Forex Robots Automate Your Trading Forex Robot Included

Forex robot: the best profitable free forex robots of 2021

Forex robot is a term that refers to a robot that operates in forex. In other words, an automated manager of the operations carried out in the foreign exchange market. This robot or automations can advise and manage money .

This type of automation of a free forex robot is possible thanks to the programming in code format of a team of investors or a private investor. In this way, the forex robot works as a financial advisor.

Have you heard of stock market returns and automations but are you new to this? In this guide we are going to explain what a forex robot is, how a free forex robot works, which is the best forex robot and how to open an account. We will also clarify if the forex robot is a scam and how to be successful trading with a forex robot .

Reddit Forex Robot: best for 2021

r/makemoneyforexreddit - Reddit Forex Robot - Top 10 for Trading

In this section we are going to mention the best forex robots for 2021:

  • Yuan Pay Group: Trade commission-free with a leverage of up to 1: 500

  • Learn2trade: The Best Forex Robot

  • ForexFury: Compatible with Myfxbook, Metatrader 4 and Metatrader 5

  • Forex Steam 10: configure and customize your forex robot to the maximum

  • Algo Signals: Generate 2% daily profit

  • Binary Strategy Forex Robot: Trade MT4 with Binary Options

  • Forex Astrobot: Forex Robot with 24/7 Customer Support

  • Robomaster EU: 3 Forex Robots in One

  • 1000pip climber system: The easiest to use Forex robot

>>>What broker to choose? Read my eToro Review<<<

What is a forex robot or forex robot?

A Forex robot is an expert financial advisor that allows the automation of analysis processes when operating in the currency market. This enables automated wealth management through the use of complex algorithms and codes to minimize human intervention.

To begin, it is necessary to understand that the forex robot is a software that has to be downloaded and then installed in the analysis tool that you use and that allows automation such as the MT4 forex robot for example. Another important aspect to keep in mind is that forex robots are a tool for trading.

In order to be profitable, the free forex robot can automatically open and close trades based on previous considerations the investor has indicated. Depending on the type of forex robot, there may be more or less customization.

The Forex robot makes its decisions based on trading signals and technical analysis of patterns experienced by currency patterns. The creator of the forex robot has written the catch of how he has to react in each situation, therefore, the programmers are experts or are advised by forex experts.

How does a forex robot work?

forex robotThe operation of a forex robot is similar to a robo advisor because both are programs that work through the code of a programmer. To begin with, there needs to be compatibility with the trading tool that the investor uses, since forex robots can be programmed for specific platforms and with different programming languages.

Once we know this, the forex robot needs a series of inputs and conditions that must be provided by the investor to operate automatically when these situations occur. It is very important to be clear that the forex robot does not work alone, it simply executes operations that respond to a series of patterns that the investor has previously specified.

For example, let’s imagine that we choose the USD / JPY pair to trade. The steps to follow in a simplified way to specify the operation of a forex robot are:

  • Choose a technical indicator to look at, for example a moving average in groups of 50 in 1 min steps. For simplicity, let’s call it X.

  • Choose another indicator (Y) related to which to cross X

  • The forex robot will look for the first condition (X) to be fulfilled, to later make sure that Y is fulfilled.

  • If X and Y are met, the forex robot will open a position in Forex

  • When the operation is closed, a similar process occurs but with other forex indications. It is important to mention that despite the apparent complexity, the way the user enters this information in the forex robot is simple thanks to the previous coding of the programmer.

So that the Forex Robot does not have to meet only 2 premises, the number of premises may be higher, simply that there will be fewer opportunities, since it will be more complicated for so many conditions to be met

What is the best profitable forex robot? Comparison of the 10 best Forex robots

Now that you know a little more about what forex robots are and how they work, you may have seen the potential of investing with some of them.

>>>For the best two Forex trading systems I wrote a separate review:
Trade Juice and Forex Trendy (check out here)

I am going to see a comparison of the best forex robots in 2021:

Read:  Forex Trading Vs Stock Trading Which Is More Profitable

Yuan Pay Group: Trade with a leverage of up to 1: 500 without commissions

r/makemoneyforexreddit - Reddit Forex Robot - Top 10 for Trading

It is the only company in the market authorized to distribute one Yuan digitally. He has 10 years of experiences in the cryptocurrency market. It has a possibility of leverage of up to 1: 500. Allows you to invest in digital currencies.

