Both the Forex Magic Machine and the IvyBot are Forex trading robots that are otherwise known as Expert Advisors. Both of these Forex trading software run on auto pilot and generate and execute trades even without human intervention. To be able to use any of these, all you need to have is a functional computer and a fast internet connection. You also have the option of adjusting the settings according to the level of risk you want to work with. Both of these robots have been created to run on MQL4 language and are both compatible with the MetaTrader4 platform. Mentioning these similarities, we will also closely look at their differences in the hope of being able to choose which one will generate a better performance in live trading.

IvyBot is known to be able to work with four different currency pairs. All the other Forex trading robots in the market today, including the Forex Magic Machine work with only one currency pair and this is the major currency pair in the market, USD/EUR. The IvyBot has been designed to trade with USD/JPY, USD/CHF, EUR/USD and EUR/JPY. The IvyBot makes use of a complex mathematical algorithm developed by the IvyBot team. Unlike the Forex Magic Machine, the IvyBot is not a scalping system and it trades in an average of several hours ranging from one to under twenty four hours.

On the other hand, the Forex Magic Machine is a Forex trading robot that has been created by developers who both have almost forty years of collective Forex trading expertise. What sets it apart from the other Forex trading robots is its RCTPA or its Reverse Correlated Time and Price Analysis system, this simply allows it to adjust its trades according to the current volatile market trends and conditions. It accurately forecasts how the market will move based on its stored historical market movements data, allowing it to see how the market will trend for the next two to four hours. I am not altogether impressed with the Forex trading robots that allow a greater level of risk. After all, I am after a steady stream of profit that gets big overtime. I would not commit the mistake of having a losing streak just because of ill thought of, aggressive trades. The IvyBot boasts about constant upgrades as opposed to the Forex Magic Machine’s stability when it comes to assessing any type of market you will encounter today. I do not need a Forex trading robot that is yet to develop whatever will work with a market condition that I am now experiencing.

Forex magic machine is really a great tool used mostly by beginners in the forex market. So, do not expect millions of dollars.

Everybody must be aware of the fact that managed forex account is a risky investment, because forex trading in itself can bring both profits and losses.

Hence, we highly recommend to read more about the sphere of forex investment, before you start investing any money on it.