How to choose a robot for trading on the Forex exchange, cryptocurrency

Trading robots , they are bots, are a special algorithm that comes to the rescue at times when you need to make a difficult decision. An automatic trader helps protect its owner from serious financial losses. Trading robots are able to act in the securities markets as a seller and a buyer. However, you should not think that the bot is a fail-safe mechanism, devoid of the right to make a mistake. Any program has not only advantages, but also disadvantages. Below you can find the main types of trading robots and a description of the best computer programs.

Trading robots: what is it and why is it needed

A trading robot is a computer program that can fully or partially replace a broker in stock trading. The automatic trader not only sets the algorithm, but also repeats the actions of the trader, independently tracking important indicators, and based on the specified conditions, the bot decides whether to make a deal or it is better to wait. A trading robot is a triune system that combines a trading terminal with a computer and program code. The difference between exchange bots is:

• restrictions on deposits/exchanges;
• behavior strategies;
• the sequence in which you can change the settings;
• short/top loss/take profit mechanisms.

Note! The bot is able to take into account the price movement of the asset, as well as to study information regarding the financial performance of the company.

Varieties of trading robots

Bots for trading on the exchange are of various types. Depending on the market, robots can be:

• Forex trading bots;
• CFD bots.

There is a division depending on the trading platform:

• MetaTrader bots;
• other platforms.

Thanks to the painstaking work of robot manufacturers, today a huge number of bots are produced that meet various requirements. Depending on the principle of operation, robots can be:

1. Indicator robots that work with the classic trading option based on the use of fundamental analysis indicators. This is the easiest option for users.
2. Indicatorless . This type of trading program is suitable for experienced players. Traders must raise rates until they win. In non-indicator models, technical analysis is not used.
3. News , which are programmed to search for key events from the news feed. The robot, after a thorough study of supply and demand, predicts the behavior of the market. In this case, the player must independently choose the optimal time period.
4. Arbitrage , in which indicators are not used, and technical / fundamental analysis is not applied. The trader must open / close positions, taking into account fluctuations in quotes.
5. Averaging , based on transactions on average indicators. A specific stop loss is not set. The program is able to think over the steps in the indicated direction, as well as open/end operations.
6. Multicurrency , which are considered the most expensive type of robot. The application is able not only to analyze the movements of various currency pairs, but also to insure risks under contracts through hedging. All losses will be covered by profit. Risks will be minimized.
7. Trending . Trend indicators are the basis of these robots. Trading will take place on the principle of searching for trend lines.
8. Flat , trading on the stock exchange within the horizontal price corridor, calculated by oscillators.

Also, do not forget about robots that open short trades. Such applications are scalping. Undoubtedly, the amount of each transaction will be small, however, the trader will be pleased with the impressive total income. This model is considered the most dangerous.

Why are robots posted for free

Often beginners in the field of trading are interested in why developers post robots for free. There is no catch in this, because free applications are less profitable and reliable when compared to professional versions, the use of which is only possible on a paid basis. The main goal of the manufacturer is to demonstrate the convenience of working with trading robots. As a rule, the creators of programs who have not yet gained enough experience to boldly sell their product, place it for a short period completely free of charge. The algorithm of such applications has not been fully tested. The profit will be minimal, or the trader will completely go into the red. These are the main risks and disadvantages of using free versions of advisors.

Features of choice

It is very important to take a responsible approach to the process of transferring your own capital to the management of a robot for trading on the stock exchange. Experts advise you to carefully study the functionality of the models you like and pay attention to the reliability and simplicity of the interface. When choosing an adviser, you need to familiarize yourself with its trading strategy, test the program on a demo account in order to determine the profitability of the assistant, and use the robot in test mode for more than 8 weeks, which will make it possible to evaluate the stability of the trading result.

Rating of the best trading bots for Forex and cryptocurrency

Below you can find the rating of the best trading robots, which will help traders make a choice, soberly assessing the advantages and disadvantages of each bot.

