If you are looking for free trading robots to download, then you have come to the right place. Here you will find the best free trading robot that is packed with a range of useful features and fully customisable settings for you to choose from. That being said, please complete the form below to get your free trading robot download. *Please use a real email address as you will be sent the free trading robot download link*
We will also explain to you what a trading bot is, how trading robots work, the types of trading bots, pros and cons of using one and how-to setup your free trading bot. We will also list what to look for when choosing trading robots based on the many years of experience we have in developing and testing thousands of automated trading systems.
What is a Trading Robot?
A trading robot is an automated trading system that can analyse the markets for you to find potential trading signals. They have built-in algorithms based on specific trading strategies that do all of the hard work for you. These trading algorithms can include various forms of market analysis including technical indicators, fundamental factors and price action patterns.
When the automatic trading bot finds a trade signal, it can take a position and manage it for you. This makes trading bots a popular choice for those who are looking for a hands-off way to trade online. They are used by beginners who may not have the time or knowledge for trading online and also by professionals who want to automate their own trading strategies.
You will find all types of robots including forex robots, crypto robots and stock trading robots. Some robots will trade one asset class, whereas others can be used across multiple markets. There are semi-automated and fully-automated robots. The main difference between the two being that the semi-automated robots will send you an alert notification for you to decide if you would like to trade or not whereas a fully-automated robot does everything for you.
- Hands-free trading solution for users of all experience levels
- Save time from analysing charts and learning how to trade
- Limit the negative impact of psychological and emotional factors
- Consistent entry, exit and money management
- Automated algorithms can lead to quicker entry and better prices
- Trade the markets around the clock for more opportunity
- Implement complex trading strategies that may be difficult to trade manually
- Simultaneously trade multiple financial instruments and chart timeframes
- Semi-automated option allows you to confirm trading signals
- Backtesting allows you to get a rough idea of historical performance of a trading strategy
- Thousands of paid and free trading robots to choose from
- Require good broker conditions and hardware for optimal trading performance
- Remove the human element and thus cannot see things that the human eye can
- Cannot always account for unexpected market events
- Lots of poorly developed trading bots that have not been maintained
Trading Robot Strategies
There are trading robots that implement different types of strategies, which is great as you can choose a robot that can match your own preferred trading style. It doesn’t matter if you are a scalper who wants lots of action, or looking to invest for the long term, there is a trading bot for everyone. You also get access to adjust all of the input settings for our free trading robot so that you can customise it according to your own needs. Some of the main trading bot strategies you will come across include the following:
This type of trading robot will look to try and take advantage of small movements in price action. Scalping robots can trade often and are therefore popular amongst day traders who like a lot of activity. They usually enter and exit the market within minutes on short term chart timeframes such as the 1-minute and 5-minute charts. This does mean that they require a trading broker that has suitable conditions for scalping, including low spreads and commission fees along with fast trade execution speeds. Otherwise, you will find scalping robots cannot always perform that well as these factors have a significant impact on results. I find ECN brokers such as IC Markets best for automated scalping systems. They have plenty of liquidity from a deep pool of liquidity providers which can help them to deliver superior pricing and execution.
Trend Trading Robots
If you prefer to stay in the market for days, weeks or even months, then you might want to consider a trend trading robot. These bots will look for the ideal opportunity to enter the market when they anticipate there may be a long-term trend forming. If the robot is wrong, it should look to close the position as early as possible. If the bot correctly enters the market at the start of a trend, it can hold the position and make the most out of a major trend. Trend robots can therefore make bigger gains than short-term trading bots, but they usually trade more infrequently. Of course, a trend robot running on the 5-minute charts is likely to find more trading signals then one which is running on the daily chart timeframe.
Range Trading Robots
Range trading robots look to try and pick of the top and bottom of the markets. They will short (sell) when they determine the market is overbought and go long (buy) when they determine the market is oversold. As the name suggests, these types of robot work best when the market is range bound, which is often during hours of low volume and volatility. I find them to be more suitable during quiet market hours such as after the US close and prior to the Asian trading session. It is quite a well-known concept to buy low and sell high, which is what range trading robots are primarily designed to do. However, if the market does not reverse, then the robot should have a stop loss in place to close a trade and wait for the next opportunity to come along.
Grid Trading Robots
Another type of trading robot that you will often come across is the grid trading bot. Grid trading is when orders are placed above and below a set price, creating a grid of orders at incrementally increasing and decreasing prices. The principle behind a successful grid trading strategy with the trend is that if the market price consistently moves in one direction, your position to capitalize on it gets larger. As the price rises, the grid triggers more buy orders causing your position to grow. Your position will grow and become more profitable if the price continues to run in this direction. However, if the market turns around, the grid robot can start to open positions in the opposite direction to try and cover for any potential losses. This means that you can end up with lots of positions open in both directions and with different position sizes. As you can imagine, things can get out of hand quite quickly, especially if you are not monitoring the trading activity. Therefore, I personally try to avoid grid robots as more often than not, I have seen them lead to margin calls and blow up accounts. I would much rather use a trading robot that has a good trading strategy combined with sensible money management.
