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The Best Forex Trading Robot in South Africa

A forex trading robot is essentially a computer program that uses a set of trading signals to determine if buying or selling a pair would likely be profitable. They are built with the idea of removing and human and therefore psychological part of trading as this is often detrimental to the trader. It is possible to buy such trading robots online but caution should be taken if you do decide to buy them like this.

 

The Best Forex Trading Robots in SA

Deriv logo

Deriv

4.5
Demo account Yes
Minimum deposit $50
Minimum Deposit: $50
Deriv is an offshore broker offering both binary options and standard forex and CFD trading
Binomo logo

Binomo

4.9
Demo account Yes
Minimum deposit $10
Minimum Deposit: $10
Operational since 2014, Binomo may be a CROFR regulated binary broker which offers service packages for all kinds of monetary traders.
Exness

Exness

5
Demo account Yes
Minimum deposit $ 150
Minimum deposit: $ 150
Exness is FSCA & FCA regulated, which are 2 Top Tier regulators, so we consider them to be safe.
Quotex logo

Quotex

4.5
Demo account Yes
Minimum deposit $10
Minimum Deposit: $10
Quotex is a new digital options broker, innovated in 2020. The platform offers dupe trading and request signals.
olymp trade logo

Olymp Trade

4.6
Demo account Yes
Minimum deposit $30
Minimum Deposit: $30
Olymp Trade offers its customers a full range of monetary services within an equivalent account.
FXCC logo

FXCC

4.9
Demo account Yes
Minimum deposit $250
Minimum Deposit: $250
Forex Trading with FXCC, a leading regulated and Award winning ECN Forex broker - Start Trading today with our risk-Free Demo account
markets.com logo

Markets

4.8
Demo account Yes
Minimum deposit $250
Minimum Deposit: $250
Markets.com was established in the year 2010, being the best Forex trading company in South Africa the company grew tremendously.
BlackBull Markets logo

BlackBull Markets

4.5
Demo account Yes
Minimum deposit $250
Minimum Deposit: $250
BlackBull Markets was founded with the goal of becoming the leading online Financial Technology and Foreign Exchange broker.
Hycm Logo

Hycm

4.6
Demo account Yes
Minimum deposit $100
Minimum deposit: $100
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading CFDs with this provider
plus500

plus500

4.2
Demo account Yes
Minimum deposit $250
Minimum Deposit: $250
Plus500 is a popular CFD trading platform, that is also listed on London Stock Exchange. They are regulated with top-tier regulators including FCA (UK), ASIC (Australia) & CySEC.
markets logo

coinsraw.com

4.5
Demo account Yes
Minimum deposit $50
Minimum Deposit: $50
Between 74-89% of retail investor accounts lose money when trading CFDs with this broker.
Avatrade logo

Avatrade

4.5
Demo account Yes
Minimum deposit $150
Minimum Deposit: $150
Ava Trade, established in 2006 and originally referred to as AvaFX, may be a pioneer within the online trading industry.
IQ Option logo

IQ Option

4.6
Demo account Yes
Minimum deposit $150
Minimum Deposit: $150
IQ Option was first introduced to the binary options traders across the world back in 2013.
Vantage fx logo

Vantage Fx

4.9
Demo account Yes
Minimum deposit $200
Minimum Deposit: $200
Vantage Global Prime Pty Ltd, broker Vantage FX became available for binary options trading in 2009.
Easy Markets logo

Easy Markets

4.8
Demo account Yes
Minimum deposit $150
Minimum Deposit: $150
Easy Markets is an award-winning forex and CFDs trading platform launched in 2001 as the world’s first web-based trading platform.

How might a robot help you trade?

Forex trading robots south africa

Forex trading robots can use automated trading, meaning that they can operate 24/7 unlike their human counterparts. Getting the right system going does take quite a lot of research, however. Putting your feet up and letting a robot trade for you sounds tempting doesn’t it?  However, to maximise profits, robot users must find a good pair of currencies as well as the right time frame for trading. Some robots can scan multiple charts at once, which is physically impossible for humans!  Furthermore, they can determine themselves when it’s best to trade or to hold back.

automated forex online

Are all forex trading robots the same?

Most trading robots are set up with MetaTrader, using MQL scripting language. This allows traders to create trading signals as well as manage trades and place orders. Buyers should be aware that sometimes companies set up quickly and often have money back guarantees on offer to entice new customers. Often times, these companies disappear a few weeks later – taking your money with them! They are not trustworthy systems to assess opportunity and risk.

There isn’t a perfect trading robot system. If there was, people wouldn’t want to share it with others! They’d want to reap their gains themselves without letting others in on their secret.

automating forex online

What if you want to go it alone?

It is possible to develop a Forex trading robot yourself. This would benefit someone who didn’t want the risk of a third-party trading robot. To get going with it, you would need to create a demo account making sure that the broker you choose supports MetaTrader. You can then start to develop MQL scripts and start experimenting.

Once your system performs well with a demo account, you can then apply it to paper forex brokers south Africa  in order to test how well it works when ‘live’. If your program is successful it can be built up using increasing amounts of actual capital. If it’s not successful, you can then tweak the program while still working with small amounts of capital.forex trading south africa and more