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Best Forex Robots and EA Reviews

Forex expert advisors are great tools for traders who are just starting out, but also for those who want to make the most of their trades. Forex robots make decisions on your behalf – basically, they make automated trading decisions, so a human does not need to monitor the software all the time.

One can find Forex trading robots online – some come for free, while others have paid versions. However, beginner traders might have a hard time making decisions and might not know whether to use these tools or not.

Fortunately, we researched the market for you and found some top expert advisors that you can use to strengthen your Forex strategy. Read on to be able to find your ideal EA.

What Are Forex Robots?

Sometimes, traders gain profit by coming up with a good Forex strategy that involves selling and buying currency pairs. They do this manually, spending a lot of time trying to achieve their goal.

But other traders decided to rely on programs and software that are automated and that do the operations on their behalf. Some combine the two and perform semi-automated trading.

In order to trade without too much hassle, many traders use Forex robots. A robot or EA is a specialized piece of software that doesn’t have the psychological aspect of trading. Instead, it analyzes the market and operates based on what it finds.

Forex EAs can create trading signals in multiple markets, and they can do various actions to help you with your trades. For example, they can either do the trading according to the way they were programmed by you, or they can tell you when you should place a trade.

You can create your own Forex robot if you want to, or you can look for an existing one if you wish to get into automated trading right away.

Creating your own EA may be great if you have an idea for the perfect system, but if you’re a new Forex trader, you’re better off purchasing one. In order to make your own, you will have to learn things like MetaQuotes Language (MQL) which can take some time.

Do Forex Expert Advisors Work?

Forex robots consist of a special software application that was developed and programmed to have a set of parameters and rules to help with trading. They can operate on the market by initiating trades and liquidating them through electronic trading automation.

A Forex EA can be used by traders if they want to manage risk, as users can program it to search for trends and breakouts. On top of that, you can also set it to use a selection of technical indicators. When using an EA, it will be able to monitor the current account balance and it will even control your Forex account. Furthermore, it will analyze and tell you how much of your balance you can put at risk. Generally, no more than 1% or 2% of your account’s balance should be risked.

Pros and Cons of using Forex EAs

A lot of people who’ve used a Forex robot previously will probably give you a positive review of the particular product that helped them with trading. But while EAs have their pros, they also come with some downsides. You should be aware of them if you are planning to incorporate a Forex robot into your trading strategy.

Here are the pros and cons of Forex robots:

Forex EA Advantages

Beginners Can Take Advantage of Them – Forex trading newcomers usually feel overwhelmed by the number of things they have to do to reach their goal. Well, a forex robot changes everything. Not only does it make trading easier, but it is also readily available.

Emotions Will Not Influence the Trading Process – When they’re trading manually, a lot of people tend to make decisions based on their emotions. Well, forex EAs change the game, as they can keep trading without letting their data-mining process be influenced by emotions.

More Effective for Trading – A forex robot has the power to work much faster and will operate more effectively. The markets will be analyzed carefully, and the EA will look for the best trading opportunities.

You Can Use Them Whenever You Want – Forex EAs are available 24/7, so you can trade whenever you wish. Even better, the robot can operate permanently, so you can focus on other aspects of your business. It will not require any break.

They Can Be Programmed to Work How You Want – You can program a Forex robot to work the way you desire. For example, it can block certain trading strategies for various currency pairs at the same time.

Forex EA Disadvantages

They Are Vulnerable to Non-Trending Markets – Forex robots work by checking for current trends, as well as trading signals. They will then use what they find for trades. Everything will go nicely when the market is trending, but if the market turns sideways, the robot’s functionality will decrease.

You Need a Good Internet Connection – When you’re using a Forex EA, you must have a strong Internet connection. If the connection is bad, then you can expect the robot to not perform the way you expected.

Not All Robots Are Profitable – While a lot of forex robots are available for sale, they are not all profitable. You must spend a lot of time doing the research before selecting one, and if you choose wrong, you may end up losing money.

