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Best Forex Robots | What are they and where to find them for free

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In this guide, we will find out which are the  best Forex robots  to automatically invest in the forex market.

There are many opinions that circulate about these investment systems, so in  Inversiones24  we have chosen to write this guide to clarify and provide all the answers to our readers.

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We immediately begin to answer the recurring questions that are often posed to the publisher.

Do I have to be a programming expert to use a Forex robot? Not necessarily, as there are pre-established automatic systems on the market. You just have to enter them in the platform and then activate them. Of course, having a basic knowledge of MQL or C +++ is definitely an advantage.

What is the best platform to use Forex Robots? Most likely the Metatrader like the one offered by LiquidityX , since it is specially structured to load Expert Advisors or algorithmic systems.

Do you really make money with Forex Robots? It depends on the quality of the chosen Robot. Before buying it, it is always necessary to request the transaction history in a real account, to verify its effectiveness.

Are paid or free Forex robots better? Price is not a discriminatory factor, on the contrary! What really matters is the robot’s ability to close trades at a profit.

Below is a general table with the main characteristics of the best Forex Robots on the market:

🏆 Suitable platform

Metatrader

💰 Minimum deposit

200 €

📈 Average performance

Between 4% and 15% annually

🎯 Automatic systems

Expert Advisor – Algorithms

⭕ Computer languages

MQL – C +++

 

What are Forex Robots?

With the term Forex Robot we refer to automatic investment systems, based on a  specific programming language (MQL or C +++).

These robots will open and close transactions in the Forex market based on predetermined indications, provided during the programming phase.

This is the first aspect to consider:  there are no miracle robots that generate large and constant profits. Behind every automatic system there is always a human intervention that must establish the parameters for the correct functioning of the Robot.

Therefore, a good trader can build an automatic investment method by learning the basics of the programming language. On the contrary, a programmer without investment knowledge will not be able to develop a profitable Robot.

How do Forex Robot work?

The operation of Forex Robots is based on the execution of orders based on what is established in the programming phase: when X reaches level Y then it opens a buy operation.

It follows that, depending on the  trading strategy  we want to use, we will configure our robot accordingly.

For example, if we invest in Forex with  moving averages , we will configure our Robot with indications similar to the following:

  • When the slow MA crosses the higher fast MA, enter the market with a Buy

Or, if we use Price Action , we can provide such indications:

  • When the X price rises above the Y level, open a long position.

In short, the opportunities are many and, therefore, it is necessary to configure the automatic robot based on our personal strategy.

How to set up a Forex Robot?

Let’s find out what are the steps to follow to correctly configure an automatic Forex Robot.

1. Programming

If we decide to create it ourselves, then we must use the programming languages ​​to give the operational indications to our Robot.

We must translate the Trading strategies into HTML or MQL language, in order to provide clear and precise indications to our Robot.

One suggestion: the most complex robots are not always the best performing, quite the opposite!

2. Configure it on the platform

Now we need to load our automated system onto the platform. As stated, the Metatrader is the best for automatic trading.

Just log in with your credentials and click on the MQL section. From here we can enter all the data and codes of our Robot.

3. Backtesting

This phase is essential: it is about testing the Robot in a Demo account to see if it is working. The Backtesting phase must last at least 1 year and the market conditions must be identical to those found in the real one.

It will be important to implement the Robot with all the necessary improvements, until it works stably.

4. Market launch

Here is the most important phase: load the trading account with real money and “start” the Forex Robot to start making it work in the market.

A word of advice: we recommend unplugging the Robots before the macroeconomic news is released, as the market has unpredictable shakes.

Types of Forex Robot

Although the basic concept is the same, there are different types of Forex robots on the market. Let’s find out which ones are the most common.

1. Expert Advisor

The most widely used type of Forex Robot is that of Expert Advisor (EA). They are simple programs that are easily loaded into Metatrader and independently open / close trades.

Setting up an EA is not difficult, especially if we use not particularly complex trading strategies. Some brokers also offer free EAs within the platform.

The most popular Expert Advisor are those based on moving average or Fibonacci levels . The market is full of EAs, some cheap and some very expensive!

The recommendation is always the same: ask to see the history of operations before proceeding with the purchase.

2. Algorithmic robots

In this case, the difficulty threshold increases. These robots are based on algorithms that analyze the market and determine when is the right time to invest.

Many of the popular ones in quantitative ( high frequency ) trading require significant mathematical knowledge and excellent familiarity with programming languages.

Its cost is also higher than that of a traditional EA: it can often exceed € 1,000. Some are sold by subscription, therefore the use of the software is granted for a monthly fee paid to the owner company.

Do they really work? Unfortunately, given the complexity of the matter, the web is full of scams based on these robots. However, there are serious companies working in the HF field, even when their prices are (often!) Prohibitive.

