Fully automated foreign exchange trading software, also called as “Forex robots” has received a lot of attention recently. It is imperative to choose the best Forex robots for trading. Before discussing the list of Forex robots available for automated trading, let us begin by understanding Forex robots and the benefits they offer.
Forex robots, also famous as expert advisors, are automated trading systems that execute the Forex trades using algorithm signals. They do not need human input to open and close the Forex trading. They follow a specific code for a fixed period.
According to trade analysts, transactions conducted through HFT Forex robots and AI account for about 80% of all currency trades. Forex trading robots play a crucial role in private trading activities. It’s unique design enables easy execution of trade, reducing the human costs associated with making trading decisions.
To become an expert trader, one must not only update the changes in the currency market, but also be informed about the global economy and current events. The historical data and information will provide an idea to determine the ideal time to enter and exit the trading market.
You can create a Forext robot through MQL4 and MQL5 trading platforms or buy a Forex expert advisor.
The advantages of utilizing Forex robots for trading include:
- Saving time as Forex robots conduct Forex market analysis to search for trading signals, thus saving the time of professional traders.
- Ensures speedy decision-making.
- Eliminates emotional stress on traders.
- Ensures automated trading by evaluating the statistical probability of an event.
Let us discuss the Top 10 Forex robots that have shown positive results in the forex trading market.
1. GPS Forex Robot
GPS Forex Robot is an MT4 trading robot specialized in major currency pairs. The famous robot is created by Mark Larsen. The GPS Forex Robot trades a variety of currency pairs, including EUR/USD, EUR/GBP, and more. The robot is available at a comparatively low price. It uses the latest innovative technology and algorithms. It offers a 60-day money-back guarantee on purchases.
2. XG Gold Robot
The XG Gold Robot is the best trading robot for buying and selling currencies, with a 76.12% win rate. It is an automated robot that conducts gold trading against the US dollar and euro. SMA Strength, Price Action, and RSI are some of the popular trading strategies adopted by the robot. It is compatible with MT4 and MT5, and you can also adjust its settings. The robot is available for a free trial through the MQL5 marketplace.
3. FX FORNITE EA
FX Fornite EA offers a blend of updated trend-following and hedging strategies. Its incredible performance is backed by the famous FX Blue verification services. It assigns three varied levels of risk for system configuration (high, medium, and low). The robot is designed especially for EUR/CHF and has a time frame of one hour. The FX Fornite EA offers three pricing tiers and a 30-day money-back guarantee policy.
4. 1000pip Climber System
The 1000pip Climber System robot analyzes the forex market without any human assistance by utilizing the state-of-art algorithm. For each trade, the robot offers easy-to-follow trading signals such as entry, stop-loss, and take-profit levels. Its historical test performance is impressive and verified by MyFXBook. The 1000pip Climber system is a perfect fit for new traders without any experience. It has a user-friendly interface, and 24*7 support for users and free lifetime upgrades.
5. CryptoHopper
Cryptohopper is an automated crypto trading robot. The trading tool is available round-the-clock and navigates the complexities of more than 100 cryptos. It can track potential opportunities even in bull, bear, and neutral markets, with the help of advanced technological signals. The Forex robot is available for free. It monitors the price movement and automatically executes buying and selling when the price shifts in different directions.
6. Learn2Trade
Learn2Trade is a highly efficient trading robot that effortlessly executes trades on different cryptocurrencies around the clock. Also known as L2T Algo, Learn2Trade has a 79% win rate. The fully automated Forex robot makes it convenient to buy and sell currency. The robot is made up of 1,500 coding lines and a vast array of more than 100 technical indicators. It constantly scans the market for triggers and signals. The L2T Algo integrates well with Binance and ByBit exchanges.
7. Forex Fury
Forex Fury is the ideal choice for making sound investment decisions. You can maximize your forex investments with Forex Fury’s expert guidance. It offers unlimited demos and free updates for a lifetime. Forex Fury provides a unique feature of live verified Myfxbook trading accounts. The robot is compatible with NFA, FIFO, and more. It also uses filters to clear unfavorable market conditions. The robot is controlled by a dedicated team of professionals, offering 24*7services .
8. Odin Forex Robot
Odin Forex Robot offers a trustworthy grid trading approach. It buys and sells currency pairs at predetermined prices, both above and below a set price range. The robot operates within a 5-minute timeframe to identify lucrative trading opportunities. It has a built-in money management feature that automatically calculates the risk per trade per your instructions. It identifies profitable trading opportunities across more than 22 currency pairs.
9. Forex Gump
Forex Gump is a versatile Forex robot that navigates almost 25 currency pairs, including GBP/USD, EUR/AUD, and others. It seamlessly integrates with both MT4 and MT5 platforms. It allows you to select your preferred risk setting (conservative, low, middle, and high). It incorporates various unique strategies for trading. Forex Gump displays trading results for two accounts, an astonishing 167.5% in 94 days and 89.2% over 378 days.
10. Waka Waka EA
The Waka Waka EA Forex robot boasts an algo-trading technology to provide long-term trading returns. With its impressive 61-month record of profits, the Waka Waka EA has created a world record by achieving consecutive profitable months. It empowers users to trade by considering their personal risk tolerance. Users can view the potential profits using a profit calculator based on customized risk settings, such as Low, Moderate, Significant, and High-risk options.
