Best Forex Robots 2021

If you are looking for the best forex robots, you have come to the right place!

Here you will find a hand-picked selection of the best forex robots based on over 15 years of researching and testing every forex robot that you could imagine.

What is a Forex Robot?

Forex robots will scan the forex market for trading signals based on complex algorithms that they incorporate. When they find a valid trading signal, they will enter trades and manage them on behalf of the user. This makes them a fully automated trading solution suitable for traders of all experience levels.

Forex robots are also commonly known as Forex Expert Advisors or Forex EAs for short. This is because the majority of them run in the popular and free to download MetaTrader platform, which refers to automated trading systems as Forex Expert Advisors.

Whilst there are many forex robots that you can purchase, some of them are better than others. Here we will take a look at some of the best forex robots and what you can look for when deciding which is the best forex robot for your own individual needs. We will also cover in detail how to setup and use a forex EA on a trading account.

Now without further ado, let’s get right into it!

Top 20 Forex Robots

This table displays verified trading accounts of the best forex robots so that you can compare performance and statistics to help you decide which is the best forex EA for you. The table also includes links to my forex robot reviews and the official website of each forex robot for your convenience.

Sort By
Filter By
Forex Robot RankingForex RobotForex Robot ReviewDepositBalanceGainMonthlyDailyDrawdownPFDaysChartAccount
1
Forex Robotron
Forex Robotron Review$100.00$23,939.21+23839.21%312.11%0.41%30.10%$23839.211341Real
2
Forex Flex EA
Forex Flex EA Review$10,000.00$145,280.04+1352.8%27.10%0.14%66.05%$135280.041852Real
3
Forex Robotron
Forex Robotron Review+2922.96%24.13%0.20%13.05%1722Real
4
Forex Scalping EA
Forex Scalping EA Review$50,000.00$4,951,906.11+9803.81%22.37%0.67%24.54%$4901906.11686Demo
5
5 Pips A Day
5 Pips A Day Review$100,000.00$395,674.09+295.67%15.71%0.08%67.63%$295674.091727Demo
6
Forex Flex EA
Forex Flex EA Review$10,375.46$6,934.18+789.02%15.44%0.48%13.42%$10967.6718897Real
7
Forex Flex EA
Forex Flex EA Review$15,821.10$42,971.58+479.38%10.55%0.33%56.61%$27150.481545Real
8
Forex Flex EA
Forex Flex EA Review$30,718.52$58,364.05+289.19%9.02%0.29%43.37%$27645.531244Real
9
Forex Flex EA
Forex Flex EA Review$4,826.54$15,681.96+229.56%8.12%0.26%21.00%$11064.721244Real
10
Forex Flex EA
Forex Flex EA Review$28,674.63$51,234.68+215.65%8.12%0.26%72.12%$22560.052044Real
11
Forex Auto Millions
Forex Auto Millions Review+53.28%7.71%0.25%39.73%172Demo
12
Forex Flex EA
Forex Flex EA Review$50,000.00$1,658,610.15+3217.21%7.38%0.23%54.82%$1608610.151517Demo
13
Forex Robotron
Forex Robotron ReviewA$2,935.28A$9,654.07+563.41%6.46%0.21%57.21%A$6718.791162Real
14
Forex Robotron
Forex Robotron ReviewA$12,745.10A$0.00+208.94%5.42%0.13%23.19%A$9669.331106Real
15
Forex Flex EA
Forex Flex EA Review$3,000.00$404,387.97+13379.6%5.19%0.17%36.53%$401387.972912Real
16
Forex Robotron
Forex Robotron ReviewA$10,874.27A$17,753.03+241.09%4.72%0.15%22.25%A$7954.76801Real
17
Forex Cyborg
Forex Cyborg Review+45.8%4.40%0.04%10.68%994Real
18
Forex Cyborg
Forex Cyborg Review€15,942.61€7,573.85+326.17%2.85%0.09%29.27%€11035.9118897Real
19
Forex Cyborg
Forex Cyborg Review€2,210.44€1,108.67+190.79%2.27%0.07%19.88%€4073.901636Real
20
Forex Cyborg
Forex Cyborg Review+86.62%1.22%0.04%17.75%1540Real
  
