(Newswire.net — December 10, 2021) — Forex Robots or Expert Advisors have emerged as an essential tool at a trader’s disposal. These software programs take the help of trading signals to execute trades on the trader’s behalf. The market is filled with EAs at the moment, with many being found in MetaTrader’s marketplace. While many are available for free, others are paid services. Some traders prefer to keep their initial investment at a bare minimum such as a few hundred dollars. We have thus prepared a list of 5 FX EA Reviews for forex robots at under $500.
-
Champion EA
Champion EA is a forex robot that trades by searching for optimal entry and exit points. The team behind the EA has constantly put the software under numerous tests to get the desired results, with added protection features. The EA uses a new filter that helps avoid random trades during unpredictable periods. It works with AUD/CAD, NZD/CAD, EUR/CAD, GBP/CAD, and AUD/NZD. While the forex robot is not sensitive to slippage an ECN broker is recommended.
-
Blazing Night Scalper
As evidenced from the name, Blazing Night Scalper is a scalping EA that works best with a low spread. This EA works with more than 20 currency pairs. However, it trades only at night, focusing on the following pairs: AUD/CAD, CHF/JPY, EUR/AUD, EUR/CAD, EUR/USD, GBP/AUD, GBP/USD, USD/CHF, USD/CAD, and USDJPY. This scalper works by looking for the lowest spread of the night hours and finds an entry point based on recent highs and recent lows. It does not apply to any martingale or grid trading.
-
Nagarot Portfolio
The Nagarot Portfolio is a collection of multiple trend-following multi-currency trading systems based on principles of volatility breakout and breakouts of support/resistance levels. Unlike other EAs, it does not trade every day or every week but rather makes rare, but accurate entries, by leveraging trending movements. It works with four of the most liquid pairs such as EUR/USD, GBP/USD, XAU/USD, and USD/JPY. The EA has stated clearly that it does not use any risky money management methods which are associated with martingale, grid, curve fitting, and artificial win rates.
-
EA Bionic V3
EA Bionic V3 is based on Syntax trading which uses 4 elements: Price discrepancy, Overbought and oversold zone channel, Determination of the trend, and Fractal levels (high and low levels of bank prices). You can use this EA with a minimum balance of $100 and a cent account. The EA works best with EUR/USD, GBP/USD, USD/CAD, EUR/JPY, and AUD/USD. It provides all historical trading information for you to check out.
-
Trend Line Grid
Trend Line Grid EA is based on the signals of Trend Line PRO indicator for hedging. After executing a certain number of orders, the EA uses a Drawdown reduction function which reduces the most unprofitable orders by closing them with a counter profit. The EA can also be used on trades opened manually and resolves them into a profit. The developers have advised that the best results can be generated by using a minimum deposit amount of $100. The EA also provides a trading panel from where you can trade and manage orders, activate auto trading Buy or Sell signals, pause or close the entire grid, open orders in manual mode, and change the size of the traded lot.
Conclusion
You will find EAs and forex robots with different pricing models which can get you confused. To decide whether a particular EA is worth it or not, always conduct detailed background research into the EA and the developer behind it. The best way t do this is to take the help of authoritative sites which can deliver better insight into the workings of many of these products.