The 8 Best Forex EAs For Potentially Lucrative Trades

Gone are the days when Forex trading was a realm only the technically proficient traders dared to enter. With the advent of expert advisors and robots, even novice traders can create a passive source of income. You might have noticed some famous personalities endorsing these systems, and even the social media platforms are flooded with advertisements from various vendors.

Seeing the rising popularity of EAs, many unscrupulous vendors are trying to sell their unproven systems just to earn a bit of cash. These robots may be supported by quality backtesting data, but they often fail in the real-time market, leading to substantial losses. 

That is why you should always do your research before investing in an EA. Here, we have compiled a list of software that will help you find the best Forex EA that suits your trading objectives and budget.

Below we have a list of reliable forex EAs. While there is no system that suits all, after going through the list, you can hopefully find the best Forex EA based on our profit outlook and budget. Remember, the Forex market is unpredictable, and none of these systems can help you get rich overnight.

1. TechBerry: The Best Social Trading Platform

TechBerry is the leading social trading service offering more than 10% gains each month. Subscribers can begin with as low as $5000 in minimum capital and have access to loss reimbursement starting from the green package. The platform allows participants to witness real-time trades and choose a personal manager. 

Big institutions can get further benefits depending on the size of their investment. There are no restrictions on any nationality, and subscribers worldwide can participate in the social trading platform.

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2. Happy Forex: Excellent Forex Trading System

Happy Forex trades using averaging strategy without the implementation of martingale. The algorithm implements a news filter to avoid trading during volatile and uncertain market conditions. Traders can adjust multiple settings within the EA, including spread, equity stop loss, stop loss and take profit. 

The developers of Happy Forex are keen to provide regular updates to the system to keep it working according to the current market conditions. The system can work on Windows 7, 8, 10, 11, Mac OS, and Linux on a Micro, Mini, and Standard account.

3. AX Trader: 100% Profit in Less than 3 Months

AX Trader is a beginner-friendly trading robot that can trade on multiple currency pairs using proper risk management. The algorithm utilizes Fibonacci intervals and trends to generate an average of 36% return each month. According to the developers, a $1000 deposit can be turned into $10149.94 within six months

A complete installation guide is available with each purchase, and a 30-day money-back guarantee is there for the peace of mind. The algorithm has already been optimized within the strategy tester, so finding the best set file is not required.

4. Forex Flex EA: 12 Different Strategies

This is a FIFO and NFA compatible system that works on both MT4 and MT5 platforms. You can use this system to trade in all currency pairs, and the vendor also provides regular free updates. Many traders consider it the best EA Forex because it can trade in any style.

With this EA, there are 12 different strategies to choose from. It also has a money management feature that protects your account from losses in case the market conditions change. There is a community forum for this EA where you can discuss trading strategies, and the vendor offers a money-back guarantee as well. 

5. Happy Frequency EA: Get 10 other EAs absolutely free

This is the best EA Forex robot launched by the Germany-based Happy Forex team. When you purchase it, you get the EAs Happy Forex Full Pack containing 10 robots. Happy Frequency can run on all types of accounts and is compatible with ECN brokers. It is also able to perform auto-quote detection of 4 or 5 digits. 

The vendor provides a complete user guide in English for this robot and also assists with the installation. With this EA, you can get started with as little as $15. It has proven performance verified by Myfxbook and a win rate of 81%, which is quite impressive.

6. Forex Truck EA: Advanced Risk Control Features

Without a doubt, this is the best Forex EA for the USD/CAD pair. It supports two trading styles, namely aggressive and normal, and the vendor has provided backtesting results for both styles, so you can see the performance for yourself. For its live trading account, it has a win rate of 58% and a low drawdown of 16.79%.

This EA uses stop losses and monitors the order statuses live. If the market conditions turn unfavorable, the orders are forcibly closed to minimize the loss. In case there is a loss, it opens additional orders with increased lot sizes to compensate.

7. Forex Gump EA: Trade win rate above 80%

This is a scalping bot that places a large number of trades on a daily basis, trying to take advantage of the minor price differences in the Forex market. Its risk-to-reward ratio is pretty impressive and it also has a money management feature that protects your account against unpredictable market movements. 

If you are interested in high-frequency trading, then this is the best Forex EA for you. It has a win rate of 88% for a verified live trading account and it can trade in 9 different currency pairs. For just $199, you can get access to a single live trading account. 

