Best Forex Robot South Africa 2022 – Top Forex Robots Revealed

The forex market is one of the most popular markets globally, with traders from all different experience levels getting involved. For beginner traders though, it can be pretty daunting to take the plunge and invest effectively – and that’s where forex robots come in. In this guide, we’ll discuss the Best Forex Robot 2022, examining the top options available on the market and exploring how you can make the best decision for your unique trading circumstances.

Best Forex Robot 2022 List

If you’re looking for a quick overview of the best forex robot’s in South Africa, look no further. In the following section, we explore each of these options in detail, helping you choose the best option for you. 

1. Learn2Trade – Overall Best Forex Robot 2022
2. 1000pip Climber System – Best Forex Robot for Industry Experience
3. Forex Fury – Best Forex Robot for Security
4. Odin – Best Forex Robot for Elite Performance
5. GPS Forex Robot – Forex Robot with High Win Rate
6. Binary Options Robot – Best Forex Robot for Automated Signals
7. Algo Signals – Forex Robot with Innovative Algorithm
8. Forex Cyborg – Best Forex Robot with Verified Results
9. Big Breakout EA – Support and Resistance Forex Robot
10. Binbot Pro – Best Forex Robot for Binary Options

Best Forex Robots Reviewed

There is a huge selection of forex robots available on the market these days – and with more and more springing up, it can seem daunting to narrow down the selection to one that suits your unique needs and risk appetite. However, this section will help out in that respect by exploring the ten best forex robots in detail, ensuring you have all of the information you need to make an effective decision.

1. Learn2Trade – Overall Best Forex Robot 2022

When deciding how to invest money, the forex market is one of the most accessible and liquid options you have available. Learn2Trade is designed to help you trade the forex market effectively through their semi-automated trading system. They offer both free and paid signals, which can be sent directly to your phone. Then it’s just a case of logging into your broker app and placing the required trade – all of the research is completed for you.

One of the great things about Learn2Trade is that you get the benefits of the best trading robots without providing access to your capital. Furthermore, as Learn2Trade offer both free and paid plans, you can test the waters without spending any money first to ensure the service is for you. Finally, Learn2Trade also provide a whole host of educational content on their website – allowing you to gain a comprehensive understanding of the markets from the moment you enter them. 

Pros:

Cons:

There are no guarantees that you will make money with this forex signal provider

2. 1000pip Climber System – Best Forex Robot for Industry Experience

Having been around for over five years, the 1000pip climber system is one of the most popular trading robots available on the market and has produced over 20,000 pips in the last three years alone. The robot uses a 100% rule-based algorithm to detect trading opportunities, prompting a signal to be sent to the trader in real-time.

The great thing is that the 1000pip climber system results and verified and trackable through Myfxbook, providing another level of validity to the robot. Furthermore, the robot integrates directly with MT4 and is extremely easy to set up. Finally, the 1000pip climber system is priced at a one-time cost of $97 (around 1352 ZAR) – meaning you will not have to pay an ongoing monthly fee to use its services. 

Pros:

Cons:

There are no guarantees that you will make money with this forex signal provider

3. Forex Fury – Best Forex Robot for Security

Forex Fury is one of the best trading robots for security and reliability due to its stellar reputation in the forex community. The robot offers low, medium, and high-risk trading strategies, ensuring there is something for traders of all types. Typically, the robot only trades one hour per day and with one specific pair to reduce unnecessary risk. Furthermore, the robot integrates directly with MT4 or MT5, with dedicated guides and videos showing you how to set it up in less than five minutes.

Much like the 1000pip climber system, Forex Fury’s results can be tracked and verified through their link to Myfxbook. The providers claim to grow accounts 10%-20% per month; however, this does come with a disclaimer that this depends on market conditions. Finally, Forex Fury’s Gold package comes at a cost of $229.00 (approximately 3206 RAND), which provides you lifetime access. 

Pros:

Cons:

There are no guarantees that you will make money with this forex signal provider

4. Odin – Best Forex Robot for Elite Performance

If you’re looking for a fully automated trading robot that aims to provide market-beating performance, then Odin might be worth checking out. This robot utilises their innovative ‘grid trading’ strategy, which plots the price path in real-time to find the best entry and exit points. At the time of writing, this system is claimed to have netted 11,860 pips in May alone; however, these results are not connected to Myfxbook, so it’s hard to determine their validity.

Odin also uses automatic protective stops to lock in profit whilst the trade is running, which is also fully automated. Currently, the Odin robot is priced at $129 (around 1798 ZAR), which is quoted as 35% off its regular price. Notably, Odin’s providers also offer a free trading robot if you’d like to test the waters first before purchasing the paid version. 

