Most Profitable Forex EAs & Forex Signals 2020 List

forex most profitable ea and signal feature imageTrading

We cover the following 4 key agenda in this guide;

  • List of the Most Profitable Forex EA
  • List of the Most Profitable Forex Signal
  • Autotrading Forex Warning Services
  • Key Parameters for our selection

Best Forex Robots & Signals

Quality EAs & Signals make a huge difference to your forex trading. Use our lists to take advantage of non-emotional robots & reliable signals to diversify a trading portfolio that can reduce risks.

As explained in the selection criteria, the actual performance of all the listing services is verified by the 3rd party (either MyFXbook or FX Blue – you can access to their real-time record in each list) with at least 2 years historic data.

List of the Most Profitable Forex EA (Robot)

Forex Robotron

Forex Robotron has the dynamic profit feature which will close a trade as soon as it goes into a loss and the dynamic profit features, on the other hand, will ensure the robot exits at the best possible time.

The results show a low risk with tight stop loss and great consistency. See the 3rd party verified results in myFXbook;forex robotron myfxbook

The Real-Time Trading Update is;

Forex Gump

Forex Gump EA was created by the team headed by Ukrainian trader and developer Andrew Kozak.uses, well-known in MQL5 community. High-Frequency Scalping Trading with 1-minute time frame, robots will work 24×5 to look for opportunities and take profits. The 3rd party verified results is publicized in FX Blue;Forex Gump FX Blue

The Real-Time Trading Update is;

 

Flex EA

Flex EA is a highly rated EA including an automatic update system that can consistently provide profit without regularly updating the settings. In its active exclusive Forum, you can check the other members’ experience of this EA and exchange the opinions.

Currently, they run a huge discount of 67% off, use the code ‘FLEX67OFF’ at check-out. See the 3rd party verified results publicized in myFXbook;Flex FA myFXbook

The Real-Time Trading Update is;

FX Stabilizer

FX Stabilizer is created by the same vendor as FX Charger. They say their robot is characterized by regular profit without long drawdowns, incredible reliability and durability to all changes at the Forex market.

They don’t explain any specific strategy or security system, their multi-currency pair tradings (6 – 8 pairs) may contribute to risk management. However, the prices are high side. The 3rd party verified results is publicized in myFXbook;fx stabilizar myfxbook

The Real-Time Trading Update is;

Happy EA

Happy Forexproduced a wide range of EAs as shown in myfxbook below and they bundle 10 EAs and sell in full-pack. When you use MartGrid version, although the result shows very consistent, bear it in mind that Martingale strategy is a high-risk approach which can possibly blow your account overnight.

Currently, they run a 30% price off campaign. The 3rd party verified results is publicized in myFXbook;Happy EA myFXbook all ranges

The Real-Time Trading Update is;

FX Hunter EA

FX Hunter EA uses the most advanced grid control which provides almost perfect geometry of open baskets, regardless of current market conditions (slippage, increased spreads, etc). All that allows the EA to trade successfully in any market conditions, even during really high-impact news. 

FX Hunter works well in most brokers except NFA-regulated brokers because they prohibit long and short trades at the same time. They recommend choosing a broker with high leverage (1:300 or higher) to reduce a margin load of your deposit. For US citizens, the solution is selecting the brokers from Latest List of Offshore Forex Brokers Accepting US Citizens & Reasons Why.

FX Hunter is a subscription-based EA, and currently, they run 20% discount for 3 months & 30% discount for 6 months.   The 3rd party verified results is publicized in myFXbook;FX Hunter EA myfxbook chart

The Real-Time Trading Update is;

 

Wall Street Forex Robot 2.0

The Wall Street Forex Robot has launched over 8 years ago and Wall Street Robot 2.0 Evolution is the latest & the long-standing EA. This version has a Broker Spy System designed to protect traders against dishonest brokers hurting high-negative slippage traders, spreading and slowing order execution.

You now can get 4 different robots for the price of one which may help you with the diversification as well. The 3rd party verified results is publicized in myFXbook;

Wall Street 2.0 myFXbook

The Real-Time Trading Update is;

 

Easy Walker FX

Easy Walker FX is a scalper using three currency pairs with fifteen-minutes (M15) time frame. It trades during the Asian session, they call it a night multi-pair scalper EA. Yes, it’s the night session for us sleeping.

As you know scalping method matters the broker selection and the vendor suggests ICMarkets, Pepperstone, Alpari ECN and FxOpen, we don’t recommend Alpari as mentioned in the PAMM report. You will get 40% Price Off now, socontact us if you decide to purchase. The 3rd party verified results is publicized inmyFXbook;

easy walker fx myfxbook

The Real-Time Trading Update is;

FX Charger

FX Changer claims that the EA adjusts it to the current situation in the market, means the software calculates take profit based on the current situation the market, which is somehow ideal adaptive bot.