Not the Best at Reading and Interpreting Fundamental Data – When it comes to technical analysis, forex EAs are amazing, but for fundamental reading and interpretation, they are not that great. In case the market is affected by any major event, the robot’s trading activity will take a blow too.

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Recommended Forex Robot!
ForexTruck
ForexTruck – Forex robot for automated trading

Forex Truck EA is one of the quality Forex robots that’s been out working live for a long time, having impressive results.... More

TOP 3 Forex Robots
FXParabol
FXParabol – best Forex trading EA FXParabol – trading statistics of the automated Forex trading software
  • Price: $289
  • Gain: 546.1%
  • Monthly: 14.3%
  • Running Time: 447 days
  • Start deposit: 2500
  • Balance: 18852.3
  • Drawdown: 44.6%
Visit Forex Robot Website
FXStabilizer PRO
FXStabilizer PRO – very profitable automated Forex trading EA FXStabilizer PRO – Forex trading results on the real account
  • Price: $739
  • Gain: 891.7%
  • Monthly: 4.8%
  • Running Time: 1433 days
  • Start deposit: 3100
  • Balance: 29781.1
  • Drawdown: 66.8%
Visit Forex Robot Website
FXConstant
FXConstant – reliable Forex trading software FXConstant – Forex robots’ live trading results
  • Price: $295
  • Gain: 680.4%
  • Monthly: 5.5%
  • Running Time: 1127 days
  • Start deposit: 1000
  • Balance: 7826.26
  • Drawdown: 34%
Visit Forex Robot Website
Most recommended Forex robots
Do you want to succeed in Forex trading? The best Forex robot for metatrader 4 is going to help you with that!

