In this post I will be reviewing the Forex Device forex robot for the free to download MetaTrader 4 trading platform. Forex Device is a fully automated forex trading system suitable for both novice and advanced forex traders. You simply follow the Forex Device provided instruction manual to setup the forex robot on your forex trading account and it can place and manage the trades for you. As always, trade with a lot or risk size that you feel happy with as trading does carry a significant element of risk.
In order to use this forex robot, you will need a trading account with a forex broker. With so many brokers to choose from, I have conveniently compiled a list of my best forex brokers to help you quickly and easily choose a broker that meets your needs.
Forex Device Trading Strategy
Forex Device trades multiple currency pairs. The major currency pairs such as the EURUSD and GBPUSD tend to have a lot of liquidity due to the amount of traders trading these pairs which sometimes means lower spreads and less slippage. To be sure of this, I would be using a regulated ECN forex broker.
Forex Device trades the market 5 days a week fully automated but make sure you keep an eye on its trade performance to ensure everything is working as it should and under control. We don’t want a forex robot going rogue! Forex Device can adapt to various market conditions.
Forex Device Back Testing
There are no back tests on the Forex Device official website.
Forex Device Live Results
Forex Device Summary
Overall, this forex robot can analyse currency pairs and place trades for you but it does have some limitations. I have conducted many forex robot reviews and there are other alternative automated trading options that I would consider over this EA. It does come with instructions, support and a money back guarantee. It should be noted that there are no guarantees on how any system will perform and historical results are by no means an indication of future performance.