Frequently Asked Questions
Clear answers about the ForexBotWorks Engine, Components, licensing, installation, signal execution and support.
Find the information you need.
ForexBotWorks copies trading signals from a Telegram group you choose into your own MetaTrader 5 account. These answers explain exactly what the software does, what it does not do, and what stays your decision.
Want to see how your own signals would be read? Paste one into the free Signal Checker.
About ForexBotWorks
The basics of the ForexBotWorks automation system.
What is ForexBotWorks?
ForexBotWorks is Windows software that reads trading signals from a Telegram group you choose and executes them in your MetaTrader 5 account. It consists of the free Engine and paid market Components.
What is the ForexBotWorks Engine?
The Engine is the program that runs on your PC. It connects to your Telegram account and to your MT5 terminal, checks the licenses of your Components, loads them and shows everything in the Engine Dashboard.
Is the Engine free?
Yes. The Engine is free and has no license. On its own it does not trade – trading is done by the Components you install in it.
What are Components?
A Component is the module that trades one market. It reads the signals of its instruments, opens the trades and manages them until they are closed.
Available Components: XAUUSD (gold), XAGUSD (silver), BTCUSD (bitcoin) and three forex Components: Forex Major Pairs (7 pairs), Forex Minor Pairs (21 cross pairs) and Forex Exotic Pairs (40 pairs).
Which pairs are in the forex Components?
Major Pairs: EURUSD, GBPUSD, USDJPY, USDCHF, AUDUSD, USDCAD, NZDUSD.
Minor Pairs: the cross pairs of the major currencies without USD – EURGBP, EURJPY, EURCHF, EURAUD, EURCAD, EURNZD, GBPJPY, GBPCHF, GBPAUD, GBPCAD, GBPNZD, AUDJPY, AUDCHF, AUDCAD, AUDNZD, NZDJPY, NZDCHF, NZDCAD, CADJPY, CADCHF, CHFJPY.
Exotic Pairs: 40 pairs against TRY, ZAR, MXN, SEK, NOK, DKK, PLN, HUF, CZK, SGD, HKD and CNH (for example USDTRY, USDZAR, USDMXN, EURPLN, USDHUF).
In every forex Component you choose which pairs are active and set the lot size for each pair separately.
Does ForexBotWorks provide trading signals?
No. ForexBotWorks does not create signals and does not sell signals. You choose the Telegram group whose signals are copied – the quality of the trades depends on that signal source.
What do I need to run it?
A Windows PC or Windows VPS, MetaTrader 5 logged in to your trading account with algo trading allowed, a Telegram account that is a member of the signal group, and a Component license. The PC (or VPS) and MT5 must stay running while you want signals to be copied.
Products, licenses and activation
How the ForexBotWorks Component licensing works.
How does the licensing model work?
The Engine is free. Each Component is bought once and has its own lifetime license. The license is created automatically after the purchase and is shown in My Account > Licenses.
Is a Component license lifetime?
Yes. There are no subscriptions, monthly fees or renewals. A lifetime license includes all V1.x releases of its Component.
What does one Component license cover?
One license covers one Component, on one trading account and one device at a time.
For example, the XAUUSD Component has its own license, the BTCUSD Component has its own license, and the Forex Major Pairs Component has one license for all of its 7 pairs.
Do XAUUSD and XAGUSD need separate licenses?
XAUUSD and XAGUSD are separate Components, each with its own license. A Metals bundle license covers both Components with one license.
Does one forex license cover Major, Minor and Exotic pairs?
No. Forex Major Pairs, Forex Minor Pairs and Forex Exotic Pairs are three separate Components and each needs its own license. A Major Pairs license does not activate the Minor or Exotic Component.
Can I own multiple Component licenses?
Yes. You can own and run as many Components as you like, each with its own license.
Can multiple Components run on the same trading account?
Yes. Several Components can run in one Engine on the same trading account. Each Component uses its own license and only manages its own trades (marked with its own magic number), so manual trades and other EAs are not touched.
How many trading accounts can one Component license use?
One trading account at a time – a Live account or a Demo account. You choose the account yourself in My Account > Licenses.
How do I change the trading account?
Yourself, in My Account > Licenses > Change trading account:
- Demo account changes are free and unlimited.
