As the calendar flips to 2024, the financial markets in the UK are witnessing an unprecedented revolution led by cutting-edge technology: forex trading robots. These revolutionary automated systems have swiftly become the game-changers, empowering traders with unparalleled precision, lightning-fast execution, and the potential for extraordinary profits.
If you have been looking to automate your forex trading activities using forex trading robots, we have prepared this guide for you. Today, we will unveil the most formidable and advanced trading robots forex tools that are revolutionizing how trading is done in the UK. We will also share our opinion regarding our experiences with the robots and additional information to help you make the best decisions.
Essence
- The best forex trading robots offer automation, efficiency, and emotion-free trading.
- The best forex trading robots have backtesting features to ensure you test their effectiveness before making a selection.
- At TradingGuide, our recommendations feature trading robots that we have fully tested and approved.
- User insights from legit platforms like Trustpilot, Google Play, and the App Store provide valuable feedback.
- You must choose the right forex trading robot based on factors like reputation, backtesting, and costs for an exciting experience.
- The best forex trading robot in the UK must fully integrate with a legit forex broker.
List of the Best Forex Trading Robots in the UK
- Forex Fury – Best Overall Forex Trading Robot
- 1000pip Climber System – Top Forex Trading Robot For Low-Budget Traders
- Coinrule – No Code Forex Trading Robot
- Forex Gump – Best Forex Trading Robot For Professional Traders
In this guide
Top 4 Best Crypto Trading Bots in the UK 2024
- List of the Best Forex Trading Robots in the UK
- Compare The Best Forex Trading Robots in the UK
- Overview of Our Recommended Forex Trading Robots’ Fees and Assets
- Our Opinion & Overview of the Best Forex Trading Robots in the UK
- What Do Other Traders Say?
- The Ultimate Guide About Trading with Robots
- FAQs
Compare The Best Forex Trading Robots in the UK
Our comparison table below sheds light on the significant features of the best forex robots in the UK. We hope that the information shared below will help you make the best forex trading decisions.
| Best Forex Robots | Minimum Deposit | Trading Markets | Software | Payment |
|---|---|---|---|---|
| Forex Fury | £0 | Forex, Cryptos, Indices | MT4, MT5 | E-wallets, bank transfers, credit/debit cards |
| 1000pip Climber | £0 | Forex | MT4 | Debit/Credit cards |
| Coinrule | £0 | Forex, Crypto | MT4 | E-wallets, bank transfers, credit/debit cards |
| Forex Gump | £4,000 | Forex | MT5, MT5 | Credit/Debit cards, PayPal |
Overview of Our Recommended Forex Trading Robots’ Fees and Assets
The first thing to consider when looking for the best forex trading robot in the UK is security. However, most traders prioritise affordability to ensure they budget accordingly and trade without overspending. They also look for bots supporting their preferred assets for maximum experience. In this regard, we have prepared two tables below showing the applicable fees and assets when using the robots we recommend for informed decisions.
Fees
| Forex Robot | Fees | Minimum Deposit |
|---|---|---|
| Forex Fury | £229.99 for Gold package and 439.99 for Diamond package | None |
| 1000pip Climber System | £299 (one off payment) | None |
| Coinrule | £29.99 for Hobbyist, £59.99 for Trader, and £449.99 for Pro accounts | None |
| Forex Gump | £199 for standard account and £399 for premium account | £4,000 |
Assets
| Forex Robot | Forex | Stocks | Cryptos | Indices |
|---|---|---|---|---|
| Forex Fury | Yes | No | Yes | Yes |
| 1000pip Climber System | Yes | No | No | No |
| Coinrule | Yes | No | Yes | No |
| Forex Gump | Yes | No | No | No |
Our Opinion & Overview of the Best Forex Trading Robots in the UK
As professional traders and researchers in the forex industry, our goal is to ensure we supply you with quality information and recommendations that will maximise your potential. For this reason, we went out of our ways to conduct multiple tests and comparisons on as many forex trading robots as we could. In the end, we came up with a list of the options below. You can analyse our opinions regarding our experiences with them for informed choices.
