Best Brokers For Auto Trading

Best Binary Options Brokers 2020:
  • Binarium
    Binarium

    The Best Binary Options Broker 2020!
    Perfect For Beginners!
    Free Demo Account!
    Free Trading Education!

  • Binomo
    Binomo

    Good choice for experienced traders!

Contents

Best Binary Brokers for Auto Trading?

A lot of traders wonder what binary brokers can be the best choice when they use auto trading products. Some robots allow trading only with one broker, while some robots allow trading with more binary brokers which gives them the opportunity to have more diversity in their trading strategy.

We have already reviewed several binary robots that have been active for some time and in this guide, we will mention which brokers are offering auto trading services to their clients.

Binary Brokers that Developed Their own Robots

Besides a variety of binary robots available on the market, there are some robots that are owned by binary brokers. This means that brokers have decided to develop their own auto trading software and provide auto trading services for their clients.

One of the most famous brokers that were offering auto trading services was IQoption that had IQoption Robots software. Unfortunately, this broker has recently decided to shut down the auto trading project and it only offers manual trading through broker interface.

More about IQoption Robots software read in our detailed robot review.

The second broker that has offered auto trading services to their traders is Daweda Exchange, with their Daweda Automatic Trading Software . Daweda robot offers only trading with Daweda broker.

Algobit is also one binary software that s owned by one of the regulated binary brokers OptionBit. We have recently reviewed Algobit software and found this robot offers free signals to traders and execute trades on their behalf. Algobit also provides trading only with one broker, which is fine if you don’t prefer trading with more brokers simultaneously. Trading with Algobit starts with $250 and it offers several trading features that might keep your interest for trading. According to their official site, Algobit is the winner of several awards that increases the quality of this software. One of the awards was for the best innovative technology.

Top 3 Robots that Provide Trading with Multiple Brokers

First, we have mentioned binary products that are developed by brokerage companies and offer only one broker for trading. Those traders that haven’t found themselves in the first list can continue reading the text below.

There are various types of binary options traders some prefer trading with one broker, but some prefer trading diversity and this is also possible. There are hundreds of binary robots on the market that provide trading with more brokers at once. Check out best robots that offer to trade with multiple brokers.

Best Binary Options Brokers 2020:
  • Binarium
    Binarium

    The Best Binary Options Broker 2020!
    Perfect For Beginners!
    Free Demo Account!
    Free Trading Education!

  • Binomo
    Binomo

    Good choice for experienced traders!

#1 Binary Options Robot

This software is definitely our winner for a long time. According to their site, this software offers high-quality brokers and traders are welcome to register for free. Binary Options Robot offers semi-trading services, meaning traders have complete control over their trading portfolio.

Trading with a robot is pretty simple, traders can choose preferred broker or more brokers and they can place trades from the same trading interface. According to our analysis, Binary Options Robot allowed traders to trade with more than 10 binary brokers: G8investing, BinaryOnline S, PlusOption, uTrader, PWRtrade, OptionStars, Stern Options, 10Markets, CTOption, HBC Broker, Prestige Option, Hedgestone Group

#2 OptionRobot Software

Definitely, a robot that needs to be mentioned in this guide. This robot allows trading with multiple brokers too. In our OptionRobot review , we have found out that traders can place trades with this software even when the markets are closed.

OptionRobot allows traders to trade with BDSwiss , uBinary , Opteck , 24option , StockPair , Tradorax, BinaryTilt, EmpireOption, DineroLibre, FMTrader, and MarketsTrading. It is important to say that not all the brokers are available for trading in all countries.

#3 Fintech Binary Software

This binary robot is one of the favorites so we need to mention Fintech too. Traders that register with this robot have the option to trade with OptionBit, StockPair or Banc de Binary. The software is simple to use and according to their site, it is perfect for those without much knowledge and trading experience.

Traders that register with Fintech can place trades from their mobile phone and they can make deposits while they are on the go. Read more about Fintech in our Fintech review .

Best Brokers Conclusion

Our site has focused on providing most important information about both brokers, robots and binary signals on the financial market. Most robots are developed in order to help traders without trading experience. Besides our detailed guides on how to trade with the certain robot, most robots and brokers provide educational materials about binary options and their products.

It is important to check if the broker you decide to register with is regulated by some regulatory body. Not all the brokers are available in your country, so if you can’t find an appropriate broker, try to contact robot provider and see if they can help you find a solution.

All of the mentioned brokers offer various types of customer support and traders will get an appropriate update about all things they want to know. Brokers that developed their own auto trading product will provide more information about their product than other brokers.

It can happen that if you contact a broker agent and ask them for a third party robot, they might not know the specific answer to your question. This is because they don’t own the software, they only have a partnership with it.

Most binary robots offer free services to their traders. All robots we have mentioned are free and they don’t charge extra fees for their services. Traders make deposits directly with the broker on the broker’s account. In order to make a deposit, traders first need to register with a certain broker. There are various types of payment methods available.

We hope that we have answered all your questions about robots and supported brokers on their platforms. Our site provides various guides that might help traders find more about regulations, payment methods and available features and trading tools.

Keep in mind that trading binary options are risky especially if you don’t trade with reliable brokerage company or transparent robot software.

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Automated trading now accounts for the majority of orders executed in Forex: in the US alone, about 70% of daily transactions are made by automatic trading software!

Why? If you’ve done much Forex trading, you’ll know how exhausting trading can be, especially if something goes wrong. There are traders who dream of a partner who is intelligent, not exposed to emotions, logical, always looking for profitable trades, and who can execute those trades almost immediately. If you’re looking for all of that and more, look no further – these qualities also describe automated trading software.

Automatic trading software can be used to trade a range of markets, including Forex, stocks, commodities, cryptocurrencies and more. The software simply analyses the market, and opens a trade so you don’t need to carry it out manually. In a nutshell, with automated software you can turn on your trading terminal, activate the program and then walk away while the software trades for you.

In this article, we’ll share an introduction to automated trading software, including:

  1. What is automated trading software?
  2. How how automatic trading software works
  3. Who can use auto trading programs
  4. The advantage and disadvantages of Forex trading programs
  5. Different financial markets for auto trading software
  6. How to start automated trading

What is automated trading software?

Before we can cover what automated Forex software is, we need to start with the basics: What is automated trading?

Simply, there are two types of trading:

  1. Manual trading
  2. Automatic trading

Manual trading is when you manually open and close trades in your trading platform. Automatic trading, on the other hand, is when a software program analyses the market and places a trade based on predefined parameters.

Automated trading software, also known as Expert Advisors or EAs, can open and close trading positions without human intervention. Some automatic software uses technical analysis to make algorithmic trading decisions, while others use economic news to place orders.

How does automated trading software work?

Automated Forex trading software analyses market information in order to make trading decisions. This information might include currency price charts, economic news and events, spread fluctuations, and other market activity.

By analysing this data, using criteria that has been programmed by the trader, the software identifies trading signals and generate a purchase or sell alert based on those criteria. On this alert, the software can be programmed to automatically carry out the trade.

In summary, the functions Forex auto trading software can carry out include:

  1. Market analysis, including technical analysis and fundamental analysis based on your trading strategy
  2. Opening trades automatically when the specified conditions are met
  3. Closing open positions according to the specified conditions (take profit, stop loss, reversal . )
  4. Risk management, through limiting the size of open positions or the number of open positions you have at any one time

If you have a Forex trading strategy with an automated approach, you can program your automatic trading software to analyse and trade the markets 24 hours a day, which allows you to seize all potential trading opportunities.