Pros:

Cons:

There are no guarantees that you will make money with this forex signal provider

5. GPS Forex Robot – Forex Robot with High Win Rate

Created by experienced trader Mark Larsen, the GPS Forex Robot claims to have a win rate of 98%, whilst the 2% that are losses can be reversed through the robot’s ‘reverse strategy’. The robot only trades EUR/USD and is fully automated, meaning that all the research is completed for you, and trades are placed on your behalf.

GPS Forex Robot integrates directly with MT4, and their website provides a handy walkthrough on installing it. Their website also showcases testimonials from traders who are claimed to have made substantial monetary amounts using the robot; however, these results are not verified by any third party. GPS Forex Robot is priced at $149 (approximately 2077 ZAR), with a 60-day moneyback guarantee being included in the deal. 

Pros:

Cons:

There are no guarantees that you will make money with this forex signal provider

6. Binary Options Robot – Best Forex Robot for Automated Signals

The Binary Options Robot offers a free automated signal app that provides real-time signals that you can act on without giving the robot access to your trading capital. This robot trades both forex pairs and crypto pairs, including popular options such as EUR/USD, GBP/USD, and BTC/USD. Notably, the robot does not even have to be downloaded; the platform is all online, which reduces the chance of scams or viruses.

As a rule-based robot, signals are sent to you when specific situations arise in the market. Binary Options Robot keeps the specific algorithm under wraps, but notably, they do not provide any testimonials or claims on their website. Finally, Binary Options Robot even offers a free demo account to use first, which can help beginner traders get to grips with the platform and how it works. 

Pros:

Cons:

There are no guarantees that you will make money with this forex signal provider

7. Algo Signals – Forex Robot with Innovative Algorithm

Algo Signals is one of the best trading robots on the market due to its intelligent algorithm and attractive customer offer. The system can be tailored to your specific preferences and risk tolerance, and customer support is available 24/5 via live chat to ensure any issues are dealt with promptly. Much like Learn2Trade, signals are sent to you first, and you can then choose to act on them or not as you please.

Algo Signals offers a demo account to users, which allows them to get a feel for the robot before trading for real. The real account trades both forex and crypto, allowing traders to operate in more than one market. However, Algo Signals does not have verified and trackable results on their website at present, so it’s difficult to determine how helpful the robot is without using it for yourself. 

Pros:

Cons:

There are no guarantees that you will make money with this forex signal provider

8. Forex Cyborg – Best Forex Robot with Verified Results

Forex Cyborg offers a fully automated trading system that is designed for professional traders. Utilising complex technical analysis, the system integrates directly with MT4 and claims to have a high win rate over ten years of extensive backtesting. The robot can be traded on multiple currency pairs, and the exact settings can be tweaked to meet your desired risk level and position size.

The great thing is that Forex Cyborg has verified trading results through Myfxbook clearly stated on their website – so you can go on and ensure results are as good as they claim they are. The providers put a lot of effort into verifying their trades, and the website is filled with charts and graphs that show account balance growth over time. As Forex Cyborg is one of the more advanced robots on the market, it comes at a premium price point of €499.99 (approximately 8497 ZAR).

Pros:

Cons:

There are no guarantees that you will make money with this forex signal provider

9. Big Breakout EA – Support and Resistance Forex Robot

One of the best trading robots for trading support and resistance is Big Breakout EA. This robot integrates directly with MT4 and uses various advanced indicators to identify trading opportunities. Strategies employed by this robot include ZigZag Breakouts, 1-2-3 Breakouts, Fractals Breakouts, and more.

Notably, the robot only uses pending orders, meaning that it identifies opportunities in advance. Pending orders are helpful as they reduce the chance of a losing trade, as there is a chance the order won’t get filled. Much like other robots on this list, Big Breakout EA offers a demo account for traders to use initially; however, if you’d like to access all of the features, the full version costs 79.90 CHF (approximately 1239 ZAR).

Pros:

Cons:

There are no guarantees that you will make money with this forex signal provider

10. Binbot Pro – Best Forex Robot for Binary Options

If you are interested in trading binary options, then Binbot Pro might be for you. With a user-friendly online platform, Binbot Pro is excellent for new traders as the robot does not use any complicated jargon or advanced trading techniques. Instead, it provides an easy to use robot that partners with some of the most reputable binary options brokers on the market.

