Table of content

Forex Robot Trading: Top 5 FAQs Answered!

Have you heard about Forex robot trading? Can it make trades on your behalf? Are they legal? Can forex robots make you rich? These are some of the frequently asked questions (FAQs) about forex robot trading. Let me walk you through the answers to some of these questions so that you can make the right decision about using them. 

What Is a Forex Trading Robot?

A trading bot or robot is nothing but algorithmic trading, which is based on a wide array of signals of the forex, crypto, or stock markets. The pre-defined conditions written in these programs or software help these trading robots to make decisions of buying or selling currency pairs (say, EUR/USD) at a certain point in time. Forex trading robots can either be fully automated or semi-automated. 

The forex robots are created in such a way that does away with the emotional element of trading and makes the trading decisions solely based on trading strategies (by considering both technical and fundamental factors). 

What are the Different Types of Trading Robots?

There are basically two kinds of crypto and forex trading robots and they are:

  1. Automatic

They make all the decisions of cryptocurrency trading and forex trading on your behalf. You simply have to open them, select strategies (say, forex scalping or trading news based strategies), and let them trade on autopilot. The trades (buying and selling) will be executed on the basis of the pre-defined conditions or parameters set through the chosen strategies. 

  1. Semi-Automatic

The semi-automatic forex and crypto robots make the quantitative on the basis of the strategies selected. However, they don’t execute buy or sell orders on your behalf. The final trading decisions are taken by you, the trader using the algorithmic trading bot. 

How do Forex Robots Work?

Forex or cryptocurrency robot trading is an automated algorithmic trading practice that helps you earn passive income even when you are sleeping. When these forex robots are placed on autopilot mode after choosing strategies or copy trading strategies of successful traders, they make trading decisions and executions automatically on the basis of pre-determined forex signals or crypto signals. 

Let me give you a simple example to help you understand how these automated forex trading systems work. Suppose, you are trading EUR/USD currency pair. Now, you provide 2 pre-conditions:

  1. Buy EUR/USD when golden cross bullish trading pattern takes place. It happens when 50 daily moving average (DMA) moves above 200 DMA. 
  1. Sell EUR/USD when death cross bearish trading pattern takes place. It happens when 50 daily moving average (DMA) moves below 200 DMA. 

This simplistic algorithm has two basic instructions. If they are coded successfully in the forex trading software and put on autopilot then it can make trades on your behalf, even when you’re sleeping, or doing other works. 

What are the Pros and Cons of Trading Robots?

Pros

  1. Forex trading robots can make trades round the clock 24/7, which is impossible for a human trader. This increases the chance of making more profit and provides passive income to you even when you are sleeping or doing other works. 
  1. When on autopilot, the algorithmic trading bots can make faster and instantaneous trades, thereby increasing your chance to make more profit. 

Cons

  1. Not all forex robots make profitable trades as per their claim and advertisement. So, make choices of the trading bots for the FX market after researching thoroughly. 

Which are the Best Crypto and Forex Robots for Automated Trading?

The top forex robots and automated crypto bots and are:

  1. NapBots.com
  2. EA Builder
  3. Coinrule
  4. X Trend Premium
  5. GPS Forex Robot
  6. TradeMiner
  7. FX-Agency Advisor
  8. 1000pip Climber System
  9. Wallstreet Forex Robot
  10. Forex Trendy
  11. Forex Gump
  12. Forex Diamond
  13. Centobot
  14. FX Pattern Pro
  15. Auto ARB


It is very important to choose the right trading platform, forex broker, trading bot, and crypto trading strategy. If you’re still not sure about investing through crypto and forex robots, you may take help from expert advisors, experienced traders, or use a live account to get a taste of it. If chosen correctly, trading automatically can make you lots of money. Automated forex trades are becoming a fad, especially in the case of day trading platforms. 

No matter which crypto and forex trading robot software you choose, always select the trading style and strategies (such as scalping strategy) correctly on the basis of prevailing market conditions and price action. When choosing a set of strategies, technical analysis plays an important role in deciphering trading signals. After choosing a suitable brokerage account, trading app, and a quantitative trading robot, a forex trader must keep a close watch of the bot even after putting them on autopilot. 

Choose NapBots to Increase ROI

Trading Robots (such as NapBots.com) automatically scans the market in real-time and trades for you. They run 24/7, which means that you can keep earning your passive income even when you are sleeping. This gives you an edge over other investors as it enables the bot to book profits on your behalf when other investors are sleeping.

Smart crypto investors always remain prepared to get the best of a big market move. They don’t wake up suddenly. To remain alert round the clock, they use cryptocurrency trading bots so that they don’t miss any big market movement.

NapBots.com is a Trading Bot, cloud-based platform, on which you can connect to major exchanges such as Binance, Bitmex, Bitfinex, OKEX, Kraken, Bitstamp, and Bitpanda. 

The best thing about the Napbots trading software is that you don’t have to monitor charts and candles to predict your next move. Any novice trader with zero skills can also start trading like a pro and earn money with this unique trading tool. Let Napbots take full control over your trades in just a few clicks. Now, sit back and enjoy earning money. 

You may also check “Napbots Review - Simple Way To Increase Your Crypto Returns” before taking the plunge.

What’s so special about NapBots?

NapBots crypto trading software is special because it comes with:

  1. A unique trading algorithm that processes market data for you 
  2. A unique crypto trading bot library so that you can create your own mix of trading strategies
  3. Autopilot mode that enables you to automate trading 24x7
  4. An easy-to-use interface so that you can copy the proven strategies of NapBots to make successful trades and make money

How to Get Started with NapBots?

NapBots is easy to start with. It involves just 3 steps:

Step #1: Connect to one of the available trust exchanges.

Step #2: Select from the unique list of performing Bots of NapBots

Step #3: Choose a plan that suits your investment style

Once you have completed these three steps, NapBots is ready to trade cryptos and earn money for you. Happy Trading!

Why Choose NapBots?

  • NapBots offers complete trading automation solutions through the use of its own tested trading strategies; offering quantitative trading strategies previously reserved for hedge funds to the public. 
  • The setup and installation process are easy. So, the non-experts can also use it. The simple and special approach of NapBots helps it provide you with excellent ROI. 
  • The team of professionals behind NapBots has extensive experience in the financial market. They have put their years of experience in place so that you can easily automate the management of your funds with no technical skills. This service can run 24/7 and work as your passive source of revenue even when you sleep.