Best Forex Expert Advisors

27 min read

Forex trading is a very popular and rewarding market that is used by millions of people around the world to make profits. However, it is a risky market that is sometimes a little hard to understand. Because of the risks that the Forex trading market has, there are some people who choose to avoid trading Forex.

But, there are some things that can help you avoid the majority of the Forex trading risks. One such thing is the Forex trading expert advisors. Although very helpful, automated EA Forex trading is not risk-free, there are still many things that you should consider as a trader to stay safe. However, it is definitely one of the very helpful things for traders in the market.

In the Forex trading market, an Expert Advisor stands for a computer program that is designed to automate the Forex trading process. The Forex trading experts advisor is used by traders to carry out trading processes for them when they do not have time to trade Forex on their own. These trading tools are able to initiate trading processes for you at any time.

There are many advantages and disadvantages associated with Forex trading Expert Advisor. Probably the biggest advantage of using EAs while trading is that they take away the emotional side of trading. When you are trading Forex on your own, there are numerous things that you are worried about – your funds, the potential profits, losses, etc. The Expert Advisor is capable of trading without any emotions, which eliminates the risks that might come with emotional trading.

Top Forex Expert Advisors Today

Forex expert advisors have changed the way people view the Forex trading market. Many people in the market for a very long time thought that the Forex trading market was very risky and it was very hard to get started here. However, thanks to the Fore expert advisors, the attitude of many is changing.

There are numerous expert advisors available in the market. But, how do you know which one to use? One of the main priorities for you, as a trader, should be the safety and security of your funds. When you are trading using an expert advisor, you must be sure that you are trusting the right company.

After doing in-depth and thorough research, we were able to find the best Forex experts advisors in the market. Check out some of the best expert advisors in the market and see which one fits your needs the best.

Zeus EA

Among many Forex expert advisors is Zeus EA. It is an automated Forex trading system created for the currency trading market. It is designed to generate a passive Forex monthly income for traders without any direct involvement. This Forex trading advisor is largely focused on the EUR/USD currency pair and can be used with MetaTrader 4 trading platform.

Using Zeus EA should not be huge of a challenge as it is very easy to get your hands on this Forex trading expert advisor. All you have to do to use this expert advisor is to open and verify a broker account with a Forex broker that is supported by the EA.

After this, you fund any EUR account with a capital of at least 2500 Euros. After this, you will be able to join the PAMM of the Zeus EA. You will be able to find a link to the ZEA PAMM on the website of Forex trading EA.

There are numerous Forex brokers that support this EA. The majority of these brokers are very well-known around the world and are reputable in the market. The EA can be used with MetaTrader 4, which is one of the best-known Forex trading platforms in the market. It is very easy to use and the majority of the brokers offer it.

There are different types of options for subscriptions when using Zeus EA. All of the subscriptions are very comfortable and are made according to the personal needs of traders all around the world.

For example, if you are still a beginner in the market who wants to just try out the services of Zeus EA, you can use an account called Explorer, which costs only 89 euros and can be used for one month. The preferred equity size for this account is 2,500 euros and the expected return per maximum capital with this account is about 150-200 euros.

There also are two other types of accounts you can create. They are called Builder and Conqueror. With Builder, you will be able to use the EA for 12 months. This costs 300 euros the expected returns per maximum capital is between 1500 euros and 2500 euros. The third option of Zeus EA is Conqueror, which will cost you 699 euros.

This account can be used for 14 months, and the expected returns, in this case, are between 4500 euros and 7500 euros. All of the three options available at Zeus EA require MT4 credential sharing. You can also get this EA without broker sponsorship. However, keep in mind that it will cost more.

However, expected yearly returns are also higher. The explorer account without broker sponsorship costs 699 euros and can be used for 12 months. The expected yearly returns with this account are between 1900 euros and 2500 euros.

As for the Builder, it will cost you 1299 euros without a broker sponsorship and can generate yearly returns of 4500-7500 euros. The most pricy one is Conqueror and it costs 3699 and this one offers services with several accounts. The returns on yearly basis with this account can be between 1500 to 2500 euros per one account.

All in all, this Forex trading EA is a great option for Forex traders and offers a lot of high-quality services. It has a long and proven history of success, which makes it one of the most popular EAs in the market today.

