Best Automated Trading Platforms in February 2024

With the majority of trading volume now automated, it makes sense that automated trading has become increasingly popular as a way to facilitate more efficient trading. But of course, not any platform will do; only the best automated trading platform will ensure profitable investment decisions.

So, here we are, with this guide to help you find some of the best automated trading platforms and everything you need to know about them to begin your successful trading journey. Let’s get started.

14 Best Automated Trading Platforms Complete List

Automated trading uses programmed instructions for automatic execution, allowing full trade automation through specialized platforms.

With the global algorithmic trading market expected to grow to 1,04,971.2 million by 2030, there has been a proliferation of automated trading platforms, each with its own features, capabilities, and drawbacks. So, we have prepared this list of the best automated trading software 2023 for you to choose the one that best suits your needs.

  1. Dash2Trade – New automated trading platform with crypto bots and strategy development tools.
  2. Learn2Trade – Top automated trading platform and the best platform for learning automated trading.
  3. Pionex – Automated crypto trading platform offers AI trading strategies
  4. SMARD – Access risk-management tools with this automated cryptot trading tool.
  5. XTBPopular automated trading platform with low fees
  6. AvaTrade – A top choice for forex automated trading.
  7. Pepperstone – Popular trading platform with low fees and a demo account
  8. Plus500 – Recognized throughout the world for its low fees in automated trading.
  9. MetaTrader 4 & 5 – Renowned as one of the best MetaTrader automated trading platforms.
  10. Fidelity Go – Top-most robo-advisor for automated trading and investment management.
  11. CMC Markets – Most preferred platform for CFD automated trading.
  12. TradeStation – Ideal automated trading platform for professional traders.
  13. FP Markets – Popular automated trading platform for diverse asset classes. 
  14. Admirals – Trading platform with MT5 integration for automated trading.

Best Automated Trading Platforms Reviewed

Now, we’ll take a deep dive into these top auto trading platforms and see what makes them stand out and where they are lacking. 

1. Dash2Trade: Best Overall Automated Trading Platform in 2024

Dash2Trade is a new crypto trading and analysis platform from the team behind Learn2Trade – which took the 2nd spot on this list. This is a group of traders that knows how to make outstanding, trader-centric tools.

Dash2Trade offers 2 crypto trading bots, which you can use to trade more than 400 tokens across 6 centralized crypto exchanges. The bots offer trading based on either a dollar-cost averaging (DCA) or grid trading strategy.

Dash2Trade Homepage

Dash2Trade plans to roll out additional trading bots over the coming months. In addition, the platform is building a tool to enable traders to build, backtest, and deploy crypto trading bots based on fully custom strategies.

This is a big development that will enable traders to put their strategies on full auto-pilot.

Dash2Trade also offers a ton of crypto market analysis features that include automations. For example, the platform offers social media sentiment analysis, and it automatically calls attention to trending tokens that could be about to explode.

It also uses AI to track technical indicators like moving averages and RSI. Based on these indicators, Dash2Trade rates each token as bullish or bearish over multiple time periods.

Dash2Trade offers a limited free plan, and full access starts at only $102 per year when you pay with the project’s native $D2T token. There’s no additional fee to trade with Dash2Trade bots.

Pros pros

  • DCA and grid trading bots available
  • Soon to roll out custom strategy trading bots
  • Social media analysis identifies trending tokens
  • Automated technical signals analysis
  • Discounted pricing for D2T token holders

Cons cons

  • Only supports crypto trading
  • Many auto-trading features have yet to be rolled out

2. Learn2Trade: Top Automated Trading Platform for Beginners

Learn2Trade specializes in trading signals for traders, primarily in forex and cryptocurrencies. 

It offers guidance on buying and selling assets with an entry price to execute the position. Additionally, Learn2Trade’s subscription plans include both a free option and a premium plan, under which real-time signals are delivered through its Telegram channel. 

