Forex trading gives you an opportunity to make a lot of money. Of course, making a lot of money requires a lot of work. You can’t really expect to work only a few hours a week and make a fortune in the process. How much do forex traders work?
According to a recent survey, only 8% of traders work less than an hour daily. A vast majority – some 52% of forex traders – work between 3 and 4 hours a day on trading. If you want to start making a living by forex trading, not only do you need to work hard, but you need to work smart.
What can be smarter than a robot? Of course, in order to make the most out of your trading, you need to pick the best forex robot at ForexRobotNation.com for your trading level, strategy, and style. Today, we’re going to help you do just that. Learn how robot brokers can help you and how can you find the best one.
5 Tips For Finding the Best Forex Robot
In theory, forex robots are great. They allow you to monitor the market 24/7, recognize trading opportunities you might’ve missed, and even make automated trades. Those are just a few reasons why these programs are so popular.
However, not all robots are made the same. To find what you want, you need to separate the good from the bad. Here are a couple of tips you need to follow to find the best forex robot for your trading style and achieve success in the market.
1. Do As Much Research As Possible
Right now, if you type “best forex robot” into Google, you’ll get over 3,270,000 results. Yes, there’s a lot of resources on forex robots out there. You need to make sure to go through as much of them as you can if you want to find the one that will suit you the best.
2. Find Vendors That Offer a Free Trial
Once you find a couple of forex robots, you need to make a shortlist and see how many of them have a free trial. If there’s no information about it on the website, contact the vendor. They’ll gladly give you a free trial if they believe in their product and don’t have anything to hide.
3. Read the Rules and Regulations Carefully
Never spend money on anything without reading the contact first. For example, you want the robot to have a return policy so if you’re not satisfied with it, you can ask the vendor for your money back. Avoid vendors that don’t have a return policy and/or promise large profits overnight.
4. Test Their Customer Service Right Away
No matter how good your robot performs, at a certain point, you’ll need some help with it. Maybe you want to find out about a certain function or find out how to re-program the robot. Test the customer service before you buy the product. Contact them and see how helpful they really are.
5. Only Work With Regulated Companies
You don’t want to deal with companies that don’t want to disclose their location or ones established in undeveloped, lawless parts of the world. Instead, looking for a company that’s located in a country with developed financial regulations like the US, the UK, or Australia.
5 Best Forex Robots for 2021
Knowing what to look for is just half the battle. If you’re looking at forex robots for the first time, you probably don’t know the flagship names in the industry. Do you know what are some of the most popular and revered forex robots out there?
If you don’t, you have no reasons to worry. We’ve done the initial research for you. Here are five of the best forex robots – in our opinion – that are extremely popular among traders. In no particular order, let’s start with…
1. Forex Gump
Beginner traders, as well as seasoned veterans, will find the use of Forex Gump. This user-friendly forex robot will give you the knowledge and analysis capabilities you need to bring your trading strategy to the next level. You can even use it on your mobile device when needed.
2. Forex Diamond
To provide positive trading results, Forex Diamond requires some user input. That means, it’s somewhat harder to use than our first entry. However, it’s one of the most reliable forex trading robots out there that utilizes the best scalping strategies.
3. DeltaFX
DeltaFX is the perfect solution for all of those traders looking to automate their long-term trades. The robot uses price action, momentum, and of course, volume to recognize the upcoming trends in the market. Also, it allows you to trade across several trading instruments, including stocks, cryptocurrencies, as well as currency pairs.
4. Forex Cyborg
What makes Forex Cyborg stand out among its competitors? For starters, the fact that it supports 18 currency pairs at the moment. Using Forex Cyborg doesn’t require any previous experience and doesn’t even need any personal input, which makes it perfect for first-timers.
5. StrategyQuant X
On the other hand, if you want to use a robot that allows you to fully customize it for your needs, look no further than StrategyQuant X. This robot has a useful drag and drop interface that allows users of all knowledge levels to customize it in accordance to their trading needs and desires.
The Bottom Line
Any form of investment comes with certain risks. You need to know those risks clearly if you want to minimize your losses and ensure profit. Simply put, before you start making any investments, you need to do your research.
Even the best forex robot can help you so much. It can’t do all of the work for you. You’re the one coming up with strategies and making decision decisions. Use your forex robot carefully and intelligently. Only then will you be able to make the most out of your trading efforts.
