Best Forex Robots
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A robot or an expert advisor is a trading software coded to make consistent gains in the financial markets. These automated software samples handle all the hindrances of manual trading, including risk management, psychology, strategy formulation, etc. Based on the coded information within these robots, open buy or sell positions in the market and manage them. Many of such EAs are built for the popular forex trading platform known as MetaTrader. One should always be wary of the get rich quick schemes set up by the robot sellers by checking verified results and other useful factors. They are available for free; however, some begin at a starting price of 20 up to 20,000+ USD. While most expert advisors are designed to trade automatically, some are made to aid you in your executions by adjusting your stop losses or providing signals that can be manually executed.
Our Top Picks For Best Forex Robots:
- TechBerry
- Happy Forex
- 1000pip Climber
- Forex Cyborg
- DynaScalp
- EA Pros
- AutoArb
- Profit Forex Signals
- StrategyQuant X
- QuivoFX
- Forex Flex EA
- Agimat Trading System
1. Techberry
Best Forex Robot 2022
Founded: 2015
Location: –
Investment Risk: Low
Trader’s Level: Any
Backtests:
Verified results:
US Clients:
Free trial:
TechBerry takes its place as one of the first automated social trading platforms that allow subscribers to earn averaging 12% a month. The platform collects trading data from more than 100,000 portfolios using its one-of-a-kind AI technology.
Since 2015, TechBerry has worked in the markets to bring a revolution in social trading. It has beaten every other algorithm and is ranked at the top within the financial industry. The deep learning algorithm scans out all the executions and picks the best amongst them.
TechBerry comes as an easy-to-use algorithmic trading solution that processes data from more than 100k accounts that the Forex community members share. By collecting the best executions, it creates a custom strategy. To enjoy algorithm-driven income, investors can join in using the annual subscription. By subscribing, members get access to a strong side income-generating machine. There is no experience necessary from an investor. Professional trading is possible with the TechBerry community and the data kept under strict security. There is also compensation if there is a drawdown on the portfolio.
By providing TechBerry with your MT 4 or 5 trading data, you can earn a good income in the market. Professional traders can enjoy additional income by sharing their trades with TechBerry. There is no requirement to deposit cash on TechBerry, and there is no testing period. To get the algorithm up and running, traders only have to download it and load the EA on the MT 4 or 5 platform. Based on the incoming data from the account, TechBerry’s AI will create a custom, highly profitable trading strategy.
Big financial institutions can contact the developers and get a personal quote with more significant benefits. TechBerry has support for more than 50 Forex brokers. All of these come under the regulation of top regulators such as CFTC, FCA, CySEC, ASIC, FSA, etc. There are no restrictions on any country, and subscribers worldwide can benefit from TechBerry’s performance.
Pros
- AI-driven trading strategy
- Various options to get profit
- Reimbursement of losses
- Partnership with over 50 reliable brokerages
- Real-time trade monitoring
- Guaranteed trading performance
- Personal account manager
Cons
- Supports only MetaTrader 4 and MetaTrader 5 for data collection
- Traders have to meet high standards to upload their account data
Read more about TechBerry in this review
2. Happy Forex
Excellent Forex Robots Collection
Founded: 2016
Location: Germany
Investment Risk: Medium
Trader’s Level: Any
Backtests:
Verified results:
US Clients:
Demo trading:
Happy Forex is a company based in Germany that has been manufacturing Forex automated trading systems for more than five years. On the official website, you can find the Happy Forex Full Pack containing 10 EAs, as well as four other robots known as Happy Galaxy, Happy Power, Happy Neuron, and Happy Breakout.
Among these robots, Happy Power and Happy Galaxy are the top-performing ones. The first has a win rate of 70% on a verified live trading account on Myfxbook. Happy Galaxy has a 78% win rate and it has been trading in the market for quite some time now. All of the EAs offered by the company are reasonably priced. When you purchase any forex robot from the collection, you get the Happy Forex Full Pack for free. This means you can use 10 different robots while paying for just one. Customers who have already purchased the Full Pack EAs get a 30% discount.
