It may be too tempting to start trading using the robotic trading software like Fintech Limited. However, one should understand that trading using automatic trading software has its own set of cons. One should be aware of these disadvantages before one starts using automatic trading software to take trades.
The automatic trading software has their set algorithm and thus works only on the basis of buy and sell signals that are generated by the algorithm. This restricts you to make a choice which is flexible and as per your needs. You have very little control on the trades that the system takes on your behalf. You may be able to put in figures like the asset class that you want to trade in and the stop loss that you are ready to bear on each trade, but you will be restricted to take trading decisions like the price that you want to buy your stock at or the target price that you want to keep. These are decided based on the algorithm and thus you just need to wait and watch the trade with no control.
The automatic trading software is expensive and developing them needs a lot of expertise and cost. Though most of the trading software is free, however, they only offer the basic functions to you. In case you want to go for advanced functions then you will have to pay to use the advanced tools. These are not cheap and thus trading with an automated software means that you should be ready to shell out a lot of money to be able to use its features.
The automated trading software uses robots which work on what is built into it and does not apply any logic. This means that in case you want to make some changes in the middle of the trade, you have no authority to do so. Also, the system will work only on the basis of what setting you have inputted. Like suppose you may have inputted that you want to trade on stocks, however in case there is a great opportunity to place trades in the commodity market, the system will not do it for you. You will have to go back and change the setting in the system to take trades for you in the commodity market. The system also works on the internet and thus if the internet connection is lost you may get delayed feeds which will impact your trades.