Forex trading gives you the potential to become financially stable and many people are aiming for it in the least time possible. However, the trading industry also has its own myriad of risks to offer. Highly leveraged positions are very attractive and yet they are also the ones that can make you lose everything, including your trading capital. Because of the learning curve in trading Forex, investors who failed to achieve their goals in manual trading transitioned to automated trading and ended up looking for a reliable expert advisor or Forex robots.
Introduction to Automated Trading
A lot of investors get interested in the use of automated trading and expert advisors. It is surely enticing to use especially because of its advantages and comfortable trading experience. But automated trading doesn’t keep trading risks at bay. Even with the use of automated trading, investors still face huge risks. This goes to show that Forex trading isn’t for the faint of heart and also not a kid’s game. The higher leverage you take, the higher risk you get. Therefore, if you are new to trading, it is best to settle on lower leverage to minimize the risks that you will take. But if you are interested in using Forex EAs, you can choose from this selection of the best Forex EAs of 2021.
FX Classic Trader
This expert advisor is known to be a trend EA that is compatible with MetaTrader 4 Trading platform. Naturally, it is non-martingale and works its magic on EUR/GBP trading pair. The advertised profitability of FX Classic Trader can reach as high as 335% while its recommended leverage is 50:1. You can use this EA after paying a minimum deposit of $200 and traders get a lifetime license for only $109.
FX Blaster Pro
This Expert Advisor is based on a variety of indicator signals. For its trading strategy, it is being prepared through different strategies and combining it with grid, semimartingale, hedging, and trend trading. FX Blaster Pro allows its users to choose the risk preference that they like. The main advantage of this EA is that it works in all brokers including those from the United States.
Forex Megadroid
This Expert Advisor uses inbuilt software called Reverse Correlated Time and Price Analysis (RCTPA). It is based on Artificial Intelligence and can forecast market changes that can possibly happen over the next few hours.
Flex EA
This middle-term trend advisor utilizes EMA crosses and x3Retrace strategy. Flex EA also uses different technical tools like Support & Resistance, TDI, ADR, Bollinger Bands, Momentum indicators, Candle sizes, Stochastic, and RSI. This EA works best when paired with currency pairs like USDCHF, GBPUSD, USDCAD, and USDJPY. Flex EA is using a newly built technology known as virtual trades wherein virtual trades are constantly being opened to check the market and determine the best entry and exit points.
Happy Frequency EA
Another EA which is best used in trend trading, hedging and grid are the Happy Frequency EA. The strategies used in Happy Frequency EA are strongly protected by a News filter. This Expert Advisor offers 4 account types like ECN, mini, standard, and micro-accounts. It is compatible with MetaTrader trading platforms.