They say this technology will not allow you to lose more money than you have specified in the settings of the EA, even if the system crashes.

Because the Stoploss limits drawdowns, your account is safe even if you lose internet connection or MetaTrader 4 terminal turns off. The 3rd party verified results is publicized in myFXbook;fx charger myfxbook

The Real-Time Trading Update is;

 

List of the Most Profitable Forex Signals

Forex Signal service is Semi-Passive Trading because unlike the EA that is autopilot trading, you need to place the order for yourself based on the signals each expert sends you.

People often hesitate to pay the signal service partially because they don’t want to rely on others after long training and partially don’t want to pay for the service, and partially are sceptical about the quality.

However, proven signal services are usually paid off very quickly and you can actually learn from the successful signals, and above all, it’s a very effective method for diversification which can help reduce your portfolio risk.

So, I am sharing a few resources & most reputable professional signal services as follows (All the signals I’m listing here are signals across all time zones, because each signal’s traders or algorithm trade almost all day, thus the signals will be throughout the day. The bottom line is that these signals can be for any traders in the world.);

ForexSignals

If you want to execute professional trading while learning even from the basic, ForexSignals is the best solution. ForexSignals assisted nearly 70,000 Forex traders since 2012.

This signal is a rare service that can hardly be found any negative review but highly rated in every ranking sites including ForexPeaceArmy where it scores 4.544 ratings out of 5 scales. Forex Signals FPA Comments

This signal service provides you with an excellent educational platform. Namely, they offer a Trade Room where you can learn Forex Trading with 3 professional Forex mentors (Andrew Lockwood 30+ years experiences / Mark Bennell 15+ years experiences / Max Norbury 10+ years experiences), including daily live streams, a global chat room, and trade signals.

The service also offers a Trade Academy section including 100+ Forex educational videos and 4 MT4 tools to help with your trading. All the signals from our traders and the community are displayed in the trading room.

The company is registered at Hong Kong (Address: 1301 Bank Of America Tower, 12 Harcourt Road, Central, Hong Kong 1000). Their staff are located in different countries across the globe to cover all the time zones. You are entitled to have 7 Days Free Trial. Besides, Use ‘forex4life’ to get 10% recurring discount.

 

Broker’s Free Signals

There are a few brokers that provide you with free successful signals every day. Some of them are;

Pax Forex

PaxForex is an offshore broker accepting US citizens located in St. Vincent and the Grenadines. Not regulated. ECN/STP broker with Leverage up to 1:500 Spreads EUR/USD 0.4 pips, Min. initial deposit 10 USD. Their send the analysis of Currency / Commodity / Stock to the account holder every day and performed very well with constantly over 15% every month.

PaxForex is running a 100% Deposit Bonus now.

AAFX 

AAFX is also an offshore broker located in St. Vincent and the Grenadines.  Not regulated. ECN/MM broker, Leverage up to 1:2000, Spreads EUR/USD 0.6 pip, Min. initial deposit 100 USD  / trade Forex, Stocks, Indices, Metals, Oil & Gas, Commodities and Cryptocurrencies. Their daily analysis both in writing & video is very informative. 

AAFX’s current bonus offer is 35% Deposit, See the details in MT4 & MT5. 

 

As both of the brokers are Not Regulated, see how you need to be careful in Offshore Forex Brokers Accepting US Citizens & Reasons Why.

 

MQ5

If you have time to search a signal service for yourself MQL5 is one of the most resourceful sites related to MetaTrader 4 or 5. When it comes to the MQL5 Signals market, they permit anyone to supply signals, which gives you a very diverse and unique network of traders. Each trader’s signal performance is evaluated and rated in key assessment parameters such as ROI & the maximum drawdown experienced etc.

Importantly, the MQL5 market verifies all of its providers’ trading results, which gives you good confidence in the numbers. You can filter the traders and copy automatically in real-time using your MetaTrader trading platform.

Majority of traders charge around $20-$50 for a signal fee while MQL5 itself is free to use.

MQ5 Signals Page

 

Services with Warning Sign

Needless to say, there are full of online scams and poor quality services on the Internet. Forex is regulated in many jurisdictions but selling EA is not regulated. Even selling Forex Signal is often not considered investment advice but treated as an educational purpose (logic is that the trader sends a text message/email whenever he enters a trade on his own account so that his subscribers can see & learn how a professional trader’s trades).