Having said that, although trading algorithms can be great tools, keep in mind that using Forex trading program does not guarantee a profit. The results will depend on the strategy used, and a winning strategy may become a loser if market conditions change.

Are you ready to start automated trading? Then you can try out a range of different tools FREE with Admiral Markets?

How? The process is simple:

  1. Sign up for a free demo account.
  2. Download and install MetaTrader 5.
  3. Download and install MetaTrader Supreme Edition.
  4. Open MetaTrader on your computer, and sign in using your demo account details.

Then you can start using free Expert Advisors to see how automated trading works!

Who can use automated Forex trading software?

Hypothetically, newbies, experienced professional traders and seasoned Forex traders can benefit from using FX trading software to make their trading decisions.

In fact, automated trading software is available for a wide range of prices with varying levels of sophistication to meet different needs. Fortunately, most programs offer a free demo period along with other incentives to buy, which gives you the opportunity to see if a Forex trading program is a good match for you.

What are the advantages of automated Forex trading programs?

Now that we’ve covered how automated trading software works, what are the benefits of using tools like this?

The first advantage of automated trading programs is the removal of emotional and psychological influences when trading. Automated software makes your trading decisions consistent and unemotional, exploiting parameters you have pre-defined, or the default setting you have previously installed.

Many traders – both beginners and experienced – often make trades for emotional reasons. They see there is a lot of activity in the GBP/USD, for example, and they don’t want to miss a potentially profitable trade. Or they see a trade going badly, and manually close it before their strategy says they should. With automated trading, emotional decisions and lapses of judgement do not happen.

Automated software pushes you to clearly set out your trading strategy, rules and objectives in order to program the algorithm, so this forces you to set rules and stick to them!

Next, for currency speculators who make trades based currency spreads, auto Forex trading software can be effective. This is because price discrepancies are instantaneously apparent, the information is immediately read by the trading system and consequently a trade is executed.

Additionally, automated software programs also enable traders to manage multiple accounts at the same time, which is a real plus that is not easily available to manual trades on a single computer. This allows you to seize many opportunities simultaneously, along with running complementary strategies at the same time. For instance, with the right software you could run a scalping strategy and a different day trading strategy for the same financial asset.

For serious Forex traders who have other interests, occupations, or obligations, automated software or an automated Forex trading robot can save considerable time that could otherwise be devoted to other important activities such as studying the markets, analysing different charts, or watching for various events that influence currency prices.

Automated FX trading systems allow you to free yourself from your computer monitor, while the software scans the market, looks for trading opportunities and makes trades on your behalf.

In addition, MetaTrader 4 & 5 applications on iPhone, Android and tablet allow you to easily monitor your trading account wherever you are.

One final benefit of Forex auto trading software is that the marketing incentives to buy specific packages, which might give you extra tools for trading.

While there are many benefits to trading with automated trading software, keep in mind that this is not a recommendation on our part to use automatic trading.

What are the disadvantages of Forex auto trading?

As with any tool, automated Forex trading software comes with disadvantages as well as benefits. Some of these include:

  1. Scams related to the sale of autonomous trading software – not every program out there will perform the way you want it to, which can make it easy to spend money with no benefit.
  2. Lack of knowledge in computer and algorithmic programming – given the previous point, it’s important to understand how your automated trading program works. If you don’t have strong programming or computer knowledge, you might struggle to get the most out of auto trading.
  3. The financial cost of using a professional coder – if you can’t code, you can hire people to create Forex and currency trading programs for you. However, these people can get expensive quite quickly.
  4. The lack of systematic trading training – beyond programming knowledge, it’s also important to have a clear trading system for the trading bot to follow. If you don’t, then you will struggle to see the benefits of automated trading software.

These are the four most common challenges faced by beginners to automated trading. If you are an experienced auto trader, you may encounter other difficulties related to advanced trading strategies.

Remember to take into account these considerations when creating your trading strategy and your algorithm! This will save you some nasty surprises.

Which financial markets are the best for using automated trading software?

Automated trading programs are not all made equal, and it’s important to consider the markets you want to trade when choosing the right one for you. In particular, it is important to apply your strategy in markets that are more likely to provide good trading conditions, but also constant movements on a regular basis.

In our experience, auto traders trade three major markets: Forex, indices and cryptocurrencies. In the following sections, we’ll share the advantages of using automated trading for trading these three markets via CFDs ( Contracts for Difference).

Benefits of automatic Forex trading

  1. Enjoy high volatility every day on dozens of currency pairs.
  2. Get 24/7 continuous quotes, trade any time of day and night.
  3. Take advantage of the strong liquidity of the foreign exchange market, with about $5 trillion in transactions every day.
  4. Many Forex auto traders are available on the world’s two leading trading platforms, MetaTrader 5 and MetaTrader 4. These are the world’s most popular platforms for manual and algorithmic trading.

Benefits of automatic trading on index CFDs

  • Auto trading index CFDs is ideal for day traders. Stock markets open and close at a fixed time, which means your trading session can therefore be limited to trading hours without having to monitor an algorithm continuously.
  • Take advantage of open market movements and strategies developed around gaps in the market open, and market ranges.
  • Tight spread can limit transaction costs, making smaller trades more profitable.
  • Indices reflect news from economy and major companies, meaning you can choose an automated trading program that is triggered by fundamental analysis alerts.

Automatic trading on cryptocurrencies

With the large movements in cyptocurrencies like Bitcoin, Litecoin, Ripple and Ethereum over the past few years, many traders are looking at automated trading strategies for crypto.

Cryptocurrencies are an interesting market for trading algorithms, in that they regularly experiences peaks of volatility. On the other hand, they also experience long periods of range-bound movements.

The advantage of an automatic algorithm is to be able to take advantage of opportunities during peak volatility without the need to monitor the market constantly. In addition, the cryptocurrency market is open seven days a week!

However, be aware that the crypto market is still new and unregulated, so avoid purchasing any automated trading software that is specifically designed for crypto. Instead, focus on software that can trade a range of markets, which you can then program for your cryptocurrency trading needs.

Want to try automatic trading for popular cryptocurrencies, like Bitcoin, Litecoin and Ethereum? Then click the banner below to learn about the different crypto CFDs offered by Admiral Markets.

What’s the best time for auto trading Forex?

The best times to use automated trading software are:

  1. When economic publications and speeches are released by major market players
  2. When technical analysis is at its most reliable

During major publications, markets tend to experience significant movements, which is why many traders specialise in using automated trading based on the economic calendar.

Forex trading software can be programmed to monitor regular economic events, like the announcement of the US unemployment rate. The software can then open an automatic trade following the movements caused by the announcement, as soon as the announcement has been made.

Let’s consider a concrete example:

  • If US unemployment rate is lower than expected, an automated trading system can be triggered to go long on USD and US indices when the price closes above a simple or exponential moving average of a certain period.
  • If the US unemployment rate is higher than expected, the auto software can make short trades when the price closes below a simple or exponential moving average of a certain period.

The other good time to use automated trading software is when technical signals are at their most reliable. When is this?

