Best FX Robots
|1||Review||$5000||Oct 16, 2019||+161.64%||+7.01%||+0.17%||2.84%||$8103||1669||1.38||Real|
|2||Review||$1000||Feb 12, 2018||+613.64%||+8.11%||+0.25%||38.84%||$6136||100||3.53||Real|
|3||Review||$1619||Jun 29, 2018||+194.26%||+7.16%||+0.17%||17.55%||$3141||869||2.48||Real|
|4||Review||$1000||Oct 08, 2019||+401.87%||+31.96%||+0.93%||67.54%||$4018||69||6.30||Real|
|5||Review||$10000||Feb 12, 2015||+1266.72%||+4.29%||+0.14%||40.97%||$126671||2012||1.32||Real|
|6||Review||$1000||Aug 23, 2018||+661.24%||+10.97%||+0.35%||29.35%||$6612||868||2.05||Demo|
|7||Review||$5000||Feb 25, 2016||+268.36%||+2.65%||+0.09%||56.10%||$13418||16040||1.26||Real|
|8||Review||$6170||Jun 30, 2016||+119.57%||+1.74%||+0.06%||75.68%||$5959||2029||1.54||Real|
|9||Review||$1789||Jun 05, 2013||+395.71%||+1.95%||+0.06%||27.30%||$1420||7355||1.17||Real|
|10||Review||$30000||Oct 03, 2017||+30.62%||+0.90%||+0.03%||30.14%||$8372||156||-||Real|
|11||Review||€15476||Jul 02, 2017||+235.44%||+3.71%||+0.12%||29.27%||€9693||2071||1.21||Real|
What is the best Forex Robot in 2021?
We know what robots are the best to work with.
Investing is such an attractive opportunity to get financial freedom and stop being a “nine-to-fiver.” Becoming an investor allows you to raise your income every day without waiting for annual stuff, hearing, and other burdens where all your wishes can be simply declined. When people take a look at the investing field, they’re confused because most of the cases require a significant knowledge base, 5-10 years of experience, and a huge amount of money to get at least started. Compared to other investing and trading activities, trading on Forex looks so rewarded but required much knowledge. To help new traders, Forex veterans design various products to allow everyone to start smooth and sound:
- Some provide Copy Trading software designed to execute trades from the main account on the following one.
- Others provide Signal Services that inform you (sometimes with explanations of what triggered the signal) about the most critical parameters of the upcoming trade like a symbol, direction, Entry Point, Lot Size, Stop Loss, and one or more Take Profit levels.
- The market is full of different Expert Advisors as well. That can execute trades for you if needed.
- The most save the way to start is creating a PAMM or MAM account and allowing experienced traders to trade for you. There are not so many risks. The average commission from won trades is from 30% to 50%.
The service market for traders is full of innovations and rocket solutions. We have many programs to go, which are designed on MQL and C++ and allow traders to control every single process on the Forex market. Various Indicators were created based on the base of 800+ indicators. Indicators tell you by notifications when it’s the best time to start a trade and other parameters. The most complicated software is solutions for Arbitrage trading that allows us to place “manual” orders ten times quicker than the best brokers like ICMarkets allows through its MT4 terminal. Anyway, the most common products, and of course, the most welcome for beginners, are expert advisors or robots. The most crucial moment of using them is that you don’t need to trade manually and know something. Everything you have to have to get started is money and trust in the robot’s designer. No doubt, the best way to become confident is when the EA’s designer trades on a 3rd-party verified account using the EA. You may analyze the trading activity to make a wise decision based on real performance.
We’re prepared for you a Forex robot chart based on reviews we’ve written during 2019, 2020 and the beginning of 2021.
Column headers explanation
The spreadsheet includes many columns. We prepared explanations to make you comfortable reading the information.
- We use Rank to place the best robots in the proper order.
- Trading System includes the names of the robots and links on reviews. We’ve analyzed many parameters of EAs’ performance like strategy explanations, team revealing, stability, predictability, money-management system, profitability, 3rd-party verified trading results from real and demo accounts listed on Myfxbook, FXBlue, pricing, people feedback, activities in social networks, etc. We did our best to prepare the most extended review of every robot we’ve picked.
- The deposit column shows us the number of funds the developers have entrusted to their robots. It’s exactly the case when numbers matter.
- The profit column provides us with the most critical intel of how much the robot is profitable.
- Gain shows the account's growth rate in % since the deploying.
- The monthly and daily columns show the amount numbers of the average monthly and daily gains. These are the numbers you can rely on planing your future incomes.
- DD displays the maximum drawdown level that the robot reached during trading on the real account. That’s important because many people trade with leverage. So, low DD is the only one way to trade safely and profitable.
- Started is the column that shows when the real account has been deployed.
- The trades column shows us the numbers of trades that the robot has performed. It’s important not only to be profitable for a robot but also to trade frequently.
