The modern Forex market is considered as a land of opportunity for traders if they play their cards right. The introduction of fx expert advisors in the market has seen a massive influx of small to medium scale traders from around the world. Beginners need to be careful and consider some of the top forex robots list which will help them make informed decisions.
In layman’s terms, Forex robots refer to specific automated trading software that generates trading signals and executes trades on the trader’s behalf. Because of the expansion of internet connectivity, forex trading is now more accessible than ever. Forex Robots are a preference for many novice traders for their profit generation potential.
As the market is filled with Forex robots from various developers and firms, selecting one becomes quite complicated. So, here is a brief comparison of the best forex robots are mentioned in brief below.
1. ROFX: ROFX is a simple to use, AI-powered forex robot, which does not require any additional download. This robot presents some of the most useful features available such as Payment flexibility, which includes Bitcoin support alongside the normal EUR and USD. Other features include a money-back guarantee plan, as well as guaranteed complete coverage for losses. This is because the company has reserve funds which cover negative trades and losses. Taking a look at some of the ROFX reviews available online prove that ROFX has a very satisfactory track record.
2. Forex Diamond: Forex Diamond is a highly sophisticated Forex robot, developed by the Technocrats.
Some of the standout features in Forex Diamond include:
- Automation: Forex diamond provides automation, something which lets traders automatically identify trading opportunities by continuously scanning the market.
- Pulse-Reader: Forex Diamond provides real-time information about the volatility and stability of the general Forex market, allowing traders to make decisions based on reliable data.
- Multiple strategies: Forex Diamond applies several strategies that could be applied in permutation and combination in mere seconds. The system also provides information on which segments of the market to avoid in order to shield the trader from a burnout.
3. Forex Auto Millions: Forex Auto Millions is another popular forex robot that has garnered a multitude of favourable reviews online. According to its own claims, the software has a record of generating high profits and returns. It primarily works with the EUR/USD pair in a 1 Minute timeframe. It also provides 60-Day money-back guarantee for traders. Meta Trader 4 compatibility is another useful feature it provides.
4. Volatility Factor 2: Volatility Factor 2 is another forex robot from a reputed developer. Adding on top of its predecessor Volatility Factor, some new features such as an advanced management system, a unique broken spy module, increased trading frequency and an improved protection system, have been added. With favourable back-testing results and great community reviews, Volatility Factor 2 is certainly one of the robots to look out for.
5. Forex Megadroid: Forex Megadroid is a Forex robot which promises an accuracy of more than 95%. It provides a very practical system of trading and provides a very user-friendly and detailed graph for traders to inspect. The graph differentiates strengths, weaknesses, threats and opportunities, highlighted using different colours and textures. First time users are provided with an installation kit powered by the latest Reverse-Correlated-Time-And-Price-tag-Evaluation (RCTPA) technology, along with a detailed user manual. The specifications highlight all the various software, hardware and internet requirements, allowing traders to set it up in no time.
6. WallStreet Forex Robots 2.0: WallStreet Forex Robots 2.0 is another automated forex trading robot, capable of running on PC, laptop and other compatible devices. It is designed for providing an in-depth analysis of the wallstreet forex market, making it an out-of-box extension for all the Wallstreet theories and formulas generated so far. Some of the modules provided by this robot include an Industry Tracker, a Business Tracker, Broker Spy, profit protection, market tracker and a Forex tracker to name a few. Every module comes with its own user-friendly interface with data tables, statistics, drill-down options, charts, graphs, etc.
Some of the features this robot provides include Risk analysis tools, simulated performance tools, Broker spy module, Trade tracking, Slippage tracking, drill-down feature, Simple user interfaces and a vast range of charts and graphs.
Why Forex Robots are useful?
Forex Robots are preferred by traders because of the range of benefits they provide. It makes trading a less tedious job, allowing traders to automatically set the software to trade on his/her behalf. It removes the influence of human emotions on trading decisions, not deviating from the original trading plan of the trader. Minimum deposits are usually low for almost all forex robots, allowing even more traders to access the forex market that they couldn’t do previously.
Forex robots are extremely popular these days. Traders who are looking forward to making some quick money often start using them without doing much research. Because of an increase in the popularity of forex robots, the instances of scams and frauds have gone up as well. All over the world, hundreds of people have lost plenty of money. Thus, for a novice trader trying to enter the forex market, precaution should be taken while making any decision.
The above forex robots are some of the most used automated trading robots used by the forex community. Apart from the above, there are several forex robots with favourable reviews online. Conducting some proper research before coming to any purchase decision would help select the legitimate ones.