Obviously, the best forex robots are great helpers in opening profitable trades. The variety of Forex trading is due to the presence of many strategies, systems and trading styles that everyone can use. The Forex market accepts traders of any skill level, allowing the use of various tools and working methods. All traders are conventionally divided into two types: those who wish to trade manually and those who successfully use automated Forex trading.
I dedicate this article to automated trading, as one of the most promising and profitable types of work in the Forex market. Automation of trading processes is carried out using special software that can open profitable transactions in automatic mode. Such software are forex robots. I will talk about the best Forex robots that I used myself, their advantages, the advantages of using in general, how much you can earn on Forex robots and a lot of other useful information.
What are trading robots and what are they for?
Forex robots are specialized software that uses FX trading signals to select the optimal time for trading to buy or sell currency pairs. The best forex robots that work around the clock in 24/7, you can buy in the global network. When I first came up with the topic of trading bots, I had a question: “Do they help traders or is this another way of network fraud?”. Looking ahead I will say that Forex robots are a really effective tool for automating the process of making trading decisions, and such decisions are often the best.
Forex trading principles
The main reason why traders connect robots to trading processes is the desire to get easy money with minimal financial and time costs. To maximize profits using Forex robots, you need to choose the optimal currency pair and the right time to trade.
Robots are capable of processing a huge amount of data, which is beyond the power of an ordinary person. Some programs for automating trading processes use special parameters necessary for making the best decisions. By processing trading signals, programs evaluate the current market situation, determine the time points at which transactions can be conducted, as well as those at which it is better not to trade.
The best Forex robots use an extended list of tools to search for profitable deals, even if the market situation is unstable (when the direction of trends is very difficult to determine). These deadlines try to follow the best trend in order to minimize possible losses and extract the greatest profit from each transaction.
The best Forex robots on the market in 2020
Traders are presented with a wide variety of types of trading robots, for example, programs for evaluating profitability in lateral price movements or software that demonstrates its effectiveness in a trending environment. Although traders use software solutions almost everywhere, most often Forex robots act as an auxiliary (albeit very effective) tool for trading. Consider the best forex robots (2020 rating), which deserve the attention of everyone and are able to bring significant benefits to novice traders.
This is a high-quality online service for trading automation, which is compatible with most popular brokerage platforms. Each trader, including myself, noted the versatility of Abi and its effectiveness. The main advantages of this software include:
- The choice between two different options for using the robot: automatic trading or online signals. Forex trader can choose the optimal mode of operation.
- The presence of three systems: classical, algorithms based on the Martingale system, Fibonacci strategy. A trader can choose the optimal system based on his own preferences.
- Over 87% of trade transactions are closed with a profit - a high indicator of efficiency.
To connect the robot, you need to go through a simple registration procedure on the official website of the service, select a trading system among the three above (“Classic” is the best option for beginners and advanced traders), configure signals and select indicators from a wide list of available ones.
Experienced traders using Abi recommend betting on signals and rarely use automated trading. Focusing on signals, the user can analyze the market independently. Although this is rare, but any strategy sooner or later fails, so it will not be superfluous to play it safe.
The figure above shows the amount of profit using Abi for two weeks in automatic mode. As you can see, with its help you can significantly increase your deposit. Although Abi should not be considered as a panacea for any loss, this tool has proven to be very effective and profitable. It is suitable even for beginners in trading - register and try it yourself - it will not take much time.
This service was ranked second in the ranking of “best forex robots,” because it showed less profit than Abi. This is another effective tool for automated trading, which is suitable for those who do not want to learn the basics of market analysis and at the same time receive income from Forex trading. The main focus of the robot is on cryptocurrencies, which, due to their volatility, are very attractive for concluding trade transactions.
To start working with the program, you need to go to the official website of the service, go through a simple registration and choose a platform from a huge list of supported ones. Autocrypto-bot has the following advantages:
- The ability to make forecasts on indicators (this method is chosen by experienced traders).
- The mechanism of automatic transactions with cryptocurrency.
- Simple interface, convenient transaction tracking.
- Detailed statistics and history of transactions.
- The ability to trade 24/7.
The bot offers a wide selection of individual settings: investment volumes, risk level, number of transactions, signals, strategies, digital assets for trading operations. The figure below shows the results of the best trading transactions completed by an experienced trader using Autocrypto-bot with several virtual tokens:
The developers of the bot said that his actions are successful in 85% of cases. Although this indicator is slightly lower than that of Abi, Autocrypto-bot is a very promising tool for automating Forex trading.
Like the programs described above, Daxrobot supports two modes: manual and automatic. In manual mode, Daxrobot displays signals, and the user himself determines the most likely to make a profit. These signals can be ignored or passed to the broker for execution.
Automatic mode is most useful for beginners. In this mode, all transactions are made without the participation of a trader. Daxrobot chooses the best signals for profit on its own. To start using Daxrobot, you need to go to the official website of the service, go through a quick registration and select broker. The user himself decides which mode of operation to use, based on his knowledge and skills.
The figure shows the results of transactions based on signals received from Daxrobot. Profitable trades brought a good profit.
This bot is very similar to Daxrobot. The main difference is that Centobot also supports cryptocurrency trading. Due to the high fluctuations in cryptocurrency quotes, it is able to bring even higher profits. However, Centobot's risk of loss is also significant. For this reason, Centobot is placed in last place in the ranking of the best forex robots.
The screenshot shows the crediting of funds to my Bitcoin wallet. I tested Centobot for 11 days. As you can see, this Centobot can also bring good passive income.
Four reasons to use a trading robot
Forex robots are used by both beginners and experienced traders. I identified four main reasons why they are so popular:
- Simple system. The best forex robots are easily integrated into trading platforms and are supported by most popular brokers. They offer several work algorithms that are easy to configure.
- Time saving. By activating the automatic trading mode, the trader will spend much less time monitoring and analyzing the market, and at the same time make good profit.
- Hard risk management. The risk is present in any operations, even those that seem win-win at first glance. Forex bots use an effective risk management algorithm that minimizes the likelihood of serious losses.
- Feedback. Trading bots analyze the market and inform the user about the presence of the most exit points of entry.
The effectiveness of Forex bots is confirmed by the fact that they are successfully used by tens of thousands of traders around the world.
The advantages of forex robots
Based on the foregoing, we can distinguish several key advantages of automated trading:
- High speed quotes tracking, complex calculations and making optimal decisions. Not a single person is able to analyze such volumes of information that the best Forex robots cope with.
- High accuracy. The software does not make errors related to the human factor.
- The lack of emotions that prevent many traders from making truly profitable trades.
- Working 24/7 - the system does not get tired, which is typical of an ordinary person.
- Scalability and the ability to make fine settings in the program.
Special systems open up new opportunities for experienced traders and beginners with little experience in the Forex market. They provide undeniable advantages over those who prefer to trade manually. Try using any of the robots mentioned in this article to automate trading processes to make sure of their effectiveness first hand.