10 The Best Forex Robot Reviews 2023 Comparison

You can click each of the column headers to sort by each respectively. Please be sure to read any red warning indicators for each robot as some have manipulated results. Finding the best forex robot can be hard, but with this table you can compare live results from the top forex eas on the market. Here you can quickly eliminate many robots that would other wise look rather appealing at first glance. Any robot with a red indicator warning should almost always be avoided.

best forex robot

The robot does all the analysis, which saves you the stress and time of doing it yourself. The cost of the Big Fish EA robot is €120 for the unlimited version, and €97 for single. Like the other 2 by this group it comes with detailed manuals, setting filest, and support. You can check this on both consecutive drawdowns as well as on a trade-by-trade basis. No two traders are the same, as some people like a maximum drawdown of 15%, while others might favour a more conservative drawdown of just 5%. Later on, when it comes to actually placing a trade you might wait for a signal and then decide yourself whether to go ahead and act on it.

GPS Forex Robot 3- Best for Various Trading Styles

They are designed to follow the best trends that would boost profits and eliminate the chances of potential losses. Due to the points raised above, forex trading robots are popular with traders of all proficiency levels. In addition, forex robots do not sleep , meaning that they are in operation 24/7, ensuring that potentially lucrative opportunities are not missed.

best forex robot

It is just a promotion that is meant to attract more interested Forex people to automated trading. But there is a big difference in the case of the Forex robot that you can download here. We represent you real commercial EA you can download for free which has live trading statistics, technical support, and updates. Since ForexStore is a big well-known Forex robot marketplace we care about our reputation and give our customers only quality products. The trading on this account is verified by the independent and well-known third-party company Myfxbook.

Why doesn’t everybody use forex robots if they guarantee profits in trading?

These are the providers you need to watch out for, as they could be scammers. These fraudsters offer robots which work, but to offer such a farfetched guarantee of success is just impossible. Of course, us humans require sleep and rest in order to function properly and make sound decisions in our day to day life. A major benefit of using a forex robot is its ability to perform an endless amount of research without you needing to lift a finger. For those of you who have not considered a forex robot, it is a great way to forge a passive income. Chart – This is the equity growth the forex ea has achieved throughout the accounts life.

They’re useful to validate trading strategies and they save loads of time endlessly analysing charts. Fully-automated trading robots execute the trade without human intervention based on a pre-determined set of criteria. A Forex robot is a software program built using algorithms that helps it make important trading decisions. The main purpose of these systems is to eliminate the emotional bias in trading, where traders take impulsive decisions after making gains or suffering losses. The majority of EAs are programmed using the MQL language and they work on the Metatrader trading platforms. After detecting a proper trading signal, the EA will initiate a trade and make an exit after a fixed time period.

The drawdown rate represents the percentage of capital lost while trading, so you should always look for a system that has a low drawdown rate. It lets you use a cent account, so you can get started with as little as $40. Both the pricing plans are quite affordable and the vendor also provides a 30-day money-back guarantee.

The algorithm comes with multiple verified live records and user testimonials for traders to verify its performance. Beginners with little to no market experience can easily use the product as the author provides the best settings and customer support. As the name suggests, the Forex Scalping EA is a scalping EA that targets a few pips on each trade. There is a very impressive Myfxbook account on the Forex Scalping EA website that shows it has performed extremely well over the years. As with the other forex robots listed above, the Forex Scalping EA has a good range of back tests that shows how it performed in the long term on historical data. It trades multiple currency pairs before the Asian trading session opens.

How to check that Forex robot isn’t a scam

I would personally avoid any forex trading expert advisor that uses such a strategy. Maximum drawdown on the forex robots trading account statement, https://xcritical.com/ listed in the table as a percentage. Drawdown is a percentage of the account which has been lost when there was a run of losing trades.

To see if an EA will work, you can try backtesting trading platforms features and later employ them in live portfolios. The top forex trading robots are thoroughly tested, against spreads and real slippage, and real tick data. The first step towards knowing if the automated forex-trading robot has a chance of being successful is by subjecting it to backtests. We’ve listed only those robots that have undergone the best forex bot backtests available in the market today.

best forex robot

Forex Fury has a money management feature and three different risk levels. It works with all MT4 and MT5 brokers and employs a range trading scheme. The automated forex trading robot profit factor of 2.84 is higher than the live statistics where it is 2.01. This is a robust system capable of adjusting to different market conditions.