Cryptotrader

Cryptotrader is a cloud bot for automating trading strategies without software installation. The robot allows traders to work on any popular exchange. The trading bot is tested in real time. Depending on which plan is selected, the cost of the application will be calculated (from 0.0042 BTC).

aBOT (Arbitraging)

aBOT is an arbitrage cryptorobot. After the algorithm finds cheap altcoins, the robot will purchase them and sell them on another exchange at the best possible price. To get access to the bot, you need to register an account in the Arbitraging.co project. The only fee charged to users on the service is the transaction fee. The trader will be able to control the transactions that the robot makes. As an additional advantage, it is worth highlighting the provision by the arbitrage crypto robot of a cryptocurrency wallet, its own exchange and a semi-automatic bot.

Bitsgap

Bitsgap is a popular platform that supports the full functionality that is required for a full-fledged cryptobot (trading / arbitrage / signals / portfolio formation). To test the platform, you can use the demo version. Automatic algorithms minimize risks. There are paid and free plans. The latter set limits on trade volumes. The presence of a smart order and a significant number of supported exchanges are the advantages of this platform. The inability to choose the Russian language is a minus for Bitsgap.

Cap Club

Cap.Club is a platform for efficient trading. A trader can use a visual editor, a demo account that allows you to train your trading skills. You can use a version of the platform that does not require payment and does not have a time limit. However, it is worth remembering the limits set on the number of strategies. You can buy the PRO version for $30 (per month).

haasbot

Haasbot is a popular bot supported by a huge number of exchanges. The robot is engaged in automatic trading of bitcoins and other altcoins. A bot equipped with technical indicators requires the participation of a trader in the trading process. The cost of the program is 0.32 BTC (payments every 3 months).

Zenbot

Zenbot is a bot that is available for major operating systems. The platform successfully executes high-frequency trades and uses arbitrage opportunities, which makes the program popular with traders. The trading bot successfully carries out multiple multi-transactions with cryptocurrencies.

revenuebot

RevenueBot is a cloud-based robot that helps you automatically trade on popular exchanges. The Martingale-based strategy is breakeven. Round-the-clock trading, during which the API keys of crypto exchanges are used, is carried out from the cloud. There is no need to install software on a laptop/PC. 20% of the profit received must be given away by paying for the services of the bot.

BTC Robot

BTC Robot is a platform that supports major operating systems. For Mac users, purchasing BTC Robot will cost more than Windows users. A significant advantage of the platform is ease of installation and the ability to use a trial period with a 60-day refund policy.

gunbot

Gunbot is an exchange trading robot with many built-in strategies, including:

• Ping Pong;
• gain;
• Bollinger bands.

Depending on the set of functions, the cost of the tariff package will vary from 0.1 BTC to 0.3 BTC.

Leonardo

Leonardo is one of the new bots equipped with a pair of Ping Pong and Margin Maker trading strategies. The platform supports various exchanges, including Bittrex, Huobi. Installation is simple. The cost of a lifetime license is $89.

HaasOnline

Most traders use HaasOnline as their main trading bot. Thanks to the kernel algorithm, the software will gradually learn to take into account the wishes of the owner. Developers add new exchanges regularly.

PHP Trader

PHP Trader is a powerful platform used for Bitcoin trading and Ethereum. Before starting to use PHP Trader, the user will need to take care of creating an account on the Coinbase exchange. It should be taken into account that the platform does not perform data analysis and is not able to predict price trends.

Centobot

The service is simple and easy to use. The functionality is advanced, so the platform can be installed not only by novice traders, but also by professionals. There is no subscription fee. If desired, users can create their own robot.

Cryptobot v2.0

Cryptobot v2.0 is a bot configured for automatic trading of popular cryptocurrencies. The service is based on MAC and RSI technical indicators. Up to 300% per month.

Crypto Majors

Crypto Majors is a popular platform that works with top cryptocurrencies by type:

• bitcoin;
• Ripple
• Ethereum.

The service is based on technical indicators CCI and MACD.

Ethereum Rise

Ethereum Rise is a service that works on the Stochastic algorithm of technical indicators and CCU. The bot is based on Ethereum.

