Best Automated Trading Software

So, let’s say you want to invest in the financial markets but don't have the time to watch charts or open/close trades. Or maybe you simply want to have an intelligent system trade on your behalf so you avoid making emotional decisions. Well, in this write-up, we'll talk about what it takes to find the best automated software and also explore a few good examples available out there currently.

Top Automated Trading Platforms & Software in 2022

1. Trade Ideas

Trade Ideas remains one of the most reliable AI market scanners out there. Their virtual trading assistant Holly provides real-time trading suggestions and has been beating the market since 2017.

Worth noting however is that Holly is primarily a market analysis tool not an automated trading feature and that is where Brokerage+ comes in handy.

With Brokerage+ you get to marry to immense power of Holly with your favorite brokerage platform thereby making it possible to automatically open and close trades.

For now, Brokerage+ provides connectivity to Interactive Brokers (IB) and E*Trade. Interactive Brokers LLC is a US-based brokerage firm that allows you to trade anything from crypto and stocks to bonds and ETFs.

E*Trades, on the other hand, is a financial corporation that is well-known for its zero-commission policy. Under E*Trades’ brokerage services one can invest in stocks, options, futures, and ETFs among other securities.

So, with trade ideas you get the best of both worlds. You get the world’s best AI market analysis tool working for you – Holly. And you also get unlimited access to brokerage platforms via Brokerage+ for automated trading.

This is extremely important because automating your trading without automating your market analysis is hardly ever a good idea.

Pros

  • Cutting edge market analysis
  • Seamless brokerage integration
  • Wide variety of securities to trade in
  • Excellent customer support
  • Easy-to-use for beginners
  • Powerful scanner

Cons

  • Limited brokerage services available for now
  • Only US & Canadian securities

2. Ava Trade

Ava Trade has been in the business of stock brokerage since 2006. And as of now, their automated trading feature is a multi-prong one.

First off, they have Zulu Trades which is simply a platform that enables you to link up with successful traders on the market especially if you’re interested in copy trading.

Besides that, they do have DupliTrade which is all about a collection of ready-made strategies that you can identify and automate to enhance your trading potential.

The DupliTrade strategies usually come with all the details you need to make decisions e.g., success rate and historical performance.

Ava Trade works in tandem with Meta Trader 4 (MT4). And as you know, MT4 is a retail trading platform that makes it possible for you to access market charts, load indicators etc.

With Ava Trade and MT4 it’s possible to automate your entire trading experience especially if you’re targeting forex, crypto, ETFs, and stocks.

Above all, Ava Trade provides you with a demo account that you can use to test-drive your strategy.

Lastly, if you’re interested in following different traders and learning their strategies first, then you can take advantage of AvaSocial. This is a social trading app that you can conveniently use to shorten your learning curve.

Pros

  • Easy account opening process
  • Above-average research tools
  • Excellent social trading facilities
  • Free deposits & withdrawals
  • Low minimum deposit requirements

Cons

  • High inactivity fee
  • Only available in select countries

3. Learn2Trade

If you are looking for the best automated trading software, you should take a look at what Learn2Trade has to offer. This is a renowned forex signal service provider with its headquarters in the UK. Their service caters to different financial markets including crypto and forex.

Besides providing alerts services, the company utilizes AI and machine learning to provide cutting-edge research 24/7.

Therefore, as their subscriber you’ll enjoy access to their trading suggestions and be able to make independent decisions if you choose to do so.

On the other hand, if you are interested in automating your trading, Learn2Trade presents you with that possibility through their 360-degree automated service. In that case, you will have the company’s algorithm handle all the trading decisions for you.

One benefit of taking this route is that you get to detach yourself from the day to day running of your investment account. And that way, you can focus more on being productive elsewhere even as you eliminate emotions from your investment journey.

All you’ll need to activate the automatic trading service is to have at least $250 as your minimum starting capital. Once the service is activated for you, you’ll be able to set the kind of trading parameters that fit your risk appetite.

And to top it all up, you’ll have the freedom to set your take profit (TP) and stop loss (SP) positions.

Pros

  • Easy to use
  • Great flexibility
  • Ideal for beginners
  • Reputed and trusted signals service
  • Reasonable minimum deposit requirements

Cons

  • The service doesn’t come cheap
  • Below-part training materials

4. Pionex

Pionex is a crypto exchange that comes with its own built-in automatic trading software for crypto. But are its services worth the hype?

Well, this cryptocurrency platform has gained immense popularity of late probably owing to its beginner-friendly design and proper licensing.

But one feature you cannot underestimate as far as this company is concerned is its integrated bots. In total, Pionex has 16 bots all designed to optimize crypto trading and improve the chances of success. 

One bot that particularly makes a lot of sense is the grid trading bot. With it, you can profit from the market whether the environment is bullish or bearish. All you need to do is set your desired price range and as long as the price remains within this range, the bot will automatically go long for you when the price goes up and short if the price goes down.

How cool is that? In other words, you don’t have to worry about the market shifting against your predictions. The bot automatically detects when trends are about to end and closes the active trades before they turn into loss making ones. At the same time, it opens new trades this time aiming to profit from the new trend – and so on.

And the best part is – the bot never goes to sleep when you do. It keeps working for you leaving you to enjoy as much free-time as you possibly can.

The only problem we have with Pionex is that they don’t give you a way to test-drive their bots without committing real cash. As there is no demo trading service available, you are left with no choice than to risk it all using real cash.

