With the popularity of expert advisors or forex robots in the last 5 years, Forex trading is now in the grasp of almost any trader no matter where they are situated. While almost all brands claim that their products are the most profitable, it is seldom the case. That is not to say that there are reliable forex robots out here that have produced a fortune for anyone using them.
One of the most important metrics to look out for when selecting an expert advisor is its drawdown rate. It is an accurate representation of the amount of risk that the trading strategy of the EA is undertaking. It is always preferred to look for forex EAs which have smaller drawdown rates. To save you the hassle of searching for forex robots, we have compiled a list of 5 of the best forex robots with drawdown rates under 25%.
- Forex Robotron
Forex Robotron is a forex robot that works with MetaTrader 4 and is capable of working with STP/ECN brokers. The efficiency of this robot is tested by using real data and is uses a tight stop-loss. It generates the best results when market conditions consist of low spreads, low commissions, fast execution, and no limitations on stops. It trades the EUR/AUD, EUR/CAD, EUR/CHF, EUR/GBP, EUR/USD, GBP/AUD, USD/CAD, and USD/CHF currency pairs on five-minute charts. The drawdown rate for Forex Robotron is 22.25%.
- Forex Cyborg
Forex Cyborg is an extremely easy-to-use forex trading robot that incorporates deep learning and neural networks to deliver a consistent win rate. The EA is available between the $299 and $599 price range and is capable of trading AUD/CHF, AUD/USD, CAD/CHF, EUR/AUD, EUR/CAD, EUR/CHF, EUR/GBP, EUR/USD, GBP/AUD, GBP/CAD, GBP/USD, USD/CAD and USD/CHF. Described as a scalper, you get access to any one of the 4 different packages available. The premium account lets trader have access to a real license and all 14 currency pairs. Its current drawdown rate is at around17%.
- Forex Flex EA
Forex Flex EA is a forex robot that is known for being one of the longest-running automated services in the market. Developed by talented coder “Admin Steve” who previously has developed similar products for the last ten years, Forex Flex EA provides a myriad of trading strategies based on half-grid, high-risk trend surfing, tdi cross, custom TDI, adr dynamic, stochastic grid, and others. The EA is available for $330 and has a drawdown rate of 13.42%.
- Forex Scalping EA
As the name suggests, Forex Scalping EA is a scalping EA which works with multiple currency pairs on the m5 time frame. With this EA you can scalp on currency pairs such as EUR/USD, GBP/USD, EUR/GBP, EUR/CHF, EUR/CAD, GBP/CAD, GBP/CHF, USD/CAD, and USD/CHF. The EA trades during times of low volatility which gives it an extremely accurate entry from its combined technical and price action analysis. For a scalper, this EA has an impressive drawdown rate of 24.54%.
- Astro Forex
Astro Forex is a grid trading forex robot that is known for delivering consistent monthly and yearly gains. It trades on the EUR/USD, AUD/USD, GBP/USD, USD/CAD, USD/CHF, USD/JPY currency pairs and has a very good track record as evidenced by its myfxbook data. It is one of the safest EAs in the market with a drawdown rate of only 1.7%.
The above information on drawdown rates has been procured from authoritative sites such as myfxbook and others to provide you with accurate information on this very important metric. However, simply looking at the drawdown rate isn’t enough for making a well-informed decision. You should also look at other aspects such as the background of the developer as well as a proper explanation regarding the strategy before they invest in a particular EA.