The general impression about forex trading is that it can help traders earn heaps of money overnight. But this is obviously not true. No, it doesn’t mean you won’t get a reward against your investment. But yes, you have to work hard to achieve your goals.
Forex market, because of its volatile and ever-evolving nature, demands ongoing research and analysis. Even if you’re a professional and experienced trader, taking time out from your daily routine just to keep an eye on price fluctuations and market movements can be strenuous.
For beginners and inexperienced traders, it would be nearly impossible to get hold of all the nuts and bolts of the trading world.
So, you have two options here. You could either spend hours and hours doing market research or invest in a better and faster option alternatively.
Yes, you guessed that right. We’re talking about forex robots here. This term must not be new for you if you’ve been working as a trader for quite some time.
What is a Forex Robot?
A forex robot is an automated program that depends on forex signals to rule out whether or not to buy or sell a currency pair at a given time period.
These robots are designed by the professional and experienced traders who’re familiar with the basics of the forex market.
Forex trading robots are readily available over the web. But similar to any other product, the risk of scam is huge when you buy a trading bot online for your trades.
Almost every product comes with a claim of 100% guaranteed results, which we must tell you is incorrect and impossible.
There is no forex robot out there that can guarantee the 100% result as it is obviously not possible considering the ever-changing nature of the forex market.
If you’re looking for the best forex trading robot 2020, you’ve come to the right place. In this post, we’ll be highlighting some of the tried and tested options so that you could make a better decision.
There are many options for trading robots
As discussed above, there are hundreds of thousands of options available when it comes to automated EEAs and robots. Also, if you closely observe their features, more or less they claim similar options.
But not all of them deserve your hard-earned money. If you’re looking for the best forex robot in 2020, you should do thorough research at your end. Luckily, this isn’t impossible taking into account the fact that everything is already available over the web.
We would suggest you first check out the official website of the products you’re interested in. From there, you can have a clear understanding of the product features, price, and other relevant information.
It would be great if you get an opportunity to talk with any team member from the developer’s team. Make sure you clearly discuss about the trading strategy and other features that they offer. Don’t forget to have a casual chat with the support team as this will give you an idea that how your queries are going to be answered in the near future (if you invest in that particular product).
In addition to that, you can also take guidance from the independent websites and review websites to know what your fellow traders think about that product.
Honestly, our approach was a little different from what all of us traditionally do to gauge the performance and credibility of the forex robot.
We use result and strategy analysis to determine which is best
We conduct a comprehensive result and strategy analysis to compare different products available on the market.
In some other post, we’ll shed light on how this analysis could be done. But concisely, what we do is to check and compare the trading results of various forex robots. We carefully examine accounts listed on Myfxbook, and also critically examine the trading strategy in-use by the forex robots.
We wanted to do an article on the best forex robot 2020 since the start of the current year. So, we decided to conduct this analysis again, and gladly the results are still the same as what we had last year.
Right now, the top two are Forex Steam and Forex Fury
We’ve been using Forex Fury and Forex Steam for the past 5 years. And we do this analysis every year in hope of finding anything equally good and competitive. But, these two options always thump out others.
Noticeably, both Forex Fury and Forex Steam have been designed by the same team of developers. The team FF and FS seem determined in providing the best value of money to the users.
What we loved about these products is the availability of their supportive and friendly customer care who’s always ready to answer our queries in no time.
Let’s have a quick look at both of these products individually so that you could get an idea that which one’s better for your trading style.
Forex Fury is best suited to GBPUSD on the 15 minute timeframe. The developers claim that their product deliver over 93% win ratio. Forex Fury was also ranked as the #1 EA in 2019.
Forex Fury is compatible with both NFA and FIFO. Also, it works smoothly with MT4/MT5 brokerage that backs automated trading.
This software is easy to install and use. Even a beginner with no prior trading knowledge can install and use Forex Fury without any difficulty.
The product boasts around 93% winning ratio with Myfxbook and assures 100% real-time automated results to the forex traders.
There are two packages available for Forex Fury. The Gold package offer 1 live account and is priced at $229.99. The Diamond package, on the other hand, offers 2 live accounts and it is available at an affordable rate of $439.99.
Forex Fury is great for those traders who want to experiment with customized settings. However, if you don’t want to change anything, it is good on its own.
Forex Steam is another effective automated solution that integrates Advanced Retrace Technology to guarantee good returns.
This product also includes a number of useful filters, including the holiday filter, news filter, etc. Forex Steam has a proven track record of more than 10 years and it is particularly popular for its free updates that all current users can have without paying any additional charges.
Forex Steam is priced at $117.99, which is extremely affordable considering the benefits users get along with the product.
Forex Steam works on a scalping strategy and provides users enough flexibility to experiment with their unique trading style.
Currently, this product have over 8000 active users.
And these features are just a glimpse of what you’re going to get as a package with your purchase.
This is why if you’re looking to really excel in the field of forex not only in 2020 but for the many approaching years, these products can be your safest bid.
Whether you’re a seasoned trader or a beginner, you can take help from these two useful robots in 2020 to up your trading game.
If you’ve already used any one of these products, we would like you to add to this list. Even if you haven’t used them yet, you can share your opinions and concerns below. We’d love to hear back.