Forex Robot Ranking1
Forex Robotron
Forex Robot ReviewForex Robotron Review
Deposit$100.00
Balance$23,939.21
Gain+23839.21%
Monthly312.11%
Daily0.41%
Drawdown30.10%
PF$23839.21
Days1341
Chart
AccountReal
  
Forex Robot Ranking2
Forex Flex EA
Forex Robot ReviewForex Flex EA Review
Deposit$10,000.00
Balance$145,280.04
Gain+1352.8%
Monthly27.10%
Daily0.14%
Drawdown66.05%
PF$135280.04
Days1852
Chart
AccountReal
  
Forex Robot Ranking3
Forex Robotron
Forex Robot ReviewForex Robotron Review
Deposit
Balance
Gain+2922.96%
Monthly24.13%
Daily0.20%
Drawdown13.05%
PF
Days1722
Chart
AccountReal
  
Forex Robot Ranking4
Forex Scalping EA
Forex Robot ReviewForex Scalping EA Review
Deposit$50,000.00
Balance$4,951,906.11
Gain+9803.81%
Monthly22.37%
Daily0.67%
Drawdown24.54%
PF$4901906.11
Days686
Chart
AccountDemo
  
Forex Robot Ranking5
5 Pips A Day
Forex Robot Review5 Pips A Day Review
Deposit$100,000.00
Balance$395,674.09
Gain+295.67%
Monthly15.71%
Daily0.08%
Drawdown67.63%
PF$295674.09
Days1727
Chart
AccountDemo
  
Forex Robot Ranking6
Forex Flex EA
Forex Robot ReviewForex Flex EA Review
Deposit$10,375.46
Balance$6,934.18
Gain+789.02%
Monthly15.44%
Daily0.48%
Drawdown13.42%
PF$10967.67
Days18897
Chart
AccountReal
  
Forex Robot Ranking7
Forex Flex EA
Forex Robot ReviewForex Flex EA Review
Deposit$15,821.10
Balance$42,971.58
Gain+479.38%
Monthly10.55%
Daily0.33%
Drawdown56.61%
PF$27150.48
Days1545
Chart
AccountReal
  
Forex Robot Ranking8
Forex Flex EA
Forex Robot ReviewForex Flex EA Review
Deposit$30,718.52
Balance$58,364.05
Gain+289.19%
Monthly9.02%
Daily0.29%
Drawdown43.37%
PF$27645.53
Days1244
Chart
AccountReal
  
Forex Robot Ranking9
Forex Flex EA
Forex Robot ReviewForex Flex EA Review
Deposit$4,826.54
Balance$15,681.96
Gain+229.56%
Monthly8.12%
Daily0.26%
Drawdown21.00%
PF$11064.72
Days1244
Chart
AccountReal
  
Forex Robot Ranking10
Forex Flex EA
Forex Robot ReviewForex Flex EA Review
Deposit$28,674.63
Balance$51,234.68
Gain+215.65%
Monthly8.12%
Daily0.26%
Drawdown72.12%
PF$22560.05
Days2044
Chart
AccountReal
  
Forex Robot Ranking11
Forex Auto Millions
Forex Robot ReviewForex Auto Millions Review
Deposit
Balance
Gain+53.28%
Monthly7.71%
Daily0.25%
Drawdown39.73%
PF
Days172
Chart
AccountDemo
  
Forex Robot Ranking12
Forex Flex EA
Forex Robot ReviewForex Flex EA Review
Deposit$50,000.00
Balance$1,658,610.15
Gain+3217.21%
Monthly7.38%
Daily0.23%
Drawdown54.82%
PF$1608610.15
Days1517
Chart
AccountDemo
  
