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Many investors want to inject money into the financial markets – but they are hindered by the fact that they have little to no understanding of where to start.

By this, we mean knowing how to research assets and interpret technical charts to a level that will permit risk-averse and value-added investment decisions.

In this guide, we discuss the some automated trading platforms in 2022.

Top Automated Trading Platforms 2022

Check out which automated trading platforms made the cut. We review each provider in great depth below.

  1. eToro
  2. AvaTrade
  3. Learn2Trade
  4. Forex.com
  5. NinjaTrader

Automated Trading Platforms Reviewed

In choosing the best automated trading platform for your needs, there are many things to consider.

For example, are you looking for a 100% automated process, or are you looking to retain some control of your portfolio? You also need to consider the legitimacy of the platform, fees, and which assets you will be gaining exposure to.

1. eToro 

eToro Logo

In terms of reputation and safety, asset diversity, ease-of-use and fees – eToro is a strong automated trading platform in the market. Primarily, eToro is an online broker and social trading platform that serves over 17 million clients.

It allows users to manually invest or trade and get market data from thousands of assets – including stocks, ETFs, cryptocurrencies, forex, and more. So whether you’re looking for an automated stock trading platformforex trading platform, or Bitcoin trading platform, eToro covers all bases. eToro is a 100% commission-free broker with no ongoing platform fees. With that said, this provider also offers a number of automated trading tools.

At the forefront of this is the innovative eToro Copy Trading feature. In its most basic form, the tool allows users to copy an eToro client like-for-like. There are thousands of verified and experienced traders that have signed up for the program, so it is easy to find a pro-investor that meets your financial goals and appetite for risk.

eToro copy trading

Past performance is not an indication of future results

For example, eToro allows you to view each and every trade that the investor has placed in real time since joining the platform. This then allows you to view the trader’s average monthly return, maximum drawdown, preferred assets, trade duration, and risk rating. You can filter each of these key metrics down to ensure you choose a trader that aligns with your investing profile.

To give you an idea of the specifics, let’s suppose that you invest $2,000 into a verified eToro copy trader that is involved in forex day trading. The trader’s first position of the day consists of a 5% stake on GBP/AUD. The trader closes the position a few hours later at a profit of 10%. The exact same trade would be replicated in your own eToro account.

67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

The minimum investment on eToro is just $200 per copy trader and there are no additional fees or commissions associated with this feature.  The second option that this top-rated automated trading platform offers is CopyPortfolios.

etoro copy portfolio

Past performance is not an indication of future results

These are pre-made portfolios that are professionally managed by eToro. For example, there is a cryptocurrency CopyPortfolio that provides access to a basket of digital currencies. There is also a vaccine Portfolio that contains a basket of stocks involved in finding a treatment for COVID-19.

Much like the Copy Trading tool, there are no fees or commissions with eToro CopyPortfolios. There is, however, a higher minimum investment amount – which starts at $1,000 upwards and will vary depending on the strategy.

eToro is regulated by three reputable financial bodies – notably the FCA, ASIC, and CySEC. Getting started with eToro takes more than 10-minutes and you can easily deposit funds with a debit card, credit card, bank account transfer, and several e-wallets like Paypal, Neteller, and Skrill.

eToro also offers an excellent mobile trading app so that you can use its automated trading services on your smartphone.

eToro fees

Fee Amount
Stock trading fee Free
Forex trading fee Spread, 2.1 pips for GBP/USD
Crypto trading fee Spread, 0.75% for Bitcoin
Inactivity fee $10 a month after one year
Withdrawal fee $5

67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

2. AvaTrade

AvaTrade is primarily an online trading platform that allows you to buy and sell on a do-it-yourself basis. However, the provider is also offers exposure to MetaTrader 4- making it a good automated trading option.

MT4 (MetaTrader 4) is a third-party trading platform that is supported by hundreds of online brokers and trading sites. MT4 is a platform that comes with charts and a huge selection of trading tools.

MT4 supports automated trading platfoms and forex EAs (expert advisors). The automated trading software/expert advisors are pre-programmed files that are tasked with following a set of advanced trading rules and market conditions. The main concept here is that the MT4 file will trade on the users behalf.

avatrde automated trading

In fact, once the robot has been setup and given authorization via MT4, it will then scan the markets and place orders for 24 hours per day, 7 days per week.

In the case of AvaTrade, the provider supports thousands of financial instruments – covering forex and CFDs in the form of the stocks, hard metals, energies, cryptocurrencies, and more. The platform is a 100% commission-free broker, so the only fees applicable are the spread.

avatrde automated trading

AvaTrade is regulated by reputable financial bodies. The main drawback of taking the robot/EA route is that you need to find a suitable provider. This is because there are thousands of websites selling automated trading softwares for MT4 – so you need to do lots of research and backtesting before taking the plunge.