Home page of Learn2Trade Forex Signals

Learn2Trade further has a comprehensive MAM account service that allows traders to invest directly with an analyst who executes trades on their behalf. Most recently, the platform launched copy trading services under which its algo automatically opens and closes trades. The monthly subscriptions for this service begin at £58 and offer you up to 40 trades per month.

The FCA-regulated platform has a vast amount of useful educational resources suitable for traders of all skill levels. And in case of any issues, Learn2Trade can be reached via email and phone.

Pros pros

  • Real-time alerts
  • Great educational material
  • Access to VIP telegram group
  • Cryptocurrency trading signals
  • Money-back promise

Cons cons

  • Signals via Telegram only
  • No email or text alerts

3. Pionex – Start Trading 300+ Cryptos with an Auto Trading Bot

With over 100,000 users spanning across 100+ countries, Pionex has emerged as one of the best auto-trading cryptocurrency platforms. Pionex lets investors access spot trading in more than 370 countries and also supports margin trading. 

Having conducted more than 100 million trades, Pionex averages a monthly trading volume of more than $50 billion. With the auto trading feature, investors can select from 16 in-built trading bots. 

Pionex home

For example, the ‘Grid Trading Bot’ automatically scans the markets 24/7, looking to invest at a low price, and cash out after making a profit. Other options include the ‘Rebalancing Bot’ – allowing users to create their customized trading index. 

On Pionex, one can also generate automated trading strategies with ‘PionexGPT’ – created leveraging artificial intelligence. Investors can also stake their holdings to generate passive income with Pionex. 

This crypto platform supports deposits in crypto and fiat payment methods such as VISA, Mastercard, Apple Pay, and bank transfers. The trading fee on Pionex starts at just 0.05% per transaction. The price drops further as your trading volume increases. 

Pros pros

  • Automated trading crypto bot
  • Access AI-generated trading strategies
  • Trade 370+ cryptos
  • Multiple payment options

Cons cons

  • Better suited for advanced traders

4. SMARD – Automated Trading Crypto Tool Connected with Major Crypto Exchanges 

SMARD is yet another automated cryptocurrency trading tool on our list. Aiming to generate maximum results for investors, SMARD claims to offer an average monthly return of 5%. 

Moreover, the platform also states that it will overtake Bitcoin (BTC) and Ethereum’s (ETH) performance in the long term. SMARD uses trading strategies such as the Momentum Effect to help increase trading performance. Therefore, it will try to systematically identify new market winners. 

SMARD home

To execute trades, SMARD works with some of the best crypto exchanges, such as Binance and OKX. In the future, it will be compatible with Kraken, Bitget, Bybit, and other big platforms. SMARD also integrates regular stop loss and trailing stops to ensure proper risk-management measures. 

By controlling the risk per trade, SMARD can flexibly manage the size of each position. Investors can purchase a subscription for just $1 per month. SMARD does levy a 10% service fee – only applied to profits. 

Deposits can be made using crypto tokens and credit cards. 

Pros pros

  • Claims to offer 5% monthly returns on cryptos
  • Connects with major crypto exchanges
  • Uses risk-management tools and trading strategies
  • $1 monthly subscription

Cons cons

  • 10% service fee levied on all profits 

5. XTB: Popular Automated Trading Platform With Low Fees

XTB is next on our list of the best automated trading platforms, with an extensive range of trading options and a massive market reach.

With a low minimum investment threshold of just $10 and 0% commission on stocks and ETFs, XTB makes investing accessible and cost-effective.

XTB offers an Automated Trading System (ATS) specifically designed for algorithmic trading of CFDs. Traders with programming skills can develop their trading strategies and connect them to XTB’s trading system using an API.

The system uses computer programs that follow predefined mathematical instructions to automate trading decisions. This includes analyzing market trends and executing trades based on set criteria.

XTB review

The ATS offers several advantages, such as emotion-free trading, increased efficiency, and improved risk management. It enables quick, consistent trade execution and backtest strategies using historical data.