Forex Robot Ranking13
Forex Robotron
Forex Robot ReviewForex Robotron Review
DepositA$2,935.28
BalanceA$9,654.07
Gain+563.41%
Monthly6.46%
Daily0.21%
Drawdown57.21%
PFA$6718.79
Days1162
Chart
AccountReal
  
Forex Robot Ranking14
Forex Robotron
Forex Robot ReviewForex Robotron Review
DepositA$12,745.10
BalanceA$0.00
Gain+208.94%
Monthly5.42%
Daily0.13%
Drawdown23.19%
PFA$9669.33
Days1106
Chart
AccountReal
  
Forex Robot Ranking15
Forex Flex EA
Forex Robot ReviewForex Flex EA Review
Deposit$3,000.00
Balance$404,387.97
Gain+13379.6%
Monthly5.19%
Daily0.17%
Drawdown36.53%
PF$401387.97
Days2912
Chart
AccountReal
  
Forex Robot Ranking16
Forex Robotron
Forex Robot ReviewForex Robotron Review
DepositA$10,874.27
BalanceA$17,753.03
Gain+241.09%
Monthly4.72%
Daily0.15%
Drawdown22.25%
PFA$7954.76
Days801
Chart
AccountReal
  
Forex Robot Ranking17
Forex Cyborg
Forex Robot ReviewForex Cyborg Review
Deposit
Balance
Gain+45.8%
Monthly4.40%
Daily0.04%
Drawdown10.68%
PF
Days994
Chart
AccountReal
  
Forex Robot Ranking18
Forex Cyborg
Forex Robot ReviewForex Cyborg Review
Deposit€15,942.61
Balance€7,573.85
Gain+326.17%
Monthly2.85%
Daily0.09%
Drawdown29.27%
PF€11035.91
Days18897
Chart
AccountReal
  
Forex Robot Ranking19
Forex Cyborg
Forex Robot ReviewForex Cyborg Review
Deposit€2,210.44
Balance€1,108.67
Gain+190.79%
Monthly2.27%
Daily0.07%
Drawdown19.88%
PF€4073.90
Days1636
Chart
AccountReal
  
Forex Robot Ranking20
Forex Cyborg
Forex Robot ReviewForex Cyborg Review
Deposit
Balance
Gain+86.62%
Monthly1.22%
Daily0.04%
Drawdown17.75%
PF
Days1540
Chart
AccountReal

Forex Robot Rankings Explained

All of the results in the table are from real and demo trading account statements provided by the forex robot developer. The results are verified by third party forex trading account verification services including MyFxBook & FX Blue.

You can use the table filters to only display the forex expert advisors that match your criteria and to sort them by different ranking factors such as drawdown, total gain, deposit, days running and account type.

The majority of the forex eas have been running on trading accounts for at least a few months if not years and having the trading robot results all in one place makes it easier to compare forex ea performance.

New forex robots will be added when they are released and results are updated daily, so make sure to bookmark this page and check back for the best forex eas!

Following on from the list of the best forex robots, we will take a look at what each of the fields within the table mean. Hopefully this can help you decide which is the best forex robot for your own individual needs.

Details

The name and logo of the forex robot. You can click this table heading to sort the table of forex robots alphabetically.

Review

Link to my detailed review of the forex robot. You can click this table heading to sort the table of forex robots reviews alphabetically.

Deposit

Initial trading account deposit when the forex robot commenced trading on the account. You can click this table heading to sort the table of forex robots by the trading account deposit.

Balance

Current trading account statement balance. running the forex robot. You can click this table heading to rank the table of forex robots by the trading account balance. This will help you to see what forex robots are performing the best in terms of monetary gain.

Gain

Total percentage gain or loss on the forex robot trading account statement since it started trading on the account. You can click this table heading to rank the table of forex robots by the total percentage gain to see what are the best forex robots overall based on total percentage gains.

Monthly Gains

Average monthly percentage gain or loss on the forex robot trading account statement since it started trading on the account. You can click this table heading to rank the table of forex robots by the monthly percentage gain to see what are the best forex robots overall based on monthly percentage gains.

