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Today it is hard to imagine trading on the Forex market without special software for trade assistance (so called Forex robots).
Forex robots, so called expert advisors, belong to the supporting trading programs, but at the same time, their role in trading process is very significant and is increasing.
Forex EAs are very popular due to the fact that their usage allows to decrease the influence of subjective factors as human emotionality, greed.
The types of Forex robots are following :
- Trend advisors;
- Martingale advisors;
- Scalping robots;
- Neuron type robots;
- Grid advisors;
- Trading on News;
- Breakout EAs;
- Advisors of the combined type.
Each type has got its advantages and disadvantages and also features of usage. On top of that, each type of trading robots require different trading conditions. For instance, “Martingales” and “Grid” EAs require a large deposit. They are characterized by a high degree of risk and possible dropdowns.
Types of Forex Trading Robots:
- semi-automated (signal based tools that indicate best conditions for opening and closing trade positions);
- fully automated (opening and closing orders independently following programmed logic).
Each trading platform is completed with a set of free advisors of different types. Free MT4 expert advisors are just easy-to-use programs that are able to output stable trading signals.
Paid forex trading robots are represented as software that able to accomplish trading operations independently. They are notable for a larger profitability and reliability in comparison with free ones.
The table provided above lists the best Forex expert advisors, whose numerous reviews are introduced for your consideration. The rating consists mostly of paid programs.
Leave your review for the best Forex robot in 2015.