Forex Pro Island Software Q&A
Forex Pro Island Software is brand new and currently regarded as one of the best automated trading systems for FX. That said, a lot of people have been asking questions about Forex Pro Island Software, which we are here to answer.
Which Operating Systems & Devices Can I Use This App On?
You are probably wondering on what devices this Forex Pro Island Software can be used on. Well, of course, it can be used on your desktop or laptop computer, and it works on both Windows and MAC operating systems. Moreover, this software is also mobile friendly. It can be used on smartphones and tablets alike, as long as they run on either iOS or Android operating systems. In other words, you can use this app to trade whether you are at home or on the go.
What Is The Minimum Recommended Balance To Use This App?
As is the case with any type of FX trading app, you are going to need a minimum account balance, not only to trade, but to ensure that your account doesn’t get wiped out from a single losing trade. If you want to start off small and only place a couple of trades, it is recommended that you start with a minimum account balance of $150. However, if you want to trade with a bit more risk and at slightly higher volumes, a minimum balance of $500 or even $1,000 is recommended.
Does The App Set Stop Loss Automatically?
One of the really neat parts of Forex Pro Island Software is that it does set the stop loss level for each trade for you. This app uses a highly sophisticated algorithm which performs a myriad of market analysis to automatically figure out and set the ideal stop loss level for each FX trade placed. This is convenient because it means that you don’t have to figure this out on your own. More important, having a good stop loss level set means that you can save money and recoup some of your losses in the event that a trade does not go your way.
Can I Run All 6 Forex Pro Island Software Bots Simultaneously?
What you need to know about Forex Pro Island Software is that it comes with multiple bots integrated into it. Each of these bots is designed to trade 1 specific currency pair. Therefore, this app is designed to trade the 6 most popular and most profitable FX currency pairs. Sure, if you want to just test things out and start off slow, you can run 1 or 2 bots. However, if you want to make lots of money and trade at high volumes, there is no reason why you cannot let all 6 of the currency bots run at once.
When Should I Turn Forex Pro Island Software On?
Something else you should know about this autotrader is that there is a right time and a wrong time to trade. Now, the Forex market is of course closed on the weekend, so there is no point in turning it on over the weekend. However, the FX market is open all week long, for all 5 weekdays. If you want to engage in high volume trading all week, it is recommended to let the bot run 24/5. However, if you want to decrease risk a little bit, only letting it run from Tuesday to Thursday is best, as both Mondays and Fridays can be quite volatile.
Will Forex Pro Island Software Automatically Close Trades?
Yes, this is another great aspect of the Forex Pro Island Trading app, that it closes trades for you. The whole point of this app is to open and close trades for you without you having to lift a finger. If a trade goes south, this app automatically closes trades based on the stop loss level. If the trade is in the money, there are a variety of take profit levels included, so the app will automatically close trades and take home profits. Either way, the app closes trades all on its own without you actually having to do anything.
Can I Close Trades Before The Take Profit Level Is Achieved?
Yes, although this is an automated piece of day trading software that does all the work and closes trades for you automatically, you do still have the option to close trades manually. If you can see that you have profits, but the trade may not reach the take profit level before things turn around, you can close the trades on your own. The same is true in the event that you start bleeding money due to a losing trade.
Can I Use This Software With MetaTrader 5?
Forex Pro Island Software is designed to be used exclusively on the MetaTrader 4 platform, simply known as MT4. However, although there is a newer version of MT, MetaTrader 5, this particular automated trading bot does not work on it. You have to use MT4 with this piece of trading software.
Is This Software Available Where I Live?
Yes, in all reality, no matter where you reside, you should have access to it. Forex Pro Island Software is available in USA, UK, EU countries, Canada, Australia, Singapore, as well as Asian, African and Middle East countries, and most other countries too. Chances are almost 100% that you will have access to it in your country.
How Much Does The Forex Pro Island Bot Cost?
The cost to own Forex Pro Island Trading Software is a flat $299. Once you purchase it, it’s yours for life. There are no other fees beside that $299 whatsoever.
Forex Pro Island Software Q&A – Final Thoughts
At the end of the day, we do strongly recommend that you try out Forex Pro Island Software. At this time is the most profitable automated trading bot for Forex around. We hope that we were able to answer all of your questions. If you have any more questions, feel free to ask!