In this post I will be reviewing the iForexRobot copy trading service. iForexRobot is an expert advisor (EA) market place. An EA is also more commonly know as a forex robot which is a fully automated trading system based on pre-programmed algorithms that will constantly scan the markets and look for trading opportunities on behalf of the user.
The primary difference between the iForexRobot copy trading service and other similar services is that they allow the user to choose from a wide range of carefully selected expert advisors or MT4 indicators and trade it for free.
You can choose from the automated trading strategies running on accounts according to your own trading style and let it trade 24 hours a day, 5 days a week for you – at no extra cost. All you need to do is open a live trading account with a recommended broker and you have access to all the systems on the iForexRobot website. After your trading account is approved and funded, they will purchase and install the EA for you.
All of the featured forex robots are trading in real live accounts with regulated brokers. The iForexRobot team constantly monitors the expert advisors. You can start copying trading signals on a demo account to begin with which can be a smart idea to familiarise yourself with how it works before trading on a real account. Some of the recommended brokers can even offer a free forex VPS to run the EAs’s 24/7 around the clock.
It only takes a few minutes to get setup and the support team is constantly on hand and available to help you get started. Customer feedback from testimonials on the website and trust pilot reviews is currently very positive, showing there are existing users who are happy with the trading signal service. There are various trading strategies to choose from to suit different styles of traders. These include:
- Trend strategies
- Grid strategies
- Martingale strategies
- Price action strategies
- Scalping strategies
- Customized indicators (for manual traders)
The iForexRobot copy trading system works by plugging your MT4 account to copy other accounts running the available automated systems. Once you’ve connected your MT4 account you can then configure your own risk parameters to remain in control.
To open your account with iForexRobot you need to simply open an account on the iForexRobot website, read and sign the agreement if you are happy with it and connect your broker account with one of the recommended brokers. The support team is on hand to help you should you need them.