Free Forex Expert Advisor? : Think About It!

Many forex trading beginners start out looking for a free forex expert advisor that will, they think, make money for them on autopilot without any problem at all. But people who think this way are likely to find their dreams have no substance in reality. The reality of the forex market is that nothing is that easy and anybody trying to cut corners to that extent is likely to come down to earth with a crash.

Sure, you can find a free forex expert advisor: that is, a forex robot developed on the Metatrader 4 platform. Free EAs do exist. But they cost time and money to develop, so it is unlikely that most developers would release a good one for free.

Think about it. There are probably four reasons why a person might develop an expert advisor:

1. The person has a great trading system and they want to automate it so they can make millions. In this case, they are likely to want to keep the resulting EA to themselves.

2. The person has a good trading system, they want to automate it and make money from selling it. This is an EA that you would have to pay for.

3. The person is more interested than developing software than trading. They might create an EA and give it away for free, but it might not be based on a good trading system. This one could lose you a ton of money.

4. The person has something to sell in the forex world. This might be a training course or a upgrade to their free EA. They give you the free EA to draw you in to their sales funnel so that they can keep on emailing you about their services.

So which is likely to be the best? Probably number 4 if you are not able to pay anything at all for your EA. However, this EA will probably not be built from the developer's best system, because he is hoping to sell that to you later.

Another thing to consider is how much support you will get. Forex EAs are notoriously difficult to set up. Somebody who is giving away their software is unlikely to have the time to provide support for it.

Expert advisors are so variable that it may well be true that a good free robot is better than a bad paid robot. But then as you probably know, it is better not to trade at all than to use a bad robot. Clearly, the free forex robots that are available online will probably not be as effective as the best of the robots that you pay for. Since most of these come with a money back guarantee and you can use them in demo mode while you try them out, there is no risk, so why not just go buy one? Anybody who is serious about making money with forex trading would probably not choose a free forex expert advisor.