Automated trading with XTB allows for the simultaneous use of multiple strategies across different markets or CFD instruments. This includes integrated risk management measures like stop-loss orders and profit targets.

The broker provides a free demo account, an extensive video library, and a Trading Academy, making it an ideal platform for beginners to learn and practice trading.

Pros pros

  • Low $10 minimum investment.
  • 0% commission on stocks, ETFs.
  • Advanced Automated Trading System (ATS).
  • Extensive market reach and diverse CFD options.

Cons cons

  • Some beginners may find it difficult.

6. AvaTrade: A Top Choice for Forex Automated Trading

Known for its user-friendly interface, AvaTrade offers automated trading through AvaOptions and MetaTrader 4.

AvaTrade Home Page

Traders can use this automated stock trading platform to trade cryptocurrencies, stocks, and more. If one doesn’t want to use the online platform, they can also use it as an MT4 broker to place automated trades, which place orders on your behalf at any point in time. Additionally, traders can backtest their strategies using real market data and utilize their demo account to test the waters first.

In addition, AvaTrade features the DupliTrade automated platform, where you can follow the most experienced traders’ positions. This is complemented by access to a range of built-in trading tools and indicators, along with educational resources, including webinars, video tutorials, and trading guides to enhance your trading efficiency. As for customer support, it is available via phone, email, fax, or chat in various languages.

Pros pros

  • EA trading bots
  • Free transactions
  • Different account types
  • Excellent educational offerings
  • Mobile & Desktop compatible AvaOptions

Cons cons

  • High monthly inactivity fee
  • Limited asset offerings

7. Pepperstone – Popular Trading Platform With Low Fees And A Demo Account

Pepperstone is a popular trading platform with low trading fees, a comprehensive mobile trading app, and strong regulatory compliance. It appeals to both beginners and experienced traders.

The platform offers mobile applications for automated trading on MT4, MT5, and cTrader for Android and iOS devices. 

These apps feature a user-friendly interface and advanced trading functionalities like technical analysis tools and market sentiment analysis.

Traders can access diverse assets, including commodities, global indices, and individual stocks from major markets like the UK, US, and Australia.

Pepperstone review

The broker offers two main account types: the Standard Account, providing commission-free trading with spreads from 0.7 pips on key forex pairs, and the Razor Account, ideal for high-volume traders, offering spreads as low as 0.0 pips on major pairs with a fixed commission.

It offers high leverage limits up to 1:2. Additionally, Pepperstone provides traders with educational resources and analysis materials to improve their skills.

Pepperstone also provides a demo account with $50,000 in virtual funds and supports various payment methods for convenient transactions. 

The broker is also regulated by prominent authorities like the FCA and ASIC and uses segregated bank accounts for client funds.

Pros pros

  • Low trading fees, competitive spreads.
  • Comprehensive mobile app for automated trading.
  • Diverse asset range, including commodities and indices.
  • Strong regulatory compliance, client fund security.

Cons cons

  • Limited research tools compared to competitors.

8. Plus500: Recognized Throughout the World for its Low Fees in Automated Trading

Plus500 is an automated trading platform that gives you access to 2800+ CFD contracts and is known for its mobile experience. 

The platform provides commission-free trading, where you only pay the spread on each transaction, and a free lifetime demo account to familiarize yourself with the platform, enhancing its appeal among traders. Besides spreads, Plus500 also charges a commission for overnight funding, a currency conversion fee, and an inactivity fee.

Plus500 Automated Trading Homepage

As a regulated entity listed on a stock exchange, Plus500 upholds stringent financial standards, ensuring a secure online trading experience. Complementing this, the platform provides real-time trading tools to identify profitable trades as well as risk management tools such as trailing stop orders and guaranteed stop orders.

However, while Plus500 excels in certain areas, it does have some limitations. For instance, direct stock trading is not available, and the platform offers fewer educational resources compared to others. Nonetheless, its customer service is reliable and available 24/7 to support traders.

