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EA Builder Review: Algominr

Today I’m providing a review of a new expert advisor building software, that puts strategy creation in the hands of every day traders, Algominr. With the use of a graphic interface, traders can avoid coding, and build a Forex robot using over 130 indicators that’s fully compatible with MT4, or MT5. As simple as these products seem, traders have to keep in mind that building a strategy is very difficult, and requires a lot of experience in the Forex marketplace.

According to the sales page, the developer of the software is a man named Chris, who works as a research assistant at the University of Basel, Switzerland. He just finished it degree in competition all economics and finance, and wants to bring this knowledge to the Forex community. Chris has no previous notable experience in the Forex market, but he can be contacted for more information via


Algominr Review

The goal of the Algominr software is to bring “data science and machine learning to private investors.” One of the most important aspects, is the fact that the software allows traders with no coding knowledge, to build expert advisors. The process is laid out as a simple one, with traders building their strategy using different aspects of hundreds of different indicators, back testing and optimizing that strategy, before finally compiling the robot and importing it into their MT4 platform.

The back testing and optimization part of the process allows traders to test the strategy within seconds. The software will output the equity curves, annualized return, volatility, max drawdown and sharpe-ratio, so that traders can quickly see how their strategy performs on a historical basis. When building an EA, the back testing portion is certainly an important one, but it’s becoming less and less relevant for traders, because the majority of expert advisors in 2018 have started implementing live data which cannot be reproduced in back tests.

With more traders getting interested in automating their personal strategies, there are a few EA builder services coming to the surface, including ForexSB, and Forex Robot Factory.


  • Type: Forex Robot Development
  • Price: $87
  • License: Lifetime Access
  • Bonuses: 137 Indicators, 8 Prediction Methods

In relation to the other strategy building systems I’ve reviewed in the past, the Algominr is the cheapest option available. Whether or not that is a good thing, is really yet to be seen, but hopefully shortly after this review was posted we start to get client feedback from the community. With the software like this, the most important aspect is how seamless the process is. If the software easily creates strategies, and back tests them quickly, then it is viable.

Algominr Strategy

Built with the trader in mind, the Algominr software allows traders to apply artificial intelligence “to your favorite indicators and trading strategies.” Even if you are inexperienced, the developers make note that the software will set the parameters on your behalf, while giving you access to artificial neural networks, support vector machines, decision trees, and logistic regressions. Essentially, the software will automatically align the strategy properly so that it works, based on the chosen indicators, and then traders with more experience can use the visual module to customize the strategy further.

As for the logic, traders can choose between 15 no types, hundred and 20 indicators and a different machine learning techniques which will all contribute to setting the strategy behavior. The software includes many different types of indicators, including momentum, pattern cycle, volume and those based on simple mathematics.

I’m sure a lot of this terminology is coming across as a little bit daunting, as some of it even goes over my head, which is why I prefer putting my trust in automated Forex robots with proven track records. Yet, the vendors are very clear and telling us that the software is easy to use, and that they have full video tutorials that show traders had to set up basic strategy editing, how to utilize their strategy Wizard and set up simple trend following the and scalping strategies to get started.


I’m always interested in expert advisor development, so there’s part of me that wants to test Algominr myself to see if it’s as simple as they claim. Yet, in order to learn a trading software of this magnitude, it will take a lot of time and patience. Even if the system is very easy to use, that doesn’t mean that you are going to have the ability, or foresight to create a long-term winning strategy. In saying that, I’m not challenging you to try and accomplish this, but you should be aware that developing automated strategies is a very difficult task.

About Patrick Ryan

Patrick is a Forex enthusiast, with over 10 years of experience in finance, and market analysis. He's eager to help traders achieve their goals, whether they are short or long-term. Patrick's penned thousands of reviews, and is always available to discuss trading with anyone who's interested.

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