⚖️ FOREX ROBOTS -COMPARISON TABLE
🔗 More: » Compare Signal Providers | » Forex Brokers
What is an Expert Advisor (EA)?
An Expert Advisor or else EA or Forex Robot, is a program that uses analyses and techniques like indicators, special filters, and rules. When all these tools agree on predicting a trend’s direction, a trade order is placed automatically. The trades can be either bullish or bearish, designed to work in any market condition.
📶 Key Features of an Expert Advisor:
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24/7 Trading: Trades around the clock without the trader needing to keep their PC on.
- Trading Multiple Markets: An EA can track and trade multiple markets at the same time.
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Trading without Human Intervention: The algorithm can open, modify, and close orders automatically without any manual input.
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Backtesting and Optimization: The EA can be backtested using historical market data to optimize the strategy. It can also be tested on a demo account before using real money.
📊 Compare Forex Expert Advisors
The following table shows a comparison of Expert Advisors (EAs).
Table: Compare Expert Advisors (EAs)
|
EXPERT ADVISOR |
MECHANISM |
CHARACTERISTICS |
COMPATIBLE PLATFORMS |
PRICE / VISIT |
|
■ EA Builder (Web-Based) |
■ CREATE INDICATORS FOR FREE ■ BUILD CUSTOM EXPERT ADVISORS ■ NO NEED FOR PROGRAMMING SKILLS |
■ Build your own 'customized' Trading System ■ Develop Free indicators and EAs for trading Forex, Equities, ETFs, and Commodities ■ Create Indicators and Robots without knowing anything about programming ■ Tens of built-in functions, including trendlines and time intervals ■ Alert via email, Audio, On-Screen |
■ MetaTrader4 | ■ MetaTrader5 ■ TradeStation | ■ NinjaTrader
|
■ Free for Creating Indicators ■ $97 for building Forex Robots > Free Lifetime Access
|
|
■ StrategyQuant Algo Trading |
■ BUILD FROM SCRATCH ALGO STRATEGIES ■ STRONG BACKTESTING & OPTIMIZATIONS ■ NO NEED FOR PROGRAMMING SKILLS |
■ Advanced strategy building without the need for programming knowledge ■ Unique backtesting and optimizing tools and methods ■ 4 operational modes: (building strategy, re-testing strategy, improving strategy, and strategy optimization) ■ External tick-data support and 3D Charting |
■ MetaTrader4 | ■ MetaTrader5 ■ TradeStation | ■ NinjaTrader
|
■ A full license costs between $990-1,490 ■ The StrategyQuant offer a free 14-day Trial > Free Lifetime Access
|
|
■ WallStreet Forex Robot |
■ FULL AUTOMATED ROBOT ■ 4/5 DIGITS
|
■ Can be used in 3 separate Forex Accounts and on unlimited Demo Accounts ■ The Strategy is based on minimizing Spreads ■ 7 Currencies are traded (EUR/USD, USD/JPY, GBP/USD, USD/CAD, USD/CHF, NZD/USD, AUD/USD) ■ NFA-Broker Compliant ■ 5-Min Chart |
■ MetaTrader4 | ■ MetaTrader5
|
■ It costs $299 > 3 accounts) and Omega Indicator worth $97 as a Gift
|
|
■ Forex Megadroid Robot |
■ SCALPING EURUSD |
■ Smooth Results and Selective Trading ■ RCTPA (Reverse Correlated Time And Price tag Evaluation) ■ Trading EUR/USD only ■ Popular among Forex Traders ■ Stealth Mode |
■ MetaTrader4 | ■ ZuluTrade
|
■ It costs $82.41
|
|
■ FAP Turbo Forex Robot |
■ SCALPING FOREX ■ PLUS A LONG-RUN STRATEGY |
■ Specialized in trading EUR/GBP and EUR/CHF ■ 2 Implemented Trading Strategies and extra Focus on Risk Management ■ Stealth Mode ■ 1-5 trades daily and target profit 6-10 pips ■ 15-Min Chart |
■ MetaTrader4
|
■ It costs $149 > Free Life Updates
|
⚙️ How Does an Expert Advisor Work?
(1) Opening an account with a Forex broker that supports EAs and offers tight spreads and fast execution. » Forex Brokers
(2) Installing the EA on your computer (alternatively, you can use a VPN).
(3) Depositing funds into the account and setting the EA’s money management parameters.
(4) The EA then starts trading by monitoring the market in real time and checking if conditions match its programmed strategy.
(5) When the criteria are met, the EA opens a long or short trade, setting stop losses, take profits, or trailing stops.
(6) Trades can be modified or closed at any time, and multiple trades can run simultaneously.
☑️ Advantages when Using an Expert Advisor:
- Removes the Limitations of Human Emotions
- Never Getting Tired
- Faster Order Execution
- Handles Complex Trading Strategies
- Easy to Backtest
❌ Disadvantages when Using an Expert Advisor:
- Does Not Adapt to New Market Conditions
- Requires an Expensive VPN
- Risk of Over-Optimization
- Vulnerable to Technical Problems
■ Forex Robots Comparison
Trading Center (c)
L MORE RESOURCES • COMPARE • GLOBAL MARKETS • FOREX PAIRS • OTHER ASSETS
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» Forex Market
» Equity Trading
» Commodities
» EURUSD
» GBPUSD
» USDJPY
» USDCHF
» USDCAD
» AUDUSD
» Historical Perspective on Gold Prices
» Crude Oil Trading