Notably, Binbot Pro is a free robot, so all you need to do is deposit some funds into your broker account and let the robot do the work. Binbot Pro’s online platform offers a selection of ‘robots’ you can choose from, with each one claiming to provide a different level of return on your trading capital. However, their website does not showcase verified results, so this is something to keep in mind if you do decide to use this robot.

Pros:

Cons:

There are no guarantees that you will make money with this forex signal provider

Forex Robots Fees Comparison

If you’re looking for a quick overview of the fees associated with each of the robots mentioned above, then check out the table below. It’s important to note that these fees are correct at the time of writing, although they could change in future. 

What are Forex Robots?

Forex robots are a specialised piece of software that can help automate your forex trading. They tend to be based on specific rules and systems that will ‘decide’ when an opportunity has presented itself in the market and provide a ‘signal’ to the trader that a trade should be placed. Automated robots will take this one step further and place the trade on the trader’s behalf, thus removing all emotion from the decision.

Most of the time, these robots will integrate with popular trading software such as MT4. Usually, this is just a case of downloading the robot from the provider and installing it on MT4. Once installed, the robot can essentially run in the background and keep an eye on the markets whilst you do other things.

The best trading robots can be purchased from various providers, many of whom are companies set up by experienced traders. No two robots will be the same, as most follow their own unique set of rules to jostle for market position.

The great thing is, the best trading robots can understand the market in-depth – even though they are not human. They do this by extensive backtesting, which involves researching historical price patterns and understanding how price reacts when certain things happen. Using this information, trading robots can provide better signals and make better trades for you. 

Do Forex Robots Work?

Much like stock trading, forex trading is all about determining where price could go based on the surrounding factors and making a decision on whether to invest or not. Forex robots essentially do all of the hard work in terms of scanning the market and determining trade opportunities. This helps remove the psychological element of trading, thus enabling more effective decisions.

As there is a wide variety of forex robots available on the market, each with its own set of rules and algorithms, it’s difficult to determine how forex robots work in a broad sense. However, most forex robots operate under a ‘what-if’ system. They essentially ‘store’ an idea of what trades to make when specific scenarios play out in the market.

The ‘if’ part of the system is when something happens in the market; for example, USD/JPY forming a lower-high on the 1H chart. The ‘what’ part of the system would then kick in, which is where the robot would either provide a signal to trade or place the trade on your behalf (if it is fully automated). Although this may seem like a relatively simple example, there are robots on the market that use much more advanced ‘if’ parts of the system to find intelligent and profitable opportunities in the market.

Overall, these robots allow you to go about your business whilst they scan the market for you and find opportunities. Many traders find this extremely valuable, as the capacity to be in front of the charts all day is difficult for most people. However, and as noted by Admiral Markets, it’s still important to use these robots solely as a tool and not depend on them entirely.

Binary Trading Robots

Binary trading robots (or binary options robots) are a specific robot that can provide signals and automate trading in the binary options market. The best trading robots for binary options work in pretty much the same manner as the best forex robots, in the sense that they scan the market and look for trading opportunities on your behalf. In addition, many of these robots are fully automated – meaning you can just set them up and let them trade for you.

Trading the binary options market is inherently risky – and is akin to gambling in a sense. Thus, using one of the best trading robots to help make your binary trading more efficient can be a helpful way to reduce some of the risk involved.

Free Forex Robots

It’s worth noting that there is also a marketplace for free forex robots that can integrate with MT4. The MQL5 market offers a wide range of free forex robots (branded as ‘expert advisors’) that you can download and install into MT4. The great thing is, this marketplace has a review system whereby you can see which robots have received good feedback and which ones haven’t – helping you make an efficient decision.

Due to being marketed on the official MQL5 marketplace, you can be more confident that the robots on offer are free forex robots that work. However, most of the time, free forex robots will come with fewer features and systems that aren’t as advanced as paid robots. Thus, if you’re in the market for the best trading robots, it’s important to research both free and paid options to see which one is right for you. 

How to Choose the Best Forex Robot

Choosing trading robots that work can seem tricky, especially with all of the different options available on the market. To make this process smoother, this section will discuss some of the essential things to look out for when choosing the best forex robots for you.

Track Record

Understandably, one of the most crucial things to research is the robot’s track record. This indicates whether the robot can actually generate profits for you or not and whether it’s worth downloading. Most of the time, the robot’s provider will advertise its track record on the website; however, it’s important to dive a little deeper.

Track records that are advertised tend to be exaggerated or sometimes even incorrect – so make sure that the provider you choose has a ‘proven’ track record. By this, we mean check that the robot’s results can be verified by a reputable 3^rd party website such as Myfxbook. Seeing profitable and verified results from the robot’s trading will ensure you avoid robots that are ineffective and unprofitable.

