FXMasterBot is a free software that allows you to trade binary options and forex. This software brings great advancement to the market because there is almost no software that allows us to trade with two of these popular options at the same time.
In this review, we will explain to you all that FXMasterBot offers and how you can use it. Also, we will help you understand all the features and tools you can use during your trading. We suggest that you continue to read this review and learn more about FXMasterBot!
FXMasterBot Software and Accounts
FXMasterBot is a new software that is available on the market for a while. With this software, traders no longer have trouble opening multiple accounts because they can trade Forex and binary options from one account. FXMasterBot also allows you to trade with a demo account so you can completely try out all its tools and features for free. However, we will begin by introducing 3 basic accounts with which the trades become real:
FXMasterBot Novice Account – This account is considered as a beginner’s account since deposit is only $100 which is minimum to use it. Traders get special benefits that include 3 currency pairs and chance to open 3 trades at the same time. Also, you can trade with multiple brokers and get points on Leaderboard x1
FxMasterBot Expert Account – With the upgraded form of novice account, traders can trade with 9 currency pairs, get additional settings for their account and have Leaderboard multiplier x2. Minimum deposit for this account is $500
FXMasterBot Master Account – With this account, traders will use all the benefits that FXMasterBot offers. To use this account, traders need to deposit with two brokers $500 on each account. The benefits of this account are access to all advanced settings, all currency pairs, VIP customer support treatment and Leaderboard multiplier x3.
FXMasterBot Demo Account
It’s already a known fact that the demo account is something that makes some software interesting and advanced. With FXMasterBot, you can use a demo account for a period of 5 days and trade as if you have already deposited your money. However, we must note that money is virtual and that it is not possible to make a withdrawal.
This mode of using demo account is popular among binary and forex brokers, however, FXMasterBot, in this case, shows its quality for all traders ready to use this software.
In addition to having a demo account, FXMasterBot also features settings that allow the trader to engage more interesting trading on the market. These settings are:
- Compound Wins
- Reverse Trading
- Max Concurrent Trades
- Daily Take Profit
- Daily Stop Loss
- Max Daily Trades
With an account that has been upgraded to a higher level, you have the option to use multiple settings.
How to trade Forex with FXMasterBot?
FXMasterBot forex manual trading is different than binary trading, which is thoroughly understandable as forex and binary trading is not the same. Two main options that are available for traders are Stop Loss and Take Profit. Since there are no expiry times involved traders can set their limits as they want to and pick the time when a specific trade will be closed.
FXMasterBot forex trading is similar to manual trading because traders can set up their settings for trade as they want to. This can help anyone, from beginners to the professionals to explore more settings and tools which can be used during trading with this software.
How does the FXMasterBot Work?
FXMaster Bot is a computer software created for trading with forex and binary options. It is completely web-based which means that there are no additional downloads. If you want to trade with this software, you just simply go the website and you can access everything from your browser. FXMaster Bot is not a broker but a software that serve as a link between the user and the broker.
This means that traders will not deposit with a FXMasterBot directly but with a specific broker, they can choose when they sign up. The variety of banking methods depends on the broker traders select for the initial deposit.
What is FXMasterBot Leaderboard?
During this review, we learned that trades are not the only way you can make money with FXMasterBot. Namely, all traders are enabled to participate and collect points during the trade. This means that your name may be on the leaderboard table if you have a sufficient number of points scored. This way, you can win additional cash prizes and increase your profit.
To understand better, we will explain to the traders’ points calculation:
Trade volume x multiplier + (deposits-withdrawals)
Let’s say that the trader reached the trading volume of 200$. The trader also deposited $500 and withdrawn $200. The trader is currently on the Expert Level, so his multiplier is x2.
200×2 + (500-200) = 400 + 300 = 700 points
The Leaderboard is going from the new start every month so every trader has the opportunity to share a cash prize each month!
FXMasterBot Support Information
It is already known that in the world of binary options and forex, customer support is a very important thing. We have contacted FXMasterBot customer support via chat several times during the writing of this review, and we have only words of praise. Educated, polite agents looking to help with an answer on your questions and explaining tools and features which you don’t understand.
This is not the only way to contact the FXMasterBot support team. You can always send an email and read more about rules and settings in the FAQ. This section provides many answers to the traders who want to know more information about the software.
FXMasterBot Payment Methods
As we already said, FXMasterBot is completely free software. This means that traders don’t need to pay any membership or monthly fee to use it. However, to use this software, you have to make a deposit with a broker that is available for your country. The brokers available for each country will be listed on your Dashboard when you decide to make the initial deposit. Minimum deposit with a broker is $100 and it is processed by the broker which means that FXMasterBot stays completely free for use.
FXMasterBot Review verdict
FXMasterBot is a trading software that really provides different options to trade with. Traders can trade with Forex and binary options in the same time and that makes this software more special than other. This means that with this software each trader can find a suitable option for trading at the market.
Also, traders have opportunities to win additional cash prizes thanks to the leaderboard system. To use more of the settings, tools, and features traders can upgrade their account to Master Level where they have all they need to trade at the market.
This means that with this free software, traders can invest money and enjoy trading on a completely new level!