2019 has been a breakout year for successful forex robots, as a multitude of traders has amassed fortunes using them.
As we enter in 2020, the demand for automated trading software, like forex robots has increased. It’s thus a good idea to take a look at top forex robot reviews, as it would help traders make better-informed decisions when it comes to selecting an appropriate automated trading software.
Forex robots can be best described as automated trading software, executing trades on behalf of the trader, based on some predefined trading rules selected by the trader him/herself. It takes the help of trading signals and trading algorithms to complete this process. Forex robots have always been preferred by traders for their profit potential.
The following article aims to highlight five of the most profitable forex robots in existence today from reputed and legitimate developers.
- ROFX.net: Forex Robotron is a well-known forex robot which focuses more on providing a user-friendly experience. The platform is capable of conducting independent market research by analysing current events, predict their impact and make trade adjustments accordingly. Some of the useful features it has included a 24/7 dedicated support team, user-friendly interface and an auto-trading script. As noticed in the latest RoFX review it also accepts payment in various methods like direct PayPal, direct bank transfers and even in Bitcoin.
- Forex Robotron: The Robotron platform is another forex robot developed and tested using real variable spreads, real tick data and real slippage from Dukascopy with proven live results. It works with both the GBP/USD and EUR/USD market pairs which have the lowest spreads and great liquidity. This robot trades ranging markets, utilising a tight stop loss along with low risk, high accuracy and great consistency. It provides an 80% average win rate, which allows it to quickly build up the trading account equity. As far as losses are concerned, Robotron does not allow it to hit full stop loss. It instead anticipates a change in the market direction and gets out of the trade-in advance. With a reliable strategy and user-friendly interface, Robotron can go on consecutive winning streaks of more than 80 trades.
- Econ Power Trader: Econ Power Trader is another reliable forex trading robot, developed by LeapFx. It offers compatibility with MetaTrader 4 and works well with brokers who offer the lowest possible spreads and slippage. It uses AINTT (Adaptive Intelligent News Trading Technology) along with a tight stop loss. It makes a greater amount of pips from winning trades which gives it a favourable risk to reward ratio. It is thus called a news straddle trader, as it strategically identifies important news that could affect the forex market and acts accordingly.
- Securza Forex Robot: The Securza Forex Robot is one of the best available options for novice traders entering the market. Setup can be done easily within 5 minutes. It supports multiple currency pairs including EUR/USD and GBP/USD. An average trade normally lasts around 6 hours with an impressive win rate of more than 50%. The developer team also provides free updates with a money-back guarantee scheme in place.
- Finwe Forex Robot: The Finwe Forex Robot offers a high win rate of around 70% with a risk to reward ration of almost 1:1. It works with both the GBP/USD and EUR/USD currency pairs, executing almost 15 trades on a daily basis. Verified tests on FXBlue indicate that it has amassed over 200% in trading gains with a monthly gain of 50% on an average. It works best with an ECN account.
Why is it important to conduct a forex robot comparison?
Forex Robots are usually based on automatic mathematical algorithms along with trading strategies. The increased demand of forex robots has also attracted many illegitimate companies to set up Ponzi schemes masquerading as forex robots. This poses an obstacle for selecting a good forex robot for a memorable trading experience.
Often, fraudulent companies set up promising looking websites with flashy images and great offers that make them hard to resist for a novice trader. Some of the claims are even backed up by unverified back-testing information which gives the impression that the past customers have got more than their money’s worth. Often times these are just Ponzi schemes aimed at unsuspecting traders and this is how many people have lost their hard earned money.
Thus, for novice traders, it is always a good idea to conduct proper research before making any final decision based on some flashy advertisements or promises of fortune. Do not miss out on checking testimonials or reviews of those who have already used the robot. There are several authoritative sites that provide detailed reviews on the various forex robots available.
Forex robots from reliable developers and companies can change the fortune of any trader struggling to turn a profit. The above list of forex robots is just some of the most well-known and efficient forex robots in existence in the market today.