To use Forex EA, you need to do three basic steps. The first one is to choose the robot from the available ones on the market or to create it for yourself. Since the creation of the automated trading system might be a pretty complex and time-consuming thing, we suggest you look through the robots available on ForexStore. The second step is to become acquainted with the system. This is important so that you know what behaviour to expect from it. And the last step is to fund your brokers' account and start the real trading process according to the users' manual of the EA.
BEST FOREX ROBOTS IN 2024
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.
Top 15 Best Forex Robots
| No | Name | Chart | RatingRating | GainGain | MonthlyMth. | DrawdownDD | Days | InformationInfo | Review | |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 |
|
FX Proctor Special | 10/10 | 383.05383% | 11.3411% | 20.3320% | 446 | Robot pageInfo | See review | |
| 2 |
|
Forex inControl 3.0 | 10/10 | 1952.531953% | 3.724% | 28.6829% | 2484 | Robot pageInfo | See review | |
| 3 |
|
FX JetBot | 10/10 | 991.5992% | 10.0410% | 20.521% | 751 | Robot pageInfo | See review | |
| 4 |
|
FXQuasar | 10/10 | 1745.341745% | 5.66% | 46.9347% | 1609 | Robot pageInfo | See review | |
| 5 |
|
FXGoodWay X2 EURUSD | 10/10 | 1198.821199% | 4.875% | 56.5657% | 1620 | Robot pageInfo | See review | |
| 6 |
|
FXTrackPro Super | 10/10 | 825.29825% | 8.368% | 30.0830% | 836 | Robot pageInfo | See review | |
| 7 |
|
MyForexPath | 10/10 | 473.34473% | 6.597% | 27.9928% | 838 | Robot pageInfo | See review | |
| 8 |
|
FX Proctor | 10/10 | 325.06325% | 10.2910% | 21.2621% | 446 | Robot pageInfo | See review | |
| 9 |
|
Forex inControl 3.0 Complete | 9.8/10 | 348.15348% | 2.32% | 21.2721% | 1978 | Robot pageInfo | See review | |
| 10 |
|
FX Quake | 9.6/10 | 783.6784% | 10.1110% | 78.178% | 682 | Robot pageInfo | See review | |
| 11 |
|
FXStabilizer PRO | 9.5/10 | 3222.853223% | 3.383% | 13.2613% | 3163 | Robot pageInfo | See review | |
| 12 |
|
FX MultiCore | 9.5/10 | 1280.951281% | 11.6512% | 42.9543% | 751 | Robot pageInfo | See review | |
| 13 |
|
Trader's Moon | 9.5/10 | 385.23385% | 2.212% | 41.3541% | 2173 | Robot pageInfo | See review | |
| 14 |
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FXCipher | 9.3/10 | 548.22548% | 6.166% | 80.2180% | 943 | Robot pageInfo | See review | |
| 15 |
|
FXStabilizer Ultimate | 9/10 | 1075.11075% | 2.462% | 24.8525% | 3039 | 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 –
Backtests
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 –
Money-back guarantee
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.
Drawdown analysis
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.
Griders
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.
Martingale
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.
Fundamental trading
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
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.
Scalpers
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 TESTING
As 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 STATISTICS
Real 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;RATING
As 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 DURATION
The 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.Best Forex Robots Reviews
Here are short reviews for some of the best EAs we have on ForexStore. Those are the most high-ranked systems that are compatible with the MetaTrader platform. Check it out to see the main pros and cons of robots and choose the best products.
FXStabilizer Pro
This is a system that shows incredible stability of work during a long time, having positive trading statistics since 2016. FXStabilizer PRO trades according to the long-term profitable logic and shows that its name says it all.
Live statistics: since 2016
Minimal deposit: $1400
Currency pairs: EURUSD, AUDUSD, EURJPY, USDJPY, USDCAD, CHFJPY, EURGBP, and GBPCHF
ReviewForexTruck
This Forex trading system is a fully automated robot that trades according to the “two blocks” trading algorithm which allows it to gain high profits and have a reliable statistics at the same time.
Live statistics: since 2020
Minimal deposit: $290-970
Currency pairs: USDCAD
ReviewMyForexPath
The MyForexPath EA is one of the strong and consistent trading systems that work, showing incredible durability throughout the whole live trading period. It collects gain thanks to well thought out strategy and tools included into the trading logic of the system. This trading robot has four independent trading sessions for each currency pair that it trades on.
