Best Trading Robot Applications – Trading is never easy, especially when you are just starting out. However, there are forex trading robots that can help you make consistent profits.
In this article, we cover the 8 best trading robot apps of 2022 and explain tips for choosing them! Scroll down to read our full review of each trading robot!
What is Forex Trading Robot?
Trading Robot is a system that automatically executes transactions based on certain algorithms. It is programmed in Meta Quotation Language (MQL), uses various mathematical models to determine entry and exit points for forex trades, and issues trading signals to traders, providing traders with an automated means of executing orders and managing transactions.
How robot traders work depends on each trader’s strategy and settings. The program will perform all the accepted tasks automatically or mechanically, so the best Forex robots are also called “experts” or mechanical trading systems (MTS). Simply put, it is a program that sends applications to Forex brokers without any intervention from traders. Usually, traders just need to build a strategy based on indicators, patterns, Fibonacci, trend lines and other tools in foreign exchange.
After setting up the EA through the algorithm, the EA will automatically scan and analyze a certain price chart in the market to decide on a buy or sell order or an exit order according to the strategy programming, so it is also called an expert advisor (EA). Until now, there are thousands of trading robots in circulation and you can buy. Therefore, we have listed the 8 best forex trading robot apps below.
However, I recommend to you for read this article before starting choice Forex Trading Robot : (How To Choose Best Trading Robot)
8 Best Forex Trading Robot Apps (Paid and Free)
Finding the best trading robot for your needs is no easy task, we have listed some of the best forex trading robots that you can use in 2022. These forex trading robots are well tested and offer traders the opportunity to get the most out of their trades. do. Check out our list below to determine which one best suits your needs.
|Trading Robots||Average Income||Detention Time||Withdrawal||Cost||Trading Terminal||Minimum Capital|
|GPS Forex Robot||>30%||Yes||12%||No||MT4||$250|
|ForexVPS||15-60%||No||15-30%||From $30||MT4 & MT5||$500|
|EA Builder||90%||Yes||13%||No||MT4 & MT5||–|
|Tops Scalper FV||–||Yes||–||No||MT4 & MT5||–|
|Correlates EA Free||65%||Yes||9%||No||MT4||$200|
|EA Forex Flex||67%||Yes||45%||–||MT4 & MT5||$100|
1. GPS Forex Robot
Forex GPS robots have been available for purchase in the market since their launch in 2012. These trading robot applications are created not only by software programmers but also by experienced forex traders which is reflected in the longevity of the robots. The robot has been used successfully by investment firms on Wall Street and official performance data show that the trade is profitable. This is important because very few developers see their Expert Advisors used by investment houses who usually employ their own quantitative analysts to develop their own automated systems.
Forex GPS Robot is not a high frequency trading EA and does not scalp the forex market, there may be days when not to trade with focused trades when the algorithm shows a high probability that the trade will be successful. You can see on the site a verified GPS showing how a $100,000 deposit has grown to over $670,000 over the period trading the EURUSD currency pair in the forex market. Even more impressive is the verified performance of an investment firm that has used robots where the initial $1 million deposit has increased to over $3 million since 2014.
ForexVPS is a company that provides dedicated servers for trading. The Virtual Private Server (VPS) is active around the clock, with no downtime making it ideal for those who run Expert Advisors on platforms like MT4 or 5. To work properly, the EA must always be active, so if there is a problem with the internet connection or the terminal is offline, you could lose opportunities and money. ForexVPS offers ultra-low latency, just 1 millisecond, no resource sharing and a 100% uptime guarantee.
There are three price points for this service, and the only real difference is the amount of RAM and SSD you get for your money. Starting at just £26.31 per month for 1 GB RAM, 1 CPU (Core) and 80 GB SSD, this is a service that can ensure the best performance of your robots and algorithms. There is a way to get a mid-tier plan for free through your broker. All you need to do is deposit at least the minimum amount and trade the required volume monthly and there is no charge for your VPS. ForexVPS also has a checker that you can use to test your broker’s latency.
3. EA Builder
This tool comes without manuals that you have to study or components to install on your computer. EA Builder is a web-based application that comes with free access. One of the distinguishing features of this software for this EA Builder Review is its new strategy. As we have reported, EA Builder is a software that allows you to create your strategies, functions, features and configurations. Fully customizable, and you can customize to your size and taste.