All of the robots on the website are supported by verified trading statistics. They use and combine different strategies like technical analysis, scalping, grid, martingale, neural networks, trend, news trading, etc.
You can purchase the Happy Forex Full Pack EAs for just 299 Euros. For all the robots, the vendor offers a 30-day money-back guarantee. There is no broker limitation and no expiry date. You get a complete user guide in English and 24/7 support provided via AnyDesk, TeamViewer, and Email. On the website, you will find a live economic calendar provided by Investing.com that will help you make better trading decisions.
Pros
- 30-day refund policy
- 100% automated expert advisors
- Verified trading results for each robot
- Parent company highly rated on third-party websites
- Affordable pricing plans and special offer
Cons
- Backtesting results missing for some robots
- High drawdown for some EAs
Read more about Happy Forex in this review
3. 1000pip Climber
Easy-to-use Forex EA For Beginners
Founded: 2016
Location: UK
Investment Risk: Low
Trader’s Level: Any
Backtests
Verified results:
US Clients::
Demo trading:
1000pip Climber is one of the leading Forex trading robots currently available and is consistently rated highly by Forex community members across the net.
Users have been particularly impressed with the performance of the robot across different markets and trading conditions. The algorithm behind the robot is designed to focus on the FX pairs that are currently yielding the best results and then maximize the profit from these FX pairs. This strategy has proven its effectiveness and has resulted in a consistently strong performance.
Although the trading algorithm is complex, the system has been designed to be easy to install and use, even for beginners. The system also comes with a free beginner’s guide to Forex trading.
One of the key advantages of the 1000pip Climber System is the 1-1 support that is provided by the coder of the robot. This additional customer service will be hugely advantageous to a beginner or a trader that is relatively unfamiliar with Forex robots.
This system has firm trading results and unequaled 1-1 tech care. If you are serious about getting the best results from Forex trading, then you should consider the 1000pip Climber robot.
Pros
- Excellent traders’ community ratings.
- High performance – 20,000 pips in 3 years.
- Verified results are available on Myfxbook.
- Quick and easy installation.
- Comes with free beginners guide to Forex trading.
- Full support available from the coder of the robot.
Cons
- Not available for MetaTrader 5.
- No free trial available.
4. Forex Cyborg
Reliable MT4 EA
Founded: 2017
Location: Germany
Investment Risk: Medium
Trader’s Level: Medium
Backtests:
Verified results:
US Clients:
Demo account:
Forex Cyborg is an expert advisor that is compatible with 18 currency pairs. It conducts trades through MT4 after performing advanced technical analysis. It is supported by more than 10 years of historical testing and multiple verified trading accounts on Myfxbook. As such, it is evident that the robot can adapt to different market scenarios.
This EA works with any minimum deposit amount and you can modify the risk and lot size for each order. The backtests have been conducted using real tick data, real spreads, and real slippage. Additionally, the tester used a trade commission in the test to ensure optimum performance. It is a fully-automated system that does not require any manual inputs to operate. For all of the live accounts, the robot has high win rates. You can check the backtesting results for each individual currency pair on the official website.
This system has an in-built money management feature that you can modify as per your requirements. It avoids using risky strategies like arbitrage, hedging, and martingale. You can choose between Normal and Conservative presets, set your own parameters, and manage risks using the currency correlation risk manager.
For a single real-account license, you only need to pay 499.99 Euros, while 599.99 Euros will get you three licenses. Both of the plans come with an unlimited number of demo accounts. The vendor offers free software updates, dedicated support, and a 30-days money-back guarantee.
Pros
- High win rate on all accounts
- Money management and risk-management functionalities
- High-quality backtesting data available for each pair
- 30-days money-back guarantee
Cons
- Relatively high drawdown on some accounts
- Lack of vendor transparency
Read more about Forex Cyborg in this review
5. DynaScalp
Multipair Forex Robot For Scalping
Founded: 2020
Developer: LeapFX
Investment Risk: Medium
Trader’s Level: Any
Backtests:
Verified results:
US Clients:
Demo account:
DynaScalp is a scalping robot sold by the LeapFX team. This team is well-known for building profitable Forex robots like Funnel Trader 2.0, Automic Trader, AX Trader, The Fund Trader, Easy Money X-Ray Robot, Trade Explorer, Bounce Trader, etc. Using this system, you can locate and execute the most lucrative trading opportunities. Since it is 100% automated, you don’t need to exert too much effort.
