Unlike manual trading, traders can take the benefit from technological advancements by relying on automated trading. In order to be successful in algorithmic trading involves using the best forex trading robots that help you manage FX trades with minimal manual effort. While there are numerous trading robots available on the market today, choosing the right one requires evaluating the features, commissions, currencies supported, and other factors. Below are some of the most preferred forex trading robots that are suitable for both professional and novice traders.
This semi-automated platform is more about providing well-researched signals for FX trading rather than offering a “bot” as such. Known for being the overall best platform to offer trading signals, Leran2Trade also supports other trading categories like stocks, indices, cryptocurrencies, and commodities. The trading signals are provided by experts at the Learn2Trade platform, which allows you to have the opportunity to identify which orders to place on the platform. This ensures you have complete control over the trading account and funds.
The platform has both free and paid plans where the traders can easily get access to the trading signals through the app on the go and in real-time. The free plan provides 3 forex signals a week whereas the paid one offers you around 5 signals every day. The signals provided by the platform will also specify the entry and exit points, which also minimize the effort of researching and makes the whole trading experience seamless.
Compatible with multiple third-party platforms including MT4 and MT5, Forex Fury is renowned to be a reliable trading robot with an over 90% win rate. Although the forex EA primarily focuses on the currency market, it also supports other third-party platforms as mentioned as well as ECN accounts. Moreover, the EA also features different options for strategies depending on the various levels of risk appetite, enabling it to be suitable for traders with all levels of risk.
Forex Fury supports and works on almost all currency pairs along with cryptocurrencies and indices. Although the provider does not have a free plan, traders can invest in the basic plan that provides access to one account license along with lifetime membership and free updates.
3.Odin Forex Robot
For traders who prefer a grid trading strategy, Odin might be the best choice for them. The automation and ability to identify opportunities, as well as to conduct trades on your behalf, make this FX robot preferred among many active traders. The grid strategy involves evaluating micro price movements and providing a forecast on where the prices might go in future. The robot offers users to see how much profits it has made along with the trades it has been executed in a month. The authenticity of the bot can easily be verified through the numerous reviews on their website.
For traders that are looking for a competent yet free robot, EA Pros can be the best option since it operates on the major currencies including GBP/USD, and EUR/GBP, to name a few. The bot operates on the MT4 platform and is recognized for upgrading frequently –allowing users to get the best out of the robot. With an exceptional support team, the robot is currently free for four brokers which eliminate the scenario of returns.
5.Wallstreet Forex Robot
When it comes to automation and smooth integration Wallstreet Forex Robot is one of the best in the market at this moment. This bot supports a range of currency pairs that can be traded on your behalf where it targets to generate around 10 to 15 pips a trade. This implies that the trader can easily avoid the risk associated with the scalping strategy. Moreover, the robot also involves systems that are designed for the funds of the trader where slippage or high spreads are concerned.
Coming to the credibility of the bot, the Wallstreet FX bot can be fully verified by the results available on Myfxbook. Traders can also have the opportunity to look into the past performance of the bot here to verify its competency.
Forex robots can be a fantastic tool when it comes to FX trading since they can eliminate the psychological bias, conduct trades faster, and requires minimal manual intervention, among other factors. However, when choosing a bot make sure you check its past performance, features and limitations to ensure a successful trading experience.