Forex Robots Rankings
Performance verified by independent third parties
This list of Forex Robots is updated by TradingMatica in an effort to provide to the readers the names of the best performing robots.
The selection is made only between the expert advisors with trading records verified by independent companies: Myfxbook, FXBlue and MT4Live.
Forex Robots verified by Myfxbook
Forex Robots verified by FXBlue
Forex Robots verified by MT4Live
Forex Robots and Automated Trading
Forex robots are automated systems that enter trade orders on behalf of the trader.
They are programmed to identify entry and exit positions and to execute orders by the application of algorithms and mathematical rules.
If you’re interested in trading currencies or other derivatives (though the vast majority of automated trading is designed to trade Forex) here are some things you must know before choosing your trading robot.
What a Forex Robot Does
The main purpose of a Forex robot is to make money trading on the Forex market without doing anything manually or having to sit at the computer.
As robots are programmed to making trade decisions, they decide when to trade and execute entry and exit orders accordingly.
The traders just have to find the ideal settings for the software: currency pair, time frame, size of each single trade and percentage of the capital to use at any given moment.
The commands executed by the robots are tested on a back-testing basis, that is using historical data, in an effort to optimize the results and in case to make changes to the software algorithms and mathematical rules with respect to maximum drawdown, to the placing of stop-loss orders and to money management principles.
Robots are usually able to scan a significant number of charts and watching the price movements in all of them at the same time, which is something well beyond human capability.
By following the best trend, they can maximize their profits and possibly eliminate chances of taking losses. As a basic rule, trading against the trend increases the chances of losses while trading with the trend maximizes profits, regardless of the trading system or software used to trade.
Some robots offer solutions to find profitable trades even in sideways market situations where the trend is not defined. They make some pips trading inside the tight range during the slowest forex market time.
The biggest advantage of a Forex Robot
The main reason for people losing money in trading in financial markets (whether it be in Forex, Stocks, Futures, Options or other derivatives) is because the majority of the traders are not disciplined.
As they come across a few losing trades, they tend to trade outside of the planned strategy: instead of sticking to the trading system defined after weeks or even months of analysis and study, the undisciplined trader tends to overtrade or to erratically enter and exit positions in an attempt to recover the lost money and guess what… they lose even more money.
The greatest advantage of the trading robot is to follow the rules of trading strategy set out in the software itself without being influenced by the psychology of the human trader.
Best Forex Robot Review 2016
Are Forex Robots a scam or can you really make money?
Of all the securities markets, the forex is the only operating 24-hour.
Finding a reliable Forex robot software that identifies and executes the trades could be a source of additional income for anybody
But the question is:
How to choose a Forex robot that really makes money?
Advantages of using Forex robot instead of manual trading
Possibility to trade all day long, even in the night
They never get tired, so always work in full awareness. It allows you to work even when you are sleeping or busy, giving you the chance of not missing good opportunities.
Higher leverage than trading stocks, options or futures (40, 80, 100, and even 1,000 times your deposit)
Trading in Forex makes it easier to short and long than with stocks or other financial instruments: if you want to short stocks you have to comply with the uptick rule, while in forex there is no such rule to follow.
The software never gets tired or inattentive and never loses focus on the market
The robot is not influenced by the emotions
Forex Robots don’t have fears and concerns.
This allows it to operate fast without change your mind during the investment: it will seem strange but being disrupted is the main cause of trading losses by manual traders.
Forex robot are always vigilant and in case not to lose lucidity!
Quality of the software and performance
The first disadvantage and probably the only one that really matters is the quality of the software and then the performance of the trading.
Does it make or lose money? And what if the robot constantly loses money?
In this situation, the more the software trades on your behalf in your account, the more it makes you lose money.
You probably can not fix it and then it would be better to stop it rather than to continue to operate it.
This is particularly true with Forex Robot available as free download.
Number of trades
Forex robots do not have emotions and do not double think before entering into a trade: when the entry conditions are met they execute the trade, no exceptions.
On one side this may generate a higher number of trades than in the manual trading, on the other side in following the rules of the software the robot reduces the risk of entering the bad trades and skipping the good ones.
Then also excessive operations should be considered a fake problem.
The connection must always be up and running, and this is especially true for automated robot software, but in general also in manual trading, depending more on the frequency of the trades rather than if the trading activity is made by a human or by a trading robot.
Is fundamental have a stable and reliable internet connection, this being true by the way for both automated and manual trading.
Installing the forex robot trading software on the hosting company servers is a perfect solution to minimize this risk; however, hosting services may also have temporary problems (for example hacker attacks), nevertheless this solution is to be preferred to the solution of keeping the home PC constantly switched on.
Beware of the Free download robots
The reason could be that the only purpose is to have you open the account and to get the cpa from the broker.