Cryptobot v2.1

Cryptobot v2.1 is a popular platform configured to trade with the most popular exchanges. The yield level is 250%. The work uses various trading indicators.

Altcoins Combo

Altcoins Combo is a service during which several altcoins are used. Risks are diversified by investing in multiple cryptocurrencies.

Era of Bitcoin

In order to start the service, you must register and wait for the verification process to complete. A significant advantage of using the Bitcoin Era is the emergence of the possibility of trading several cryptocurrencies. The only drawback is the presence of exclusively cryptocurrencies.

Bitcoin UP

Bitcoin Up is a popular crypto investment robot that automatically buys bitcoins when their value drops sharply and sells them when prices rise. The profitability of the service is high, however, the risks are also high.

bitcoin profit

Bitcoin Profit is a service with an algorithm that can track price changes in the market as accurately as possible. Bitcoin Profit performs automatic trading without requiring the participation of a trader. The only downside is the high risk.

Bitcoin Revolution

Bitcoin Revolution is software designed for automated trading. The service is absolutely free to use. Work can be started from $250.

EXMO WOT

EXMO BOT is a service that trades on all currency pairs. It is possible to trade the entire deposit or a small part of it. Individual settings apply for each currency pair.

BOT Trailing-stop Acceleration

BOT Trailing-stop Acceleration is a service designed for high-risk trades. Bidding is aggressive. More suitable for professionals.

BOT Smart SAR

BOT Smart SAR is considered to be a trend indicator that determines the change in the market trend and covers all trend movements / enters the market in a timely manner.

BOT Level Breakout

BOT Level Breakout is an equally popular trend indicator, which differs from previous bots by significant aggressiveness during trading. If the market volatility is low, the service will not open trades.

AUTO PROFIT 3.0

AUTO-PROFIT 3.0 is a grid, the profitability of which is in the range of 30-300% per month. The degree of reliability is high. The risks are average. The service can be used free of charge.

AUTO PROFIT 2.1

AUTO PROFIT V 2.1 is a grid platform with soft martingale elements. The monthly profitability of the service is in the range of 20-350%. The degree of reliability is very high, and the risks are low.

PITBULL V8

PITBULL V8 is a neural network type bot that works on several technical indicators. Training is carried out at the market on history. The amount of monthly profitability reaches 1000%. PITBULL V8 works very aggressively, trading in automatic/semi-automatic mode.

FOREX TREND RIVER 2.1

FOREX TREND RIVER 2.1 is a popular robot that trades with the trend and analyzes the market using technical analysis indicators. The amount of profit can reach 2000% per year. The algorithm is based on risk control.

Bot POLONIEX

POLONIEX is a bot that is focused on working on the POLONIEX and GUNBOT exchanges of the same name. The latter platform allows trading of multiple currency pairs.

SAFEBOAT

Safebot is a trading robot whose activity is based on the readings of indicators that give the necessary signal to start trading at a certain stage that was set by the trader.

IT FX

IT FX can be used free of charge, which is a significant advantage. When creating the bot, classical trading methods were taken into account, which are based on mathematical principles.

MAKLERS CLUB

MAKLERS CLUB is a robot that uses martingale. Despite the fact that the platform can bring significant profit, it should be taken into account that the bot often behaves inappropriately and is ready to drain the deposit for unknown reasons.

Abi

Abi is a trading software equipped with a couple of trading modes: manual and automatic. As soon as the robot has detected that the time to enter the market is approaching, it gives signals.

Daxrobot

Daxrobot is a popular service that requires accurate and confident decision making. The trader must take care of the starting capital. Even with a modest deposit, there is a chance to increase your own wealth.

Learn2Trade

Learn2Trade allows you to trade with a large number of major currency pairs, including EUR/USD. The subscription price will depend on the selected tariff plan and the duration of the bot use. Beginners can take advantage of a limited number of free Forex signals.

Forex Fury

The success rate of trading this service is 93%. The platform uses a trading strategy whose level of risk is low. The drawdown is less than 20%. The bot is compatible with various platforms.

