A forex trading robot, also known as an automated trading system or expert advisor, operates based on pre programmed algorithms and rules for executing trades in the forex market.

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Automated Forex trading brokers are the forex brokers who allow their clients to use trading robots for executing trades, automating all or part of the trading process. To this day, almost all forex brokers allow their clients to use either MetaTrader 4 or Metatrader 5 trading platforms, in which both platforms support trading robots. If you are looking for a broker allowing automated trading, you will probably have a very wide choice of brokers. However, you should not make any compromises on the other most important criteria, such as the security of your deposit and a healthy level of regulation. We prefer the best binary options software, like Binary Strategy, or even automated Forex solutions, like Forex Fury. As both of these systems are a little more straightforward and come with verified performance numbers.

Using forex trading robots provides serious currency traders with many advantages over the conventional method. For example, they can negotiate far faster than a human could, yet they are limited to follow the rules. They have the ability to evaluate and execute numerous trades simultaneously, something that is almost hard for one trader to manage. But speed is not their only advantage. Moreover, a currency-trading robot lacks emotion. They don’t jump the gun and buy everything at once or panic sell—they just do as you say. If they are trained correctly, they will just perform as you instruct and won’t make the emotional blunders that human traders often do.

Forex trading bots can either automatically perform an end-to-end trading process or generate an individual signal based on the programmed criteria. They can help you in trading – either fully or partially. If you have no time to review the trading signals, you can leave the entire process over to the robots. But if you have some time to review the trading signals, you can program a robot to only identify potential successful signals.

All forex trading robots can be used with MetaTrader (MT4 and MT5). They are programmed with the help of the MQL5 or 5 scripting language. Once you open an online forex trading account with a forex broker that supports MetaTrader, you can install the trading robots (Expert Advisors) to generate automatic signals.