|Product/service||Type of Product/service||Cost|
|GPS Forex Robot||Forex Expert Advisor||$149 per license|
|WorldMarkets||AI Managed Trading Accounts||$2500 Initial Deposit|
|ForexSignals||Forex Signals and education||$97/monthly|
|TransparentFXTrading||Forex signals/Funded Accounts||Varies accordingly|
|Bizintra||Signals & Trading Education||£99/monthly for signals, £199-£999 for trading education|
But do remember….. a Forex broker can make or break your trading. Therefore, if you’re looking for a good trading experience where you enjoy real ECN, low or tight spreads and leverage of up to 1:200, FXchoice should be your best bet.
How to find the best Forex robot
(a) Trading performance
While trading performance cannot be used to judge how a Forex robot will perform in the future, it can be used to give traders an overview of the expected performance.
Most reputable Forex robot developers have a myfxbook account or at least an FXBlue account which they use to demonstrate the success of their projects.
If a Forex robot is backed by any of these proofs of performance, it is a good sign that the developer is taking their work serious and have nothing to hide.
(b) Low draw down
The best Forex robot will have a reasonable draw down. We’re not saying that draw down is a bad thing or that it is possible to trade without this setback.
In trading, there are times we will win and times we will lose. That’s just ow trading is and we cannot avoid it. Good draw down is between 10%-20%. Anything outside these numbers would mean that the developer is risking too much or is not using proper risk management practices in their Forex trading robot.
The developer has to find a sweet spot between quality and pricing. The best Forex robot will be affordable to the masses in general or at least the developer could create a plan that fits all traders with different pocket levels.
Most Forex robots start at $200 (this is considered the average price) but we’ve seen other automated Forex tools costing as much as $2,000.
If a developer believes that they have the best trading tools and can demonstrate it, their pricing model should accommodate even that trader who wants to test the robot for $200.
They restrict the number of licenses and price them accordingly.
(d) Track record of the Forex robot developer
If the developer is well known and has a track record of creating and updating their robots regularly, this could be a good sign that you are buying from a reliable FX robot developer.
It’s easy to find out whether the developer has a track record or not. A simple Google search will do it but even our blog will educate you on whether a particular robot developer has a track record.
With the above methods, you will not have trouble trying to find the best Forex robot. We have made your work easier by giving you links to some of the best trading tools. We know that you will not disappointed.
Most of our readers know that we protect our traders here. Have fun trading!