The best times to activate automated trading systems happen to be when there is no economic data on the calendar, which means assets are more likely to respond reliably technical levels such as major support and resistance.

How to create an automated Forex trading system

To create an automated trading system – one that can be mastered with automated Forex programs – you’ll need to start with you trading strategy.

Simply, a trading program needs rules to follow, and if you are unable to give it those rules (whether you program it yourself or hire someone to do it), it won’t be able to operate effectively. To do this, you will need to:

  1. Develop a trading plan based on your capital and risk tolerance.
  2. Develop an automatic trading strategy with very precise conditions for taking positions and analysing the market. This might be linked to economic announcements, or certain technical levels.
  3. Integrate trend analysis with a filter, to define whether the system should seek to buy or sell (e.g. a moving average).
  4. The precise characteristics of a buy or sell signal depending on whether the trend filter is bullish or bearish (e.g. breaking the last peak for a long position or breaking the last trough for a short position).

By following the four steps above, you will be able to create your own automatic trading system, with the first two steps being essential prerequisites for the creation of your Expert Advisor.

Note the importance of accurate conditions for opening or closing positions. If the instructions are not clear and precise, your system will not perform the desired operations, or perform financial transactions other than those desired.

How to start auto trading Forex

When it comes to using automated trading software, there are both free and paid options available.

How to do free automated trading

Free auto trading simply means you are programming your own automated trading software, rather than buying one of the currency trading programs available on the markets.

To do this, you will need to:

  1. Create a trading strategy with clear rules and triggers for opening and closing trades.
  2. Code that strategy into an Expert Advisor that is compatible with your trading program.
  3. If you haven’t already, download a free trading platform, usually available via your broker. (At Admiral Markets, we offer traders MetaTrader 4 and MetaTrader 5).

If you don’t have the skills to code your own forex trading program, Admiral Markets offers the MetaTrader Supreme Edition plugin for free to all live and demo account holders.

MetaTrader Supreme Edition is a tool for MetaTrader that has a range of exclusive indicators and Expert Advisors (or automated trading programs) that you can use to supercharge your trading. For example, the free software trader EA Admiral Correlation Matrix calculates the correlations between several instruments and markets, giving you a clear picture of the correlated movements of the financial markets – and is 100% free.

Another example is the Admiral Donchian flag which has an alert to warn you of the breakout of a major price level. All free automatic trading software is not intended to open positions – some only serve to send signals and alerts to the trader.

If you’re ready to get started, click the banner below to download MetaTrader Supreme Edition today!

How to do paid automated trading

There are a number of paid options for automated trading.

Once you’ve created your trading strategy, the first option is hiring a professional programmer to build an EA, and then to test it on your trading platform to ensure its effectiveness.

If you decide to have your Expert Advisor MT4 or MT5 develop by a professional, the bill will depend on the complexity of your strategy. As a general rule, the more complex the program is, the more it will cost you.

Option 2 is to download a paid automatic trading software from the MetaTrader Market, accessible from the MetaTrader platform in the ‘Market’ window.

Option 3 is to find an automatic trading program on a third party website.

For options 2 and 3 to be their most effective, it’s important to take the time to learn about the Forex software and check the opinions of users and the strategy used. The main risk lies in mastering the trading strategy of the algorithm. In order to use the automatic Forex trading software correctly, you must understand the strategy it uses.

When you are buying from third-party sites, also be wary of unscrupulous sites that may be selling losing algorithms and using false advertising. If this is a concern for you, do not hesitate to buy a Forex algorithm from a serious developer who can explain the implemented strategy.

Automated trading in MetaTrader

While there are a range of trading platforms that accommodate automated Forex trading, the world’s most popular platform is MetaTrader. Both MetaTrader 4 and MetaTrader 5 offer traders access to a wide range of markets (thousands, with Admiral Markets!) from a single platform, along with advanced charting functionality.

The platforms are also compatible with Expert Advisors (EAs), which allow you to carry out trades automatically.

To add an expert advisor to your MetaTrader chart is very simple:

  1. Select the chart where you would like to add an EA.
  2. Click the “Navigation” panel.
  3. Expand the “Expert Advisors” menu, followed by the “Advisors” menu.
  4. Select your preferred EA and drag it onto the chart. You can also double click on it to apply it to an MT4 or MT5 chart.
  5. Fill the desired parameters into the popup window.
  6. In the “Common” tab, check “Allow Automated Trading”.

Source: Metatrader 5

How to Optimise an MT4 or MT5 Expert Advisor

  1. Type Ctrl+R to open the strategy tester.
  2. Choose an indicator or MT4 EA to test.
  3. Select the symbol (instrument) you want to trade.
  4. Define the unit of time on which the EA will operate
  5. Indicate the spread that the EA will use to simulate positions taken in the past.
  6. Check the “Optimisation” box.
  7. Click “Expert properties” to customise your MetaTrader optimisation.

Source: Optimisation Parameters, Admiral Markets MT4

Once these parameters are customised, all you have to do is press ‘Start’ to start the optimisation!

How to Analyse an MT4 or MT5 Optimisation Report

Once the optimisation is finished, you can go to the results in the ‘Optimisation Results’ tab. The different results can be sorted by:

  • Profit
  • Total number of automatic trades
  • Profit factor
  • Expected payoff
  • Drawdown $
  • Drawdown %
  • Input parameters

You just have to choose the best results to find the parameters that best match the time period tested.

You also have an optimisation graph that looks like the following image:

Source: Chart Optimisation, MT4 Admiral Markets

Beware, very often novice traders who use a trading program tend to fall into over-optimisation and find themselves using an approach doomed to failure because the parameters of their automated Forex systems will be optimised too accurately for a defined period of time established in the past.

Thus, during the periods of future trading, the particular trader who employs such a system will see results very different than those obtained in his backtests, so it is not uncommon to see an automated strategy be largely successful in the past but losing thereafter!

Is optimisation really useful?

If you only optimise a few parameters and your automatic system is dynamic and includes the price action reading, you will be more likely to avoid over-optimising your systematic approach.

On the other hand, it is useless, or even counterproductive, to seek to over-optimise an expert advisor. Finally, if you run several optimisations on your EA, consider changing the dates of the backtests, so that the algorithm is tested on different market context.

4 elements of an automatic trading strategy

Now that you know how to start auto Forex trading, with both free and paid options, as well as the steps to get started in MetaTrader, we will outline four elements that can help you choose the best automated trading strategy.

Keep in mind that these elements don’t guarantee the effectiveness of any automated trading strategy or trading robot, it is only a guide to get your started. Following these steps, however, will help minimise the emotional aspect of your trading and maintain your trading discipline.

1. Strategy logic

The first thing you should consider before an automatic trading strategy is the logic behind the strategy. Here it is useful to consider:

  • Objective benefits
  • Risks
  • Stop losses
  • Momentum
  • Rank
  • Trend

Never underestimate the market conditions in which you will apply your strategy. Not all strategies work in all market environments. You must first consider the environment you are in, and then apply the strategy that works best.

2. Input and output signals

A large number of traders spend a lot of time worrying about the input and output signals in an automated Forex strategy. It is important to understand the general logic implied by the strategy, although we should not overestimate every operation the strategy makes.

In general, this strategy is a start for hundreds or even thousands of operations to come. Try to analyse the performance of the operations as a whole and not individually.

