Best Forex robots
There is no secret that for successful Forex trading it's not enough just to have free time, knowledge, and skills. In a current situation, traders that do not use features of the best Forex robots that are available on the market concede to those who do. After all, sometimes even experienced traders cannot analyze and compare a huge number of charts and moves on the market at the same time.
On the other hand, Forex EA is able to trade around the clock and without interruptions, thus it usually gets ahead of man when the trade should be executed or changed quickly. The main thing is to find the best Forex EA for you in order to trade automatically and what is more important – PROFITABLY.
Do you still doubt whether it is worth using automated Forex trading software? Then follow the article and check out all top Forex robots that are available on the ForexStore.
Best Forex Robots
|1||FXStabilizer PRO||10/10||2340.28%||4.85%||13.26%||2030||Robot pageInfo||See review|
|2||ForexTruck||10/10||587.13%||9.33%||18.67%||649||Robot pageInfo||See review|
|3||FXCipher||10/10||608.74%||16.14%||36.17%||396||Robot pageInfo||See review|
|4||FXQuasar||10/10||464.62%||11.63%||32.77%||477||Robot pageInfo||See review|
|5||FXHelix||9.8/10||523.5%||12.76%||45.57%||462||Robot pageInfo||See review|
|6||FXZipper||9.6/10||137.85%||3.76%||13.33%||707||Robot pageInfo||See review|
|7||Forex inControl Full||9.5/10||1170.1%||5.82%||38.84%||1352||Robot pageInfo||See review|
|8||FXTrackPro||9.5/10||642.1%||13.27%||32.92%||452||Robot pageInfo||See review|
|9||XFXea||9.5/10||2523.53%||9.06%||53.37%||1134||Robot pageInfo||See review|
|10||FXGoodWay X2 EURUSD||9.3/10||340.09%||9.7%||56.56%||488||Robot pageInfo||See review|
The criteria for assessing top Forex robots
ForexStore works a lot to make it as easy as possible for traders to find the best Forex EA in the world and to compare their features. Therefore, we made an automated system that puts all trading robots in order by its rating. The list of the robots that is represented here is made with the help of this system.
So, let’s see what the exact parameters and features our automated rating system takes into account to reveal the best Forex expert advisors.
Real Forex trading
The most important thing to check when choosing the best automated Forex trading software is that if the developer provided the real live trading statistics of the expert advisor or not. It is the crucial factor that defines whether the robot is able to make an actual profit in real-life trading situations.
The main problem with most of the scamming EAs is that developers of those represent their products having no experience of live trading which means that those robots were not properly tested.
EAs that have trading statistics on a real account is marked with this sign –
Speaking about the testing of the best Forex EA, the next important thing needed to check is the availability of backtests of the trading robot. It is the tests that are made with the special software that basically simulates real trading using historical quotes of the market from the past.
This way of testing is the first thing needed to be done before going any farther in the process of confirming the reliability of the Forex robot. This is the stage when the developer tries any theoretical models and algorithms put into the Forex robot and decides if the EA is worth trying on the real trading account.
EAs that have backtests is marked with this sign –
To make the purchasing process safe we always check the availability of money-back guarantees to protect our clients from the risks of possible fraud. All best Forex robots on ForexStore have a money-back guarantee so that we are sure that the client is protected if the EA does not work correctly or if you get bad trading results.
EAs that have money-back guarantee is marked with this sign –
ForexStore system of protection (license)
This is a guarantee that protects our customers and allows them to immediately get access to the purchased item in the Personal area section. This also includes guaranteed quality support service and a full refund under the condition of agreement with the vendor's refund policy.
Every Forex expert advisor that is considered to be the best one includes this feature. Not every EA is able to have such a marking. Only systems that a have a certain level of quality are marked this way.
EAs that are protected by the ForexStore is marked with this sign -
Trading period of Forex robot
The real-life trading results of the expert advisor, as it was mentioned, are the crucial thing you need to analyze when choosing the trading robot, and the most important about it is the duration of the trading on the real-life account.
Any EA that is claimed to be the world best Forex robot must have preferably 1 year of trading on the real account but definitely not less than 3-4 months. The lower the duration the higher the chances that the EA could end up destroying your account. This parameter also is taken into account in the calculation of the robot’s rating and affects it depending on the duration of the statistics’ existence.
Realism/truthfulness of trading results
Sometimes the represented trading results of the Forex robot are possible only on a demo account or if manipulating the results. It could not be clearly seen but any professional trader can see it analyzing trading charts. Mostly, Forex robots that have such unrealistic-looking charts end up being just another scamming scheme.
When making up a rating for each Forex robot on our website the algorithm analyzes trading results of the EA provided by the developer and recognizes the fraud-looking once as well as the normal once. That's why there are no unrealistically looking trading results among all the best Forex EA that are represented here.
Trading success and stability analysis
More check-ups are being done before giving any Forex EA on ForexStore any rating stats. Another one is a 3-months trading success analysis that shows the profitability and stability of the trading software during the trading period of the last 3 months.