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List of the Best Forex robots of 2022
Rank Forex EA’S Name Type Monthly (%) Gain (%) Start Balance Days Drawdown PDF Details Comments
71 Happy News LIVE 64.7 3695.5 6788.08 6057.58 321 38.1 PDF Preview Vendor’s live account statistic. Low drawdown and high profit potential.
3 FX Classic Trader LIVE 53.8 3075.2 1316.18 5733.43 403 81.4 - Preview -
84 FX Fortnite EA LIVE 33.1 54.5 5000 6194.85 43 26.5 - Preview -
85 Happy Power LIVE 33.1 54.5 5000 6194.85 43 26.5 - Preview Vendor's live account.
56 FxPro Dragon LIVE 32.1 234.2 981.63 1756.9 169 0.8 - Preview Vendor's live account.
51 Best FX Networks LIVE 28.5 377.2 491.21 1783.81 188 0.5 - Preview Vendor's live account.
40 Happy Breakout LIVE 27 89.2 5000 9459.14 84 9.4 - Preview -
82 Happy Breakout Demo DEMO 26.2 140.3 10000 24026.5 111 16.9 - Preview Test on a demo account.
109 Broker Profit LIVE 24.5 132.6 1050 228.75 321 22.9 PDF Preview IC Markets’ live account statistic. 15-day money back guarantee.
93 AX Trader DEMO 19.1 19.9 10000 18992.8 117 50.7 - Preview Test on a demo account.
45 Forex Enigma EA LIVE 17.5 449.9 3000 13605.2 309 65.2 - Preview Vendor's live account.
96 FX Fortnite EA Demo DEMO 16 -17.2 10000 12359.5 142 60.6 - Preview -
34 FXParabol TOP LIVE 14.3 546.1 2500 18852.3 447 44.6 PDF Preview Vendor's live account
80 Happy Gold LIVE 14.2 759.5 5000 9436.03 482 17 PDF Preview Vendor’s live account statistic. Trades on XAUUSD.
94 XXL Forex Real Profit LIVE 13.4 -18.8 1100 1414.25 196 58.5 - Preview Vendor’s live account statistic. 15-day money back guarantee. Free version available*.
61 Happy Japanese Market LIVE 11.7 118.5 6000 4370.47 208 44.9 - Preview Vendor's live account.
118 AQUA Forex Trading LIVE 11.2 19.8 1100 1338.67 196 15.7 PDF Preview Vendor’s live account statistic. Free version available*.
10 Forex Gump EA TOP LIVE 11.2 92.9 13000 16069.2 181 31.1 PDF Preview Vendor’s live account.
83 Forex Sugar LIVE 10.2 25.1 533.13 500.7 73 30.1 - Preview Vendor's demo account.
24 FXHelix LIVE 9.1 674.3 1000 10676 805 79 PDF Preview -
15 FXQuasar TOP LIVE 9.1 1022 2000 22604.7 819 51.3 PDF Preview Vendor's live account.
86 Easy Money X-Ray Robot Demo DEMO 8.8 50.2 10000 15030.5 125 50.1 PDF Preview Test on a demo account
38 FXTrackPRO LIVE 8.3 711.9 1000 8514.98 160 53.5 PDF Preview Vendor's live account
39 FXTrackPRO SUPER LIVE 8.3 711.9 1000 8514.98 160 53.5 PDF Preview Vendor's live account
8 MyForexPath TOP LIVE 7.9 1422.1 2000 30459.8 1047 67.1 PDF Preview Vendor's live account.
28 FXGoodWay X2 LIVE 7.5 647.6 2000 15072.2 830 79.6 PDF Preview VENDOR'S LIVE ACCOUNT RESULTS.
77 XFXea Demo (High risk) LIVE 7.4 36.9 10000 13692.2 129 53.1 PDF Preview -
48 Happy Neuron LIVE 7.4 213.1 33000 38908 473 29.3 - Preview Vendor's live account
50 Forex Gump EA Demo DEMO 6.9 14.6 10000 12579.1 103 21.9 - Preview Test on a demo account.
89 FXDiverse Demo DEMO 6.9 12.4 10000 13700.3 144 16.1 PDF Preview -
17 ForexTruck TOP LIVE 6.8 803.7 2000 18184.5 992 27.4 PDF Preview -
87 FXTrackPRO Demo DEMO 6.3 29.6 10000 13349.3 142 18.5 PDF Preview Test on a demo account
110 Happy Fast Money EA LIVE 6.1 158.6 5000 5245.43 470 59.8 PDF Preview Grid, trades on EURUSD, GBPUSD, EURGBP or AUDUSD, EURCHF, USDCHF.
101 FXGoodWay USDCHF Demo DEMO 6 6.1 10000 10687.2 108 2.5 PDF Preview -
14 Happy Gold Demo DEMO 5.6 23.1 10000 12306.8 111 7.8 PDF Preview Test on a demo
16 FXConstant TOP LIVE 5.5 680.4 1000 7826.26 1127 34 PDF Preview Vendor's live account
25 Happy Frequency TOP LIVE 5.2 124.4 17500 20870.5 469 21.7 - Preview Vendor’s live account. News filter.
4 FXDiverse LIVE 5 283.3 5000 19202.3 914 78 PDF Preview Vendor’s live account statistic. Stable profit.
43 FXStabilizer PRO TOP LIVE 4.8 891.7 3100 29781.1 1433 66.8 PDF Preview Vendor’s live account statistic. Works with EURUSD and AUDUSD.
