Forex robots are big in forex markets these days. They use an algorithm to develop strategies and look for profitable trades. They can also enter a trade and automatically trade as per your instruction. If you are a new investor or just started forex trading, you need a good forex robot to do your bidding. Speaking of that, today’s topic features top forex robots comparison, which will be beneficial for you if you are new and clueless. We will be doing the reviewing in a bit, so stay tuned.
So where were we? FX robots reviews you to keep up with the economic market and news to give you relevant information at your dispense. Most investors face this emotional bias while trading and end up risking a heck tonne of the fund. Adopting a robot to invest as your proxy takes away the emotional bias and deals with the investment based on practical strategies. You don’t require extensive knowledge or experience in trading for using forex robots. They are ready to be used and comes with instructions for beginners for smooth operations. Whether you are a beginner or experienced, you will benefit from using a forex robot either way.
Some Factors to Consider While Looking for A Forex Robot
Look for the drawdown rate: The drawdown rate is for measuring the decline and reduction of capital. The higher drawdowns, the more significant gains. However, a greater drawdown rate can sometimes cause a greater loss. So always maintain a steady drawdown rate, meaning not too high, not too low.
Use verified robots only: It is a good practice not to get involved or deal with unverified sources. There’s a reason why sites write reviews, and people read them. So, do a bit of research before you invest. Stay miles away from bad-critiqued forex robots.
Use demo/trial account first: If you don’t know, there is a demo account for forex robots. This demo account is for you to try the features and gauge the performances before making real trade. A demo account helps you understand how the robot works and tinker around with the settings and parameters.
Best Forex Robots
1. GPS Forex Robot 3
GPS’s minimum deposit is $100. It uses innovative technology and algorithm to calculate the strategy. It constantly monitors the market and estimates market risks and gains. GPS has a dozen trading styles and strategies for you to choose from. You can set up automated updates and tweak with the settings. It also keeps constantly updated, allowing you to be exposed to more developments. The win ratio of the robot shows live and has a gain of 300%.
2. Forex Astrobot
Astrobot’s minimum deposit is $200, which is greater than GPS but lesser than many robots in the market. The robot has auto-trading features and also full-proof strategies to protect your account from dealing with losses. Using its unique trading algorithm, Astrobot gives clear and concise insights about the market and keeps you updated. It has a trailing stop feature and money management option that decreases the lot size if the market condition isn’t stable. Although it’s packed with a variety of features, the win rate is only 80%.
3. Forex Kore EA
Forex Kore EA requires only $50 as a minimum deposit. The robot features adaptive market analysis, money management, multi-currency trading, and much more features. It consists of hands-free automation that bases its strategy and planning according to the market. The response will be in real-time, so you get to see every trade live. It has a whopping win rate of 2,000%, which is quite impressive.
4. Forex Gump
Does the name Forex Gump ring a bell to you? Hint: It’s a movie’s name. Humorous, isn’t it? Anyway, let’s get to business. Forex Gump requires $400 on a nano account and $4,000 regular account, so pick your choice. This good bot runs on various currency pairs and an in-depth analysis of the forex market. It often offers refunds if things fail from its end, so that’s a plus! Some sites report the gain ratio to be over 1,000% for this robot.
5. X Trend Premium
Now, this isn’t your conventional forex robot but an indicator. However, this is a vital tool to have, considering the minimum deposit isn’t much. X Trend’s minimum deposit is $100. According to its creator, X Trend is a forex indicator that uses algorithms that adjusts to market fluctuations in real-time. The indicator can send by email or push notifications on your phone. Keep in mind that this is just an indicator, so you need to make trades by yourself. The winning ratio is 1:3 with this tool.
Conclusion
There a lot of options in the market and we have named some of them. If you have a forex robot in mind, it’s best to research first before investing. Forex robots are great for those who don’t have time to do every trade singlehandedly so if you are running out of time, consider using a forex robot. As I said earlier, you don’t need prior education or experience to handle a forex robot; it lets you invest and trade as a beginner.
