Trading Robots: What Are They? Best Options in 2022
Anybody who wants to not only simplify the way they invest, but also increase their chances of success, will want to consider how they could use an automated trading bot to their advantage. As you can imagine from just this alone, these kinds of tools can most certainly be worth some consideration, especially if you’ve been searching for a way to improve how you go about your investments.
Here’s a closer look into why they could be beneficial for a broad range of investors, as well as which ones will be best for your unique trading needs, whether you’re interested in cryptocurrency or Forex.
What can trading robots be used for?
In most cases, you’ll find that these robots can be the perfect solution to streamline your trading activities – whether you’re just starting out or have a couple of years’ experience under your belt. This is one of the factors that draws many people in, as there’s no need to be an expert in investing to reap rewards.
Trading robots are tools that can allow investors to get into the market and make transactions without having to do the hard work themselves, with AI and smart algorithms making the most logical trades possible. Normally these algorithms are based on trading signals they are able to quickly spot in financial markets. This not only allows you to take a step back from trading, allowing you to focus your time and effort on more important things, but it also helps to improve your chances of earning a profit too.
While not all trading robots can be used for any kind of investment, there are several that are made to suit specific purposes. You will find many crypto-based auto bots, as well as several options for Forex trading.
Top 5 Forex trading robots
GPS Forex Robot
Taking advantage of innovative technology, GPS Forex Robot aims to provide its users with the best chance of making a profit on every trade. Featuring incredible algorithms, a variety of different trading strategies, verified gains of over 300% and much more, it’s often an excellent choice when considering the application of this kind of software.
You’ll also find that getting started with GPS Forex Robot won’t be too much of a challenge, with a minimum deposit as small as $100 (which is less than £80). All in all, it’s just a great site that you’ll want to keep in mind if you’re in need of a little help with your Forex investments.
Those who are looking for something suitable for beginners may just find that BinBot Pro is worth checking out. Overall, it’s incredibly easy to use and can be signed up to (via the website), on any smart device with access to a browser.
There are quite a few factors that further help to make BinBot Pro a simple yet effective tool for beginners in Forex trading; from transparency on the brokers that they’re partnered with (of which there are 5), to the claimed returns of 90% on trades. These factors alone will make it far easier for you to earn a passive income on your Forex investments.
While Forex Trendy won’t make the trades for you, it can help you to get a better idea of when to buy and sell – which could be perfect for those who still want to be involved in their investments without needing to put in as much time or effort. There’s nothing to download or install, since it’s a browser-based platform, which many will find to be convenient.
There are quite a few features that have helped to make Forex Trendy a good site; from its ability to scan the forex market for the best potential pairs, to the accuracy of the platform.
Combining the power of 3 different trading systems, Forex Diamond is a platform that utilises a self-updating algorithm to continuously provide a profit. While this trading robot may not always be the ideal choice for beginners, with a $1,000 minimum deposit requirement, there are a variety of things that make it worthwhile for serious investors.
For example, Forex Diamond offers the option to run Countertrend Scalping, Trend Retrace and other calculations to give you the best possible chances of making successful moves. To increase your potential, there’s also the 75-80% success rate, as well as a 40+ recovery factor.
For those who are willing to invest a little cash into forex robots, Coinrule is worth taking into consideration. From the high accuracy rates, to overall simplicity; it’s just an overall great auto bot.
You don’t need any trading experience to get started with this platform, although that’s not to say that it’s only suitable for beginners, with plenty of great features to assist even veteran Forex and crypto investors. Better yet, while Coinrule does charge a fee of $30 a month, you can take advantage of some of the services with a free starter account.
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If you’re looking for a way to make all this easier for you, you might be interested in checking out an automated trading robot. Crypto trading bots use advanced technology and AI to take care of all the hard work for you. As you can imagine, several advantages come with using these robots, which is one of the main reasons why so many individuals have turned to automated crypto bots for their trading needs.
One of the things that makes these so worthwhile for many traders, both new and experienced, is that those who use auto bots can often take a backseat and let the software take care of the majority of the work. When you consider that these platforms are often capable of reacting faster than any human, can process more information in next to no time and have the ability to scan the market for the best possible trades effortlessly, it’s not hard to see why they’ve become so popular.
There’s also the fact that it can help to take the emotion out of trading – a problem that many new crypto investors have to learn the hard way. Making an investment based on emotion is a common error, but one that you can completely bypass when leaving the work to a robot.
