The Best Forex Robots in Nigeria
Forex trading is emerging every day, this is due to the multiple tools that traders have to manage more only.
The use of Forex Robots in trading can be a valid support for operating on this market automatically and managing a large number of transactions. What are? How do they work and what are the benefits? Below we will answer all these questions, analyzing their main characteristics before listing out 8 of the very best that gave been tested and trusted by the best experts in the business.
What are Forex Robots
The term Forex Robot is considered a system that uses an algorithm and a programmed language to allow you to carry out investment operations independently and independently. This means that they are tools that allow you to operate on the currency market without the direct intervention of the trader, but referring to a series of preset rules. This is why we also speak of automatic trading.
Today, their use is widespread both among investors who have experience on the market and among those who are approaching the world of currencies for the first time. Their use is intuitive and requires a few steps. This is possible thanks to specific characteristics.
How do they work?
The Forex Robot uses an algorithm combined with an artificial intelligence system that allows you to automatically manage trading activities, or offer a series of tools to operate and analyze to better evaluate investment choices. In the first case, the Forex Robot provides the possibility to copy the positions of another more experienced trader, as in the OctaFX CopyTrader system, by replicating the various open positions.
Instead, in other cases, the robot intervenes by offering a series of information and analyses that allow you to evaluate the trading activities performed and improve them, proposing a series of alternative or integrated investments. The typical example is that of the MetaTrader 4 platform which provides this system.
Furthermore, the Forex Robot also works as a system to simplify trading. You will have the possibility of obtaining alerts, including real-time alerts, which are activated when there is a change in a parameter indicated in an asset, or with stop losses and take profits. In the first case, losses can be limited if the value of the currency falls below a predetermined limit. Conversely, take profits to allow you to make a profit once the desired price is reached.
Comparison of the 8 best Forex Robots in Nigeria
1. Binbotpro Crypto
The Binbotpro is considered by many as the best Cryptocurrency Forex robot, with an intuitive platform and easy handling for both experts and novices.
One of the features that have positioned it as an original software is the ability of instant withdrawal and transparent trading of this platform. To get BinBotpro Crypto is to be guaranteed a successful trading experience in the digital currency market.
To enjoy its services, registration is required, a process that will not take more than 5 minutes, the minimum contracting plan is $250 ( you’ll have to convert against the naira in the present exchange rate). It has other options that have many more commercial functions and allows you to learn more about the service.
2. Worthy FX
This forex robot has been specially designed for traders who are inclined towards options or a bit more sophisticated setups to manage money. It has an algorithm that operates several times a month, it only quotes the EUR GBP pair, being one of the smartest alternatives for being the currency pair that falls the most and has good volatility.
During the close of the Worthy FX market, you enter limit orders according to the principle of the swing strategy. PT profits are set at 300 pips and the SL is trailing stop, which ensures that the bigger the move, the more profits can be made.
3. Piphiker EA
The Pip is the favorite forex robot of many Nigerian operators since the system at the moment of starting begins to operate immediately. This feature is what has positioned Piphiker EA as the best forex robot on the market since this immediate effectiveness of automatic trading is what many people are looking for.
In addition to this, it builds a grid with many strategies, using hedging to make the system much more stable. Its strategy is based on selecting the pairs that are changing, currently, the most quoted is the GBP.
4. World Market
This Forex robot is an AI-managed account platform, in the world markets that offer the strongest results.
The AI trading system is fully tested, allowing assets such as Exotics, Gold, Silver, and Digital Gold to be delivered.
It has a high-frequency algorithm that offers the most outstanding results in the market, that is why the World Market forex robot is today the most indispensable trading platform for many traders.
It has an excellent team of professionals who manage the accounts, this guarantees investors a safe and profitable trading transaction.
As for the robot, World Market has a program system that allows the market conditions to be predicted with the greatest accuracy and precision.
This has made World Market the most highly rated forex robot by trading experts by offering the most comprehensive benefits of artificial intelligence trading.
It is the most accurate auto-execution software, it is designed with machine learning and artificial intelligence techniques, to trade efficiently in advanced automatic cryptocurrency forex trading.
This robot has a technical analysis algorithm that is operated by a machine, which guarantees traders the best results. It provides highly valuable and useful information on the potential movement of asset prices.
Nigerians who choose ETBot as their forex robot will have the opportunity to scale the growing demand for the Crypto assets that are available for trading.
The ETBot robot automatically handles the trading of Bitcoin, Litecoin, Ethereum, among others, all operations carried out have full custody of funds. For these features, it has received approval from many qualified crypto experts in the industry.
Its registration process is very fast and simple, the platform is designed for the handling of experienced traders and beginners.
The AvaTrade system efficiently purchases one currency using another, also known as currency pairs.
One way to do it is by using the most common one, which is EURUSD, this currency pair indicates that you are buying EUR with USD, when the pair is sold it is shown in the opposite direction, buying USD selling EUR. With AvaTrade Currency pairs presented as the rate reflect the ratio of values of the two currencies.
The aspect that makes AvaTrade the best forex robot is that it can be traded with complete confidence, it is also known internationally as a regulated broker.
It offers more than 50 currency pairs to handle, trading major, minor and exotic pairs. As for the Spreads, they are the most competitive, their trading platform allows you to manage operations manually or with automatic trading, even as leveraged trading.
The AvaTrade platform is user-friendly for AI trading experts and beginners alike by making it easy for you to master trading skills. All online trading training material is of the highest quality and the market analyses presented are updated daily.
It has personalized customer service and lives multilingual support.
This robot, the most profitable web-based software for CFDS auto trading, can select top-tier trading indicators, giving you the flexibility to choose the most suitable strategy and automate it.
It is a system that is known as oblivion since its configuration is based on the web, so you will not need to download anything to use the system.
This forex robot is considered the best compared to any other forex EA for the ease of use, support options, and profitability it offers. For users or investors who prefer to stay in a niche, DaxRobot is ideal for handling CFDs, this robot will offer them a lot of content to learn about CFDs.
8. FX Master Not
This kind of forex trading software can be configured by the user to obtain the best results because it has the simplest trading platform.
With FXMasterBot, the client can raise their trading activity to a higher level in the simplest way when performing operations.
This is due to the trading algorithm with which it is developed, in which it will never be required to do any financial analysis since the FxMasterBot forex robot does it for the client.
Its design makes it easy for Nigerian users to change signals and strategies the way they want, based on needs and preferences.
One of the most outstanding aspects of FXMasterBot is that it broadcasts live data, which guarantees that you are always up to date with the latest market movements. It has a new signal every minute that has elapsed and with 17 forex pairs and 5 cryptocurrencies.
This forex robot is reliable since it works with brokers of the highest reputation and with different licenses granted by regulatory bodies.
Why and When to use Forex Robots in Nigeria
Forex robots are very good for trading in a highly liquid market like Forex. In fact, first of all, they also allow traders who have little experience to start investing in currencies right away, with the possibility of choosing a variable risk rating.
Furthermore, these robots have the opportunity to identify the most interesting type of investment that reflects one’s investment strategy, thanks to alerts. Furthermore, it must be considered that it will also be possible to operate on multiple currency pairs simultaneously, without worrying about the closure of their position, since by setting the stop loss and take profit this operation will take place automatically.
Finally, it must be assessed that through Forex Robots it will be possible to improve one’s trading strategies, obtaining analysis on what the investment activity maybe that reflects one’s investor profile.