- Two Live account changes per license year are free.
- Returning to your previous Live account does not count as a change.
- From the third Live change in a license year, a change costs 80 USD.
After the change, restart the Engine (or validate the license in the Dashboard) so it uses the new account.
How does device (HWID) protection work?
The license is linked to the device on which it was first activated. The Engine and the Component check the license, the trading account and the device regularly; on another device the Component does not start.
What happens if I change my computer?
Contact Support with your license key and the reason for the change. Support releases the license for the new device. Account changes you can make yourself; device changes go through Support.
What happens if the license server cannot be reached?
The Engine checks licenses regularly. If the server is temporarily unreachable, your Components keep working on the last confirmed license check for up to 24 hours while the Engine keeps retrying. Open trades are always managed to the end.
Installation and configuration
What happens when you install the Engine and Components.
How do I install the Engine?
Download the Engine ZIP, unpack it into a folder and start ForexBotWorks.exe. The first-run setup asks for your Telegram API ID, API hash and phone number, and your MT5 account number.
How do I install a Component?
Download the Component ZIP from My Account, unpack it
into the Engine’s engine\components
folder and press Refresh Components in the
Dashboard. The Component card appears; enter your
license key, Telegram group and lot size.
Can you install it for me?
Yes. The optional Remote Installation service (80 USD, up to 1 hour) installs and configures the Engine and your Components on your PC or VPS through a remote session.
What happens if a Component is installed but not licensed?
The Component does not start. Its card in the Dashboard shows the reason (no license key, license for another Component, other account or device). A license for one Component never activates another.
Which Telegram groups can I use?
Any group or channel your Telegram account is a member of. You enter it in the Dashboard as a group ID, @username or t.me link. Private invite links (t.me/+…) are not accepted – join the group first and use its ID.
The Engine logs in with your own Telegram account and only reads the groups you configured.
Who chooses the Lot Size?
You do. The Component opens one position per Take Profit, each with your lot size, so a signal with 4 TPs opens 4 positions. Your risk per signal is therefore lot size × number of TPs.
In the forex Components you set the lot size per pair. The lot is adjusted down to the broker’s lot step; below the broker minimum the signal is not executed.
My broker uses a different symbol name (XAUUSD.r, GOLD, EURUSDm).
The Component finds the broker’s symbol automatically, including common suffixes and names. The detected symbol is shown on the Component card. If it is not found, enter the exact MT5 symbol name in the Broker Symbol field.
What happens when I add another Component later?
Copy it into the Components folder and press Refresh Components. Your running Components keep working; the new one starts as soon as its license, group and lot size are entered.
Trading platforms
Questions about platform compatibility and account types.
Does ForexBotWorks work with MT5?
Yes. Version 1.0 works with MetaTrader 5 on Windows.
Are MT4 and cTrader supported?
Not in version 1.0. The Engine is built so that other platforms can be added later, but there is no release date for MT4 or cTrader.
Does the broker matter?
Any MT5 broker works as long as the instrument is available on your account. The broker’s lot limits, minimum stop distance, spreads and trading hours apply to every order.
I have several MT5 terminals on my PC.
The Engine must connect to the terminal logged in to your licensed account. If another terminal is used, the Dashboard reports an account mismatch and no trades are opened. Keep only the right terminal open when you start the Engine.
Can I use a DEMO account?
Yes. Set the license to your Demo account in My Account > Licenses. Demo changes are free and unlimited, so you can test everything before trading live.
Can I use a LIVE account?
Yes. Set the license to your Live account in My Account > Licenses. The license checks that MT5 is really logged in to that account and that its type (Live or Demo) matches.
Signals and trade execution
Exactly what happens with a signal – and what does not.
What does a signal need to be executed?
An instrument, a direction (BUY / SELL, LONG / SHORT), a Stop Loss and at least one Take Profit as prices. The entry can be a price, a zone or missing (then the trade opens at the market price). Common formats, emojis and number styles such as 4,050 or 1,0850 are read.
Test your own group’s signals in the free Signal Checker – it uses the same reading rules as the Components.
Which messages are not executed?