Ultima EA

Ultima EA is one of the leading EAs available in the market and is used by thousands of traders every single day. This verified and popular EA was developed by Mislav Nikolic and Chris Svorcik.

There are numerous things that make this EA stand out from the others in the market. There are numerous Forex brokers supported by the Ultima EA. Using it is very simple and you will only be required to take a few steps for using it.

This fully automated Forex trading system was first introduced to the masses back in 2019, in just a few years from its initial release, it has already managed to become one of the leaders in the market. The system is operated by a globally accepted and highly-reputable MetaTrader 4 trading platform.

The creators of the Forex trading EA are professional traders, with years of experience in the Forex trading market. After you open a live trading account with one of the supported Forex brokers, you can easily connect your account with Ultima EA.

Following this connection, the EA is capable of automatically executing trades on your behalf. There are numerous technical sides to the EA for the best outcome. The EA largely focuses on trend-based Forex trading strategies and strictly follows price swings in the market.

It also looks at the automated Fibonacci targets and filters through different types of market conditions to find the best time for opening the positions. The average success rate of this trading EA is between 55-60%. The EA offers traders a consistent long-term trading approach.

No matter how experienced you are as a trader, this automated trading software can be a great help for you. The team behind the EA made sure to test the expert advisor numerous times before releasing it, which can be easily felt even from the first few minutes of using it. Ultima EA is heavily backtested in different types of market conditions, ensuring the highest standards of safety, security, and accuracy.

Because of the high standards of Ultima EA, it has been named by many people as one of the best expert advisors in the market. Many who use it constantly talk about how well it actually works.

The people who created the expert advisor have long been very active in the trading markets, not only trading but also sharing information about the Forex trading market. This makes them highly knowledgeable of the Forex trading market. Because of their long and successful history in the market, as well as their knowledge, Ultima EA is something that can be a great fit for everyone who is looking for ways to easily become a part of the Forex trading market.

This trading Expert Advisor offers you access to a lot of diversification, which is an additional advantage. You get the ability to trade 3 EAs for one price. By subscribing to this EA, you get access to Ultima, Ult Pro, as well as Rush EA.

There are numerous subscription types offered by the EA. The entry-level subscription is a monthly-paid version, which will cost you 199 euros a month. There is also an early subscription solution, which costs 1899 euros a year, which should be paid at once. You can also get a sponsored yearly subscription for 1499 euros.

What Is A Forex Expert Advisor?

In the Forex trading market, Expert Advisors are very popular pieces of software that are used by millions of traders every single day. The main idea behind the EAs is to help traders better understand when to trade and find the best possible trading conditions in the market.

The expert advisors can be even programmed to initiate and execute trades for traders according to your own criteria. These pieces of programs are most often used with trading platforms like MetaTrader 4 and MetaTrader 5.

These trading programs are capable of monitoring the financial markets on their own. To initiate trades, they are using predetermined algorithms and can trade in numerous different market conditions. While they are trading Forex on their own, you still have some role in the trading process. As a trader, you will have to set parameters about what you are looking for in the market.

Once the parameters are met, the expert advisors can do two things: they can either notify you to start trading or open/close positions on their own, automatically. The EA is also capable of adding different types of close conditions such as stops, trailing stops, as well as different types of limits. While expert advisors are mostly used in the Forex trading market, they can also be used for other assets that are available on MetaTrader 4.

The main idea behind how Experts Advisors work is that they function by enabling different types of parameters that are used to find the best possible opportunities in the market. The EAs are mostly using different types of yes/no rules to make the decisions about trading and the positions they open.

The best thing about EAs is that you can create one of your own, however, if you believe this is too much of a struggle, you can always get one online. There are many of them available. While some of them are paid, there also are few that are completely free. However, make sure you are trusting an EA that is very well tested so that you don’t lose your hard-earned money.

Why Forex EAs Are a Good Idea

As we have already said, Forex trading expert advisors are very popular in the market. But why are they popular? What makes them a good idea to use in the Forex trading market?

There are many advantages that Forex Expert Advisors have. For starters, they offer traders a very unique opportunity – to be part of this very exciting market, without having to spend hours and hours researching the market conditions.

