Forex robots have changed the way forex traders interact with the market. These software programs automatically execute trades on the trader’s behalf, based on some pre-defined forex rules. While there are a myriad of EAs or forex robots in the market, not all of them are legitimate. The space has attracted illegitimate entities which have presented products only to take advantage of gullible traders. This makes it extremely important to select a reliable forex robot before you invest. While there are several authoritative sites that you can conduct research on, we’ve decided to prepare a list of 5 of the top forex robots to invest in 2022.
Forex Steam Ten
Forex Steam Ten is the updated version of the Forex Steam EA for 2022, which has added features such as trailing stop optimization, risk/reward adjustments, and max spreads. The EA can be used as a time-restricted scalper with a balanced risk profile to keep risks low. The maximum drawdown for the EA is at 10% as it just opens a single trade per day. Besides conventional indicators, the EA also uses different proprietary tools and indicators that help it to deal with small market shifts that occur.
Grandmaster EA
Grandmaster EA is a forex robot that is designed to mimic how big banks interact. It implements a grid-based strategy with a heavy focus on risk management. Grandmaster EA monitors oversold and overbought levels in the market in order to find reversal trade setups. After this, it opens multiple positions to hedge the market by using designated grid levels and a position multiplier. The EA is capable of trading with USD/JPY and USD/CHF on the H1 timeframe. It is available for a one-time purchase of $250 with no refund available.
Forex Cyborg
Forex Cyborg is a multi-pair forex robot that works on 15-minute charts. It applies neural networks and deep learning to ensure a positive win rate. The EA does not use martingale and allows users to choose from normal and conservative settings. Depending on the pair you choose, Forex Cyborg, open trades from 18:30 to 23:30 GMT. It is capable of working with USD/CHF, USD/CAD, GBP/USD, GBP/CAD, GBP/AUD, EUR/USD, EUR/GBP, EUR/CHF, EUR/CAD, EUR/AUD, CAD/CHF, AUD/USD, AUD/CAD and AUD/CHF.
Dragon Expert
Dragon Expert is a relatively new forex robot that is capable of achieving 60 to 100% profit per month. It is developed by David King, who is the head of technical analysis, along with MQL programmers. The EA plots the chart price in real-time between multiple time frames to find the best entry and exit points. It also uses a hedging function to find correlations between pairs. Other features provided by the EA include optimized settings, protection from brokers, advanced pair detection, hidden stop loss, no trade lagging, a time filter, and ECN broker support.
Forex Diamond
Forex diamond is one of the very few EAs which boats an amazing 40+ recovery factor. Created by the FX Automater group, the EA has some salient features such as dynamic trading logic, self-updating algorithm, high-frequency trading, high slippage protection, and profit protection. It starts by using trend retracing signals to search for profitable trades. It then watches for potential market reversals to take place.
It then applies a dynamic trading system that adjusts the trading parameters according to the trader using it. For a one-time payment of $297, you get an EA that is capable of trading EUR/USD, GBP/USD, USD/CHF, and USD/JPYon the M15 timeframe.
