Best Forex Robot 2022 – Top 10 Trading Bot Providers for Beginners.
We compare the top 10 forex trading robots for beginners in 2022 and reveal the best forex robot right now.
Last Updated: August 23, 2022.
A forex robot is a type of computer program that’s designed to trade forex automatically.
Forex robots follow a specific set of trade signals and settings in determining the best prices at which you can buy or sell a currency pair. They use complex mathematical algorithms to monitor the markets and follow price action.
Forex robots can help both beginners and experienced foreign exchange traders maximize their return on investment. They eliminate emotional and psychological biases when trading and bring automation to forex trading.
In this guide, we’ll explain everything you need to know about how forex robots work and review the 10 best forex robots for 2022 .
The Best Forex Robots Rated by Experts.
Here’s a look at the best forex robots for 2022 – read on for detailed reviews!
Note : A forex robot is only as good as the algorithm behind it. Be sure to research the expertise of a robot’s development team, its past performance, and its reliability.
On this Page:
Contents [ show ]
What is a Forex Robot?
A forex robot is computer software – often referred to as an artificially intelligent trading algorithm – that is used to automatically execute forex trades. It independently analyzes the forex market to look for technical patterns that offer opportunities for profitable trading. Then it uses this information to determine the best trade entry and exit points.
Forex robots are also called expert advisors if you are using MetaTrader 4 or 5.
How Forex Robots Work.
Forex robots work by monitoring the forex market. They are designed to automatically recognize technical patterns like breakouts, reversals, and momentum that offer trading opportunities. When a pattern is recognized, forex robots will trigger a buy or sell order to enter a position.
Once the movement is completed, forex robots will automatically exit the position for a profit. If the expected price movement doesn’t happen or the trade goes against you, the robot will use a stop loss to automatically limit the consequences of the trade.
Forex robots are a lot like forex signals, with the main difference being that they trade automatically on your behalf. Whereas it’s up to you to decide which signals to trade on and which to ignore, forex robots will trade on every signal they detect.
What are the Pros and Cons of Using a Forex Robot?
Pros.
Speedy market analysis and order processing Helps you eliminate emotional and psychological biases from a trade Can be used for backtesting different strategies before deciding on the best Forex robots can monitor and trade multiple currency pairs and trading accounts simultaneously more effectively A forex robot is immune to such human limitations as exhaustion and fatigue.
Cons.
Trading forex with a robot is a high risk activity Some forex robots can be quite expensive and complicated to work with There are many scam or poor-performing forex robots Most forex robots require you to be connected to the internet 24/7 for trades to be executed.
Criteria Used to Compare the Best FX Robots for 2022.
Want to know how we determine the best forex robot? These are some of the key factors we considered in our review:
Order execution speed Number of currencies traded Security and reliability Risk management tools Trade accuracy and win rate Subscription costs and commissions Expertise of the development team.
Best Forex Robots for 2022 Revealed.
1. Learn2Trade - Overall Best Forex Robot.
Learn2Trade, a London-based trading education company, is one of the leading forex trading signal providers in the world. Its signals have a success rate of between 89.54 – 93%. The company provides forex trading signals, online day trading courses, and support to independent financial traders of all kinds.
Lear2Trade emphasize the importance of responsible risk management practices and the satisfaction of its clients. The company offers a 30 day, 100% money-back guarantee should traders feel that their automated system did not help them make any money. The team reports a success rate of 92% for a total of 2,860 active members.
You can trade most major forex pairs with Learn2Trade, including the highly popular EUR/USD trading pair. Pricing is based on the length of your subscription and there is a lifetime option available. Learn2Trade even offers limited free forex signals for traders just getting started.
How to join Learn2Trade.
Step 1: Choose a package.
Choose a package – Learn2Trade offers three packages;
The 1-month package which costs $25 offering 3 premium signals per day with 89% success rate live messaging service, clear SL and TL also takes 30 seconds to sign up.
The 3-month package costs $55 and offers the same functionalities as the 1-month package.
The 6-month subscription package for $85. Limited slots are available and the cost is effective by saving $65 if done monthly. It offers 3 premium signals per day with an 89% success rate, live messaging service, clear SL and TL.
Step 2: Checkout.
Once you chose your package, you will be transferred to the cart page. Click on the proceed to checkout button.
Step 3: Fill in your details.
Fill in the registration form: billing details, phone, address, and your chosen payment method. You can complete your payment with a credit card, PayPal or cryptocurrencies.
Proven success rate of between 89.54 – 93% Has been in operation for over 12 years Signal delivery via Telegram.
2. Forex Fury – Excellent Forex Robot with 93% Success.
There's no doubt Forex Fury is one of the best forex robots on the market. To start with, this robot boasts a 93% trading success rate with verified Myfxbook accounts, using a low risk trading strategy with under 20% drawdown. It's compatible with a wide range of platforms, including MT4, MT5 NFA and more.
Forex Fury also makes it very easy to get started in just 5 minutes, with full length installation guides and videos! The customer service is another impressive aspect of this broker, with a friendly and super-responsive support team. On top of that, there are multiple filters to help you avoid bad market conditions.
