If you are like most Forex traders, you want to make money. And, if you want to make money like most Forex traders, you have probably wondered what the best Expert Advisor for MT4 is. But before getting into that, what is an Expert Advisor, and how does it work?
An expert advisor (EA) is a computer program that takes in information and uses artificial intelligence to make investment decisions. They automate the process of making investment decisions and can save investors time and money.
Advisors can be used for stocks, indices, commodities, Forex, and more. Most advisors are designed to work with MetaTrader 4 (MT4) trading platform.
Expert advisors can provide a wide range of services, including entry and exit points, stopping losses and taking profits, risk management, and more. They can also be used to backtest trading strategies to see how they would have performed in the past.
There are a number of different types of expert advisors available, so it is essential to do your research before choosing one. The best advisors are typically those that have been backtested and have a good track record.
In this article, we will go through the different types of expert advisors and compare their features to find out the best expert advisor for MT4.
What Is MetaTrader 4?
MetaTrader 4 or MT4 is a platform that allows you to trade on the financial markets and can be used to trade stocks, Forex, commodities, and other derivatives. MetaTrader 4 is a popular choice for traders as it offers a wide range of features and tools, including an extensive selection of technical indicators, an automated trading system (Expert Advisor), and charting tools.
MT4 also supports hedging and allows traders to trade on margin. Additionally, it has a large community of users who share trading strategies and ideas. Check my full guide about how to trade using Metatrader4.
Also Read: How to Install MetaTrader 4
Why Should I Use an Expert Advisor for MT4?
As it was mentioned before, an expert advisor is a computer program that helps you trade the Forex (foreign exchange) market. It does this by analyzing the markets for you and providing buy and sell signals. It can give you detailed information about the market conditions, helping you make informed trading decisions.
When you use the best expert advisor for MT4 for you, all you need to do is follow its signals. This takes the guesswork out of trading and allows you to focus on making money.
While all expert advisors offer similar benefits, there are some that are better suited for certain types of traders than others.
However, it is important to first learn how to run an expert advisor on MetaTrader 4. If you know how to do that, keep reading on to see what’s the best expert advisor for MT4.
Forex Expert Advisor Pros
Forex expert advisors have become increasingly popular over the last few years. This is because they offer a number of advantages to traders, which include the followings:
- They can help you to automate your trading strategies.
- The best expert advisor for MT4 helps you identify different opportunities, survey the market, analyze factors quickly, and trade accordingly.
- They can help you manage your risk by setting stop losses and taking profits levels.
- Your best expert advisor for MT4 also helps you trade in a more disciplined manner by taking the emotion out of trading.
- Forex EAs are usually active 24/7 or 24/5 and do not need to take any breaks.
- Additionally, by using a Forex EA, since your best expert advisor for MT4 advises you, there will no longer be a need to hire a specialist.
Forex Expert Advisor Cons
Although EAs are helpful tools in Forex trading, the best expert advisor for MT4 can also have some cons. Some of the most common disadvantages are mentioned below:
- One of the biggest drawbacks of EAs is that they can be expensive. You need to consider your budget and choose the best expert advisor for MT4 accordingly.
- One of the most significant drawbacks of all EAs, even the best expert advisor for MT4, is that you have to stick to one currency to get accurate results. While it is possible to create an EA that trades multiple pairs simultaneously, this can lead to added complexity and increased chances of incurring losses.
It is therefore recommended that EAs be explicitly designed for a single instrument in order to ensure better accuracy and overall performance.
- Forex expert advisors are designed to follow technical indicators and price patterns to make trading decisions. Many fundamental factors such as economic indicators and political events can affect a currency’s price, but these factors are not taken into account by an EA. Consequently, an EA may not recognize changes in a currency’s value that are based on fundamental data and may continue to trade currencies at prices that no longer reflect the underlying market conditions. So, they may result in losses for traders if used incorrectly.
- Even the best expert advisor for MT4 is subject to technical problems, which can range from minor inconveniences to full-blown system crashes. Many factors can contribute to these technical problems, including outdated software, faulty coding, and user error.
In many cases, technical problems can be resolved by restarting the MetaTrader4 platform or reinstalling the Forex EA. However, it may be necessary to seek assistance from the broker or a professional technician in some cases.
