The FXBot EA uses its own built-in oscillator along with other tools (which the developer does not disclose) to assess market fluctuations (volatility, power, speed, and direction). At the right time, it puts on the market an invisible pending order, with which it continues to work in accordance with the trading mode set.
For the use of this robot, it is recommended to use a fast broker with low spreads and low commissions, accurate quotes, and without limitation of the size of the stop loss. All possible time frames can be used with this EA, both for short-term and long-term operations.
Features of Fxbot for MT4
- Protection against the spread.
- Protection against slippage or slippage.
- It works without a grid.
- He doesn’t use Martingale.
- You put a small SL for each trade.
- Aggressive – Pending orders can be moved in order to open a trade.
- Standard – The pending order will be canceled when the market changes direction.
- Only Best – Pending order is canceled when the market changes direction or loses steam.
- Multi-Trading – More operations are allowed in both directions.
- One Plus One – Only one trade in all directions.
- Only One – Only one trade in the market.
- Max Trades – maximum number of open trades.
- Distance – Distance of pending orders from the price.
- Sensitivity – Sensitivity of the indicator. Increased sensitivity = less operations.
- Max Spread – maximum propagation size.
- Max Slippage – maximum slip size.
- Lot – Size of the value.
- Auto Lot – Automatic batch configuration by account balance size.
- Risk – Automatic volume calculation by account size and SL size.
- Placement of SL and TP.
- SLBE – Move SL to the open price.
- Trailing Start – Start following SL on this benefit.
- Trailing Distance – Following SL at this distance.
- Close Order – closes trade after a specified number of seconds.
- Panelypos – The position of the information panel on the y-axis.
- Comment – You can post comments to the trades.
If you are interested in this EA, know that its price is 1,600 USD and that it has a demo version so you can know it and try it before your purchase. Available on the MQL market in the Experts section.
In short, we are talking about an EA that looks like a powerful tool given the features it shows. Feedback from users who have tested this robot is very positive. What we’re missing is an audited real account where we can see the real behavior of the robot. The developer just puts a screenshot of Myfxbook in his MQL showcase, which we can’t tell if it’s data from this robot or not. For this reason, we would refrain from buying this tool, At the very least, before buying a robot, you have to know the historical data in a real account.