But, this is not all. One of the biggest advantages of using Forex trading Expert Advisors is that they give traders the ability to be part of this market without having to go through all the emotional side of trading.

In addition to this, you also get a lot of extra time to do additional research, and you even get to further diversify your trading portfolio by trading several assets at the same time. Below, we will continue discussing the main advantages of using the best Forex expert advisors in the market.

Reducing Emotions When Trading

When you are trading Forex, especially when you are new to the market, there are a lot of emotions that you have to deal with. Forex trading can be a very rewarding market, and it is something that millions of people are interested in around the world.

But, when you are trading with your own hard-earned money, it is very easy to become emotional, or even greedy, and lose all of it or simply miss out on a great opportunity because you could not control your emotions.

This is actually something that happens very frequently in the Forex trading market. As much as the market can be rewarding, there always is a huge risk of going out of the way because of emotions. While there are many ways you can learn to control your emotions, even the most experienced traders in the market still find it hard sometimes to stay focused.

The Forex expert advisors come in handy in these types of situations. There is only so much that human emotions can handle, but when it comes to expert advisors, they do everything without any emotions. This way, everything becomes very technical.

If you had a great plan for your trading, the expert advisor is able to make it happen without any problems. Because there are no emotions that it feels, it is able to follow every single step that you provide perfectly. In addition, the room for human error is almost non-existent while trading with expert advisors, which makes it a great option.

Extra Time for Thorough Research

While there are many advantages of using Forex trading expert advisors, one that is on top of the list is that it can give you a lot of free time to do things that you are actually interested in. The actual Forex trading research can take a lot of time.

The research mostly includes analyzing a bunch of different types of information, this includes press releases, reports, news articles, and many other things. In addition to this, you will also be required to do an extensive technical analysis on the currency pair you are trading.

This can take a lot of time and until you are done, the opportunities might already be lost. There is always a certain limit on the amount of data a human can analyze in a short time, but when it comes to automated trading, the limitations very much go away.

The expert advisors are able to analyze the market for you in a matter of minutes, or even seconds. Thanks to the fact that they are so quick with their analysis, you do not have to spend much time thinking about your positions, which gives you the ability to do thorough research on other things in the market.

You can learn more about Forex trading while your expert advisor trades Forex for you. You can research different types of trading strategies and even test them using your expert advisors. The extra time that the Forex expert advisors give you is simply too hard to deny, and it is one of the biggest reasons why EAs have become so popular over the past few years.

Easier to Diversify

Some of the best Experts Advisors in the FX market are capable of giving you access to numerous different markets. While they largely focus on the currency pairs, some of them are able to work on other markets as well.

Because expert advisors are so quick to react to different types of changes in the market and to make important decisions as well as moves in a matter of seconds, they give you the ability to invest in numerous assets at the same time.

Some of the expert advisors available in the market are able to initiate several trades for you. Because you do not have to do much research, you will be able to easily diversify your trading portfolio by using expert advisors.

But, why is diversification important at all? Well, there is a very simple answer to this question. The more diverse your portfolio is, the better you are able to manage the general risks of the financial markets around the world. There is always something that can go wrong when it comes to trading and investing.

There might happen something very important that can send the stock trading market down, but by making sure that you have a diverse trading portfolio, you can be sure that you have other investments that can help you survive the financial hardships.

Because the trading expert advisors are so quick to trade and so easy to use, they give you the ability to diversify your investments and trading portfolio in a very easy and useful way. Because of this, they are very popular in the market and are used by thousands of traders around the world.

Why Forex EAs Are a Bad Idea

While Forex trading expert advisors can be very helpful, there also are some disadvantages that traders should keep in mind. There are numerous things that make expert advisors very popular, but it is a fact that these programs seem to be less effective in higher volatility.

Sometimes, there are some things happening in the market that are very hard to control. In these situations, your positions need to be judged from a totally different point of view, and the expert advisors seem to be weaker in this case.

In addition, as much as expert advisors can help you to generate income, it is very hard to make huge profits trading with EAs. But, this does not mean that you should avoid using EAs. The thing about them is that they are very useful for some traders, but for others, they are not as helpful.

So, understanding what your needs are in the market can help you make a well-informed decision about whether or not to use trading EAs. Below, we will discuss the main disadvantages of using EAs, which can help you better understand if they can be helpful for you.

