News Scope Pro EA is a Forex robot software for trading popular pairs like EURUSD, GBPUSD, AUDUSD, USDCAD and USDJPY. News Scope Pro EA works on m1 timeframe and trades are automated based single or multiple-cascade orders modes. The cost to purchase one license of this EA is $117.
What is News Scope Pro EA? Either is News Scope Pro EA scam or legit?
News Scope Pro EA Review
- News Scope Pro EA is a program that claim to automate Forex trades. It’s like putting a plane on auto pilot. Traders can sleep through the night calmly knowing that their trades will be placed exactly at the times they designated. Sounds easy, right?
- Forex robots like News Scope Pro EA are getting a lot of hype of late and Forex robot scams are not far behind.
- Most Forex robot scams are easy to pinpoint and would seem obvious to any investor. But even with blatant false promises of huge profits “while you sleep” millions of dollars are dropped into these Forex robot scams every day.
About News Scope Pro EA
The News Scope Pro EA was developed by the FXAutomater team. The team is quite pouplar but nobody knows their location. Support can only be gotten from their website.
News Scope Pro EA Strategy
During our reviews of the News Scope Pro expert advisor, we saw that the did well to provide details about the software methodology.
News Scope Pro EA Result
The robot developers provided a backtesting result of 10years duration but fails to publish their result on a 3rd party statement sharing site like myfxbook and FXBlue.
The problem is that Forex robots are run based on automated mathematical algorithms, not taking into account things like market conditions that vary with political issues, weather and other factors. The inconsistency of the market is impossible to program into a robot, and therefore the results of Forex robots are inconsistent as well.
Because Forex trading is still relatively unregulated, the number of scams seem to be ever-increasing. One area in which this happens on a regular basis is with automated Forex trading bots. Many of the systems make some pretty unrealistic claims, and promise a successful trading career, even when you’re asleep. They even seem to be able to publish positive results on their sites. However, a word of warning: These amazing results are often the result of back-testing, or based on hypothetical results.