Forex robots can be extremely beneficial since they allow you to automate many aspects of trading to make more profits in the long term. There are all kinds of robots available on the market now, but they differ greatly in their capabilities, potential profitability, and price. That means you should definitely be aware of what affects the price of a certain robot to choose the most cost-effective option. That’s why we’re going to analyze how much a Forex robot should cost and give you several interesting options.
How to choose a robot
Forex robots are basically computer programs specialized in trading Forex pairs. These robots can be programmed to analyze the market automatically and execute trades. They have several advantages: such robots are quick, effective, and rational. They are not affected by emotions, and they are suitable for scalping: just run the program and make hundreds of successful trades in a row without managing each of them. However, there are many kinds of robots with different features on the market.
Today, there are Forex robots that are distributed for free: some major brokers can provide you with a relatively simple trading bot to help you learn and make profits. However, such robots are usually very limited in features and suitable only for beginners. If you want something more functional and complex for executing your trading strategies, you’ll probably have to pay a subscription fee. Anyway, it’s really important to understand whether your Forex robot price is justified by its features.
Generally speaking, you should compare the subscription fee of your trading bot to the profits it helps you earn on the market. If you’re earning at least twice as much, it starts to look like a good deal. Lots of good bots cost somewhere between $100 and $250, so don’t overpay for additional features you’ll never use. If you still don’t know what to choose, we have several trusted options for you.
This broker allows you to build your own bot without any coding experience. The service is extremely user-friendly, and you can test your bots in a web terminal with real-time market data.
This robot is completely free yet can bring you up to 70% in profits if used the right way. It also has an impressive variety of additional options and a great support service to help you out.
One of the best bots for scalping, Alfa Scalper has lots of useful features, a simple interface, and what seems like a very attractive price: just a one-time $147 fee.