It has the Webtrader platform for trading and the MT4 forex robot installation is also available . It is a broker without commissions for operations and requires profile verification to start trading.

Average Win Rate: Unspecified

Advantages

  • Leverage up to 1: 500

  • Forex MT4 Robot

  • No commissions

  • Intuitive use of the platform

  • Possibility of growth

  • Cryptocurrency trading license

Drawbacks

  • Some information of interest is missing on the Web

  • Design can be confusing

Learn2trade: the best Forex Robot

r/makemoneyforexreddit - Reddit Forex Robot - Top 10 for Trading

learn2tradeIt is a London trading company and one of the leading signal providers in the forex market . Their indications are between 89 and 93% correct . This company is dedicated to the issuance of forex market signals, online trading courses and helps all types of investors. They are experts in risk management and have exceptional customer service.

In addition, this company is so confident in its success rate that it returns money to customers who are not helped by its system in 30 days. More than 2800 people trade this forex robot on a daily basis.

Average Win Rate: 92% Success

Advantages

  • Experts in teaching trading

  • World benchmark in forex market signal analysis

  • Refund of the money in case of not being satisfied with the result

  • Different packages depending on the time you want to use it

  • Excellent customer service

  • Perfect balance of risk management

Drawbacks

  • Community of 2800 people

  • Complexity of use

ForexFury: compatible with Myfxbook, Metatrader 4 and Metatrader 5

r/makemoneyforexreddit - Reddit Forex Robot - Top 10 for Trading

This Forex robot performs daily operations with low risk and a refined strategy. It is available for Metatrader 4 and Metatrader 5 and Myfxbook. It has earnings in the last 15 years of 466% and never exceeds 7 daily operations. It was developing for 5 years until it reached its current state. It also has more than 50 updates to adjust parameters and code.

There are two account options, Gold and Diamond; one costs $230 and the other $440.

Average win rate: 93% success on Myfxbook accounts

Advantages

  • 99% positive customer feedback

  • It has grown 466% in profits in 15 years

  • Compatible with various MT4 and MT5 platforms

  • Trade with low risk

  • Verified Myfxbook accounts

Drawbacks

  • Only two options or packages

  • Maximum of 7 daily operations

Forex Steam 10: configure and customize your forex robot to the maximum

r/makemoneyforexreddit - Reddit Forex Robot - Top 10 for Trading

This forex robot is fully configurable and can be optimized based on the investor’s needs . In addition, this forex robot is safe, since it constantly has people trading with profits. It is important to mention that your results are verified.

The success rate is 75% and has regular free updates. It allows to adjust the risk-reward and avoid the bad operations with a very high margin.

Average win rate: 75%

Advantages

  • Free recurring benefits

  • Simplified pricing structure

  • Variable risk / reward adjustments

Drawbacks

  • It has no variety in the accounts

  • It requires a lot of skill to use due to its high configurability

Algo Signals: generate 2% daily profit

r/makemoneyforexreddit - Reddit Forex Robot - Top 10 for Trading

It is a forex robot that is dedicated to providing signals and indications about currencies and cryptocurrencies . It has an association with authorized brokers that provides greater security to its operations. The company allows you to test with a demo account the 2% of daily earnings that it claims to have.

The profitable forex robot provides a Stop Loss point each time a signal is sent with the idea of ​​not having losses. It has different packs depending on the capital and the currencies to operate, ranging from $ 250 and 3 currency pairs to the $ 1000 VIP plan with all currencies included.

Average profit rate: 2% daily profit

Advantages

  • Demo account available

  • 2% daily earnings

  • Signals in forex and cryptocurrencies

  • Various plans depending on capital

Drawbacks

  • Does not show overall average win rate

  • The minimum quantity is high

Binary Strategy Forex Robot – Trade MT4 with Binary Options

r/makemoneyforexreddit - Reddit Forex Robot - Top 10 for Trading

This profitable forex Robot that operates in binary options and this puts many into caution, since they have suffered fraud in brokers with this type of operations. However, this forex robot uses detailed backtesting techniques in Metatrader 4 and has been tested for years before we started using it.