Live statistics: since 2019
Minimal deposit: $500
Currency pairs: AUDUSD, EURUSD, and USDCAD
ReviewFXQuasar
This amazing Forex robot trades according to the unique algorithm which is used to build the trading the way that it brings profit constantely. This system uses a unique trading logic which uses 6 independent sessions that define how the trading will be carried out.
Live statistics: since 2020
Minimal deposit: $600
Currency pairs: AUDUSD
ReviewFXParabol
FXParabol EA is a system that might be called mathematical genius among Forex robots. This automated Forex trading robot uses an amazing combination of technical indicators and the mathematical calculations performed by the system that works for the best correlation between reliability and profitability. The Parabolic SAR and the Bollinger Bands are the key indicators that make the most for this robot's performance.
Live statistics: since 2020
Minimal deposit: $400
Currency pairs: USDJPY, USDCHF
ReviewFXZipper
This trading system is charachterized as a strong scalping Forex robot which is unlikely all other scalpers is able to trade with every Forex broker and use 8 currency pairs. This system is definately has to be described as one of the best robots of that kind.
Live statistics: since 2019
Minimal deposit: $80
Currency pairs: AUDUSD, AUDCAD, USDCAD, GBPUSD, GBPCAD, GBPAUD, EURCHF, EURCAD
ReviewFXHelix
The FXHelix robot is the system which trades the way that it tries to close all the trades in profit. To achieve such a reliability of work the system uses market history analysis and only in some rare cases multiplies the lot size.
Live statistics: since 2020
Minimal deposit: $240
Currency pairs: AUDUSD
ReviewFXGoodWay X2 EURUSD
The FXGoodWay robot is yet another automated trading system that is created as a expert tool for reliable Forex trading. It uses a unique trading logic which operates with specific patterns named modes and options. This robot has multi-session logic that brings smooth profits and has auto-risk calculation.
Live statistics: since 2020
Minimal deposit: $200
Currency pairs: EURUSD and USDCHF
ReviewForex inControl Full
This Forex robot is charachterized as the profitable system that is created gor traders to control risks and loses. It uses hard drawdown control system and a few other tools to grow profit and still keep risks in control.
Live statistics: since 2018
Minimal deposit: $320-450
Currency pairs: AUDUSD, EURGBP
ReviewFXTrackPro
This Forex EA is the unique combination of the professionally developed profitable trading strategy and the reliable drawdown control system which uses a “two-blocks” trading logic together with the smart money management tools.
Live statistics: since 2020
Minimal deposit: $210
Currency pairs: EURUSD, USDCAD, GBPUSD, EURJPY, USDJPY, and CHFJPY
ReviewFXConstant
This EA is created with the unique built-in trading strategy that includes 20-patterns trading algorithm together with the market anlysis tool that provide the best trading results. The reliability of the system is provided by the trade management system.
Live statistics: since 2019
Minimal deposit: $200
Currency pairs: AUDUSD
ReviewFXStabilizer Ultimate
FXStabilizer Ultimate is another specification of the Stabilizer systems family. This robot has got all the technical benefits of the higher "Pro" version of the robot and is a lighter version, using only 6 currency pairs. Also, this Forex robot uses hard drawdown control and performs pretty stable throughout its long live trading history.
Live statistics: since 2016
Minimal deposit: $1000
Currency pairs: EURUSD, AUDUSD, EURJPY, USDJPY, EURGBP, and CHFJPY
ReviewTrader’s Moon
The Trader's Moon robot is trading with the Martingale approach. The strategy of this automated trading system is based on defining support and resistance levels to identify the direction of the markets' movement. The Trader's Moon EA is a "sibling" system to another EA called Trader's Sun. As the main tool for market analysis, the system uses Bollinger Band, Commodity Channel Index indicators and candlestick patterns as well.
Live statistics: since 2018
Minimal deposit: $500
Currency pairs: AUDCAD, GBPAUD, AUDNZD, NZDCAD, EURCHF, EURGBP, EURSGD, GBPCAD
ReviewFXGoodWay USDCHF
The FXGoodWay USDCHF EA is another part of the GoodWay EA family that is set to trade only one currency pair - USDCHF. The system is pretty consistent in its trading results and shows good reliability throughout time. The live trading chart is clear and smooth as the system uses a unique canvas of preset trading patterns and options.
Live statistics: since 2022
Minimal deposit: $800
Currency pairs: USDCHF
ReviewFXDiverse Unlimited
The FXDiverse Unlimited EA is the system that gives you a lot of control over your account's performance and the way it trades on your account. This is also achieved by the huge number of currency pairs it is able to trade with. This Forex robot shows an enduring and still solid performance, bringing profits and having smooth trading curves at the same time.