58 FXStabilizer EURUSD Demo DEMO 4.8 50.8 10000 15097.4 263 14.3 PDF Preview Test on a demo account.
55 FX Shooter EA LIVE 4.7 111.3 1000 2113.3 1247 30.9 PDF Preview Vendor’s live account statistic. Low drawdown and high profit potential.
20 Trader's Moon TOP LIVE 4.6 220.3 1539 2164.04 1383 54.6 PDF Preview Vendor's live account.
69 August Forex Golem DEMO 4.5 160.8 500 2555.88 1013 75.8 - Preview Broker sensitive. Demo results are great so logic is good. But reliable and fast broker required! Big Drawdown 2019.02.13
65 FXSecret Immortal Demo DEMO 4.4 148.6 10000 24756.8 619 75.7 PDF Preview Demo account statistic.
22 Forex inControl Reborn TOP LIVE 4.4 1061 1000 11732.5 1695 50.3 PDF Preview Vendor’s live account statistic. Gains profit on 4 currency pairs.
106 Forex Sugar Demo DEMO 4.4 -9.7 5000 5913.23 115 10.6 - Preview -
29 FxStabilizer AUDUSD LIVE 4.2 904.4 2000 20208.2 910 70.1 PDF Preview Trades only on AUDUSD.
1 Happy Market Hours DEMO 4.1 4549.5 45803.8 341079 3320 13.2 - Preview Demo account statistic.
5 FXCharger Basic NEW LIVE 4.1 6 10000 10595.9 67 1.9 PDF Preview Vendor’s live account.
105 Happy Neuron Demo DEMO 4.1 -1 10000 11661.5 111 14.2 - Preview Test on a demo account
66 Fx Proud EA LIVE 3.8 153 10000 25295.3 1016 49.2 - Preview Vendor’s live account statistic. Works with 15 currency pairs.
27 Forex Cyborg DEMO 3.6 239.1 3670.52 13214.3 1006 39.1 PDF Preview Vendor's demo account.
33 Wall Street Evolution DEMO 3.5 359.4 10000 45955.5 2244 43.8 PDF Preview VENDOR'S LIVE ACCOUNT RESULTS. MT4 or MT5 !!
12 Happy Forex LIVE 3.5 73 4566.92 3868.32 473 18.4 PDF Preview Trades on EURUSD, EURCHF, GBPUSD and AUDUSD.
2 Best Scalper LIVE 3.5 1520.6 200 3241.1 2946 59.7 PDF Preview Vendor’s live account statistic. Price: - 25% cupon code: CNNY.
70 ForexTruck Demo DEMO 3.4 57.4 10000 15912.8 406 10.6 PDF Preview -
68 FXStabilizer AUDUSD Demo DEMO 3.2 45.5 10000 14554 351 36.5 PDF Preview Test on a demo account.
41 Forex Warrior Demo DEMO 3.1 166.8 100000 266830 1526 9.6 - Preview Test on a demo account.
7 Happy MartiGrid LIVE 3 57.2 2000 1601.59 473 41.1 PDF Preview Caution! No stop loss.
13 FxStabilizer EURUSD LIVE 3 880.7 10000 98068.9 2247 46.5 PDF Preview Vendor’s live account.
78 Happy Galaxy LIVE 3 16.1 4500 4048.73 146 31.2 - Preview Vendor's live account
35 Happy Algorithm PRO LIVE 2.9 56.5 2000 2481.15 473 18.7 PDF Preview Trades on EURUSD, EURCHF, GBPUSD and AUDUSD.
30 News Action Trader LIVE 2.8 215.6 0 0 1805 20.5 - Preview Vendor’s live account statistic. 30-day money back guarantee.
26 FXZipper TOP LIVE 2.8 169.5 500.52 727.57 1050 14 PDF Preview Vendor's live account
90 Trade Explorer Demo DEMO 2.5 9.6 10000 11185.7 144 5.8 PDF Preview Test on a demo account
11 Forex GOLD Investor DEMO 2.4 555.2 500 3275.79 2920 36.4 - Preview 60-day unconditional money back guarantee.
21 Funnel Trader LIVE 2.3 396.1 5000 24807.2 869 60.2 - Preview Vendor's live account.
88 FXQuasar Demo DEMO 2.2 10.8 10000 11130.4 146 3.4 PDF Preview Test on a demo account.
19 Trader's Sun TOP LIVE 2.1 397.7 898 1652.98 2367 23.7 PDF Preview Vendor’s live account statistics. Not martingale.
81 XFXea Demo (Low risk) LIVE 2.1 9.5 10000 10949.4 129 30.4 PDF Preview -
73 FXGoodWay X2 Demo (Set 2) DEMO 2.1 31.8 10000 13273.4 406 12.8 - Preview Test on a demo account.
54 FXGoodWay X2 Demo (Set 1) DEMO 1.9 28.7 10000 12909.2 406 16.5 - Preview Test on a demo account.
97 The Money Tree DEMO 1.8 7.6 10000 10756 117 6.9 - Preview Test on a demo account.
6 Forex Real Profit EA LIVE 1.7 425.3 2436 4110.87 524 19.8 PDF Preview Vendor's live account.
102 FXCipher Demo DEMO 1.4 5.1 10000 10518.5 108 21.4 - Preview Test on a demo account
91 Trader's Sun Demo DEMO 1.2 6.1 10000 10609.8 144 3.8 PDF Preview Test on a demo account.
44 Exreign Forex EA Demo DEMO 1.2 47.7 10000 14765.9 1525 5 - Preview Test on a demo account.
18 Forex Combo System DEMO 1.1 138.6 500 1193.18 2498 41.1 PDF Preview Vendor's demo account.