Average profit rate: between 70 and 95% profit

Advantages

  • Uses Metatrader 4

  • Tested for years

  • The price is low, less than $ 200

Drawbacks

  • Poor accuracy in average gain

  • Myfxbook may not collect your results

>>>For the best two Forex trading systems I wrote a separate review:
Trade Juice and Forex Trendy (check out here)

Forex Astrobot: Forex robot with 24/7 customer support

This is a 100% automated Forex robot created by a famous Forex trader. Metatrader 4 forex robot allows trading in 1 hour, 30 min and 15 min. In addition, it allows you to change the amount of the lot invested when the market is favorable to you.

It offers up to 3 levels of profit making and has incorporated an algorithm to readjust parameters when there is a drastic change in the price of a currency.

Average win rate: up to 80%

Advantages

  • 24/7 customer support

  • Calendar of 15 minutes, 20 and 1 hour.

  • Between $ 100 and $ 230 its final version

  • Allows you to change the amount of lot invested

Drawbacks

  • 3 levels of profit making can become problematic

Robomaster EU: 3 Forex robots in one

r/makemoneyforexreddit - Reddit Forex Robot - Top 10 for Trading

We find a group consisting of 8 indicators and 3 Forex scalping robots . These 3 Forex Robots are Big Fish EA Trade Machine and Rocket EA . On the one hand, it is priced between 100 and 200 euros and each forex robot offers special characteristics. Here we will highlight the most important of the 3.

Depending on the robot, you can trade from 1 pair to 15 currency pairs and the potential profit ranges between 10 and 50%. We also found that the time frames vary between 5M and 15M.

Average Win Rate: Unspecified

Advantages

  • 3 forex robots in 1

  • Many forex strategies included

  • Time frames are 5M or 15M

  • You can trade in different market hours

Drawbacks

  • Does not specify average gain

  • The potency benefit has a very wide range

Climber 1000pip system: the easiest forex robot to use

r/makemoneyforexreddit - Reddit Forex Robot - Top 10 for Trading

It is a Retail Oriented Forex Robot because it is not focused on the complete customization and naturalization of the trading parameters. It is very easy to use , yet it has solid results. On the one hand, it has a cutting-edge algorithm that is periodically updated.

In addition, you can get direct help from the forex robot creator to improve your knowledge of the automation trading platform and improve your long-term performance .

Average Win Rate: Unspecified

Advantages

  • It is very easy to use

  • Thought for

  • 4.7 / 5 rating on Trustpilot

  • Myfxbook Verified Results

Drawbacks

  • For professionals, free configuration is important

  • Does not specify average gain

How to be successful trading a forex robot?

To be a profitable trader with a forex robot even if we want to invest in a forex broker by ourselves, we must take into account a series of aspects to be profitable in forex 2021:

Choose the correct currency pair

invest with forex robotTo start trading forex we must be clear that a forex currency pair reflects the economy of two countries, since the value of one currency is opposed to the other. When choosing currencies, we can decide by technical analysis or by observing pairs in individual currencies. With this second method, we should look for a currency that is in an uptrend against one that is in a downtrend.

This movement interests us because it generates the possibility of the recovery of one of the currencies, which would add value to us. Also, keep in mind that there are currency pairs that are very stable such as EUR / USD, USD / JPY, AUD / USD or NZD / USD and others are more volatile such as GPB / USD or USD / CAD.

Choosing the right margin and leverage

Leverage in forex is a double-edged sword, because if it is not used correctly, we can lose a lot of money. It is important to note that operating with leverage allows us to carry out a greater number of operations, since we are opening a position in the market in which not all the money leaves our account.

For example, in a trade with 1: 500 leverage we invest $ 1 of our capital and in the market we are investing $ 500. The broker asks for a guarantee called margin to operate with leverage . In other words, you must keep a% of the total value of the investment in your account. It is important to be very careful because the volatility of the currency market can make us reach the Stop Loss.