When you review your operations:

  1. Place your winning and losing operations in different places.
  2. Calculate the average of your winning and losing operations, considering a set of at least 10 operations
  3. Ask yourself: The net result of my last 10 operations has been positive or negative, how many pips have I generated or lost?
  4. Try to replicate the winning operations with higher returns.

3. Market conditions

Previously, we mentioned the importance of choosing the right automated trading software for the market in which you are trading. More often than not, traders forget this step.

There are two different types of market conditions. We will define these conditions as:

These two conditions are mutually exclusive. When the market is in a trend, prices are constant and progressing in the same direction. An upward trend is one with higher highs and lower lows, while a downward trend has a series of lower highs and lower lows.

Ranges, on the other hand, are formed when the market is not moving up or down but the price is consolidating. Generally a price will fluctuate between an upper and a lower limit, known as support and resistance levels.

When choosing an automated trading strategy, neither type of market is better or worse – the only thing that should worry you is what kind of market condition your automated Forex strategy is based on.

4. Leverage

Now let’s see the last item on our list: leverage. This is an area that is commonly missed by automated FX operators.

Most of the time, traders expect too much from automated trading strategies before using them. This can lead them to trade with high levels of leverage. And while leverage has the power to amplify your profits, it has the same magnifying effect on any losses.

The danger with automated trading software is that many traders tend to only look at the positive aspects of a strategy and ignore potential losses. This then causes them to choose higher levels of leverage than they should based on their available capital, and can quickly lead to large losses if market conditions change or the Forex bot doesn’t perform as expected.

For this reason, when using automated software, we suggest using effective leverage no more than 10 times. If you are just starting out, you can consider even a lower level, for example 5 times the amount you want to invest.

The benefit of using smaller amounts of leverage is that if your FX strategy experiences a reduction, you only risk a small part of your account and, therefore, you would have much more capital left to negotiate, compared to using higher amounts of leverage..

We hope this checklist helps you towards successful automatic trading. You will begin to implement the best automated trading strategy properly using the right leverage and performance expectations.

5. Bonus tip: Learn from the experts

If you really want to take your trading to the next level, the best way to get started is to learn from those who have been where you are now. The good news is that you can do this with our free webinar series, Trading Spotlight!

Three times a week with three pro traders, Trading Spotlight takes a deep dive into the world’s most popular trading topics. Find out more and reserve your spot by clicking the banner below.

How to choose an automated FX trading program

While our auto trading platforms of choice are MetaTrader 4 and MetaTrader 5, you might want to consider your options on the market. In order to do this, it’s important to define your needs and do your research by reading automatic trading reviews.

Define your needs

Since automated trading systems vary in terms of speed, performance, programmability and complexity, what is good for one trader might not be good for another. Some Forex traders will want a program that generates reports, or imposes stops, trailing stops and other market orders. Other traders, such as those who are less experienced, may want a simpler program with a set-and-forget feature.

With this in mind, the first step is defining your needs for the software.

At their most basic, any automated trading program should be able to perform the following tasks:

  • Generate reports or trading alerts automatically
  • Place stop orders
  • Manage standalone trailing stops
  • Place conditional orders directly on the Forex market
  • Trading in tick, or high speed scalping (High Frequency Trading)

Assuming the programs you are considering can perform all of the above, when it comes to choosing between different currency trading programs, here are some more elements to consider:

  • Real-time market monitoring
  • Remote access capability (this is vital if you travel often, or intend to be away from your PC for a long time)
  • Virtual private server hosting, or VPS, which provides fast internet access, isolates the Forex automated software for security purposes, and also offers technical support
  • Ongoing fees and commissions – is there a one-off charge to purchase the software, or will you need to pay extra fees and trading commissions?
  • Return guarantees, terms and conditions

Read automatic trading reviews

Some auto trading firms claim to have a very high percentage of winning trades. However, as the saying goes, if it sounds too good to be true, it probably is.

In fact, the main criticism made of automated trading software is of unscrupulous people selling losing algorithms. There are many trading scams on the internet, and it can be difficult for new traders to detect them, especially if you’ve never tried automatic trading.

Such advertising claims must be verified, and this is where reviews for Forex automation software can be useful.

A quick Google search will bring up a range of websites that list brokers who offer auto trading support, as well as reviews of specific automated trading programs.

On top of this, the best software publishers will provide authenticated trading history results in order to show the effectiveness of the programs they are offering. The golden rule is to understand that past performance is not a warranty of positive future results.

Consider the costs of the Forex trading program

While cost shouldn’t be your top concern, price competition does currently favour the consumer, so perhaps it’s a good idea to shop around for the best deal. Just be careful not to sacrifice quality for price. Prices for trading packages can range anywhere from hundreds of dollars to thousands.

Try auto trading before you buy

When you’re considering different automated trading software, you’ll find that some firms provide video content of software programs functioning in the market, purchasing, and selling currency pairs. If there are screenshots of account action with trade prices for buy and sell transactions, time of profit posting, and execution – then you should consider checking them out before committing to anything.

While testing new Forex automatic trading software, run the tutorial, or any other training function in order to see if it is appropriate and answers all of your questions. Additionally, you may have to call the support desk for answers to complex questions about programming, like the buy-sell criteria, and exploiting the system in general.

If a help link is offered to you, check how easy it is to navigate, and whether it’s of any use to you. Some of your questions might not be answered through the information provided in the help section and knowledge base. A high level of service and technical support is crucial for Forex traders at any level of experience, but is especially significant for novices and newbies.

Often the majority of the leading firms will also offer a free, non-obligatory test of their automated Forex trading robots, so that the potential customer can see if the program is a good fit. In such a situation, test to see if the program can be installed easily, and ensure that you do not have any difficulties with understanding and using it.

Moreover, ensure that the software is programmable and flexible, so that you can change any pre-installed default settings.

How to test automated trading software

If you have found some auto Forex software that looks promising, the next step is to test it. Backtesting against historical data will help you confirm that the software behaves the way you want, before you put any money at risk.

You can also test the Forex automaton on a demo account over a significant period, or on a significant number of open automatic trades, in order to verify its functioning and its profitability.

A third option for testing is performing a manual test of your strategy on past course data.

In fact, you can test automated trading strategies using Expert Advisors in MetaTrader Supreme Edition, a plugin that includes:

  • The trading simulator
  • The Mini Terminal
  • The Admiral Keltner indicator

These free trading tools allow you to try a systematic trading tools that can eventually become an algorithmic trading strategy.

What is the best platform for automatic trading?

While it’s easy to get caught up in the possibilities of algorithmic trading, it’s also important to consider the trading platform you will use.

The best platform for automatic trading must meet three criteria:

  1. It must be intuitive: You must be comfortable using it
  2. It must be functional: It must not restrict you in your trading strategies
  3. It must be customisable and professional: You must be able to use it for both automatic and manual trading

Forex trading software is numerous but only a few are recognised as reliable and robust. This is one of the many reasons why MetaTrader 4 and 5 are the world’s most popular trading platforms.

And this is why these are the automated trading platform we offer at Admiral Markets:

  • MetaTrader 4
  • MetaTrader 5
  • MetaTrader Edition Supreme
  • MetaTrader WebTrader

Download MetaTrader 5 below.

Which broker should you choose for automatic trading?