How To Install And Trade With Forex EA?

We un tests using a VPS on different platforms for at least 30 days for each forex EA. Some of the best forex brokers offer a free forex VPS for live account holders. The answer to this question is not a simple one, as forex trading robots do differ in price by quite a margin. In a nutshell, a forex robot is essentially a trading tool which uses algorithms alongside technical analysis. The robot scours the forex market in search of potentially profitable trades.

  • Where the table’s drawdown is the same between Expert Advisors, we then look at profit factor as a differentiator, a metric that is essential for confirming whether an EA is profitable.
  • Some FX trading robots can scan numerous charts in a way that is impossible for human traders.
  • This forex robot was created for every market condition, it aims to provide a stable profit by utilizing a flexible algorithm.
  • You can choose from the hundreds of rules available, or you can create your own without needing to know how to code.
  • Using the grid strategy, the robot trades the trend based on particular patterns.
  • As we mentioned this can be based on pre-set trading strategies or can be semi-automated for more experienced forex traders.

But, if you decide to go off this list – then always make sure you do some research first. As we have said, forex robots are a great way to trade forex without having to spend months or even years learning how to trade. The Binary Strategy forex robot on the other hand supplies results on a daily basis via a chart on their web page. This means the system has been fully tested for years on end before they began trading. There is also the option of a light version of the forex robot, for those who prefer to grow their portfolio steadily over a longer period of time. More than 2,500 people run FX Fury on their accounts daily, and like most reputable forex robot providers there are more updates added year on year.

For example, the FXStabilizer Pro EA has live trading statistics for more than 6 years already and has a good reliability history through all this time. However, not many automated trading systems are able to keep up with such results. Many robots show good performance at the beginning or even for some time, but eventually, they still end up on the loose. That is why it is important to choose only among the best Forex robots to get consistent results. The MyForexPath EA is one of the strong and consistent trading systems that work, showing incredible durability throughout the whole live trading period.


Although they offer a great degree of convenience, you cannot expect them to guarantee consistent gains. Everything varies profit expectation, trading strategy, currency pairs, etc. You have to get together all these parameters to make a correct decision about which robot fits you the best. That’s why the backtest’s results are always far from real robots performing on the real account. It allows you to check as many times as you need how the robot performs in reality before you get ready to deploy it on the real account.

The 10 Most Important Considerations When Choosing The Best Forex Robot

Although the example above is relatively simple, it highlights how a forex robot trader will typically work. Some robots will have much more advanced ‘if’ policies to determine opportunities, whilst others will have more basic ones – this all depends on which robot you opt for. Look no further – the forex signals services below are some of the top options available on the market today. In the following section, we’ll explore each of these forex signals providers in detail, helping you choose the best option for you. Price and refund policy – A robot’s performance cannot be truly assessed by the cost of the software.

Plus500 Review

We have no issues with large risk reward ratios, as long as the win rate is very high. A Forex robot is an automated software built with algorithms and market specific rules that determine trade opportunities. Robots have many settings that allow for clients to set their take profit, stop loss, lot size, trade time and even influence the strategy itself. The forex robot knows your risk profile and parameters set forth at the beginning of your dashboard, so it knows the types of trades you would like it to execute. The forex robot by Forex Gump works 24 hours a day, five days a week, though it will continue seeking out profitable trades even when it’s turned off. Forex Gump EA robots are a great match for people who have a good level of understanding and experience trading forex.

It is the crucial factor that defines whether the robot is able to make an actual profit in real-life trading situations. Forex robots that can only demonstrate profitability through a demo account, also known as a simulated account, are hugely problematic in the EA market. For example, if an EA makes a forex trader a gross profit of $1,000 across all its winning trades and a total loss of $500 across all its losing forex trades, the PF is 2.0. A PF above 1.0 means the forex robot is profitable, whereas an EA with a score under 1.0 should not be considered for purchase. Automated trading enables forex traders to set and leave a forex robot to trade continuously according to pre-programmed algorithms taking both emotion and fatigue out of forex trading.

GPS Forex Robot 3

They are not designed to imagine what might take place in the near future, as their functionality is strictly based on their initial programming. The three signal modes, conservative, medium, and aggressive, all come with varying levels of risks attached. It supports all the major currency pairs and has multiple trading styles for the users to choose from. Onyx has a 30-day money-back guarantee, which makes it reassuring to work with their software.

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