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27 Best Forex Robot Traders

Best Forex Robot Traders

 

 

 

 

Overview

A Forex trading robot can simply be described as a computer program that is based on a set of Forex trading signals which help the trader determine whether they should buy or sell a currency pair at a given point in time.

 

 

These robots are specifically designed to remove the psychological element which is associated with trading. Such psychological elements have proven to be quite detrimental.

 

 

Although there is an array of systems that can be purchased online, traders are still warned to practice caution when making such purchases and to look out for key indicators of scammers.

Here are our 10 Best Handpicked Forex Robot Traders:

  1. ✔️Algo Signals
  2. ✔️FXMasterBot
  3. ✔️Learn 2 Trade
  4. BinBot Pro
  5. Premium FX Signals
  6. Big Breakout EA
  7. CentoBot
  8. Pure Martingale MetaTrader 4 Forex Robot
  9. Hamster Scalping Trading Robot
  10. Odin Forex Robot

 

Let’s get started with the full breakdown of the 27 Best Forex Robot Traders.

 

Algo Signals

 

Overview

Algo Signals is a free and user-friendly trading software that can be used to trade both Forex and cryptocurrencies. Traders are offered an enhanced trading experience by being connected directly to licensed brokers.

 

Algo Signals offers traders a choice between a few accounts and provides traders with an incentive program where traders can earn special points, a feature on a leader board, and the chance to win prizes.

 

Features

A choice between three accounts with a minimum deposit between $250 and $500.
Provision of a demo account.
Settings such as Reverse Trading, Max Daily Trades, Daily Take Profit, Stop Loss, and more.
Over 100 signals are provided daily.
Automatic setup in VPN mode.
24/5 customer support.
Deposits and withdrawals are handled by the broker that the trader relates to.

 

Pros and Cons

✔️Pros ❌ Cons
Download/installation not necessary High minimum deposit
Daily profits of 2% according to Algo Signals
Variety of accounts offered
24/5 Customer support offered
Deposit/withdrawal done through brokers so client fund security can be ensured

 

FXMasterBot

 

Overview

FXMasterBot is a unique Forex trading software that allows traders to trade either automatically or manually in addition to being able to customize the trading signals which are delivered directly to their trading profile.

 

Traders are provided with a demo account that has $1,500 virtual money and adequately allows traders to explore the platform before moving over to live to trade. Traders have access to an array of brokers which diversify their portfolio to a great extent as well.

 

Features

The algorithm provided is highly customizable.
The minimum deposit starts from $200 on the Novice Account.
There is a $25 minimum per trade which allows the bot to place up to 8 trades with the entry-level deposit.
There are no additional fees charged on trading.

 

Pros and Cons

✔️Pros ❌ Cons
Free Demo account with $1,500 virtual funds Mobile App not available
Free Forex Software
Customization capabilities and features
Transparency
Access to multiple Forex Brokers

 

Learn 2 Trade

 

Overview

Learn 2 Trade is globally renowned as one of the best providers of Forex signals and the platform is based in London. Learn 2 Trade has gained in popularity for various reasons, one being that it provides signals for both Forex and cryptocurrencies.

 

Traders are offered three options pertaining to signal provision consisting of either a 1, 3, or 6-month package at competitive prices.

 

Features

Pricing on signal packages starts from $25 which provides three signals a day up to a 6-month package for $85.
Signal delivery through Telegram in real-time
A reliable stop-loss feature
24/6 customer service
Tools such as chart analysis, market trends, and more.

 

Pros and Cons

✔️Pros ❌ Cons
The provider has more than 10 years of industry experience CFD signals not provided
Signals delivered to Telegram, email, and push notifications Trading signals only on Forex and cryptocurrency
The high success rate in providing accurate signals
Access to numerous brokers

 

BinBot Pro

 

Overview

BinBot Pro is an online binary trading platform which is managed by Centre Project Ltd. which is a subsidiary of Finance Group Corp. Registered in The Republic of Vanuatu, BinBot Pro is regulated by the VFSC.

