Brokers for trading robots
One of the advantages of online Forex trading is the ability to fully automate it and conduct it without human intervention. This is done using special programs for the MetaTrader 4 / 5 terminal-trading robots (experts). But not all companies allow their customers to use this technology. This page shows the rating of the best brokers for trading robots.
How to choose a broker for trading robots
The basis of any trading robot is a formalized trading strategy that is programmed in the built-in MQL4 terminal language. It automatically opens and closes market transactions at the right time, in accordance with the indications of technical indicators. There are three main types of such robots:
- Fully automatic systems that replace a person in the trading process. They can work independently for months, making decisions based on their algorithms. The main condition for their reliability is the availability of uninterrupted communication with the broker's server;
- Semi-automatic expert advisors that can't perform trading operations on their own. They signal to the trader that the trading conditions have come, help in calculating the parameters of the transaction, but the decision is made by a person;
- Helper programs for manual trading that do not have analytical capabilities. They are designed to automate routine trading processes, such as simultaneously opening a large number of orders or changing Stop Loss by a specific algorithm.
Using automated trading technologies in the market Forex is very popular among traders. There is evidence that more than 65% of clients of brokerage companies use robots, and half of them are completely independent programs that do without human intervention. Main advantages of trading robots:
- Lack of emotions and work according to a strict scheme. A person's decision-making is often influenced by fear, greed, uncertainty, and more. The computer system is completely devoid of these weaknesses and can not be doubted;
- The speed of trading operations performed by a computer significantly exceeds the capabilities of a person;
- The trading adviser can work around the clock, without weekends and holidays, choosing the most favorable time for transactions;
- Trading using the robot does not require deep knowledge of the market, all the logic of actions is initially laid down in its program.
For normal trading with automatic expert advisors, a number of conditions must be met:
- You need a reliable connection between the expert Advisor and the broker's server. The best way to do this is to use a dedicated virtual server (VDS), which is provided by many companies. VDS for automated trading work around the clock and are provided with uninterrupted power supply;
- To trade using an expert Advisor, a minimum spread is required, since most automatic trading strategies are scalping. They involve opening a large number of transactions in a short time;
- The intermediary company should not prohibit its clients from using trading robots.
A novice trader should remember that even the best automated trading system can be unprofitable under certain conditions in the market. Do not believe the myths that you can get a large and stable profit completely without difficulty. Any activity in the financial markets involves significant risk.
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