Trading forex is a risky but potentially profitable activity. The high volatility of currency pairs means it is easy to lose money as well as make it, and there is often a certain amount of luck involved when new traders are rewarded with big wins.
Beginner traders can tip the balance in their favour by using certain tools or systems, but the industry is prone to scams, so traders need to exercise caution when picking trading tools and systems such as trading robots. There are legitimate automated trading bots, but there are also scam bots around. So, which is Forex Trendy: scam or legit? Let’s take a look.
What is Forex Trendy Trading Robot?
Forex Trendy is a software that scans currency pairs and generates charts accordingly for you to use in your trading activities. The software is set to scan currency pairs on all time frames and identify trends that the trader can use to take profits.
The system aims to advise traders of the best trending pair for them at any given time while also allowing them to avoid trading during uncertain market periods when clear trends may not be evident or reliable. The software does not use a range of technical indicators, like some forex trading bots, but instead relies on pure price action.
What does Forex Trendy Trading Robot Offer?
Forex Trendy offers traders a simple subscription model currently priced at $37 per quarter. For that payment, you get access to a members’ area where you will find live charts based on price action, identifying the best trending currency pairs and time frames.
You can set up alerts in the membership area to notify you of when trades should be executed. You can also customise your trading there, selecting or deselecting specific currency pairs or time frames. Traders can quickly cancel their subscription if dissatisfied with the service or simply find they no longer need it.
The system covers 34 currency pairs and allows for time frames from minute to month, and there is no software to install. Once logged in, you can access all the charts and trading signals and start trading accordingly. The trading robot generates the results online, so it can be used alongside whichever trading platform you use, such as MT4/MT5, NinjaTrader etc. Forex Trendy also has a user-friendly interface and some bonus features, such as the eBook Understanding The Myths Of Market Trends And Patterns which is sent to all paid subscribers.
We would point out that there does not seem to be much information about who is behind Forex Trendy, but that in itself is not necessarily an indicator of a Forex Trendy scam or a reason to avoid the firm. The system itself works well and provides traders with precisely what it promises, although with Forex Trendy, as with every trading tool or system, we urge you not to rely on it as any kind of guarantee of profits or success.
Is Forex Trendy Trading Robot Regulated?
The Forex Trendy Trading Robot is not regulated. Then again, we wouldn’t expect it to be. Automated trading systems such as trading bots are not required to be regulated, and no specific regulatory body is set up to oversee them. Regulation tends to be for companies providing an investment service, such as forex brokers and financial institutions. Trading software, tools and indicators are therefore not regulated.
As already mentioned, this software can be used with any trading platform or forex broker, so make sure that your broker is fully regulated and that you are using a reliable trading platform. Forex Trendy is just an extra tool you are using to help you trade. You will not be investing any actual money, except your subscription fees, with Forex Trendy.
Is Forex Trendy Trading Robot Safe?
On the whole, Forex Trendy is a safe site. The published privacy policy clearly outlines how payment is taken from you and your data is safely collected and stored. This does not mean, of course, that your capital is safe if you trade using Forex Trendy.
Forex trading is risky, and the site carries a risk disclaimer, as any forex trading site should, pointing out that trading foreign currency pairs on margin carries a high level of risk and may not be suitable for all investors. It also states that traders are potentially at risk of sustaining a loss of some or all of their initial investment, and therefore you should not invest money that you cannot afford to lose.
Safe Forex Brokers
| Broker | Features | Min Deposit | EURUSD Spread | ||
|---|---|---|---|---|---|
 Your capital is at risk
US Clients: No Regulated : Yes
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– Regulated by FSCA, IFSC and FSC |
$10 | ECN 0.1, Standard 1.6 | ||
 73% of retail CFD accounts lose money.
US Clients: No Regulated : Yes
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– Ultra-fast execution from 0.2s |
$100 | from 0.0 pips |
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Up
Your capital is at risk
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 Your capital is at risk
US Clients: No Regulated : Yes
|
– Flexible leverage up to 500:1 |
$200 | From 0.1 | ||
 Your capital is at risk
US Clients: No Regulated : Yes
|
– 40% New Member Bonus
|
$100 | Fixed |
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Up
Europe* CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 79% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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 81% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
US Clients: No Regulated : Yes
|
– FCA (FRN 509909), ASIC, FMA, and FSCA Regulated. |
100GBP/AUD/EUR/USD | variable |
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Up
81% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
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 Between 74-89 % of retail investor accounts lose money when trading CFDs
US Clients: No Regulated : Yes
|
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$200 | NDD 0.09 / Standard 0.69 |
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Up
Between 74-89 % of retail investor accounts lose money when trading CFDs
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 76% of CFD traders lose money
US Clients: No Regulated : Yes
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$50 (varying by Country) | from 1 |
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Up
76% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.
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 Your capital is at risk
US Clients: No Regulated : Yes
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$5 | From 0.0 pips | ||
 Your capital is at risk
US Clients: No Regulated : Yes
|
– CySEC, FCA, FSCA, SCB Regulated |
$100 | |||
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As our Forex Trendy review has indicated, this system provides traders with the information they need to assess the forex markets and see which currency pairs and time frames might work for them. Forex pairs are scanned, and charts are generated based purely on price action without the use of supplementary tools and indicators. The Forex Trendy site carries all the information you would expect, including a detailed privacy policy and risk disclaimer, which can be accessed in the site’s footer.
The system operates on a quarterly subscription, which is highly affordable and can be cancelled at any time, so if you decide to try out Forex Trendy, you will not have to make a major commitment. However, there is no free trial or demo version of the software, which we like to see when trying out new trading tools. The customisable system allows you to select and deselect specific currency pairs depending on your trading aims. It has a user-friendly interface and can be used with your current broker and trading platform. As with any system, we urge all traders to practice discipline, be aware of the risks, and never invest more than they can afford to lose.