Speak to the Forex Megadroid customer service team for information on their scalping policy
- Phone Dealing: Phone dealing uses a representative to buy and sell currency pairs on your behalf. A representative places these trades while you are on the phone with them. Traders should contact the Forex Megadroid customer service team for information on their phone dealing policy.
- Hedging Capability: Hedging is a trading strategy that utilizes one or more positions to reduce the risk of losing money. Speak to the Forex Megadroid customer service team for more information on their hedging policy.
- Liquidity: Liquidity is used to assess the effect that a big transaction has on the price of a currency pair. High liquidity means that the price is not greatly affected by a big transaction. Contact the Forex Megadroid customer service team for more information on liquidity.
- Guaranteed Stop Losses: Stop losses are the termination of trades in an effort to lessen the amount of money that is lost. Speak to the Forex Megadroid customer service team for more information on their guaranteed stop loss policy.
- Fixed Spreads: A spread is the difference between the ask price and bid price. A fixed spread is static and does not change with market fluctuations. These spreads tend to be more costly to the customer in order to make up for market fluctuations. Get in touch with the Forex Megadroid customer service center for more information on their fixed spread policy.
- Interest on Margin: Margin is the amount of money that is required to hold a trade position open. Some forex brokers and companies will charge interest fees on margin. Investors can easily contact the Forex Megadroid customer service team for more information on their interest on margin policy.
- Order Processing: Order processing is the manner in which trades are carried out. Forex trading companies use varying times and methods for processing trades. Speak to the Forex Megadroid customer service team for information on their order processing policy.
- No Dealing Desk Execution: This is a trading technique that uses several providers to get the best bid and ask prices. Speak to the Forex Megadroid customer service team for information on their no dealing desk execution policy.
- Swap-Free Accounts: A swap is the action of buying and selling one currency pair for another at the same time. Some traders do not use swap trading because of religious or personal beliefs. Swap-free accounts attempt to counteract the loss of profit due to the lack of swap trading. Contact the Forex Megadroid customer service team for information on their swap-free account policy.
Areas of Activity
It is a compact broker with pinpointed ambitions. It streamlines it efforts only in USA and has sufficient regulation here. Developed by Navitech LLC, it encompasses all sorts of firewalling, clients’ privacy and boasts an admirable 95.82% accuracy in its trades. It has been in the game for 3 years now and specializes and supports Euro/USD only.Forex Megadroid,