How to Choose the Best Expert Advisor for MT4
Expert advisors are a big part of MT4, and there are thousands of them to choose from. When it comes to finding the best expert advisor for MT4, there are several factors to take into account.
- One of the most important factors in choosing the best Forex expert advisor is the amount of experience the advisor has with the platform.
- Another key consideration is how well the advisor has been tested and how successful its past performances have been.
- Additionally, it’s important to find an advisor that is compatible with your trading style and strategy.
- Finally, the best expert advisor for MT4 you use is the one that meets your specific needs and helps you achieve your trading goals. So, specify your needs, and do your research to see which expert advisor has a history of being successful in fulfilling those needs.
Things to Consider When Working with an Expert Advisor
When looking for the best expert advisor for MT4 to help with your trading, there are a few things you need to consider.
- The first is the type of trading you want to do. Different EAs are better suited for different kinds of trading. For example, if you want to scalp the markets, you’ll need an EA that is specifically designed for that purpose.
- Before getting started, adjust the setting according to your needs. Otherwise, it won’t be able to work and analyze the market accurately.
- Check trades occasionally to ensure that there is no false signal.
- And another important thing is to test drive any EA before purchasing it. Most developers offer a free trial period so you can try out the EA and make sure it meets your needs. Try multiple EAs to see which one is the best expert advisor for MT4 for you.
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List of Best Expert Advisors for MT4
MetaTrader 4 offers a host of different expert advisors to suit everyone’s needs. Each type of advisor has its own unique strengths and weaknesses, so it is vital to choose the right one for your trading style.
Follow this detailed guide on the best expert advisor for MT4 to see which option will work best for you.
Athena Expert Advisor
An Athena expert advisor is among the best expert advisor for MT4 and is an award-winning momentum trading.
Athena, presented by Chris Svorcik, is an automated system that helps traders make informed and profitable investment decisions. The Athena advisor is designed to trade EUR/USD pairs and work with a wide range of securities, including stocks, options, and futures. The software is very simple and can be used by both novice and experienced investors.
As the Athena advisor is based on a sophisticated mathematical algorithm that analyzes market data, it can be one of the most profitable expert advisors you can choose. The software also incorporates risk management features that help traders protect their investments.
You can use the rental Athena advisor and manage your accounts for free or find solutions with just a $50 initial deposit. You can pay by profit share starting at 20% of the monthly profit. The rental version also provides you with a free VPS and 24/5 customer support.
1000 Pip Climber Expert Advisor
On our list, 1000 Pip Climber is another best expert advisor. This EA’s rate on Trustpilot is 9.6/10 and is nominated as one of the highest-rated Forex expert advisors.
The software is easy to install and configure and can be used by traders of all levels of experience. 1000 Pip Climber employs a number of sophisticated trading strategies that have been proven to work in the Forex market, and it is constantly updated with the latest information and trends.
One of the other benefits of this expert advisor is that it has no minimum deposit, and you can access all features for free. It may be the best free expert advisor available.
Flex Expert Advisor
Flex expert advisor is a verified expert advisor and one of the best expert advisors MT4 that uses “virtual trades” technology and has a rating of 9.5 on Trustpilot.
Flex EA is a powerful yet easy-to-use programming language for developing trading robots for the MetaTrader 4 platform. It uses virtual trades in the background and monitors the market to choose the perfect entry point. Flex does all the processes automatically.
The mentioned expert advisor has been developed to trade successfully in any market conditions and gives you the ability to write sophisticated trading algorithms without having to learn complex coding languages.
The required deposit for using Flex is $3000.
Ultima Expert Advisor
Ultima EA is another option that might be the best expert advisor for MT4.
Ultima, created by Mislav Nikolic and Chris Svorcik in 2019, is a fully automated expert advisor that trades the breakout of price channels. The Ultima EA uses a combination of different filters and MACD to determine when to enter and exit trades. The Ultima EA has been backtested and optimized on a historical data set. The backtest was completed with 99.9% modeling accuracy and real variable spreads.
Ultima EA offers different subscription rental options to its users. The first option is a yearly subscription, which allows users to have access to three different trading expert advisors, Ultima, Ultima Pro, and Rush, for just €1,899 a year.