These types of trading bots are similar to grid trading strategies as they also place trades in opposite direction to try and capitalise on the market movement in either direction. Whilst this does mean that they can be profitable in ranging market conditions, it does also mean that you can get stuck with large losses should the market continue to go against your positions. I have seen hedging robots that will continue to open trades to try and cover losses but more often then not, they cannot be sustained and significant drawdowns occur. For that reason, I would still personally prefer to use a trading robot that has a logical entry and exit criteria without needing to try and trap the market. However, I do understand that there are traders who are happy to take the additional risk for possible gains. Every trader is different so it is important to make sure you clearly understand the trading strategy being used by a robot and consider if it is for you.
News Trading Robots
A news trading robot is an expert advisor that monitors economic events, trends in politics, and news stories that could potentially impact trading conditions and price action in the market. These trading bots are often used for hedging risk on assets such as commodities, stocks and forex that are heavily impacted by the news. The main problem that I find with news trading robots is that they often trade at times when the brokers trading conditions are not suitable. This is because before, during and after a major news release, you will find that spreads and slippage can be much higher than usual due to market volatility. This means that the bot might not be able to execute trades at the desired prices which can have a significant impact on results. On the other hand, there are many trading robots that have built-in news filters which can be switched on to avoid trading around the news for these reasons.
Types of Trading Robot
We have discussed some of the different trading robot strategies that you can find, but it is also worth considering what markets you want to trade. There are trading robots that have been designed to trade various financial instruments and markets, including the following:
Forex robots are perhaps the most popular types of trading robot. There are literally thousands of paid and free forex robots that you can choose from. They come with all sorts of forex trading strategies built-in and can trade forex currency pairs including minor, major and exotic crosses. You simply attach them to your forex charts in your trading platform and they will do all of the hard work for you. My top choices when it comes to forex trading robots would be Forex Robotron and the Forex Flex EA. Both of these forex robots have been in development for many years and have verified results for you to check how they have been performing. Of course, just always keep in mind that historical performance is by no means any guarantee of future results as anything can happen in trading.
Crypto robots are becoming more and more widely available as there is an ever-increasing interest in the cryptocurrency markets from all types of traders and investors. Crypto trading robots try to capitalise on the volatility of the crypto market which does mean that they can trade quite frequently as there is more often than not ample market movement. I would personally stick to popular cryptocurrencies such as Bitcoin (BTC) and Ethereum (ETH), primarily because I feel that they are the most secure long-term. I would also proceed with great caution if considering any crypto robot simply because it is such a volatile market. Whilst profits can be great, losses can be even more significant. I would therefore want to use a crypto bot that has sensible money management which can be adjusted according to my own risk preferences.
Stock Trading Robots
If you like to trade stocks then you may want to be on the look out for a stock trading robot. These are rarer to find when compared to forex robots so your choice is going to be more limited. A stock robot will look to take a buy position in a company or basket of companies when it thinks that the price is going to rise. On the contrary, they will look to take a sell position if the algorithm determines that price may fall. The stock trading bot should then manage the position and look to exit the market at the right opportunity. It is worth mentioning that you can use our free trading robot on any market and financial instrument that you wish. It is very versatile and fully customisable according to your own needs.
You will find that there are many paid and free trading robots that have been developed for the MetaTrader 4 and MetaTrader 5 platforms. These are the most popular CFD trading platforms which enables you to buy and sell financial instruments without needing to own the underlying asset. Therefore, they are considered by many to be the best trading platforms for using automated trading systems, known as expert advisors (EA) within MetaTrader.
The majority of trading brokers provide either or both of the MetaTrader platforms so you won’t be short of choice when looking for somewhere to run your trading robot. My best broker for trading robots is IC Markets. This is because they have tight spreads, low commission fees and quick trade execution speeds. They also accept various convenient payment methods and have excellent 24/7 customer support.
If you are looking for a free trading robot, then MetaTrader is a great place to start. Our free robot runs in the MetaTrader 4 (MT4) platform and can be downloaded for free buy filling out the form on this page. Alternatively, you can find thousands of free trading robots in the MQL marketplace which is easily accessible from directly within the MetaTrader platform. Some of the robots are free for life whereas others include a free trial that can be a good way to see how the bot works before making a commitment.
