Free Forex Advisors for Small DepositsMonday, 17 July 2017 04:00
Not all the participants of the Forex market have enough funds to afford major risks. However, due to the constant development of the automated trading systems, even a novice trader with a small deposit can start earning money on currency quotes. The main thing is to choose the right advisor.
Principles of Auto Trading on Small Deposits
There are different trading strategies, as well as different approaches to a financial management. If the amount of funds is small, then a correct money management can play a key role for the trader. The Martingale method is one of the tactics designed for such accounts.
It’s worth noting that this strategy is very controversial, and always serves as a subject of discussions. This is one of the most risky types of trading, and many traders, wishing to earn money on Forex quickly, lost all their money due to the unsuccessful application of such an approach. However, there are a lot of newcomers who want to increase their account two or three times in a short time, and only Martingale can help them.
Many traders also choose the principle of scalping. This is one of the most common trading tactics. You don’t need to have a massive amount of funds and the level of risk is much less. However, it won’t allow you to receive super profits. Scalping is based on trading on the short timeframes, with a minimum Take Profit for each transaction. In this case, your success depends on the number of transactions made.
The scalping method is a base for a lot of robots trading around the clock, and bringing a stable profit.
First of all, it’s necessary to define, which deposit on Forex is considered small. In most cases, the minimal figure is $100; there are also brokers that support accounts of $50 or less. The experts considered below are recommended to use with at least $50 on the account.
- Piplaser. This is a paid advisor, but you can find its free versions. In any case, we suggest paying attention to the official versions, since the license will cost you only $7. This robot trades during the Asian session. It demonstrates the best results on the USD/CAD pair, on the M15 timeframe.
- Bunny. The expert works on the principle of Martingale, and is used on the minimal timeframe - M1. It trades major pairs. If you don’t want the robot to continue risking and increasing the lot after an unsuccessful deal, you can turn this option off in the settings. We recommend you to withdraw your money in time. This program is paid, but there are also free Bunny builds on the Internet.
- EA Better. The work of this program is based on neural networks, so that it’s able to learn and adapt to market changes. It trades on medium timeframes, and demonstrates the best results on the period of H1. We should also note a flexible system of preventing the losses. It’s possible to use such pairs as EUR/USD, USD/JPY, GBP/USD, USD/CHF, USD/CAD, AUD/USD, EUR/JPY and GBP/JPY.
- Wall Street. It’s a popular robot, which can be for free in a demo mode. According to many users, it adapts to changes on the currency market most easily and quickly. It supports such pairs as GBP/USD, EUR/USD, USD/CHF and USD/JPY. It’s best to use this advisor on the M15 period. It’s worth noting that the program selects the transactions with the minimal spread and the highest liquidity.
Before you start real trading, be sure to test the program on a demo account. Study the strategy used by the robot and read the developer's guide to choose the right settings.