Other crypto trading robots worth trying
Pionex is going to be an excellent choice for a whole host of crypto trading needs, and for a wide range of reasons. From the 18 built-in trading robots, to the variety of additional features that help to make this platform even easier to use; it’s simply perfect for both experienced and beginner traders out there hoping to make waves in the vast and complex world of cryptocurrency.
You could check out the rebalancing bot if you want to hold coins, the Spot-Futures bot to take advantage of differences in the market whilst lowering risk, the 5x leverage of the Leveraged Grid bot, and much more.
While there are no costs associated with signing up, it is worth noting that a small trading fee is often applied. On the plus side, this is only typically 0.05%, so you really won’t have to worry about taking a cut to your investments.
Trality is an excellent tool for both beginner and more experienced investors alike. From a variety of pricing plans, to the opportunity for high accuracy; there’s a lot to love. One key aspect of Trality that some users may find appealing is the browser-based code editor. Anybody who knows Python will be able to utilise this tool to create the perfect strategies, thanks to the incredibly advanced and customisable editor.
Even with how advanced this particular code editor is, there is enough utility for beginners to make some use out of it, so it really is worth thinking about if you want to make the most of each and every investment.
Those who are keener on crypto arbitrage trading strategies may just find that Bitsgap is one of the best auto bots on the market. Even outside of this, there’s a lot that makes Bitsgap an excellent choice; from the demo trading features, to the fact that it’s often going to be a simple matter to manage all your crypto assets and investments on this site.
Bitsgap allows its users to connect to a wide range of exchanges (more than 25 in fact), all of which can facilitate automatic trades when using this platform. While perfect for arbitrage, you can also enjoy backtesting, tracking and portfolio management, which are all excellent perks.
You could even take advantage of their 14-day free trial if you want to get an idea of how the site works before deciding to commit, making it even better.
Another fantastic recommendation for many crypto investors is Shrimpy.io. Usually, individuals will find that this particular auto trader is just perfect for anybody interested in making the right trades, thanks to the fact that there are several account styles suited to different skill levels. Whether you consider yourself a beginner or a cryptocurrency expert, there’s a good chance that you’ll find an option that suits your needs.
Better yet, the prices are incredibly low and you can even test out your investments and strategies on the demo account feature. This can be worthwhile for anyone new to the site no matter their experience in trading, as familiarity with all the features and functions can get you underway sooner.
Last but least, we’d like to introduce you to 3Commas. This site gives practically anybody the opportunity to create their own unique trading bot, whilst also offering access to many of the major crypto exchanges. 3Commas offers so much potential for traders of any kind, which is why it’s generally a great choice for a wide variety of individuals. Copy-trading, portfolio analysis and support on iOS and Android are just a few of the things that you can expect from 3Commas.
It’s worth checking out, even if it’s not typically the most cost-effective of tools – although there are 3 different price options which may be a good idea to take into consideration.
Trading robots for MetaTrader 4
When it comes to investing in an asset like Forex, it’s no secret that MetaTrader 4 (simply abbreviated to MT4) is a popular place to trade. Several things have helped MT4 to become such a prominent name in the Forex market; from its variety of trading capabilities, to the fact that it’s free to use.
Many people will also appreciate the incredibly simple user interface, as well as the more technical tools and capabilities of the platform. Of course, there are plenty of individuals who are keen on the ability to use automated trading tools with this site. Using MetaQuotes Language 4 (MQL4), many individuals have created their own AI or algorithmic trading robots fully compatible with MT4.
As you can imagine, this is something that has offered a wide variety of opportunities for traders, both for the more technical and casual investors. Not only can you create your own trading bot if you have the coding knowledge, but you can easily go to the marketplace and purchase one that someone else has made. Blazzers Heist, Super Prime and Tesshinso are just a few examples of popular options, but feel free to do your own research.
Whether you’re looking to create your own trading bot to suit your specific Forex trading needs or you simply want to find a good tool to assist you in your investments, you’re likely to find something that will work for you on MetaTrader 4.
Trading robots for MetaTrader 5
Of course, we wouldn’t leave out MetaTrader 5 when trying to help you find the best tools for automated trading. While there are many people who still love MT4 to this day, there are certainly a few different things that help to make MetaTrader 5 a better option for certain individuals.
For example, MT5 is a multi-asset platform and is overall more powerful and typically a better choice for those who are more experienced in trading. Even so, both 4 and 5 are still relatively simple to use, so you shouldn’t have to worry too much about this (MT4 is known to be the easier one of the two). On the other hand, those who are after a higher level of control, customisability and features will often find MetaTrader 5 to be the best choice.
