There are many people who are making a living off the market – this can be any market, but in this case Forex Trading Robots. And if you listen to their story they might tell you many tips and techniques as to how they became successful.
But to make it in the forex market, there are many factors you need to keep in mind; such as the trading platform that you choose or the broker you sign up with. Yet another equally important choice is the choice of trading robot.
You can opt to start trading with a forex trading robot in order to optimize and automate the process of trading to yield maximum results.
To make things easier for you, we want to discuss the top rating forex trading robots in 2024.
XauBot Automated Trading Solution
First on our list of top trading bots for 2024 is XauBot.
XauBot is an automated trading platform that offers different services to their users. What makes XauBot stand out? First and foremost you can trade all currency pairs in the forex market with the help of this expert advisor.
This is crucially important, because many of the other automated trading options in the market do not offer such a comprehensive scope in their trading approach. Furthermore, XauBot has been developed with the help of artificial intelligence in order to offer users a smart and AI-driven experience of automated trading.
What does it mean for the end user? It means many of the processes of this expert advisor are driven with the help of artificial intelligence. This includes risk management and also trading strategies themselves. XauBot is able to constantly monitor the market and adjust itself according to the conditions that are currently relevant.
Also, XauBot boasts itself of being able to offer a win rate of 80% to 90%.
Another advantage of XauBot is that it is an expert advisor developed for the ever popular trading platform MetaTrader 4.
As you know MT4 is regarded to be the best trading platform when it comes to the foreign exchange market. But of course the same is true for many other trading robots below. Let’s take a look at the other ones.
Forex Fury
Second rank on our list is the trading robot Forex Fury. This bot is one of the oldest platforms available in the market. One of the biggest advantages of this bot is the fact that it has been verified by third party audit websites such as Myfxbook.
On this website, and on other similar audit websites, users can go and see how the performance of a trading bot has been tracked. They can see the past performance of the bot for however long the performance has been tracked. In this way you can see what results Forex Fury was able to obtain.
So the biggest competitive edge of this trading robot is its experience and long standing presence among traders.
On the other hand, Forex Fury has been able to yield excellent results with regard to win rate, which is a figure showing the percentage of winning or profitable trades in the bigger scheme of the trades executed. As such Forex Fury reportedly offers users a win rate of more than 90%.
Also, there are no minimum account sizes, which means no matter how small or large your initial equity might be, you can still start trading with this robot in the forex market.
On the downside, according to the reviews by some users, the price of forex fury is a bit high.
You should read: Common Technical Challenges in Forex Robot Trading
Forex Gump
Third on our list we have the Forex Gump, which in no way has stolen its name from an enormously popular motion picture from the 90s!
But plagiarism aside, this trading robot has been able to make a name for itself among other bots in recent years. So what put this bot on the third spot?
There are certain user friendly features and options available with this trading robot that have made it popular among traders. For instance, this trading bot offers 24/7 customer support services. At the same time it also offers demo accounts so that users can test the bot in a controlled environment with the help of virtual assets.
Additionally, this forex trading robot offers a 30-day money back guarantee to all users, which also explains the popularity of this bot.
On the downside, though, there are quite a few things that are undesirable. For instance, the demo account that we discussed is not available for free, you have to purchase the bot first and then be able to trade with the demo account.
Furthermore, Forex Gump only supports nine currency pairs, which is a huge limitation for traders.
You should read: Understanding Algorithmic Trading Robots
Forex Trendy
Next trading robot on our list is Forex Trendy.
The pros of this trading robot include the interface of the bot that has been developed in order to be the most friendly it can be for traders. These features made available in the interface include customizable settings for the timeframes of the chart and also numerous different alerts and notifications, all of which can help traders yield better results in the market.
Forex Trendy also allows traders to trade up to 34 different currency pairs, which is still a pretty limited number compared to the number one choice on our list.
The cons of this trading robot are not negligible at all. For instance, this trading bot does not offer live customer service, which means traders might have to wait for the help they need for extended periods of time.
EA Builder
Last but not least we have the EA builder platform, which is a platform that allows you to develop your own expert advisor and trading strategies, also trading indicators.
With the help of the EA builder you can take things into your own hands and develop the tools you need for trading yourself. Although you might need to have a bit of programming background to work with such tools. But at the same time these platforms are getting more and more user friendly.
You should read: Maximizing Profits with Automated Forex Trading Robots
Conclusion
Trading robots are becoming more and more popular among traders, since they provide them with a way to automate their trading process and be able to obtain steady profits. In this article we provided you with some of the top trading robots in 2024 so that you can make a better decision and benefit from algorithmic trading.