Just as choosing the right trading platform is important, so too is choosing the best Forex broker. You could have the ultimate automatic Forex software in your arsenal, but if you aren’t trading with a reputable, ethical broker, you might struggle to access your profits.

With this in mind, it’s important to consider these points when choosing a Forex broker:

  1. Always trade with a regulated broker
  2. Choose a broker that authorises the use of Expert Advisors
  3. Choose brokers with fast order execution
  4. Prioritise Brokers with tight spreads to limit transaction costs and maximise your profits
  5. Choose a broker with a wide range of markets and financial instruments

While the previous five points are essential, this list is not exhaustive! Depending on your strategy, you may have additional requirements, for example: If your algorithm uses a hedging strategy, you must make sure to choose a broker that allows hedging.

For the vast majority of automatic trading strategies, Admiral Markets offers many advantages:

  1. Regulated by some of the world’s leading financial regulators – the FCA, EFSA, CySEC and ASIC
  2. Tight spreads (meaning lower trading costs) on Forex CFDs and other instruments
  3. No opening or closing fees for Forex CFDs – only the spread is paid
  4. Mini lots available CFD, meaning you can trade in low volumes as you test your strategies – with micro lots from 0.01 lots
  5. No minimum stop losses or take profits
  6. Orders executed at the best prices in the market in just a few milliseconds
  7. Speed, comfort and simplicity: enter or exit trades with just one click
  8. Free real-time FX and CFD trading charts in MetaTrader 4 and 5
  9. Access leverage of up to 1:30 for Retail clients, and 1:500 for Professional clients
  10. Minimum deposits from € 200 – start small and increase your investment as you learn the markets

Final thoughts

While automatic trading software is not as simple as most Forex or CFD providers want you to believe, that doesn’t mean it’s impossible!

Like any tool, automated Forex programs are just one that you need to learn. Once you do, they can run your trades for you, while you spend time on the things that are more important to you.

It does not matter what level of expertise you have in Forex trading. Whether you are a beginner, an experienced trader, or a professional, Forex trading automated software can help you.

It is vital to understand that no Forex automated software can guarantee a 100% rate of winning trades. It’s also important to remember that past performance does not guarantee success in the future. However, it is a tool that could give you an edge in the market, when used appropriately.

Ready to dive deeper? Then why not learn to trade in a safe, risk-free environment with a FREE demo account? It is an easy way to learn the basics of Forex trading and polish your skills as a trader before you progress to the next level. Click the banner below to open your free demo trading account!

Learn to trade

About Admiral Markets

Admiral Markets is a multi-award winning, globally regulated Forex and CFD broker, offering trading on over 8,000 financial instruments via the world’s most popular trading platforms: MetaTrader 4 and MetaTrader 5. Start trading today!

This material does not contain and should not be construed as containing investment advice, investment recommendations, an offer of or solicitation for any transactions in financial instruments. Please note that such trading analysis is not a reliable indicator for any current or future performance, as circumstances may change over time. Before making any investment decisions, you should seek advice from independent financial advisors to ensure you understand the risks.

Best Online Brokers

Find and compare the best online trading platforms for every kind of investor

With so many different types of online stock brokers available to investors, it can be tough to choose one that works best for you. That’s why we put these U.S.-based online brokers through a comprehensive review process that included hands-on research to determine the best in the industry.

When we started our 2020 online broker reviews six months ago, no one knew how the world would change. We recognize that we all are living through a particularly volatile time as we deal with this global crisis, and financial markets have also seen unprecedented change, impacting all investors. Our analysis of the online brokerage industry is, “Commission Cuts, Consolidation, and a Coronavirus Crash.”

Our mission has always been to help people make the most informed decisions about how, when and where to invest. Given recent market volatility, and the changes in the online brokerage industry, we are more committed than ever to providing our readers with unbiased and expert reviews of the top investing platforms for investors of all levels, for every kind of market.

Best Online Brokers and Trading Platforms for April 2020:

  • Fidelity Investments: Best Online Broker
  • TD Ameritrade: Best Broker for Beginners
  • tastyworks: Best Broker for Options
  • Interactive Brokers: Best Broker for Advanced Traders
  • TD Ameritrade: Best Broker for Mobile
  • Interactive Brokers: Best Broker for International Trading
  • tastyworks: Best Broker for Low Costs
  • Charles Schwab: Best Broker for ETFs

Best Overall: Fidelity Investments

  • Account Minimum: $0
  • Fees: $0 for stock/ETF trades, $0 plus $0.65/contract for options trade

Fidelity earned our top spot for the second year running by offering clients a well-rounded package of investing tools and excellent order executions. It has continued to quietly enhance key pieces of its mobile-responsive website while committing itself to lowering the cost of investing for its clients. Fidelity joined in the rush to cut equity and base options commissions to zero in October 2020 but remains devoted to offering top-quality research and education offerings to its clients. The firm also makes it easy for clients to earn interest by sweeping uninvested cash into a money market fund. Fidelity also shares the revenue it generates from its stock loan program, and allows clients to choose which stocks in their portfolios can be loaned out.

Fidelity provides excellent trade executions for investors. On average, over 96% of orders for Fidelity customers are executed at a price better than the national best bid or offer.

Fidelity offers a wealth of research and extensive pre-set and customizable asset screeners.

Your uninvested cash is automatically swept into a money market fund to help contribute to overall portfolio returns.

Some traders and sophisticated investors may have to use Fidelity’s web platform in addition to Active Trader Pro to access all the tools and research they require.

Non-U.S. citizens or residents cannot open an account.

Traders and investors must manually refresh the data when using the website.

Fidelity has a wide offering of securities, but no commodities or options on futures.

Best for Beginners: TD Ameritrade

  • Account Minimum: $0
  • Fees: Free stock, ETF, and per-leg options trading commissions in the U.S., as of October 3rd, 2020. $0.65 per options contract.

Financial markets can be intimidating the first time you try to put your money to work, so it helps to have an online broker that understands that and puts in an effort to help. To determine the best broker for beginners, we focused on the features that help new investors learn as they are starting their investing journey. Brokers were selected based on top-notch educational resources, easy navigation, clear commission and pricing structures, and the overall quality of their portfolio construction tools. We also looked for low minimum account balances, as these can be a barrier for new investors with limited capital. Finally, we put an emphasis on the availability of demo accounts so new investors can practice using the platform and placing trades.

TD Ameritrade, one of the largest online brokers, has made significant efforts to market itself to beginner investors through social media. Work is still being done to further streamline its web and mobile experiences and make them more accessible to new users, but the resources new investors can already access are exceptional. Education is a key component of TD Ameritrade’s offerings. You’ll find expanded learning pathways, ranging from beginner to advanced, to help clients understand everything from basic investing concepts to extremely advanced derivatives strategies. You can open an account and poke around without making a deposit, and take advantage of all the learning opportunities until you’re comfortable. TD Ameritrade wants new investors to become more confident, and to trade additional asset classes as their skills grow.

The education offerings are designed to make novice investors more comfortable.

TD Ameritrade offers in-person education at more than 280 offices as well as multiple training pathways available on its website and mobile apps.

The TD Ameritrade Network offers nine hours of live programming in addition to on-demand content, viewable on mobile devices.

The well-designed mobile apps are intended to give customers a simple one-page experience.

Some investors may have to use multiple platforms to utilize preferred tools.