- The wins column provides us with real win-rate.
- The screenshot of the chart shows the EA’s trading performance.
- Information about the type of account (Real or Demo) the robot runs is mentioned in the last column.
To become an experienced trader, everyone has to know more about robots than how to deploy them on MT4/5. First of all, you have to understand what the strategy is behind the trading system to react instantly if something goes wrong with the EA, and it starts wasting the account balance. Info about the favorite hours to trade allows you to be in touch with a robot’s performance to learn something new. The most common periods to trade are during the Asian market opening and when trading on European and American markets is underway. The crucial part of making a stable profit is to understand risks and money management features. For example, you have to manage Lot Size wisely to avoid margin calls and huge drawdowns, especially trading with high leverage. Understanding how many pips you should set for Stop Loss and Take Profit levels for your strategy makes you an advanced Forex trader.
- Scalping strategy. It’s a prevalent strategy to design a robot around it. It’s a strategy based on getting a small amount of profit (10 pips usually) from an endless amount of trades. The system decides when and where enter/exit, predicting the market moves. Typically, the most popular currency pairs are the goal to trade EUR/USD, USD/GBP. EUR/GBP. The robot trades on the 5M - 30M time frames.
- Carry trade strategy. It’s one of the most well-spread strategies. You buy a currency when its rate is low and going to sell it when it goes high — just that simple. Every currency has got its interest rate that has been set by the central bank. Trading the carry trade strategy goes on the large time frames and starts from the weekly chart. The most annoying disadvantage is that trading opportunities aren’t so frequent.
- Price Action trading is another good one. The strategy is based on what the price was in periods before to find a trading strategy that can fit the present. There are several ways to create a well-designed system: common one doesn’t include indicators, another one allows to include some indicators to shape strategy, and the rarest one includes some fundamental activities. The most popular methods to decide when to get in/out are trend determination, Fibonacci, candle wicks, indicators, and oscillators.
- The trend strategy provides a profit based on following a market trend. Trend trading usually goes on the mid-range time frames. The system decides to get in the deal based on a Relative Strength Index (RSI), Rate of Change (ROC), Commodity Channel Index (CCI), Momentum, Stochastic, and others.
- The range trading strategy is based on identifying support and resistance points. Usually, technical analysis is used to create a well-designed robot. There is a list of the most used indicators in design CCI, Commodity, RSI, and Stochastics.
- Day Trading strategy is the one that opens and closes deals on the same day. It’s a very comfortable strategy to work with because you don’t have trades open to the next day. The strategy is based on, as usual, technical analysis, and rarely on fundamental one.
- The reversal trading strategy is based on the principle when a robot tries to predict correctly when the market reverses to get a position opened right before the reverse. It’s a somewhat risky strategy but with a reasonable payback if it’s predicted correctly.
The most crucial robot features to rate in our reviews
- Deposit/Lots sizes. It’s crucial to get a proper amount of margin to support your trades. Almost every robot seller provides intel about what Lot Size should be for each of the deposit milestones.
- Leverage/max drawdown. As bigger leverage, you set, as lower drawdowns should be. A comfortable level of the max drawdowns during, at least one year period, should be less than 10%, but not higher than 20%. That’s why real account results are so important because you can check what level of leverage and max drawdowns the robot works with.
- Trading strategy. Some of them don’t use a Stop Loss system. It’s risky to trade without them.
- Trading strategy p.2. You have to ask the seller through support whether your strategy allows you to perform on a specific broker where you have an account.
- MetaTrader 4 and 5. Most of the robots have been designed for MT4, but the little can be run on MT5. The differences between them are that orders are placed quicker on MT5, and MT5 provides more financial instruments to work with.
- Broker Spy Module is a good feature little designers enhance the robot that allows you to know when the broker cheats with you. Understanding that the broker is fraud can save you much money.
- Money-management settings. You can easily change the default settings to increase or decrease the potential risk/reward ratio. Well-designed robots allow setting a Stop Loss level in pips, so the robot gets out of the trade automatically after the SL level was reached. Keeping the SL level hidden from the broker is a good way of saving your account. A Take Profit feature is designed to get your more profit in pips for every trade if it goes in the right direction.
- Recover mode is a risky kit of trade options that allows recovering the account after losing several trades in a row trading with Lot Size increased.
- Support availability. Almost every robot needs to be shaped every half a year to meet brand-new market conditions. So, if the devs don’t update a robot for a while, it can mean that the time to stop using the EA comes or at least pays closer attention to its performance.
- Providing advice about the most suitable brokerage companies. The devs usually test robots on various brokerage companies. We can receive suggestions on what brokers work well with the robot and if needed, a referral link to decrease the price or get some extras. Following the advice is up to you, but it would be wise to check whether your broker is on this list.