67 Forex Enigma EA Demo DEMO 1 16.1 10000 12037.7 530 65.9 - Preview Test on a demo account.
100 Happy Frequency Demo DEMO 1 3.2 10000 10402.3 111 3 - Preview Test on a demo account.
112 FXRapidEA QUATTRO Demo DEMO 0.6 -3.1 10000 10146.8 67 18.3 - Preview -
52 Trader's Moon Demo DEMO 0.4 14.4 10000 11440.2 1086 4 PDF Preview Test on a demo account.
107 Wall Street Recovery Pro Demo DEMO 0.2 0.1 10072.4 10712.5 1492 7.3 PDF Preview Test on a demo account.
37 Forex Diamond DEMO 0.2 10.6 1000 1106.31 1786 44.3 - Preview Vendor's account.
98 Stealth Trader DEMO 0.2 0.6 10000 10064.9 117 3.3 - Preview Test on a demo account.
46 Forex GOLD Investor Demo DEMO 0 1 10000 10098.4 1498 3.3 - Preview Test on a demo account.
104 Happy Galaxy Demo DEMO 0 0 0 0 111 0 - Preview Test on a demo account
9 Forex Diamond Demo DEMO -0.3 -15 10000 8499.1 1587 15.2 - Preview Test on a demo account.
62 WallStreet 3.0 Domination DEMO -0.3 -1.3 10000 9869.51 129 1.4 PDF Preview Test on a demo account
74 DynaScalp Demo DEMO -0.7 -7.2 10000 9275.95 424 8.7 - Preview Test on a demo account.
95 FXConstant Demo DEMO -0.7 -2.9 10000 9724.96 129 29.1 PDF Preview Test on a demo account.
59 FX Ekspert Moving Average EA Demo DEMO -0.8 -36.3 10000 6609.83 1471 60.7 PDF Preview Test on a demo account. Website doesn't work.
92 FXZipper Demo DEMO -1 -4.5 10000 9546.16 142 22.9 PDF Preview -
36 Tension Trader LIVE -1.8 -26.2 3000 2214.71 1835 95.5 - Preview Vendor’s live account statistic.
113 FXStabilizer Ultimate Demo DEMO -2.4 -5.5 10000 9482.63 67 23.1 PDF Preview -
76 FXStabilizer PRO Demo DEMO -2.5 -5.4 10000 9455.89 67 23 PDF Preview Test on a demo account.
108 Happy Power Demo DEMO -2.6 -19.4 10000 9029.26 111 35.7 - Preview Test on a demo account.
72 FXAdept Demo DEMO -3.6 -9.4 10000 9059.38 140 22.2 PDF Preview Test on a demo account
99 Forex Combo System Demo DEMO -3.6 -14.7 10000 8513.1 129 16.6 - Preview Test on a demo account.
79 Automic Trader Demo DEMO -3.6 -32.9 10000 6710 322 40.7 PDF Preview Test on a demo account
47 QuickScalp Trader Demo DEMO -4.2 -78.8 10000 2120.14 1546 79.2 - Preview Test on a demo account.
103 FXOxygen Demo DEMO -4.5 -17.9 10000 8215.89 129 32.6 PDF Preview Test on a demo account.
115 FXParabol Demo DEMO -5.4 -25.3 10000 8837.08 67 37.1 PDF Preview Test on a demo account.
49 Forex Imba Demo DEMO -5.8 -54.7 10000 4547.83 406 56.4 PDF Preview Test on a demo account.
60 FXHelix EA Demo DEMO -5.9 -21.5 10000 7852.8 129 33.4 PDF Preview Test on a demo account.
119 Trend Hunter Robot NEW DEMO -6.4 -4.3 10000 9570.32 21 11.5 - Preview Test on a demo account.
64 Forex inControl Reborn Demo DEMO -7.9 -24.2 10000 7576.72 108 35.1 PDF Preview Demo account statistic.
23 FXCharger Max Demo NEW DEMO -8.7 -29.1 10000 7161.22 108 47.9 PDF Preview Test on a demo account.
75 FX Shooter Demo DEMO -9.5 -67.5 10000 3246.31 1139 90.7 PDF Preview Test on a demo account.
32 FXAdept LIVE -9.7 -99.6 1000 4 1782 99.9 PDF Preview Vendor’s live account statistic. Not martingale.
114 FXRapidEA DUE Demo DEMO -10.5 -22.3 10000 7770.65 67 30.6 - Preview -
42 PowerfulForex Demo DEMO -13.2 -48 10000 10000 146 51.4 PDF Preview Demo account statistic.
63 Yeti Forex Robot Demo DEMO -13.6 -96.7 10000 331.9 716 97.6 - Preview -
111 FXTrackPRO SUPER Demo DEMO -18.5 -68.8 10000 3713.33 142 66.1 PDF Preview Test on a demo account
117 ForexBot28 Demo DEMO -31.5 -75 10000 2500.69 116 80 PDF Preview Test on a demo account.
116 ForexBot28 LIVE -34.5 -100 10000 0.18 911 100 PDF Preview Vendor’s live account statistic. Trades on over 28 currency pairs.
31 FXCharger Basic Demo NEW DEMO -57.8 -28 10000 7200.9 12 28.6 PDF Preview Test on a demo account.
53 PowerfulForex LIVE -100 -103.4 1500 6.05 1134 99.9 PDF Preview Vendor’s live account statistic. Profitable and powerful Expert Advisor.
57 Matalino Forex EA LIVE -111.1 -111.1 5000 1.5 503 110.2 - Preview Vendor's live account