1. Forex Fury – Best Overall Forex Trading Robot
Forex Fury is a well-established and highly regarded forex trading robot that has consistently impressed traders with its performance. Our experience with the robot was seamless, and therefore, we consider it the overall best for any UK forex trader looking to automate their activities. Besides the modern-design platform, we enjoyed real time automated results while using Forex Fury. Plus, its algorithms are designed to adapt to changing market conditions, which came in handy while we were making trading decisions.
We tried using Forex Fury to automate other assets and it was helpful when it came to cryptocurrencies and indices. Therefore, if you always diversify your portfolio using these assets, the bot is perfect for you. You can access it via any forex broker with MT4 and MT5 platforms.
- Availability of quality learning materials and responsive support team
- You only get to purchase it once, makingthe bot ideal for long-term forex traders
- High performance forex trading robot that boasts of a 93% winning track record
- A fully automated robot with customisable features
- No live and phone support
- High price tag
| Robot Features | Availability |
| Minimum Investment Amount | None |
| Supported Assets | Forex, Cryptocurrencies, indices |
| Mobile App | No |
| Payment Methods | E-wallets, bank transfers, credit/debit cards |
| Customer Support | Email, FAQs |
2. 1000pip Climber System – Top Forex Trading Robot For Low-Budget Traders
1000pip Climber System is another state of the art forex trading robot designed for all types of traders. However, while exploring the robot, we noticed that it has purchase offers from time to time. For instance, in the month of July 2023, the robot offered a 67% flash sale for all its services — an opportunity you can never wish to miss out on. We also enjoyed the strong signals 1000pip Climber produced, and enjoyed our experience.
The 1000pip Climber System doesn’t have a minimum deposit requirement. This, together with the low lifetime license fee makes it suitable for low-budget forex traders. Setting it up was pretty straightforward, and the fact that we made profits using it makes us believe that this forex robot is fully mechanical with zero guess work. You can try the 1000pip Climber System via any credible forex broker supporting the MT4 platform.
- User-friendly and intuitive design platform
- A high performance forex trading robot with customisable features
- Fully automated with risk management tools
- No minimum account size
- No e-wallet payments
- Automates forex assets only
| Robot Features | Availability |
| Minimum Investment Amount | None |
| Supported Assets | Forex only |
| Mobile App | No |
| Payment Methods | Credit/debit cards |
| Customer Support |
3. Coinrule – No Code Forex Trading Robot
Coinrule is a unique forex trading robot that sets itself apart from traditional expert advisors due to its “no code” approach. While using Coinrule, we created and customized our trading strategies without the need for complex programming knowledge. The robot allowed us to trade using 14 rules simultaneously, and we also enjoyed the services of professional expert advisors. Moreover, the robot is user-friendly, which made it easier for us to build automated trading rules based on technical indicators, price movements, or even news events.
Although Coinrule might seem suitable for newbies, professional traders will also enjoy its services. Not only did we explore quality learning resources but also advanced tools to help with market analysis while the robot managed our trades. And besides forex, Coinrule is also one of the best crypto trading bots to try this year.
- Works with MT4 forex brokers and a wide of crypto exchanges
- Has a free forex trading robot account subscription option
- Choose from various subscription options based on your forex trading needs
- Modern-design and user-friendly interface
- No live chat or phone support
- No native app
| Robot Features | Availability |
| Minimum Investment Amount | None |
| Supported Assets | Forex, Cryptocurrencies |
| Mobile App | No |
| Payment Methods | Credit/debit cards, e-wallets, bank transfers |
| Customer Support |
4. Forex Gump – Best Forex Trading Robot For Professional Traders
For experienced and professional traders seeking a robust and highly customizable forex trading robot, Forex Gump stands out as an excellent option. We explored the robot using our MT4 and MT5 forex brokers, and were able to try advanced features. These include the ability to implement complex trading strategies, utilize multiple timeframes, and integrate various indicators.
