Best Forex Robot Tests.
My Best Forex Robot and Expert Advisor testing process is thorough. I take a deep dive into the live and demo accounts of MT4/MT5 compatible products and draw conclusions based on statistical analysis. I provide a full comparison table with trading statistics drawn directly from Myfxbook, and FX Blue accounts.
Best Forex Robot Tests 2023.
Here you can find my personal EA tests , to help you decide which Forex robot is best for you. I am currently testing hundreds of different expert advisors, and I’m always adding more accounts to my servers. The tests are fair , running default robot settings, on the recommended broker. Some of the tests have ended up in blown accounts, which have been abandoned, but these are still available for your perusal.
Each of the robots undergoing testing is fully automated , which means it will enter and exit trades in your account once it’s installed. There are currently 20 robots in testing , leave a comment below if you want to suggest a new robot.
Rank Robot Review Gain Monthly Gain Drawdown Deposit Balance Days Chart.
Note: The stats are updated hourly . We are adding more robots and EA’s regularly, stay tuned!
Best Performing Robots.
100% verified live myfxbook accounts Proven to win on every pair 93% winning percentage Up to 10 trades per day Compatible with all MT4/MT5 brokers Works with all brokers.
15% OFF COUPON: Fury15.
On the market for over 10 years Over 6000 active clients Proven trading results Active support team (fast responses) New trading strategies and updates added regularly MT4/MT5 Compatible with all brokers.
10% OFF COUPON: Steam10.
#1 Ranked BOT Video (Full Review)
Just like the results table, the best Forex robot & EA video is updated every few months. I base these ratings on the data from the table, as well as on current and future performance projections.
Forex Robot FAQs.
What is a Forex robot?
A Forex robot is an automated software built with algorithms and market specific rules that determine trade opportunities. Robots have many settings that allow for clients to set their take profit, stop loss, lot size, trade time and even influence the strategy itself.
How does a Forex robot place a trade?
Robots will place trades in your MT4 or MT5 trading account when it’s connected to your chart and all the settings are set up properly.
How does a Forex expert advisor determine trade strategy?
Most robots or EA’s will utilize indicators and rules that specify when the software will enter trades. Often the simplest strategies outperform the most advanced. The most common indicators used in algorithmic trading are moving averages. Specifically, moving average crosses to determine accurate trade entries.
Do Forex robots really work?
Yes. Forex robots work. That doesn’t mean that all robots are profitable, but if programmed properly they will execute a strategy and place trades in your account. It’s also worth noting that just because a strategy performs well for a certain period of time, doesn’t mean it will always be a winner. The market is always changing.
How much money can I make using a Forex robot?
This really depends on how much you are willing to invest. A really effective robot can make over 10% per month, and if you compound those gains it can add up very quickly. Though, robots that make larger monthly gains are likely risking more to make those gains possible. So make sure to pick robots with lower drawdowns.
What is the best Forex robot?
Forex Fury is currently the best Forex robot in 2022. This is backed by social proof, and verified live trading results. Most robot developers aren’t willing to invest $50,000+ in live trading accounts like Forex Fury does, which says a lot about the project.
What is the worst Forex robot?
Honestly, there are hundreds vying for the worst Forex robot as way too many of these systems hit the market without proper testing. Due to the widespread use, and exorbitant amount of negative complaints, I believe Odin Forex Robot currently holds the title.
Most Important Categories when Picking a Robot.
Our analysis of what makes a best Forex EA or robot is based on 7 important categories . Understanding each of these categories is very important when picking out a robot that you can trust with your account.
Gain – we are only interested in systems that are showing a steady gain in overall account size. Accounts don’t have to reach thousands of percentages in order to qualify, as we are content as long as the accounts are consistent.
Monthly Gain – in terms of monthly profit percentages, anything over 3-5% is acceptable. Many robots will naturally start to produce less and less profit over the years. So, it’s important for us to analyze the gain, the monthly gain, and also the recent history. If a robot produced all of it’s best numbers 5 years ago, then we will often advise against it.
