Top Rated Forex Expert Advisors Robots
Since the introduction of automated forex trading software into the forex trading landscape, its popularity has grown exponentially. These trading robots or software, also known as expert advisers, scan the market and follow some trading rules previously described to get in and out of trades automatically.
Many people argue that Forex EAs are not as effective as human traders. There are two main reasons why EAs are not always as effective: They cannot simulate all aspects of human behavior and they are over-sensitive. For this reason, a trader should always research certain aspects of an EA before using it. The best forex expert advisor Keep things transparent enough that your user base can evaluate them appropriately at any time.
Things to avoid
A simple Google search for Expert Advisor will get you thousands of search results, which reflects the overwhelming number of vendors and developers who offer such services. However, there are many scams and scams going under the guise of a legitimate EA. To make sure you don’t fall into this trap, there are some red flags that you can consider common in EA scams and scams. Avoid the brokers and software providers if you come across or more of these red flags.
Cloudy or incomplete information regarding the developer
Hiding the information about the team behind the product or the developers in charge is a sign that they are trying to hide something. This is how scams generally work when they refuse to reveal information that could link their true identity to the crimes. Avoid providers who cannot or do not want to provide information about their background.
Risky trading metrics
Certain metrics can determine if a particular EA is risking more than necessary. For example, it’s important to take a look at the drawdown rate. Scams or scams promoting high returns usually have higher drawdown rates, which indicates higher risk. Avoid such a high percentage of drawdowns.
Stay away from EAs who do not provide enough information about how their robot is working or the strategies they are using. There are many risky strategies like scalping that can be detrimental to your balance in the long run. Always check whether the strategy carries moderate risk or not
A list of the best Forex Eas on offer
After considering the various factors required to make an informed decision, we’ve compiled a list of the best Forex EAs to use.
Forex Fury advertises as a fully automated EA compatible with almost famous platforms: Mt4, MT5, FIFO and NFA. It’s a bold claim to hit a 93% win rate. The product is currently available in two packages: diamond and gold. Initially starting with just one pair, the GBP / USD, it has grown over time to offer trading in other currency pairs such as XAU / USD, AUD / JPY, EUR / USD and USD / CHF. However, the strategy is risky.
ROFX was developed by a group of forex traders and experienced developers and has continuously expanded its customer base worldwide. With cheap deposit and withdrawal methods including Bitcoin, it has become the target for many traders to find the minimum deposit and trade amount to be reasonable.
Forex Flex EA
Forex Flex EA was developed by a skilled programmer named “Admin Steve” and uses its proprietary virtual trading technology to monitor current market conditions. It is compatible with MT4 and MT5 brokers, as well as NFA and FIFO. Users can choose from 12 different trading strategies that come with built-in money management.
FX Fortnite EA
Fortnite is a knowledgeable advisor who not only automatically trades in the direction of the trend but can also hedge trading to mitigate its losses. In other words, this EA has a trend following strategy. Various settings ensure that the product can be customized for high, medium and low risk trading styles.
The wide application of robot trading in the market has benefited transaction efficiency. This has resulted in many developers creating trading robots that are able to simulate various strategies in order to make a profit. Learn all about forex and trading strategy through a comprehensive forex training course and forex signals.