Weak Against Volatility

The biggest disadvantage of using expert advisors is that they are basically pre-planned programs that follow strictly set guidelines very carefully. Even if there is something happening in the market that can have a negative impact on your positions, the expert advisor won’t be able to perfectly detect it because it basically follows the plan that you have given it.

Although not as volatile as other markets, like crypto trading, for example, Forex can still get volatile from time to time. This is especially true in the most active hours of the market as well as periods when important data or press releases are published.

The expert advisors are not able to make decisions on their own. Because of this, whenever something very important happens in the market, you will have to edit the parameters of the expert advisor manually.

Because of this, it is very important to make sure that whenever you are using expert advisors, you do not distance yourself fully from the Forex trading market. The fact that you are using EAs does not mean that you can simply forget about the Forex trading market and watch your money grow.

This is not that simple, you still have to follow the changes in the market and make sure that you change the parameters of your EA whenever you see that there is something coming up that could potentially take the market in a different direction than you anticipated.

Not Very Profitable

We have noted earlier in the guide that EAs can help you generate a stable and decent profit from your investments. It can help you slowly grow your money and can truly be very reliable. However, it would be a lie if we told you that you can make millions by using EAs.

When it comes to traders who are looking for high-risk/high-reward trades, using expert advisors might not be the best option that you have. The expert advisors can’t promise you a 100 percent success rate. This is simply not realistic.

On the other hand, they can be very much realistically able to make profits of about 50-60 percent, some even more than that. But, this is not enough to make very high profits. So, if you are someone who is looking for ways to become a trader who makes huge profits from the Forex trading market, it might be better if you looked for other ways to invest in the Forex market.

On the other hand, if you are looking for a stable and safe income in the Forex trading market and you do not want to do all the hard stuff on your own, the expert advisors in the Forex trading market can be a great help for you.

So, once again, it is very important to understand your needs before you start looking for the best experts advisors in the FX market.

As with anything else in the Forex trading market, expert advisors also come with numerous advantages and disadvantages. Just because there are some disadvantages associated with the EAs, it does not mean that you should avoid using them. It is a very personal decision that traders have to make on their own according to your personal needs and hopes in the Forex trading market.

Custom-made vs Bought EA

As we have already said throughout this guide, there are many options that you have when it comes to getting yourself a well-developed, useful expert advisor for currency trading. Expert advisors are native to the MetaTrader trading platform, and they are very frequently used in the market.

There are some traders who prefer to create expert advisors specifically tailored for their own needs. These types of traders mostly create their own expert advisors which are very helpful personally for them. On the other hand, there are others who prefer to get pre-made, ready-to-use expert advisors.

Depending on the type of trader you are, you can go either way. No matter which one you use, as long as you understand your needs in the market, any of them can be of great help. Let’s discuss how each of them works below and see which one fits your personal needs the best.

Custom-made

One of the best ways to use the expert advisor while trading currency pairs is to use the one that is created specifically according to your personal needs. There are numerous advantages that using custom-made expert advisors has.

First of all, when you are using an expert advisor that was created specifically for you, you can be sure that it was created with your needs in mind. This type of EA is tailored to you. The best thing about custom-made trading EAs is that you can create them on your own.

It is a very simple process and takes only basic skills. However, it is very important to be very focused when you are working on your custom-made EA so that it is helpful and perfectly functional for your needs.

Creating your own, custom-made trading expert advisor is very cheap. This is why so many people prefer to do so when they are trading Forex. This way, you will not have to worry about paying someone huge amounts of money every month or every year.

That said, as much as it can be a great idea to create your own expert advisor, it is very likely to take a very long time. Because it is such a time-consuming process, some traders prefer to go with bought versions.

Another very important factor of custom-made EAs is that they are very hard to be of high quality if you do not have enough experience in programming. One thing that can help you to make sure that your expert advisor is useful is to always backtest it before you use it for actual trading.

Backtesting is a very important thing that can help you see how your strategy or EA would work in specific market conditions. This way, you can better tell how useful it is before you start trading with your own funds.

