![Форекс-советники – это автоматические роботы для торговли на рынках.](https://static.ifxdb.com/static-content/518/qjOS9_800.jpg)
Find out more about Forex Advisors and learn how they function in our article Forex eas. And now let’s discuss the most popular EAs for forex trading. Pick the best one for you!
Nowadays, newcomers don't have to worry about not being able to navigate the vast world of global financial markets. Tons of books and educational videos and webinars are here to make the life of beginner traders easier.
There is one more tool that comes to the rescue: automated trading systems. These robots, or expert advisors, can trade by themselves without the trader's actual involvement. These algorithms open and close trades based on the settings you define in them.
So, all you need to do is to configure the settings of an expert advisor in the trading platform. This article is devoted to best Forex advisors and features some tips on how to choose your ideal trading robot.
Top Expert Advisors on Forex
We will start the overview of trading algorithms with the SkyPlay system. It is best suited for trading EUR/USD and GBP/USD on MetaTrader 4. The system uses several indicators on M5 and H1 time frames. Developers recommend avoiding AUD/USD and the yen-based pairs.
SkyPlay offers multiple setting options, and its intuitive and user-friendly interface makes it easy to read for both beginners and professional traders.
Yet, despite the fact that SkyPlay was originally developed for scalping, the trading system allows opening only one trade per day during the European session. So, the trading time in the system is limited between 7 am GMT and 2 pm GMT.
TopGun is another popular trading advisor. Although it was developed 10 years ago, it is still widely used by traders from all over the world.
TopGun is created specially for trading EUR/CHF on the 15-minute time frame and requires at least a $100 deposit on a cent account. This system applies the Martingale strategy.
The trading system uses Bollinger Bands to open trades. Positions are executed at the moment of a breakout of the upper or lower boundary of the trend channel.
Among its disadvantages is the so-called averaging option. In other words, if the price of an asset moves against the open trade, the trading system will add three more orders of a bigger size.
If the price keeps moving in the opposite direction, the robot will close positions with a maximum loss of 240 pips. These are built-in settings of the TopGun system.
Among the top expert advisors is the Gepard trading robot designed to trade on multiple accounts with different currencies. It can be used to trade any currency pair but EUR/USD and GBP/USD are considered to be the best options for this trading system.
The expert advisor combines several strategies such as flat trading, trend trading, scalping, etc. The algorithm employs signals generated by several popular indicators, including the Parabolic SAR and Stochastic.
One of the main advantages of this EA is that you can customize settings the way you like: set filters, manage risks, etc. Besides, you can add trade volume by applying the Martingale strategy.
Unfortunately, sometimes, beginners go in blind, hoping to reap huge profits. However, such recklessness often results in drained deposits.
Cash Profit is another trading robot among our top picks. The trading algorithm tracks volatility on Forex based on the two most recent quotes. Its functionality is not limited to a certain indicator.
The algorithm is based on the principle of consecutive trade execution. In other words, the robot can not deal with several trades simultaneously.
But this is not necessarily a disadvantage. Indeed, the number of trades executed at a time is limited. On the bright side, this system does not require large deposits which is why risks of a big loss are also limited. EUR/USD is the preferable currency pair to trade with Cash Profit. The advisable time frame is M15.
Cash Profit is immune to temporary connection disruptions and can work in different market conditions. This is what makes Cash Profit one of the top expert advisors to use on Forex.
Depending on market conditions, this trading advisor deploys different methods such as scalping, trading on pullbacks and corrections, and trading with the trend.
Despite the versatility offered by the Cash Profit trading systems, bear in mind that it implies three different trading strategies, and each of them requires a different approach. So, a trader has to configure settings every time the strategy changes.
Some traders hope that the trading advisor will automatically recognize a change in the market and adjust to it. However, the robot is not able to distinguish between a flat movement, a trend, or a pullback. Such an unawareness may result in big losses.
![Главное преимущество роботов – мгновенная реакция на изменение рынка.](https://static.ifxdb.com/static-content/518/RBwUa_800.jpg)
Cobra is another great trading advisor on the list. It is notable for its usability and simple interface.
The underlying algorithm is the simplest one among all other existing trading methods. Cobra opens transactions based on the signals generated by the moving average.
If the price is above the MA, it opens a sell trade. When the price reverses and moves down, the robot closes positions at Take Profit.
If the price is below the moving average, Cobra opens a buy trade. All a trader needs to do is recognize the moment of a reversal.
So, this trading advisor is mostly suitable for those who are looking to define a trend momentum and a pivot point rather than just change settings. They need to make a precise forecast and adjust parameters.
On the flip side, trading based on just one indicator can be risky and may result in losses.
Another disadvantage of Cobra lies in its constant streamlining. Created in 2010, this best Forex advisor has more than 10 new versions today.
Pallada is definitely one of the most unusual algorithms in our rating. It is a trading system rather than just an expert advisor.
Strictly speaking, this is not a trading robot since they can operate without any supervision from a trader. Pallada, on the other hand, requires full involvement and cannot be used on its own.
Let’s discuss this advisor in more detail. The system integrates 11 indicators and 1 key algorithm which moves a Trailing Stop to the breakeven point and closes trades following the pre-set parameters.
