Getting ahead in the forex market has always been a tall order for beginners. In the first place, the sheer knowledge required is daunting and, even though you might know that the forex market is truly a pot of gold waiting to be tapped into, you probably also know that you don’t have the know-how to take advantage of it!
Anyway, today is your lucky day because we’re going to be looking at three of the top Forex robots in the market, and you’re about to discover just how you could put them to work for you without needing any prior knowledge or experience at all. Go over these reviews, and see for yourself the tremendous opportunity that is right at your doorstep!
FAP Turbo
First impressions are often very important, and the FAP Turbo seems to gleam with all the right signs from the very beginning. Its download page is methodical, and will guide you step by step through what you need to do, while accompanied by instructional videos every step of the way!
Further exploration of the member’s area also reveals a lot more videos that deal with practically everything that you could possibly wish for, and a very comprehensive Frequently Asked Questions section.
To put it all quite simply: You’re certainly not going to be left wanting in terms of help and information.
Once the FAP Turbo itself is installed, you should be able to get it running in no time at all. By just following the aforementioned video guides, you’ll find that everything falls into place fairly easily.
Along the way, you’ll be able to choose between the two main trading strategies of the FAP Turbo, namely the Long-Term Strategy or the Scalper Strategy. If you’re familiar with forex, you’ll recognize the Scalper strategy as an excellent aggressive way to make short term profits, and it is one of the areas in which the FAP Turbo appears to excel.
In essence, the FAP Turbo is a truly comprehensive package that will allow you to profit from either short or long term trading strategies.
Time for the bad news though…
Disappointingly enough, the FAP Turbo simply does not compare well against the 4 specialized robots of the IvyBot, especially when you take into account the fact that both products are priced similarly at $149. So while it does allow you to trade any currency pairing that you desire, it doesn’t do so as effectively as the IvyBot.
Also, the FAP Turbo is locked into a single account to prevent piracy. If you are a fairly average user this isn’t too big a deal, seeing as you’re probably never going to need more than one account. And, if you do, there’s always an option to purchase additional account access codes.
Wrapping up the downsides of the FAP Turbo is the fact that brokers can spot people who are using it and may end up closing their accounts. To combat this, the FAP Turbo recommends certain brokers whom they have established relationships with, but if you are adamant on using some other broker, you could run into trouble.
End of the day, the FAP Turbo is a pretty attractive package. Truly accessible and with heaps of support to help ease even the newest of beginners into the forex market, it does stand out in its own right.
Anyone who appreciates having detailed explanations about what they should be doing will definitely appreciate the FAP Turbo.
IvyBot
Currently, this forex robot is by far the sleekest and most advanced looking piece of code on the marketplace, and it certainly does know how to get off on the right foot.
Downloading, installing, and setting up the IvyBot proves to be a piece of cake, partly due to the simplicity of the system itself and partly due to the fact that there are videos readily available to guide you along every step of the way.
Even the bonuses, which are made up of various indicators and scripts, have their own installation video.
Once IvyBot is cranked up, its main advantage becomes readily apparent: In stark contrast to other forex robots, IvyBot is made up of not one, but four robots! Basically, there is a different and unique robot for each currency pairing, including EUR/JPY, EUR/USD, USD/CHF, and USD/JPY.
By tailoring an individual robot to each of these currency markets, IvyBot represents the first robot to actually be able to specialize in multiple currencies. Also, any market changes are updated onto the robot automatically, which means that it is never going to become obsolete!
Another huge plus in IvyBot’s favor is its almost complete automation and ease of usage. While you can definitely customize and tweak some of the settings, it really is all very beginner-friendly and it wouldn’t be too much of a stretch imagining someone totally new to forex being able to sit down and start trading very quickly.
More advanced users will also undoubtedly enjoy the fact that you can tweak IvyBot’s settings to allow for scalping and more aggressive trading.
Despite the rose-tinted outlook of IvyBot, it admittedly does have some disadvantages.
Many experienced traders have pointed out the fact that the ability to trade in more currencies is not exactly something that is all good, seeing as it can expose traders to further risk than what they might want to take on.
And although it does allow some flexibility for advanced users, it still can limit the scope of what you might wish to do. Beginners will hardly feel this though, as there really is very little reason to depart from the proven default strategies that IvyBot employs.
At the time of this review, the IvyBot package is being sold for the remarkably low price of $149.95 – but that is only for the duration of the special launch offer. In time, it will be hiked back up to its retail $450, which can be a bit of a bite.
Fortunately, you could make back that investment in a single day, especially if you decide that you wish to own what appears to be the single most effective robot to date.
Forex Megadroid
While it lacks the obvious pomp and gala that some other pieces of forex software tend to have, the Forex Megadroid does appear to have what it takes to stand out from the crowd of other, more anonymous, pieces of software.
From the get go, it is important to understand that unlike some other packages that you might have encountered, the Forex Megadroid delivers what was promised – full stop. There are no ‘extras’, or ‘bonuses’, or ‘hidden surprises’.
Instead, what the Forex Megadroid has to offer is a stable, profitable robot that claims to work in every type of market condition. Although you might think that this all sounds fairly bare-bones, the fact of the matter is that it is quite refreshing to have a forex robot that actually concentrates on being just that – a forex robot.
Getting things started is fairly easy, and while the marketing claim is that you can get the Forex Megadroid up and running in under 5 minutes, it could take you a little longer than that if you’re unfamiliar with Meta Trader 4 (which you’ll need to use this robot).
Once installed, a few simple configurations need to be set and you should be all done. One of these is the all important trading strategy setting, where you get to pick between an Offensive or Conservative style of trading.
Worth taking special note of is the Recovery feature of the Forex Megadroid which will allow you to activate a special strategy to recuperate a certain loss!
However, by far the most attractive feature of all is the price tag. Compared to the other two products that we’ve looked at, the Forex Megadroid is by far the cheapest option, available now for a single one-time payment of $97.
All in all, this means that you could get your hands on a cheap and yet effective robot that is easy enough for even a beginner to get started with.
Now it is time for the bad news.
When we mentioned that there are no ‘extras’, ‘bonuses’, or ‘hidden surprises’, that also meant that the documentation consists of a single eBook that details everything from installation to operation. While it is really a very well written guide that is easy to follow, having a couple of videos too would definitely have been a plus.
Also, the Forex Megadroid is limited to trading in the EUR/USD pair. For beginners, this probably won’t be an issue, but some slightly more advanced traders may balk at being limited to a single pairing of currency.
Both these downsides aren’t exactly total killjoys, but they are enough to put a damper on things slightly. Still, if you want something easy to use that devotes itself to simply making you money on the forex market, the Forex Megadroid remains a very good deal and is, for the time being, pretty much the only robot that is undetectable by brokers!