AvaTrade fees

Fee Amount
CFD trading fee Variable spread
Forex trading fee Spread. 0.9 pips for EUR/USD
Crypto trading fee Commission. 0.25% (over-market) for Bitcoin/USD
Inactivity fee $50 per quarter after three months of inactivity
Withdrawal fee Free

79% of retail investors lose money trading CFDs at this site

3. Learn2Trade 

learn 2 trade best forex signal Telegram group

eToro is by far the best automated trading platform for those of you that wish to sit back and take a completely passive role when investing online. However, some of you might not feel comfortable about not having any say in where your money goes and thus – you want a bit more control.

If this sounds you, then you might be more suited for a platform like Learn2Trade. In a nutshell, Learn2Trade is one of the most established and reputable trading signal providers in the online space. For those unaware, signals relate to real-time suggestions that tell you what trades to place and when.

Learn2Trade signals

Signal providers like Learn2Trade based these suggestions on advanced technical and fundamental research via a team of in-house traders. Once a trading opportunity has been identified, Learn2Trade will then send a signal out via Telegram. These signals provide everything you need to know to act on the trade. The key attraction with opting for signals as opposed to a fully automated trading system is that users have full control over their funds.

Learn2Trade signals

That is to say, users are under no obligation to act on any of the signals that Learn2Trade distributes. In terms of what assets the signals related to, Learn2Trade primarily specializes in automated currency trading and cryptocurrency trading. However, the provider also sends out signals relevant to stocks, gold, and indices.

If you like the sound of Learn2Trade but want to test the waters out first, the provider offers 3 free signals per week. Alternatively, you can opt for the Premium Account on a 30-day moneyback guarantee basis – which gets you around 3-5 signals per day. The Premium Account comes at a cost of £35 per month, albeit, you can reduce this by signing up for a longer plan.

Learn2Trade signals

Crucially, Learn2Trade has not only been involved in the trading signal and automated strategies scene for several years, but it now has a Telegram group following of over 11,500 members. Finally, it’s also worth checking out the Learn2Trade website – where you will find hundreds of free educational guides and courses.

There is no guarantee that you will make money with this provider. Proceed at your own risk.

4. Forex.com 

Forex.com is a major player in the forex trading scene. This heavily regulated online broker allows you to trade over 80 forex pairs – covering a wide variety of majors, minors, and exotics.

In a similar nature to AvaTrade, Forex.com offers support for MT4 – meaning users can install an automated trading file with ease. In fact, Forex.com is clearly a proponent of automated trading, as it offers 20 forex EAs to choose from.

These EAs are backed by custom indicators – Pivot Points, Sentiment Trader, and an Alarm Manager. These popular forex EAs are fully customizable. In addition to this, Forex.com also offers a fully-fledged MT4 VPS hosting facility.

forex.com EAs

For those unaware, this is a crucial requirement if you plan to have your automated trading platform operational 24/7. After all, the automation requires an obscene amount of processing power. Plus, by utilizing a VPS, you can keep track of your forex trading platform robot via the MT4 app in real time.

In terms of the specifics, Forex.com – which is US-friendly, has no minimum deposit in place when finding your account via bank wire. If opting for a debit/credit card, the minimum stands at $100. Either way, you can choose from several accounts – one of which offers commission-free trading.

Forex.com fees

Fee Amount
CFD trading fee Variable spread
Forex trading fee Spread. 0.2 pips for EUR/USD
Crypto trading fee N/A
Inactivity fee $15 a month after 365 days
Withdrawal fee Free

80% of retail investors lose money trading CFDs at this site.

5. NinjaTrader 

ninjatrader review

NinjaTrader offers brokerage accounts and services for futures and options and also home to one of the most extensive automated trading software libraries in the space.

In fact, the platform offers over 1,000+ trading software add-ons – covering everything from charting tools, technical indicators, simulators, and more. With more than 600+ app developers using NinjaTraders, the platform is particularly useful for programmers and those looking to build an advanced trading process from the ground-up.

ninjatrader strategies

The platform is targeted at experienced traders rather than beginners. With that said, the NinjaTrader Ecosystem does contain over 100+ automated trading strategies that can be installed directly into the platform via an API. These strategies are based on historical data and pre-build trading conditions – meaning that the auto trading software will buy and sell on your behalf without any manual trading requirement.

Although the strategies are provided by third-party vendors – there is a simple, risk-free way to test them out. Use the NinjaTrading demo account facility and see how the automated platform performs. Users can view reports in real-time, allowing you to amend, be interactive and tweak the algorythm until it meets the desired strategy.

When the strategy is ready to start trading in live conditions, this can be facilitated via the NinjaTrader brokerage platform. With that said, many top-rated trading platforms – including the likes of AvaTrade, offer full integration with NinjaTrading automated strategies. This will provide access to a much larger asset base at more competitive fees.

