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How to choose Best Forex Robot to Maximise our Profit

Masroor Alam
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What is a Forex Robot?

A forex robot is computer software – often referred to as an artificially intelligent trading algorithm – that is used to automatically execute forex trades. It independently analyzes the forex market to look for technical patterns that offer opportunities for profitable trading. Then it uses this information to determine the best trade entry and exit points. Forex robots are also called expert advisors if you are using MetaTrader 4 or 5.



Forex robots can help both beginners and experienced foreign exchange traders maximize their return on investment. They eliminate emotional and psychological biases when trading and bring automation to forex trading.

In this guide, we’ll explain everything you need to know about how forex robots work and review the 10 best forex robots for 2022.


Forex robot

The Best Forex Robots Rated by Experts

Here’s a look at the best forex robots for 2022 – read on for detailed reviews!

  • Learn2Trade
  • Forex Fury
  • 1000pip Climber
  • FX Master Bot
  • EA Pros
  • eToro
  • CryptoRocket
  • BinBotPro
  • Premium FX Signals
  • Centobot 
  • Algo Signals 

Note: A forex robot is only as good as the algorithm behind it. Be sure to research the expertise of a robot’s development team, its past performance, and its reliability.

How Forex Robots Work

Forex robots work by monitoring the forex market. They are designed to automatically recognize technical patterns like breakouts, reversals, and momentum that offer trading opportunities. When a pattern is recognized, forex robots will trigger a buy or sell order to enter a position.


Once the movement is completed, forex robots will automatically exit the position for a profit. If the expected price movement doesn’t happen or the trade goes against you, the robot will use a stop loss to automatically limit the consequences of the trade.

Forex robots are a lot like forex signals, with the main difference being that they trade automatically on your behalf. Whereas it’s up to you to decide which signals to trade on and which to ignore, forex robots will trade on every signal they detect.


What are the Pros and Cons of Using a Forex Robot?


Pros

  • Speedy market analysis and order processing
  • Helps you eliminate emotional and psychological biases from a trade
  • Can be used for backtesting different strategies before deciding on the best
  • Forex robots can monitor and trade multiple currency pairs and trading accounts simultaneously more effectively
  • A forex robot is immune to such human limitations as exhaustion and fatigue

Cons


  • Trading forex with a robot is a high-risk activity
  • Some forex robots can be quite expensive and complicated to work with
  • There are many scams or poor-performing forex robots
  • Most forex robots require you to be connected to the internet 24/7 for trades to be executed


Cost and maximum profit range of forex robots

  • Learn2Trade - 90% Make up to $500 per day | Price 499 USD lifetime free
  • Forex Fury - 60% Make up to $200 per day | Price 99 USD lifetime free
  • 1000pip Climber - 95% Make up to $2500 per day | Price 2499 USD lifetime free
  • FX Master Bot - 99% Make up to $6500 per day | Price 4499 USD lifetime free
  • EA Pros - 80% Make up to $100 per day | Price 299 USD lifetime free
  • eToro - 70% Make up to $50 per day | Price 99 USD lifetime free
  • CryptoRocket - 50% Make up to $20 per day | Price 9 USD lifetime free
  • BinBotPro - 99% Make up to $7500 per day | Price 5499 USD lifetime free
  • Premium FX Signals - NA
  • Centobot  - NA
  • Algo Signals - NA

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