Lesson 14. Anti-Scam for Automation
Red flags in robot offers: unrealistic promises, lack of verification, hidden costs, fake track records. Verification workflow: read-only investor password, FXRobotEasy Analytics check, refund policy scanner. Due diligence checklist, practice scenarios, email templates for inquiries.
14.1. Why this lesson matters
Automation attracts both legitimate developers and bad actors. Promises of 'guaranteed' profits or 'risk-free' systems are red flags. This lesson teaches you to spot scams, verify track records, and walk away when something feels off.
14.2. Five red flags in robot offers
"This EA makes 20% monthly with no losses." "Risk-free trading bot."
No trading system can guarantee profits. Losses are inevitable.
Walk away immediately. No exceptions.
"Trust us, it works!" Screenshots only; no live account link or read-only investor password.
Screenshots can be faked. Without verification, you have no proof.
Demand read-only MT5 access or FXRobotEasy Analytics verification. If refused, walk away.
"Free EA!" but requires $500/month signal service or specific broker with high spreads.
Hidden costs erode profits. You end up paying more than advertised.
Ask for total cost breakdown upfront. Compare to transparent alternatives.
"Only 3 spots left!" "50% discount ends in 1 hour!"
Scammers use urgency to bypass your due diligence.
Take your time. Legitimate vendors don't rush you.
"All sales final." "Refunds at our discretion."
You have no recourse if the EA doesn't work as described.
Check refund policy and terms carefully. Legitimate vendors offer clear, fair refunds (e.g., 30-day money-back).
14.3. Verification workflow
Before buying any robot, follow this verification sequence:
Ask for read-only investor password
EssentialRequest MT5 read-only access to their live trading account. You should see full trade history, balance, equity, and drawdown.
Check FXRobotEasy Analytics
RecommendedLook for verified track records on FXRobotEasy Analytics (https://www.fxroboteasy.com/analytics). Verified accounts show unedited statistics, drawdown, and consistency.
Cross-check consistency
CriticalCompare claimed results with verified data. Look for: realistic win rate (not 90%+), visible drawdowns, consistent lot sizes, and no long gaps in trading history.
Review recent performance
ImportantFocus on last 3–6 months. Old cherry-picked winners don't matter. Check if the EA is still trading actively.
14.4. Refund policy scanner
A clear, fair refund policy is a sign of confidence. Look for these elements in the Terms of Service:
Good refund policy includes:
Terms to search for in ToS:
refundmoney-backguaranteereturn policysatisfaction14.5. Due diligence checklist
Before purchasing any EA, tick off these items:
14.6. Practice scenarios
Apply your scam-detection skills to these two scenarios:
Ad says: 'Guaranteed 25% monthly return! Zero risk! Only $297, but offer expires in 24 hours! No refunds.' No track record link. Testimonials with stock photos.
Red Flags:
Verification Items:
Product page: 'Verified track record on FXRobotEasy Analytics. Average 2–4% monthly; Max DD 15%. 30-day money-back guarantee. Public parameters and documentation. Demo-first recommended.' Provides read-only MT5 password.
Red Flags:
Verification Items:
14.7. Email template builder
Use this template to request verification from any EA vendor before purchase. Copy, customize, and send:
Subject: Verification Request Before Purchase Hello [Vendor Name], I am interested in your EA [EA Name], but I would like to verify the track record before purchasing. Could you please provide: 1. Read-only investor password for MT5 live account (or FXRobotEasy Analytics link) 2. Confirmation of refund policy and terms 3. Documentation on risk parameters and typical drawdown Thank you for your transparency. Best regards, [Your Name]
Lesson 14 Quiz
Test your understanding with 3 questions. Pass with 2/3 correct.