Good or Bad? Let’s Help You Decide with a Helpful Guide to Forex Robots

As you gain more trading experience, it’s natural to become curious about auto-trading and the best Forex robots. After all, if there’s a tool which can save you time and effort, you’re going to want to use it. Although Forex robots can seem intimidating at first, our list of the best robots and our comprehensive guide should put you completely at ease.

On this page, we’ve listed the best Forex trading robots of 2019 for you to choose from. These have all been carefully selected by our expert team, to ensure there’s something to fit your every requirement as a trader.

We’ve also provided all the information you need to start using Forex trading robots. This includes how automated trading and Forex robots work, what benefits they offer and how to incorporate them into your trading activity.

    1. Tips on picking Forex robots
    2. Top Forex Brokers
    3. Advantages and disadvantages of auto trading

What is automated Forex trading?

Becoming a profitable Forex trader means spending time watching the movements of the currency markets and keeping up with world economics and news. This used to mean hours spent sat at the computer, trying to keep up to date with relevant events. However, there is now a tool that can save traders from such an onerous task, and it comes in the form of Forex robots or automated trading.

These robot Forex tools, which are sometimes also known as Forex EAs, have become very popular, particularly in today’s busy world. Many traders are now taking advantage of the best Forex robot systems, which do everything for them, apart from providing the necessary funds. This allows today’s modern Forex trader to get on with their normal life, without constantly worrying about the state of the Forex market.

What is a Forex robot and how does it work?

Automated Forex trading makes use of a tool known as a Forex robot. These Forex trading robot tools are basically just a computer program or algorithm. The program scans the Forex market looking for profitable trades to take advantage of. The robot’s algorithm can be based on pre-set parameters or trading strategies and the robot can either be instructed to trade automatically on a trader’s behalf or give traders the option to enter the trade manually.

Most Forex automated trading robots use technical indicators to help find profitable Forex trading opportunities, although different robots will use different trading strategies. A Forex automated trading robot can watch movements far more efficiently than a human and they aren’t burdened with human emotion when it comes to making trading decisions.

Things we consider when choosing the best Forex auto trading robots

The advantages and disadvantages of automated trading systems

If you are considering using an automated trading system to assist with your Forex virtual trading, you need to be aware of the main pros and cons of trading in this way. Luckily for you, we’ve listed them all below.

Advantages of Forex auto trading

In order to create a realistic picture of automated trading systems it’s time to look at some of the downfalls you should be aware of:

Disadvantages of automated Forex trading

Do Forex robots really work?

We’ve got to be honest here and admit there are no sure-fire ways to successful Forex trading, however you plan to do it. There are no strategies, tools, systems, or ways of playing the market that guarantee 100% success. And it is no different for Forex auto trading systems. Although there are several great Forex Expert Adviser robots available on the internet, do you really think that somebody is going to sell the perfect money-making system? Of course not. They are going to keep it for themselves, and in fact, many of the big financial firms keep their automated trading programs firmly under lock and key.

Our aim is to give a totally unbiased opinion of Forex robots and to provide you with a balanced picture of what they have to offer. It is worth pointing out that there are a number of Forex auto trading robots that make rather big promises, yet they are rarely all they’re cracked up to be. A number of Forex robots are actually scams, and there are very few articles from news and financial sources that promote them. It seems that a popular way for many online robot merchants to promote their own software is by bad-mouthing the competition, and many of their advertising claims of traders making huge profits are simply fake reviews.

Whilst many of the hard-selling Forex trading robots you see are indeed deceitful, you can always trust us to only ever recommend you worthwhile robots and strategies. Our expert team always takes the time to test every robot they come across, which allows them to give unbiased and carefully considered reviews. Our reviewing process is also transparent, as we’ve included all our testing criteria on this page, which means you can finally choose a Forex trading robot you can trust and rely on.

Final tips before you pick the best Forex robot for you

The best way to gain an understanding of the benefits of using Forex trading robots is to spend some time reading genuine customer reviews as well as our own professional ones. There are plenty of reviews to be found online, you simply need to ensure that you’re always reading them from a reputable source.

Forex robots can analyze millions of charts far quicker than a human and generally, point your trades in a more positive direction. Although any robot is only able to perform as well as its program, the good news is that there are some great programmers around who have created the very best Forex bots. If you want to be sure your using a trusted and professional system, check out the recommended robots we’ve featured on this page.

It’s also important to remember that successful trading requires a large amount of human research and observation, although this can certainly be aided with the right Forex robot. Robots are great at picking out positive trends and trading signals at much quicker speeds than humans, yet their usefulness can also be undermined by malware, hacks and bad design.

To use Forex robots effectively, you should always employ your own trading knowledge, in addition to putting trust in the robot itself. There is definitely evidence that proves that trading with the help of Forex robots can be advantageous, but you also need to exercise your own diligence and patience.