Forex Gump’s strong backtesting capabilities allowed us to fine-tune our strategies based on historical data, thus optimizing our performance in different market conditions. The expert advisor also offers a variety of risk management tools and options to help professional traders exercise precise control over their trades. Sadly, Forex Gump Requires that you deposit at least £4,000 or £40 for those trading forex using micro or cent accounts.
- A 30-day money back guarantee
- Supported on standard, micro and cent accounts
- Easy to set up
- Access to advanced resources that could benefit expert traders’ activities
- Limited currency pairs
- Automates forex trades only
| Robot Features | Availability |
| Minimum Investment Amount | £4,000 |
| Supported Assets | Forex only |
| Mobile App | No |
| Payment Methods | PayPal, Credit/Debit cards |
| Customer Support |
Read about the crypto copy trading bots in our another guide.
What Do Other Traders Say?
We value the opinions of other traders who have experienced trading using the best forex trading robots in the UK. Therefore, we toured Trustpilot, and below is a summary plus a few examples of user comments we gathered from the platforms. Remember, our recommended forex trading apps do not have native apps, and so there were no user comments on Google Play and the App Store.
Forex Fury
Forex Fury received generally positive reviews from traders. Users praised its ease of use and ability to generate consistent profits. Many commented on its versatility in handling different currency pairs, offering a wide range of trading opportunities. However, some users mentioned experiencing occasional drawdowns during volatile market conditions. Check below some of the comments.
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“I’ve been using Forex Fury for six months, and I must say I’m impressed with its performance. It’s easy to set up, and the support team is very responsive. I’ve seen steady profits, but there were a few instances of drawdowns, so stay cautious during high volatility.” – John T.
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“Forex Fury has been my go-to robot for over a year now, and it has consistently delivered results. The EA is flexible with different currency pairs, and I’ve seen some great gains. Highly recommended!” – Sarah P.
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“Initially, I was skeptical about using an EA, but Forex Fury has changed my perspective. It’s user-friendly, and I like the risk management options. My account has grown steadily, and I feel more confident in my trading now.” – Tom W.
1000pip Climber System
The 1000pip Climber System garnered positive feedback for its affordability and ease of installation. Traders appreciated its user-friendly interface, making it suitable for beginners and low-budget traders. Many users reported experiencing profitable trades, but a few mentioned that the system might benefit from more frequent updates. You can see below a sample of unedited reviews for informed decision.
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“For the price, 1000pip Climber System is fantastic! It’s easy to use, and I managed to recoup the cost within a few weeks of trading. However, it would be great if they updated the system more frequently.” – Alex R.
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“As a beginner, the 1000pip Climber System was perfect for me. I had no trouble setting it up, and it started making trades right away. The profits have been modest but steady. Happy with my purchase!” – Emily S.
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“1000pip Climber System has helped me trade forex without breaking the bank. The signals have been accurate most of the time, and I’m satisfied with the results so far.” – David H.
Coinrule
Coinrule, with its no-code approach, garnered praise for its user-friendly interface and flexibility. Traders appreciated the ability to customize their trading strategies without requiring programming skills. While many users found success with Coinrule, some mentioned that the platform could benefit from more technical indicators.
Below are some of the forex trading robots reviews we found on Trustpilot.
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“Coinrule’s drag-and-drop interface is brilliant! I was able to create my trading rules without any coding knowledge. The platform works well, but I’d love to see more technical indicators added in the future.” – Megan L.
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“Coinrule made automated trading accessible to me, and I love how I can experiment with different strategies. The team is responsive, and the platform runs smoothly. Highly recommended for traders who want to take control of their trading!” – Jack M.
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“Coinrule is a game-changer! It’s so easy to use, and I appreciate the freedom to create my strategies without coding. The only improvement I’d suggest is adding more indicators to enhance the analysis options.” – Laura B.
Forex Gump
Forex Gump received praise from experienced traders for its advanced features and customization options. Users appreciated the ability to implement complex strategies and access various indicators. However, some mentioned that the platform could be overwhelming for beginners. Here is what a few traders had to say.