 

BinBot Pro offers traders access to numerous Forex and cryptocurrencies which can be traded through its web-based trading software which has the full functionalities of a trading platform.

 

Features

Traders have access to Binary Cent, Vide Forex, and Race Option.
There is a minimum deposit of $250 across the three integrated brokers with a minimum investment of $0.1.
BinBot Pro pays a maximum of 90% returns and traders can make up to 300% profits.
A wide variety of Forex and cryptocurrency can be traded.

 

Pros and Cons

✔️Pros ❌ Cons
Manual customization of robots Trades are not visible
Fast and reliable Trading periods are short
The account manager provided and risk management options offered
No fees on deposits, trading, or withdrawals
Demo account provided

 

Premium FX Signals

 

Overview

Premium FX Signals is one of the best providers of trading signals along with being reliable and providing superior risk management options to traders.

 

Premium FX Signals is known for delivering Forex signals which are consistent through the robot technology that it employs with the purpose of catering for automated and manual trading.

 

Traders are provided with risk management options that give them peace of mind along with exit prices, stop loss and take profit levels, and more.

 

Features

Traders offered with both Forex and cryptocurrency trading.
Digital and financial technology employed to provide transparent, accurate, and secure access to one of the world’s largest financial markets; Forex.
A wide range of currencies is offered such as EUR, USD, GBP, and more.

 

Pros and Cons

✔️Pros ❌ Cons
Adequate risk management practices Broker services not offered
Accurate Forex trading signals Traders need to make use of a third-party broker
Signals are easy to interpret Text message alerts are only available to US Clients

 

Big Breakout EA

 

Overview

Big Breakout EA is a Forex robot that works best when utilized with the MetaTrader 4 and MetaTrader 5 trading platforms, but it unfortunately only provides indicators on the price movements and behaviors of commodities.

 

For traders who use the breakout strategy, this Forex trading robot is perfect as the advanced and adaptive algorithm monitors price behaviors and recommends the best entry and exit points.

 

The A.P.L.D algorithm in addition also monitors the support and the resistance levels which inform the trader of the most appropriate price action.

 

Features

The information available on MetaTrader 4 and/or MetaTrader 5 is used.
The trading robot works to process binary rules by using ‘Yes’ or ‘No’ as parameters for decision-making.
The algorithm can be rented for a period of either one or three months.
Some of the strategies traded include ZigZag Breakout, 1-2-3 Breakout, 1234 Breakout, Fractals Breakout, Candle Breakout, and Inside Bar Breakout.

 

Pros and Cons

✔️Pros ❌ Cons
Demo available Trading robot not pre-optimized
Variety of strategies traded The license of every EA downloaded is time-limited
Function glossary available Limited functions on the demo account
Works with MT4 and MT5
Limitless accounts that can be managed

 

CentoBot

 

Overview

CentoBot was first launched in 2017 and can be used to trade a limited number of tradable financial assets automatically. The trading robot was created by a team of Cent Group Ltd. experts and the company falls under the Fintech company, Finance Group Corp.

 

CentoBot can be used on the platform through three major brokers which provide traders with some of the best trading services and traders can invest as little as $0.10 per trade, with trades that are executed in as fast as 60 seconds.

 

Features

CentoBot claims that traders can get up to 300% in profits and 96% in returns.
A wide variety of financial instruments can be traded from mostly Forex or cryptocurrency.
There are more tradable financial instruments that can be traded when working through the three major brokers provided by CentoBot.
Account options include a Bronze, Silver, and Gold account with a minimum deposit from $250 up to $3,000.