- Signals without Stop Loss or Take Profit, or with SL/TP in pips instead of prices
- SL or TP on the wrong side of the entry, or BUY and SELL in one message
- Updates (move SL, new TP, correction), close / cancel messages and “TP hit” results
- Re-entry / add / buy more messages and messages with two instruments
- Edited messages – only new messages are read
- The same signal posted again within 30 minutes
When is a signal not opened even though it is valid?
When the market price is already too far from the signal entry (the Component’s entry filter, for example 25 USD on XAUUSD or 20 pips on EURUSD), when SL or TP are unrealistic versus the current price, when the SL is inside the broker’s minimum stop distance, or when the market is closed. The reason is written in the Engine log.
What happens at TP1?
When the price really reaches TP1, the Stop Loss of the remaining positions moves to the real entry price plus a small profit offset (BUY) or minus it (SELL): 5 USD on XAUUSD, 3 USD on XAGUSD, 50 USD on BTCUSD, 5 pips on major and minor pairs, 0.05 % of the price on exotic pairs.
If the price has already passed that level, the remaining positions are closed at market. If you close the TP1 position yourself, the other positions are not changed.
What happens if the Engine is restarted with open trades?
The Component remembers its open signals and continues managing them after the restart, including the SL move at TP1.
Does ForexBotWorks make trading decisions?
No. It executes the signals of the source you chose, with the fixed rules described above. It does not change the direction, invent trades or predict the market.
Does automation guarantee profitable results?
No. Results depend on the signal source, your lot size and the market. Slippage, spread changes, broker conditions and closed markets can affect whether and at which price an order is executed.
Updates and support
Keeping your installation current and getting help when needed.
How do Engine updates work?
The Engine Update button in the Dashboard checks forexbotworks.com for a new release and installs it with one click. With “Install updates automatically” turned on, the Engine installs new releases itself, but only while no signal is being managed. Updates are signed by ForexBotWorks and checked before installation.
Will an update remove my settings or Components?
No. An update replaces only program files. Your configuration, Telegram session, licenses, logs, open-trade state and installed Components are kept. If the new version does not start, the previous one is restored automatically.
What about future versions of the Components?
Your lifetime license includes all V1.x releases of your Component. A future V2 will be offered to existing customers as a discounted upgrade; V1 keeps working.
Can I get a refund?
Components have a 30-day money-back guarantee. On a refund the license is deactivated. Details are in the Refund Policy.
How do I contact Support?
Use the ForexBotWorks Support page. Include your license key, MT5 account number and, for trading questions, the Engine log of that signal (View Component Logs in the Dashboard).
Free tools
The Signal Checker and the MT5 Tracking Dashboard.
What is the Signal Checker?
A free page where you paste a Telegram signal and see exactly what a Component would read from it, what it would ignore and how the trade would be managed – before you buy anything. Open the Signal Checker.
What is the MT5 Tracking Dashboard?
A free MetaTrader 5 indicator that shows your real trading results on the chart: net profit (with swap, commission and fees), winrate, reward/risk, profit factor, drawdown and return for your test period, month, week and today, with a breakdown per symbol. You can filter by symbol and magic number, for example to follow one Component.
Does the Dashboard open or close trades?
No. It only reads your account history. It never opens, closes or changes trades and does not generate signals. It uses no internet connection and no DLL.
Do the tools require a license?
No. The Signal Checker and the MT5 Tracking Dashboard are free and need no license.
Security and responsibility
Account control, your data and trading risk.
Who controls my trading account?
You do. Everything runs on your own PC or VPS, in your own MT5 terminal. ForexBotWorks never receives your MT5 password and has no access to your trading account. You can stop the Engine or close trades in MT5 at any time.
What data is sent to ForexBotWorks?
Only what the license check needs: license key, MT5 account number and type (Live / Demo), a device ID and the Engine and Component versions. Your Telegram login, messages and trades stay on your computer.
Is ForexBotWorks responsible for trading losses?
No. Trading involves financial risk. You decide which signal source to follow, which account to trade and which lot size to use, and you remain responsible for the results.
Should I test the system before using a LIVE account?
Yes. Check your signals in the Signal Checker, then run the Component on a Demo account (Demo account changes are free) until you are sure the signals, lot size and broker symbols behave as you expect.
Still have a question?
If you cannot find the information you need, contact ForexBotWorks Support and describe your question or issue.
CONTACT SUPPORT