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30 of June of 2020 69
Forex: Are robots legal?

Is trading with robots cool in Forex?
Forex comes from English and means foreign exchange, which is proof that it involves more than one legal system. Under these circumstances, nothing is as clear or simple as it should be.
Some things that are normal and perfectly legal in Europe, such as trading CFDs, may be illegal in the USA. So, when it comes to trading with forex robots, the simple answer is:
Yes, it is perfectly legal to trade with robots in the forex market.
But under certain conditions.

Can I use robots in Forex trading?
The other thing is that, even though it is legal, it does not mean that all forms of trading with robots are ok. For example, it is perfectly legal to drive a car, but there are many things that are illegal to do with it. In fact, some brokers do not allow the use of robots for various practical and regulatory reasons. But in general, responsible and well-established brokers allow for the measured use of EA.
Automated commerce goes beyond markets; there is also the factor of the robot supplier. Some things are cool to use, but not to sell or buy. It is relevant to know if you use a self-created robot, if it is a free download, or if someone is profiting from a robot under certain advertising conditions.

Robots are not the same as trading
As we mentioned earlier, there are several types of robots. The difference between them has a practical effect on how the trader relates to the market. This in turn changes the perception of regulators, and whether they will allow use.
In the context of regulation, it is not necessary to consider semi-automatic robots. These are programs that follow the market and make more sophisticated calculations to recommend a trade. But in the end it is the trader who decides to enter the market. For practical purposes, it is a manual negotiation, but assisted by a computer program.
The legal issue enters into automatic trading, which are programs with access to the user’s account, and participate in the market without the intermediation of the trader. It is when regulatory restrictions appear. In part, it is because there may be much more risk (one reason for using them is that the trader has no control over his own money), and they are traded for operations that seek to profit from selling the robot instead of profiting from it. the trader’s profitability.

But you don’t need a law to be careful
Robots, by far, do not guarantee results. Even the best ones simply follow a series of predetermined instructions, and cannot adapt to a changing market situation. But the people who sell them want to win customers, so even honest traders can overstate the benefits of their product to unrealistic levels. This tends to be illegal.
But there are also many who simply want to make money from fraud by offering a robot that doesn’t do what it promises. This is very illegal. Many brokers do not allow robots, not because they themselves have problems using robots, but because they are concerned that it is a purchased robot that will make their client lose money. That is why if you speak to most experienced traders, they do not recommend using robots until you have an in-depth knowledge of manual trading. This helps to identify fraud.
A legal problem arises in the use of a fraudulent robot where it is legal to lose money. But the person who sold it is in another jurisdiction, and it is very difficult to hold him responsible for the misleading advertising, now imagine recovering the lost money. For these reasons, you have to be very careful about promises of easy money; just because something is legal doesn’t mean it is safe or useful.

Robots are tools; they don’t work miracles
It is true that the forex is increasingly dependent on algorithms, and automatic trading can help improve the results. But they are useful tools, they should not be a substitute for decision making. Much less should they be used as a substitute to gain experience and learn from the markets. A responsible broker will do his best to help the trader educate himself on how to trade on the market, so check what he advises before using a robot.

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