Pros pros

  • Zero commissions
  • Commission-free trading
  • User-friendly platform
  • Insights trading tool 
  • Tight spreads

Cons cons

  • Trading through CFDs only
  • Inactivity fees

9. MetaTrader 4 & 5: Renowned as One of the Best MetaTrader Automated Trading Platforms

Developed by MetaQuotes, this electronic trading platform is popularly used as a convenient tool by retail traders. 

MT4 is one of the popular automated trading platforms for forex traders that offers advanced charting tools and customizable indicators. Trading algorithms are known as Expert Advisors (EAs) on MT4, which are programs that monitor financial markets and make trades automatically based on the preset parameters.

MetaTrader 4 Home Page For experienced traders, there’s the flexibility to customize their EAs and conduct backtests using the Strategy Tester. Meanwhile, beginners have the option to select from several EAs available on the MetaTrader Marketplace.

Following the success of MT4, the latest and more advanced edition, MT5, has been introduced. This newer version supports CFDs across various categories, including stocks, indices, and more. It also comes pre-loaded with technical indicators, charting tools, pricing screens, and more risk management tools. 

The automated trading platform offers mirror trading functionality, allowing users to replicate the buy and sell positions of chosen traders. It should be noted, however, that this feature involves a subscription fee, which varies depending on the trader you choose to copy.

Pros pros

  • Easy to navigate
  • Fast execution
  • Wide assets support 
  • Testing ability
  • Huge community

Cons cons

  • Limited tools
  • Difficult for beginners

10. Fidelity Go: Top-most Robo-advisor For Automated trading and Investment Management

The robo-advisor from online broker Fidelity Investments allows you to choose from long-term goals and then help you achieve them through taxable and IRA accounts. 

At Fidelity Go, automatic trades are placed across several risk levels, simplifying portfolio alignment with your tolerance. While portfolios are well diversified, the platform doesn’t offer a specialty portfolio. In addition, there is no minimum amount to open an account with Fidelity Go, but to start investing, you will need $10 in your account.

Fidelity Go Home Page

Fidelity Go does not levy fees on accounts under $25,000 but does apply an annual fee of 0.35% for account balances above that, which also includes access to a financial advisor for professional help. Additionally, the platform does not charge annual or inactivity fees and conducts annual reviews of the chosen investment strategy to ensure its effectiveness.

It also offers a demo account and has live chat, email, and phone options for customer support.

Pros pros

  • Demo account
  • Low fees
  • Integration with other Fidelity accounts
  • Low minimum requirement
  • Multiple account options

Cons cons

  • No tax-loss harvesting features
  • Only over $25K accounts get access to human advisors

11. CMC Markets: Most Preferred Platform for CFD Automated Trading

This platform stands out as a viable option for CFD automated trading with several account options available, including a demo account, CFD account, spread betting account, FX active account, professional account, and corporate account.

CMC Markets Home Page

Adding to its credibility, CMC Markets is an LSE-listed and FCA-regulated broker with 12,000+ assets for spread betting and features fully automated execution, allowing users to manage their activities easily. Meanwhile, the availability of the MT4 platform on desktop, tablet, and mobile makes it suitable for different types of traders.

When it comes to fees, CMC Markets generally has low fees with no charges for brokerage, account opening, deposits, or withdrawals, though an inactive fee of £10 is enforced after a year of no activity. The platform also doesn’t have a minimum deposit requirement and hosts numerous learning resources to help with its users’ trading journeys. 

Pros pros

  • Wide range of offerings
  • No minimum deposit requirement
  • Excellent automated trading features
  • MT4 platform for professional traders
  • Client account protection

Cons cons

  • High CFD spreads
  • Third-party platforms only limited to MT4

12. TradeStation: Ideal Automated Trading Platform for Professional Traders

TradeStation is a popular choice among experienced traders for its powerful automated platform, analysis tools, and low fees, offering access to trade equities, ETFs, options, futures, mutual funds, and cryptocurrencies.

