Forex trading is the largest trading market in the World. Metatrader as a trading platform has opened the door for anyone with some programming knowledge to build their own forex trading robot. Many of these robots have then been pushed onto unsuspecting buyers with high-powered sales hype and wild claims of what they can do for you. So I have used my many years of experience with them to write a review on all the main expert advisors available in the market, and you will find that many of my reviews are brutally honest in my assessment of them.
The basic principle of forex software, whether you call them forex robots, expert advisors, EAs is all much them same. While some forex brokers have their own proprietary trading platform, many use a general platform called Metatrader. Metatrader is a free program that installs on your computer and communicates direct to one of the many forex data centers around the World and to your accounts with forex brokers. On top of this metatrader program or platform is where you install your forex robot. Your robot talks to metatrader, and metatrader talks to the markets and brokers.
Metatrader is maintained and updated by a central, independent company. You can download your copy free of charge from them. Or, usually you can get a copy from your forex broker of choice and they will have integrated their account systems with metatrader just to make things easier for you to install. It doesn’t matter where you get your Metatrader system from. Metatrader is the standard the all participating brokers use, and it is the standard all vendors of forex robots write their software for. It’s the glue that holds everything together.
Most expert advisors will trade fully automatically on whatever broker account or accounts you have Metatrader connected to. But some EAs will only trade with certain brokers, and some will only trade automatically if you pay the vendor extra for it. Forex Ambush 2.0 is one such an example. Unless you pay the vendor an extra $97 a month for the fully automatic version, the basic $197 program will only tell you what and when to trade – it will not make the trades on your behalf. Plus it will only trade with one broker – FXCM. Don’t be put off by that issue alone, it is a very good expert advisor.
After considering the issues of Forex Ambush 2.0, let’s now look a fully automated forex robot – the Forex MegaDroid. MegaDroid is the perfect entry level expert advisor for new forex traders. Because there is so much to learn about forex generally, MegaDroid lets you get into safe trading while you come to grips with forex strategy, forex trading software, all the new terminology and concepts. MegaDroid installs just the same way as all other forex software direct into your Metatrader platform. And it will let you open accounts with any broker – though it trades more actively the lower the point spread charged by the broker. It is conservative, and will earn its purchase price very quickly. And it will make nearly 98% successful trades alone the way.
The right forex review website can save you a lot of money and heart ache. The one thing in common with all vendors of forex robots is their sleazy sales pages. They will all try to trick you with claims of massive profits made automatically while you sit there and dream of how to buy new cars and holidays. They will lie to you, use false testimonials, and put pressure on you to buy now. They will use hype and appeal to your greed and laziness. You need to get past this nonsense and find the right review website that will objectively help you buy the right forex robot for you.
Stick with your decision to enter forex trading for profit. I strongly recommend forex trading software as part of your total forex strategy. If you are new to this, then you have a lot to learn but it is very worth your while. Find the right forex robots review site for you so that your research is meaningful and educational. Separate yourself from the normal emotions of greed and laziness by getting just the facts you need from the best forex review website you can find. It will calm your emotions, guide you to the right decision and save you a lot of time.
F0rexPhil has been Forex trading professionally for many years and testing forex trading robots and expert advisors. Forex trading software maybe the future for new online forex players as it is a safe way to learn. See his website for the best deal on automatic forex trading, forex robot systems and expert advisor EA software.
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