Criteria Used for Evaluating Forex Robots

In order to select the best Forex robots on the market, specific criteria are used. The criteria can compare features possessed by the EAs and determine their quality and trustworthiness. So, let’s see what criteria determine the reliability and quality of a Forex EA:

  • Forex Expert Advisor Money-Back Guarantee – Everyone wants to avoid fraud, and this is why a money-back guarantee should be offered by any reliable EA. The guarantee makes the buying process safer, decreasing the fraud risk.
  • Forex Robot Backtesting – It is necessary to choose a robot with a lot of backtests available. The manufacturers must have backtested the EA in several market conditions to see how reliable it is. They will use special software when testing the robots, and this will help them find out if the EA should be tried out on a real trading account.
  • Forex EA Drawdown Analysis – Another criterion used when selecting top Forex robots is the EAs drawdown analysis. It will reveal the profitability of the product every month compared to the maximum drawdown of the trading account. It can be very useful in determining the risks taken when using that specific EA for trading.
  • Trading Period of the Forex Robot – The real-life trading results shouldn’t be overlooked when evaluating a Forex EA. The trading duration of the real-life account is one of the most crucial aspects to pay attention to. A reliable EA should generally have at least 3-4 months of operation – otherwise, it’s not to be trusted.
  • Real Forex Trading Statistics – A criterion used to evaluate a Forex EA is also the real live trading statistics of the robot. It is essential to see if the developer made these available. This can show whether the EA is legit or a scam. This also proves that tests were not made for the EAs. Furthermore, it will tell if the EA makes a profit or not.