Carefully measure risk per trade

invest forexThis point refers when giving instructions to the forex robot, carefully mark the percentage of the total capital that is included in the operation. By this we mean that if we have an account with $ 100 and we operate with 100% of our capital, we can lose everything if there is a change in the market.

For this reason, it is recommended that traders have a risk management that ranges between 1% and 3% of the total account . However, there are traders who risk up to 5% and some more, with the risk that this entails. In summary, an affordable goal can result in growing 2% to 3% per month.

Correct risk / reward ratio

To understand this concept, we are going to use the concept of Take Profit and Stop Loss. The Take Profit is the price at which we want to close the operation with profit and the Stop Loss is the price at which we would close the operation to minimize losses. Depending on where we place the Take Profit in relation to the Stop Loss, we will obtain a risk / benefit ratio or another.

Read:  Start Forex Trading With 10 Dollars

For example, a trader can obtain a risk / reward ratio of 1: 1, placing both the Take Profit and the Stop Loss 1 pip apart. Others, however, place it in the risk / benefit at 2: 1. If, for example, both traders successfully close half of the trades, the trader who trades with risk / profit 2: 1 ends up with profits and the trader who traded 1: 1 stays the same.

However, it is evident that it requires more technique to finish with a high hit rate in a 2: 1 ratio than in a 1: 1 ratio.

Use a trading strategy that works

invest in forex with robotThis section seems obvious, but there are strategies that statistically have more options to work than others . Inventing a strategy without having tested it for a long time and a multitude of conditions is a risky decision to invest.

Therefore, we must choose a proven strategy and stick with it. There will be weeks that close with losses and others with benefits, but if the long-term strategy gives benefits, we should maintain it and not change it for one that can offer us benefits for a short period of time.

Are forex robots a scam?

Forex robots have both advantages and disadvantages. It is true that it is not advisable to trade using a forex robot if you are a beginner trader because it is a very volatile market. There is an important factor which is the trust you place in the creator of the robot, but forex robots are not a scam . Like any investment, trading has risk and no operation is 100% safe.

The main problem that can present trading with forex robots is the robot you choose. The rate of return is very important. To be profitable in the forex market with automated trading you must have a high success rate.

This can be complicated, since it depends on each robot, adapting to the market a priori seems complicated for a “machine”, however, there are forex robots that achieve it thanks to their complex adaptation algorithms.

For the forex market, there is a rule in which each broker has to present the number of accounts that are losers so that we can know which robots work better or worse. As in the operations of any broker, regulation is going to be a very important factor in placing our trust.

How well to choose a profitable forex robot?

choose forex robotIf you want to choose a perfect forex robot for you, you have to take into account that it will depend on several factors.

First, the broker you work with must have minimum commissions and spreads to generate great profitability with operations . If we operate with a broker with high commissions, even if we achieve positive results with our automated investment, the benefits will be lower.

Second, it is important to choose a forex robot that uses strategies with which we feel comfortable, since there are automations with moving averages, others based on general market patterns or even news. The indicators that forex robots take into account to enter or exit the market are an essential aspect to correctly choose a forex robot.

Lastly, the size of your account. In the same way that it happens when investing money in a CFD broker without using a forex robot, some brokers are designed for very large capital investments and others for small capital investments.

For example, in brokers like eToro from $50 you can already make investments. However, there is another type of them that even investments of over $1,000 do not offer similar conditions to these brokers.

Conclusion: What is the best forex robot?

In this guide we have clarified the information on what is a forex robot , how it works and how to be successful with a forex robot.

In addition, we have seen a comparison of the 10 best forex robots and how well to choose a forex robot. We have also answered the question whether forex robots are a scam, clearly answering no.

Finally, we have seen how to open an account with a forex robot and we have enhanced it with Yuan Pay Group. This broker allows us to trade without commissions, the analysis tools are advanced, since it has Webtrader and Metatrader 4 for PC in addition to positioning itself as the only company that is authorized in the market to distribute the Yuan digitally. Therefore it has great growth possibilities.

Forex Robots Automate Your Trading Forex Robot Included

Source: https://www.reddit.com/r/makemoneyforexreddit/comments/q5uad6/reddit_forex_robot_top_10_for_trading/

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