The term drawdown rate holds a lot of significance when it comes to forex robots and automated expert advisors. The drawdown of an asset is a risk measure defined in terms of the running maximum of the asset’s spot price over some period. When selecting forex robots, the drawdown rate is used as a factor to evaluate their effectiveness. Lower the drawdown rate, the less risky strategies are being applied by the forex robot. However, not all forex robots have a desirable drawdown rate, which leads to unexpected losses. To help traders who are just getting into forex robots, we’ve compiled a list of 7 best forex trading robots with drawdown rates of under 50%.
InControl Reborn is a forex robot that is easy to set up. The EA comes with verified 2-years trading results, along with 14 years worth of backtesting results with the various features (on and off). One of the salient features of InControl Reborn is the ability to work with other EAs on the same trading account at the same time. This is why it is a good idea to use this robot along with another EA that trades frequently. Other brand new features include accelerator mode, drawdowns control, two currencies, and risk diversity.
FXProud EA is a forex robot package that provides two separate automated applications. While one trades the gold pair (XAU/USD), the other is simply called VIP. The forex robot supports ECN, NDD, Standard, and micro-accounts but does not allow hedging and scalping. It mostly trades after the main 10 am scalping hour when most news is realized and the US and European markets open. FXProud EA also comes with third-party verified real account trading results. It also comes with a 30-day money-back guarantee program.
FXstabilizer is a forex robot that ensures regular profits, low drawdowns, and good durability and reliability. Introduced in 2015, the product is offered in two modes: Pro and Ultimate. The Pro model works mainly on AUD/USD and EUR/USD but works on all other 6 pairs. While the Pro version costs $739, the ultimate model is priced at $539.
Forex Cyborg is a forex robot that offers two modes – conservative and normal trading modes. It mainly trades during the second part of the American trading session (5 p.m. to 11 p.m. GMT). However, it does not allow hedging, arbitrage, and martingale strategies. This robot is able to work with different spreads and slippages.
Happy Galaxy is a forex robot that trades in the direction of the trend. To avoid trading in volatile market conditions, it uses a built-in news filter. It can auto-detect 4 or 5 quotes, which makes it compatible with almost any broker. Additionally, it can easily reduce drawdown while maintaining profits providing a good risk-reward ratio. Happy Galaxy works on the H1 time frame and trades on EUR/USD, GBP/USD, USD/CHF, EUR/GBP, and EUR/CHF. The algorithm trades hourly candles, which open each trade when a bar finishes on the H1 chart.
GPS Forex Robot 3 is an updated version of the EA of the same name. It allows changing any parameters of trading. The robot comes with backtests provided and real account trading results. It ensures an extremely high win rate and proven trading results. It also comes with a 60-day money-back guarantee program. GPS Forex Robot 3 is priced at $150, which is very reasonable for the features it provides.
News Action Trader is a scalping forex robot that works on six currency pairs including gold. It is compatible with both MetaTrader 4 and MetaTrader 5, unlike regular scalpers. This robot is designed to be suitable for average execution span and spreads. It works very well with highly liquid currency pairs as it has a short holding time. There are two pricing packages for this product. The two-month plan costs $247 while the lifetime license costs a one-time payment of $397.
With so many forex robots to choose from, it becomes a daunting task to make the correct choice. Evaluating the robots on the basis of drawdown rate in conjunction with other parameters can help make a better choice.