As per the vendor’s claims, this robot was able to generate more than 500% profit in a short period of time while maintaining a low drawdown. It opens and closes trades on the same day and avoids using risky strategies like martingale and grid. Also, it uses a news filter to take into account the various financial events that affect the price of Forex pairs.
The special scalping strategy employed by this robot is known as asset weight management. Here, the robot assigns more weight to relevant pairs based on the market conditions and reduces the weight of the less relevant ones. By increasing the participation of the relevant pairs, the EA covers the unfavorable periods for other pairs. On the official website, the vendor has shared the backtesting results for each pair conducted for over a decade.
The expert advisor has some advanced filters and it closes all trades before weekends, thus protecting the user’s account from heavy losses. All the settings are pre-installed, and it is a 1005 plug-and-play system. There are two pricing packages for this robot. The first one is a yearly plan that costs $247, while the second one is a lifetime plan available for a one-time fee of $397. For both plans, there is a 30-day money-back guarantee offer.
Pros
- High win rate on live trading account
- Supported by over 10 years of backtesting results
- News filters for better decision making
- Affordable pricing plans
Cons
- Only few user reviews
- Demo account not available
Read more about DynaScalp in this review
6. EA Pros
Free Forex Robot
Founded: 2019
Location: –
Investment Risk: High
Trader’s Level: Advanced
Backtests:
Verified results:
US Clients:
Demo account:
If you are looking for a great, but free forex robot, EA Pros is one of the best possible options. The robot operates on the most popular currency pairs, namely, EUR/USD, GBP/USD, USD/CAD, USD/CHF, EUR/GBP, and on the MetaTrader 4 platform. This robot is constantly being upgraded, and other currency pairs are being tested too. This robot has earned a total of 28,613 pips between 2020 and 2021. It is also worth noting that it works on 5 currency pairs, and so the result is considerably good. EAPros are proud of a profitability level of 71% and a total gain for the entire period of 923.02%. Live results from real accounts can be verified on FX Merge.
EAPros X5 version uses trailing stops to control the account drawdown and maximize profits. The expert advisor works with 1:500 leverage, while 0.01 lots and a 1000$ deposit are recommended minimum requirements for a newcomer’s account.
There is no need to make changes to the robot’s parameters, except in cases when the lots are considerably large. This will surely help in making this automatic system easier to use. Customer service runs from Monday to Friday practically all day long. No returns are offered as the robot is available for free for four brokers.
Overall, EA Pros is a good option for traders looking for a free forex robot, though it has certain limitations.
Pros
- Great support
- Simple and quick installation
- Over 28,000 pips in two years
- Free robot without any fees
- Works on the MetaTrader 4 platform
- Fully automatic system
Cons
- Only available for 4 brokers
- No demo trading available, users can start with a standard account only
7. AutoArb
Arbitrage Trading Robot
Founded: 2020
Developer: LeapFX
Investment Risk: High
Trader’s Level: Medium
Backtests:
Verified results:
US Clients:
Demo account:
An automated robot gives in handy profits working on MetaTrader4/5 and options trading platforms. This vendor provides proof of selling the expert advisor on the website that claims to make huge gains in just over a few minutes. LeapFX promises a risk-free guarantee and profits on every single position. The robot can detect even a tiny difference in data feed amongst fast and slow brokers and uses it to its advantage.
The automated trading software will have to be installed on both the delayed and quick brokers’ MetaTrader platforms. A list is provided by AutoArb, saving you from the trouble of searching for such brokerages yourself.
A user guide is included as you purchase the expert advisors with all the information required for setup. The content is described in a clear and straightforward language so that anyone new to trading can grab it quickly. It also comes with full support and recommendations from the developer to make the robot run at its best.