TradeStation Home Page

For algo trading, TradeStation uses proprietary programming EasyLanguage that is user-friendly and approachable to create powerful and intricate custom algorithms without needing extensive coding knowledge. 

To further support traders, TradeStation also offers backtesting to assess performance prior to execution, along with its strategy trading stress testing tool, the Walk Forward Optimizer, which provides a report. And for non-technical traders, the platform offers the advantage of utilizing pre-built strategy components.

For advanced traders, TradeStation also has scanning tools to place complex trade orders, while new traders will get appropriate help from its YouCanTrade educational resource. The platform further offers some great personalised charting functionalities with a built-in automated technical analysis tool, including real-time data and numerous indicators. 

Pros pros

  • Low trading fees
  • Advanced order types
  • Robust simulated environment
  • Fast & reliable order execution
  • Different account types for various traders

Cons cons

  • Steep learning curve
  • Slow customer support

13. FP Markets: Best Automated Trading Platform for Diverse Asset Classes

FP Markets, an Australian CFD broker, allows you access to stocks, forex, indices, commodities, metals, bonds, and crypto. It supports advanced trading through MetaTrader 4 (MT4) & MetaTrader 5 (MT5) with the Autochartist tool as well as IRESS. And through its copy trading feature, you can follow and copy top-performing traders.

FP Markets

It also offers Superior Virtual Private Servers (VPS) solutions for scalping, auto-trading, and Expert Advisors (EAs). FP Market’s latest feature, cTrader, further enhances its technological offerings by providing a premium charting solution for professional traders.

Adding to its comprehensive suite of services, the automated trading platform offers educational tools in the form of demo accounts and e-books, while customer support is available in multiple languages. As for fees, FP Markets boasts of low spreads starting from 0.0 pips, with its minimum deposit requirement being a bit high compared to others at £100.

Pros pros

  • Mobile app
  • Demo account
  • Low trading fees
  • Competitive spreads
  • Choice of auxiliary trading tools

Cons cons

  • Only CFD assets are available
  • Limited educational resources

14. Admirals – Trading Platform With MT5 Integration For Automated Trading

Admirals, previously known as Admiral Markets, is a popular MT5 broker with minimal fees, various CFD products, and a user-friendly mobile application. 

The platform offers over 8,000 CFDs, including stocks, ETFs, indices, commodities, cryptos, and bonds. It has over 80 forex CFD pairs, featuring major and exotic currencies with competitive spreads, starting at 0.6 pips for EUR/USD.

Its advanced features and analytical tools support this award-winning platform. Alongside MT5, Admirals has its automated trading platform and a mobile app, available on Android and iOS. The app supports over ten languages and has a simple account opening process.

Admirals trading platform

Admirals provides analytics, market sentiment, fundamental analysis tools, and educational videos.

A demo account is available for traders, replicating live market conditions with virtual funds. It’s also worth noting that Admirals is regulated in multiple jurisdictions, including the UK, Cyprus, and Australia. Also, client funds are held in segregated accounts for added security.

The platform offers various fee-free deposit and withdrawal methods with in-app functionality. It also has a responsive chat support system for quick assistance.

Pros pros

  • Extensive CFD offering, over 8,000 instruments.
  • Competitive spreads, low fees.
  • Advanced analytical tools and educational resources.
  • Regulated, with client funds segregated.

Cons cons

  • Interface complexity might overwhelm beginners.

Types of Automated Trading Platforms 

Automated trading, also known as algorithmic trading, allows traders to establish specific rules that, once programmed, can be automatically executed. Once the system is programmed, with all the rules of the trade already built into the parameters you set, it monitors the desired market and automatically makes trades.

Through automated trading, you can carry out many trades in a small amount of time while taking the emotion out of your trading decisions. You can set criteria determining both entry and exit points in the financial markets, make rules for money management, and even use predetermined best automated trading strategies to follow trends and trade accordingly.