Daily Gains

Average daily percentage gain or loss on the forex robot trading account statement since it started trading on the account. You can click this table heading to rank the table of forex robots by the daily percentage gain to see what are the best forex robots overall based on daily percentage gains.

Drawdown

Maximum drawdown on the forex robots trading account statement, listed in the table as a percentage. Drawdown is a percentage of the account which has been lost when there was a run of losing trades. It is a measure of the largest loss that the trading account had at any given moment or period of time. The period of time in the table is since the forex robot started trading on the account. You can click this table heading to rank the table of forex robots by the drawdown to see what are the best forex robots with the least drawdowns.

PF (Profit Factor)

Profit factor on the forex robot trading account statement. Profit factor is the gross profit / gross loss. E.g Profit of $6000 and a loss of $3000 would give a profit factor of 2.0. This means that for every $1 risked, you can expect a return of $2. If a forex robot has a profit factor less than 1, eg profit factor of 0.7, this means that for every $1 you can expect $0.70 back (the forex robot is a losing one!). If a forex robot has a high profit factor, it is a good one – eg profit factor of 6.0 ($6 gained for every $1 risked). You can click this table heading to rank the table of forex robots by the profit factor to see what are the best forex robots with the highest profit factor.

Days

How many days the forex robot trading account statement has been running. You can click this table heading to rank the table of forex robots by the amount of days trading which will help you to see what are the best forex robots that have been performing for a good amount of time.

Equity Chart

Equity chart which makes it visually easier to see the forex robot performance alongside the statistics within the forex robots table.

Account Type

Type of forex trading account the forex robot is trading on – thus telling you if the forex robot listed within the table of results has a demo trading account statement or real trading account statement. Demo forex trading accounts can give different result to real forex trading accounts because of factors such as different broker spreads and brokers slippage. Usually the liquidity on a demo account would be artificial and thus the trades will usually be executed faster, this can also mean smaller spreads on demo accounts. However, demo accounts can still give a good idea on what to expect from a forex robots performance. It is usually recommended to use a true ECN forex broker with plenty of liquidity to ensure low spreads, low slippage and thus the best possible forex robot trading conditions. This can save you trading costs and improve trading performance.

Blank Field

If any of the fields in the table are empty it is because those forex robot trading account statistics have been made private and therefore are not displayed within the table.

What Are The Best Forex Robots
What Are The Best Forex Robots

What is the best forex robot?

Please see a selection of my personal top forex robots based on many years of testing thousands of robots.

1. Forex Robotron

Forex Robotron is by far one of the best forex robots that is commercially available. It has been running on multiple real live trading accounts that are verified by Myfxbook for many years now. In addition to the proven performance, it has 99% modelling quality back tests showing excellent historical performance over a 15+ year period on multiple currency pairs. All pairs used the same settings which emphasises the quality of the robot’s algorithm – it is not over optimized as a lot of forex robots are. The Robotron support is also excellent, with plenty of customer testimonials on the official Forex Robotron website showing many happy users.

2. Forex Flex EA

Forex Flex EA is another forex ea (expert advisor) that has stood the test of time. It also has a range of real live verified by Myfxbook accounts showing the ea’s performance over a sustained period of time. One of the unique features that separates the Flex EA from the rest is the fact it places virtual trades in order to analyse the markets behaviour until it finds an entry point to place an actual market entry trade. This feature along with the impressive 12 strategies implemented, ensures that the Forex Flex EA can adjust to varying market conditions. It also has a developer who is dedicated to keeping the software up to date and offers around the clock support.

3. Forex Cyborg

Forex Cyborg is a very innovative EA that trades an impressive and diverse range of currency pairs. It has a unique automated trading algorithm that has historical picked trades with a high success rate. There are real long term verified by Myfxbook accounts on the Forex Cyborg website that shows how it has performed over recent years. There are also plenty of 99% modelling quality back tests on the robot’s website which shows great historical performance over historical tick data on multiple currency pairs for more than 10 years. Forex Cyborg trades primarily in the evening GMT time and has excellent customer support.

