The steps you need to follow for opening an auto trade mini forex account are quite simple. First you have to select a brokerage firm that is offering their services to open an auto trade mini forex account. Fill in some personal details like your name, address, contact number, e-mail address, and the specific type of account you like to open. After filling in this online query form, you can directly open your mini account. Many agencies now accept $50 to open an auto trade forex mini account, but in an extremely volatile market as forex and because of high leverage, it is better to invest at least $2000.

There are quite a few advantages of an auto trade mini forex account. The mini accounts are perfectly suited for those who are new to the forex market. The mini accounts trade in smaller contract sizes, which gives the traders the opportunity to trade with less risk or exposure to the market. This smaller trade size also helps the trader to build confidence. As the trading is completely automated, you can experiment with the features of the trading platform and judge the efficiency of the system.

As the pip value on any mini account is just $1 per pip, you can develop a disciplined trading strategy while handling an auto mini forex account. Moreover, you learn to overcome your tendency of emotional trading, which, at times, leads to irrational trading decisions. You also learn to limit losses and decide your entry and exit points.

Auto trade mini forex account gives you more staying power in the market. This enables you to take advantages of multiple opportunities without over-leveraging your account. Most of the auto mini forex account provides user-friendly trading software. It has all the interactive and useful features of a standard rapid execution from live, streaming prices.

In some currency pairs like EUR/USD etc., a one-pip movement in the exchange rate is equal to a one dollar gain or loss in the account value per lot. Usually the auto trade mini forex account offers a spread of 3 or 5 pips on most currencies. So, open an auto mini forex account to master the art of trading before venturing into the market with high volume of investment.

There are a myriad of forex trading robots on the market, that claim to have undergone a series of extensive tests which have produced satisfactory results therefore they are marketed as absolutely effective in producing consistent profits. But which are the Top Forex Robots?

The answer is not that straight-forward. The most important factor to consider here should be the main difference between the manual versus automated trading systems.

The most attractive option therefore, for the amateur forex trader, is to trade with automated forex robots. However, when choosing the Top Forex Robots for your use, it is imperative to think about how to best maximise your trading profits.

The most prudent (but possibly not the most effective) way to ensure that you choose the Top Forex Robots is to actually buy these products, make sure you understand how to install them and optimise their settings for your chosen trading platform (for example Metatrader) and to do extensive back and forward testing on various settings for the various currency pairs.

This process appears to be simple. However, it is costly, extremely time consuming and possibly do not provide the desired level of comfort as the user is always inevitably drawn to (and biased towards) a specific product, principally as a result of the promises made and sales pitch of the creators.

Possibly the most effective way to assess which are the Top Forex Robots is to visit and subscribe to reputable websites where the Top Forex Robots are reviewed, extensively tested, and detailed comparisons between the various forex robots made and regular updates provided.

The benefits of this approach is a significant saving in costs, (someone else doing the research and comparisons on your behalf saving you lots of time and effort) and also you are always abreast of the latest developments in forex robots.

There are top 5 forex trading robots:

1. FAP TurboFap Turbo took the industry by storm when it was released on 25 November 2008. The creators of Fap Turbo promised to deliver the most advanced Forex trading robot there has ever been on the market and so far they have not dissapointed the thousands of traders that were eagerly waiting for the launch. The reason why Fap Turbo is so popular is the fact that it offers a system that is more profitable and safer than the famous Forex Autopilot.That is exactly what the market wanted.

Instead of using backtesting reports to proof how profitable their system is (like everyone else does), the Fap Turbo creators have so much faith in their product that they publish real time statements of their own live accounts on the Fap Turbo homepage for everyone to see.

Another thing that is very unique about Fap Turbo is the long term commitment of the developers and owners of the system. Fap Turbo is definitely not a product that will just dissapear.. it is here for the long run and the creators are very committed to help every one of their users make money in the future

2. Forex MegadroidForex Megadroid was launched by Albert Perrie and John Grace on 31 March 2009 and the buzz around this product launch was almost as big as the Fap Turbo launch last year. According to the creators, Forex Megadroid uses a new technique called Reverse Correlated Price and Time Analysis which they guarantee that for every dollar you deposit into your Forex account will be at least quadrupled.

Another unique feature about Forex Megadroid is the built in broker protection feature. There is a widespread belief that most Metatrader brokers trade against their clients and that, coupled together with things like high spreads, offquote errors and slippage, it has become very extremely difficult for a trading robot to consistently make a profit. Forex Megadroid is the first robot ever to be released with a broker protection or anti-broker mechanism.

