Forex expert advisors, or forex bots, are a groundbreaking development in the world of forex trading. Besides saving traders time and effort while trading, forex bots have enabled novice traders to participate in the foreign exchange market.
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Forex expert advisers are computer-based tools that enable traders in the forex market to automate trading activities. Notably, all of these bots function on MetaTrader and other trading platforms like 101investing. These bots leverage complex algorithms to track and analyze trade positions. In particular, the forex bots conduct a thorough analysis of the market after which they open or exit trade positions. Ultimately, the point is to ensure that every action and decision that the forex expert advisor takes results in profit for the trader.
Ideally, forex robots enable traders to achieve profits easier than they would without them. The primary function of a forex bot, therefore, is to initiate and to close trades in a way that the trader will earn a positive return.
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In compiling a list of the best forex bots as we head into 2020, we considered a number of properties. First, a good bot has reliable execution speeds to avoid missed opportunities and maximize returns. Secondly, the best bot can handle several currency pairs to capitalize on favorable movements. Third, best bots are secure, guaranteeing the safety of the users’ accounts. Other properties that we considered include trade accuracy and general reliability.
Below are arguably the best forex bots heading into 2020.
RoFX: Forex Finest
The forex market is full of swindlers and finding a genuine service is not easy. However, a detailed RoFX review tells you that you can never go wrong with this forex robot. RoFX performs better than expert traders do. As such, you are assured of a comfortable margin, whether you are a newbie or an expert.
Additionally, RoFX stands out as one of the leaders in terms of automating trades. This bot is the brainchild of experienced software developers and traders. The forex expert uses artificial intelligence to study and analyze the forex market to provide reliable trading opportunities.
The use of artificial intelligence allows the forex robot to execute trades automatically.
This expert advisor also uses neural networks to execute trades profitably and ensure continuous improvement. A user-friendly interface means anyone, even those with limited trading experience, can leverage RoFX to generate consistent profits.
Learn2trade
With Learn2Trade, a trader is likely to experience up to a 93% success rate in terms of consistently profitable trading. Just like RoFX, Learn2Trade is reliable, providing forex signals. In addition, the bot comes with trading courses through which traders can hone their individual skills.
Similar to RoFX, Learn2Trade communicates with the trader via Telegram, providing signals and any other information that might be of relevance. Further, you have the option of getting your money back if the system fails to live up to your expectations in 30 days.
BinBotPro
BinBotPro is an automated FX trading system that leverages artificial intelligence to offer signals to forex traders. In addition to signals, the bot analyzes the market, offers insights from extensive market research and uses insights to anticipate price movements in the market.
This bot performs similar functions to RoFX, like determining when to enter and exit trade positions. Further, BinBotPro makes it easy for traders to earn profits from binary options. Like RoFX, BinBotPro enables traders to earn close to 200% in returns from their investments.
Odin Forex Robot
This bot ranks among the best. Odin Forex robot leverages a trading strategy including take profit and a tight stop loss. This achieves two objectives. First, the user earns profit from every trade, no matter the size. Second, the trader’s account remains safe from a margin call.
Additionally, Odin protects traders’ accounts from snooping activities by forex traders. Particularly, forex brokers cannot hunt the stop levels of the user’s account to undermine the trade position. Similar to RoFX, the bot supports more than 22 currency pairs.
FXSignals
When it comes to accurate market analysis and credible signals, FXSignals and RoFX are your go-to systems. Interestingly, traders can leverage signals from the bot whether they are trading automatically or manually.
Due to the accuracy of the signals the bot provides, traders can enter or exit positions without suffering losses. This is especially helpful in a fast-moving market. Additionally, this tool leverages stop loss and other mechanisms to ensure that the trade’s exposure to risk is at the bare minimum.
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Most importantly, FXSignals is easy to use. Together with RoFX, the bot tops the market as the best choice for traders whose knowledge of the forex market is scant.
Vader Forex Robot
This forex robot comes loaded with more than 30 features through which users can generate numerous trading strategies. In addition, Vader utilizes the Gryphon Trading Engine to enhance the profit margin that one earns from a successful trade.
Further, users can leverage the Fibonacci strategy to time the market in the most accurate way. With this bot, users have access to more than 20 currency pairs.
Big Breakout EA
All trading bots discussed above leverage complex algorithms, but not the way Big Breakout EA does. Unlike the other bots, Big Breakout EA utilizes an algorithm that is dynamic. It adapts to the different movements within the market.
Similar to RoFX, Big Breakout EA is ideal for close monitoring of the market. It tracks the resistance and support levels of the particular currency pairs. Therefore, it can initiate or close trade positions in the most profitable manner.
Additionally, this trading bot follows a tight stop loss tradition such that the chances of a margin call are almost insignificant. To ensure that the user maximizes profits, the bot uses a trailing stop-loss order. It offers support to multiple currency pairs and works with all lot sizes.
So, there you have it. These top-functioning forex bots are available for your market trading needs. Use them to their fullest and your market returns are sure to benefit.