 

Pros and Cons

✔️Pros ❌ Cons
Dedicated customer support The mobile platform not provided
Customizable robots A demo account must be funded before it can be used
Advanced trading robots
Dedicated account managers
A wide range of deposit methods supported

 

Pure Martingale MetaTrader 4 Forex Robot

 

Overview

This Forex trading robot uses the martingale strategy which has random buy/sell entries and can be reprogrammed to suit the trading needs and preferences of the trader to further enhance trading results.

 

Although there is no holy grail of trading strategies, the Pure Martingale EA has been noted as highly profitable as it increases the trading lot size along with the take profit distance.

 

Features

This Forex trading robot is available on the MetaTrader 4 trading platform.
The robot is easy to obtain and install.
The interface of the trading robot is easy to navigate and it is well laid out, making it easy for beginners to understand it.

 

Pros and Cons

✔️Pros

❌ Cons

The trading robot can be downloaded for free Results cannot be compared to that of previous results
Most currency pairs are supported The great difficulty in back-testing or forward-testing the robot
Traders can program their own entries to refine their results Difficulty in setting up stop loss

 

Hamster Scalping Trading Robot

 

Overview

Hamster Scalping is an Expert Advisor, more commonly referred to as EA, which was developed by Ramil Minniakhmetov and as opposed to other trading robots that work according to a subscription basis, Hamster Scalper allows for a one-time purchase.

 

This Forex trading robot filters entries using the ATR-based filter along with the RSI indicator. It uses a trend finding indicator called ‘Black Dragon’ to find and pinpoint trends to follow and in addition, makes use of a scalping-based strategy.

 

Features

Hamster Scalping can be bought for $30 and it has 5 activations.
There is a demo version that can be tested before making a purchase to test the trading robot.
It can be configured to trade numerous currency pairs.

 

Pros and Cons

✔️Pros ❌ Cons
Demo account offered The initial cost is higher than others
Stop-loss order offered
Competitive purchase price of $30

 

Odin Forex Robot

 

Overview

The Odin Forex Robot is ForexRobotTrader.com’s most popular Forex robot and it is fully automated, has optimization settings, a broker shield, easy setup instructions, and a grid trading strategy.

 

The strategy makes use of real-time analysis to distinguish the most effective entry and exit points without any latency or lag which allows the robot to dominate charts as each price movement has smaller movements inside it.

 

These patterns are taken and analyzed by the robot for future use in profitability which results in more accurate trades without indicator lag.

 

Features

The cost indicated for the Odin bot is $199.
The developer claims that the entry and exit points are perfect.
The grid trading rules are coded directly into Odin which exempts traders from having to study charts manually.
The market is monitored 24/5 by Odin and allows the robot to trade without any input from the trader.

 

Pros and Cons

✔️Pros ❌ Cons
Makes use of a grid strategy High purchase fee of $199
Accurate stop loss and take profit Brokers indicate more losses than profit with this bot
Profit can be locked in despite price movements Customer support is not rated the best
The grid rules are coded into the bot
24/5 automatic trading

 

Vader Forex Robot

 

Overview

The Vader robot was developed by ForexRobotTrader and it has default settings for around 20 Forex pairs. In working according to the Advanced Fibonacci Strategy, the bot takes risks and trades the price as it moves away from the middle zone as well as when it moves back.

Vader bot forms a well-designed Forex strategy by uniting trend shifts with the Fibonacci thresholds and by enhancing the money management system through taking profit and stop loss patterns, the trader does not lose more capital than allowed by the set parameters.

 

Features

The Vader Forex robot can be purchased for $100.
A money management system that makes use of stop loss and takes a profit.
Fibonacci levels are used to determine the support and resistance levels.
The Vader Forex bot can be used by beginners and professionals and works best on MetaTrader 4.

 

Pros and Cons

✔️Pros ❌ Cons
Works on MetaTrader 4 High purchase fee
100% automated Only two payment options
24/7 customer support Only 20 Forex pairs offered
Broker protection offered Verified trading results not available
Money-management technology

 

Ganon Forex Robot

 

Overview

The Ganon Forex Robot is a trading robot that uses an exclusive Strand Theory which finds the healthiest trend trades and eliminates the fake outs. This theory has been developed over the past six years and is the best in finding incredible trend signals.