3. Hybrid systems

Many robots are based on a so-called “hybrid” system, as they offer market analysis, but then it will be the trader who manually enters the orders in the market.

This methodology is probably the most profitable, as it takes the best of automatic robots and combines everything with the experience of the human eye.

With these robots it will be possible to  analyze dozens of  currency  pairs simultaneously , which is impossible for a human being. When interesting investment opportunities arise, the Trader is notified in real time and will decide according to his instincts whether or not to enter the market.

Best Free Forex Robot

The market is full of free automatic robots to invest in the forex market.

How to choose the best ones? At Inversiones24 we have focused our research on the services offered by Forex Brokers , since they are free and of high quality.

What are the best free Forex robots? These are the most profitable solutions on the market:

AUTOMATIC ROBOT

BROKER

CLASSIFICATION

Operational signals

LiquidityX

⭐️⭐️⭐️

Copy

eToro

⭐️⭐️⭐️

AI

Capital.com

⭐️⭐️⭐️

Mirroring

AvaTrade

⭐️⭐️⭐️

They are automatic investment systems that have proven over the years to be reliable and profitable.

Operational signals

Among the best free Forex robots are the LiquidityX trading signals . Excellent broker with official license and a Metatrader to invest, allows you to use the best EAs in a practical and intuitive way.

To support the trader, first of all, a high-quality eBook is offered, excellent for studying the basics of the Forex market and best-performing strategies.

Let’s get to the point: LiquidityX offers an excellent trading signal service. These are operational indications, drawn up on the basis of an algorithm, which reach the Trader in the form of a notification. Everything happens in real time.

The markets analyzed are many and all the major currency pairs are analyzed by the algorithm. When the right conditions to enter the market are met, here comes the notification:

  • Eur / Usd enters price X with target level Y

It will be the trader who will enter the market, also on the basis of objective evaluations made by observing the market.

This ‘hybrid’ service has been on the market for several years and has always been  very successful . The percentage of finished signals at Target is really high.

Another plus: the signal service is free! You simply have to become a client of the broker to request the service at no cost. In addition, it will also be possible to test them on a demo account.

All those who are looking for an  automatic Forex Robot  should try the trading signals   offered by LiquidityX, here is the link to request them:

Copy Trading

The automatic Copy Trading system is undoubtedly one of the most successful in the world. It is offered by eToro , owner of the patent, and has more than 14 million customers worldwide.

How does the Copy system work? The automatic aspect is delegated to a search engine that analyzes the performance of all Popular Investors on the platform, that is, the best traders.

The trader can then filter the amount of data, being able to choose the best popular investors based on some criteria, such as:

  • Achieved performance
  • Years of experience
  • Risk level

The peculiarity lies in the fact that by selecting the best performing traders, the “robot” will replicate their trades on our account.

Therefore, there is a basic work done by the algorithm, instead of analyzing markets directly choose the raders with better performance . Then there is human intervention, with the Popular Investors selection to copy.

Finally, the automatic system becomes central again since it will perfectly replicate all the operations of the selected traders in our account, as a percentage of our investment.

Additional improvements made over the years now allow the Copy system to indicate a maximum Stop Loss or better manage the percentage invested in each Popular Investor.

Probably the  best hybrid automatic trading system in  the world – Copy Trading is extremely popular and profitable!

Artificial intelligence AI

This is one of the most interesting developments of automated Forex Robot: the Capital.com Artificial Intelligence system .

This broker has devised an algorithm that analyzes in detail everything that happens within the platform, with data and analysis carried out on thousands of clients. The objective is to provide the  investor with  a global image of the market .

Also in this case it will be the trader who opens the positions manually, but he will be able to do so by following useful indications elaborated by a refined and complex algorithm.

What information does the AI ​​system process? These are the main ones:

  • Average duration of positions
  • Profitable assets
  • Most used indicators
  • Most profitable days of the week
  • Tips for managing money

A real virtual assistant, capable of offering indications that a human eye could not analyze.

Mirroring

When we talk about the best Forex Robots, we must mention the  Avatrade  Mirror Trading.

This broker has specialized in offering services related to automatic trading, through different methods of use.

We must specify that the Mirror (in Spanish: mirror) is a system similar to Copy that allows copying the operations launched by other investors.

Specifically, Avatrade also offers the ability to receive trading  signals  or copy real signal providers.

There are 3 Forex Robots services made available by Avatrade, let’s analyze them better.

1. DupliTrade

We are talking about a company authorized to work as a Portfolio Manager and capable of offering trading signals or Copy Trading services.

The client can choose the  best providers  and create an investment portfolio. Obviously, it will be possible to set Stop Loss and other risk management parameters.

Once everything is set up, simply activate the DupliTrade account and take advantage of automatic trading.

2. Zulutrade

The first Copy Trading system in the world, offers an always updated ranking of the best  signal providers .