Choosing a Trading Robot
You can find plenty of paid and free trading robots online, but there are some important things to consider before choosing the best trading robots for your own financial goals. Whilst robot developers are likely to make claims that they have the best trading robot, you should do your own due diligence and verify claims by checking for real results verified by a third party such as Myfxbook. I also like to make sure that a robot has 99% modelling quality backtests over many years of historical data. This helps to give me a clear indication of what type of strategy the EA is using and whether it is something that I would feel comfortable with using on my trading account. Always make sure to do your own research before choosing a trading bot, even if it is free to download. I would always use any trading robot on a demo account to begin with to get an idea of how it works and if it is suitable for my needs. Some of the key things to consider when choosing a robot include:
- Verified Results
- Accurate Backtests
- Low Drawdowns
- High Win Rate
- High Profit Factor
- Sensible Money Management
- Duration Running
- Customisable Features
- Customer Support
- Price and Licenses
Trading Robot Tips
By now, you should have a good understanding of trading robots and may even be considering using one. Here are some handy tips to help get you started:
- Start on a demo account to see how things go
- Adjust the settings according to your own trading style
- Research as much as possible about the various trading bots available
- Be realistic and do not expect to make lots of profit in a short space of time
- Continue learning about trading online and develop your own automated strategies
- Keep an eye on your trading bot to see how things are going and intervene if necessary
- Try to avoid trading robot scams by checking for verified results and reading reviews
- See if there is a free robot trial available or any refund policy
Should I Use Trading Bots?
This really depends on your current situation. If you do not have the time or knowledge required to trade manually, then automated trading systems can be a great solution. They enable anyone to get access to trade the markets online, regardless of your experience level or investment size. You just need a demo or live account with an online broker and access to a trading platform which they will usually provide free of charge. You can even trade manually alongside your chosen trading robot if you want to learn and develop your own trading strategy at the same time.
Custom Trading Robots
If you have an idea for a trading strategy or already have a successful system, you could develop your very own custom trading bot. The MetaTrader platform has a built-in programming interface where you can code your own expert advisors to trade how you want them to. If you don’t have the coding skills required, you could always hire a freelancer to help being your trading strategies to life. Creating custom trading robots can be also be a great way to back test your own ideas for systems over historical data to get an idea of how they may have performed historically across various financial instruments and chart timeframes. I often like to develop and test expert advisors to find a suitable combination of input settings for my chosen symbols.
Free Trading Robot Setup
Our free trading robot download which you can get instant access to by completing the form on this page, includes a fully functional trading robot and detailed instructions. It is one of the best free trading robots that you will find anywhere. You can simply attach it to all of the charts that you want it to trade and it will do all of the leg work for you. It can send your alerts when there is a possible trading opportunity for you to consider. It is quick and easy to setup, with step by step instructions that walk you through the process which goes something like this:
- Download the free trading robot
- Get the MetaTrader platform from a broker
- Load the robot onto your charts in the platform
- Choose your desired settings
- Get automated trading signals!
Free Trading Robot Settings
The free trading bot is loaded with all of the most popular technical indicators and candlestick patterns for comprehensive automated market analysis and trading signals. You can set each of the setting to true or false, depending on if you want to use them or not. The possibilities are vast, allowing you to create as many unique automated trading systems as you want. What’s more, the robot is free to use forever, with no limitations! Some of the adjustable features of our free trading robot include:
- Signal Alerts
- Days Filter
- Time Filter
- Moving Average
- Parabolic Sar
- Bollinger Bands
- Average Directional Movement Index (ADX)
- Ichimoku Cloud
- Standard Deviation
- Commodity Channel Index (CCI)
- Stochastic Oscillator
- Relative Strength Index (RSI)
- Moving Average Convergence Divergence (MACD)
- Average True Range (ATR)
- Momentrum Indicator
- Bulls Power and Bears Power
- Force Index
- Oscillator of a Moving Average (OsMA)
- Relative Vigor Index (RVI)
- Williams Percent Range (%R)
- Money Flow Index (MFI)
- Volumes Indicator
- Williams Alligator
- Accelerator Oscillator
- Awesome Oscillator
- Engulfing Bar
- Harami Pattern
- Hang Man Inverted Hammer
- Shooting Star Hammer
- Spinning Top
- Three Inside Up Down
- Evening Morning Star
- Falling Rising 3
- Three Crows Soldiers
- Three Outside
A trading robot uses a built-in algorithm that can analyse the financial markets and enter or exit trades on your behalf. They can also set take profit and stop loss levels, whilst you can set them to send you alerts if you want to still maintain some control over your trading.
Trading robots can be a good way for anyone to trade various markets online without needing to spend countless hours analysing charts and studying for years. However, they all come with different strategies and settings, so it is important to be aware of what to look for when choosing the best trading robot for you.
With so many trading robots to choose from, there is plenty of choice but this can also be overwhelming especially for beginners. Our free trading robot can be a great place for you to start on a demo account in order to familiarise yourself with trading bots and how they work, without taking any risk.