If you are not satisfied with the trading results, a 30-day money-back guarantee will get you a complete refund. The robot will cost you a handful of 497 USD, but the license is provided for a lifetime.
Pros
- Arbitrage trading robot offers its trading services on a variety of assets, including forex, CFD’s, crypto, options, etc.
- The robot is very quick to spot the latency between brokers.
- It comes with a bonus auto close software that helps in managing trades on your MT4/5.
Cons
- The profits shown in the video on the website are from a demo account, which places a huge question mark on the credibility of EA.
- The price tag of 497 USD is a bit expensive.
- No backtesting is available as AutoArb is an arbitrage trading system.
Read more about AutoArb in this review
8. Profit Forex Signals
Automated Forex Signals with Free VPS
Founded: 2012
Location: USA
Investment Risk: Medium
Trader’s Level: Beginner
Backtests:
Verified results:
US Clients:
Free VPS:
One of the unique forex robot services out there shows satisfactory results proven by a verified site such as Myfxbook. The promises offered by profit-forexsignals.com do amaze one to a considerable extent to buy their services.
They follow their name by saying that they make and build profits offering up to 300 percent return on investment per month. 400 to 10,000 pips are guaranteed from the signal service along with the ability to use a mini account to start trading. The number of pips made every month is detailed in a mannerly order alongside an option to check in the executions dating back ten years.
Pearl package has four professional traders who execute the positions at a 90 percent accuracy. Risk management is maintained on the executions on major pairs, for instance, EUR/USD and GBP/USD, with an average stop loss of 35 pips. Exotics and metal like gold are traded sometimes. The trades are sent via SMS, WhatsApp, Telegram, and email, but the best option is to use the trade copier service that does everything automatically.
Packages start from 49 USD for three months, which offer a 50 percent monthly return and go all the way up to 499 USD averaging the previously mentioned 300 percent ROI. Many payment methods are available on the site, with the perfect one being PayPal.
Pros
- The trade copier service and free VPS offered by the team make the whole process super easy and automated.
- Huge monthly returns are promised by following their automated signal service.
- Various packages are available that start with as low as 49 USD for three months, enough to try out their service.
Cons
- The foundation date mismatches with those found on verified sites such as Inc.com
- An extraordinary claim is made on the website, which states that they don’t lose more than three trades in a row. Their Myfxbook records say otherwise.
- The reviews on Trustpilot are fake and bought from freelancers, and the signals have a substantial negative rating on ForexPeaceArmy.
- For a site that claims to manage millions of dollars, live chat support should be provided 24/7.
Read more about Profit Forex Signals in this review
9. StrategyQuant X
Feature-Packed Forex EA Builder
Founded: 2012
Location: Czech Republic
Investment Risk: Low
Trader’s Level: Advanced
StrategyQuant X allows you to create powerful trading robots with complex algorithms from a click of a button. The EA developer is beneficial for those who have no clue about programming and are a novice to the software development industry.
Ebooks, video lessons, and consultations are given via skype to help you get used to the program. One can create automated trading software for any market and time frame. The building process is quite simple and enables one to develop thousands of strategies in builder mode and choose the one that gives the best return in a fully automatic operation.
Executing trades in the market through the help of a robot is advantageous as it eliminates the need to manage psychological states, one of the critical components of trading.
Robot developer also comes with a backtesting engine, as stated, which has live tick data support. The EA can be compiled to run on various platforms that include MetaTrader 4/5 and TradeStation/MultiCharts.
Tons of other different services related to software development for trading can be utilized, including automated, customizable workflow, two types of Monte Carlo tests, walk-forward analysis, 3D optimization charts, advanced filtering, and many more. Starter, professional, and ultimate are the three packages that can be bought by a one-time payment or three-month installments.
Pros
- A 14-day free trial is offered to test out their service.
- A vast amount of customization options come along with more than 40 indicators and means to backtest your strategy.
- They provide a sufficient amount of material to get one acquainted with StrategyQuantX 56 video lessons and Skype video consultation.