This way it will be easy to choose the best ones, find out how they work, and start copying them automatically. Among the forerunners of Forex Robot Trading, Zulutrade is an option that is still widely used today for investing in the forex market.

3. MT4 Signals

An excellent signal service, directly in  Metatrader , that helps the investor to choose how and where to invest.

It will be possible to filter these signals based on the following indications:

  • Profit percentage
  • Drowdown level
  • Risk percentage
  • Duration of operations

Also in this case it is a “semi-automatic” Forex Robots that takes advantage of algorithms in combination with human intervention.

 

The best paid Forex robots

When choosing to buy or subscribe to automated services that require payment, always remember to follow these recommendations:

  • View trading history
  • Beware of promises of sure earnings
  • Always try the EA in the demo

These 3 tricks will allow us to face purchases with more security, without the risk of falling into scams.

What are the best Forex Payment Robots? To date, the most profitable on the market are the following:

ROBOT

PRICE

EVALUATION

Forex Fury

$ 230

⭐️⭐️⭐️

Hamster Scalping

$ 30

⭐️⭐️⭐️

FX Master Bot

$ 250

⭐️⭐️⭐️

Big Breakout EA

$ 365

⭐️⭐️

Forex Robotron

$ 7 / month

⭐️⭐️

Best Forex Payment Robots

Let’s find out more with a brief review of each automated system.

Forex Fury

Probably the most popular Forex Robot among the paid ones, Forex Fury is a system that has been in the market for several years and with good performance.

It is an EA that can be activated in Metatrader (4 and 5) and with the possibility of inserting Money Management rules to follow or filters to avoid operations during the launch of macroeconomic news.

The Forex Fury price is  $ 230  for the basic version or  $ 439  for the Diamond version.

Hamster Scalping

It is a basic EA, perfect for beginners also due to its affordable price: € 30.

Hamster Scalping works almost exclusively on the Euro / Dollar pair and can be activated in Metatrader. It does not include the martingale, a particularly risky strategy.

A curiosity? We can’t find the Robot website! The system is purchased only on third-party channels.

FX Master Bot

This Forex Robot has its own platform, so its EA must be activated in the company’s software.

It is activated with  € 250  and the Robot will work in 17 currencies and 5 cryptocurrencies. Also, in this case there is no real website, in fact some reviews describe it as a scam.

The risk of buying payment robots is this: the line between success and scam is likely to be very thin.

Big Breakout EA

This Forex Robot is based on the Price Action strategy and works with 17 currency pairs.

Its risk percentage is medium / low and it is based on a very complex algorithmic strategy. The price is quite high: $ 365  for the purchase or  $ 79 / month  if we want to opt for the subscription.

Also for Big Breakout there is no official website, only reviews on other portals.

Forex Robotron

Another paid Forex Robot, Robotron. It is based on an EA, even if it differs from other systems in the method of purchase.

There is no initial cost as Robotron charges a commission of $ 7 for each lot traded. There are 5 currency pairs and no risk strategies are used.

The disadvantage? A  minimum deposit of $ 5,000 is required  !

What are the pros and cons of a Forex Robot?

Like any investment system, robots also have advantages and disadvantages. It will then be up to the individual investor to choose whether this methodology is suitable for him or whether he prefers to move towards other systems.

We can summarize the  advantages and disadvantages of automatic Forex robots  in the following table:

✅ ADVANTAGES 

❌ DISADVANTAGES 

Thousands of data processed per second

There are scams in the market

Zero emotional component

They don’t always publish the history

Accurate market analysis

Often require a 24h connection

Possibility of continuous improvements

One specification: The free automated systems we have listed are safe and reliable methods as they are managed by regulated brokers.

They also always offer the transaction history (Track Record), in the case of eToro it  is clearly visible in the section dedicated to each investor.

LiquidityX and Markets  also allow you to test everything on a demo account, for an accurate Backtesting phase with no surprises.

These aspects are of great importance when choosing a good Forex Robot!

Best Forex Robots | Opinions and reviews

What do investors think of Forex robots? In general, both on  Trustpilot  and other portals, the reviews are positive.

The only really negative notes come from those who chose EA that turned out to be  scams . However, fending off these opaque systems is easy, just don’t believe those that promise “guaranteed” profits – they don’t exist in finance!

To get a more accurate and objective opinion on this, here are two  tutorials that clearly explain what is thought of Forex Robot automated systems.

 

Final notes

In this complete and updated guide for 2021 we have reviewed the  best Forex Robots  to invest automatically.

After some general considerations, we have indicated the best free and paid robots, to offer the reader a wide choice based solely on the best automatic investment systems.

One last tip? Always start with free robots, also to learn how to configure them correctly and have an accurate and worry-free Backtesting phase!

The Copy Trading  eToro and  the operating signals  of LiquidityX today are the best investment automated methods, certified by the large number of users and especially for the excellent performance in the market!

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