EA FXCE Giga is one of the free tools programmed by the FXCE team. So is this EA useful for traders? And how does this EA work? Let's find out through this article!
What is EA FXCE Giga?
Have you ever wondered what EA is? And why should a trader use an EA? Most people who come into contact with the forex market for the first time will hear about EAs and ask many questions that revolve around this software. There have been a number of articles that introduce the EA in detail. Moreover, these articles also explain why the EA is one of the essential software for traders, you can refer to that article here.
EA Forex or Expert Advisor is an automated trading system on the Forex platform, they are programmed in Metaquotes Language 4 and Metaquotes Language 5 to be usable on MT4 and MT5 platforms. In the current market, there are many types of EAs such as Alfa Scalper, FX Fortnite, Learn2Trade or FXCE Giga, some EAs are free but others have to pay a fee. One of the most effective EAs available nowadays is the EA FXCE Giga. So what is FXCE Giga?
Before diving into the FXCE Giga, we should know about FXCE.
What is FXCE?
FXCE is a social trading platform with the best features for traders to start their journey to becoming professional traders.
FXCE always helps the community by using technology to optimize trading strategies, and this is also a top priority. So FXCE has laid the foundation for funding, technology and expertise from developers at FXCE and around the world.
On the other hand, FXCE builds a proprietary FXCE EA Library System. FXCE’s library was created for communities in the ecosystem to have access to this resource in the long term. This library will synthesize knowledge from effective trading methods and strategies on the forex market.
The EA FXCE Giga is a tool that is designed and developed to enable traders to create an automated trading system (EA) that requires no programming knowledge. Moreover, this FXCE Giga is also a free and high-performing EA that allows traders to download and install it extremely quickly. In particular, the EA FXCE Giga has the ability to operate autonomously and immediately after being installed. Therefore, traders do not need to have any programming knowledge and can still use this tool extremely easily.
It is true that if you want to be able to program the EA as you like, not only must have enough programming knowledge, but you also take a lot of time to build that software, which can take up to 3 or 4 years. But the EA FXCE Giga solves that problem through simple options, and with just basic knowledge of trading, the trader can set up the EA in just a few minutes.
The Features of an EA FXCE Giga
Because the EA FXCE Giga is programmed by the FXCE Dev team to help traders who don't know the code but still set up the EA configuration. So the EA FXCE Giga is simple to operate and highly customizable, traders only have to choose the lists available on the system and set these lists up according to their own strategies. Features of an EA FXCE Giga include:
Entry Tab: Where to set the appropriate options to enter the order.
Volume Tab: Allows the trader to set the methods of calculating the trading volume, as well as the stop loss and take profit levels.
Tab close: Set close orders.
Settings tab: Traders can use this to expand their trading and risk management features.
Action Tab: This section will make it possible for traders to install more complex algorithms according to the parameter option.
Activates EA: Allows the EA from FXCE Giga to start working after completing the setup.
Is the EA FXCE Giga a useful free EA?
Before discussing the advantages of this tool, let's talk about FXCE's EA community on Telegram. With over 1600 members trading EAs, you'll always get valuable help from the best EA programmers and EA Community at FXCE. In addition, contributions to the community will be recognized and there will be rewards worthy of those contributions.
To be able to determine the effectiveness of EA FXCE Giga, we should consider the advantages and disadvantages of this software to see if it is user-friendly and convenient enough as well as whether this software is qualified to meet the different needs of traders.
The benefits that EA FXCE Giga can offer for traders:
This software is definitely free and simple to install.
No need to know codes and not necessarily to understand programming languages, traders only need to have basic knowledge of trading to be able to set up EAs according to their own strategies.
There are hundreds of quality indicators and open-source codes for users to easily access FXCE’s website.
Opportunity to receive investment from FXCE Direct funds with qualified EA trading accounts, when you have established a sustainable EA, and are consistently profitable. As long as the EA created is qualified by the FXCE team, the trader can receive the investment amount for the actual trades and that number will be increased if the EA achieves stability and has a high win rate.
EA FXCE Giga is programmed to be used on MT5 platforms, so it will run extremely efficiently on these platforms.
Having many advantages, the current EA FXCE Giga also has limitations:
This EA is programmed to execute trades continuously, so it will not support pending orders.
Because it does not support pending orders, there will be many limitations in declaring stop loss / take profit according to candlestick signals.
Multi-timeframe execution is a trend and a scalper, or trader, is significantly interested in this factor. But this EA does not support this element.
Nevertheless, the EA FXCE Giga will always be updated by the FXCE team to improve the user experience. In addition, the FXCE team will always resolve EA FXCE Giga issues immediately upon receiving feedback from traders.
Using FXCE Giga, what attractive benefits will traders get?
Unlimited access to abundant EA & indicator resources from FXCE's library:
Traders who often use Indicators for technical analysis will usually collect trading information such as market trends, reasonable entry/exit points, etc. Therefore, FXCE has provided a diverse Indicator library for traders to freely access and combine those Indicators with the EA FXCE Giga to create a strategy that is more suitable for them.
Not only that, FXCE's library will not be limited in the number of Indicators, which means that the Indicators will always be updated regularly from MT5 and FXCE's EA library, so participants do not have to fear spending time searching or programming a brand new Indicator by themselves.
Continuous and enthusiastic support from the FXCE team:
You will get 1 on 1 support from the FXCE team to create your own EA and ask FXCE to create a separate Indicator so as to integrate into the EA. Besides, FXCE always has seminars or Livestreams for participants to update more information and ask questions directly to better understand EA FXCE Giga.
EA FXCE Giga is not only free but also an effective EA generator on the current Forex market. In addition, when users are utilising Giga and have questions or encounter any problems, traders can completely ask for help from FXCE's support team or join the FXCE-EA group to receive advice from everyone.
With rich and detailed resources from the EA Giga library and the EA Giga Course, traders can quickly understand and fully explore all the elements related to the EA FXCE Giga. From that, users completely set up this software for their own transactions.