Consequently, all EAs & Signals are unlikely to amount to any regulated activity that requires authorization, thus are sold without any license. Means, people can’t assess the quality from the regulatory aspect.

Unfortunately, the temptation and allure of huge profits will always bring new and more sophisticated types of fraudulent activities to this market. Remember, many of EAs claiming very high return are based on Grid trading system or Martingale strategy which could wipe out your account one day.

ROFX

ROFX is highly rated in various Forex review sites. In fact, several members gave us very positive feedback on the consistent return of ROFX, and many members asked for our opinion as well. In the beginning, we had somehow misunderstood our members’ input & ROFX’s service for EA or Signals provider using Robot since ROFX is often found in EA / Signals review sites including the customer review of ROFX, Trustpilot;rofx trustpilot review

It also shows verified myfxbook records since 2018 as;rofx myfxbook

The Real-Time Trading Update is;

However, the site states “Register Managed Account”, and the below introductory video confused us a bit;

Given our doubt of their claimed Managed Account (see how managed account works in our PAMM section), we tried to clarify how they structure their service with their support team. They answered that;

In relation to your request we would like to have you informed that it is more like a Pooled Account. Yes, Customers need to make a request prior to funds withdrawal.
Your start deposit is being locked for a trading period, but you can withdraw your profit at any time. In case you make a withdrawal when your package has expired, bank commission is paid by our company.
 
In the case of non-expired packages profit withdrawals, bank commission is paid by the recipient. RoFx doesn’t charge ANY commission from withdrawals.
Once your package expires you can either withdraw your start deposit and profit or refund a new trading period. We have accumulated the stable and solid Reserve Fund (it is being formed from the performance fee we take for our service), the RF secures your start deposit and covers negative trading days losses.email comment by ROFX support team

So, all your funds are not under your control but under ROFX.

As cautioned in Income Diversification 2nd Concern – Security, Pooled Fund could be a hotbed of HYIP (high-yield investment program) scam driven by Ponzi Scheme. In fact, there are a few signs of it like;

 

  • No company address & registration are publicized
  • Hard to believe the claim of “NEGATIVE RESULTS OF TRADING ARE COVERED BY OUR RESERVE FUND “
  • Flawless constant profits for a long time, since 2009 without supporting evidence
  • rofx profits by year

Surely, only these don’t directly lead to the conclusion that ROFX is a fraudster. And you may say they publish the results in myfxbook. However, there are ways for professional scammers to manipulate myfxbook especially if the verifying broker is complicit.

They use Ester broker which is registered & regulated in BVI & Vanuatu FSC (Financial Services Commission) though, there are very limited review and we can’t encounter any single positive review but find only the poor reviews as below;ester broker review

And in response to our further inquiries of registration details, their answer is;

In relation to your request we would like to have you informed that RoFx is a software company, the owner of AI and Neural networks technology, registered in the United Kingdom. We are the subject to the jurisdiction of the United Kingdom with a headquarters in London, located at Tower 42, 25 Old Broad St., London EC2N 1HN, UK Phone: +44-20-3936-1401 Being a software company, owners of AI technology and a managing company RoFx cooperates with top European, American and Asian brokerage platforms, licensed and regulated by the corresponding authorities. To avoid any fraud from unfair competitors, and for other security reasons, we provide the company details in exceptional circumstances, for more information make a request to security@rofx.netemail comment by ROFX customer support team

Whatever they classify their company business nature, as long as they solicit investment from the public and manage a collective fund, then it is clearly fallen into the activities regulated by the authority. Therefore, we sent another inquiry to ask for the below 3 information to security@rofx.net;

 

  • FRN, that is the registration number assigned by FCA (Financial Conduct Authority)
  • FSCS (Financial Services Compensation Scheme) coverage if ROFX becomes insolvency
  • Company House Registered Number since we can’t locate any info under ROFX

So far, no answer has been sent back to us.

Although we can’t conclude they are a scam but suggest you stay away from them, it is a typical case of “Better Safe Than Sorry”.

Excluded Signals

We didn’t include the following 2 signal services despite their excellent reputation;

Zero to Hero Forex Signals

Zero to Hero Forex Signals  which gained High Rating of 4.59 out of 5 scales at ForexPeaceArmy;zero to hero forex signals forexpeacearmy rating

But no active records – stopped in Jun 2018 and now deleted at myfxbook.