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“Forex Gump is a powerful tool for experienced traders. The customization options are extensive, and I appreciate the access to multiple timeframes and indicators. However, newbies might find it a bit overwhelming at first.” – Jason H.
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“Forex Gump is excellent for those who want to fine-tune their strategies. I’ve been able to create some sophisticated trading systems and backtest them effectively. The only downside is that it might not be the best choice for beginners.” – Sarah L.
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“Forex Gump is a solid EA for professionals like me. The options and features are impressive, allowing me to optimize my trading. I don’t recommend it for beginners, but experienced traders will find it valuable.” – James T.
The Ultimate Guide About Trading with Robots
Now that you are familiar with the top 5 forex trading robots, we thought it is best to take you through additional information regarding forex trading bots to ensure you are fully prepared to get started. Our goal is to not only recommend the best trading robots but also share accurate information to help with your decisions.
How to Start Trading Forex With Robots
Engaging in forex trading necessitates a firm grasp of its dynamic nature, which involves trading currency pairs and substantial market volatility, leading to potential gains as well as losses. Before entering the forex market, crafting a well-defined trading strategy and establishing a robust risk management plan to safeguard your investments is essential.
Moreover, exercising caution is imperative, as there is a risk of encountering forex broker scams and unregulated platforms. Since this market operates 24/7, always invest with what you can afford to lose. Plus, stay informed about market developments and continuously educate yourself to make well-informed trading decisions.
Remember that past performance does not indicate future results, and there are no guarantees of profit in forex trading.
Trading with robots might seem easy (which it is) if you have the right bot in your corner. However, you must understand how forex trading robots work before incorporating them in your activities. Most of these bots have demo versions you can explore to understand their operations. And if you are trading with a forex broker, ensure it can be integrated with your favourite robot for maximum experience.
Note that automating your trades using bots does not guarantee successful trading. In this regard, you must always plan for your activities and conduct market analysis for solid trading strategies. This way, you can easily monitor the bot’s activities to ensure everything works out as expected.
Read about the best paper trading platforms in our other guide.
How to Choose the Right Forex Trading Robot
Selecting the right forex trading robot is a critical step in your journey toward automated trading success. With numerous bots available in the market, it’s essential to consider various factors to ensure that you choose a robot that aligns with your trading goals and preferences. Here are the key points to keep in mind when making your selection:
A forex robot’s reputation is an essential aspect to consider. Look for user reviews and testimonials from traders who have used the robots. Positive reviews and a strong track record of customer satisfaction are indicators of a reliable, trustworthy, and effective robot. The bot must also be integrated with a reliable forex broker that is licensed and overseen by the Financial Conduct Authority (FCA) to avoid falling victim to scammers.
Backtesting is a crucial aspect of evaluating the performance of a forex trading robot. It involves running the bot on historical market data to see how it would have performed in past market conditions. Look for trading robots that have undergone extensive backtesting and have demonstrated consistent profitability over various market scenarios. Robust backtesting can provide insights into a bot’s historical performance and help you assess its potential effectiveness in current and future market conditions.
Drawdown refers to the percentage decline in your trading account from its peak to its lowest point. When choosing a forex robot, pay close attention to its drawdown rate. A lower drawdown rate indicates that the robot manages risk well and can help protect your trading capital during periods of market volatility. Aim for a robot that offers a balance between profitability and drawdown to mitigate the risk of significant losses.
While backtesting can provide valuable information, it’s essential to also review the robot’s live trade results. Many forex robot developers share real-time trading performance on their websites or through verified forex brokers. Analyze the live trade results to confirm that the robot’s performance matches the backtesting data. Be cautious of robots that lack transparent live trade results or those that promise unrealistic gains without verified proof.
Consider the costs associated with using the forex trading robot. Some forex robots are available for a one-time purchase, while others may require a subscription or a share of the profits earned. Additionally, be aware of minimum deposit requirements, any hidden fees or additional charges that may be involved in using a forex trading bot. Carefully evaluate the costs and fees to ensure they fit within your budget and align with the potential returns.
