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If you still don’t know what forex robots are, they are quite an attraction these days for people who are looking forward to some passive income. Forex robots have always helped traders in earning money via automated trading. While there were shady robots that claimed generating huge gains and profits but couldn’t, there are others that have fulfilled all their promises and claims. If you wish to stay away from the robot scams in the forex trading industry, keep reading.
What to remember while choosing a forex robot
- DEMO ACCOUNT: Before using the robot real-time, it is better to test a robot through a demo account. This also gives you an idea of how the robot works.
- DRAWDOWN: Always prefer low drawdown as this means decline and reduction in capital. If you choose high drawdowns, this will signify high gain and this increases the risks.
- TESTING: Test any expert advisor against variable spread and real slippage. For obtaining desirable results, be available before deciding on the robot.
Best Forex Robots of 2021
RoFx
EA has recently gained momentum as a smart personal forex robot in a short period. RoFx has been developed by software developers in 2009 who helped traders in making huge gains. For newbie traders, this is a perfect robot as it has a beginner-friendly UI. The robot trades with customer funds and you don’t need any leverage for trading with this EA.
Happy Forex
This EA claims to offer you consistent results every time. Once you check their live accounts, you’ll get enough proof. They also have fully verified FX stat results for traders who seem to be interested in expert advising. Its low drawdown and stable profit are the main features of this system. One of the several benefits of this system is grid strategy or reinsurance positions. This robot uses technical analysis for gaining a safe entry into the forex market.
Forex Diamond
This Expert Advisor (EA) is a smart blend of trend and counter-trend strategies. These are a great combination of fast execution of trades and smart money management. The best features of this EA includes dynamic trading logic, self-algorithm, high slippage protection, high-frequency trading and high-spread protection.
Premium FX Bot
This is yet another automated forex trading robot for MetaTrader platform that has been already tested through a live account. This specific automated forex robot works through an MT4 account. The three different packages offered to traders include the Basic Package, Standard Package and the Pro Package. This ensures 100% automated trading, demo accounts, lifelong license and free customer care support. There are upgrades available in all of these accounts.
Although there are several robots available in the market, it is vital for you to make sure you choose a robot only after you take into account its live statistics, its performance and several other important factors that are already mentioned above. Steer clear of the risks and challenges of choosing an inappropriate forex robot as that may have a dangerous consequence.
