Best Forex Robot
Have you ever used artificial intelligence in your forex trading journey?
If not, then what are you waiting for? AI-based forex robots can help you at every stage of the trading. These can save a lot of time and effort and increase the overall trade efficiency.
However, beginners may find it difficult to select the ideal bot. Thus, this blog will discuss the best forex robots in the market. So stay tuned.
Here's a quick look at what you'll read
An automated trading bot is a software developed to buy or sell a financial asset when the price reaches specific or predetermined criteria.
- Forex Grump
- Forex Gold Investor
- Forex Diamond
- Forex Steam
- Forex Fury
- Wall Street Forex Robot
- EA Builder Forex Robot
- Forex Trendy
- GPS Forex Robot
- MetaTrader 4 & MetaTrader 5 Forex Bots
Forex Grump is the best forex robot for starting automated trading. The robot is suitable for trading at least 25 currency pairs.
Forex Gold investor is the best forex ea specifically built for trading the XAU/USD pair. It takes technical analysis and fundamental analysis to execute a trade.
Forex diamond is a popular scalper robot that can trade different currency pairs. The bot can effectively take advantage of short-time price fluctuation by quickly exiting and entering from trade.
EA builder forex robot is a popular platform to develop your own system. It works on both Meta Trader 4 and MetaTrader 5 platform. You don’t need any technical or coding knowledge to build an EA.
Meta Trader 4 and MetaTrader 5 trading platforms provide a range of paid and free forex trading robots for currency trading.
What are automated trading bots?
An automated trading bot is a software developed to buy or sell a financial asset when the price reaches specific or predetermined criteria.
Such bots are used in different financial markets, including forex, cryptocurrencies, stocks, indices, and others.
A forex bot is an automated program specifically designed to trade currency pairs. These bots can identify, enter, or exit trade positions automatically with little or no interference from the trader.
10 Best Forex Expert Advisor
Many paid and free forex trading robots are available in the market. Therefore, determining an ideal, reputable, and overall good bot can be challenging for a newbie. Thus, here is the list of best EA for forex trading to help you out:
Forex Grump
Forex Grump got first place and is undoubtedly the best forex robot to start automated trading. The robot is suitable for trading at least 25 currency pairs, which is quite big compared to the others. Also, traders can trade using different trading strategies and time frames.
The best part about this forex robot is it allows traders to trade with high leverage. It has many premium features like protection against huge losses, a money-back guarantee, and demo account testing, and traders can start using it with no minimum amount. Also, the robot considers news and trends when making trade decisions.
Forex Gold Investor
XAU/USD is amongst the most difficult and volatile yet profitable forex pairs. Gold traders cannot use a standard forex bot due to distinct market conditions. Forex Gold investor is the best forex ea that is specifically built for trading the XAU/USD pair.
With technical analysis, fundamental analysis is also very important for trading in gold. Therefore, this expert advisor uses the combination of these two analyses to make a trade decision. Forex gold investors have two systems: one is for scalpers, and the other one is time-based.
In addition, this robot has many exceptional features, including full automation, money management strategies, high spread protection, and profit and drawdown protection. So, gold traders can surely give forex gold investors a try.
Forex Diamond Robot
Forex diamond is a popular scalper robot that can trade different currency pairs. However, it is more suitable for trading GBP/USD and USD/JPY. The bot can effectively take advantage of short-time price fluctuation by quickly exiting and entering from trade.
It also has many risk and money management features, including lot size control, widespread protection, non-martingale recovery, slippage protection, etc. The best part about this robot is its good track record and consistently profitable gains. It has given a return of 20% on a monthly basis to most of the traders.
Forex Steam
Forex Steam is a 100% automated trading tool suitable for all levels of traders. USD/JPY, USD/CAD, GBP/USD, GBP/JPY, EUR/USD, and AUD/USD are the most profitable pairs to trade using this robot.
Forex Steam is the best Forex EA for customization. It provides holiday, spread, risk, stop loss, pips, and many other advanced filter options. Also, the robot is quite old, with many positive reviews and feedback from traders.
Forex Fury
Forex Fury is another best EA for forex trading with exclusive features and a great track record. The robot offers a win rate of around 90 to 100%, which is quite good compared to other options. While most platforms offer forex robot testing on demo accounts, traders can backtest forex fury at love market conditions.
A trader can customize Forex Fury according to their needs by adjusting stop loss, take profit, time frame, range, news, and many other filters. There are more than 15,000 users of Forex Furry, and many of them have shared their experiences with the bot. So traders can seek their help to use it efficiently.
Wall Street Forex Robot
Wall Street is the best forex robot for trading USDCAD, USDCHF, EURUSD, AUDUSD, EURJPY, and USDJPY currency pairs. The robot algorithm uses economic data, price trends, and technical analysis indicators to make trade decisions.
The robot has a good monthly average profit percentage of around 22%, while the drawdown average is around 8%. With all the general features, this Forex robot also has a broker spy module. This means that the forex broker’s performance is kept in mind when identifying any fraudulent or malicious activities.
In addition, Forex Robot has many versions for wallstreet gold, wallstreet asian, wallstreet Recovery Pro, wallstreet Asia, wall street crypto, and others. So traders can choose the most suitable version according to their market and strategy.
Forex Trendy
Forex trendy is another popular option for automatically trading currency pairs. It is a user-friendly software that allows traders to access live charts and trade many forex pairs in different time frames.
The subscription model is competitive, and you can access the software at just 37$ quarterly. In addition, traders can trade in more than 34 currency pairs using it. The best part is you can use ebooks and guides to understand different chart patterns and trends that the software considers for making trade signals.
GPS Forex Robot
GPS FX Bot is a user-friendly trading robot developed by a team of experts. It supports more than 12 trading strategies and styles. The robot enters and exits a trade after analyzing big market data, trends, and indicators interpretations on behalf of traders.
GPS Forex robot provides exceptional backtesting, risk, and money management features. However, the bot is quite new. Also, it has mixed reviews on different platforms. So before purchasing, test it first in demo accounts.
EA Builder Forex Robot
If you want to develop your expert advisor, you can go to EA Builder Forex robot. It works on both Meta Trader 4 and MetaTrader 5 platform. The best part is traders do not need technical or coding knowledge to build EA.
The EA builder provides traders with free and paid options to build EA. Also, guides and video tutorials are available to help traders. Traders can create expert advisors based on their strategy, indicator, time frame, trading instrument, and many other rules. Also, EA builder provides the option to backtest the EA so traders can evaluate, analyze, and customize their system accordingly.
MetaTrader 4 & MetaTrader 5 Forex Bots:
If you are a forex trader, you must have heard of Meta Trader platforms. Meta Trader 4 and MetaTrader 5 are the most popular platforms for trading in currencies globally. Almost every trader must have an account on any of these platforms.
With trading facilities, these platforms also provide users with a range of forex bots. These bots are based on technical analysis indicators; the platforms also provide robot customization and backtesting options.
Being a reputable platform, the Forex bot available on it is trustworthy. So if you don’t want to go to any of the above options, you can choose the best mt4 robot forex based on your needs from these platforms.
Bottom Line
Forex trading bots have many advantages, such as 100% automation, customization, high win rate, accuracy, and 24-hour market watch. Whether you are a full-time trader or a side hustler, you can integrate these robots to transform your journey.
Also, traders generally go for free forex robots as the cost is quite high with paid bots. However, remember one thing: you are putting your hard-earned money through this bot. So, going for free robots may not be a good idea.
In addition, the best forex robot choice depends on time frame, trading strategy, currency pair, cost, risk, leverage, and many other factors. Thus, practice the robot and find out whether it matches your needs.