4. Forex Scalping EA

As the name suggests, the Forex Scalping EA is a scalping EA that targets a few pips on each trade. There is a very impressive Myfxbook account on the Forex Scalping EA website that shows it has performed extremely well over the years. As with the other forex robots listed above, the scalping EA has a good range of back tests that shows how it performed in the long term on historical data. It trades multiple currency pairs before the Asian trading session opens. From my testing, this particular EA performs better with fixed tight spreads. This is usually the case with any Forex scalping system.

5. Forex Auto Millions

Forex Auto Millions uses a unique combination of technical indicators and price action analysis to determine the trend and look to enter on pull backs in the trend direction. Interestingly. This particular Forex Robot trades short (sell) only. It looks to grab around 5 pips per trade with the historical performance over back testing data showing it had a high win rate. It is another MT4 Forex EA which has been developed primarily for the EURUSD currency pair. You can find out more about this expert advisor on the Forex Auto Millions website.

Forex Robots Guide
Forex Robots Guide

Ultimate Forex Robots Guide

What are forex robots?

A forex robot is a fully automated trading system that will scan the markets on behalf of the user. If the forex robot finds a trading signal based on its built-in algorithm, it can place a trade automatically for you. The forex robot can also manage the trade by placing a stop loss and take profit. Some forex robots will even have a trailing stop loss, break even and other money management features.

How to use forex robots?

Forex robots are mostly developed to run in the popular MetaTrader 4 (MT4) platform which is free to download from most forex brokers across the globe. Interestingly, the MT4 platform refers to forex robots as expert advisors. You will notice the term forex expert advisor or forex ea frequently interchanged with forex robot. At the end of the day, they are effectively describing the same thing.

In order to start using a forex robot, you just need to download the MT4 platform from a forex broker such as IC Markets. You can then choose from the hundreds of forex robots to use on your trading account. I would personally always start on a demo trading account to begin with. This allows me to familiarise myself with how a forex robot works.

What forex robot should I use?

You will find free forex robots on various websites and also commercial robots. The paid forex robots should include full support and be frequently updated to keep up to date with the ever-changing market conditions. You can see my table of the best forex robots on this page to get an idea of how they have performed historically. Of course, this is no guarantee of future results but can help to give you an inclination into which is the best forex robot for your own needs.

Do I need experience to use forex robots?

The best forex robots will usually have already been optimised by the robot developer and come provided with default settings. There should be instructions that will explain how you can setup the forex ea on your charts, including the currency pairs and chart timeframes that the ea has specifically been designed for. Therefore, they are ready to use for traders of any experience level. If you get stuck at any point, you could always reach out to the robot developer and they should be happy to help you get setup.

How is a forex expert advisor developed?

Forex robots are developed by computer programmers who code the forex robot to analyse charts based on a combination of technical analysis, fundamental analysis and price action analysis. These forex robot developers will often spend many hours testing forex robots with different combinations and settings in order to find something that produces good results.

How do you back test forex expert advisors?

Forex robots or tested over historical data to see how they would have performed in the past. This is a process known as back testing. Whilst back testing can give you a rough idea of how a forex robot would have performed historically, it also has some limitations. This is because forex back testing cannot account with 100% accuracy for historical tick data, spreads, slippage and commissions. However, back testing can be a good way to see if a forex robot strategy has some potential and also to see what currency pairs and timeframes it produces the best trading results on.

How do you optimize a forex ea?

If I am testing a forex robot in the MT4 strategy tester, I will be sure to optimize it across a wide range of currency pairs and timeframes. For me personally, it is imperative that all back testing is conducted using real tick data, variable spreads, commissions and slippage. As mentioned above, we can never be 100% sure with historical back test results, but using a specialist back testing software such as Birts Tick Data Suite (TDS), we can get 99% modelling quality tests in the MT4 strategy tester. These are the best forex robot tests possible and I would only consider purchasing a forex robot that has these readily available or at least some real verified results.