 

1000pip Builder

1000pip Builder also gained High Rating of 4.613 out of 5 scales at ForexPeaceArmy;1000 pip builder fxpeacearmy rating

But no active records – stopped in May 2018 at myfxbook;

We asked for the clarification of why the publication was suspended to both of them. Then Bert from Zero to Hero Forex Signals & Bob from 1000pip builder gave us the exact same answer as;

We do not have more recent data on our MyFXBook account because I changed broker a few times. Overall our trading has gone well, there were some weeks that were a bit rough as there has been a lot of political news pushing the price around. However, things seem to be back to normal now and the signals have been very reliable. I have attached some recent results to this emailemail comment by Bert & Bob

And the attachments Bert & Bob sent us are completely identical;

Zero to Hero Forex Signals & 1000pip builder trading results
1000 pip builder trading results 1 1000 pip builder trading results 2 1000 pip builder trading results 3

Well, whether Bert & Bob are the same person or working in the same organization doesn’t bother us any. What concerns us is the lack of consistency of their performances as they themselves admitted.

With this reason, we didn’t include them in our mainstream list. However, they are at least very responsive in an honest manner and shared some evidence of the trading, and given the continuous good feedback from their users, you may want to consider & try them as options if you like.

Suggested Actions

So, in the first place, never ever be dazzled by blatant false promises of huge profits without verified trading results.

Let me share an interesting example of Alpha Scalper;alpha scalper

The site is filled by a full of redundant sales pitch added by the permanent huge price discount & a long video that keeps talking the same fancy phrases using different words, but No Verified 3rd Party Results. So, to us, there is no substance at all. Therefore we don’t include it in our list despite the fact that there are many review sites producing positive assessments on it.

We have our own parameters for selection as being explained later – basically, we take a relatively conservative approach by thinking much of stability.

Anyhow, even our parameter suits you, please don’t count on our selection as well as the verified past / current performance because none of these assures you the same future results.

So, once you decide to purchase, never put the Forex EA on a live real money Forex account until it has been tested thoroughly in a demo account. And claim a refund if the result is not satisfactory – basically all the Forex EAs we select provide Refund Guarantee period (1 – 2 months depending on the vendor).

You may want to test Alpha Scalper if you like since it provides you with 30 Days Money Back Guarantee.

Besides, we have never encountered and heard Free Forex EA that works. Don’t believe in any  World Best Forex EA Free Download. Downloading free Forex software could be risky because it could contain a malicious virus. Free Forex autopilot may blow up your account overnight. Don’t forget Nothing is as costly as a free gift.

Best Forex EAs & Signals – Why Do We Need & How Do We Select?

You Need Powerful Forex Trading Weapons

As clearly explained in the Successful Forex Trading Model with Powerful Weapons, high-quality Forex EAs & Forex Signals will enable you to develop a diversified Forex Trading Portfolio which can minimize risks.

In other words, Forex EA & Forex Signal will help you achieve your most optimized Forex Trading – balancing out the risk/reward.

With various reasons, it’s difficult for less skilful retail traders to beat professional & institutional traders in Zero Sum Forex trading. Consequently, the retail traders usually have to go through a lengthy unprofitable period with painful learning curve until seeing reasonable profits.

However, the solid growth model equipped with reliable Forex Signals and AutoPilot Trading (robots) will shorten such gloomy time significantly, as the below image describes. Forex Successful Trading Model Curve

Forex Autopilot Trading Software Is Proven To Work

As I quoted in my guide Forex Robot For Dummies – 5 Essential Things You Should Know First, over 80% of financial trading markets including the majority of investment banks and large hedge funds are done by robots.

And 90% of SUCCESSFUL forex trader is said to use a trading robot in some way. The other source (Quora) explains that Algorithmic Trading had substantial Algorithmic Trading Market Prediction by billionsgrowth experiences, accounted roughly a $1 Trillion Market in 2018 and is growing at 10.3% CAGR 2016-2020.

So, in financial trading including Forex Trading, robot trading is proven to be a successful method.

Therefore, not using Forex EAs would be your disadvantage in competitive Zero-Sum Forex market.

Profitable Forex EAs Strategy

Using Forex EAs is one of the best methods to diversify your trading portfolio. Means, you don’t need to rely on a single EA but use multiple EAs with possibly different trading strategies, which can help minimize your overall risk.

From this perspective, you may want to use the EA with even 30%+ maximum drawdown together with the EA with less than 10% DD, which could result in less than 20% DD portfolio.

Besides, Forex EAs are basically not designed to (in fact almost impossible to) program rapid market change affected by big economic news, political or weather issues etc. Such inconsistency of the market is the biggest cause of the EAs’ inconsistent result.

We select the EAs that have survived for a reasonably long period, means they equip the good risk management setting to avoid big upset caused by those surprise news.

