Expert Advisors (EAs) Comparison Table
Automated strategies based on Expert Advisors (EAs) analyze the market 24/7 and create, modify, and close trading orders. The algorithms of these systems can spot trading opportunities based on market data (price, volatility, volume, etc.). EAs also incorporate money management modules for position sizing, spread/slippage control, and risk management. An Expert Advisor is codded in specific languages, according to the trading platform that it will be used. For example, if the platform is the MT4 then the programming language is MQL4 and if the platform is MetaTrader5 then the programming language is MQL5.
Compare EAs -Compare Also: » Online Forex Accounts | » Bitcoin Exchanges | » Forex Trade Signals
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SYSTEMS |
BASIC FEATURES |
EXTRA FEATURES |
WEBSITE |
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EA BUILDER (Custom EAs Building)
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□ EA TYPE: Easy Expert Advisors Builder (No Coding)
□ MARKETS: All Financial Markets
□ ASSETS: All Financial Assets □ TIMEFRAME: Any Timeframe
□ PLATFORMS:
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■ Fully Customized Expert Advisor Creation ■ No Need for Programming Skills (fully graphical interface) ■ Wide variety of TA Tools
■ Full Money Management Functions ■ Time Intervals
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■ 97 USD □ One-Time purchase □ Unlimited Real Accounts □ Unlimited Demo Accounts □ Free for creating Indicators
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WALLSTREET FOREX
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□ EA TYPE: Forex Scalper □ MARKETS: Foreign Exchange □ ASSETS: 7 Major Currency Pairs
□ TIMEFRAME: Multiple Timeframes □ PLATFORMS:
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■ 4/5 Digits trading ■ Risk Protection ■ Spread & Slippage Protection
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■ 299 USD □ One-Time purchase □ Three (3) Real Accounts □ Unlimited Demos □ Includes the Omega Indicator
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FOREX DIAMOND
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□ EA TYPE: Forex Scalper □ MARKETS: Foreign Exchange □ ASSETS: 3 Major Currency pairs
□ TIMEFRAME: M15 Timeframe □ PLATFORMS:
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■ Dynamic Take Profit and Stop-Loss ■ Spread Protection ■ Slippage Protection ■ 3 Different Algorithms (Trend, Retrace, and Countertrend)
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■ 279 USD □ One-Time purchase □ One (1) Real Account □ Unlimited Demos □ Free Future Updates
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Key Tips When Trading With Expert Advisors
These are some key tips when using Expert Advisors:
(1) Seek exclusively for an ECN/STP Forex Broker, not a Dealing-Desk
- Tight spreads and fast order execution are absolutely essential for automated-trading, especially as concerns scalping-machines
(2) Make sure that the broker you have chosen fully accepts EA trading and scalping
- ECN/STP brokers fully allow scalping and automated-trading
(3) 1st-Test: Use historical backtesting to measure the EA past performance
- Auto-Trading platforms such is the MT4 offer a built-in historical backtesting module
(4) 2nd-Test: Apply your Expert Advisor on a Demo Account before using it on a Real Account
- This is a risk-free process, a Demo Account is a clever way to start
(5) 3rd-Test: Apply your EA on a mini-lot account before moving to a standard-lot account
- Testing your EA on real market conditions matters, a mini-lot account is an ideal choice for starters
(6) Make sure you have the right EA configuration according to your risk profile and the market conditions you are about to face
- This includes position-sizing, spread control, slippage control, etc.
(7) Don’t confuse your Expert Advisor's activity with any other activity in the same account
- Apply your EA on an exclusive account, otherwise, the money management of your EA can be seriously confused
(8) If you take automated-trading seriously, think about getting a VPS hosting service
- This is the best solution for avoiding hardware failures. Some ECN/STP brokers offer a VPS Forex hosting for free (based on your monthly trading volumes)
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