In fact, I have optimized forex robots in the past and actually managed to find settings that performed better historically than those provided by the developer! Sometimes the developer has missed a certain currency pair or timeframe that was actually worth considering. On the other hand, I have tested forex robots with 99% modelling quality and realised that the results are far worse than those presented by the developer on the forex robot website.

Regardless, you should be aware of the logic behind the algorithm implemented within the forex ea and make sure you are happy with the statistics that are available to you. For example, if you use a grid forex ea or martingale forex ea, do not be surprised if your account eventually blows up. Whilst some developers release poor forex robots, there are those who have good intentions but that does not mean you are going to get good results as anything can happen in trading.

How much money do I need to start trading with a forex robot?

Most forex expert advisors will run with any account balance. If there is a minimum required then that should be specified by the developer. Either way, it is important to only trade with a forex robot using an amount that you feel comfortable with. I don’t believe that there is a one size fits all when it comes to minimum account size. What may seem small to one trader could actually be a significant investment for another. In saying that, most forex brokers will let you make a deposit into your trading account of just $1. You could even use a demo trading account to begin with until you have the funds and feel confident enough to trade on a live account.

How much can I make using forex eas?

We can refer to the verified results and back tests of a forex ea in order to get an idea of its historical performance. You can view statistics such as overall gain, drawdown, days running, profit factor, currency pairs traded, timeframes, etc. Whilst there are legitimate forex robots which have shown a good performance over many years, there are no guarantees in trading such is the nature of the markets. You should of course make sure the robot is running with a risk or lot size that you feel comfortable with and never ever trade more than you can afford to lose.

What is the best forex robot broker to use?

As mentioned above, the majority of forex robots run in the MetaTrader 4 platform, also known as MT4. You can choose from any MT4 forex broker depending on your specific needs such as minimum deposit, location, regulation, spreads, commission, account deposit/withdrawal options, customer support, trading instruments, etc. That being said, I find that ECN/STP brokers with low spreads and commissions, tend to perform better with forex robots. This is because of the liquidity providers they use which enable them to offer rapid trade execution speeds at the best possible prices. This can be a very important factor when trading with forex robots.

Choosing The Best Forex Robot
Choosing The Best Forex Robot

How to choose the Best Forex Robot?

Here we will take a look at some of the most important things to consider if you are looking for a forex robot.

Demo or Real account

Real trading account trading statement is better as demo accounts can have unrealistic spreads/slippage.

Drawdown

The lower the drawdown the better. This means that the forex robot is less risky.

Trading Days

The longer the forex robot trading account has been running, the more reliable the results. Some forex robots can do well for a few weeks or months due to dangerous money management methods such as a wide stop loss and eventually blow the account.

Profit Factor

The higher the better, anything above 1 means that the forex robot is profitable.

Monthly Gain

Rather than overall gain you should consider the forex robots monthly gain because this is more reliable for an overall review of the average gains. Why? Because if you just look at the forex robots total gain, it may have had a freak month that caused a huge gain compared to many other bad months.

Deposit & Balance

Of course, if the forex robot trading account statement has a current balance much greater than the initial deposit size, that means that it has performed well and the account has grown.

Back Tests

You can read my forex robot reviews to see if the forex robot has back tests which will give you a good idea how it performed historically, some forex robots even back test as for as 15+ years! Ideally, you would want back tests to have been done using real tick data and spreads, thus making the forex robot back test results as accurate as possible in the MT4 strategy tester.

Refund

You should also consider if the developer / vendor of the forex robot software is offering a refund guarantee period as most do. This will allow you ample time to test the forex robot and see how it performs for you, just remember in trading, we cannot win every day!

Setting Up A Forex EA
Setting Up A Forex EA

How to setup a Forex Robot?

