Forex Brokers with Automated Trading Platforms
- Written By thinkforexbrokers
- Updated:
Forex trading is the largest financial market globally, with approximately 10 million participants around the world. Regardless of experience level—beginner or expert—all Forex traders aim for the same outcome: turning a profit. Making informed decisions based on analysis and well-defined strategies can lead to success. However, creating a solid trading strategy can be challenging, particularly for newcomers. Fortunately, algorithmic trading software is available to help streamline the process and enhance your trading performance.
74-89 % of retails CFD accounts lose money
73.85 % of retails CFD accounts lose money
Trading leveraged product is risky
74-89% of retails CFD accounts lose money
75.5 % of retails accounts lose money
The vast majority of retail client accounts lose money
69% of retails accounts lose money
Etoro
73 % of retails accounts lose money
75% of retails investor accounts lose money
Automated trading tools execute orders based on logical patterns, data analysis, and profit opportunities. Unlike human traders—who may be influenced by emotions, biases, or hesitation—automated software removes these psychological barriers, enabling trades to be placed instantly when favorable conditions arise. One of the key advantages of automated trading is its ability to operate independently, even when you’re not actively monitoring your account. The system scans the markets and executes trades automatically, based on pre-set parameters you define.
In this guide, we’ll explore everything you need to know about automated trading. We’ll also highlight the 12 best Forex brokers that support automated trading software and are highly compatible with algorithmic trading strategies.
What is Automated Trading?
Manual trading requires you to make decisions yourself and manually open or close trades, while automated trading software handles these actions for you based on pre-defined rules. When using automated trading, you set specific criteria that determine when trades should open or close. This includes important money management settings, such as defining a maximum loss limit—ensuring the system stops trading if losses exceed a certain threshold.
There are various types of automated trading software available, often built around technical indicators or economic data to detect market trends. These programs remove emotional influences and human error, relying solely on logic and preset strategies. They continuously scan the Forex market to find currency pairs that match your criteria, and once a suitable opportunity is detected, the software automatically executes the buy or sell order.
Automated trading can be beneficial for all types of traders, especially those focused on exploiting spreads rather than interest rates. These systems can quickly identify price inefficiencies and instantly act on them, aligning with the goals of currency speculators.
Beyond spreads, many other technical signals—like moving average crossovers, support and resistance levels, or chart patterns such as triple tops and bottoms—can also trigger automated trades. The key advantage of using this software is convenience: you don’t need to constantly monitor markets, interpret charts, or stay up-to-date with financial news. The automated trading system handles everything for you—even executing trades when you’re away from your account.
Top 12 Forex Brokers Offering Automated Trading Platforms
1. Fusion Markets
Fusion Markets offers traders access to some of the most favorable trading conditions in the industry. With over 90 currency pairs, tight spreads, and lightning-fast order execution, it appeals to a broad range of traders—from beginners to professionals. Users can choose from several popular trading platforms, including MT4, MT5, and cTrader, all of which support automated trading through custom-built Expert Advisors (EAs) or pre-configured algorithmic tools.
In addition to these platforms, Fusion Markets supports DupliTrade, a powerful copy trading service that allows you to replicate another trader’s strategy directly into your own MT4 account. For those looking for a more integrated solution, the proprietary Fusion+ platform offers free copy trading—available to clients who trade at least 2.5 lots per month in forex and metals.
Gleneagle Asset Management Limited (ABN 29 103 162 278) trading as Fusion Markets, is the issuer of the Fusion Markets Products described in this communication. Trading in Fusion Markets Products involves the potential for profit as well as the risk of loss which may vastly exceed the amount of your initial deposit and is not suitable for all investors. You should read all of these Financial Product Service Terms, the Product Disclosure Statement (PDS) and the Financial Services Guide (available on our website) carefully, consider your own financial situation, needs and objectives for investing in these Fusion Markets Products and obtain independent financial advice.