The second option is a monthly subscription, which gives users access to the Ultima EA software for one month for €199 a month.
Zeus Expert Advisor
Some believe that the best expert advisor for MT4 is a program that helps traders make automated decisions in the Forex market. A good EA, like Zeus EA, can help you make money while you sleep by automatically entering and exiting trades based on predetermined rules.
The Zeus EA is one of the most popular and profitable expert advisors on the market. Created by Russian trader Sergey Golubev in 2019, Zeus has been profitable in backtesting and gives you 5%-15% monthly returns. Numerous users have named this advisor the best Forex expert advisor 2022.
It is a simple, fast, and fully automated advisor and can trade with EUR/USD. You can subscribe for the yearly access for just €299.
FX Fortnite Expert Advisor
FX Fortnite might be the best expert advisor for MT4 for your needs. It helps you trade on the Forex market and provides you with trading signals that tell you when to buy or sell a currency pair.
Fortnite expert advisor can be a great help in making profitable trades and has been proven to be effective. Fortnite has a rating of 9.4% and has a unique set of features that make it one of the most advanced EAs on the market.
This EA’s setting can be modified according to your trading style, and you can choose any currency pair and any time frame.
Its required deposit is $500.
Calypso Expert Advisor
Calypso, one of the other options of the best expert advisor for MT4, is a program that helps traders make profitable investments in the Forex market. This EA can be used to open, close, and manage trades automatically. It also provides real-time quotes and analysis of the market conditions so traders can make informed decisions about their investments.
Calypso EA is based on the popular trading strategy called “calypso.” The strategy is named after the sea nymph in Greek mythology who possessed the power to charm anyone she met. The EA uses a combination of technical indicators to identify high-probability trade setups.
This expert advisor has been tested and optimized by professional traders and is now available to the public. It can be used with any broker that offers the MT4 trading platform.
There are some free versions of Calypso available online that can be easily customized. The minimum deposit for other Calypso versions is $1,000.
Learn2Trade Expert Advisor
Learn2Trade is among the best trading expert advisor for MT4. It can trade in manual or automatic mode and has easy-to-use software. This EA trades with EUR/USD. There are some free Forex signals for traders to get started, but for getting advice, the minimum price is $250.
Learn2Trade is a Forex expert advisor and educational company that provides quality services and online trading courses to help traders become successful in the Forex market. The company also offers a variety of educational resources to help traders learn how to trade currencies successfully. Learn2Trade also offers a 30-day money-back guarantee so that traders feel confident that they are getting quality products and services.
This advisor’s required deposit is $1000.
Forex Fury Expert Advisor
Forex Fury is a new Forex robot that has been making quite a name for itself lately. Some people argue that it’s the best expert advisor for MT4. Developed by Mark and his team, this Forex robot is quickly gaining a following of happy users, 99% of positive feedback, who are reporting consistent profits with it.
There are several things that set Forex Fury EA apart from the competition.
First, it is one of the most user-friendly robots on the market. It is easy to set up and operate, even for beginners.
Second, they provide their clients with installation guides and videos.
Third, its algorithm is highly sophisticated and has been finely tuned to achieve excellent results in today’s volatile markets.
Fourth, it comes with a 100% money-back guarantee, so you can try it out risk-free.
This expert advisor offers two subscription options: The Gold account, which costs $300, and the Diamond account, which costs $440.
The required deposit for Forex Fury is $2000.
Odin Forex Robot
If you’re looking for the best expert advisor for MT4 that can help you take your profits to the next level, then Odin Forex Robot may be just what you need. This expert advisor is designed to work with the MetaTrader 4 trading platform, and it has some features that can help you achieve success in the Forex market.
Odin Forex Robot comes with several built-in risk management features that can help you protect your profits while still allowing you to take advantage of opportunities when they arise. The robot also has a number of settings that you can adjust to suit your own trading style.
One of the other things that make Odin Forex Robot so unique is its ability to adapt to changing market conditions. This EA also has a 24/5 support team.
The minimum price for getting started is $200, and the minimum deposit is $2000.