Bought

If you believe that creating your own custom expert advisor is too much and it simply is not worth your time, you can always go with bought EAs. However, you should be aware that there are some things that can be a bit hard to be ignored when using bought expert advisors.

One thing about paid EAs is that they mostly are not 100 percent relevant for your personal trading needs. This is especially true when compared to custom expert advisors. Bought expert advisors are mostly created for a larger population and are very general so that they can fit as many traders as possible. Because of this, it might not be very relevant.

In addition, they also tend to be very expensive. Sometimes, creators of expert advisors require very high payments. But, this mostly happens for a reason. Because there is so much energy and resources that are put into the expert advisors, they are very likely to cost you a lot.

But, although there are some drawbacks, a huge part of Forex traders in the market are still very actively using bought expert advisors. The main reason for this is that they are mostly of very high quality and are made by experts in Forex as well as in programming. Because of this, they are very likely to have no problems functioning and can even make consistent and high profits.

Also, they mostly come in lots of variety. There are numerous people who have created expert advisors and you have a lot to choose from. This way, you are very likely to find something that works better for you than the others.

Wrapping Up

Expert advisors have always been very popular in the Forex trading market. An expert advisor is a piece of software that is able to analyze the market and provide you with signals about the best market conditions in the market or even initiate trading for you.

Expert Advisors can help you trade Forex more successfully and securely. There are many of them available, but it is very important to always stay focused when you are deciding which one to use. It is always a good idea to double-check the effectiveness of the expert advisor by backtesting.

This way, you can see how it acts in different types of market conditions and decide whether you want to use it for trading or not. One very important thing to do when you are using EAs is to do very good research before you decide to commit to any single expert advisor.

Also, as much as EAs can be very helpful for traders, it is also very important to understand some of the drawbacks that come with them. By making sure that you have realistic expectations about EAs, you can better judge the outcome that you receive from them.

There are different types of EAs available in the market, you even can create one of your own. To make sure that you are using EA for the best outcome, you should understand exactly what your wants and needs are of the market.

While EAs can make Forex trading much easier for traders, it is also very important to not distance yourself from the FX market as there can always be something important happening in the market that you should know.

Frequently Asked Questions on Forex Expert Advisors

What is the best forex expert advisor?

Two of the best Expert Advisors in Forex are Zeus EA and Ultima EA. Both of them are automated Forex trading systems that were created for the currency trading market by professional traders who know exactly what traders are looking for in the FX trading market. Zeus EA is largely focused on EUR/USD currency pairs and can be very helpful for those who are trading this pair.

Ultima EA was created by two very experienced traders in the market, Mislav Nikolic and Chris Svorcik. They worked very hard to create something that could fit the needs of different types of Forex traders. This makes both of these trading platforms very popular and good in the market.

Do expert advisors really work trading?

Of course, Forex trading expert advisors really work. There are different types of them available in the market and all of them have different success rates. There are some traders who are using custom-made expert advisors that are specifically tailored for their own needs, which are very likely to work better for specific traders.

On the other hand, there are others who use trading excerpt advisors that are created by professional traders and programmers which can work better for some than for others. All in all, as long as you make sure to use legit and reputable expert advisors, it should work for you.

But, it is very important to make sure you understand that you won’t be making a fortune using EAs in Forex. They are mostly created for traders looking for stable income from the market.

How much does a forex EA cost?

It depends on the expert advisor that you are using. Generally, it costs about $200-300 a month. But, most of them offer different types of subscription options that can make a huge difference. In most cases, if you are using a yearly subscription option, you will be required to pay a 12-month fee at once, but it mostly tends to be lower when you pay it altogether.

Some EAs might even cost more than $300 a month. This is a very hard question to answer as there are so many EAs available in the market. At the end of the day, the price of EA depends on numerous factors, such as the possibility of higher returns, for example.

How do I build my own EA?

The first thing that you need to know before you start building an EA is to know how MQL4, the programming language of MT4, works. Then, you will need to get yourself an EA builder tool, there are several of them available in the market.

After you understand the basics of coding EA, you continue by focusing on details, such as your trading style, methods you want to use, and the pairs you want to trade. Creating a simple EA that simply analyzes the charts should not be that hard, if you wish to add more details, you can continue learning more about the programming language of MT4 and adding different types of capabilities to your EA.

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