The system is designed to trade certain currency pairs such as EUR/USD, USD/CHF, USD/JPY, CHF/JPY, and EUR/JPY on M15, M30, and H1 time frames.
At the start, traders need to choose a starting template and set indicators on the chart. All tips for installation are outlined in the attached PDF guide.
According to the guidelines, a trader is fully responsible for correct and timely order placement, its opening and closing. All trades are opened manually.
Positions are closed at a Trailing Stop. However, to define the best time for opening or closing a position, traders will need to refer to special tables from the help file.
Therefore, Pallada is not a fully automated system. Although this expert advisor provides signals, traders need to evaluate them before making a decision. Besides, orders are placed manually and all transactions should be monitored.
Forex Fury is one of the top most reputable forex advisors created over the past 10 years. This is a fully automated system based on the scalping method.
With Forex Fury, you can trade seven currency pairs at once and keep trades open for long. Program developers claim that the robot considerably minimizes risks, ensuring that a drawdown stays below 20%.
The algorithm boasts special filters that secure against unfavorable market conditions. Good news for MetaTrader lovers is that Forex Fury is compatible with both МТ4 and МТ5. The system uses the M15 time frame.
One of the strong sides of this trading system is its adaptability to the constantly changing market environment. Forex Fury appeared in 2015, and in less than 8 years, it has undergone 60 updates to become even more convenient for traders.
The number of demo accounts is unlimited. The creators of this robot claim it has a 93% win rate.
The Forex Fury trading robot is a great choice for novice traders as well as professional players. It takes less than five minutes to install and goes with an installation guide and video instructions.
![Forex Fury – один из лучших советников для торговли методом скальпинга.](https://static.ifxdb.com/static-content/518/WTiCI_800.jpg)
BF Smart Scalper EA has been included in the list of top trading robots thanks to its well-elaborated strategy based on scalping. Usually, scalp traders have to filter out false signals in order to find the real ones.
To achieve this goal, they apply more and more various algorithms which make the trading process even more complicated.
This can hardly be done manually, so specially designed scalping robots come to the rescue, with BF Smart Scalper EA being one of them.
This automated system looks for strong market movements and disregards minor fluctuations, thus maximizing the efficiency of the scalping method. It enters the market only when it sees strong momentum.
BF Smart Scalper EA can be easily optimized. It supports the following currency pairs: EUR/USD, GBP/USD, and USD/CHF. The default settings are for GBP/USD.
It includes all time frames but M1 and M15 are most preferred. You can backtest the EA on the M1 chart by “open price only”.
Its clear and reliable algorithm makes BF Smart Scalper EA a great choice for scalping. The trading robot can be downloaded via online markets or with the help of installation files.
After installation, you need to restart the trading platform, otherwise, you won’t see the EA in the Navigation panel.
BF Smart Scalper is compatible with Mac OS and Windows.
The creators of our next trading robot gave it a name that speaks for itself - Forex Best Bot. Indeed, it is a highly-rated trading algorithm with a simple user interface.
In the settings, you can see two versions of the robot: the classic one and the one in the dark theme. They only differ in design, so choose the one to your liking.
Forex Best Bot operates using moving averages of different periods. This makes it multifunctional and suitable for trading almost any currency pair, given that you make the right settings.
The trading robot shows best results when trading EUR/USD on the H1 chart. It is not designed for scalping which requires instant execution. The Martingale strategy is not available here as well.
At the very beginning, Forex Best Bot was sold for several hundred dollars. A few years later, developers made it completely free of charge.
Due to this, the EA was not included in the MetaTrader 4 library of technical indicators. That is why it can only be downloaded through the data directory. Upon installation of the robot, you will need to reset the trading platform to see the EA on the list.
Some traders prefer non-indicator trading systems to standard expert advisors. All grid trading strategies and averaging trading methods are based on the non-indicator approach.
This allows traders to eliminate numerous false signals and makes the process easier for those who don't have much experience or a ready-made strategy. So, Drovasek EA is the best pick for such traders.
![Робот Drovasek EA позволяет зарабатывать даже трейдерам-новичкам.](https://static.ifxdb.com/static-content/518/dsYJu_800.jpg)
This automated trading robot is based on averaging and grid trading strategies which allows it to adjust to various market conditions and trade any currency pair on any time frame.
Its main advantage is a simple and flexible system of settings, meaning that you can customize any parameter of the averaging strategy. Besides, users can configure parameters depending on their deposit size and the maximum allowed drawdown.
Drovasek EA is not included in the MetaTrader 4 library of trading advisors, so you can use the data directory of the platform for installation. Upon completion, the robot can be found in the appropriate folder.
After that, you will need to restart the platform to see the robot in the EA list. Drag Drovasek EA on the chart to launch it and configure some basic parameters (risk/reward ratio) to start trading.
Bottom line
Today we have reviewed some top trading advisors used in the global financial markets. You have learnt about automated trading algorithms and their distinctive features, including strong and weak sides.
All the above-mentioned trading robots have different requirements and settings. However, there is one thing in common: they lack emotions, and, therefore, do not make hasty decisions - the main enemies of traders leading to lost deposits.
Importantly, a trading robot is not a magic wand. To maximize your results with automated trading, you need to study it carefully and consider all pros and cons, including possible bugs.
We hope that this article about top best Forex advisors will help you choose an ideal trading robot out of those available on the market.
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