How much does a forex robot cost?

1. MetaTrader Online Market https://www.mql5.com/en/market

For MetaTrader users, the mql5 market is the safest place I know where you can buy a forex robot from.

There are simple forex trading robots that cost as low as $100 and there are more advanced forex robots that execute complex strategies but cost as high as $600 and beyond.

Before you buy a forex robot, you should read reviews about the particular robot to know if others agree that it is good.

You should also read the overview of the robot to know the minimum requirements for its use such as forex broker, account type, MT4 or MT5 compatibility, trading strategy to be used, support you will be getting etc.

2. cTrader Online Market https://ctrader.com/bots

If you are a cTrader user, you can also buy your forex robot from the cTrader online markets and some of the robots are free, some cost as low as $60, while some cost as much as $1,000. However, the cTrader market doesn't give you as much information and user reviews about the cBot as you will get on the MetaTrader market.

3. Pay an expert to build one for you

You can also pay app developers found on remote working sites like Upwork to build you a forex robot but they charge around $500 and even higher.

A forex robot costs anywhere from $50 to as much as $2,500 depending on its features but I don't recommend buying cheap robots because you can actually build them yourself using capitalise.ai.

Today, some forex brokers like FXCM, Forex.com & Eightcap, offer capitalise.ai which is a platform for building forex robots using English language instead of complex programming languages so you can try it out.

Stay away from people selling you forex bots. Why would anyone sell you a trading bot if they have a profitable strategy, why don't they just make money themselves from the market?

In MT4 & MT5, forex bots are Expert advisors. If you have an edge that could make you consistent returns, why would you package it & sell it? You can fund your own trading account & trade with it.

And if you checked, all these bots try to sell for trending instruments, for example currently XAUUSD.

I just looked at it, and most bot sellers on MT5's marketplace are selling bots for trading Gold. For such a liquid instrument, if you have a strategy that make 30+ percentage per year, why would you not trade it, instead of selling it?

I view this with high skepticism. It is a scam.

How about I build a bot for myself? I think building a bot is better than buying from someone who might be a scammer.

Yes, you can build your own trading bot to execute your trading strategy. If you are using MetaTrader you can code your EA.

But I'll come again to the starting point, what is your underlying strategy. The EA will only execute that strategy, but if the strategy is not profitable after paying the brokerage costs, then the bot will not automatically make you money.

So, first you have to find a repeatable consistent pattern that you want to automate. What is it? Does it have an edge?