Live statistics: since 2020
Minimal deposit: $1200
Currency pairs: any currency pair chart available in MetaTrader with M30 timeframe
ReviewFAQ
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How much does a Forex robot cost?
The cost of a Forex robot may vary depending on different factors such as the quality of the system, the length of successful live performance, the number and complexity of the features that are implemented into the system, and simply the variety of different sellers of the EAs, which tend to compete with each other. But, generally speaking, the price of good Forex robots usually stays in the range of at least $100 to $1000. Also, there are some free automated trading systems that are available on the market, but you need to be careful in terms of using them for trading with real money.
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Do Forex robots really work?
Forex robots work as well as they are created and thought-through by the developers. So, if you pick up for yourself the robot that is well thought out, made with the purpose of really bringing profit and has a reliable strategy preprogrammed into it together with the right instruments such as indicators, charts and plugins, then the system will probably work successfully. It does not mean that every system that fits this description will succeed since the profitability and reliability of the Forex robot is a pretty complex thing that depends on many factors, not only the technical characteristics of the EA.
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How To Install And Trade With Forex EA?
To Install and trade with Forex EA, you need to do a list of steps:
- Select and copy the files of the robot you want to install.
- Find the MetaTrader folder on your computer. It should be located at C: drive.
- Paste the copied files into the appropriate folders. The .ex4 or .ex5 files should be placed into the "Experts" folder, and the .dll files should be pasted into the "Libraries" folder.
- Open your MT4 or an MT5 platform.
- Find the section to the left of the main chart screen that is called “Expert Advisors”. It is located under the “Navigator” panel. Click on the “+”. The list of available robots will be revealed.
- Choose the EA you want to install and drag it onto the main chart.
- The additional settings window will be opened by the terminal automatically. Set everything as preferred and hit “Ok”. After this, the system is successfully installed and ready to work for you.
If you want more details on how to install and run Forex EA on MT4, follow the link and read more.
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What is the best Forex trading robot available today?
The best forex trading robots available today are those that show persistence, reliability and profitability in the long term perspective. There are a lot of such trading systems available on the ForexStore for sale. Here is a short list of best of the best Forex robots available right now:
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Can I Use More Than One Forex EA On The Same Account?
Sure, you can use more than one Forex EA on the same account without problems. The MetaTrader platform allows you to use multiple EAs at the same account with no limits. However, you also need to understand that some systems can be in conflict with each other, and you need to be careful using different EAs simultaneously in your account because some of the conflicts might be fatal to your savings and destroy your account. Make sure to ask the developer whether the system is able to run together with other EAs.
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How Do I Know If A Forex Broker Is Legitimate?
To know if a broker is legitimate or not, you have to go through some kind of research or investigation. Any legit broker has to have official registration and license. Here is a checklist of what information to collect about the broker:
- Ask the broker to share its Retain Foreign Exchange Dealer number.
- Check it with the National Futures Association (NFA).
- Check it with the CFTC - Commodity Futures Trading Commission.
- Check the name of the broker on the Internet, if it is famous, does it have any history, background, or real feedback from users.
There is an article that we carefully prepared on how to choose the best Forex broker. Check it out for more information.
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What is the best Forex robots review site?
There are tons of different review websites on the Internet, but not all of them are real reviewers. Most of the reviews on such websites are just duplicate information about the EA provided by the developer on the official web pages of the robots.
ForexStore is the best forex robot review site since we provide real professional reviews on the Forex robots made by full-time Forex traders and analysts. We provide detailed overviews of EAs' performance, stats, profitability and drawdowns etc. We deeply analyze live trading graphs of the robots and give a professional assessment of them.
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Can I Use a Forex robot for a long-term period?
Yes, Forex robots can be used for a long-term period. There are some examples of Forex EA that show solid reliability for a long time. For example, the FXStabilizer Pro EA has live trading statistics for more than 6 years already and has a good reliability history through all this time. However, not many automated trading systems are able to keep up with such results. Many robots show good performance at the beginning or even for some time, but eventually, they still end up on the loose. That is why it is important to choose only among the best Forex robots to get consistent results.
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Where do I find the cheapest Forex robot?
You can find cheap Forex robots at different places on the Internet, but this does not mean that these systems will be quality or even safe to trade with. Most of the cheap robots are simply scams. But on ForexStore, we have not only a wide range of quality commercial EAs for sale but also a free Forex robot that is available to anyone. This is a special offer to those who want to try using an automated Forex trading system without actually paying for it. So, it is totally free to use for everyone, but still, it is a quality system that used to be one of the commercial EAs on ForexStore.
Conclusion
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!