Drawdown – the drawdown is incredibly important because it’s the easiest number to use in order to determine the risk level of a robot. For example, if the drawdown is 65%, this means at one point in time the software had -65% in open trades. This doesn’t mean that it resulted in a loss, but it does mean that in the future the software can potentially hold large losses open. The closer this number gets to 100%, the riskier it is. Generally, the best Forex EAs will have a drawdown below 30%, if not even lower.
Account Length – it’s important to know how long a robot is active. Many robots will arrive on the scene with incredible gains in a single month, and then disappear. In the last few months, we’ve been going through all our expert advisor reviews, removing many Myfxbook accounts that crashed. There were over 50 accounts that came out of the gates with a high-risk approach and lost all of their funds within a few months time. So, it’s imperative that vendors provide multiple accounts, showing both long-term and short-term success. If you purchase a robot on just 30 days of evidence, you are taking a risk.
Risk/Reward Ratio – we always analyze the risk/reward ratio of every expert advisor or robot we test. In doing this, we look at the average win, average loss, best trade, and worst trade all in pips. Obviously, depending on the strategy of the robot, these numbers will vary, so a trader’s personal preference comes into play here. We have no issues with large risk reward ratios, as long as the win rate is very high.
Profit Factor – the profit factor is a number that’s been used in testing robots for many years. Basically, it specifies how many times the sum of all the winning trades exceeds the sum of all the losing trades. If this number is high, you are generally looking at a top performing robot.
Average Trade Length – not as important as many of the other categories, but another great indication of how an expert advisor trades. If you prefer short trades, then you will want to see the average trade length below 24 hours. If you prefer long trades, then you can see this number extended to weeks or even months if you appreciate the long game.
There are more categories and specifications we could go on about, but these 7 we selected are very helpful in in understanding what every trader should be looking for in an automated trading software for MT4 or MT5. We have a similar process breaking down how we analyze each of our reviews too, which can be found in our about us section of the website.
Best Forex Robot Review (Most Recent)
We have reviewed thousands of robots over the years. This review table is comprised of all of these reviews, and can be sorted or filtered for your perusal. To start, all of the robots are sorted by date, so you can see what’s new in the market. While we appreciate the advanced technology that new products provide, that doesn’t mean they are always the best. Often, old expert advisor strategies are more profitable, especially if they are updated frequently.
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Robot Testing Conditions.
All best Forex robot tests are run on a Forex VPS, the Forex Robot Nation team finds that results are much more consistent, and positive when using a Virtual Private Server. This also allows you to turn your computer off when you trade.
If you have not started using a Virtual Private Server for your trading, go to our review page above, get a coupon and read our easy Forex VPS set up guide to find out how easy it is to start.
Forex Robot Trading can be difficult if you don’t have the right product (best Forex robot). As a Forex trader, you need to have the right expert advisor, at the right price, and we offer this with our reviews. Currency Trading is an art, if you want the profits and the pips at a low risk then you need the right software. Here at Forex Robot Nation we do everything in our power to make sure you get access to all of the best automated trading systems.
We are always adapting our reviews and processes as we look for the Best Forex Robot and expert advisors based on current market conditions. So, if you are a a Forex trader interested in Forex robot trading then you need to look at some of top systems we have selected. They are low risk, priced low and are easily accessible, even for new traders.
Conclusion.
Do you need more Best Forex Robot information? Feel free to click on and check out our full expert advisor reviews or go to the official websites of each vendor. We are always looking to discuss these Forex Robots and add new systems that are performing well so send us an email and we can help you find the best forex robot.
There is a lot that goes into our testing process. In the beginning stages of Forex robots, we really never had the same level of technology that we do have now, so there’s been a very positive shift. This makes backtesting very difficult because the majority of popular commercial systems are all relying on live trading data. This makes demo testing and live testing extremely important. The only issue with this approach, is that we need to trade a system for quite some time before we have enough of a sample size to rely on.
Our testing process will only grow more and more complex as the years pass by, but this is a good thing. This allows us to look at many different robot strategy elements and find ways to ensure that the community is only dealing with systems that can securely grow their investments.