Best Forex Robots 2019

Auto Trader
Summary
Starting price
Rating
Strategy Quant
Summary:Build strategies with professional, user friendly tool. 14 day free trial. High end price.
Starting price: $1290
Fx Delta
Summary:Works with any asset inlcuding stocks, commodities & crypto. Not fully automated.
Starting price: $197
Forex Gump
Summary:Fully automated MT4 trader, limited to 9 currency pairs
Starting price: $199
FXCharger
Summary:EUR/USD only for basic package
Starting price: $385
Forexcyborg
Summary:More suited to professional traders
Starting price: $499
Robotron
Summary:MT4 trader, no live feed to demonstrate success
Starting price: $299
Forex Diamond
Summary:60 day money back guarantee, MT4 & MT5 EA
Starting price: $297

All of the information we’ve provided on this page leaves you in a perfect position to go and try out the best Forex robots and auto trading systems. Armed with a wealth of knowledge, why not sign up with one of our recommended top Forex brokers today to test these robots for yourself.

Best Online Forex Brokers – List

Broker Min Deposit Welcome Bonus Rating
forexcom logo $ 50 N/A ★★★★

Review
$ 100 - ★★★★★

Review
nadex logo $ 250 N/A ★★★★★

Review
Broker Min Deposit Welcome Bonus Rating
$ 10 N/A ★★★★★

Review
hycm logo $ 100 up to $5000 ★★★★★

Review
Alparilogo $ 100 Cashback ★★★★★

Review
forexcom logo $ 50 Check Website ★★★★★

Review
$ 100 N/A ★★★★★

Review
$ 200 N/A ★★★★

Review
$ 25 50% up to $2,000 ★★★★

Review
$ 100 20% ★★★★★

Review
fbs logo $ 1 $50 ★★★★

Review
Broker Min Deposit Welcome Bonus Rating
$ 10 N/A ★★★★★

Review
Alparilogo $ 100 Cashback ★★★★★

Review
xtb logo $ 250 N/A ★★★★★

Review
$ 200 N/A ★★★★

Review
$ 100 N/A ★★★★

Review
$ 5 $30 No-Deposit Bonus** ★★★★★

Review
etoro logo $ 200 N/A ★★★★

Review
hycm logo $ 100 up to $5000 ★★★★★

Review
fbs logo $ 1 $50 ★★★★

Review
Broker Min Deposit Welcome Bonus Rating
fbs logo $ 1 $50 ★★★★

Review
$ 100 20% ★★★★★

Review
$ 100 20% ★★★★★

Review
hotforex logo $ 50 100%* ★★★★★

Review
instaforex logo $ 1 $20 ★★★

Review
Broker Min Deposit Welcome Bonus Rating
$ 10 N/A ★★★★★

Review
Alparilogo $ 100 Cashback ★★★★★

Review
hotforex logo $ 50 100%* ★★★★★

Review
$ 5 $30 No-Deposit Bonus** ★★★★★

Review
$ 100 20% ★★★★★

Review
fbs logo $ 1 $50 ★★★★

Review
instaforex logo $ 1 $20 ★★★

Review
$ 100 20% ★★★★★

Review
Broker Min Deposit Welcome Bonus Rating
$ 10 N/A ★★★★★

Review
$ 200 N/A ★★★★

Review
$ 100 20% ★★★★★

Review
Alparilogo $ 100 Cashback ★★★★★

Review
hotforex logo $ 50 100%* ★★★★★

Review
$ 5 $30 No-Deposit Bonus** ★★★★★

Review
$ 100 20% ★★★★★

Review
$ 1 30% ★★★★

Review
hycm logo $ 100 up to $5000 ★★★★★

Review
fbs logo $ 1 $50 ★★★★

Review
Broker Min Deposit Welcome Bonus Rating
$ 10 N/A ★★★★★

Review
Alparilogo $ 100 Cashback ★★★★★

Review
hotforex logo $ 50 100%* ★★★★★

Review
$ 5 $30 No-Deposit Bonus** ★★★★★

Review
$ 200 N/A ★★★★

Review
$ 100 20% ★★★★★

Review
hycm logo $ 100 up to $5000 ★★★★★

Review
fbs logo $ 1 $50 ★★★★

Review
Broker Min Deposit Welcome Bonus Rating
$ 10 N/A ★★★★★

Review
Alparilogo $ 100 Cashback ★★★★★

Review
hotforex logo $ 50 100%* ★★★★★

Review
$ 5 $30 No-Deposit Bonus** ★★★★★

Review
xtb logo $ 250 N/A ★★★★★

Review
$ 100 20% ★★★★★

Review
$ 100 20% ★★★★★

Review
hycm logo $ 100 up to $5000 ★★★★★

Review
fbs logo $ 1 $50 ★★★★

Review
Broker Min Deposit Welcome Bonus Rating
$ 10 N/A ★★★★★

Review
Alparilogo $ 100 Cashback ★★★★★

Review
hotforex logo $ 50 100%* ★★★★★

Review