 

The Ganon bot is set to detect intentional price manipulations and fake outs to stay ahead of the broker through which the trader facilitates trades. The Ganon bot has two modes of operation namely a hyper mode and a normal mode.

 

While the hyper mode provides more trades, the normal mode focuses on larger trades. The Ganon bot operates 24 hours a day and has a trailing stop feature built-in which helps secure profits as the trade progresses.

 

Features

The Ganon Trading robot can be purchased for $99.
The strategy applied with this bot is the Strand Theory.
There are numerous pairs that are traded including GBP/AUD, EUR/GBP, GBP/USD, USD/JPY, and numerous others.

 

Pros and Cons

✔️Pros ❌ Cons
Quick download and installation High purchase price
Compatible with all account sizes Timeframes supported not disclosed by the vendor
The system is automatically set to each currency pair Only two modes of operation
Variety of currency pairs offered

 

Forex Gump EA

 

Overview

Forex Gump EA is claimed to be a very profitable and fully automated Forex Expert Advisor which can be utilized by both beginner and professional traders. This trading algorithm has taken years to develop and is currently one of the best solutions in the market.

 

This bot is designed to deliver high returns and it incorporates neural networks and deep learning while running on the MetaTrader 4 trading platform where it places, manages, and closes trades according to several trading indicators and filters.

 

Features

Incorporates neural networks and deep learning.
Works best on MetaTrader 4.
The Forex Gump EA is claimed to have a high win rate on AUD/USD, EUR/CHG, EUR/GBP, EUR/JPY, EUR/USD, and numerous others when running on a 1-minute timeframe
There are two different packages namely the Standard package with one real and one demo account for €199 and the Premium package with three real and unlimited demo accounts for €399.

 

Pros and Cons

✔️Pros ❌ Cons
The trading robot has been tested on a live account High purchase price
The trading robot is currently the best in the market The standard package only has one real and one demo account
Designed to deliver high returns
Works on MetaTrader 4
Developed by an expert team of traders

 

Forex Diamond EA

 

Overview

Forex Diamond EA is a Forex trading robot that supports both MetaTrader 4 and MetaTrader 5 and was created to work with GBP/USD, EUR/USD, USD/CHF, and USD/JPY although it can be applied to other currency pairs as well.

 

The trading bot combines countertrend and trend strategies, configurations, and dynamic trading parameters as well. The bot also caters to smart money management as well as quick trade execution.

 

Features

The trading bot relies on three market domination strategies to deliver positive results namely the Trend-Retrace Signal Strategy, the Countertrend Strategy, and the Countertrend Scalping Strategy.
When using Forex Diamond EA traders can apply either one, two, or all three of the strategies.
Traders can trade with small amounts of capital from $100 to $500 but the vendors suggest deposits of at least $1,000 to $5,000 or traders may face trade limitations.
The Forex Diamond EA is set at a purchase price of $297.

 

Pros and Cons

✔️Pros ❌ Cons
19 years’ backtesting data available High purchase price of $297
24/7 customer support Customer support cannot be reached via email or telephone, only via a contact form
Free updates when purchased
Recovery factor over 40
Single one-time fee

 

Forex Cyborg

 

Overview

The Forex Cyborg is a trading robot that is designed and aimed at professional traders. It works with the popular MetaTrader 4 trading platform and when implemented through the MetaTrader 4 EA function, claims to produce a win rate of approximately 77%.

 

Traders have the option of trading 18 currency pairs on 15-minute charts and the trading robot works seamlessly on both the desktop and the mobile versions of MetaTrader 4.

 

Features

Traders have the option of purchasing the Gold package which is priced at €499.99 and the Premium package which costs €599.99.
The Forex Cyborg can be applied to a total of three MetaTrader 4 accounts.
The trading bot supports up to 18 simultaneous currency pairs.
Although aimed at professionals, the design is suitable for traders of any trading level.

