Automated trading support in the MetaTrader 4 (MT4) platform was a significant upgrade from its predecessor, MetaTrader 3. Since its launch in 2005, it has gained growing interest among traders and soon became a true leader in its segment. The progress in automated trading over the past 20 years has been impressive, thanks to the rapid evolution of Expert Advisors (EAs).
The first Forex robots were relatively simple programs incapable of using complex algorithms. Today, Forex robot stores amaze traders with the capabilities developers have built into their EAs. In this article, we will provide a brief overview of the best Forex robot stores, where you can choose an EA that suits your goals and trading style.
Our Methodology: How We Ranked the Top MT4 EA Stores
To achieve an objective and consistent assessment of MT4 EA stores, we developed a set of comparison criteria. Each store was evaluated by independent experts, whose combined scores formed the basis for this ranking. Among the most important factors for the success of Forex robot stores, we identified the following:
- Performance and stability of the Forex robots they sell;
- Wide selection of EAs suitable for different trading strategies;
- Licensed products;
- Collaboration with reputable EAs development teams;
- Detailed product reviews highlighting not only the advantages of the EAs but also their weaknesses;
- Product ratings based on objective indicators;
- Regular updates;
- Exclusive special offers or bonuses for regular customers;
- Money-back guarantees;
- A high-quality support service from the store and active developer support for the EA’s products;
- Positive reviews on independent platforms;
- Availability of discounts, etc.
The Top 7 Best Forex Robot Stores for MT4
MQL5 Marketplace
The MQL5 Marketplace is more than just a store for automated trading software; it’s a hub for both traders and developers worldwide. As a result, the store’s EAs selection is updated daily with dozens of new offers. Of course, not all of them are equally effective. However, if you meticulously study all the documentation on these Forex robots, you’ll be able to find options that perfectly suit your trading style.
Forex Store
Forex Store takes a responsible approach to product selection, offering EAs from the best development teams. All software is ranked based on a wide range of criteria, allowing traders to see a comprehensive assessment of the trading robot’s effectiveness.
A detailed review accompanies each EA, so traders can compare them without leaving the platform. Some software is under the Forex Store’s special protection, guaranteeing buyers high-quality support service from the developer and a full refund should any issues arise.
EA Forex Store
EA Forex Store offers hundreds of alternative Forex robots for various trading styles. Traders can search for a suitable option among nearly 750 Expert Advisors. For more straightforward navigation among the numerous products, the store distinguishes categories such as Verified Profits EAs, Prop Firm EAs, Gold EAs, and others. You can also receive free products offered weekly or monthly, and a VIP product with a significant discount.
CheaperForex
The CheaperForex marketplace sells automated trading software for diverse trading needs at attractive discounts. The seller guarantees genuine products and free updates. A unique feature of this marketplace is that sellers can be not only software developers but also regular traders. If you purchased an EA that no longer suits your trading strategy, you can sell it through CheaperForex. At the same time, the website’s administration monitors copyright compliance and does not allow the sale of cracked software.
Forex Box
Selling trading automation software is just one of Forex Box’s areas of expertise. The company specializes in automated hosting for MetaTrader with a wide range of pricing plans. Moreover, Forex Box offers the sale of highly rated trading advisors to its clients. Since the company cares about its reputation, its product range includes only products with a rating of at least 3.4 out of 5. This fundamentally distinguishes this platform from other stores, which collect the widest possible range of products, including items with ratings close to zero.
XAUBOT AI
XAUBOT AI is an unusual store for purchasing a Forex trading bot. Here, buyers can build their own EA, choosing the pre-built strategies that suit their trading style. To begin creating a Forex robot, you must select a pricing plan and the market for which you’ll be designing the bot. Then, you select pre-built templates, download your bot, and activate the license.
Forex Outlet Shop
Forex Outlet Shop sells various digital products necessary for Forex trading. The marketplace was created by traders, so they accept products for sale not only from developers but also from other traders. The product selection is significantly narrower than at other stores, as are the warranties offered by the seller.
What to Check Before Buying a Forex Robot
Given the huge selection of worthy Forex robots in the market, don’t purchase the one without considering numerous alternatives. Compare popular options available for your trading strategies and choose the most cost-effective one. Consider such factors as:
- Licensing and ongoing support from the developer;
- Stable EA performance for at least the past year;
- High metrics on such indicators as win rate and profit factor;
- Low drawdown values;
- Built-in risk management features;
- Number of days on the market;
- Money-back guarantees from the developer or seller;
- Tutorial availability.
Ensure your trading strategy complies with the developer’s specifications on OS, account type, and minimum deposit requirements. Also, read detailed reviews of your chosen EA, not only from experts but also from regular traders. Use MT4’s Strategy Tester to backtest the EA on various historical data. Only by doing all this can you be sure that you’re buying a robot that will improve your trading.
Conclusion
The launch of the MT4 trading platform was a turning point in trading, as it created the conditions for automated trading. It remains one of the most popular platforms despite being around for twenty years. Given its popularity, many developers create trading bots specifically for this platform.
To understand the wide variety of automated trading software, visit the best Forex stores. They offer original products, detailed reviews, various guarantees, and a wealth of educational materials. By choosing EAs from such stores, you can be confident in their quality and in their respect for developers’ copyrights.