TD Ameritrade offers one of the widest selections of account types, so new investors may be unsure of which account type to choose when opening an account. More support is needed to ensure customers are starting out with the correct account type.

Investors are paid a tiny rate of interest on uninvested cash (0.01-0.05%) unless they take action to move cash into money market funds.

Best for Options: tastyworks

  • AccountMinimum: $0
  • Fees: $0.00 stock trades, $1.00 to open options trades $0.00 to close

Options trading has become extremely popular with retail investors since the turn of the 21st century. Our best options brokers have a wealth of tools that help you measure and manage risk as you determine which trades to place. They also include valuable education that helps you grow in sophistication as an options trader.

The commission structure for options trades tends to be more complicated than its equivalent for stock trades. Until the commission cuts that swept the industry in the fall of 2020, most brokers charged a fee for each leg of an options spread, plus a commission per contract being traded. The per-leg fees, which made 2- and 4-legged spreads expensive, have been eliminated for the most part. We are seeing some brokers place caps on commissions charged for certain trading scenarios.

Investors with fairly large portfolios can take advantage of portfolio margining at certain brokers, a practice that assesses the total risk inherent in a portfolio that contains stocks and derivatives, and can reduce the size of your margin loan.

Tastyworks officers say that more than 90% of the trades placed by their customers are derivatives, so there are a lot of tools for options and futures traders. Everything is designed to help the trader evaluate volatility and the probability of profit. It’s all about making decisions and taking action. Executions are fast and the costs are low, capping commissions for opening orders for options on equities and futures at $10 per leg. As you build a position from a chart or from a volatility screener, a trade ticket is populated for you. There’s a video viewer embedded so you can keep an eye on the tastytrade network. Though a newcomer to options trading might be initially uncomfortable, those who understand the basic concepts will appreciate the content and features.

All of the tools you’ll need for analyzing and trading derivatives are built into the tastyworks platform.

The charting capabilities are uniquely tuned for the options trader. If you have multiple positions on a particular underlying, you can analyze the risk profiles of the combined position.

There are hours of original video from tastytrade every weekday, offering up-to-the-minute trading ideas, plus a huge library of pre-recorded videos and shows.

Newcomers to trading and investing may be overwhelmed by the platform at first. There’s a learning curve to climb.

There is no fixed income trading (outside of ETFs that contain bonds) for those who want to allocate some of their assets to a more conservative asset class.

Besides profit and loss, any additional portfolio analysis requires setting up a login on a separate site, The Quiet Foundation, which is also part of the tastytrade empire.

Best for Advanced Traders: Interactive Brokers

  • Account Minimum: $0
  • Fees: Maximum $0.005 per share for Pro platform or 1% of trade value, $0 for IBKR Lite

Advanced traders need fast, high quality executions, reliable data, sophisticated order types, and access to the asset classes they want to trade. We also looked for portfolio margining and top-notch portfolio analysis.

Interactive Brokers (IBKR) earns this award due to its wealth of tools for sophisticated investors and its wide pool of assets and markets. The firm makes a point of connecting to as many electronic exchanges as possible. You can trade equities, options, and futures around the world and around the clock. Interactive Brokers’ order execution engine stays on top of changes in market conditions to re-route all or parts of your order to achieve optimal execution, attain price improvement, and maximize any possible rebate. The order routing algorithms seek out a speedy execution and can access hidden institutional order flows (dark pools) to execute large block orders. The wide array of order types include a variety of algorithms as well as conditional orders such as one-cancels-another and one-triggers-another. You can also set up conditional orders based on price, volume, daily P&L, margin cushion, number of shortable shares available, rebate available from the trading venue, and other factors.

IBKR’s order execution engine has what could be the smartest order router in the business.

Interactive Brokers connects clients to 125 markets in 31 countries and enables clients to trade stocks, options, futures, forex, bonds and funds from a single integrated account.

Algorithmic order types include VWAP (volume-weighted average price) and TWAP (time-weighted average price) as well as order types designed to minimize the trader’s impact on the price of a particular stock.

You can only have streaming data on one device at a time. This could be an issue for traders with a multi-device workflow.

The most advanced capabilities are restricted to IBKR Pro clients and trades on that plan are not commission free.

Best for Mobile: TD Ameritrade

  • Account Minimum: $0
  • Fees: Free stock, ETF, and per-leg options trading commissions in the U.S., as of October 3rd, 2020. $0.65 per options contract.

Over the last few years, online brokers have increasingly adopted the mantra “mobile-first.” As more investors and traders use tablets or smartphones as their primary platform, online brokers have made efforts to improve their mobile apps.

Streaming data has made its way to mobile apps along with complex options analysis and trading, advanced charting, and educational offerings. With the availability of computers in our pockets, the way people interact with their trading and investment accounts have forced brokers to offer mobile apps along with their traditional desktop platforms.

TD Ameritrade focused its 2020 development efforts on its most active clients, who are mobile-first – and in many cases, mobile-only. TD Ameritrade’s thinkorswim mobile platform has extensive features for active traders and investors alike. The workflow for options, stocks, and futures is intuitive and powerful. You’ll find lots of bells and whistles that make the mobile app a complete solution for most trading purposes, including streaming real-time data and the ability to trade from charts. The regular mobile platform is almost identical in features to the website, so it’s an easy transition. TD Ameritrade clients can trade all asset classes offered by the firm on the mobile apps.

TD Ameritrade optimized its traditional website for mobile browsers with a dashboard where clients can quickly access account details, balances, balance history, positions, news, and more.

The well-designed mobile apps are intended to give customers a simple one-page experience where they can quickly check in on the markets and their account.

The TD Ameritrade Network offers nine hours of live programming in addition to on-demand content, viewable on mobile devices.

Streaming real-time data on thinkorswim’s mobile app is unlimited.

Customers may have to use multiple platforms to utilize preferred tools. Options-specific tools abound on thinkorswim and its associated mobile app, but fundamental research for equities and fixed income tools are mostly available only on the website.

Over-the-counter (penny stock) trades are subject to a commission of $6.95 per trade.

Clients are paid a tiny rate of interest on uninvested cash (0.01-0.05%) unless they take action to move cash into money market funds.

Best for International Trading: Interactive Brokers

  • Account Minimum: $0
  • Fees: Maximum $0.005 per share for Pro platform or 1% of trade value, $0 for IBKR Lite

For the international trading category, category weightings for the range of offerings were adjusted upwards to measure which broker offered the largest selection of assets across international markets. After that, overall platform functionality and variety of orders types were also measured as these are important to successful trading when undertaking position management in markets that span the globe. These adjustments revealed a clear winner for international trading in the 2020 review.

Interactive Brokers is the best broker for international trading by a significant margin. Interactive Brokers allows investors to access 125 exchanges in 31 countries across the globe. This reach is combined with a massive inventory of assets and 60 different order types to plan your entry and exit from a position. Investors can also fund their account in their domestic currency and IBKR will handle the conversion at market rates when you want to buy assets denominated in a non-domestic currency. And, if all that were not enough, the quality of trading tools available through Traders Workstation (TWS) make it easy to execute multi-layered trades across international borders. Interactive Brokers has won this category two years running, and there is no sign of that changing in the near future.

No broker can match Interactive Brokers in terms of asset inventory or international markets.

