Forex robots are also called Expert Advisors (EA). It is automated Forex trading software
that operates according to parameters that correspond to a particular trading strategy.
Automated trading Australia does not differ fundamentally from those programs used in other
countries. However, in this article, we will consider some of the most popular and convenient
automated trading Australia.
What Are Forex Robots in Australia?
The main reason for using robots is the possibility of making a profit without the need for
constant manual intervention. Robots can scan the market for trading opportunities, analyze
data, and execute trades based on a set of pre-defined rules. It is also an extremely handy
tool for backtesting trading strategies using historical market data. In this way, the user
optimizes their strategies and identifies areas for improvement.
At the same time, it is worth understanding that Forex trading robots are very different, and
therefore, before using an EA with real deposits, it is better to evaluate its effectiveness in
advance. TOP 15 Best Forex Robots & EA’s Reviews in 2023 will help you learn more about
EAs available in Australia. And below, you will find information about the most interesting
among them.
FXStabilizer PRO
FXStabilizer PRO is designed to deliver consistent profits through a low-risk trading strategy
that uses a hedging approach. The robot works with several currency pairs and has a built-in
fund management system. It allows traders to customize their trading strategy according to
their individual goals and risk tolerance. FXStabilizer PRO is compatible with MetaTrader 4
and MetaTrader 5 trading platforms. It contains various customizable parameters such as
trading hours, risk levels, lot sizes, etc.
ForexTruck
ForexTruck uses a unique trading algorithm that combines technical analysis and market
sentiment to generate profitable trades. The robot works with the EUR/USD currency pair
and is suitable for trading on the MetaTrader 4 and MetaTrader 5 trading platforms. It
contains a variety of customizable parameters, including lot size, stop-loss, and take-profit
levels. The built-in risk management system helps minimize losses and maximize profits.
Also, the bot provides an opportunity to check the performance of the robot using historical
market data (retrospective testing).
Forex inControl Full
Forex inControl Full uses a combination of grid and martingale strategies to generate profits.
The robot works with several currency pairs and has many useful customizable parameters.
The retrospective testing option is also implemented here.
FXQuasar
FXQuasar is a bot that follows a strategy of combining technical and fundamental analysis.
FXQuasar has many customizable options, allowing each trader to tailor the robot to their
individual goals and risk tolerance.
FXCharger Basic
FXCharger Basic also combines technical and fundamental analysis to generate profit while
minimizing risks, just like FXQuasar. It works equally well on MT4 and MT5 and is best
suited to work with the EUR/USD currency pair.
The developer provides default settings, so you can use the bot immediately after
installation. However, you can optimize the strategy at your discretion by making additional
adjustments manually. The main advantage of the bot is the ability to work in a semi-
automatic mode, when the robot sends trading signals, and the trader independently makes
decisions about entering the market. It can be useful for those traders who want to leave a
few manual decisions in their trading strategy and rely more on their proof than on asset
management according to preset parameters.
FX JetBot
FX JETBOT is an EA with proven trading statistics, so this bot is definitely worth your trust.
The system works best with 5 currency pairs and has an impressive average win rate of
almost 80%. This EA does not use Martingale and almost always works with a fixed lot. It is
a very easy-to-use tool that is suitable even for beginners, and the minimum deposit is $190.
In addition, it has a built-in loss limitation system. The bot is NFA-compliant and works on
MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms, and is compatible with any broker
and account type.
Summary
Choosing which Forex robot to use in Australia depends on your individual trading goals, risk
tolerance, and preferences. It is important to thoroughly evaluate and test any Forex robot
before using it in real trading and to have a comprehensive risk management plan.