1000pip Climber

1000pip Climber is the best robot for consistent and strong results. This service is easy to set up. 1000pip Climber is suitable not only for advanced traders, but also for beginners.

Generic A-TLP

Generic A-TLP is a flat scalping Expert Advisor that works successfully between 22 and 3 hours. On the eve of the release of financial news, experts advise turning off bots. This will allow you to achieve maximum profitability of transactions.

Equilibrium

Equilibrium is the perfect bot option for 24/7 trading. The currency pair settings are optimally selected. Based on bright signals, trading begins at small intervals. Equilibrium pleases users with stable income and minimal risks.

Funnel Trader

Funnel Trader is a free profitable Expert Advisor based on a short-term trading strategy. Hedging and portfolio trading allow you to optimize processes and minimize risks. It is best to use the Asian session to enter the market.

Trio Dancers

Trio Dancer is a bot that works on the Martingale principle. The robot is suitable only for experienced traders, because the risks of losses are high. Indicators are standard. It is important to ensure that the assistant has continuous access to the market. To do this, Trio Dancer is connected to a paid server. What robots help in trading, how to choose a bot: https://youtu.be/pqfIn0jQxn0

comparison table

The name of the trading robot	Paid/Free	Price	What exchanges are used to trade on the exchange
Cryptotrader	for a fee	From 0.0042 BTC	Any
aBOT (Arbitraging)	is free	–	Any
Bitsgap	Paid and free plans	0-110$	Bittrex, Binance, HitBTC, KuCoin, etc. (over 30)
Cap Club	Paid and free plans	0-30$ (per month)	Bittrex and Binance
haasbot	Paid	0.32 BTC (every 3 months)	Huobi, Poloniex, Bitfinex, BTCC, GDAX, Kraken and Gemini
Zenbot	Paid	$89 – the cost of a lifetime license	Gemini, Kraken, Poloniex, GDAX, Bittrex and Quadriga
revenuebot	Paid – transfer of funds for the services of the bot	20% of the received profit	Any popular exchanges
BTC Robot	Paid	$149 – for Windows users	Any popular exchanges
gunbot	Paid	0.1 BTC to 0.3 BTC	Bittrex, Kraken, Poloniex and Cryptopia
Leonardo	Paid	$89 – the cost of a lifetime license	Bittrex, Bitstamp, Bitfinex, Poloniex, OKCoin and Huobi
HaasOnline	Paid	0.035 – 0.085 BTC	Most popular exchanges + developers are constantly adding new ones
PHP Trader	Paid	The cost depends on the package.	Coinbase
Centobot	Is free	–	Binance, Poloniex and others
Cryptobot v2.0	Paid	0.1 BTC to 0.3 BTC	Only on the most popular exchanges
Crypto Majors	Paid	The cost depends on the package.	bitcoin
Ethereum Rise	Paid	The cost depends on the package.	Ethereum
Cryptobot v2.1	Paid	from 0.1 BTC to 0.3 BTC	Bittrex, Bitstamp, Bitfinex, Poloniex, Binance
Altcoins Combo	Paid	The cost depends on the package.	Any popular exchanges
Era of Bitcoin	Is free	–	bitcoin
Bitcoin UP	Is free	–	bitcoin
bitcoin profit	Is free	–	bitcoin
Bitcoin Revolution	Is free	–	bitcoin
OlympBot	Is free	–	Olymp Trade
EXMO WOT	Is free	–	Eksmo
BOT Trailing-stop Acceleration	Paid	1450 r.	QUIK (Sberbank)
BOT Smart SAR	Paid	3000 r.	QUIK (Sberbank)
BOT Level Breakout	Paid	19 900 rubles	QUIK (Sberbank)
AUTO PROFIT 3.0	Is free	–	METATRADER 4
AUTO PROFIT 2.1	Is free	–	METATRADER 4
PITBULL V8	Paid	1500 r.	METATRADER 4
FOREX TREND RIVER 2.1	Paid	2900 r.	METATRADER 4
Bot POLONIEX	Paid	0.1 – 0.15 BTC	POLONIEX V3
SAFEBOAT	Paid	4500 r.	Forex and CFDs
IT FX	Is free	–	Forex
MAKLERS CLUB	Paid	9 000 rubles for 3 months	Forex
Abi	Paid	The cost depends on the package.	Williams, RSI, TREND, Stochastic, CCI and MACD
Daxrobot	Is free	–	Forex
Learn2Trade	Paid	$25 per month	Forex
Forex Fury	Paid	$229	Forex
1000pip Climber	Paid	$299	Forex
Generic A-TLP	Is free	–	Metatrader: MACD, RSI
Equilibrium	Is free	–	Metatrader: MACD, RSI
Funnel Trader	Is free	–	MACD, RSI
Trio Dancers	Is free	–	Metatrader: MACD, RSI