 

Pros and Cons

✔️Pros ❌ Cons
Fully automated There is no free trial offered
Value for money despite high purchase fee High purchase amounts for both the Gold and Premium package
A premium package can be applied to multiple trading accounts The bot may not operate on minor or exotic Forex pairs
Aimed at professional traders
Easily accessible and user-friendly

 

CryptoRocket

 

Overview

CryptoRocket is an online trading broker which offers traders around the world the opportunity to trade leveraged Forex and cryptocurrency financial instruments through the provision of competitive trading conditions.

Traders can trade such financial instruments, along with others, with leverage of up to 1:500 and traders have access to deep liquidity and superb 24/7 customer support.

 

Features

Cryptocurrency and Forex trading, amidst other financial instruments, offered at a leverage of 1:500
Traders can trade through this broker with a minimum deposit that starts from $10.
The minimum lot size required is merely 0.01 lots.
Traders can expect to pay commission charges of around $6 per 1.0 lot
Trades can be executed using the popular MetaTrader 5

 

Pros and Cons

✔️Pros ❌ Cons
More than 30 cryptocurrency pairs to trade Offshore broker
Flexible leverage MetaTrader 5 not offered
24/7 customer support
No account, deposit, or withdrawal fees
Competitive trading conditions

 

Flex EA

 

Overview

Flex EA is a fully automated trading robot that finds the most likely trend direction over a span of two days and opens needed orders at a specified time. The signal calculations are based on indicators and this system has a win rate of over 90%.

The trading bot uses a newly developed innovative technology known as virtual trades which are opened in the background while the bot monitors the Forex market in the foreground to find the perfect entry point, when this is found, real trades are opened.

 

Features

There are two packages that traders can purchase, the Forex Flex EA at $999, and correlated Hedge EA along with Forex Flex EA for $1,500.
There is an automatic update system that requires no input or prompt from the trader.
There are 12 selectable trading strategies that traders can profit from.

 

Pros and Cons

✔️Pros ❌ Cons
More than 90% rate of winning trades Extremely high purchase price of between $999 and $1,500
Fully automated and includes automated updates
Access to 12 different strategies
Makes use of virtual trades while monitoring the FX market for perfect entry points

 

FX Delta

 

Overview

FX Delta is a Forex trading robot that was launched in 2016 and is one of the most reputable forex robots in the industry. The system caters to traders despite their level of trading experience and can be used on its own or along with other trading strategies.

The trading bot scans trends over a long period of time using long timeframes and it also searches for corrections on short timeframes. FX Delta relies on momentum, volume, and price action to identify trends.

 

Features

Although there is no set minimum deposit, traders are advised to have an account balance of $500 to $1,000 for the best results.
The entire package has a value of $997.
The bot works in two phases to identify strong trends from weaker ones.

 

Pros and Cons

✔️Pros ❌ Cons
45-day money-back guarantee High purchase price
Back-testing data available Limited customization
Available for free with some brokers
One-time fee
No minimum deposit

 

StrategyQuant

 

Overview

This is a powerful platform that allows for the development of traders’ own automated strategies, trading algorithms, and auto trading systems. It can be used to either create a strategy, algorithm, or system from new or to alter an existing EA using custom rules.

StrategyQuant is fully compatible with MetaTrader 4, MetaTrader 5, TradeStation, and Multicharts.

 

Features

Ability to create or alter EAs.
Strategies can be back-tested by the Strategy Quant software.
The starter package is priced at $1,290, professional at $1,490, and ultimate at $4,900.

 

Pros and Cons

✔️Pros ❌ Cons
User-friendly and intuitive Expensive pricing
14-day trial before purchase Source codes not compatible with all trading platforms
Great video trading guide
Value for money

 

GPS Forex Robot 3

 

Overview

This trading bot allows traders to legitimately automate their Forex trading while still making a profit. This system was developed by Mark Larsen and it makes over 30% of monthly profits.

