Best Fully-automated Forex Robots & Expert Advisors Comparison With Live Statistics: The Most Profitable Trading Systems Right Now
Why do we help you with rating robots?
Every year we help our readers to summarize the outgoing year and choose at least five robots with which you can start or continue trading next year, but most importantly, you can trust them with your money. During the year, we analyzed a large number of fully automated robots, which allowed us to choose the best of them.
Top 5 Best Automated Forex Trading Systems
Z Trader FX EA
How does Forex fully-automated robot perform?
Fully-automated robots are focused on trading various currency pairs to get as much profit as possible. Depends on strategies and patterns robots analyzing indicators look for the best points to get in and out of a trade.
- Analyzing indicators. Experienced traders work with analyzing many indicators to find the best point to start or finish a trade. During building the robot they make this analysis go automatically. It allows even for beginner traders don’t miss these intro and outro points.
- Patterns and machine learning. The well-designed robot usually has some different patterns to trade in various situations. The most expensive and successful ones have machine learning or even AI core to adopt for market changes.
- Trading on MetaTrader 4 platform. The MetaTrader 4 is so popular platform across the robot developers. Several of the most expensive ones can be deployed even on the MetaTrader 5 or other platforms.
- Money management system. Usually, the system includes two or three features. They’re: take profit, stop-loss, and hard stop-loss. Take profit feature allows a trader to trade as many pips as possible to get max profit. The stop-loss system is designed to get out of trades where the robot loses the account. It’s one of the most important features across all ones because saving the account balance becomes full time and fully-automated duty of the robot because it trades 24 hours a day. So, the trader can’t do this effectively by his or her own for a whole day.
- Chart building. Building charts is very expensive features that let robots nake more complicated and more successful decision about trading discipline.
- Beginners-friendly. Most of the robot buyers are beginners and this is okay. The sellers and devs know this so they allow getting smoothly started for them. Usually, there are provided support and educational materials.
What should I check to pick a robot on my own?
Every robot has got some indicators that tell us almost everything about that’s up with the robot we’re looking at.
- Profitability. All of us here because of profit. So, it matters how much we’ll be able to get every month. Great robots usually provide 8-12% of the monthly gain. As bigger, it is that better it is for us. Please, pay attention to the fact, even great robots can’t systematically do +20 or even +30% in a month.
- Drawdowns. Every level of DDs that is less than 20% is good for you. The drawdowns level between 2% and 20% is completely up to applied strategy and risk management.
- Currency pairs, Bitcoin, Gold. Of course, you may prefer some currency pairs over the rest ones. It’s ok. There’s nothing special, especially if you trade them for a while. You even can pick a robot to learn how to be the better trader of these currency pairs.
- Weekly, Monthly gains. The level of gain is important because it’s money. So you can check on the official myfxbook or fxblue pages of a robot how it performs with different currency pairs which one’s are the best and ready-to-go.
- Days live. It’s a very important factor even if it doesn’t look like this. A lot of young enough robots, especially in the first half of the year, show great results, because it’s the main marketing period, but after that, they go down or even become scammers.
- Pricing and Refunds. A good robot can be cheaper than $300-1500. Just face it, what’s the reason for devs to sell a good EA for nothing money if it is profitable?
- Comments. If the robot sells via official robot sites, you can easily find some comments and people discussions about the effectiveness of the robot. Usually, good robots have average good comments.
- Rating across the google. You can google the name of the robot to look at other articles to compare ratings across the web and create the more complicated picture about what’s up with the robot you want to try.
- Support. Devs provide support of the products they sell, but support so much varies depends on companies. Some of them provide welcome and knowledgable support, others don’t.
- Presentation. It has to explain to you everything about strategies, money management, etc. The presentation doesn’t have to push you to buy the robot immediately. If you feel you’re forced to make a purchase here and how these guys probably scammers. A Well-traded robot doesn’t need to be pushed because its results tell about itself.
Pros of fully-automated trading on Forex
- Beginners-friendly. It’s pros and cons at the same time. The good side is that you don’t need any special knowledge to get started. The bad side is that you don’t have special knowledge, as well as, trading experience to found out when the robot should be stopped on the real account because it goes to become a scam.
- Duties. The robot does for you many of everyday duties. So, it saves a lot of time for you to spend it however you want.
- Improving strategy. If you run some of the strategies you can like to improve them by buying the robot and analyze its performing and comparing its with your results.
- Demo account testing. Most of the robots let you test its functionality on the demo account before you decide to run it on the real one.