Automation

Another thing to look out for when choosing the best forex robots is the level of automation they use. As noted by Admiral Markets, the forex market is the largest and most liquid market globally – meaning that there are so many opportunities to generate a return daily. With so many possibilities, it can seem overwhelming for a trader to keep tabs on everything.

Automated robots can help in this sense, as they can scan and research the market at a much faster rate than a human can. Due to this, they can find opportunities and trade on your behalf whilst the opportunity is still valid. This is extremely useful for strategies such as scalping, as these opportunities can sometimes only be valid for minutes or even seconds!

Trading Strategy

You should also pay attention to the specific trading strategy that the robot uses. This usually comes down to personal preference and your unique risk tolerance levels, so make sure to utilise a robot that is consistent with your goals. Luckily, there are robots on the market that cover most of the top trading strategies such as scalping, swing trading, day trading, momentum trading, and more.

Price

Finally, it’s also essential to look at the price of the robot. As mentioned, there are free forex robots available on the market; however, these tend to come with more basic rules and features when compared to paid robots.

On the flip side, some robots are pretty expensive compared to others in the market, so you need to determine whether you’ll be able to generate a return on your ‘investment’ in the robot software. Alternatively, you could even use a cost-effective service such as Learn2Trade, which provides all of the benefits of a trading robot – without having to give access to your capital. 

How to Get Started with the Best Forex Robot

Now that you have a good overview of what forex robots are and how they work, it’s time to look at how to get started with one of the best trading robots. In the steps below, we’ll show you how to get set up with Learn2Trade and begin trading efficiently – all from the comfort of your own home.

Step 1: Sign Up for Learn2Trade Plan

Although Learn2Trade aren’t technically a ‘robot’ per se, we recommend them due to the effectiveness of the signals they provide and the fact they don’t require access to your trading account. To sign up, navigate to Learn2Trade’s homepage and click the ‘Get VIP forex signals’ button in the top right. On the page that follows, choose the payment plan that suits you best, and then finalise the purchase.

Step 2: Join Learn2Trade Telegram Group

Once you’ve signed up for your Learn2Trade plan, you’ll receive the credentials to join their VIP signals group on Telegram. Simple download the Telegram app on your smartphone or computer and use these details to log in to the group.

Step 3: Open and Fund a Broker Account

Although Learn2Trade provides the trade opportunities, you still have to have a funded broker account to place the trades. We’d recommend using Avatrade for this step, as they provide commission-free trading and are regulated by some of the world’s top regulatory bodies. All you need to do is open an account and make a deposit, and you’ll be ready to move on to step 4.

Step 4: Receive Signals and Trade

Now all you need to do is wait until you receive a signal from the Telegram group. The most efficient way of doing this is having notifications turned on for the Telegram app on your phone and not having your phone on silent. Learn2Trade’s signals will have all of the info you need, such as entry points, stop-loss, and take-profit levels. Once you receive a signal, all you need to do is head over to your broker’s trading platform and place the trade – simple! 

Learn 2 Trade – Overall Best Forex Robot 2022

In summary, forex robots can represent an excellent option for beginner traders or traders who do not have the time to be scanning the market each day. Although these robots are not foolproof, they can be a valuable and practical addition to your trading toolkit – and if used correctly, they can undoubtedly help you trade the forex market profitably.

However, in our opinion, one of the best options available on the market right now is Learn2Trade. Although not technically a ‘forex robot’, Learn2Trade offers all of the benefits of one – without having to provide access to your capital. Learn2Trade’s innovative software will research and find trading opportunities for you. With the addition of various courses and signals packages, you can be sure that Learn2Trade will aid you in trading effectively. 

There is no guarantee that you will make money with this provider.

Avatrade – Best Alternative to Forex Robots

If you are looking for an alternative to traditional forex robots, we’d highly recommend using our best forex broker Avatrade. Through Avatrade, you are able to download MT4 and install an ‘expert advisor’ to trade on your behalf, allowing your trading to become automated.

There is a huge selection of traders to copy – with many having extensive market experience and producing fantastic returns. The great thing is, you only have to invest $200 into your chosen trader (around 2791 ZAR), and trades will be placed automatically, removing emotion from decision making. Finally, Avatrade offers 0% commissions when trades are placed – allowing you to save money on fees when using the CopyTrader feature.

67% of retail investor accounts lose money when trading CFDs with this provider.

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