If an exchange enables a particular order type, IBKR offers it you. For example, very specific limit-on-close orders on the Tokyo Stock Exchange and pegged-to-primary orders on the London Stock Exchange.

You can trade non-U.S. dollar assets on margin without having to have the local currency in your account.

Most non-U.S. exchanges charge additional data fees that increase your trading costs.

All non-U.S. transactions incur trading commissions, some of which are not completely transparent.

Small or inactive accounts may be subject to maintenance fees or data charges, and interest is not paid on cash unless you have a substantial balance.

CFDs, Options Robots & Forex Auto Trading Reviews

Automatic trading robots are software products that trade on your behalf or let you choose among many trades generated by the system. With auto trading, analysis becomes unnecessary as the advanced software utilizes the knowledge of experts to create trading recommendations on behalf of traders. Fair Forex Brokers puts a lot of effort into reviewing robot trading software for binary options, forex, cryptocurrencies and CFDs. There are some important aspects that traders should look for in auto trading software of their choice. We prefer trading robots that are: free, web-based, trustworthy, and support a range of regulated brokers. Below is our list of reviewed auto trading robots.

What is Forex, CFDs or Binary Options Auto Robot Trading Software?

Forex robots, or forex auto trading software, as well as binary auto trading software and CFD trading software are all very similar in their technology but different when it comes to online retail trading instruments they use. Most modern auto robots are based on advanced algorithms that can easily track market changes and find trades with the highest potential. Forex robots code includes an algorithm that employs often a well known trading strategy to place trades automatically or by requiring confirmation from the trader.

How do Binary Options, CFDs and Forex Trading Robots Work?

Here, Fair Forex Brokers team will try to explain the way auto trading software works in the easiest way possible.

In most cases, traders trade with either a binary, forex or a crypto broker. They follow the market changes and try to find trading opportunities buy utilizing technical analysis and market indicators. Such approach requires great knowledge, not only on financial markets, but also on fundamental and technical analysis, which usually takes time to master.

Using an trading robot is a somewhat different approach. In this case, traders still trade with a broker (preferably a regulated one), but they use auto trading software to do the analysis and find trades for them. Binary options robot, forex robot or cryptocurrencies trading software does the analysis thanks to the sophisticated algorithm, and delivers the trade directly to the trader. Depending on the trading software, it can be placed manually or automatically.

Trade with Forex Robots in 3 Easy Steps

Step 1 – Register with a Forex Robot

Open a trading account with a forex broker of your choice. This is usually done by filling out an online form. As soon as you have a trading account, you will be connected to a broker. All your trades will be placed with the broker you made deposit with, but you never have to leave the robot’s website depending on the Robot. The robot, no matter the asset type you are trading, is only a bridge between you and the broker that allows you to trade in a more convenient way.

Step 2 – Use Settings to Control Assets, Risk and Trading Strategies

Explore and use all tools and settings you have available with your auto trading robot. That way, you will personalize your trading signals and trades placed.

Step 3 – Activate Auto Trading or Trade Signals in the Software

Most robots nowadays have a special button that allows you to activate or deactivate automated trading. When you feel ready to trade, make sure to turn the auto trading button ON.

Binary options robot operates in the same way. Of curse, the individual trading experience may differ based on the quality of the product and features offered. Some binary options robots are only simple algorithms that can be turned on and off, while others offer great add-ons and customizations possibilities.

Are Crypto, Options and Forex Robots Profitable?

Traders should definitely be interested whether or not their binary options robot or forex robot is profitable. While there are many products that promise you to become rich in a single month – just see BinaryBoom promises of 17000 USD – an obvious lie, bear in mind that serious and reputable products never make such promises. The success rate is usually based on a complicated equation with several factors including the risk you are willing to take, the number of trades placed, so it is impossible to guarantee you an exact percentage. This is why we always prefer trading with robots that have many tools and features that can be used to customize the trading profile and the trades placed.

Binary options robot profitability is equally hard to determine – there are simply to many factors involved. However, traders should always use the trading robot that offers personalised trading and gives them a higher level of control. This way they can either turn off strategies or assets that drag the overall win rates lower. Also, risk settings will allow to get only the signals with lower potential payout, but also less risky.

Note: Robot results are not always verifiable and depend on many factors

Which Forex or Binary Options Robot Really Works?

The question every trader should ask themselves is not which forex robot really works, but which forex robot works for them? In order to find out the answer, we recommend reading all forex, binary, CFD and crypto robot reviews available on our website and doing some research yourself. Only so can one be sure that their decision is optimal.

Also, use forex robots that have a no deposit demo mode, so you can test drive the software.

Forex Robot Demo – The Best Way to Test the Software

While reading reviews traders will find out there are robots that offer a free demo and robots that don’t. Forex robot demo, or any other type of demo whether it is binary options, crypto or CFD robot we are talking about, allows the trader to get a first-hand experience on what trading with a certain robot actually looks like. Demo accounts usually come with a certain amount of virtual money. With this money, you can’t make real money (as it is virtual), but you can use it to trade on the platform and avoid rookie mistakes that can cost you real money in the future.

Traders should always prefer forex robots that have a free demo, as they make the entire trading process more transparent. You will know what awaits you, once you deposit with the broker available on the trading interface.

What is the Best Auto Trading Robot on the Market?

A new forex robots, binary options robots and crypto trading software pops up every day. It is understandable that traders often feel challenged to find the one that really is the best forex robot or best binary options robot. There is no unique brand that can be considered the ultimate solution for all traders, as we all have different goals and trade in different ways.

Still, here are some characteristics of the best forex trading robots:

  • Free demo account
  • Regulated brokers available
  • Multiple account types
  • Variety of settings, tools and assets
  • No download required
  • Mobile trading supported

Sometimes, traders will be able to find auto trading software that supports all these characteristics, and sometimes they will find only some of them. It is important to read reviews, like those available on our website, to get a better picture on the overall image of a certain forex or binary options robot, instead of focusing exclusively on a single characteristic.

Are Forex Robots Scams?

Traders must be aware that the quality of CFDs, binary and forex robots may vary depending on the brand. Not all auto trading software or binary options robots are created equal and not every algorithm is equally complex or advanced. Some algorithms are simply more reliable than others. Also, the quality levels of customer support, brokers available and tools offered are not the same with different brands. We always strive to provide objective review and warn traders about unethical practices, but the best way to protect yourself from scams is to read reviews thoroughly and focus on facts rather than promises.

What are Forex EAs?

Different class of robots are MetaTrader Expert Advisors – EAs. They function on a bit different principle and require manual installation in the system. Their advantage is the fact that they can be tested on historical data, however, they are not easy to install for unexperienced users and can cost up to several thousands of Euros.

Forex Robot Comparison: MT4 Expert Advisor vs FXMasterBot

MT4 EA is also known as Metatrader4 expert advisors. It is a special type of auto trading software that can be added to the MT4 forex trading platform with the sole purpose of auto trading. There are many different types of MT4 expert advisors, but in this case, we will try to compare them with one of the most popular auto trading software that doesn’t require any downloads – FXMasterBot.

MT4 expert advisor can be described as a plug-in that needs to be installed directly on the Metatrader platform. Considering that Metatrader platforms already require download and installation, many traders feel challenged by so many technical maneuvers necessary for auto trading. On the other hand, forex robots that can be accessed directly from the browser are straightforward to use, and there is no technical knowledge necessary.