Happy Frequency Expert Advisor
Happy Frequency EA is an expert advisor for the MetaTrader 4 platform that trades EURUSD, USDCAD, EURGBP, EURJPY, GBPUSD, AUDUSD, EURCHF, USDCHF, and USDJPY. This EA is a combination of the trend, grid, semi-martingale, and hedge strategies, and you can use its features for $300.
Running 24 hours a day, Happy Frequency needs a VPS.
The EA can be set to trade in one direction only, buy or sell, or it can be set to trade in both directions.
Although the minimum deposit is a bit high, $4000, Happy Frequency offers 30-day money-back guarantee.
Using so many strategies and concepts, it might be the best expert advisor for MT4 for your trading style.
FX Classic Trader
On our list of different EAs, FX Classic Trader might be the best expert advisor for MT4. It is an automated trading system for the MetaTrader 4 platform and is designed to trade with non-martingale strategies.
With 335% profitability and a rating of 9.3, FX Classic Trader is a reliable tool that can help you increase your trading profits.
The minimum recommended deposit for FX Classic Trader is $200, and the price for getting started is $109.
|EA||Features||Required Initial Deposit|
|Athena EA||Free – Incorporates risk management||$50|
|1000 Pip Climber EA||Easy-to-install – No minimum deposit needed||$0|
|Flex EA||Utilizes virtual trades||$3,000|
|Ultima EA||99.9% modeling accuracy in backtests||€199/mo subscription fee|
|Zeus EA||5%-15% monthly returns||€299/yr subscription fee|
|FX Fortnite EA||Provides trading signals||$500|
|Calypso EA||real-time quotes and analysis of the market – Uses Calypso strategy||$1,000|
|Learn2Trade EA||Highest-rated EA on TrustPilot||$1,000|
|Forex Fury EA||User-friendly – 100% money-back guarantee||$2,000|
|Odin Forex Robot||Built-in risk management features||$2,000|
|Happy Frequency EA||Benefits from a combination of the trend, grid, semi-martingale, and hedge strategies||$4,000|
|FX Classic Trader||Uses non-martingale strategies||$200|
How to Choose the Best Expert Advisor for MT4
We introduced twelve EAs on the market. However, which one is the best? The truth is, there is no best expert advisor in general, and it all depends on your own personal trading style and preferences. Some traders prefer to use trend-following systems, while others are more comfortable with discretionary systems that allow more flexibility in trade entry and exit points. So, any of them can be the best expert advisor for MT4 for you.
The highest-rated expert advisor on Trustpilot is Learn2trade EA, with a rating of 9.7/10, and can be considered the best expert advisor for MT4 in 2022.
How to Use Forex EA
After choosing the best expert advisor for MT4, it’s time to start working with it. To use a Forex EA, you will need first to download it and then install it on your computer. You can also build your own EA.
Once it is installed, you will need to open up your MetaTrader 4 platform and then find the “Expert Advisors” tab. Once you have found this tab, you should click on “New” and then select the file of the Forex EA that you just downloaded. You will then need to give it a name and click on “Create.” The final step is to configure the settings of your Forex EA and adjust the parameters the way you want.
Now you can get started and let the EA help you in making investment decisions.
There are many great EAs out there, but remember that not all of them will work for you. All in all, the best expert advisor for MT4 is one that suits your individual trading style.
No matter what type of system you choose, it’s essential to consider the mentioned factors while working with the expert advisor you’ve chosen. Do your research and backtest the strategy against historical data to make sure it has a positive expectancy. Also, be sure to demo trade the system for a while before live trading to ensure that you’re comfortable with the rules and that it meets your risk tolerance level. With the proper preparation, you can confidently use the best expert advisor for MT4 for your needs to help you achieve your trading goals.
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What are the Best Expert Advisors for MT4?
There are many great EAs for MT4 on the market, such as Athena, Zeus, Calypto, and Odin.
How to Choose Which Expert Advisor Fits Your Trading needs?
The most crucial factor is the type of trading you want to do. Different Expert Advisors are better suited for different trading needs.
Is Best Expert Advisor for MT4 Risk-Free?
No, nothing is risk-free! You should know better than that! An EA does not take into account many important factors, such as political events or economic indicators.
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Yes, proudly! Cloudzy provides ultrafast, reliable Forex VPS that comes at affordable prices. You can basically enjoy using top-tier computers at the price of two Big Macs.
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