Just like with MT4, most individuals will find that there are several options for MT5 – with many individuals considering the MQL5 language to be an improvement over its predecessor.
There are quite a few things that make MQL5 a great choice for any individuals who want to create their own trading bots, like the opportunity to create even more advanced technical indicators and analytical trading bots. As you can imagine, this also benefits those who want to simply buy and make use of someone else’s tools.
Overall, anybody who’s looking to enjoy simplicity without having to sacrifice trading capabilities will find that a platform like MetaTrader 5 is a great choice. MetaTrader 4 is a similar case too, with many dedicated and loyal users who even prefer it to MT5, so a little research is often a good idea.
Which one is the best auto robot for you?
Typically, it’s hard to say for sure which one will be ideal for your own endeavours. While they will all certainly have their pros and cons, the choice will often come down to your personal preferences. How much are you willing to pay for these services? What kinds of strategies are you thinking of implementing?
For example, those who are keen on investing in both Forex and cryptocurrency are likely to find that a platform like Coinrule will be an excellent choice. On the other hand, crypto investors with Python experience are bound to find that a site like Trality will be one of the best. More experienced Forex traders with the cash to put into a tool with plenty of variety and features may find Forex Diamond to be the top choice.
The best thing you can do whilst trying to pick out the ideal tool for you is to simply consider what it is you’re in need of and how a particular platform could assist with those needs. You’re not even limited to the 10 choices above, so if you feel that none of them are quite right for you, you could always take the time to do your own research.
Quick tips to consider when choosing an automated trading bot:
In many instances, the best platforms will offer as much customisability as possible. This is worth keeping in mind, as this will often help you to tailor your trading experience to your needs; from the types of assets you want to invest in, to the strategies you want to implement
With a variety of different kinds of robots, from leveraging focused ones to those that employ arbitrage trading strategies, you should always have an idea of what you want when going into the market of auto bots
While not necessary to all investors, many traders with a little experience under their belt will often want to find a bot that offers both auto and manual trading options. Simply put, this will just give you the opportunity to take investments into your own hands whenever you want
When it comes to any trading platform, you need to make sure that it’s a tried and tested site. Consider how popular it is, how many users there are and the type of reviews they commonly get if you want a better idea of how much you can rely on them
Do you need a trading robot?
The short answer is that not everybody needs a trading robot to assist them in their investments. The biggest difference is that most can benefit from having one of these kinds of tools in their arsenal.
Looking into statistics, less than 40% of crypto investors use these kinds of trading bots – and you’ll often find that the numbers for automated Forex trading to be similar. This may make it seem like they’re not all that important, especially to those who are wary of putting money into a service they’ve never used before. This is especially true when you consider just how pricey some bots can be.
These types of tools can often be incredible for investors of any skill level and if you choose the right one, you’re sure to find that there are a wide variety of advantages that they can offer. From being able to scan the market for the best investment opportunities far quicker than any human could, to simply taking out a lot of the time and effort that trading often requires; there’s just so much that a good trading bot can do.
What are the general benefits of using an automated trading robot?
After all this, you might have a better idea of why they can be worthwhile – but knowing some of their many advantages is sure to seal the deal on whether or not you should use one. With that in mind, here are some of the most notable benefits you can expect when using any good trading bot for your investments:
In the crypto and exchange market, these tools will often trade 24/7, allowing you to earn income at any time
There’s no need to worry about human emotion influencing your trades, as all executed transactions are done based on the most logical actions
It will often be far easier to implement backtesting with these kinds of tools, which is perfect for those interested in trying out different strategies
Thanks to the advancements in technology, you can rely on the algorithms to be fast and efficient, often capable of far more than human activity
While these are just a few examples of the potential of trading robots, they should help to give you a better idea of why these kinds of platforms have become so popular among all kinds of investors.
How to tell the difference between legitimate and fake robots?
While there are certainly plenty of great websites out there to choose from if you’re looking to make a profit from your crypto or Forex investments, there are unfortunately a variety of scams out there too. As you can imagine, these aren’t always going to be easy to avoid.
Fake websites can make claims of amazing potential and profits effortlessly, and just as easily get away with stealing your money, so it really is essential you be careful while searching for a good platform. Here are a few of the things that are worth keeping in mind while choosing a trading robot:
Pay attention to the costs of the site
Typically speaking, if a website has unbelievably low fees (or even none at all), it may be too good to be true. While most platforms won’t be absurdly priced, they usually won’t offer all their services for next to nothing without good reason. While this isn’t a definitive point, as there are a few good bots with low costs, it’s often one that can be pivotal to your search.