This trading bot uses trend and hedging, and the default setting is for a variety of currency pairs. The trading bot is compatible with use on the MetaTrader 4 trading platform and traders can use the demo account provided before trading live.

 

Features

Recommended pairs include EUR/USD, GBP/USD, USD/CHF, and EUR/GBP with low spread pairs.
The timeframe recommended for use with the bot does not matter.
The maximum leverage offered is 1:200.
The recommended account balance is $100 and more.

 

Pros and Cons

✔️Pros ❌ Cons
Adequate leverage offered Lower profit delivery than other bots
Compatible with MetaTrader 4 Default setting limits currency pairs to four.
Variety of currency pairs supported
No specific timeframe required
Low one-time payment of $149

 

Forex Astrobot

 

Overview

Forex Astrobot is fully automated and it analyses the market for trading opportunities then subsequently places or manages trades according to its built-in algorithm which consists of a combination of technical indicators.

The bot has money management, trailing stop, and maximum slippage features which are built-in, and the bot runs on the M15, M30, and H1 timeframes, and can run on all currency pairs.

 

Features

Traders can adjust their own trading requirements.
Demo account option provided.
Step-by-step instructions included along with full support and free updates

 

Pros and Cons

✔️Pros ❌ Cons
Money-back guarantee There is no backtesting data available
Demo account available Live trading not verified
All currency pairs supported
Customization and optimization can be done

 

Onyx Scalper

 

Overview

Developed by Karl Dittmann, the Onyx Scalper is an indicator that is intended for scalping and it is suitable for traders despite their level of trading experience or knowledge. This forex trading system provides traders with the full benefits of trading.

It is a powerful algorithm that is equipped with an optimal access system that allows traders to make transactions and it is designed for M1, M5, and M15 timeframes.

 

Features

Onyx Scalper is a self-correcting adaptive algorithm that determines the exact entry and exit time of a trade.
Strong support provided to all major currencies

 

Pros and Cons

✔️Pros ❌ Cons
Works on different timeframes for all currency pairs The system needs a decent, strong internet connection
Reliable system
Provides useful tips and is designed for all traders
Money-back guarantee provided

 

Econ Power Trader

 

Overview

This trading bot is an automated trading system that can place trades and manage them on behalf of the trader by taking advantage of large spikes which are present in the market when Forex news is released.

Traders are advised to make use of an ECN broker when utilizing this trading bot to increase the chance of success. The bot makes use of adaptive intelligent trading technology, or AINTT, and provides traders with a favorable risk to reward ratio.

 

Features

Traders can choose between a 1-year license for $297 or a lifetime license for $497.
Traders can instantly download this software after the purchase.
Traders have access to software updates, a detailed menu, the best settings, and recommendations.
There is a 30-day trial before traders make the purchase and a refund guarantee.
The vendor claims a profit of more than 100 pips at a time and losses of not more than 15 to 20 pips.

 

Pros and Cons

✔️Pros ❌ Cons
30-day trial and money-back guarantee Live results are not available
Average purchase fee when compared to other bots No history or data pertaining to backtesting
Double trailing stop protection No grid, martingale, cost averaging, or leverage

 

Gold Elevate EA

 

Overview

Gold Elevate EA is a powerful and fully automated Expert Advisor or EA which offers traders reliability, dependability as well as high effectiveness in addition to being one of the most sophisticated Forex trading robots on the market.

 

Features

The optimization of the bot is constantly monitored by a team of engineers.
It is successfully used by professional traders.
There are three different packages to choose from namely Basic, for $179, Advanced for $249, and Ultimate for $499.
This trading bot works best in the H1 timeframe.