The next step is a check-up of the overall stability of the trading results for all time which gives an understanding of a possible long-term stable trading. Any robot that claims to be the best expert advisor for Forex should be constant in its trading success and stability. This test is a complex calculation algorithm but the basic formula of it is the fewer unprofitable months the system has and the higher monthly profitability, the better.
Last but not least is the drawdown analysis of the trading Forex robot that involves a complex calculation that examines the monthly profitability of the EA comparing to the maximum drawdown on the trading account. This calculation is the best factor that makes it possible to see the real potential risks when trading with the use of the Forex EA.
What are the types of Forex EA?
There is a huge amount of different trading styles and strategies that you may use trading Forex. The same is true for the types of Forex robots. As the trading with the software is just an automation of the same things that the real trader would do, all expert advisors could be conditionally divided into several groups that represent more or less similar trading styles. So, let's look closely to identify those groups and their differences.
This is one of the top frequently used strategies in expert advisors for Forex. The main idea of grid trading is to use the inner wavy nature of the market by setting up a series of trades (called grids) in one or another direction. Lot size and spacing between orders may differ depending on the specific logic of the trading algorithms set up in the EA. For example, if the robot uses the Martingale principle together with the griding the logic of lot size and spacing will depend on the nature of the first trade (winning or losing) and the volatility of the market.
Griders often gradually open a series of orders and then at the right time closes the entire grid at once. But, once more, that's not the rule. Since there is a long list of different trading strategies on the market all of them could be combined in different ways, so there is no "right" or "wrong" way to do it. It depends just on the strategy.
The Martingale model of trading is rather a principle than the strategy because it could be implemented almost in every other trading strategy. The main idea of this principle is pretty simple. It is a negative progression system that involves increasing your position size following a loss. The bigger loss of the previous order the larger the lot size of the next order. The idea is to cover a previous loss with a bigger profit.
If all the previous types of Forex trading mostly are focused on mathematical (or technical) analysis then this one has a totally different approach to Forex trading. Fundamental analysis involves assessing the economic well-being of a country and by extension, the currency. It does not take into account currency price movements. Rather, the fundamental Forex trading robot will use data points to determine the strength of a particular currency.
There are a lot more different styles of trading that also could be represented in some of the trading software you may find on ForexStore. We named just the most famous of them to help you with the understanding of the wide variability of possible trading types on the Forex market.
Intraday trading (also called just day-trading) is exactly what it means – opening and closing trades within one day which means that all the open trades should be closed during the day. Intraday trading is also not a specific trading strategy. It is mostly just an approach to trading which could be implemented in almost every other strategy as true for Martingale.
The positive side of this approach is that the trader could faster see the profit or loss on the account and do not wait weeks or even months for trade to be closed. But there is also a negative side to this. It is much harder to predict market moves in a short period of a few hours or even minutes, so day-trading EAs need to be programmed in a more complicated way.
Scalping is one of the most known trading styles the main idea of which is to take the profit off of small price changes. A scalping EA logic is to take as many small profits as possible. This is the opposite of the "let your profits run" mindset, which attempts to optimize positive trading results by increasing the size of winning trades. Scalpers make a profit by maximizing the number of winners and not caring much about the size of the wins.
This logic is not the one that every trader would approve but there is a lot of automated Forex trading software that uses it. The problem with the scalpers is that not every broker would allow it because usually scalpers open and close trades very quickly, closing them with just a few pips in profit.
Things to consider when choosing Forex Robot
Choosing a Forex robot is an important decision to make since most of the software cost a decent amount of money. It is important to choose the best Forex EA for your future trading and there are a few things to consider before purchasing any of them.
PROPER TESTINGAs we say all the time, the best Forex robot could be considered to be so only if it was properly tested on the historical quotes and (what is more important) in the real trading account. This and only this confirms any other statements of developers and advertisers. Clear and thoughtful testing over a long time is the crucial factor that differs a good Forex robot from the fraud one;
REAL STATISTICSReal trading of the Forex robot should be recorded on the respected and objective third party companies such as Myfxbook or FXBlue which provide and verifies real statistics data from the developers' trading accounts. This is also one of the key factors when choosing the best Forex EA;
RATINGAs it was explained before, every Forex robot on ForexStore is rated by the automated rating system, designed in such a way that it covers all the crucial factors and check-ups to give an objective and calculated in the smallest details mark which signalizes about the nature of the EA;
TRADING DURATIONThe best Forex expert advisor should be tested not only by some algorithms and machines but also by time. A system that has less than at least 3 months of real performance statistics could not be called the reliable one. The longer the trading duration of the EA the higher chances that the system is actually able to work stably and profitably for a long period.
There are thousands of Forex robots available on the market now. Different styles and strategies, different results, and expectations but all this is for one reason – to get in profit. You do not need prior knowledge of Forex trading to use trading software – in most of the cases, it could be operated with just a start/stop button. But what you really need to know to get in profit using Forex robots is how to choose the best of them. That is what this article is all about. If you devote enough time to deliberate and thoughtful choice then you'll end up winning.
ForexStore was created to help you with this important and sometimes complicated choice. Check out the best Forex EA that we collected on our platform and be patient in analyzing all the pros and cons of it. It is your choice, choose the best and be the best!