These days, when anyone can trade Forex without personal involvement, the probability of making wrong trading decisions based on fear or greed (or other emotions) is reduced to nothing. If a trading robot does happen to make a gross error this is the programmer’s fault. So, if you are going to proceed to automatic trading, make sure that you have a decent trading robot (without programming errors).
Another major factor is choosing a suitable broking company for automated trading. It is not a secret that some brokers do not allow trading robots to trade. Others may offer poor-quality services, which still can result in unprofitable trading, no matter how good your trading system is.
What are the advantages of automated trading? How to choose a reliable broker for automated trading?
Advantages
According to Eugene Olkhovsky, ’s leading expert in financial markets from Canada, the advantages of automated trading are quite obvious:
First of all, you don’t need to do all the routine job, you just tune the robot so as it could follow simple (or complicated) instructions based on you trading system.
Secondly, a trading robot (or expert advisor) is not subject to emotions like fear, greed, despair etc. Therefore, it cannot make mistakes and deviate from the trading strategy.
Thirdly, a trading robot needs no rest. It can trade 24/7.
Now we know that automated trading is a good option for those how value their time and want to “outsource” their trading jobs.
Choosing a Broker
Now we need to define whom we can trust. I mean we need to choose a reliable Forex broker for automated trading. Luckily, there are plenty of them. However sometimes, it is difficult to make the right choice.
That is why, decided to introduce its own unbiased rating of Forex brokers for automated trading. It is based on over 20 transparent and objective criteria, which make it really unbiased.
The chart below, courtesy of , represents the current rating of automated brokers:
These are the broking companies that can really be trusted once you have decided to start automated trading.
As you can see, RoboForex has recently become the leader of the rating. This is not accidental because the company has improved its services a lot, simultaneously offering truly amazing conditions for those who are fond of automated trading. This is a place to be for all automated traders (even the name confirms that). By the way, RoboForex is a proud sponsor of the Automated Trading Championship 2012, the main event for everyone who owns a profitable trading robot.
One of the major benefits is the right to host your trading robot on the company’s remote VPS servers so that it could trade faster and 24/7, even when your PC is off.
The rating can change till the end of the year, which depends on the open voting. So, you can cast your vote as well on ’s rating of Forex brokers page.