2. Pepperstone
Pepperstone is a well-established retail broker known for offering access to a wide range of tradable markets, including over 90 currency pairs in its Forex offering. It’s especially popular among traders for its competitive pricing—particularly with the Razor account, where spreads on major currency pairs can start from as low as 0.0 pips.
Traders can choose from several advanced trading platforms, including MT4, MT5, cTrader, and TradingView. All of these platforms support automated trading, enabling users to develop, backtest, and deploy Expert Advisors (EAs) or other algorithmic trading tools with ease. This makes Pepperstone an attractive option for traders looking to integrate automation into their strategies.
CFDs are complex financial instruments and carry a high risk of rapid loss due to leverage. With this provider, 75.5% of retail investor accounts lose money when trading CFDs. You should carefully consider whether you fully understand how CFDs work and whether you can afford to take the high risk of losing your money.
3. Eightcap
Whether you’re just starting out or are a seasoned Forex trader, Eightcap offers excellent trading conditions suited to all experience levels. With access to over 40 currency pairs and a range of tradable markets, Eightcap provides a solid foundation for both manual and automated trading.
Clients can choose between the popular MT4 and MT5 platforms, both of which support the development and deployment of Expert Advisors (EAs) for algorithmic trading. Additionally, Eightcap’s proprietary FlashTrader tool gives users enhanced control, allowing them to set automatic triggers and stop levels—making it easier to manage risk while trading with bots.
CFDs are complex instruments and involve a high risk of losing money quickly due to leverage. With this provider, 76.09% of retail investor accounts lose money when trading CFDs. You should carefully consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
4. FP Markets
If you’re seeking top-tier trading conditions, FP Markets stands out as a leading retail broker. With access to a broad range of CFD markets, it’s especially well-suited for Forex traders—offering over 60 currency pairs to trade.
To cater to different trading styles and preferences, FP Markets supports a variety of platforms including MT4, MT5, cTrader, WebTrader, and more. All of these platforms are compatible with algorithmic and automated trading, enabling users to deploy Expert Advisors (EAs) or develop custom trading algorithms to automate their strategies effectively.
CFDs are complex instruments and carry a high risk of losing money rapidly due to leverage. With this provider, 72.92% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
5. BlackBull Markets
BlackBull Markets is a reputable Forex broker renowned for its outstanding trading conditions, making it an ideal choice for automated trading enthusiasts. Offering a broad selection of markets, including Forex and CFDs, BlackBull is regulated by both the FMA and FSA. It supports popular platforms like MT4, MT5, and cTrader, ensuring smooth and efficient automated trading experiences.
Traders can take advantage of Expert Advisors (EAs) or create custom algorithms to effectively execute their trading strategies. With tight spreads, competitive leverage, and fast execution speeds, BlackBull Markets is well-equipped for those seeking to optimize their Forex trading through automation.
6. Global Prime
As a Forex trader, selecting a broker with the best trading conditions is essential. Fortunately, Global Prime is a seasoned retail broker that meets the needs of diverse traders, including Forex investors. Although the broker plans to launch new platform options soon, it currently supports only MT4. Despite this, MT4 remains highly convenient for automated trading, offering a broad array of tools perfect for executing your Forex strategies in upcoming trading sessions.
Global Prime is a trading name of FMGP Trading Group Pty Ltd (ABN 74 146 086 017) and is regulated by ASIC. It operates under Australian Financial Services License No. 385620, authorizing it to carry on financial services in Australia. Additionally, Gleneagle Securities Pty Limited, trading as Global Prime FX, is a registered company in Vanuatu (Company Number 40256) and regulated by the VFSC. The Global Prime website is owned and operated by FMGP Trading Group Pty Ltd.
7. XM Group
When it comes to Forex trading, XM stands out as a top choice for a wide range of investors. Committed to providing a fair and secure trading environment, XM offers multiple account types with competitive pricing on over 50 currency pairs. Traders at XM can use both the MT4 and MT5 platforms, which support a variety of advanced trading tools. This allows clients to create their own algorithms or utilize preset Expert Advisors (EAs), enabling real-time algorithmic and automated trading.
Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 72.82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
8. eToro
eToro is not only a well-respected retail broker but also a highly popular platform, largely due to its strong focus on social trading. Catering to Forex traders, eToro offers more than 40 major, minor, and exotic currency pairs across a variety of markets. Clients trade using eToro’s proprietary platform, which includes the innovative CopyTrader feature—allowing users to replicate the trades of successful investors automatically. Emphasizing community and interaction, eToro also enables users to connect with other traders, share insights, and discover top-performing traders to follow and copy.
CFDs are complex instruments and carry a high risk of losing money rapidly due to leverage. With this provider, 61% of retail investor accounts lose money when trading CFDs. You should carefully consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
9. AvaTrade
AvaTrade is a well-established Forex broker that has been operating since 2006. Known as one of the top market makers globally, AvaTrade provides competitive pricing and fast execution speeds to help minimize slippage. Alongside popular platforms like MT4 and MT5, AvaTrade offers several additional platforms tailored for automated trading.
For those interested in social trading, AvaSocial connects you to a large community of Forex investors, enabling you to copy their trades. The broker also supports DupliTrade and ZuluTrade, giving clients multiple options to follow and replicate the strategies of successful traders.
CFDs are complex instruments and carry a high risk of losing money quickly due to leverage. With this provider, 76% of retail investor accounts lose money when trading CFDs. It’s important to carefully consider whether you fully understand how CFDs work and if you can afford the high risk of losing your money.
10. IG
When it comes to top Forex brokers, IG firmly ranks among the best for currency pair trading. With extensive industry experience, competitive pricing, and a wide range of tradable markets, IG is a popular choice for traders worldwide. The broker supports algorithmic trading, allowing clients to build, test, and implement their own trading strategies.
IG’s ProRealTime platform lets traders develop strategies and thoroughly test their performance before applying them to automated trading. For those with coding skills, IG also offers native APIs to create custom algorithms. Additionally, traders can run their own Expert Advisors (EAs) within the MT4 platform when trading currency pairs at IG, providing flexibility and powerful automation options.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70% of retail investor accounts lose money when trading CFDs with Tickmill Europe Ltd. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
11. Axi
Launched in 2007, Axi is a global Forex and CFDs brand that supports automated trading systems. Both beginners and experienced traders can enhance their performance using Axi’s MetaTrader 4 algorithmic trading solutions. These tools can be applied not only to Forex but also to other markets like shares, indices, and commodities.
By incorporating Forex robots into their strategies, traders benefit from time savings by reducing manual interventions and eliminating emotional decision-making. Additionally, using Expert Advisors (EAs) helps diversify portfolios. However, since many EAs are designed for MT4, it’s important for traders to monitor their performance regularly to ensure long-term profitability. Opening a demo account is highly recommended, as it allows users to test Forex robots in a risk-free environment before committing real funds.
CFDs are complex instruments and carry a high risk of losing money quickly due to leverage. The vast majority of retail client accounts lose money when trading CFDs. It’s important to carefully consider whether you fully understand how CFDs work and whether you can afford to take the high risk of losing your money.
12. ActivTrades
ActivTrades is a well-established Forex broker serving clients worldwide since 2001. It is regulated by several authorities, including the FCA (UK), CMVM (Portugal), CONSOB (Italy), SCB (the Bahamas), BACEN (Brazil), and FSC (Mauritius), ensuring a high level of trust and security. ActivTrades offers access to over 1,000 CFD tradable assets.
The broker provides competitive trading costs, with zero commissions and spreads starting as low as 0.5 pips on major currency pairs. Both retail and institutional traders can benefit from automated trading options, supported by a robust API that enables extremely fast execution of automated orders.