Note! The robot works only when the terminal is turned on.

Pros and cons

Exchange trading advisor bots have both advantages and disadvantages. The advantages of trading robots are the ability to:

• saving time – it is enough for a trader to take care of downloading/testing the trading system, after which it will only be necessary to make changes to the settings from time to time;
• increasing the efficiency of TVO (trade and foreign exchange operations);
• trade facilitation – bots take into account a huge amount of information regarding the features of technical analysis;
• round-the-clock scanning of the market with Internet access without the intervention of a trader;
• exclusion of emotional errors in the implementation of the transaction;
• increase in income – the increase in the deposit is in the range of 10-150%;
• a wide selection of robots , which allows the trader to set up various profitable systems.

If a specialist takes care of the correct setting of the trading advisor, then the bot will not cross the risk threshold. The disadvantages of using trading robots include:

• a huge number of bots that make the selection process difficult;
• obsolescence of clearly defined characteristics that can no longer help in solving modern problems, so advisers will have to be systematically replaced;
• the inability of bots to respond to fundamental changes in the market.

It should be borne in mind that the risk of acquiring “left” software is too great. The use of such a robot will entail serious financial losses.

Features of use

After the process of downloading and installing the trading robot is completed, you can start using it. To do this, you will need to take care of programming the bot to perform certain actions. For round-the-clock trading, only strictly mechanical and not requiring participation in decision-making platforms are suitable. Despite the fact that the functions of trading advisors are very tempting, it is important for a trader not to become dependent on them, because trading should not be without supervision from a specialist trader who will always be aware of the latest news / conditions in the economy.

Installation Features

With the process of installing a robot advisor for trading on the stock exchange, even a novice trader can handle it. To do this, users:

1. Download the platform and if it is archived, unpack it.
2. Next, they look at the contents of the archive to make sure that the file with the .ex4 extension is present in it. If the files are divided into folders, you should look for the Expert Advisor file in the experts folder.
3. The adviser files are uploaded to the terminal. To do this, open Metatrader 4, click on the File button and select the Data Directory Open section. In the window that appears on the screen, go to the MQL4 folder and then to Experts.
4. The bot files are copied and moved to the Experts folder.
5. The navigator window is updated. The folder is closed and the terminal is restarted.
6. The installation process is complete. The name of the bot will appear in the Expert Advisors section. Users run it on a chart.

Installing a Forex trading robot (advisor) on MetaTrader4 (MT4): https://youtu.be/TJWFwDF-UKQ Most advisors have additional files that will need to be sorted into folders in the terminal directory:

• library files (.dll extension) are transferred to the MQL4/Libraries folder;
• settings template files with .set extension are copied to the MQL4/Presets folder.

Indicators with which the robot works in conjunction (.ex4 and .mq4 extensions) are transferred to the MQL4/Indicators folder. Today, there are many robots for trading on the stock exchange. It is quite difficult for novice traders to decide which bot to give preference to. In order not to make a mistake, you should familiarize yourself with the rating of the best robots, the description of which can be found in the article, and pay attention to the level of profitability of the bot in the past, the degree of risk and the openness of the system. It is also worth remembering that depending on one system is bad. It is better to connect at least 3 robots with different trading strategies.