TOP 10 Expert Advisors

Are you looking for a good forex robot yet don’t know how to pick one yourself? Here are the top 10 expert advisors with a great trading system that you should check out:

FXStabilizer PRO

FXStabilizer Pro review

FXStabilizer Pro offers various currency pairs, and it has a minimum deposit of $1,400. Its trading statistics show a good track record since 2016. It is a very stable and amazing system, and it trades while keeping long-term profitability in mind.

Pros:

  • Very profitable
  • It has live results from 2016
  • Accelerator mode
  • Very easy to use
  • Its reliability was proven

Cons:

  • Its drawdowns are large

FXRapidEA QUATRO

FXRapidEA QUATRO review

FXRapidEA QUATTRO trades rapidly, so it doesn’t have protracted trades. This way, trades don’t spend over 1-2 days in the Market. The EA uses special algorithms to determine the trend direction. It is compatible with a lot of brokers too. The tool is easy to install and set up.

Pros:

  • It trades very rapidly
  • Doesn’t trade against the trend
  • Compatibility with MT4/MT5 brokers
  • Very profitable

Cons:

  • It has high drawdowns
  • Trend trading is usually quite risky

Forex Truck

Forex Truck review

ForexTruck has live statistics since 2020 and a minimum deposit of $290-$970. It uses the “two blocks” trading algorithm and it is fully automated, being able to obtain high profits.

Pros:

  • It doesn’t have long unprofitable periods
  • Regular trading
  • Low minimum deposit
  • 24/7 technical support

Cons:

  • Not the best for people who do not expect the multiplication of the lot size

FXCipher

FXCipher review

FXCipher comes with a minimum deposit of $390 and live statistics from 2020. It has very high profitability, all thanks to the great trading algorithms. It also has two built-in presets that you can pick from.

Pros:

  • It has good reviews
  • 2 set modes
  • The website is professional
  • Lower price

Cons:

  • The vendor is not transparent
  • The drawdown is high

FXQuasar

FXQuasar review

FXQuasar uses a unique algorithm to trade. 6 independent sessions are used in order to define how to carry out the trading process. Its live statistics are available since 2020, and the robot has a minimum deposit of $600, with AUD/USD being its currency pair.

Pros:

  • It has a great win rate
  • MT4 and MT5 versions are available
  • Strategy insight
  • Very profitable

Cons:

  • Lack of transparency
  • High price

FXConstant

FXConstant review

With live statistics since 2019, the FXConstant robot has a unique built-in trading strategy. It has a market analysis tool and a 20-pattern trading algorithm that can help you achieve great results in trades. The minimum deposit is $200.

Pros:

  • Affordable EA
  • Real-account trading results
  • Refund policy
  • Strategy insight

Cons:

  • No transparency
  • Infrequent trades

FXTrackPRO SUPER

FXTrackPRO SUPER review

The FXTrackPRO SUPER EA was made to boost profits. It has 6 currency pairs and an MT4 and MT5 version. It has an in-built risk control system that protects the account from losses. The traders can also have low risk when using this EA.

Pros:

  • The website is professional
  • Highly profitable
  • Money-back guarantee
  • Live trading and backtesting results

Cons:

  • High price
  • High drawdown

FXZipper

FXZipper review

FXZipper has a very low minimum deposit of only $80, and it has live statistics from 2019. It is a strong scalping EA that has 8 currency pairs and can trade with any Forex broker.

Pros:

  • It shows trading results
  • Backtesting reports
  • Unique technology
  • Broker-friendly

Cons:

  • Lack of feedback
  • Risk advice not offered

Forex inControl Reborn

Forex inControl Reborn review

Forex inControl Reborn comes with the EUR/GBP and AUD/USD currency pairs and it has been around since 2016. It’s easy to set up and has an Acceleration mode. It’s fully automated as well.

Pros:

  • Multiple backtests
  • Money-back guarantee
  • Medium price
  • Highly profitable

Cons:

  • Risky strategies
  • Lack of transparency

FXParabol

FXParabol review

FXParabol has a minimum deposit of $400 and is a newer tool. It uses specific algorithms and trend indicators to generate profit and has more than 18 months of live trading.

