Best MT4 Forex EAs And Forex Robots From 2020 & 2021

 

Best Forex EA

Top Performing Forex EA

 

This performance table is a list of some of the best forex eas (otherwise known as forex expert advisors or forex robots) on the market. It compares their performance over a month to month and year to year basis so you can see which robots are performing well recently and which aren’t. This should give you a great indication of which forex robots to avoid, and which ones to consider. A top forex EA is not only based on how much money it can make, but consistency, history, and support. What good is an EA if you can’t get any support for it and the vendor only has a couple weeks worth of history?

There is no best forex ea, just ones that are better than others at certain things. One of the better and consistent performing forex robots on this list is Forex Flex EA. Its oldest account is over 2 years old and has turned $3000 into over $350,000 in that time. Read our review of it to find out more.

Please go over all the data and decide for yourself what the best forex trading robots are. Most of the top forex eas listed here actually work, but be sure to read the reviews and comments on any that you may consider buying!

 

Best Forex EA Comparison

NameWarningGainMonthlyDailyDaysDrawdownTrades Per DayProfit FactorRatingChart
Flex EA SRV SettingsReview+227%17.40%0.09%133219.13%0.00 2.05
Flex EA HalfGrid+789%15.44%0.48%148213.42%0.63 2.46
TSFX EA
Martingale with no SL riskier than the results make it look
+1613%10.85%0.34%251870.53%4.071.84
Flex EA - EMA Far Apart v3+541%10.57%0.30%221698.43%0.29 4.36
Flex EA Halfgrid+359%10.30%0.07%217826.08%0.22 2.27
Flex EA SRV1/SRV2/SRV3+194%7.16%0.05%20907.29%0.42 2.48
Forex Steam+23%7.14%0.01%197457.73%0.27 1.06
Forex Growth Bot
Over 94% drawdown, can blow your entire account!
+2%5.97%0.07%483894.46%0.00 1.10
Flex EA Custom TDI Slope+2%5.42%0.13%248491.71%0.00 1.07
Flex EA Default Acct4+15%4.09%0.13%273236.89%0.00 1.46
Forex Fury
Demo account
+34%3.31%0.01%209427.68%0.21 14.01
WallStreet Forex Robot
Scalper, need a VERY good broker to be profitable
+121%2.81%0.09%227926.91%0.981.11
FAP Turbo 2
Scalper no longer profitable
+51%0.44%0.01%368621.88%0.21 0.89
Odin Forex Robot (FRT)
Not profitable, vendor shows fake backtest results
--51%-13.15%-0.09%154710.29%0.83 0.75
FX Stabilizer
Martingale with no SL
--79%-20.71%-0.28%233388.47%0.030.54
FX Charger
Martingale using a 4x multiplier, very risky!
--98%-23.38%-0.28%272299.81%0.190.83
Flex EA Candlestick Pin Patterns--99%-30.55%-1.20%213699.99%0.10 0.44
Benefit EA
Martingale with no SL
--97%-39.23%-0.14%259489.33%0.00 3.69
FX Diamond EA--99%-84.50%-0.16%310599.39%0.09 0.42

 

Best Forex EA Comparison Table Headers Explained

Name: The name of the forex ea
Warning: Mouseover the red warning indicator beside an mt4 ea name and it will show you the warning associated with that ea. It usually ranges from dangerous martingale, to scalpers on a demo account, to blown accounts that haven’t been updated to reflect that. Generally best to avoid any EA with a red flag warning.
Gain: The percentage of profit that has been made on top of the original deposit
Monthly %: How much on average the ea is generating per month
Daily %: How much profit it makes on average each day
Days: The total number of days the trading account has been active for.
Drawdown: The highest drawdown the forex ea has ever had at any given time during the accounts lifetime. Generally anything under 20% with a large overall gain is very good, under 40% is manageable but is getting risky, over 50% is basically risking the entire account blowing.
Trades Per Day: Average number of trades per day it has opened over the course of the account history.
Profit Factor: How profitable this expert advisor is. The higher the number, the more profit it can make in a short amount of time
Profit Factor: The rating that mt4 ea has achieved based on user ratings.
Balance: The current total balance in $ of the account
Pips: The total number of pips this forex ea as accrued
Age: How many days the account has run since the initial deposit
Deposit: How much money was originally deposited
Equity Curve: A curve showing the expert advisors account balance growth over its lifetime. This is clickable and will bring you to the accounts myfxbook page

Other common keywords: Scalper/Scalping = A forex scalping robot is one that tries to get in and out of the market as quickly as possible with very small profits. The most common scalping ea’s you see today looking to scalp 2-5 pips of profit, but then have a 20 to 50 and sometimes even 100+ pip stop loss. They become very deceiving where you go on long winning streaks and then one day one loss comes a long and wipes away all your real profit. This is not a sustainable forex trading approach. You must also be careful with vendors that show scalping robots with performance on a demo account, they perform 100x better on demo than they do on live accounts. This is because real money accounts have higher variable spreads, swaps, commissions, off quotes, liquidity issues and many many more variables that can eat into those small profits.
Live account = A live forex account is referred to as a real money trading account where you earn real profit.
Demo account = A demo account is referred to as a play money account (fake money). Market conditions are always much more favorable on demo accounts than real accounts.
Expert Advisor (EA) and a forex robot are the same thing, just different describing names.

The data of each forex expert advisor is updated every 5 minutes, every trading day. All the data is aggregated straight from myfxbook and therefore cannot be changed or manipulated in anyway.

If there is an fx robot you think should be added to this table, please leave a comment below requesting the robot you wish to see added. As always, feel free to comment.

Requirements: In order to use any of these forex trading robots, you will need an account at a forex broker that supports the Metatrader 4 platform. Check our list of the top MT4 brokers ranked from best to worst based on user ratings. Another thing to consider which is not a requirement but will definitely make your life easier is using a forex vps.

To Summarize…

There are what seems like an endless number of forex eas on the market and it can be hard to sift through all the garbage as there is a lot of it. If you’ve decided on a forex ea that you want, make sure it has more than 1 real money myfxbook trading account with more than 1 year of history. Also check reviews on various sites, not just here. Also if it is a scalper (average profit is less than 10 pips) be vary careful as these can be hard to keep profitable long term and require very specific broker requirements.