80% of retail investors lose money trading CFDs at this site.

How do Automated Trading Platforms Work?

The term automated trading platform is somewhat of a loose one. The reason for this is that it can refer to several types of automated trading tools.

This generally includes:

Fully Automated Trading Platforms

Top-rated provider eToro is an automated trading platform in its truest form. This is because everything is facilitated in-house. By this, we mean that eToro is a regulated brokerage site that offers automated trading tools without requiring you to use a third-party.

As we discussed in our eToro review, this includes its proprietary Copy Trading tool – which allows users to actively trade, invest without lifting a finger or even execute a order entry. All buy and sell positions that your trader chosen places are executed by eToro – on a commission-free basis. This is also the case with its CopyPortfolios.

etoro copy trading

Crucially, by opting for a fully automated trading website like eToro, users don’t need to worry about opening an account with another brokerage site. Plus, there is no need to locate a suitable forex EA or trading algorythm elsewhere – like tarders need to do when opting for an MT4 platform.

Automated Trading Signals

Most investors seeking the best automated trading platforms like to take a fully hands-off approach. This means choosing a trading strategy and investment amount – and then sitting back passively. On the other hand, many investors like to retain an element of control over their trading funds.

As such, another option to consider in the world of automated trading is that of a signal service provider. As we covered earlier, signal platforms like Learn2Trade have the functionality to send trading suggestions throughout the day. These suggestions are sent out by a team of experienced traders that manually scan the markets via chart reading tools and technical indicators.

A Learn2Trade signal would look like the following:

  • Asset: EUR/AUD
  • Order: Buy
  • Entry Price: 1.5573
  • Take-Profit: 1.5609
  • Stop-Loss: 1.5502

As per the above, once you receive the signal in real-time via Telegram, it’s then simply a case of heading over to your chosen broker and placing the suggested orders. Users can, of course, decide to perform some independent market data research of their own before acting or ignore the signal altogether.

Automated Trading via MT4 Robot

The third option is to use MT4. This third-party trading platform is supported by hundreds of online brokers, and it allows users to install automated robot files. Once the files are installed into MT4, it will then buy, sell, and trade financial instruments automatically.

Everything is fully automated, as the file is only tasked with following pre-built algorithms installed within the software file. The key problem here is that there is no way of knowing whether or not the strategey has what it takes to make consistent profits and profitable trades.

mt4 robot

After all, their are thousands of providers selling their so-called ‘expert’ files – but rarely do they have the capacity to outperform the market. As such, if you do opt for an automated trading platform via an MT4 broker, just make sure that you do some backtesting on the robot for at least a month in demo account mode before risking any capital.

Note: Automated trading robots are also known as forex EAs. The former covers all asset classes while the latter is currency trading specific.

How to Choose the Best Automated Trading Platform for You

There are many things that you need to think about before choosing the best automated trading platform for your needs. Crucially, not only will you be risking your own money – but you are handing the decision-making investment process over to a third-party.

With this in mind, we suggest making the following considerations in your search for the best automated trading software reviews of 2022.

What Types of Auto Trading it Offers

Your first port of call is to assess what type of auto trading platform you will be joining. We explained the three main types of platforms in the sections above.

But, to recap, your options are as follows:

  • Fully Automated Trading: A fully automated trading experience – and your chosen platform doubles up a brokerage firm. This means that everything is conducted in-house.
  • Semi-Automated Trading via Signals: Your chosen provider will send you trading signals in real-time. You are then required to place the suggested trades with an online broker.
  • Automated Trading or Forex EA: This option requires you to download and install a file/EA into MT4. You must choose an online broker that is compatible with MT4 and permits automated trading.

Can you Verify Results?

Most automated trading platforms in the online space have one thing in common – they make super-bold claims about how much money you can make. But, rarely do these claims come to fruition. As such, it’s fundamental that you are able to verify whether or not the automated trading platform is legitimate and credible.

verify automated trading results

Past performance is not an indication of future results

How you are able to do this will depend on the type of automated trading platform you go with. For example, if using the Copy Trading tool on eToro, you have access to key data. This includes the trader’s historical returns, risk rating, preferred asset, maximum drawdown, and more. This allows you to make an informed decision in a transparent way.

If you are opting for a signal provider or third-party robot supplier, then being able to verify their results is a lot more challenging. This is because unless the provider has signed up with a platform like MyFXBooks – which allows signal/robot sellers to publicly display their trading results, it’s impossible to know how good the system is without testing it yourself.