In addition, you can develop completely new strategies, based on other strategies. So, your possibilities with this software are endless. Each feature has a pop-up tip that guides you with brief explanations, so you never get lost. The program is also loaded with features. In terms of money management techniques, Forex EA Builder allows you to set up your own technique with just a few clicks, to get peace of mind that your account is never hit by big losses.
4. Yellow Free
Yellow free is a fully automated free trading robot application that works on short-term trend fluctuations, developing a “corridor” of price changes defined in these parameters. Trading is carried out at the outer boundary of the corridor by launching multi-directional positions with different lot sizes. This free trading robot achieves a very high probability of closing profit positions. As the trade reverses, the contract size automatically increases, which is part of the fully automated expert advisor’s built-in coding.
Yellow free is intended to trade any currency pair on the H1 timeframe. Although free, yellow free has several excellent features such as being able to set a true or false strategy, a feature to comment on orders and take any profit, a trailing stop feature, a lot multiplier for the next open position and expansion of the price corridor when exiting an unprofitable position.
5. Tops Scalper FV
Tops Scalper is an expert scalping advisor for the MetaTrader 4 trading platform. It is designed to create BuyStop and SellStop orders not far from the main price levels. It will then try to take advantage of triggering orders at that level. We can find scalping trading robots to operate in a very short time, from a few seconds to a few minutes. The use of these robots is very useful, because scalping is one of the most complicated types of trading due to the precision required of traders.
With scalping trading robots, reaction time and thoughts or doubts are reduced, resulting in cleaner execution. It is recommended to only use the EA on the H1 timeframe with major currency pairs. Trades can be managed using profit taking, stop loss, trailing stop, and more.
Many parameters are also available to change, these include things like lot size, how the lot size is managed, risk percentage, to reduce loss or win, hard stop, take profit, trailing stop, max spread, profit target, maximum loss and more. many options are also available. There is a free version available, the main limitation on the free version is that the lot size is fixed and so is the magic number.
6. Correlates EA Free
Correlates EA Free is a free trading robot that has been created for use with the MetaTrader 4 trading platform. It is the best forex robot characterized by its ease of use and simplicity in monitoring it. This trading robot uses the notion of correlation between EURUSD and USDCHF currency pairs, by doing this the expert advisor can protect himself by opening trades on major pairs and correlated pairs at the same time, this helps to avoid potential large drawdowns.
There are a number of parameters that can be tweaked to change how the expert advisor functions, these include things like automatic lot size, lots, risk, drawdown, correlation period, take profit percentage, correlation minimum, correlation step size, lot multiplier, broker prefix, suffix brokers, and magic numbers. The developer also uses the MetaTrader Strategy Tester for backtesting which uses prices generated from bar data instead of real price tick data. The result is a set of performance data that is no more than 90% accurate.
7. Signal T-200
Usually, a trader looks for profitable trading robots to reduce the time spent looking for opportunities in the market, because by setting the parameters the trading robot can open or close profitable positions on the Forex market 24 hours a day, or create alerts so that the trader decides whether he wants to carry out an operation. or not. This trading robot application uses a range-based automation strategy. The idea of this is from the high and low price of the forex pair.
This is very suitable to be used during productive time. In addition to all the functions and warnings that you can enter into the account. As you can see, with the support of this forex trading robot, you have complete control. Instead of using pip-based take profit, this best trading robot uses trailing equity take profit where all trades are placed in different baskets. Take profit is activated once a certain percentage is reached by the basket. You can adjust to avoid trading during certain sessions.
8. EA Forex Flex
Forex Flex EA is a highly mobile and high powered forex robot. It comes with 12 pre-loaded custom strategies, which can be changed inside the EA with a single mouse click. Basically, it’s like 12 EAs in one! Their big ‘default’ strategy is a very interesting grid and trend reversal hybrid. Some of you can hear the word grid and have questions, but Flex does something very different. It will not start the grid until it is decided that its core asset (their virtual trading technology). Most other network systems open businesses with no clear market conditions or use very simple outdated metrics that always prove to be unsuccessful.
FX EA is a versatile best forex robot that uses a technology called ‘virtual trading’ by its developers. Expert Advisors forex robots have provided a way out for less knowledgeable forex traders to have an equal opportunity to profit. While results shouldn’t be the only consideration when assessing an EA, they do provide a partial idea of how much profit you can expect. Therefore, you should always consider other metrics before determining which one is the best.