Best Forex robots reviews and comparisons. I’ve collected here the most popular forex robots that have gained the best ratings and positive reviews from our website users.
It will save you a lot of time and efforts. The rating and comparison table below displays the best forex robots and EA’s we reviewed on eforexcourse.com website and that gained the highest degree in our visitors ratings.
How to Buy the Best Forex Robots?
Forex Robots – also known as Expert Advisors (EA) – are automated software programs that generate buy and sell signals. Most of these robots are built with MetaTrader using the MQL scripting language, which lets traders generate trading signals or place orders and manage trades.
Quite simply, Forex robots are designed to identify the best trend available in the market and then enter low risk trades and start producing some few pips. Forex robots can operate with minimum human involvement.
But before it can start trading you’ll need to set up rules or restrictions for the robot how will work in order to work correctly and generate the expected profits. After thr robot has been programmed it will start spotting a valid trading pattern and then will take the proper action to gain some revenue.
The forex robots are able to execute many tasks simultaneously and operates 24/5 to accomplish these tasks. There’re definitely many forms of thes Fprex robots released to the market. You buy the program, configure it and open a demo/real trading account, and just let start trading for you all the time.
Forex robots will grab a steady stream of easy profits out of the forex market every single month with no too efforts from your side, and in the at the same time you will be able to relax and enjoy your life as you like.
Forex robot trading is a method of employing artificial intelligence to achieve forex trading for two categories of market participants; the experienced traders as well as beginners.
Regarding the experienced traders, the robots’s analysis and forecasting power is what is required to get a remarkable success in the Forex market while the beginner trader depends on the robot’s capability to generate profits in the forex market.
Forex robots has established itself in producing profitable trades since the 90S. Simply just download the robot and install it on your trading platform, then relax and enjoy watching the profits accumulate in your trading account.
Before Buying a Forex Robot, Follow These 4 Guidelines:
Before getting the best Forex robot that convinced you, make sure that this robot’s features fulfills at least the following 4 crucial requirements:
1. Successful Back test:
Back-testing is a technique to indicate if a Forex robot will make profits on a live trading. Forex robots’ developers employ this feature to promote their products to potential customers. Robots that present 100% success on back-testing must be able to gain profits of 80% at minimum in the live trading.
2. Forward Live Trading is Included:
It isn’t enough for your best Forex robot to be back-tested; additionally, it should have live trading records included. Most vendors disregard the shifting feature of the currency market, forcing their potential buyers to assume that what they watch throughout a back-testing is exactly what they’ll get in the live trading.
Not every Forex robot seller incorporates the live trading history for the robot in order to support their back-test results. Try to find a robot that declares it’s live trading records, which are verified by a third-party like MyFxbook.
3. Minimal Drawdown:
Drawdown represents the total of percentage loss that a strategy resulted in before it can start to make wining trades once again. The risk of automated trading can be monitored with the drawdown feature. A good Forex robot should have no more than 15% drawdown, which means that your robot comes with powerful trading strategies to help you win the trading game and be more successful trader.
4. Money Management & Support:
Even if the back-testing and forward live trading results are good, there is absolutely no revealing what and how the near future is going to be. To be assured, you need to get a Forex robot that apply a solid money management strategy. Forex success is centered on long term wealth building, therefore you will need all the help you can get from the robot developer.