From that point of view, FXMasterBot is more user-friendly. All you need to know are your login credentials and you can easily trade from any device you have nearby that is connected to the internet. Also, good EA’s cost money, and FXMasterBot is completely free. Thanks to free auto trading software, you can direct all your money towards trading, and in case whn you are using MT4 EA’s you have to put an additional cost into trading equation.

While in the past, MT4 EA forex robots were considered to be the ones that offer highest customization possibilities with strategy parameters and other settings. FXMasterBot makes this entire decision-making process easier. And while there is no doubt that MetaTrader4 expert advisors have certain good sides, modern “prosumer” traders are more oriented towards simple solutions that have everything taken care of, such as FXMasterBot.

Overall MT4 EAs do have advantage that there are as many of them as there are people who believe they have cracked the formula to trade in the market. Many of them perform really good in set conditions, while others offer lower returns but better adjust to abrupt market changes. In this sense they have advantage that one does not rely on default few strategies, as with FXMasterBot which uses Bollinger Bands and few other indicators to create signals – there is a huge selection of approaches. EAs offer much more versatility, but also are more complicated to run for some people.

Binary Options and CFD Robots and Regulated Brokers

As previously mentioned, most modern forex, binary and crypto auto trading software offer a list of brokers you can use to make a deposit with. Bear in mind how auto trading software never accepts any deposits nor processes withdrawals, as that is done by the broker.

Regulated brokers give credibility to the auto trading robot and give traders an additional level of safety at the same time. We always support trading with regulated forex and binary brokers, as they oblige to demanding set of rules and have high standards when it comes to customer protection.

Forex Robots for iPhone and Android Phones

The needs of modern traders can no longer be fulfilled with desktop trading only. That is why more and more forex trading software offer mobile versions of their trading rooms or mobile apps that can be downloaded from their respective app stores.

Forex robots that are supported on iPhones and Android phones make trading possible no matter where you are and what you do. You can wait for a bus, a meeting, or sit on the beach and still get access to latest trades. This makes trading more dynamic and is not limiting you only to your desktop computer. Binary options robots are no longer supported in form of an app on iPhones, due to Apple’s decision to remove them from the store.

Still, there are certain conditions that need to be fulfilled for successful mobile trading with auto trading software. For example, make sure to have enough space on your phone so that the app can work without any delays and interruptions. Also, make sure that your data plan supports enough traffic that is necessary for trading, or that you are connected to a reliable wi-fi network.

In the past, mobile versions were often the not most optimized trading solutions, and mobile apps usually were the best choice. Today, there is little to no difference, but again, use a free forex robot demo to make sure you like the way trades are placed on your mobile phone.

Bitcoin and Ethereum Auto Trading Software – Cryptocurrency Robot Trading

As it is already a well-known fact, cryptocurrencies are considered to be the next big thing in financial trading. Also, increased popularity of cryptos increased the demand for safe and reliable crypto trading software. And while it seems to be an impossible task to find a solid bitcoin auto trading robot, or ethereum auto trading software, traders can apply the same rule they do when choosing a forex trading broker.

They simply have to find a solid auto trading software that supports this type of trading with, preferably, regulated brokers who offer cryptocurrencies as underlying assets. Also, there are specialized robots that support crypto assets exclusively. This is a much better trading solution than using a robot that trades for you directly on the exchange. You will keep control over the entire trading process which is of crucial importance.

Crypto Auto Trading Software Benefits

Cryptocurrencies markets are extremely volatile. Sometimes it takes only a rumor, statement or a slight change in the regulatory framework to cause great drops in the crypto market . This puts traders in an unfavorable position – they can experience unexpected losses at any moment, and miss great trading opportunities at other.

Bitcoin auto trading systems and ethereum trading software can give traders a chance to take a break. Besides, they also serve as an additional tool for trading with their favorite regulated brokers. Cryptocurrency trading with best auto trading robots combines dynamic crypto trading with more reliable forex trading (as most forex brokers offer cryptocurrencies in their portfolio). Using a reliable crypto trading robot that requires no special downloads and installations and cooperates only with the best crypto brokers on the market can significantly improve your chances of reaching satisfying win rates.

Binary Options Auto Trading Software – Browser Plugins

The second type of auto trading software in binary options is the plugin. The idea here is to use the feature modern browsers support – extensions – in order to make a small program that will run as the auto trading overlay with the chosen broker trading platform. Usually, one gets a sidebar with some settings. While this seems very practical, in many cases these are the worst designs since many of them still work in a way that the software uses the position of the platform to write down signal data directly into the interface of the broker’s trading platform.

This is a very clumsy solution and probably the worst type of binary auto trading software implementation. The installation can be easier than with the standalone software, however, this is not the rule. Sometimes plugin needs to be downloaded and installed just as the regular software. In any case, this solution is often less stable and secure since it depends on the browser and its performance.

Are Web Based 100% Automatic Auto Traders the Best Choice?

Without even touching the performance of binary options auto trading, we are arriving at the newest way to implement auto trading. The new approach respects the inherent web-based nature of binary options and keeps the main trait of binary options trading – online, no download, browser interface. The idea is to have all the necessary settings in the browser and turn auto trading on and off trough a simple click. Web-based solutions are becoming the most popular way to trade binary options since no installation is required.

Auto trading software run from the server controls the experience while broker trading platform is used to place trades.

Prices & Binary Option Robot Activation Key

A lot of customers are asking how much do these binary options auto trading solutions cost. There is no unique answer here. Some charge for their software, while others do not. Some require monthly subscriptions while others sell software licenses for major versions. Also, many offer a free version that does not include all the options the full version, which has to be paid has. In some cases, there are fewer controls, while in other cases not all brokers are available.

Paid software will usually require an activation key from the provider in order to get it to work. This is a protection against those who would download it without paying. This is also a reason why many customers think there is a crack or a keygen (activation key generator) for binary options robots. We are not aware that hackers have developed any cracks in order to get this software for free, but it is very likely the access would be blocked from broker’s side.

Free auto binary trading software

If you prefer not to pay for the binary options robot software, there is no need to go around looking for keygens and cracks. There are perfectly good free auto binary trading services that all you need to do is sign up and set the account. Our favorite, as can be seen in the list below is the Binary Options Robot. It is free and has a web-based interface that does not require any downloads.

Binary options bot for Mac

Not all binary options auto trading solutions have a version that is available on the mac. Plugin solutions might work in some instances and not in others. The surest way to get a web based solution as the aforementioned Binary Options Robot. This way traders can be sure it will work on every platform, without installation.

Binary options robot – scam or not

Binary options robot sector is versatile and it is hard to say that every service is a good one. Some may not be that bad, but they use spammy tactics that make us distrust them. Some are total scam preying on customers with their “make money fast” schemes. Trust us, there is no such thing. Do not fall for that. It is also important that the binary options robot of your choice does not feature brokers that are a scam, or you could encounter problems with withdrawals. Take a look on our blacklist in order to know which brokers to avoid.

Best Binary Options Brokers 2020:
  • Binarium
    Binarium

    The Best Binary Options Broker 2020!
    Perfect For Beginners!
    Free Demo Account!
    Free Trading Education!

  • Binomo
    Binomo

    Good choice for experienced traders!

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How To Make Money on Binary Options Trading
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