As there are different types of automated trading platforms that you can take advantage of, let’s take a look at them:

Copy Trading Platforms

Learn2trade algorithm fact sheet

Copy trading is one of the easiest ways to automate your trading. It allows you to directly copy the positions taken by other selected traders. 

Here, you just decide the amount you wish to invest and then simply copy everything the successful trader does automatically in real-time. So, when your chosen trader makes a trade, your account automatically replicates it, aiming for similar returns without any input from you.

With this method, not only do you use another trader’s expert knowledge, but you don’t lose any control over the outcome either, as you still can close trades and open new ones whenever you want.

So, whether you’re a beginner or you simply don’t have time to watch the markets, utilizing automated trading platforms like Learn2Trade allows you to easily leverage the expertise of other crypto traders.

With Learn2Trade’s Copy Trader their algorithm will automatically opens and closes trades for, doing so for up to 70 trades per month.

It’s more than just copy trading, though, the Learn2Trade platform  also offers traders hints and tips for specific crypto and Forex trades.

Trading Bots

Trading bots play a significant role in not just traditional financial markets but also the fast-paced world of cryptocurrencies. And as technology advances, these bots will likely become even more sophisticated.

Expert Advisors (EAs): Robots on Platforms

When it comes to automated capabilities, many platforms integrate MeTatrader 4 (MT4) or MetaTrader 5 (MT5) for trade automation. These are popularly used in forex and CFD markets. 

When utilizing MetaTrader software, you have to first set a precise set of rules, depending on which trading bots (EAs) find opportunities for your trades and automatically execute them. You can either choose pre-built EAs or even develop your very own. 

Crypto Trading Robots

In crypto trading, which happens round-the-clock and experiences wild price swings, it is pretty challenging to seize all market opportunities. Moreover, the slowdown in exchanges and transaction times also exacerbates the problem. 

Experienced crypto traders use trading bots to help them out. These bots are special computer programs that automatically make trades for the traders. They do this to deal with problems that are hard to solve by themselves in crypto trading.

Crypto trading bots make trades based on parameters such as price, volume, and historical data along with market sentiments, price patterns, and indicators such as Bollinger Bands, RSI, and moving averages, all of which are already configured into their programming to start working automatically. 

For instance, BitIQ is a trading bot that operates in the crypto market. It leverages algorithms and machine learning to analyze market trends and execute trades on behalf of users.

Crypto Boom & Rise of Trading Bots

The popularity of crypto has led to a surge in demand for trading bots, which aim to exploit the rapid price movements presenting both opportunities and risks. As the crypto market evolves, trading strategies such as those based on machine learning are also advancing, and in tandem with this evolution, the usage of trading bots in the space is also increasing.

Trading Signals 

AvaTrade Trading Signals

Trading signals are a valuable tool that allows traders to identify any potentially profitable trading opportunities and then act upon them. These signals, generated by advanced algorithms and analysis techniques, give traders ideas or recommendations for when to execute trades at already set price levels and at a specific time. 

Signal providers leverage advanced technology and time-tested strategies driven by data to analyze different market factors, including market sentiment, fundamental news, and technical indicators, to single out potential trading opportunities for you to take advantage of. These signals are communicated to traders through communication channels such as text, email, or WhatsApp.

Platforms like Learn2trade and Cryptosignals.org send out a set of important information that tells you how to profit in real-time via Telegram.

Trading signals offer a range of benefits to traders of all levels of experience — while novice traders can learn about the intricacies of the market and generate profits, experienced traders can enhance their profitability and broaden their trading horizons.

Benefits of Using an Automated Trading Platform

learn2trade homepage

Automating trading platforms have been used widely across markets for a reason, including:

Accessibility

Automated trading platforms offer a reachable route to trading. Bolstered by the advances in technology and the growing popularity of social trading, there has been a surge in the number of auto-trading networks in the market, making them easily and even freely accessible. Furthermore, these platforms allow you to trade throughout the day without constant input from you, giving you free time to spend on your other hobbies.