Before committing real money, always test the forex trading robot using a demo account. Reputable forex brokers offer demo accounts that allow you to simulate live trading without risking your capital. Use the demo account to assess the EA’s performance, execution speed, and overall user experience. This trial period will give you a better idea of how the robot operates in real market conditions.
Different forex robots may be optimized for specific currency pairs or financial instruments. Some robots perform exceptionally well with major currency pairs, while others may excel in trading commodities or cryptocurrencies. Depending on your trading preferences, select a robot that focuses on the financial instruments you wish to trade to maximize its effectiveness.
What Is a Forex Trading Bot or Robot?
A forex trading bot, also known as a forex robot, is a software program designed to automate the process of trading in the foreign exchange market. These automated systems utilize algorithms and predefined trading rules to analyze market data, identify trading opportunities, and execute trades without the need for manual intervention. When using forex trading bots, traders get to save time and focus more on strategy development. However, it is crucial to track the bot’s activities for increased success chances.
Read about the automated trading sofware and UK crypto exchanges in our other guides.
How Does a Forex Robot Work?
A forex robot operates as a powerful tool that follows a set of customized rules to execute trades automatically on your behalf through your forex broker account. Through the use of various technical indicators, the robot continuously scans the market, seeking potential trading signals and acting upon them without any emotional bias.
For experienced traders, forex robots can also support and implement their trading strategies. Users can access commonly available technical indicators and create specific rules for the automated trading process to follow. For instance, a trader could set conditions for a long position trade to be executed when the 50-day average of currency pairs exceeds the 100-day average on a 20-minute chart.
By inputting these conditions, the forex robot will execute the trade automatically, eliminating the need for manual intervention by the trader. Additionally, traders can customize the robot by setting their own indicators to align with their preferred trading strategies and risk management techniques.
Once a trade order is executed, the forex robot promptly follows any protective measures, such as stop-loss or trailing orders, in accordance with the trader’s instructions. This ensures that potential losses are limited and profits are protected.
Forex Robot Trading: Who Should Try
Forex robot trading is an attractive option for a wide range of individuals interested in the forex market. Beginners who are new to forex trading can benefit from using forex robots as it provides an opportunity to learn and observe how trades are executed without requiring in-depth market knowledge. The automation aspect of forex robots also eliminates emotional biases, allowing beginners to gain experience with more disciplined trading decisions.
Experienced traders can also find value in forex robot trading. By leveraging automated systems, experienced traders can diversify their trading strategies and portfolios, exploring new approaches without dedicating significant time to manual trading. Note that forex robots can execute trades 24/7, enabling traders to capitalize on opportunities in various time zones and respond promptly to market movements. This flexibility and efficiency can be particularly advantageous for experienced traders who are managing multiple accounts or have other professional commitments.
Overall, forex robot trading caters to both newcomers and experienced traders, offering a convenient and potentially rewarding way to participate in the dynamic world of forex trading.
5 Quick Steps To Start Forex Robots Trading
Getting started with forex robot trading is a straightforward process that can enhance your robot forex trading experience and potentially improve your trading results. Follow these five quick steps to begin your journey into the world of automated forex trading.
Start by researching and exploring the various forex robots available in the market. Look for robots that align with your trading goals, risk tolerance, and preferred trading strategies. Pay attention to the robot’s performance history, backtesting results, and user reviews. Select a reliable and reputable forex robot that suits your needs. Alternatively, consider our recommendations above for the best forex bot.
To trade with forex robots, you’ll need to set up a trading account with a reputable forex broker that supports automated trading. Choose a broker that offers a user-friendly trading platform, competitive spreads, and reliable trade execution. Ensure the broker’s platform is compatible with the forex robot UK you have chosen.
After setting up your trading account, you’ll need to install the selected forex robot onto your trading platform. The installation process varies depending on the trading platform and the forex robot you are using. Follow the instructions provided by the robot’s developer to install it correctly.
Before deploying the forex robot on live accounts, it’s essential to test it using a demo account. Most reputable brokers offer demo accounts with virtual funds for practice. Utilize the demo account to observe how the robot performs under real market conditions without risking real money. Adjust settings and fine-tune the robot’s parameters during the testing phase to optimize its performance.
