Isn’t it amazing that from just the two variables of price and time, there have been thousands of Forex trading indicators and millions of Forex expert advisors created? These days, literally anyone can develop their own Forex expert advisors from scratch, simply by using the free functionality that Metatrader 4 offers. That’s why you can find a flood of both free and paid Forex robot traders being advertised in the various forums, discussion groups and websites online.
Downloading and using a free FX trading system may seem like a good idea, after all you haven’t paid anything for it, so there’s no risk right? Sadly, when it comes to free Forex robot traders, they are almost guaranteed to cost you a lot more than paid Forex expert advisors in the long run. By the end of this article, you will understand just why you’re much better off forgetting about free Forex robot traders and investing some money into getting a good FX trading system instead.
At first glance, free Forex expert advisors seem like a good way to save a few hundred dollars and still profit from the Forex markets. After all, all Forex expert advisors are the same, right? Wrong. At best, free Forex robot traders are poorly designed and poorly tested. Most of them are just thrown together with a few popular indicators like the moving average, MACD, ADX and RSI, and are hardly tested over any kind of meaningful period. At worst, free Forex robot traders may be a sinister attempt by the developer to lure unsuspecting people into taking the other side of their trades.
The reality is, great Forex expert advisors take a lot of time, money and effort to create. It takes months and even years to perfect a good FX trading system, so it wouldn’t make sense for the developer to go out and give it away. The simple act of allowing other people to trade the Forex robot trader greatly diminishes the quality and effectiveness of the FX trading system, so it would hardly be in the developer’s best interests to give it away. That’s why good Forex expert advisors are sold for premium prices of up to thousands of dollars.
To give you an idea of the amount of resources that real Forex robot trader development and testing involves, the typical FX trading system takes 3 months to develop and another year to test, and will cost anywhere between $50,000 to $200,000. Should the FX trading system turn out not to meet expectations, then the entire project is written off and the development process begins from scratch again. That’s why even with a top notch development team, it can take years and millions of dollars to find an FX trading system that lives up to the necessary requirements.
When you take all these considerations on board, you will realize that it is next to impossible to find free Forex expert advisors that actually work. If you do trade real funds with one of these free Forex robot traders, it is very likely that you will experience severe losses that will cost you far more than an actual paid Forex robot trader would. There’s a good reason for investing in an FX trading system that has gone through a thorough and professional development process, so stop wasting your time and your capital on free Forex robot traders and get a real FX trading system today.