If you're unsure about Forex Fury, this robot's website shows some of the excellent trading results it's achieved with both demo and live accounts. All these accounts are with trusted and secure brokerages, and the client feedback is 99% positive!
There are two purchase options for Forex Fury. The Gold account costs $229.99 and comes with one live account license, unlimited demos, free updates, high performance settings and a lifetime membership. The Diamond $439.99 and comes with an extra live account license.
Here to join Forex Fury.
Step 1: Sign up to the platform.
Visit the Forex Fury homepage and open an account.
Step 2: Choose your package.
Decide whether you want a Gold or Diamond account.
Step 3: Begin trading.
Choose your settings and let the robot begin trading for you!
Claimed 93% success rate Works with verified Myfxbook accounts Low risk trading strategy Excellent customer service.
3 . 1000pip Climber - Excellent Results And Easy to Use.
For traders who want to achieve strong and consistent results but do not have the time or technical knowledge to keep adjusting multiple settings and filters each day, the best option would be the 1000pip Climber robot. This robot is widely considered to be one of the best and most advanced robots available to retail traders. But unlike many Forex robots, this one has very few settings and is extremely easy to use.
As you would expect, the long term performance of this robot has been outstanding. It has performed strongly and consistently in a variety of market conditions. Most importantly, the results of this robot have been independently verified by MyFXBook. We believe that when choosing a Forex robot it is essential to check that it has independently verified results and you should only consider purchasing a robot that can provide this.
The key to the success of the 1000pip Climber System, is the state of the art algorithm at the core of this Forex system. The algorithm has been developed by a professional Forex trader and is regularly updated to account for changing market conditions. For such an advanced robot the installation process is fast and the user interface is very easy to use. It is no surprised that the 1000pip Climber system is one of the leading and most popular robots around. It has an almost perfect 4.7 out of 5 user rating on TrustPilot. Many users are also impressed by the fact that they can get help directly from the professional trader who developed the system. This additional mentoring can significantly boost long term outcomes for retail Forex traders.
If you are looking for the best Forex robot available, with outstanding performance, an easy user interface and ongoing support then the 1000pip Climber System is by far the best option for you.
Now is a great time to purchase the 1000pip Climber System because the developer is currently offering a flash sale - for this month the price is reduced from $299 to only $97. So if you join them now you will be getting one of the most advanced professional trading robots at a bargain price.
How to join 1000pip Climber:
Step 1: Register for 1000pip Climber.
Visit the 1000pip Climber System website and select 'Get it now!'
Step 2: Choose a package.
In line with the philosophy of keeping things simple, there are no complicated options or different membership levels. All users will receive the same highly advanced Forex system with all the same features. All you need to do is select the 1000pip Climber System at check out.
Step 3: Start trading.
All the information from the 1000pip Climber System will then be emailed directly to you with a video and a PDF explaining how to install and use the system. If you have any questions you can email the professional trader who developed the system.
High performance Easy to use MyFXBook verified results Quick installation Free upgrades.
4. FX Master Bot – Best Forex Robot for Web-Based Automated Trading.
FX Master Bot is an online platform that offers web-based automated trading services. In Layman's terms, this means that there is no requirement to install or download any software to your device. On the contrary, everything can be executed via the FX Master Bot platform. In terms of how it works, the underlying algorithm will scan thousands of forex and cryptocurrency markets throughout the trading day.
When the algorithm spots a potential trading opportunity, you will be notified instantly. With that said, FX Master Bot allows you to act on these findings autonomously. That is to say, you can elect to automatically place the required entry and exit orders every time a new signal comes to fruition. On top of 17 major currency pairs, the bot also covers 5 cryptocurrencies. Once you meet the minimum deposit amount of $250, the bot is activated. This means that you can then set your own stakes, subsequently ensuring that the bot trades with amounts you are comfortable with.
How to join FX Master Bot.
Step 1: Sign up to the platform.
Visit the FX Master Bot homepage and open an account.
Step 2: Deposit funds.
Deposit at least $250.amount to activate the bot.
Once you do, you then need to If opting for the former, all signals will be placed automatically.
Step 3: Start trading.
Decide whether you want to engage in automated or manual trading and start trading. You can withdraw funds from FX Master Bot at any time.
Good track record since established in 2022 Automatically place orders when new signal arise Withdraw your balance at any time.
No demo trading facility.
No guarantee that you will make a profit with this provider.
5. EA Pros - Free Forex Robot for 5 Pairs on MT4.
As the name suggests, Algo Signals is an online service that provides forex and cryptocurrency signals. The platform claims to make an average daily return of 2%, which is huge. What we really like about these bold claims is that the provider allows you to test-drive its signals via its demo account facility. This allows you to validate the integrity of the trading suggestions prior to risking your own capital.
In terms of getting your trades on, Algo Signals has partnered with a select number of licensed brokers. This ensures that you are able to act on the signals in a safe and secure environment. Crucially, when you receive a real-time trading signal from the platform, you will be provided with all of the necessary entry and exit points. This includes that all-important stop-loss order price, meaning you will always be in a position to mitigate your potential losses.