Incredible claims that seem unlikely
Similarly, if you see something along the lines of ‘amazing profits guaranteed on every trade with no risk’, it’s worth thinking about how truthful these claims really are – since there’s no way to guarantee profits. All in all, these kinds of marketing tactics aren’t usually a sign of reputability and should be regarded with caution.
No proof of legitimacy
Most of the time, a genuine company will be able to offer at least some proof of what they have to offer. This could, for example, be in the form of a free trial, or even just checking to see if they’re registered with the necessary regulatory authorities. Legitimate trading platforms will often be able to back up their claims, so just keep this in mind while searching the market for your perfect crypto/Forex robot.
What exactly is crypto trading?
As mentioned earlier, cryptocurrency is essential to any ICO campaign – it wouldn’t exist without it. Even so, you could find yourself earning a decent profit just from trading. In fact, most crypto investors will make their money from trading alone, with many people in the community being sceptical of ICOs.
There are plenty of different platforms available where you can start trading, whether it’s an exchange or an automated trading bot that does all of the hard work for you (more on that later). There are also a wide variety of digital coins that you can trade with, offering you a diverse pool of investment opportunities.
How do you find the right trading bot?
After seeing just a few of the benefits that come with these platforms, you might be interested in using one to assist you in your investments. However, with the largely unregulated world of crypto, it’s not always easy to find a genuine site. There are simply far too many frauds and scams that you’re going to need to avoid, which might not always be easy for a beginner to do.
For the most part, the best thing you can do is research. Look around online for some of the different options and see what information you can find on them. There are plenty of review sites out there, which could make it easier to learn a little more about what to expect and whether or not they’re trustworthy.
Outside of legitimacy, factors like fees, accuracy rate, supported coins and any other features are all well worth taking into consideration. With so many different trading bots, it’s essential that you put in the time to find the best one for you, even if it takes a little effort.
Can I buy a trading robot?
Yes, the MetaTrader market has tons of auto bots and other useful tools to assist you in making your investments and finding success in your Forex trading endeavours. Better yet, it’s often incredibly easy to do too – all you have to do is purchase and install an application and you’ll be good to go!
Are trading robots profitable?
While trading bots may not be a bad idea for most investors, some may find that they’re far from perfect due to the risks and complications that can come with using them. With this in mind, it could be a good idea to do your research on some of the different bots available to you and what they could have to offer.
Is AI trading legal?
Yes, there’s no need to worry when using these kinds of tools for your investments. There isn’t any reason why an automated trading bot could cause issues in a legal sense, so you can implement one into your Forex investments without the fear of having it come back to haunt you later on.
As you can see from all this, there are quite a few different tools out there that could assist you in your investments; whether you’re a crypto enthusiast or more interested in trading Forex. We would suggest a site like Pionex for crypto investors, or GPS Forex Robot for those looking to invest in Forex, as these are overall two excellent sites.
Of course, we would also suggest that you at least take some of our other recommendations into consideration if you want a more well-rounded view of what’s on offer. The more you know, the more opportunities you’ll have of making the right decisions for your unique trading needs, so research is always going to be a worthwhile idea.
Is it legal to use trading bots?
While the legalities, regulations and even just general opinions of different kinds of investments may often vary from one place to another, especially when it comes to cryptocurrency trading, you’ll generally find that there are no rules against using trading robots to help with your investments.
How profitable are trading bots?
Of course, it’s important to ask if you’ll be making a consistent profit on your investments while using a tool like these. Usually, with any good trading bot, crypto or Forex, you’ll be able to rely on them to generate cash on your behalf. The more time and effort you put into testing and researching the market, the better chance you’ll have of being successful.
Who are trading bots best for?
These types of tools are generally popular among those who are just starting out, since the promise of smart AI and less effort are generally incredibly appealing to those who aren’t quite sure how to go about their investments. Of course, they can also be fantastic for those who simply don’t have the time to put into trading, or to maximise profits by using these tools to seek out the best possible trades.
How much can a beginner make with a trading bot?
While the amount you could make will often vary greatly depending on a variety of factors (from the tools you use, to the type of investments you’re making), most beginners will discover that they can make a decent profit from using a trading bot. Depending on the unique situation you’re in, you could potentially make £40 a day if you know what you’re doing.
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