Best Easy Forex Builder Alternatives

EasyForex Builder (EFB) A no-code online tool for building automated forex trading strategies.

Once a strategy is built into this software, it can be exported to metalladder or forex tester for backtesting and live trading.

I reviewed EFB when it first came out and was not impressed.

It was clunky that I couldn’t create a complex trading strategy and had to export the strategy from the EFB, import it into Metatrader, then backtested.

Therefore, if you reach the same conclusion as me about EFB, there are several options that can make the strategy building process much easier.

We offer both free and paid options.

But I’ll tell you now… when it comes to this type of software, there are very limited free options so you’d be better off paying.

Conclusion

If you want a summary of the details below, here is my choice Best Free and Paid Alternatives for Easy Forex Builder.

I only checked the no-code solution so that I could compare apples to apples.

If you purchase something through one of our site’s links, you may win an affiliate committee.

Paid Forex Builder Alternatives

If you want more details, here are all the options worth mentioning, along with their advantages and disadvantages.

Start with paid alternatives.

NakedMarkets (Best EasyForex Builder Alternative)

This is a much better option.

I have been using Nakedmarkets since its launch, but it’s an innovative product when it comes to creating automated trading strategies without coding.

Key Benefits of Naked Market It means you can create more complex trading strategies than any of the other options on this list, and it has excellent analysis.

As an example, here is how I created it Fully automated Bollinger Band trading strategy With a naked market.

https://www.youtube.com/watch?v=y6fyw38acj4

Here’s a breakdown of how it compares to Easy Forex Builder.

Comparison of benefits

• You can create much more complex trading strategies
• Software backtesting and optimization strategies, no export/import required
• There is no one-time cost or monthly subscription fee
• Great analysis tools
• The strategy creation and backtest workflow is much easier
• Monte Carlo Simulation

Comparison of drawbacks

• You can’t export your strategy to Metatrader EA format yet, but they’re working on it
• It requires Windows, not browser-based

EA Builder

I purchased a license EA Builder A while ago, but I didn’t do much with it.

This is a simple EA I built with this software.

The main issue I had with this product was the same as the one I had with Easy Forex Builder.

This website was easy enough to use, but I was unable to create complex trading strategies with this software.

When comparing this product to Easy Forex Builder, they are pretty similar, except for the fact that EA Builder has a one-time fee.

So this is a better solution than a simple forex builder, but not as good as a bare market.

Comparison of benefits

• One-time fee
• Create custom indicators and EAS for MT4/MT5
• Create indicators and EAS alerts for MT4/MT5
• Easy to use interface
• Create technical analysis tools for trading
• Browser-based

Comparison of drawbacks

• The workflow is a bit clunky as you need to export/import everything to test
• You cannot create complex strategies

EA Builder Pro

I’m not sure if this product is related to the above product, but the name is very similar.

But that’s where the similarity ends.

EA Builder Pro It is a browser-based platform that allows users to build Expert Advisors (EAS) for Metalladder 4 and MetaTrader 5 without having to code their knowledge.

It provides a user-friendly interface with drag and drop functionality, allowing you to create custom indicators, trade signals and strategy modules.

Users can also manage risk through a variety of financial management tools and run cloud-based backtests to assess their strategies.

I found the platform easier to use than a simple Forex builder. It’s great to be able to backtest on the platform.

However, it is impossible to trust the results as we don’t know where the backtest data came from.

But it’s a good “quick and dirty” check.

The EAS still needs to be exported in metalladder and backtested completely.

One thing I really find surprising about this platform is what it offers Martingale As a money management option.

literally Not anyone You should use Martingale Trade Control.

So this may be the case for trading products that are created by people who are good developers but not traders.

But that’s a relatively minor point.

The biggest advantage of this platform is that it offers more indicator options than Easy Forex Builder.

Comparison of benefits

• You can run backtests directly on the website
• Browser-based
• Easier to use than EFB
• Better logic and more indicators than EFB
• Create EAs and indicators for MT4 and MT5

Comparison of drawbacks

• Monthly subscription fee
• Can’t download source code with free plan

fxdreema

fxdreema It’s an interesting product because it solves no code buildings in a very different way than the other solutions on this list.