Here we will look at how you can setup a forex robot on your MetaTrader 4 account. If you are already familiar with Meta Trader and have it installed on your computer, you can skip this section. If not, then please thoroughly read this section for instructions on how to install the Meta Trader trading platform and how to activate a forex robot.

Click here to download the free Meta Trader trading platform which we will use to run a forex robot. You will need to open a demo or live account to gain access to the Meta Trader 4 download.

After you have downloaded Meta Trader 4, followed the setup instructions and the installation is complete, launch Meta Trader 4.

When you launch Meta Trader you can login to your demo or real account. Click file – login and then enter your Meta Trader 4 account details.

In order to attach a Forex Robot to your charts within MetaTrader 4, you will need to place the required files into the correct folder of the MetaTrader 4 installation directory.

This section will describe where you should place the files ready for use. Please ensure you restart MetaTrader 4 after moving the files so that they will appear in the navigator window of the client terminal.

First locate the Forex Robot (ex4) file on your computer. Once located, move the Forex Robot (ex4) file into the “experts” folder of the MetaTrader 4 directory. To find this directory, go to the mt4 terminal and click file from the top left-hand corner and then click “open data folder”. From the data folder that has opened you must navigate to “MQL4”. Move the Forex Robot (ex4) file into the “experts” folder. Restart the mt4 terminal.

You should now see the Forex Robot in the “expert advisors” drop down menu of the navigator window within mt4. If you cannot see the navigator window load it from the main menu in MetaTrader by selecting the “view” drop down menu.

Now click “tools” in the MT4 main menu then “options”. Under the expert advisor’s tab make sure you have ticked only: Allow automated trading and Allow DLL imports.

You now need to open a chart to run the Forex Robot on. Choose any currency symbol and right click it then select “chart window” to open a chart for that currency pair. You can check the forex robot instruction manual to see what currency pairs the developer has tested.

You are now ready to attach the Forex Robot to the chart. Drag and drop the Forex Robot from the navigator window onto the chart. You will be displayed with a window. This window is where you set common expert advisor properties and the unique input settings of the Forex Robot.

In the common tab you need to enable the Forex Robot. To do so, tick the boxes: “enable alerts”, “allow live trading”, “allow DLL imports” and “allow import of external experts”.

If you have set the common setting of expert advisors correctly then a smiley face will appear in the right-hand corner which means that the Forex Robot is active on that chart. If you have clicked “ok” and have a sad face displayed in the top right-hand corner of the chart, this means that expert advisors are not enabled (the Forex Robot will not work).

To enable expert advisors, click the “expert advisors” button which is normally located near to the top of the trading platform. You may also need to navigate to “tools” from the mt4 top menu and select “options” then in the expert advisors tab ensure you have only checked the tick box for “allow automated trading” and “allow dll imports”.

Hopefully that will help you get a forex robot up and running on your trading platform!

Forex Robots Review
Forex Robots Review

Best Forex Robots Conclusion

In summary, there are many good forex robots included within the ranking table on this page. You should use the filters and sort the forex robots in the table to meet your requirements.

Some forex traders will prefer robots that have low drawdowns whereas other traders want lots of profit and do not mind the extra risk.

Of course, the longer a forex robot has been running on an account (trading days in the table) then the more reliable the results are likely to be.

You should also consider if the forex robot has a high profit factor, anything higher than a profit factor of 1 is profitable, the higher the profit factor, generally the better.

Finally, real trading account statements will tend to be more reliable as demo accounts can be liable to having unrealistic liquidity which means the slippage/spreads on the demo account may differ to the real account and thus this could affect the performance.

You can read my best forex robot reviews using the links provided in the table for more detailed information on how each forex robot works. You can also see my forex robots ratings list of all forex robots and their rating.

Happy trading!

*Results are based on historical data. There is no guarantee of future performance. You should understand the risks involved with trading. Different brokers can produce different results due to spreads and liquidity. Your capital is at risk. Beginner traders should research and learn about trading before using any forex software.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. A large percentage of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.