A well-designed Expert Advisor EA can greatly improve the quality of your trading career but, with so many programs and platforms claiming to provide all this and more, how do you find the right trading robot for you?
Only the highest performing and most adaptable programs made it through to our list of recommended robots. Check out our recommended forex robots below and sign up with the one that best matches your trading requirements today.
Best Forex Robot
Forex Gump is compatible with the MT4 trading platform. Once installed, you can even use it with the mobile version of MT4, providing you with on-the-go automated trading.
Unlock your true trading potential with Rating trading robot Gump today. With over 19 years of backtesting results available, it is undoubtedly one of the more reliable EAs on the market. You can seamlessly switch between all three functions or use them simultaneously.
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This deal is backed with a day money-back guarantee. Sign up for Forex Diamond to trade with peace of mind. Its algorithm uses volume, price action, and momentum to recognize market trends and opportunities.
FX Delta also allows trades across several trading instruments, including currency pairs, cryptos, stocks, and commodities.
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It is fully functional with the MT4 platform and its mobile app. Try FX Delta and start trading smarter today. Using this software requires very little personal input, but there are customization options available.
Forex Cyborg has something to offer every kind of trader. The premium option allows you to use the robot with three live trading accounts, but both come with lifetime updates.
Which Are the Best Forex Robots and Do They Really Work?
Register with Forex Cyborg now. For traders unfamiliar with programming, the interface features a useful drag and drop option to define your trading strategies.
The source code is also available for deeper customization. You are also free to trade across several instruments including currency pairs, equities, cryptos, and futures. All accounts grant lifetime access, but the base account only receives free updates for one year.
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Explore customized automated trading with StrategyQuant today. In order to understand exactly what a Forex robot does, we should first examine Forex trading in general. The aim of any Forex trader is to predict what is going to happen to the value of a foreign currency, and to make a profit from speculation. The world of trading and processing of stocks started with humans sat behind a desk, negotiating and placing orders over the phone.
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Nowadays, as with many things, trading has gone digital, and can even take place on an automated basis, with no intervention from humans.
Many use these automated trading tools to their full advantage, turning small trading accounts into much bigger ones. However, there are also a number of traders who are treating this advance in technology with much more skepticism.
Best Forex Robots 2021
How could a robot possibly make sensible investment decisions? And there is a valid point to this side of the argument too: While there are a number of investors who have gained from using automated Forex trading robots, there are a number who have lost it all.
So how does an automated trading robot work? It uses its very own analytical abilities to investigate the past performance of a rating trading robot currency pair, both in the short and the long term. It spends its time looking for trends that have occurred, over and over again, during the lifetime of the currency pair. It is looking for troughs as well as gains, and for events that may have caused the rise or fall in price.
What are Some of the Best Forex Trading Robots in 2020?
The robot then chooses whether to carry out its own trades based on what it has uncovered by looking at past performances. It sounds pretty foolproof, and indeed it can be. But — and it is a big but — there is a downside to such a system. There is absolutely no guarantee that conditions in the market will stay the same. The world is controlled by humans, with all their human emotion and unpredictability.
For this reason, it is not possible for a computer to react to every situation. Events that happen outside of its remit will throw its investment strategy out the window, and possibly even damage it. All it takes is for one of these events to throw an automated trading system into the red.
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For every lucrative trade a robot has the potential to make, there is one waiting to trip it up. Say, for example, a political announcement is made that causes a small dip in the value of a currency. The expert trader monitors the robot, and helps in rating trading robot decision-making process, as well as adapting the program to cover any new and unexpected changes.