The term “algorithmic trading” is better known by its colloquial form, “forex trading robot,“ or “Expert Advisor (EA)”. It is a method of trading in which a specialized computer software is used to identify exactly when an asset or currency pair should be purchased or sold.
This procedure is entirely computerized and synchronized with forex broker systems. Here, we provide the definitive list of the 5 best trading robots which can be downloaded for Android software.
Khwezi Trade – best overall MT4 trading robot provider
Khwezi Trade is an FSCA-regulated and OTC authorised Forex broker based in South Africa that provides Android users with the highly popular MT4 trading platform. MT4 provides a broad selection of Expert Advisors (EAs), which can be easily downloaded and integrated for fast execution of algorithmic trading strategies.
XM – best trading robot for beginners
If you are just getting started in this field, XM is the company you should go with because it was established in 2009 and is a market leader in the provision of trading services for novices thanks to its extensive collection of instructional resources.
It is also one of the top brokers because of the automated features that are included as part of their package.
BlackBull Markets – best free trading robot
BlackBull Markets is a global Forex and CFD broker that was established in 2014. They hold licenses to operate in both New Zealand and Seychelles. Forex, indices, equities, and commodities are some of the financial instruments that the broker makes available.
BlackBull provides exceptional trading conditions on the MT5 platform, which includes support for EAs and virtual private servers.
Admiral Markets – best low spread trading robot
Admiral Markets provides the greatest solutions when it comes to spreads and trading costs; its spreads are lower than the industry average, with only 0.6 pips for the as compared to the industry average of 1.6 pips. In addition, Admiral Markets’ spreads are competitively priced.
Even though Admiral Markets’ basic account type does not assess any commission costs, higher-tier accounts do, however these accounts also have tighter spreads and are subject to trading fees. The broker does not levy any additional costs that are not associated with trading.
FxPro – best regulated trading robot provider
When it comes to foreign exchange trading as well as CFDs of indices, equities, commodities, and cryptocurrencies, FxPro provides clients with first-rate services.
The financial services provider went into business in 2006 and is authorized to conduct business in the United Kingdom, Cyprus, South Africa, and the Bahamas.
Over 273 different trading instruments are available on MT4 from FxPro. The broker does not impose any limitations on trading techniques and can provide virtual private servers for an additional fee of $30.
On MT5, you get access to a number of free robots; but, if you want to use more advanced robots, you will need to pay an additional subscription fee.