It has become a tradition for us to make an annual review of the best Forex automated trading systems and robots.
We suggest you familiarize yourself with our latest rating compiled on the basis of our reviews in which we analyzed in detail each of the robots.
Our task is to tell you which robots are popular among traders and are able to provide you with a stable income. Having analyzed dozens of them, we have prepared a summary table for you.
|1||$10000000||Jul 30, 2018||+1132.84%||0.26%||8.05%||0.35%||$113284351||1:100||6.41||Real|
On Control EA
|$63338.02||Oct 18, 2016||+267.09%%||0.11%||3.42%||47.28%||$5763.81||1:500||1.62||Real|
|$5000||Feb 22, 2016||+467.91%||0.12%||16.66%||91.93%||$23395.53||1:500||4.39||Real|
|$2000||Jun 25, 2020||+246.92%||0.43%||13.92%||31.18%||$4934||1:500||2.3||Real|
Forex Gump EA
|$19663.93||July 24, 2018||+1309.6%%||0.7%||15.88%||–||$17228.07||1:100||2.21||Real|
The Skilled Trader
|$5000||October 16, 2019||+128.34%||0.22%%||8.77%||15.61%||$6422||1:200||1.48||Real|
|A$2745.10||Sep 17, 2018||+103.17%||0.32%||10.66%||8.34%||A$2832.25||1:500||2.83||Real|
|$1000||Nov 15, 2017||+365.69%||0.2%||6.5%||37.23%||$3656.88||–||1.77||Real|
|$18231.03||Jul 03, 2018||+214.76%||0.21%||6.5%||55.99%||$35011.46||1:500||1.99||Real|
|$10000||Aug 06, 2016||+628.96%||0.16%||4.96%||39.51%||$62895.89||–||2.22||Real|
How to pick the robot on your own? What should you look at?
Based on the previous chapter you may want to know how to pick a robot on your own, Alright, we’re here to help.
Check the robot drawdowns to see what risk the robot is ready to trade
Usually, good robots have it above 1.2 and up to 2.5. As higher it is as better it’ll be for you.
Some of the robots introduced as the robots for running with many currency pairs, but when you check statistic you can notice several of them is the best to trade.
A robot is good if it has over 7-8% of the monthly gain.
The good robot can’t be cheap. So, we’d like you to start looking at robots with a price of $350 not less. The price means that the robot owner doesn’t afraid of setting the high price because he or she knows the robot is “good-to-be-sold” for this money.
Usually, you’re allowed to run the robot on the demo account as much as you want. Good sellers provide the money-back guarantee if you don’t like its performance.
Reading it, you shouldn’t feel that you’re pushed to buy the robot ASAP. Well-known robot devs don’t need to force you to make a decision, because they just slowly but surely explain how the robot work and what features it has got.
Read the comments, about the robot across the web and on the platforms where robots sell, no get a full picture of the product you want to buy.
How trading robots (EAs) can help me?
Do everyday duties under your control
All the traders make almost the same activities during a day. They’re trading and analyzing. If you know how to shape the robot you can easily entrust it analyzing indicators to find the best point to get in & out of deals.
Money management system
Usually, the robot provides it customized by default. You have to manage the amount of risk, stop loss and take profit parameters to make your trading experience better.
It’s not so hard to get started with any of the modern trading robots.
If you’re an experienced trader who just needs an assistant that’ll be trading for him or her during 24/5, buying a trading robot will be a good option. The robot can perform the mechanical work letting you be focused on shaping the strategy. Some of the robots suggest you other strategy and you, looking at its performance can easily dig down and get some knowledge about how it works almost for free.
Backtest results or real data
The market is live. You can’t be 100% sure that some of the patterns worked well on backtest will give the same results online. So, if you see only backtest results on the devs’ site it means they try to confuse in order to want you to make an incorrect decision. Just avoid those sellers.
Any robot can become a scam
The Forex market is not only a place when you can grow quickly but also the field of various scams. A lot of them try to sell you a “robot” that solves all your problems. The scam statements almost every time looks like:
- Download-free robot. It has no sense to share a well-designed trading strategy for free.
- They guarantee a stable profit.
- They try to prove trading results via backtests or demo accounts.
- There are no real comments from people who use the robot on the web.
- A seller doesn’t want to trade the robot from well-known sellers platforms.
- You need to do nothing.
- A seller tells you about the robot can work with every brokerage company.
- The price is low than $500. The well-shaped robots cost much. Usually, a price starts from $500 to $25000.
If we sum up all experience we can build a table with the pros and cons of fully-automated trading via robot on Forex.
|Stable profit provided by good robots||A robot, as well as, a seller may be a scam|
|You’re free to do your own duties||Good robots cost much, from $500 to $25000|
|Mid robot price and low deposit requirements to get started||Some of them require high deposits for low-risk trading|
|Knowledge-free start your trading on Forex||Understanding when your robot is going to become a scam requires some knowledge to predict|
|Flexibility in trading various currency and Bitcoin|
|60(30) days no-questions-asked money-back guarantee|
|Allowing to get started running a demo-account as long as you need to make a decision|
|The money management system that includes stop-loss and takes profit features|