Minimizing Emotions

Unlike humans, machines have no emotions, which means automated trading keeps responses like excitement and fear, which can be detrimental to your trading, in check throughout the trading process. By minimizing emotions, these platforms allow you to adhere to your carefully crafted plans and execute them effectively, avoiding any irrational decision making. 

Given that trading here is executed automatically, as soon as the predetermined conditions are met, such platforms can be of immense help to those traders who hesitate with trades, allowing them to stay true to their trading strategy outlined in the algorithm. 

Auto trading is particularly helpful to those traders who second guess themselves and tend to delay pulling the trigger. Additionally, it can curb overtrading, which is buying and selling at every perceived opportunity.

Discipline

When dealing with volatile markets, especially crypto, it is easy for emotions to take over. It then becomes extremely difficult to not rush in due to a fear of missing out (FOMO) or the fear of loss. Here, automated trading platforms help by making it all automatic, hence allowing you to stay true to your plan and follow it as you have laid it out carefully.  This way, such platforms help traders maintain discipline and achieve consistency, which gives you greater chances at success and profitability.

Diversification

Automated trading systems allow you to make use of all kinds of different trading strategies, from Arbitrage, Trend Following, Mean Reversion, Momentum Trading, Index Fund Balancing to Execution-based strategy, Position sizing, Breakout Trading, Sentiment Analysis, Swing Trading, Scalping, Delta Hedging, and more.

Besides being able to trade various strategies, you can also use these platforms to allocate your portfolio to different assets. This diversification allows you to hedge your positions, spread your risk, and even potentially make money in different types of markets.

Backtesting

To find out if a strategy really works, you have to first test it. You can do so by implementing your rules on past market data. After all, auto trading is all about implementing the configured rules automatically, and if your rules/strategy in itself is wrong, the computer system can’t help you achieve your goals. 

So, through backtesting, you can fine-tune your trading idea before risking money in live trading and reduce the possibility of losses. 

Improving Speed

Since computers respond instantly as soon as trade criteria are met, automated trading enables faster transaction execution. Consequently, this leads to more orders being executed in a shorter amount of time and with greater precision. 

After all, entering or exiting a trade mere seconds sooner can significantly impact the outcome, especially in hyper-volatile markets like crypto. This efficiency makes execution of a large volume of orders possible, and that, too, in mere milliseconds, as opposed to humans, who would otherwise need days. 

How we ranked the best automated trading platforms

Choosing the right platform is simply crucial to your trading success. And the best automated trading platform will give you swift access to market changes while offering you the utmost security and quality customer support. 

Moreover, the right platform should not only be reliable but must also align with your individual trading goals and, of course, risk tolerance.

So, while making this list of the best automated trading platforms, we took the following factors into consideration:

Ease of Use

A good automated trading platform should be easy to use, even if you are new to the trading scene and aren’t tech-savvy. So, we need to make sure the interface is user-friendly and intuitive and facilitates efficient order placement. Easy access to essential trading information further helps in making timely and optimal decisions. 

But of course, you need a platform that caters to your specific preferences because what works for one trader may not always work with another one. Also, in today’s digital world where mobile phones are the way to not just entertainment but also work, we need to make sure that the automated trading platform has mobile applications for both iOS and Android devices so that you can trade on the go.

Trading Tools 

Plus500 Automated Trading Homepage

Several platforms provide a range of financial instruments, such as stocks, commodities, ETFs, forex, and cryptocurrencies. So, it needs to be made sure the platform you choose actually supports the instruments that you want to trade. Moreover, the trading tools on a given platform should align with your trading strategy. 

Every trader has different strategies and preferences, which means you need a platform that has significant customizable options so that you can adjust it to suit your unique needs. And alongside customization, it’s also important to consider the type of order execution and the speed of execution before deciding on the best platform.

Features

Those who wish to dip their toes into automation may look into features like copy trading to follow experienced investors or semi-automated bots via signals to place your bets manually.