Pros:

  • Refund offer
  • It is fully automated
  • Very profitable
  • Live trading results

Cons:

  • A bit expensive
  • Vague strategy explanation

Things You Should Know Before Running a Forex EA

Before you jump into the world of Forex expert advisors, you should be aware of a few things. After all, you want to have a good experience using them from the get-go.

One of the things you should know is that you can use a virtual private server or VPS with an EA if you want it to run permanently. Virtual private servers are online versions of the MT4 platform hosted by an external server.

This way, you can turn off your computer, and the MT4 or MT5 platform and still have peace of mind that the robot is working. In order to run all the time, a MetaTrader instance will be hosted on an external server.

Trading on a low spread account is also something you should consider if you aim to increase profits. Profits are decreased with high spread accounts. Low spread accounts will decrease the likelihood of lost trades and will also boost your profit while reducing costs.

When you start trading, you should also know some things about Maximum Forward Excursion (MFE) and Maximum Adverse Excursion (MAE). MFE can help you discover how far the trades you make can go into profit, whereas MAE will allow you to see how far trades can get on the negative side before they turn into a recovery of profits.

Will Forex Robots Work in 2022?

The use of automated trading has skyrocketed in 2021, and this is all due to how beneficial it can be. In the absence of human intervention and emotions, it can make good trading decisions that increase the likelihood of making a profit. So, a large number of traders have been using Forex robots, and even more are probably going to do so in the future.

With EAs having so much popularity and praise in 2021, it appears that 2022 will also be a good year in the world of Forex robots. Their popularity will increase, and traders will use them more and more frequently.

How to Pick a Legit Forex Expert Advisor and Not a Scam?

Many scams are circulating out there, advertising themselves as life changing EAs. It’s important to stay away from them and protect your funds and information. Here are some tips that will help you choose a reliable tool and stay away from scams:

  • Check Real Statistics – One way to stay away from scams is by looking at the real statistics of the manufacturer's trading accounts. To do this quickly and easily, you can use platforms that can detect trading patterns, such as FXBlue and MyFXBook.
  • Don’t Ignore the Ratings and Reviews – Most Forex EAs will have reviews from users. Some will be positive, while others negative. It is important to look at the number of positive reviews versus the negative ones and read what people are praising and complaining about. This can help you avoid scams. Read reviews regarding performance, time frames, and other things about the EA.
  • Make Sure It Has Over 3 Months of Statistics – The trading duration of the tool should not be overlooked. Ideally, the robot should have more than 3 months of statistics available.

Should You Use Free Forex EAs?

A lot of individuals may be happy to see that some EAs are also available for free. When you are a beginner, free Forex EAs are worth using, especially if you want to test the waters.

But as you advance and learn how Forex robots work, you should consider using a paid EA instead because it’s more stable and trustworthy.

Conclusion

Picking a Forex expert advisor can be difficult. Luckily, we’ve come to your aid with 10 amazing tools. You can choose the one that fits your needs or use the guidelines to find your own. All you have to do is open a live/demo account and get into trading.

BEST 3 live account results
Trader's Sun
Trader’s Sun – profitable Forex EA for automated trading Trader's Sun – Forex trading results on the real account
  • Price: $269
  • Gain: 397.7%
  • Monthly: 2.1%
  • Running Time: 2367 days
  • Start deposit: 898
  • Balance: 1652.98
  • Drawdown: 23.7%
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MyForexPath
MyForexPath – Forex robot for automated trading Forex trading statistics of MyForexPath with the results on the real account
  • Price: $285
  • Gain: 1422.1%
  • Monthly: 7.9%
  • Running Time: 1047 days
  • Start deposit: 2000
  • Balance: 30459.8
  • Drawdown: 67.1%
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FXGoodWay X2
FXGoodWay X2 – profitable Forex EA for automated trading Live statistics of FXGoodWay X2 automated trading Forex robot
  • Price: $315
  • Gain: 647.6%
  • Monthly: 7.5%
  • Running Time: 830 days
  • Start deposit: 2000
  • Balance: 15072.2
  • Drawdown: 79.6%
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