Great support Simple and quick installation Over 28,000 pips in two years Works on the MetaTrader 4 platform Fully automatic system.
Only available on 4 brokers.
No guarantee that you will make a profit with this provider.
6. eToro – Best for copy trading.
eToro is placed as one of the world’s best social trading platforms. The reason it makes it into our list, is that in a similar way to forex robots where the system makes trades based upon statistical analysis, with eToro you get to track the trades of experienced professionals. This system is likely to guard against the over-running a trend in the same way a purely automated forex robot might be exposed to. This platform is available for junior and advanced investors, and has the right functions and features to help most investors improve their trading yields.
In order for traders on the platform to become recognized as an experienced professional, eToro has the Pro Trader qualification. This helps to confirm that copy trades are from genuine pro traders who know what they are doing. In addition to copying the trades of individual traders, you can also track the best performing pooled fund/ trading portfolios.
eToro is regulated for forex, stocks, CFDs and more across much of Europe, while in the US is the market leader in the crypto-trading.
How to join eToro.
Step 1: Sign up to the platform.
Open a new eToro account with your name and email address. Provide details including your telephone number, proof of address and identification. You'll also need to answer questions to help the platform understand your level experience trading.
Step 2: Deposit Funds.
To start trading with eToro you will need to deposit $200.
Step 3: Start Trading.
Practicing trading with a demo account to get the hang of the system. Then place your own live trades when you're ready.
Hosts numerous social trading features that extend beyond copying a traders portfolios Maintains a highly transparent fee and price structure Low minimum operating balance of $200.
Their customer support team that can only be accessed via email.
Disclaimer eToro: 78% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
7. CryptoRocket - Best Forex EA for MetaTrader 4.
CryptoRocket is crypto, forex and CFD broker based in St. Vincent and the Grenadine. The broker uses Straight Through Processing (STP) execution which removes the conflict of interest between the broker and traders.
CryptoRocket offers a variety of currency pairs, stocks, indices, and cryptocurrencies for its clients to trade on through MetaTrader 4, the most popular trading platform in the market. The broker stands out from other competitors in the industry due to its high leverage ratio of up to 1:500, the ability to deposit and withdrawal funds with Bitcoin, and its encrypted crypto wallet.
How to join CryptoRocket.
Step 1: Register for CryptoRocket.
Fill in the registration details on the CryptoRocket home page. You will need to enter your email address and create a new password in order to open a new trading account.
Step 2: Choose a trading platform.
Choose one of the trading platforms: MetaTrader4 or MT4 WebTrader.
Step 3: Make a deposit.
Click on the ‘Make a Deposit’ button on the left side-menu and transfer funds through one of the payment methods: bitcoin, wire transfer or credit card.
CryptoRocker uses Straight Through Processing (STP) execution Offers an encrypted wallet and a secured trading platform CryptRocket provides traders to deposit and withdraw funds with bitcoin.
The broker does not provide commodities trading.
8. BinBotPro – Best Forex Robot for binary options investors.
BinBot is a highly progressive and artificially intelligent trading algorithm, specially designed for binary options investors. The tool automates every aspect of forex trading starting with conducting market research, reading through graphs and charts trying to map and predict market movement as well as monitoring market trends to determine the ideal time to trade. With its relatively advanced analysis technology, BinBot Pro is optimized to gather market insights and metrics that can be used to project market movements. Today, the robot trader is already helping binary options investors achieve commendable accuracy and generate a continuous stream of profit, as much as 125%+ on invested amounts depending on the preferred individual bot trader.
How does BinBot work?
BinBot sets itself apart from the competition because of its highly diversified mode of operation and support for several other indictor-specific mini-bots. Unlike when dealing with most other single forex robots whose settings and indicators you can keep adjusting, BinBot plays host to more than ten other bots that you can choose from during signup. Most of these can trade more than one currency pair while others are specially designed to only trade specific pairs. We are particularly drawn to this forex robot given that despite its full automation, you still have absolute control over such aspects of its operation as when it trades, the number of trades it can engage in simultaneously, and the amount of capital committed to every trade session.
How to choose a BinBot mini-robot.
Your choice of a forex trading robot should be influenced by such factors as the best trading sphere as well as your desired income level. Going through the BinBot list of forex robots, you will notice that they all display their potential returns on investment with some reporting as much as 125% return on investments. It can also be informed by your experience and previous exposure to forex trading. With this regard, you have the option of scrutinizing the trade settings and indicators for the different bots and vetting their viability or choosing to custom build your own trading robot using the tools availed by BinBot.
How to join BinBot.
Step 1: Register for BinBot.
Enter your name and email address on the BinBot forex robot website. You will also need to choose your preferred trading robot and binary options trader.
* Note: BinBot and its wide range of forex trading mini-bots are available free of charge.
Step 2: Deposit funds.
Fund your account with a minimum of $250. While the forex trading robot is free, the binary options investment brokers you chose to work with require an initial deposit amount of $250 to activate the robot.
Step 3: Start trading.
Launch the trading bot. The bot will go live as soon you fund your account, but you have the option to turn it on and off and to decide of the number of trades it can execute simultaneously.