When it comes to choosing an automated trading platform, it is crucial to consider features such as real-time data, advanced charts, risk management tools, and several options for technical indicators and timeframes.

Moreover, examining educational materials offered by platforms in terms of news, market analysis, reports, guides, webinars, courses, videos, and other resources to help in your trading journey are just as essential for traders to make informed trading decisions. 

A reliable platform must also enable you to experiment with new trading features and strategies before you go live with your real money.

Security & Reliability

It is essential to make sure that the platform is reliable and secure. For that, we look for platforms that have been around for a while and have built a good reputation among traders. 

A trading platform regulated by a prominent authority such as FCA in the UK further ensures that it complies with the industry standards for financial practices. Other factors that we need to consider when choosing a platform for automated trading are its terms of service and privacy policies.

It’s also important to look at a platform’s historical uptime and if it had any significant downtimes recorded in the past. Given that the trading platform you choose will be the one providing you access to markets and where you’ll make your trades, you need it always functioning or risk missing out on lucrative opportunities. 

As for security, a platform must utilize two-factor authentication and strong encryption protocols like SSL/TLS encryption to prevent unauthorized access to sensitive information.

Customer Support 

Plus500's Customer Support

A good platform offers responsive customer support to help its clients whenever any issues or questions arise about using the software or technical difficulties. Knowledgeable customer service must also be available 24/7 via several methods, including phone, email, and live chat. 

Additionally, user reviews and testimonials help gauge other traders’ experiences of the platform and its reputation in the market.

Pricing Model

No matter how good a platform is, it must fit into your budget. Some platforms offer monthly subscriptions, while others have a per-transaction basis pricing model.

Then, there are fees charged by different platforms that need to be compared by considering factors such as commission, spread, transaction fees, subscription fees, deposit and withdrawal fees, charges on currency exchange, inactivity fees, and management fees. Ultimately, the optimal platform is the one that provides the best trading experience while being affordable.

Conclusion

Automated trading continues to revolutionize trading. Fueled by increasing demand for speedy, dependable, and efficient execution of orders, algorithmic trading platforms are growing in popularity at a rapid pace. However, it’s important to note that mechanical failures can still occur, and consistent monitoring is also necessary.

As we exit the crypto winter and trading becomes more popular, and more frantic with the way prices can rise, investors should consider something like Dash2Trade. Dash2Trade offers 2 algorithmic crypto trading bots that can trade 24/7 for you. It also plans to roll out a feature soon to let you create your own custom trading bots.

References

  1. https://straitsresearch.com/report/algorithmic-trading-market
  2. https://www.fca.org.uk/about
  3. https://www.fca.org.uk/firms/copy-trading
  4. https://corporatefinanceinstitute.com/resources/data-science/moving-average/
  5. https://www.ig.com/uk/trading-platforms/algorithmic-trading/what-is-automated-trading
  6. https://www.fidelity.com/learning-center/trading-investing/technical-analysis/technical-indicator-guide/RSI
  7. https://www.ft.com/content/0de17dc3-5f70-45c2-a933-2f914bac32d2
  8. https://www.handbook.fca.org.uk/handbook/glossary/G217.html#:~:text=(1)%20the%20investment%2C%20specified,a%20contract%20for%20differences%3B%20or

FAQs

What is the best automated trading platform in 2023?

Is there a legit automated trading platform?

What is the best AI trading platform?

Is automated trading profitable?

Gaurav Roy

Gaurav is a seasoned content specialist and researcher with over 5 years of remote work experience, engaging with clients across the US, UK, Australia, Israel, Germany, Netherlands, Canada, India, New Zealand, Singapore, and more. His expertise spans email outreach, in-depth research, and versatile content creation. He boasts over 600 research projects completed with AskWonder and has successfully led a team of research analysts for two years. He has a diverse portfolio, having supported companies like Casino Tops Online, Sweep Stakes Casino, PayGamble, Odds Scanner US, and Sambafoot UK, demonstrating his proficiency in the iGaming sector. He has contributed as a…