CFDs are complex instruments and carry a high risk of losing money quickly due to leverage. With this provider, 75% of retail investor accounts lose money when trading CFDs. You should carefully consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Forex Brokers with Automated Trading Platforms Ranked by Trustpilot Score
Forex Broker | Trustpilot Reviews | |
8,641 | ||
10,141 | ||
3,162 | ||
247 | ||
3,022 | ||
27,550 | ||
3,052 | ||
1,978 | ||
7,895 | ||
2,513 | ||
Comprehensive Comparison of the Top 10 Forex Brokers with Automated Trading Platforms
Forex Broker | Account Minimum | Account Types | Number of FX pairs | Min Spread | Commission | Max Leverage | Platforms | Regulators | Trust Pilot Rating |
$50 (AU$100) | Standard, Raw, Demo, Professional, Islamic | 70+ | 1.0 pips Standard; 0.0 pips Raw | $0 Standard Account; $6 round turn on Pro Account | 1:30 (Retail) 1:500 (Professional) | MetaTrader4, MetaTrader5, WebTrader, IRESS, cTrader, TradingView | ASIC, CySEC, FSA (Seychelles), FSCA, FSA (St. Vincent and the Grenadines), SCB (Bahamas) | ||
$100 | Retail, Professional, Islamic, MAM | 50+ | From 0.9 pips (retail), 0.6 pips (pro) | $0 | 1:30 (1:400 for Pro and Non-EU Accounts) | MetaTrader4, MetaTrader5, WebTrader, AvaTade App, AvaSocial, AvaOptions, DupliTrade | FFAJ (License No.1574), CySEC (No. 347/17), ISA (No. 514666577), IIROC, ADGM / FSRA (No.190018), CBI (No.C53877), BVIFSC (No. SIBA/L/13/1049), FSCA(No.45984), ASIC (No.406684), JFSA (No. 1662) | ||
$0 | Zero, Classic, Islamic, Demo, Professional | 80+ | from 0.9 pips Classic; from 0.0 pips Zero | from 0.9 pips Classic; from 0.0 pips Zero | 1:30 for ASIC Entity (1:500 for VFSC Entity) | MetaTrader4, MetaTrader5, cTrader, DupliTrade, Fusion+ Copy Trade, TradingView | ASIC, FSA (Seychelles), VFSC (Vanuatu) | ||
$0 | Standard, Raw, Demo, Professional | 56 | 0.9 pips Standard, 0.0 pips Raw | $0 Classic Account, $4.50 round turn on Zero Account | 1:30 (Retail) 1:500 (Professional) | MT4, MT4 Webtrader, MT4 Android; for VFSC clients MT4, MT5, and GP Copy | ASIC (No. 385620), VFSC (No. 40256) | ||
$0 | Standard Account, Razor Account | 90+ | From 0.0 pips (Razor Accounts), 1 pip (Standard Accounts) | $0 (Standard Account), $7 round-turn (Razor Account) | 1:30 (Retail ASIC, CySEC, FCA); 1:500 (Professional); 1:400 (CMA) | MetaTrader 4, MetaTrader 5, cTrader, TradingView | ASIC (No. 414530), UK FCA (No.684312), CySEC (No. 388/20), BaFin (No.151148), DFSA (F004356), CMA (128), SCB Bahamas (SIA-F217), FSA (SD108) | ||
$50 to $100 (varies in different jurisdictions) | Crypto Wallet (eToro Money), Retail, Professional, Corporate, Demo, Islamic | 55 | From 1 pip | $1 or $2 (stocks only) | 1:30 (FCA, ASIC, CySEC); 1:400 (FSA) | eToro Investing, eToro App, TradingView, eToro CopyTrader, Proprietary | FCA, CySEC, ASIC, MFSA, FSRA, FSA, FINRA/FinCEN, AMF, SEC, GFSC | ||
$100 | Standard, Raw, TradingView Account | 50+ | 0.1 pips on Standard and TradingView Accounts; 0.0 pips Raw Accounts | $0 on Standard and TradingView Accounts; $7 round turn on Raw Accounts | 1:30 (ASIC, CySEC) 1:500 (FSA) | MetaTrader4, MetaTrader5, WebTrader, TradingView, Capitalise.ai, FlashTrader | SCB (No. SIA-F220), ASIC (No.391441), CySEC (No. 246/14), FCA (No. 921296), SCA | ||
