DEFINITION of 'Forex Trading Robot'

A computer program based on a set of forex trading signals that helps determine whether to buy or sell a currency pair at any one time. Forex robots are designed to remove the psychological element of trading, which can be detrimental.

BREAKING DOWN 'Forex Trading Robot'

Automated forex day trading robots are available for traders to purchase over the internet. It is important to note that there is no such thing as the "holy grail" of trading systems, whether automated or not. If the automated system being sold was a perfect money maker, the seller would not want to share it. This is why big financial firms keep their "black box" trading programs under lock and key.

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