First of all, users can construct each event in a metalladder program using a separate visual interface.

If you don’t know what each event is doing, you have to read.

However, once you understand what each event does, the logic you can add to each event is extensive.

Comparison of benefits

• Limited free version to try
• Enables the creation of complex strategic logic
• The workflow is more in line with the metatrader program’s workings
• You can pay with encryption
• Export to MT4/MT5
• Browser-based

Comparison of drawbacks

• The instructions are not clear, it takes time to learn the platform
• The website design was very 1999
• Monthly subscription fee

Forex Robot Factory

This is an interesting product, but I don’t know how beneficial this will be for most traders.

Forex Robot Factory Automatically generate random trading strategies and backtest them.

Once you find some strategies that work well, you can drill down into them to optimize each one.

The goal is to build a portfolio of automated trading strategies Quickso you diversify your risks.

On the one hand, you can see where it is beneficial to have the system give you some ideas about strategies that you may not have thought of yourself.

There is also a great analysis, and in fact it is quite rare among traded products, and is great to see.

But as a trader, I don’t like to have much control over the strategy creation process.

It also has the potential to have a limited number of strategies that the system can create, and everyone on the platform may acquire very similar strategies.

When you look at optimizations, they are very basic, and although this is probably a better solution than Easy Forex Builder, it’s not ideal.

This platform can be useful if you want to sign up for a month or two and provide some ideas about trading strategies that can be further refined by putting your system in something like naked markets.

Otherwise, I don’t feel this is a useful EA creation platform as this prioritizes quantity over quality.

Comparison of benefits

• Solid State Analysis
• Backtests conducted on the website
• Ability to simultaneously compare results from different strategies
• Monte Carlo Simulation
• Correlation analysis
• Test forward
• Export to MT4/MT5
• Browser-based

Comparison of drawbacks

• Optimization is basic
• Generates random strategies with little user input
• Very basic optimization options
• Monthly subscription fee
• expensive

Free Forex Builder Alternatives for Free

This is truly a free alternative to EFB.

In fact, free solutions are very basic, so you really need to pay for this type of software.

However, if you want to get the feel to create an EA and then backtest it after installing it on MetAtrader, it’s the perfect place to start.

Forex MQL4 Expert Advisor Generator

Forex Advisor It’s an interesting solution as you don’t need to set up a profile or log in.

Visit the site, build the EA and then export it.

Upload your EA to Metatrader and backtest it.

Here’s how to stack it into a simple forex builder:

Comparison of benefits

• It’s completely free, you don’t even have to create an account
• easy to use
• You can create some simple trading strategies

Comparison of drawbacks

• You cannot create more complex trading strategies
• The number of indicators available is very limited

Easy Forex Builder Review

I’ve done a complete review of the platform here, and here’s a quick review of the advantages and disadvantages of the software:

Benefits of Easy Forex Builder

• Easily create basic EAS for MT4 and FT4
• You can download the source code for EA and edit it manually in the Metatrader editor
• Create templates, EAs, and indicators
• Workflows are easy to understand and use
• This tool can be used to build EAs and indicators that can be sold

The disadvantages of Easy Forex Builder

• I’d like to see support for EA and indicator builder candlestick patterns
• The EA I created has a bug there because if you run two transactions per signal, you only need to do one
• Building indicators is difficult. Could not create an indicator that I found remotely useful
• The download process definitely doesn’t work. Sometimes you need to download EA twice.
• Creating complex trading strategies is difficult
• Free plans are very limited, you really need to sign up for paid plans

So overall, this is not the best platform for creating automated trading strategies.

However, if you want to create a simple EAS and learn how the process works, this can be a great starter platform.

Final Thoughts

So these are the best options if you’re looking for an alternative, backtesting software. Easy Forex Builder.

Based on product use, this list does not have the same advantages as alternatives.

However, they are sure they will add new features in the future, so I look forward to seeing what they came up with.

Keep in mind that technology can change quickly. So my analysis is based on the information available at the time this was written.