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Author: Admin | 2025-04-28
Needs to continually provide updates to ensure that functionality does not affect profitability.In our up-to-date guide for 2024, FX Stabilizer for the second year running is the best Forex robot for performance but is also one of the most expensive; reinforcing that paying a bit more for an EA can pay off.9. Customer supportWhen trying to find the best robot for Forex trading, the help desk assistance level is often an overlooked part of a purchase. Consider what happens if you are having problems with the installation process to work with MT4, you have questions about the robot settings, or the forex robot is not working. If the robot developers are not responsive in supporting their customers, it will be frustrating.The best Forex robot developers have a responsive help desk service, available 24/7, often replying to customer queries within an hour, generally via email but sometimes through live chat support. Other developers offer a more limiting 24/5 service, so just providing support during the trading week and not at the weekends.10. Profit factorDoes a Forex robot make money? A real trading account profit factor (PF) will answer this question and is a crucial metric when assessing whether to buy a Forex robot. The PF shows the interaction between profit and risk. The PF calculation divides all the winning trades’ profit by the losses on all the losing trades.For example, if an EA makes a Forex trader a gross profit of $1,000 across all its winning trades and a total loss of $500 across all its losing forex trades, the PF is 2.0. The higher the PF, the lower the risk. A PF above 1.0 means the Forex robot is profitable, whereas an EA with a score under 1.0 should not be considered for purchase.Avoiding Bad Robots: The Number One Red FlagFrom our extensive research of Forex robots, we would like to share the number one red flag that should be a concern when selecting an Expert Advisor, which is simulated or hypothetical performance.Forex robots that can only demonstrate profitability through a demo account, also known as a simulated account, are hugely problematic in the EA market. These Expert Advisors have never been tested in the live currency markets with real trade executions and where market factors such as liquidity, spreads, and slippage can affect performance. Even from MyFXBook and FX Blue, demo account performance can be manipulated as actual trades have never taken place. Simulated trading is such a concern that the CFTC themselves forewarn hypothetical performance presentations.Here is a brief excerpt from the CFTC communication:‘we warn of the limitations of hypothetical performance results and the dangers of relying upon these results as an indicator of actual performance.’Effectively, simulated results do not represent actual trading. Our best EA list only uses real trading accounts with a verified performance from live trading.
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