Pros

  • Easy to use
  • Resourceful mobile app provided
  • 40+ cryptocurrencies supported
  • Reasonable deposit/withdrawal terms
  • Good customer support

Cons

  • No demo trading
  • Relatively new bot trading concept

5. Forex.com

Forex.com is a subsidiary of StoneX, a company that is publicly traded on the NASDAQ exchange. They are regulated as a brokerage firm for CFDs and forex and currently boast access to a wide range of securities and commodities.

Indeed, one thing that sets Forex.com ahead of the competition is that it has some built-in features that enable you to automate your trading journey.

The first one is known as Ninja Trading and it comes with built in auto trading technology. The second one is the API Trading tier.

Here’s how the API trading feature works. Once you set up your standard MT4 account, you simply contact the Forex.com customer support requesting them to connect your algorithm or trading system.

The catch here is, you will have to figure out where to find the algorithm. The job of Forex.com is to connect it to their built-in software.

We think Forex.com makes a lot of sense to folks who are able to develop trading bots on their own. The platform currently supports bots made from different programming languages among them Python, VB.NET, C++, and Perlscript.

What if you don't know how to code? Well, in that case, you're better off signing up for a social trading platform like AvaTrade from where you can learn the ropes and either develop your own algo or borrow someone else’s. Alternatively, you can take advantage of the Ninja Trading service still provided under Forex.com’s menu.

Pros

  • Highly secure auto-trading platform
  • Excellent customer support
  • In-depth historical data
  • Compatible with different programming languages
  • Linked to over 80 forex marketplaces

Cons

  • Complicated withdrawal process
  • Customer support could do with some work

6. NinjaTrader

Ninja Trader is a product made by a Denver-based company that goes by the same name in 2003. And even though they are primarily a technical analysis platform, their investment in an automatic trading software has seen brought them even better fortunes.

With the NinjaTrader system you enjoy access to over 850 professionally made and back-tested bots. This way, you can double check the system you’re using to trade even before you commit real money to it.

What's more, each bot comes with information about its historical performance along with a live ticker that shows just how well it's faring at that given moment.

Plus, the system’s interface comes with an intelligent filter system that enables you to sort the top performing bots based on timeframes such as: Last Year, Current Session, or Since Inception.

So, what kind of securities can you trade under the NinjaTrader system? Well, their marketplace comprises: Stocks, Futures, Options, CFDs, and Forex.

Generally, is service is ideal for anyone in need of an unlimited supply of technical analysis tools. Their platform has some well-made charts along with customizable indicators for those who would like to trade manually or simply carry out a quick analysis of the markets.

Pros

  • Easy-to-use auto trading tool
  • Helpful platform guides
  • Dozens of add-ons available
  • Fantastic charting tools
  • Customizable algorithms

Cons

  • You’ll still need the services of a broker
  • Premium features can be pricey

7. eToro

Since 2010, this stock brokerage has gone above and beyond its call of duty to embrace social trading and semi-automation through the use of algorithms. This way, the company enables its novice and intermediate traders to follow their favorite, experienced traders and trade like them.

And to incentivize more pro traders to be part of their CopyTrader platform, they invented the Popular Investor Program which is basically an incentive to encourage their most successful traders to share their knowledge with the rest.

So, you only need to identify a reliable seasoned trader from their database, follow them and learn as much as you can. Or you can simply copy-paste their trades as it is perfectly legal to do so.

Also, if you are good at developing automated trading systems, eToro provides you with their API so you can tweak things as much as you’d like.

Those simply looking for a ready-made auto trading system, however, need to link up with their authors for the permission to use them.

To this end, eToro stands out as a great and unique place to learn, connect, and grow. It, however, doesn’t offer much in terms of ready-made algorithms for auto-trading. All the company provides you with is the tools to make this happen – but you have to figure out most of the full automation stuff either on your or through a mentor/developer.

Pros

  • Wide variety of securities
  • Great customer support
  • Excellent at copy-trading
  • Clean, intuitive user-interface
  • Easy deposit/withdrawal processes

Cons

  • Complaints of punitive charges
  • Hectic account verification process

How To Find The Right Algorithm Trading Software for Stocks & Forex

There are many factors to be considered when searching for the best automated trading software. That's because, at the end of it all, you want to safeguard your money and maximize your returns. Keeping that in mind, here are some suggestions on what sets a good auto-trading system from the rest.

1. Extent of Automation – A good system is one that’s fully automated as it truly gives you the freedom to do other things in life. However, you can still benefit from a semi-automated system albeit with a bit of input from your end.

2. Result-Driven – Avoid programs that are marketed on the basis of big claims yet cannot backup those claims with real data.

3. Assets – It’s always a good idea to go for a platform that has the kind of assets or securities you desire to invest in (i.e., forex, stocks, crypto etc.).

4. Fees – If you go for a system like eToro’s, you’ll have to part with a certain share of your profits. But if you opt for Trade Ideas, all you need to do is pay a one-off fee and keep all of your income.

Conclusion

Automated trading lets you hit two birds with one stone. It gives you the opportunity to actively trade even when you’re away from the computer or phone screen. Also, it enables you to separate raw emotions from your career as a trader.

The trick is to find an automated software that is backed by the most powerful AI technology in the game – and for now, we believe that coveted title belongs to Trade Ideas’s Holly.