The best forex trading bots (such as TruTrade) will guide you on profitable trades. When you set your parameters accurately, a trading bot can automatically trade for you.
The world of forex trading is ever-changing. Keeping up with movements of the currency marketing, news & world economics, and historical data of a particular currency can be hard.
But as a forex trader (beginners or experienced), you have to do this daily, because a second or minute delay could mean a loss of funds.
That’s why you need the perfect forex trading robots.
In this guide, we’ll show you 10 of our favorite automated trading software to help you maximize your profits.
5 Best Forex Trading Bots for Automated Trading
1. TruTrade.io
TruTrade.io is an automated trading software and bot. Retail traders can use it to trade and maximize profit in the securities market.
To get started with TruTrade, sign up for a free webinar to learn how the software works, then download it and start trading. It’s that simple.
With the TruTrade system, you get a number of different trading robots, including Market Ripper, which takes advantage of accelerating markets.
MAPRO Global lets you customize target levels, and trades on three instruments at once.
It also has a trailing Stop feature and can enter and exit trades based on three different types of entries: momentum, scalping, and momentum-based. The robots can be customized for each client.
While TruTrade.io’s robots can be used to generate income. In the case of forex trading, Market Ripper enables you to capitalize on accelerating markets.
The MAPRO Global allows you to customize targets and execute trades on three different instruments at the same time.
With this system, you can customize your trades for momentum, scalping, and trailing stops.
Get started with TruTrade here.
2. GPS Forex Robot
The GPS Forex Robot is a highly-rated robot that has a high rate of success. At one end of the spectrum, this system has generated large profits for many traders over a period of several months.
Unfortunately, it has also ruined many small accounts, as the users were naive to the risks and thought that they would see good results immediately. The truth is that you should only use the product if you know what to look for.
It is important to understand the risks involved before deciding to purchase it.
The GPS Forex Robot has a mixed record, attracting many mixed reviews from customers. Despite the product’s promise to generate big profits, the GPS Forex Robot tends to make relatively few trades.
This may not be enough to warrant a high price tag, but the robot has a very low failure rate, so you shouldn’t worry about that. This robot can also blow up a small account if the volatility is high.
The biggest disadvantage of the GPS Forex Robot is its tendency to blow up a small account.
However, it is very rare for a large account to blow up, and the GPS FX robot has a history of recovering from large losses.
It also makes use of a Martingale strategy, which is a great asset for those who are new to forex trading and don’t have the time to trade every day.
The downside is that the robot is more aggressive with its trading, but you can still recover your losses without much effort.
3. Coinrule
The Coinrule forex trading bot allows you to run rules on multiple coins at the same time.
This means that you can use a single rule to trade all the coins in your wallet or all the coins in the market at once.
This feature is convenient for novice traders who are still learning the ropes. It uses advanced security protocols such as TLS 1.2 and Cloudflare protection.
These features ensure that your account data stays safe even if the exchange system is under attack.
The interface is easy to use and lets you set up a trading strategy from scratch within a few minutes.
The dashboard will give you an overview of your trading system’s performance. This trading bot makes use of If-This-Then-That rule logic to make the experience as intuitive as possible.
This means that you can build your own strategies with Coinrule, instead of just following the software’s recommendations.
This makes it easier for you to get a general idea of what your system does.
Another important feature is that it supports more than 150 trading templates. You can build your own bot within minutes.
The customer support is responsive, and you can also unlock different trading templates based on your investment style.
For example, there is a Rebalance trend following bot, which reallocates your coins based on market performance.
The Coinrule trading bot can even handle complicated trades. In addition to this, you can create your own strategies by using the paper-trading option.
4. 1000pip Climber System
The 1000Pip Climber System trading robot is a forex expert advisor that trades 6 pairs over three timeframes and sends signals when high probability price movements are detected.
It is possible to set your settings to receive signals multiple times a day or only once a day. It can be set to send signals as frequently as every five minutes, and it also supports automated trades.
The software is available for both Mac and Windows, and it works on a range breakout strategy. It can also be configured to send signals only once or twice a day.
The 1000Pip Climber System is a very powerful EA that uses a complex algorithm to analyze market data and make trades.
This system has a simple, customizable interface. It also provides deep content for traders and is easy to use.
It has a verified account on Myfxbook, which is a good sign. Its creators claim to be making twenty thousand PPI in three years, which they achieved by implementing this automated system.
The 1000pip Climber System uses advanced algorithmic systems to analyze the market and find the best opportunities.
These algorithms analyze market data to find profitable assets and pinpoint exact entry and exit points.
You just need to make the decision and the robot will do the rest. It also provides a report that lets you know how much profit you made.
If you want to maximize your profits, the 1000pip Climber System is worth the cost.
5. ForexVPS
The ForexVPS trading bot can automatically trade in the Forex market. It allows users to manage their accounts from anywhere.
The remote access allows the traders to monitor their accounts and change trading strategies at any time.
The best part is that the users only need an internet connection to use the service.
However, there are many disadvantages to using this service. In this article, I’m going to explain some of the most important advantages of using this trading bot.
This software is based on VPS, or virtual private server, technology. This allows traders to operate their own copy of the operating system, which ensures optimal availability.
Once a trader has a VPS, they can install any forex software, indicators, or expert advisors they want.
But if the power is out or the Internet goes down in the middle of a trade, the forex robot won’t be able to place or exit the trade.
Another advantage of a VPS server is that it runs a computer system 24 hours a day. This means that you can trade at any time or place.
You can even use it while you are out of the office or if you’re on vacation. The ForexVPS trading bot also makes your trades faster than if you were to trade from your computer.
It’s best to run your Forex expert advisor on a VPS because this way, it’s faster than your computer.
Conclusion
In general, some forex trading bots are reliable because they were developed by forex traders and retail trading professionals who understand the market.
These software programs also use the latest technology to find the most profitable trades — and both beginners and experienced traders can use a trading bot such as TruTrade.
You don’t need to be an expert with prior knowledge of forex trading to effectively automate your trading.
When you use TruTrade, for example, all you have to do is to utilize predefined settings or add custom settings, and you can start maximizing profits daily.
More experienced forex traders will benefit from a ‘true’ trading bot or system — since they can adjust settings to adopt a riskier approach, such that they’re able to set the ‘stop loss’ to maximize profit points.