3. Forex AutopilotForex Autopilot was one of the first commercial Forex Trading Robots to come onto the scene and it was by far the most popular product on the market before the launch of Fap Turbo. This forex robot uses various different indicators to identify trends on the EUR/USD currency and the result is an extremely accurate system that has a success rate of more than 90%. One of the big problems with Forex Autopilot is the fact that trades can sometimes go into large drawdowns of up to 500 pips and more. This does not happen often, but it does happen.

4. Forex FunnelForex Funnel is another automated Forex trading system like Fap Turbo, but with one major difference – it uses a much more high risk/high reward approach to trading. Forex Funnel uses a varient of a famous gambling strategy called the Martingale principle in it’s trading approach.

When used in Forex trading, the strategy effectively has a 100% success rate, meaning there are no lost trades, but there is also the risk of losing your whole account on one trade if you don’t have enough capital to work with.

5. Pips LeaderThe Pips Leader Forex robot is not as well known as the other products on this list.The Pips Leader robot uses a “basket trading” strategy, which can be extremely profitable and low risk if you understand the margin requirements and enforce strict money management rules. The core of the Pips Leader system relies a lot on hedging, so make sure that you select a broker that allows hedging before opening a live account.

Pips Leader can have up to 30 open trades at any given time and the key to success with this system is to understand the margin requirements.

For forex professional system trading, you need to register for some trading platforms either by paying a subscription or for free. You may be offered the facility of auto-trading, leverage in a base currency, reversal of positions without closing, no margin calls, competitive spreads for all your trades, round the clock support during trading hours, trading over the phone, etc.

Forex professional system trading may provide you online tutorials and study materials like e-books, audio and video tutorials, 2D and 3D charts, for developing your trading strategies. Ideally the system should support execution with electronic communications network (ECN) mode with almost instantaneous execution.

You should be able to trade instantly on live, multibank prices without any requotes. This ensures that you enjoy the spread that has been offered by the forex professional trading system. You may also find a system that offers zero spread for some major currency pairs.

In forex professional system trading the system can never trade against your orders, as it is purely mechanical and software driven. You should have the ability to act as a market maker and earn the spread. The trading system should offer the option to trade inside the spread by entering your own bids and offers. The system must display real-time quotes and bids

As a forex professional engaged in system trading, you should be equipped with free charts and news feed from the market. The forex system should provide signals that you can use for your trading.

Online or offline experts may help you in customizing your trading needs and in fine-tuning your strategies. It may offer integration with data feeds, order routings, customized visual style with default settings and layouts, additional reports, margin calculations, etc.

Forex professional system trading should be backed with support activities including migration from existing trading platform, trading server hosting and administration when you can act as a professional trader and service provider.

The trading system should be simple, easy-to-understand, and easy-to-use. You must remember that it is important to identify the trend and to join the trend with precise timing. Forex professional system trading should exactly do this and must help you to enter in the trend just when the time is right. This way you will maximize your wins, minimize your losses, and increase your profit.

1. Automatic mode – One of the most important features of a forex platform is that you can put your business on autopilot mode through it. All you have to do is set your parameters and the rest is history. Your forex platform should mainly be able to help you save up on time and effort so you can also attend to other important things which you needed to accomplish.

2. Reports on strategy performance – Your forex platform must be a very detailed system. It should be able to track how your chosen trading system performs. One of the most important things that you can gain out of the said platform is that it lets you understand if your strategies are working and if they are directly causing the gains and even the losses which you are experiencing. Some even end up giving you charts complete with their specific analysis on how you have been playing in the market.

3. Number of trading accounts – As you may be aware of, the forex business is very dynamic. It is not enough to settle for just one account alone. It would be best to have as much as possible so that you can cover all of your options. Your foreign exchange trading platform must be able to give you access to many different accounts so you can easily use these to place your trading business strategies. Sometimes the success of your business may actually depend on the accounts you have and their effectiveness in the market.

4. Competitive and stable spreads – Forex spreads are important as they scan the crowd for you. They are key competitive tools to identifying just how much business you can make within a specific market. Spreads also allow you to be able to utilize different types of trading strategies. The good thing about forex spreads is that they can be used as baits for you to identify highly profitable businesses.

5. Data streaming – Your foreign exchange trading platform should be able to give you access not just to outgoing data but to incoming data as well. Data streaming is important so that you can continuously learn the business and eventually your own specific market. It is also important to note what the speed of your data streaming is so you can be sure that you are getting all the updated info especially during critical trading periods. Data streaming should also have an automated feature.