The Forex market has always been a land of opportunities for many traders, who have earned fortunes over the years, utilizing a combination of technical know-how, experience, and patience. However, not all traders have the required experience and technical knowledge to be successful at first. Looking at the latest forex robot comparison and the top forex Robot reviews would help such traders.
Forex Robots are automated trading platforms that are usually based on a set of forex trading signals. The system automatically determines whether to buy or sell a certain currency pair at any given point of time. They are designed to eliminate the limitations in trading posed by the influence of human emotions.
By following a set rule, forex robots never divert from already set training rules.
There is a myriad of such forex robots available on the market, each claiming to provide the best chances of portability. This article aims at presenting some of the best profitable forex robots available at the moment.
- ROFX: ROFX is a well-known AI-driven forex robot that offers its users a seamless, easy to use, trading experience. ROFX packs several useful features into its product such as package flexibility and payment flexibility. It offers 6 different packages from which traders can choose according to their requirements. Payment options include Bitcoin, alongside EUR and USD and domestic ACH for US-based customers.
- Everex: The Everex Elite Forex Robot has a good track record of extremely high-profit gains since 2013. They pride themselves in providing one of the most reliable automated trading system offering high profitability and low risk. It requires MetaTrader 4 to run and comes with a lifetime of free updates, dedicated support, and licenses for all trading accounts. It works with the EUR/USD and GBP/USD trading pair, and also provides a 60-day money-back guarantee scheme.
- Universe Forex Robot: Universe Forex Robot utilizes semi-scalping and generates an average win of around 5 pips. It has a very favorable 1:2 risk to reward ratio and a good win rate of more than 50%. It can work in multiple market conditions with a trailing stop that manages all the trades. No martingale, grid or hedging strategies are used. Backtests have a good 99% modeling quality which makes them trustworthy.
- Delton Pro: Delton Pro is another fully automated trading system that produces an almost 89% win rate. It does not have any minimum trading account balance, and a simple $50 deposit can get one started. Delton Pro uses a strategy that is based on market psychology, price action Fibonacci levels and candlestick patterns, rather than on lagging indicators. It does not incorporate any risky martingale or hedging money management strategy. According to several authoritative sites, backtests show that it can turn a $100 deposit to almost $1,000,000 within a year, with only 0.01 fixed lots being used.
- Forex Spectre: Forex Spectre is another Forex trading robot that focuses more on the EUR/USD pair. It has a close to 50% win rate according to several backtests provided. It works on the M5 time frame. According to the developers, they have already earned more than 3000% and works with only fixed lots.
- PipBolt: PipBolt is a collection of forex robots which comes with a basic strategy based on a simple indicator. The list of strategies includes Stochastic Oscillator, RIS, Parabolic SAR, Moving Average Cross, etc. to name a few. It is also compatible with Meta Trader 5.
Advantages of Using Forex Robots
Forex Trading Robots help traders who lack thorough knowledge and understanding of the forex market, with an opportunity to earn big. There are several factors why it is advised to use forex robots for greater profitability. They include:
- Nonstop Trading: Automated trading robots can work on a 24/7 basis on behalf of the trader. The forex market is a 24/7 open market with numerous trading opportunities present. By using a robot, traders can be assured that the robot is conducting the analysis and executing trades on his/her behalf, based on some pre-determined trading rules.
- Time-Saving: The processing and execution power of robots is much greater than trading manually. It is capable of executing multiple trades in mere seconds, allowing traders the maximum trading opportunities to generate profits.
- Not deviating from Trading Rules: Automated trading robots for forex can trade according to established trading rules, not deviating from it for any external cause.
- Eliminates Human Emotions: The influence of human emotions such as greed and fear has affected traders’ decisions in the past. Fear or greed can get in the way of entering and exiting a market at the right time, often suffering losses as a result. With automatic robots, this is largely eliminated as trades are executed depending on rules rather than human emotions.
The right automated trading robot can provide traders with unparalleled profitability. However, choosing the wrong ones can result in significant bad investments without any returns. The above list is just some of the most profitable robots in the market. Traders can make their own decisions by conducting some additional research. There are several authoritative sites that offer detailed forex robot reviews to help traders make a better-informed decision.