However, it’s better for you to monitor especially during the volatile period rather than relying completely on the automated decisions, which can definitely improve your profitability.

The most successful forex trader including institutional traders develop EA portfolio, monitor carefully and do optimize it constantly.

Forex EA Knowledge

We have issued the below 3 Forex Robot related strategic papers;

Key Parameters To Select Forex EAs

We set the following parameters to select the EAs;

 

  • Survival Length Over 2 Years (2 years is the period that goes through a series of up & down market conditions although a full economic cycle may need 5-6 years, means the EA can cope with normal market change with major news)
  • The 3rd party verification on the trading results such as Myfxbook & FX Blue is available (we don’t trust any direct trading statements on their own site because they can be manipulative)
  • Low Risk – Drawdown rate is less than 20%+
  • Annual growth is over 20%
  • Price: Less than $500 (majority falls into $100 – $300 range, remember the higher price does not necessarily correspond to the better quality)
  • Refund Guarantee (usually 30 days period)

For EA selection, we place a high priority on the 3rd Party Verification. Therefore, we simply don’t list high exposure EA like Odin Forex Robot which you see everywhere when you google best EAs etc. but no verified results. We also don’t list the ones with high rating & verified 3rd party results but No Active Ongoing Proof, like 1000pipClimberSystem that have;

High Rating of 4.53 out of 5 scales at ForexPeaceArmy;1000 pip climer system forex peace army rating

But no active on-going records – stopped in Jan 2018 at myfxbook;

Anyhow, if you are the trader and shopping around the EA in various ranking sites based on the similar parameters to the above, we already saved your time.

However, as said previously, don’t use your real money straight away but test it in a demo account to see how it goes during the Refund Guarantee Period.

Key Parameters To Identify Best Signals

We basically set more or less the same parameters to assess the signal providers as what we set for EAs. However, probably because of the industrial norm, the number of signal providers publishing the trading results being verified by the 3rd party is quite limited compared with the EA vendors.

Therefore, the list includes the provider that doesn’t publish the verified results but gains enough credentials to prove the quality.

However, we exclude the ones that stopped publishing results (because we can’t rely on the traders with such inconsistency) – see the specific examples in the above “Excluded Signals”.

 

Forex Most Profitable EAs & Signals – Conclusions

Summary of Strategies, Caution & Suggested Action Plans

Let me summarize the Strategies, Caution & Suggested Action Plans related to Forex EAs & Signals List as follows;

Strategy To Achieve Forex Profitable Trading

  • Diversification is the essence to achieve your profitable Forex trading. Diversified Forex trading portfolio will optimize your risk & reward and bring about sustainable extra income.
  • Forex EAs can be the easiest & quickest way to be added in your Forex trading portfolio, which will help you make a proper trading decision without emotion.
  • Forex signals can also help you diversify your portfolio, besides you can learn a lot from how the successful traders’ trade, so that Forex signals can be a good weapon for newbies who want to make real profitable Forex trading during the learning stage.

Forex EAs & Signal services Caution

  • Beware the fact that there are a full of online scams and poor quality services.
  • EAs without 3rd party verified trading results are likely to be not trustworthy.
  • EA’s huge profits result is often driven by Grid trading system or Martingale strategy which could wipe out your account overnight.
  • Various Forex EA rating sites include pooled fund review as well. Remember the pooled fund is a breeding ground for fraud especially Ponzi scheme.
  • Don’t forget there is no Forex EA that works, there’s no such thing as a free lunch.

Forex EAs & Signal Services Suggested Actions

  • Firstly, never ever be dazzled by fancy sales pitch claiming huge profits.
  • For Forex EA, try to ignore any vendors that don’t share 3rd party verified trading results.
  • Even with the 3rd party verification results, don’t take if the results cover only a short time, say less than 6 months.
  • Also, forget about the EAs that don’t offer Refund Guarantee.
  • Check carefully how the rating sites review, if it’s a Pooled Fund, make sure you do Due Diligence before placing any money and keep away if you can’t receive a satisfactory response.
  • Once you decide to purchase EA, never put the Forex EA on a live real money account until it has been tested thoroughly in a demo account. And claim a refund if the result is not satisfactory.
  • For Forex Signal, you may want to start the shortest available subscription, usually monthly (if there is any free trial period, make the best use of it) rather than committing the long subscription-like annual package before you have confidence on the signal service.
  • Don’t risk your PC by downloading free forex robot that may contain a virus, don’t blow up your account by placing free Forex autopilot in your live account.

Good Luck on your Profitable Forex Trading!!

Joshua Walker (bio)

Editor – Global Extra Money (GEM)

 

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