$100 | Trade (Standard), Invest (MT5), Zero | 82 | From 0.0 pips (Invest and Zero Accounts), 0.5 pips (Trade Accounts) | 1:30 (Retail) 1:500 (Professional) | 1:30 (Retail) 1:500 (Professional) | MetaTrader4, MetaTrader5, WebTrader, MT Supreme Edition, StereoTrader | CySEC (No. 201/13), ASIC (No. 410681), FCA (No. 595450), JSC (No. 57026), FSCA (No. FSP51311), EFSA (No. 4.1-1/46), CMA (No. 178), CIRO, FSA (No.SD073) | ||
$0 | Spread Betting Account, CFD Trading Account, Limited Risk Account, DMA Account, Islamic, Professional, Demo, Options and Share Dealing Accounts* | 100+ | from 0.6 pips Forex trading; 0.165 pips av. spread DMA trading | 1:30 (Retail) 1:500 (Professional) | $0 | MetaTrader4, L2 Dealer, ProRealTime, IG proprietary software, TradingView, | ASIC, FCA, DFSA, CFTC, FMA, FINMA, BaFin, MAS, JFSA, FSCA, BMA (Bermuda) | ||
$5 | Demo, Standard, Micro, Ultra Low, XM Zero, Shares Account, Islamic Account | 50+ | From 0.0 pips (Zero Account), from 0.8 pips (Standard and Micro Accounts) | 1:30 for CySEC and ASIC Entities (1:1000 for Other Jurisdictions) | $/€0 on Standard, Premium and Prime Accounts; $/€2.5 per side per lot for Elite Accounts | MetaTrader4, MetaTrader5, MT4 WebTrader, MT5 WebTrader, MT4 Multiterminal, XM App | CySEC (license no. 120/10), (ASIC) (ref. no. 443670), FSC Belize (license no. 000261/27), FSC of Mauritius (GB23202700), FSA Seychelles (SD190), DFSA (ref. no. F003484), FSCA (49976), Registrations for EU passporting: - BaFin, CNMV, MNB, CONSOB, ACPR, FIN-FSA (Finland), KNF, AFM, FI |
Types of Automated Trading
As mentioned earlier, automated trading software comes in various forms, utilizing different charts and data sources to identify trends that signal potential trading opportunities. Broadly, there are two main types of automated trading based on how the criteria for opening and closing orders are set.
The first type is copy/social trading, which has gained popularity for automatically replicating the trades of experienced investors. This method still lets you set certain conditions for your trades but mainly focuses on mirroring the strategies of other traders. Platforms like ZuluTrade and DupliTrade, often integrated with MetaTrader, support this style. These tools track and automatically execute trades identical to those of selected expert traders. While copy trading is widely used, it does require some time and research to identify which traders’ strategies align with your goals and risk tolerance.
The second type involves automated trading bots. Unlike copy trading, bots don’t rely on other traders’ decisions; instead, they operate based on algorithms you define or purchase as Expert Advisors (EAs). These bots continuously monitor market conditions and execute trades whenever predefined indicators suggest a profitable opportunity.
Both social trading and bot-driven automation have their own advantages and drawbacks. Your choice depends on your trading experience, available time, and personal preferences in managing your trades.
Best Automated Trading Platforms
Fortunately, most reputable retail brokers provide popular trading platforms that support both social/copy trading and the use of Expert Advisors (EAs) for algorithmic trading. Whether you prefer copying experienced traders or running your own automated strategies, choosing the right platform is key to ensuring a smooth and profitable Forex trading experience. Knowing which platform best fits your style and needs will help you make the most of automated trading.
