Forex Trading Robots for Android
In recent years, technological advancements have transformed the landscape of financial markets, and forex trading is no exception. Like other traders around the world, South African traders are increasingly turning to forex trading robots, especially those designed for Android devices. This helps them enhance their trading strategies and capitalise on market opportunities. The idea is that trading robots eliminate the involvement of human emotions which can sometimes take over people’s strategies.
In this article, we will look at forex trading robots for Android available for South African traders. We will consider their benefits, considerations when choosing one, and how South African traders can leverage this technology for successful trading. Let’s jump in.
What Are Forex Trading Robots?
Forex trading robots are software programs designed to execute trading strategies on behalf of traders. They are also known as Expert Advisors (EAs) or automated trading systems. They contain algorithms that analyse market data, identify trends, and execute trades without direct human intervention. The goal is to automate the trading process. This allows for faster and more precise execution of strategies. In the fast-paced financial markets, speed is crucial to utilize every trading opportunity available. With that brief explanation, let’s see the forex trading robots for Android that are available for South African traders.
A short disclaimer before we list our picks. We do not have any personal experience with any of these trading robots. As such, we insist that you must backtest them on your own and verify the robots before committing to using them. Moreover, remember that most of these robots will require you to pay a fee upfront before you have any access to them.
Forex Flex EA
Forex Flex EA is one of the most well-known forex robots in the market today. It comes with dozens of optimized set files so traders do not have to play around with the settings. Notably, this robot is available to pair with both MT4 and MT5 on Android phones. It is best known for its flexibility and market adaptability.
It supports many trading strategies and allows for customization. Positively, the developers of this forex trading robot provide verified trading results via MyFxbook for any trader to check on their own. This is very crucial if you are looking for a trading robot to use. Always ensure you pick a robot that can be backed by real verifiable results. The starting price for this trading robot starts from $349.47.
EliteFxgo is another forex trading robot available for Android users in South Africa. The company behind this product claims to provide a powerful solution designed to maximize profitability for traders of all levels.
Most importantly, the trading bot is backed by a verifiable performance track record via both MyFxbook and FxBlue. On top of that, the company behind the product has over 7 years of experience to use when updating and maintaining the trading robot. The price for this robot starts from as low as $250.
GPS Forex Robot
GPS Forex Robot is a popular choice among traders looking for automated solutions on Android devices. Developed by Mark Larsen, it is designed to adapt to various market conditions. The robot uses a combination of tight risk management and complex algorithms to identify profitable trading opportunities.
Traders can integrate this robot with both MT4 and MT5 platforms on their Android devices. GPS Forex Robot provides verified trading results through MyFxbook, offering transparency to potential users. The pricing for this robot starts from $149, making it a relatively affordable option for traders.
Fap Turbo 3.0
Fap Turbo 3.0 is a well-established forex trading robot that South African traders can utilize on their Android devices. It is known for its long-standing presence in the market and aims to provide consistent and reliable trading results. The robot boasts a user-friendly interface, making it suitable for traders of different experience levels. One notable feature of Fap Turbo 3.0 is its advanced trading algorithm that adapts to changing market conditions.
It utilizes both scalping and long-term trading strategies to identify potential profit opportunities. The robot supports integration with popular trading platforms such as MT4 and MT5, ensuring compatibility with Android devices. To instil confidence in users, Fap Turbo 3.0 provides verifiable trading results through platforms like MyFxbook. The pricing for Fap Turbo 3.0 starts at $299.
What Brokers Can You Pair with Robot Trading on Android?
That is it for some of the top choices when it comes to forex trading robots for Android. Note that we only listed a few robots here. We tried to only feature robots which have verifiable trading performances on third-party websites, particularly Myfxbook. Remember that we do not have any personal experience with any of these robots and it will do you better to do your own testing and verification. Nonetheless, it would be a disservice if we did not list here some brokers you can pair with these systems for the best experience. Again, this is our personal opinion and we welcome you to do your research to see what best suits your needs.
Exness is one of the top choices for traders in South Africa who wish to use trading robots. On this broker site, the MetaTrader 4 and MetaTrader 5 platforms both support EA integration. Investors can install EAs from the MQL Community, MetaTrader’s official source or they can install EAs from other sources. Further, they can code their own trading robots provided they have the expertise. What’s more, Exness allows traders to access trading signals provided by Trading Central if they are interested.
Notably, Exness offers traders CFDs on forex, metals, cryptocurrencies, energies, indices, and stocks. Investors trade these instruments on five main account types. These include a Standard Cent account, a Standard account, a Pro account, a Zero account, and a Raw Spread account. The spreads on the standard account can go as low as 0.3 pips, but average between 1.0 to 2.0 pips on major currency pairs. However, they go even lower on the professional accounts.
On regulations, this broker operates in South Africa under the regulation and examination of the FSCA. The broker also has regulations by the CMA in Kenya, the FCA in the UK, and the CySEC in Cyprus.
Pepperstone is regulated by the CMA in Kenya, the FCA in the UK, the CySEC in Cyprus, and the ASIC in Australia, among other regulators. This broker supports EA integration on three of its trading platforms available. These include MetaTrader 4, MetaTrader 5, and cTrader. Pepperstone allows traders to use third-party forex trading robots or code their own programs if they wish.
Traders can deploy the robot trading robots on different global markets with Pepperstone. These include forex, shares, currency indices, commodities, ETFs, and indices. The spreads on this broker site start from as low as 1.0 pips for major currencies on the standard account. They go even lower on the razor account starting from 0.0 pips plus a commission. The commission paid sits at $3.5 per side per lot or $3 per side per lot depending on the platform.
FP Markets is another top choice for South African traders who want to use forex trading robots on Android. This broker supports the integration of Expert Advisors on its VPS (Virtual Private Server) for MetaTrader 4 and MetaTrader 5. MetaTrader 5 on this broker site gives traders superior backtesting capabilities and an improved strategy tester for EAs. MT4, on the other hand, gives users free trading robots they can find on the FP Markets Code Base.
Like Exness, FP Markets also allows traders to invest in a variety of market products. Specifically, this broker site avails of over 10,000 different products including forex alongside CFDs on indices, shares, commodities, metals, and cryptocurrencies. The spreads can be as low as 1.0 pips on the standard account with no commissions. On the raw account, the spreads go lower starting from 0.0 pips plus a commission of $3 per side per lot.
In South Africa, this broker has regulation and authorization from the FSCA to provide brokerage services. However, it is also under the regulation of the ASIC and the CySEC.
Considerations When Choosing a Forex Trading Robot
In conclusion, the rise of forex trading robots for Android has significantly transformed the way traders approach financial markets. The featured robots offer diverse strategies and claim to provide automated solutions that can enhance trading efficiency. However, it is crucial for traders to exercise caution. We have emphasized the importance of conducting thorough testing and verification before committing to any trading robot. Remember that automated trading comes with risks, and past performance does not guarantee future results.
Additionally, we featured a few brokers that traders can pair up with EAs for the best trading experience. The considerations when choosing a forex broker included the regulations, spreads, trading platform, and availability of trading instruments. We also considered whether the broker supports integration with trading robots for Android. Needless to say, there are many other forex brokers that allow the use of EAs on Android. Each trader’s choice will come down to their personal needs and preferences.