Automated Forex Trading - 2020

Advertiser Disclosure

Automated Forex trading brokers are the Forex brokers who allow their clients to use trading robots to execute trades, automating all or part of the trading process.

A huge majority of Forex / CFD traders allow automated trading. The few brokers that are not automated Forex trading brokers fall into two categories: the ones that only offer trading platforms which do not support trading robots, and those that do not allow it as a matter of policy.

The good news is that almost all Forex / CFD brokers allow their clients to use either the MetaTrader 4 or Metatrader 5 trading platforms, both of which can support trading robots, so there are very few brokers technically unable to support automated trading.

Few Forex / CFD brokers have a policy of not allowing the use of automated trading. This is for the simple reason that most trading robots lose money very quickly, and as most Forex brokers pocket the money that their clients lose trading due to their market-making execution model, so why would they have a problem with it? However, it is worth noting that some Forex / CFD brokers do not allow scalping or hedging, and many trading robots do utilize these techniques. For this reason, you might find that a broker is willing to support a trading robot but will not support the exact trading robot which you want to use.

This means that if you are looking for a broker to execute automated trading, you will probably have a very wide choice of brokers, and you probably won’t have to make any compromises on the other most important criteria which will affect your choice of Forex / CFD broker such as the security of your deposit and a healthy level of regulation. If you already have a trading robot that you’re eager to trade with in the form of a computer program, you will be strongly influenced by the choices of platforms offered. Most trading robots are only compatible with the MetaTrader platform, but a few are built for other trading platforms. They are not compatible across platforms.

Another issue to watch out for is the maximum number of trades that a Forex / CFD broker will allow a client to hold open at any time. Short-term robots, if applied to a very large number of trading instruments simultaneously, might generate something like a hundred open trades at a time. Brokers offering relatively low maximum leverage, such as all Forex / CFD brokers regulated in the European Union, will make it impossible for anyone not trading very small lot sizes relative to their account capitalization to have a large amount of open trades.

Although most trading robots tend to lose money, often quickly, there are successful hedge funds which use longer-term trading robots profitably, and there’s no reason why you can’t do the same.

Read More >
image Top Rated

Min. Deposit

$50


Bonus

None


Trading Platform

Proprietary platform


Max. Leverage

1:400


Regulation

CySEC, FCA, ASIC

Best broker for social traders and crypto traders : 75% of retail CFD accounts lose money

Min. Deposit

$100


Bonus

Up To $5000


Trading Platform

MetaTrader 4, Proprietary platform, Web-based


Max. Leverage

N/A


Regulation

MiFID, Central Bank of Ireland, ASIC, FSC, BVIFSC

Autotrading options including Mirror Trade, Zulutrade + more

Min. Deposit

Broker Dependent


Bonus

None


Trading Platform

MetaTrader 4, Web-based


Max. Leverage

Broker Dependent


Regulation

HCMC, KFB, CFTC

Social trading system that works with dozens of brokers

Min. Deposit

$50


Bonus

None


Trading Platform

MetaTrader 4, Proprietary platform, Web-based


Max. Leverage

1:50


Regulation

FCA, ASIC, AMF, FSCA

No dealing desk execution + wide range of trading apps

Min. Deposit

$250


Bonus

$110 + From 25% To 40%


Trading Platform

Proprietary platform


Max. Leverage

1:400


Regulation

CySEC, MiFID

Crowd trading that lets you follow trading trends