Cons
- The robot can be developed only for a limited number of platforms and excludes important ones like Ninjatrader or cTrader.
- It comes with a hefty price tag.
Read more about StrategyQuant X in this review
10. QuivoFX
Founded: 2014
Location: Switzerland
Investment Risk: Medium
Trader’s Level: Intermediate
Backtests
Verified results:
US Clients:
Demo account:
QuivoFX is a one-person website run by Yannick Deubel, who offers a range of expert advisors, indicators, and a few trading tools on his website that have been around for five years. Individual robots can be tried on the demo accounts with limited features to test out their performance. Buying the full package will grant further access to the expert advisors with a specific strategy related to it that is detailed in more information. Getting the advanced and pro packages available on the site for 99 and 149 CHF, respectively, will provide you with a handful of top robots. However, no results are available or verified, which may raise an eyebrow for some.
Similar to automated software, indicators are also available to test on the demo accounts via strategy tester. There are also a handy set of free options that can be downloaded.
The indicators provide useful insights on market directions, relative strength, volatility, etc. The plan of action is detailed thoroughly. Good knowledge of the market will be handy while formulating a strategy based on these.
MQL programming services are also on offer; however, they are currently not available.
One can use the products on as many accounts as he/she wants. The School section, accompanied by the forums, can educate and answer most of your questions.
Pros
- A useful set of robots and indicators are compiled up under one website. It saves you the hassle of manually searching for the best in the market.
- With QuivoFX, you can demo test out the products on your MetaTrader accounts before buying. Free products are also available.
- A detailed section under the heading of ‘School’ is available to educate you on using robots and indicators.
- By combining the various sets of indicators offered by QuivoFX, one can make up a powerful trading strategy.
Cons
- Expert advisors are not available for the MetaTrader 5 platform.
- No refunding option.
- As one person handles the website, the support can take up to 10 days to respond.
Read more about QuivoFX in this review
11. Forex Flex EA
Founded: 2014
Location: USA
Investment Risk: High
Trader’s Level: Advanced
Backtests:
Verified results:
US Clients:
Demo account:
With a one time payment, you’ll get your hands on an automated trading system that constantly updates its settings according to the market. The unique expert advisor opens virtual trades in the background to assess the charts and will get in at a razor-sharp entry managing the executions with perfection. Three different strategies are available with the robot:
· H1 DefaultTDI Gain: 804.02%
· New Stoch RSi Close Gain: 377.02%
· Candlestick Pin Gain: 123.94%
Trading records and privileges are verified by Myfxbook, but the strategies used by Flex EA are not detailed profoundly. A 330 USD price tag will set you for a single license on the MT4/5 account, while two can be obtained for 495 USD.
The expert advisor comes with optimized settings for the robot that makes it super simple to use. An unfiltered community forum alongside direct customer support to the coder of EA is provided.
News filter, DD stop loss, and money management allow you to have better risk management, an essential trading component. Other services offered by Flex EA include session filters, indicators, indicator closures, time filters, hedging, hide from the broker, currency filter, etc.
A 30-day money-back guarantee can be claimed if you believe the expert advisor is not the right choice for you.
Pros
- The trading robot has lots of useful risk management features.
- A 30-day money-back guarantee gives you peace of mind.
- A 10 USD nano or a 100 USD micro accounts can be used to start trading with the robot. The required amount is super low and is perfect for anyone looking to test the automated trading software.
- The ability to talk directly with the coder of the trading robot is a plus.
Cons
- Myfxbook records show a single initial huge monthly profit, which records for more than 95 percent of total gain as indicated by them. In simple words, the average monthly return provided by the EA average around 3 percent.
- The website interface is poorly designed.
