Forex trading robots are now widely available to members of the general public and are becoming increasingly popular. So with so many commercial systems now on the market, how profitable are these forex trading robots in reality and are they as profitable as they make out to be?

Well it should be said that most of these trading robots are full of hype. Their sales pages make bold statements and will often have very impressive past records, but you should be careful about believing everything you read. A lot of these systems will be using back-tests to demonstrate a system's profitability, and the reality of real-life trading can be somewhat different.

Although this alone does not necessarily make them a scam. You will often find that these trading robots are just as profitable when you trade them yourself, and their past performance data is an accurate reflection of their overall success rate. So don't be too hasty in writing off any systems that look too good to be true because there are some decent forex trading robots out there that are profitable.

Unfortunately it's hard to separate the good from the bad unless you actually purchase them yourself and test them out. This is often the only way to test how good a particular system is. Like any market there are some products that are better than others.

The good thing about forex trading robots is that most of them come with a full money-back.guarantee. This means that you can try out as many forex trading robots as you like without risking any of your hard-earned money. Just set them up on a demo account in Metatrader4 and see how they perform. If they are initially profitable you can stick with them, and maybe start using them to trade real money, and if they are not you can simply ask for a full refund within the guarantee period.

The best trading robots will use a sound stop loss strategy and will have more winning trades than losing ones. Also their target profits from each trade should ideally be greater than their stop losses.

Overall there are some very profitable forex trading robots out there, but they are not all as profitable as they make out. If you find a good one though, then you can make very good money from forex trading, and best of all they require little input from you because you can set them up to run on autopilot and place trades for you.

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About the Author

For reviews of individual forex trading robots please click here to read James Woolley's Forex Tracer review and Silicon Forex review.