Assets

Irrespective of which automated trading platform you go with, you need to have a think about which assets you wish to gain exposure to. For example, if using an automated robot – it will likely specialize in a particular marketplace, like forex or crypto. This is also the case with signal providers.

etoro forex pairs

Fees

Once again, fees in the auto trading scene will vary wildly depending on the type of platform you seek. The main fees that need to be considered are as follows:

Revenue Share

If opting for an automated trading platform that allows you to copy a trader like-for-like, there is every chance that a revenue share fee will be in place. This means that the trader will collect a percentage of all profits that it makes for you.

For example:

  • Let’s say that the automated trading platform has a revenue share of 10%
  • You invest $2,000 into a stock trader
  • At the end of month one, the trader has made returns of 20%
  • On a $2,000 investment, this means you have made gains of $400
  • The trader will collect their revenue share of 10%, so on a $400 profit, that’s $40
  • This leaves you with gains of $360

Robot/EA Purchase Fee

If using an automated trading platform via MT4, then you will need to purchase a robot or forex EA from a third-party provider. As such, this is a direct fee that you need to factor in. In all but a few rare cases, this will be a one-time fee. After that, you can use the robot/EA for as long as you like.

Monthly Subscription 

If opting for automated trading signals, then you will need to pay a monthly subscription fee. After all, the signal provider will be scanning the markets on your behalf and telling you what trades to place.

Brokerage Fees 

Don’t forget, you still need to use an online broker when using an automated trading system. Whether you opt for signals or an MT4 robot, you need a platform to facilitate your buy and sell positions.

This will, of course, attract brokerage commissions and fees, which you will normally need to pay every time a trade is placed.

Regulation

FCA regulated forex trading platforms UK

Make no mistake about it – automated trading robots and signal providers are not regulated. They don’t need to be, as they are not offering financial services of any sort.

Instead, they are merely supplying trading suggestions and/or software. With this in mind, the automated trading platform does not answer to a regulator or financial body of any sort.

As such, this opens up the doors to a murky ‘trading system’ industry that is known for making overly bold claims of ‘guaranteed’ returns.

Customer Service

In our search for the best automated trading platform of 2022, we came across a number of providers that offer no customer service whatsoever. Well, they offer an online support ticket system, but rarely did we receive a reply to our queries.

On the flip side, all the automated trading platforms that we have discussed on this page offer top-rated customer support. This often comes via a Live Chat facility, so you can speak with an agent in real-time.

Demo Account

Perhaps the most important safeguard that stands between you and your chosen automated trading platform is that of a demo account facility. This is the case irrespective of the typer of auto trading provider you opt for. Crucially, demo accounts allow you to try the automated product out without needing to risk any of your trading capital.

best automated trading platforms

This is particularly important in the case of automated trading signals and robots.  After all, there is no sure-fire way of knowing how legitimate the provider is with its claims.

For example, you could test each and every trading signal out via a brokerage demo account – meaning that the entire process is risk-free. In the case of robots and forex EAs, all you need to do is install the software onto MT4 and then run the platform on demo mode.

Conclusion

The best automated trading platforms offer a service that is suitable for investors of all shapes and sizes. In most cases, those with little to no experience of investing online are attracted to automated trading, as there is no requirement to perform any technical or fundamental research.

Similarly, even those that know how to invest well will often opt for an automated copy trading platform – as they simply don’t have the time to actively invest. The most challenging part of the process is finding a suitable automated trading platform for you and your financial goals.

67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

FAQs

Is Automated trading profitable?

It can be, but there are no guarantees and you should always proceed at your own risk. The key problem is that it is often difficult to verify the results of an automated trading system without testing it out yourself. This is why you should always backtest the algorithmic trading product before risking your own capital. .

Can you automate day trading?

Yes, there are several ways in which you can automate day trading. One option is to obtain a trading robot and install it into MT4. The robot will then trade on your behalf 24 hours per day. Perhaps a more reliable way of automating your day trading endeavours is to the eToro Copy Trading too. This allows you to copy a skilled day trader like-for-like in a fully regulated environment.

Are automated trading platforms a scam?

Unfortunately, many automated trading platforms are a scam. This is because they promise unprecedented financial returns or guaranteed profits, but in most cases, rarely is this the case. There are, however, a number of transparent automated trading platforms that are worth looking into. Notably, this includes eToro, AvaTrade, and Forex.com - all of which are regulated.

What is a forex EA?

A forex EA (expert advisor) is another term for an automated trading robot. You will install the forex EA into a third-party platform like MT4, MT5, or cTrader. In doing so, the EA will buy and sell currency pairs on your behalf.

Is BOT trading legal?

Yes, bot trading is legal in most jurisdictions. You must, however, ensure that your chosen platform allows bot trading.

What is the best automated trading platform for signals?

If you're looking for a top-rated signal provider, Learn2Trade seems to very popular in this space. With more than 11,500 Telegram group members, Learn2Trade specializes in crypto and forex signals.

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