Read more about Forex Flex EA in this review
12. Agimat Trading System
Founded: 2016
Location: Spain
Investment Risk: High
Trader’s Level: Advanced
Backtests:
Verified results:
US Clients:
Demo account:
Agimat FX system is based on the following four components:
| Agimat FX 2018 V2 | Agimat FX 2020 | Agimat FX Pro Forex EA 2018 | Agimat FX Ultra | |
| Method | Scalping and binary options | Swing trading and scalping | Scalping | Scalping |
| Time Frame | M5, M15, H1, H4, Daily | H1, H4, Daily | M1 | H1, H4, Daily |
| Accuracy | 80-90% | 80-90% | 94.1% | 80-95% |
Agimat FX expert advisor is fully automated and works entirely on its own while the rest of its family members are semi or manual. The trading robots can be installed and run on MetaTrader 4/5 with ease to trade every instrument, including currency pairs, stocks, futures, CFDs, commodities, metals, and cryptos.
Results of executions are available on the website, which shows an average monthly profit of 5.1% by using the automated trading system. Agimat FX ultra acts as an indicator providing signals executed manually by you. A computerized trade copier is also present, and it copies every position, saving the trouble to do everything yourself. With the help of neural networks, developments are automatically made within the expert advisor that adjusts the stop losses, manages equity, and learns as it trades.
The software engineering company that developed the system of trading robots known as Agimat FX has offices in Spain and Hongkong. It is also registered with USPTO (the United States Patent and Trademark Office).
Pros
- Ability to trade every instrument on an MT4/5 account.
- The trading robot is developed specially by software engineers to deliver the best results in the market.
- An excellent mobile trading app is available on both android and iOS platforms that keep you updated.
- A fair amount of tutorials are on the website to help one get started with the automated trading systems.
Cons
- A monthly gain of 5 percent may be considered a little bit below average by some.
- The figures about the drawdown from the EA are shown differently at various places.
Read more about Agimat Trading System in this review
How To Choose A Forex Robot
Besides looking at every option worthy of consideration, there are certain factors that every person looking for a robot to purchase should keep in mind.
Risk Management
We can’t ignore the importance of managing risk when it comes to trading the financial markets. Unfortunately, most of the robots that show huge returns on small accounts ignore this primary trading component. When utilized in real-time, these EAs turn your account into dust using risky martingale strategies or larger lot sizes.
A successful trading robot has suitable entry/exit points with an adequate win ratio. Risk/reward above 1:1 and a win rate of more than 50 percent is enough to keep you in the game. Drawdowns (absolute, maximal, or relative) are essential when indicating an automated software’s risk factor.
Verified Trading Results and Consistency
Profitable EAs always show great results during live trading or backtesting. Their vendors have verified track records on the noted sites, like Myfxbook, that show the robot’s detailed statistics. Consistency is one of the critical factors determining success in trading, whether it’s manual or automated. Quality robots always maintain a better form no matter what the market conditions are and give good gains.
News Filtering or Fundamentals
A good trading robot will always consider important news events which shift the market direction and cause changed volatility. It is always recommended to close your positions before such releases or bring your stop losses to break. Some EAs have a built-in news filter that exits out of trades, and such robots are therefore more profitable.
Free Trial
A trial version should be available for automated trading software to use and test a real account short-term before proceeding to buy it. Although demo accounts do not reflect real market liquidity or slippage, they are still useful in providing nearly accurate results.
Customer Service by Developer
The trading robots with a reputable approach have an excellent customer service provider by the developers. These include a user manual for the expert advisor and the best settings under which it performs at its peak. Questions asked must be answered quickly, and support should be provided 24/7.
Full Automation
The best EAs are the ones that are fully automatic and handle the complete process from entering to exiting a position. Some robots are semi-automatic and work more like indicators providing signals but not executing the trades themselves. They may require a lot of time from your side to stay glued to the screen.
Reviews
An expert advisor that has been around for a long time is sure to have some good reviews on noted review websites or forums. Trustpilot, forex peace army, quora, etc., are the right places to look out for posts on trading robots’ efficacy.
Our Methodology
The trading robots that made our list have gone through tedious research and scrutiny over several months. Hundreds of hours have been put into backtesting on live/demo accounts, checking the consistency, risk management, and getting in touch with the creators to answer our questions. On collecting all the details about our selected expert advisors, we have compiled everything into this short review along with pros and cons to give you all the brief and relevant information when you’re choosing an automated trading software.
Our Experts
