There are many ways forex traders can make money. While some prefer making their fortunes in the long term, many short-term forex traders conduct their trades intraday and close out their position within a trading session or 24 hours.
Quite naturally there are forex robots that can automate this aspect of trading, aimed at helping traders who are in it for the short term. We’ve compiled a list of FX robots that trade in the short term.
list of FX robots that trade in the short term.
1. Spartan Bolt EA
Spartan Bolt EA is a scalping EA that aims at getting a series of small profits during short periods. It trades the EUR/USD, GBP/USD, and USD/JPY on longer timeframes.
It produces a yield per year of 10.23% and a maximum drawdown per annum of 18.47%. The lot size requirement is not less than 10000 units per 0.1 of a standard lot.
2. Ilan Dynamic Pro
Ilan Dynamic Pro is a Forex robot that can work with all types of trading accounts. It specializes in ECN and NDD accounts and works with 4 and 5-digit after-dot accounts.
It works with the EUR/USD, GBP/USD, and AUD/USD on M% or higher timeframes. It uses the martingale strategy and either buys or sells depending on trading signals. It produces a respectable 8.30% yield per annum with a maximum drawdown of 15.85% per annum.
3. Earth Robot
Earth Robot trades on two major currency pairs – EUR/USD and GBP/USD on the M5 timeline. It is characterized by a good risk-to-reward ratio meaning that it aims to achieve winning trades that are greater than the losing trades.
It is a short-term scalper that has been producing good results since 2017. It produces a maximum drawdown rate of 19.14% for a yield of 80.9% per annum.
4. The Wave Scalper
The Wave Scalper is a scalping forex robot that works with MetaTrader 4 and 5. It is capable of producing up to 700% profit on pairs such as USD/JPY, GBP/USD, GBP/AUD, GBP/NZD, GBP/CAD, and XAU/USD.
Developed by LeapFx, this is a reputable brand, this forex robot uses a neural network model that allows it to easily adapt to changes in the market. The team behind this EA has ensured that the robot does not use any risky martingale or grid trading methods. For $497, you get a full license, free support, and an instruction manual along with it.
5. Alfa Scalper
Alfa Scalper is a scalping forex robot that trades the EUR/USD, GBP/USD, and GBP/JPY currency pairs on M1 and M5 timeframes. It provides historical trading data as proof of its efficiency.
It has an average annual profitability is 49.36%. It makes use of three profit-taking price points to offer over 100 pips of profit per day. It has a user-friendly interface that you can easily use without having to go through detailed instructions.
6. Channel Trader Pro
Channel Trader Pro is a short and medium-term forex robot that works with the EUR/JPY, AUD/USD, and AUD/CAD. With a yield per annum that crosses several hundred, it is among one of the most efficient forex robots in the market right now.
With every license, you get third-party verified proof, instant access to the exact software, and efficient settings. It also provides educational resources where the secret pattern is revealed.
Forex robots and Expert Advisors can help even novice traders earn a fortune. However, when searching for fore robots, make sure you access them from reliable sources. Going through reviews from different trading forums can give you an idea of trusted sources to access forex robots. The above-mentioned forex robots come with verified proof and can be trusted with your initial deposit.