Once you are satisfied with the performance of the forex robot on the demo account, you can make a deposit and move to live trading. However, it’s crucial to start with caution and use proper risk management. Begin with a smaller trading size and gradually increase it as you gain confidence in the robot’s abilities. Monitor the robot’s performance regularly and make adjustments as needed to optimize its performance over time.
Pros and Cons of Using Forex Trading Robots
Forex trading robots have gained popularity as powerful tools that can automate trading processes and potentially enhance trading results. While they offer several advantages, it’s essential to be aware of their limitations as well. Let’s explore below some of the pros and cons of using forex trading robots.
- Traders can use them at any time of day
- They do not trade based on emotions
- Forex trading bots have proven to be more faster and efficient than humans
- Can be customised to suit advanced trading strategies
- Reduces stress, making it easier for you to focus on other trading or personal activities
- You need an internet connection to use a forex trading robot
- There is no guarantee of successful trades
- Trading robots are costly than human
FAQs
Yes. Forex robots can work effectively if they are well-designed and properly optimized. They can automate trading tasks, analyze market data, and execute trades based on predefined rules and strategies. However, their performance depends on the quality of their algorithms, historical testing, and adaptability to changing market conditions. Therefore, always conduct thorough research, choose reputable robots like the ones we recommend, and implement proper risk management to increase the likelihood of success.
The price of a forex robot can vary significantly depending on various factors, such as its functionality, performance, and developer reputation. Some forex robots may be available for a one-time purchase, while others may require a subscription or a share of profits earned. As a trader, consider a robot’s cost before making a choice.
Yes. Forex trading robots can work constantly as long as they are connected to the internet and the forex market is open. Forex robots can execute trades 24/5, allowing traders to capitalize on trading opportunities at any time, even during non-trading hours in different time zones.
Absolutely. In the UK, using forex trading robots is legal for as long as it is integrated with an FCA-regulated broker. We recommend above some of the bots with excellent user ratings you should consider.
Yes. Using forex robots can be beneficial for some traders. They offer automation, efficiency, and emotion-free trading, potentially leading to more disciplined and consistent trading decisions. However, we advise you to also learn the financial market you are trading to avoid over reliance on the forex trading robots.
Conclusion
Forex trading robots can be powerful tools that offer automation, efficiency, and emotion-free trading. They have the potential to enhance trading results and provide convenience for traders of all levels of experience. However, their success depends on various factors, including the quality of the robot’s algorithms, historical testing, and adaptation to changing market conditions. Therefore, traders should approach forex automated trading with caution by conducting thorough market research and choosing reputable robots that align with their trading goals and risk tolerance.
How we test?
Our test process is really based on two different aspects: our independent tests and research, as well as user reviews from Google Play, the App Store, and Trustpilot, etc.
The first thing we do when testing is to check every detail and test every tool and instrument. Our experts spend more than 200 hours on every article. We pay special attention to the specific function or the criteria that we’re comparing during the comparing stage. This means that we must determine which broker is more suited for beginners, and which is better suited for experts, for example. Find out more about our test process here.
This short article provides reviews of Forex Fury, 1000pip Climber System, Coinrule and Forex Gump, as well as opinions from real traders. As a trader, I feel like a fish out of water: detailed information about each robot - pros and cons, user reviews - it’s all here. This material makes it easier than ever to make informed choices about these trading instruments. In general, anyone who wants to hit the jackpot in financial waters, come here!
Following the recommendations from the provided article, I decided to create a demo account for the Forex Fury trading robot. This allowed me to systematically study its performance in real market conditions without risking real funds. The experience of interacting with the robot proved to be outstanding, and I highly appreciate its efficiency. The user-friendly interface, modern design, and real-time automatic results made using Forex Fury easy and effective. I also applied it to automate trading with cryptocurrencies and indices, adding further diversification to my portfolio. I gained access to the robot through various forex brokers using the MT4 and MT5 platforms. In the end, the article met my expectations, providing valuable information and a path to successful trading automation.