 

Pros and Cons

✔️Pros

❌ Cons

Live account trading results are available Only works with XAU/USD
Developed by expert traders The live trading results show negative growth.
Designed for non-stop trading Maximum 4 real and 4 demo accounts available on the Ultimate package
Instantly downloadable and usable
Compatible with MetaTrader 4

 

Forex Kore EA

 

Overview

The Forex Kore EA is a powerful, profitable, and fully automated Forex trading robot that was developed for professional traders. This bot offers a fully automated trading strategy that is designed to deliver high returns.

This bot incorporates neural networks along with deep learning obtained from the MetaTrader 4 trading platform which allows the bot to not only place but manage and close trades on behalf of the trader.

 

Features

The developer claims that the trading robot has a high win rate on 9 currency pairs.
The trading bot offers a great reward to risk ratio.
There are four different packages with their own respective pricing which starts from $129 up to $299.

 

Pros and Cons

✔️Pros ❌ Cons
Demo account provided Only one timeframe which is compatible
Variety of currency pairs supported Only compatible with MetaTrader 4
Average purchase price Live account trading result shows substantial negative growth
Free updates and support Only one real and one demo account on the starter package

 

Forex Robotron

 

Overview

Forex Robotron is a Forex trading robot that is designed to work with MetaTrader 4 and can be used with hundreds of popular ECN and/or STP brokers which makes it suitable for both beginner and professional users.

The trading bot provides tight stop loss parameters which set it apart from its competitors and provides traders with additional peace of mind.

 

Features

This trading robot works the best in an environment with low spreads, low commissions, fast executions, and no limitations on stops.
The bot is compatible with a variety of currency pairs and works on M5 charts.
The program runs 24-hours a day but only opens new trades between 21H00 and 22H00 GMT in the summer months and between 22H00 and 23H00 GMT in the winter months.

 

Pros and Cons

✔️Pros ❌ Cons
Works with a great variety of STP/ECN brokers Only works on M5 timeframes
Works with MetaTrader 4 New trades are only opened at certain hours during the summer and winter
Live trading has been tested High purchase amount on the Premium package which provides full features
Tight stop loss
Supports a variety of currencies

 

Forex Sugar

 

Overview

Forex Sugar is a Forex trading robot that is optimized and automated to help traders make a profit and uses a decision-making system that is based on calculations and indicators.

The strategy of the bot consists of a baseline news trading strategy combined with technical indicators. The bot receives signals from these indicators that help it open positions exclusively in stable market conditions by utilizing the news and avoiding volatility.

 

Features

Forex Sugar can only be used to harness low volatility market conditions.
Traders can expect to pay between $299 and $799.

 

Pros and Cons

✔️Pros ❌ Cons
Used to filter news and trade during low volatility Only compatible with XAU/USD
Live trading has been done with this bot and shows positive average win rates High purchase amount

 

FAQ’s

 

What is Forex Trading Robots?

They are trading robots that consist of mathematical formulas and are computer software programs that trade on behalf of the trader according to certain rules, criteria, or parameters that are set by the trader or according to technical indicators.

They serve the purpose of opening, managing, and closing trades without the input of the trader and can run 24/7 depending on the bot, the market, and the preferences of the trader.

 

Do Forex Trading Robots work?

Yes, there are live trading results that indicate that they work but it is difficult to ascertain the legitimacy of these results.

 

Are Forex Trading Robots legal?

Yes.

 

What is the average cost of a Forex Trading Robot?

Some trading robots may be downloaded for free, especially when utilizing either Metatrader 4 or Metatrader 5. There are differing price brackets which may start from as little as $10 and go up to $5,000 or more.

 

Are Forex Trading Robots safe?

They are safe to use, but there is a risk when choosing a Forex Trading Robot as it may be a scam used by internet users with malicious intent to gain access to the sensitive information of traders.

Only verified trading robots from reputable vendors and developers must be used.

 

Author Details

Louis Schoeman

Louis Schoeman

Featured Forex and Stocks writer

Table of Contents

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