$ 5 $30 No-Deposit Bonus** ★★★★★

Review
fbs logo $ 1 $50 ★★★★

Review
xtb logo $ 250 N/A ★★★★★

Review
hycm logo $ 100 up to $5000 ★★★★★

Review
$ 100 20% ★★★★★

Review
Broker Min Deposit Welcome Bonus Rating
$ 10 N/A ★★★★★

Review
Alparilogo $ 100 Cashback ★★★★★

Review
hotforex logo $ 50 100%* ★★★★★

Review
$ 5 $30 No-Deposit Bonus** ★★★★★

Review
xtb logo $ 250 N/A ★★★★★

Review
fbs logo $ 1 $50 ★★★★

Review
Broker Min Deposit Welcome Bonus Rating
$ 10 N/A ★★★★★

Review
Alparilogo $ 100 Cashback ★★★★★

Review
$ 5 $30 No-Deposit Bonus** ★★★★★

Review
hotforex logo $ 50 100%* ★★★★★

Review
$ 200 N/A ★★★★

Review
fbs logo $ 1 $50 ★★★★

Review
$ 1 30% ★★★★

Review
$ 25 50% up to $2,000 ★★★★

Review
$ 100 20% ★★★★★

Review
Broker Min Deposit Welcome Bonus Rating
hotforex logo $ 50 100%* ★★★★★

Review
$ 5 $30 No-Deposit Bonus** ★★★★★

Review
$ 100 20% ★★★★★

Review
fbs logo $ 1 $50 ★★★★

Review
instaforex logo $ 1 $20 ★★★

Review
Broker Min Deposit Welcome Bonus Rating
$ 10 N/A ★★★★★

Review
Alparilogo $ 100 Cashback ★★★★★

Review
hotforex logo $ 50 100%* ★★★★★

Review
$ 5 $30 No-Deposit Bonus** ★★★★★

Review
$ 100 20% ★★★★★

Review
$ 100 20% ★★★★★

Review
fbs logo $ 1 $50 ★★★★

Review
hycm logo $ 100 up to $5000 ★★★★★

Review
Broker Min Deposit Welcome Bonus Rating
$ 10 N/A ★★★★★

Review
Alparilogo $ 100 Cashback ★★★★★

Review
hotforex logo $ 50 100%* ★★★★★

Review
$ 5 $30 No-Deposit Bonus** ★★★★★

Review
$ 1 30% ★★★★

Review
fbs logo $ 1 $50 ★★★★

Review
hycm logo $ 100 up to $5000 ★★★★★

Review
$ 100 20% ★★★★★

Review
Broker Min Deposit Welcome Bonus Rating
$ 10 N/A ★★★★★

Review
Alparilogo $ 100 Cashback ★★★★★

Review
hotforex logo $ 50 100%* ★★★★★

Review
$ 5 $30 No-Deposit Bonus** ★★★★★

Review
$ 1 30% ★★★★

Review
$ 25 50% up to $2,000 ★★★★

Review
fbs logo $ 1 $50 ★★★★

Review
$ 100 20% ★★★★★

Review
instaforex logo $ 1 $20 ★★★

Review
*The Bonus is not available for Clients whose accounts fall under HF Markets (Europe) Ltd. The Bonus availability depends on Client's Country of residence.
**Trading bonus are not eligible for clients registered under Trading Point of Financial Instruments Ltd and Trading Point of Financial Instruments UK Ltd.

See a Full List of Forex Broker Companies

FAQs

Can you make money with Forex robots?

Of course. Forex robots allow you to make a profit, provided you select a reputable robot and exercise your own best judgement on trades.

What is the best automated trading software?

The best automated trading software for you will depend on what you want the system to do on your behalf, and what trading strategy you wish to employ. Whilst this is a subjective decision, the best automated trading software programs will all have favourable reviews by both users and experts.

Are Forex trading bots legal?

Yes. Forex trading bots are a legal addition to your trading arsenal and many top Forex brokers will encourage and facilitate the implementation of Forex robots.

Are Forex robots easy to use?

The best Forex trading robots do a lot of the work themselves and so, once they are installed, they are typically very user-friendly and easy to use.

How do you install a trading robot?

You can install a trading robot through your broker’s site directly, or via your Metatrader trading platform, through the Expert Advisors (Forex EA) function. The installation process can vary from robot to robot, however, all top Forex robots should come with their own step-by-step installation instructions.

Related Articles