8. WallStreet Forex Robot 2.0 Evolution: 3 Bonus Robots Available

This is the best EA Forex in the market in terms of consistent performance. It has a long record of trading successfully on a live trading account that has a win rate of 79%. It is a product from the FXautoamter team that has been manufacturing Forex EAs for more than 15 years or so. 

WallStreet Forex Robot 2.0 Evolution has a unique broker spy module that protects your funds from unscrupulous brokers who might try to cheat you. This EA follows a low-risk scalping scheme that follows short and medium-term trends in the market. Another great feature of this system is the drawdown-compensating algorithm.

A Forex EA is a system that can open and close trades on its own, without manual intervention. These robots scan the Forex market with the help of instructions that are coded into them beforehand by the developer and trader. You can also use the best EA Forex to test the performance of a strategy that you have developed. 

If you wish to trade manually, you need to know how to perform fundamental and technical analysis. You need to make a schedule for following all relevant news related to the Forex market and constantly be present in front of your computer to observe the live charts for different currency pairs. 

This can be a tiring job, and eventually, you might give up on it, thus missing out on some profitable opportunities. But when you have the best EA Forex robot, you can relax and go on about your daily life as the system does all the work. 

A human being has limited capabilities when it comes to data processing, and they are prone to making the occasional mistake. This is not true for expert advisors that are able to process a large amount of information in a short span of time. 

Most of them work on trading platforms like MetaTrader 4 and MetaTrader 5. If you have the required technical know-how, you can build software of your own, or you can spend some money on a system developed by a reputable company. 

Usually, developers use the MQL language for building these automated trading systems. When you have an EA installed on your trading platform, you will receive a notification when there is a lucrative trading occasion. You can also program the EA to open a trade automatically without waiting for your confirmation. After it opens a position, it might employ some risk management measures like take profits and stop losses. 

There are some individuals in the trading community who are opposed to letting the EAs place trades on their behalf, so they just use them to scan the market conditions. The best Forex EA should have an in-built strategy that has been tested on historical data. Thus, when a system has decent backtesting performance, you know it can deal with sharp price shifts in the market.

While some of them are plug-and-play, others might require the trader to enter some input parameters prior to entering the trades. This largely depends on the person who programmed it.

Now you might be wondering about the various advantages offered by the best Forex EA. Let us look at each benefit individually. Hopefully, after going through these, there won’t remain a shred of doubt in your mind that expert advisors give you a serious edge over manual traders.

Benefit from experience

We talked about how manual trading can be a grueling affair, and how it requires you to study a lot of technical information and decipher them. If you have a day job, you certainly won’t be able to invest so much time into learning the ins and outs of forex trading, and it might take you several months before you can get the hang of it. With an expert advisor, it is not necessary to know how indicators and charts work. 

Available 24/7

As a human being, you cannot possibly stay alert 24/7 to look for trading opportunities. Unlike you, the best forex EA does not need to rest, can function throughout the day without pause. If you are a regular trader, you need to spend at least six hours daily observing the market and an additional three hours taking decisions based on your research. But an automated system can do this throughout the day, thus capitalizing on more opportunities.

Avoid emotions involvement

Often, while trading, human traders tend to get affected by emotions. A large win might make you overconfident and you may take huge risks with your future trades. Conversely, a losing trade can cause you to get discouraged and give up any hopes of making large profits. The best EA Forex robot runs on a predefined logic, so it can make decisions without getting influenced by emotions. 

Decisions made after researching

Since these systems do not need a resting period, they can scan the Forex market and conduct extensive research without requiring any input from your end. Of course, it is wise to concentrate only on the pairs that you wish to trade. If you wish to earn consistent profits, you shouldn’t try to gather information on all the available pairs on the market. Most EAs have the required processing capacity to monitor various markets simultaneously. 

Choosing the best forex EA is not as simple as it sounds and it requires some independent research. Alternatively, you can pay a developer to build a system according to your instructions. These days, you will find many vendors making unrealistic promises like an above 90% win rate. You need to know a thing or two about the Forex market to spot these scams immediately.

It is important to carry out a background check for the vendor you are planning to buy from. Some of them are quite reluctant to reveal important details about their system, so the lack of transparency is something you should look out for. There are several online forums where you find real users submitting reviews on different EAs, so you should check them out. 

It always helps to know about the experiences of real users, because they tell you what you can expect from the system. When there are many positive reviews for a particular EA, you know it will yield satisfactory results. 

While some vendors publish the trading results on third-party websites, it is wise to test the system yourself. You can try the demo version of the software first to see how it performs.