Whether you’re new to Forex trading or a seasoned currency trader, you’ve likely heard of MetaTrader 4 (MT4). As one of the earliest platforms designed specifically for online trading, MT4 has become accessible to traders of all levels and widely adopted across the industry. It also supports a variety of tools, including copy/social trading features. MT4 enables users to develop, test, and deploy Expert Advisors (EAs) in their Forex trading sessions. Thanks to the MQL4 Integrated Development Environment (IDE), traders can create their own automated strategies and use trading bots that automatically execute orders based on the indicators they’ve programmed to monitor within the Forex market.
MetaTrader 5 (MT5) is regarded as the more advanced successor to MT4, offering enhanced features for traders. Like its predecessor, MT5 supports the use of trading bots for algorithmic (automated) trading. With the integrated MQL5 IDE, traders can develop, test, debug, and deploy sophisticated trading bots, making MT5 a powerful platform for automated Forex trading strategies.
While MT4 and MT5 are widely supported by many retail brokers, numerous brands have also embraced the cTrader platform. cTrader offers a modern and innovative environment for Forex trading, featuring advanced tools such as automated trading through cBots, customizable indicators, and algorithmic plugins. Traders using cTrader Desktop can develop their own indicators, cBots, and plugins, which can then be deployed to execute automated trades based on in-depth market analysis. This makes cTrader a powerful option for those seeking flexible and sophisticated algorithmic trading solutions.
As mentioned earlier, copy/social trading is another popular form of automated trading for Forex traders. One well-known platform for this is DupliTrade, offered by several major retail brokers. DupliTrade allows users to select a strategy provider—an expert trader—to automatically copy. Additionally, clients can customize their trading parameters to better align with their own risk tolerance and preferences while mirroring the strategy provider’s orders.
Social automated trading is also widely popular on the ZuluTrade platform, which is supported by several reputable retail brokers. Expert traders can register to share their strategies, and ZuluTrade ranks their performance using its proprietary ZuluRank system. This ranking helps investors identify and select top traders to automatically copy their positions. To find the best fit, users can apply over 40 filters based on metrics like profit, drawdown, and trading style. Additionally, ZuluTrade offers ZuluGuard, a risk management tool that safeguards investors by adjusting or pausing strategy copying if a trader’s performance suddenly changes, helping to minimize potential losses.
Pros and Cons of Automated Trading
If you’re still unsure whether automated trading fits your Forex goals, it helps to weigh the advantages and disadvantages of using such software. Here’s a clear comparison of the pros and cons of automated trading for your Forex trades:
- Key Pros
- Trades are based solely on algorithms and logic, eliminating the emotional element
- Suitable for busy investors, allowing automated trades even when traders are not logged into their trading accounts
- Optimizes trading, allowing opening and closing trades at the most profitable price points
- Automated trading is implemented into all popular trading platforms adopted by top-notch brokers
- Key Cons
- Finding the right expert to copy when mirroring/copying trades can require some time and extra research
- Not every trader can develop successful trading algorithms, which often leads to purchasing EAs available online
- Automated trading can be quite risky, requiring regular strategy adjustments that may require more of your free time
FAQs
The use of automated trading software is legal and can be used in several markets, including Forex. There are no legal restrictions forbidding the use of trading bots or copy trading tools whenever you are trading currency pairs. However, we suggest making sure that the broker of your choice has not imposed any restrictions on the use of automated/algorithmic trading platforms.
While it is true that all popular Forex trading platforms allow the use of automated trading tools, you should keep in mind that the broker might allow the use of this type of trading tool. That said, the majority of reputable brokers have adopted a wide range of trading platforms that allow the use of a wide range of automated trading tools.
Automated trading is quite convenient for some traders but it is not necessarily more profitable than placing your Forex orders yourself. That said, automated trading can spare you some time required for proper market monitoring, enabling quick order executions whenever the software indicates potentially profitable market movements.
Copy trading and social trading do share a lot of similarities, allowing traders to make automated trades based on the act of mirroring the trades of more experienced Forex investors. However, copy trading lacks the social element, enabling instant duplicating of trades, without having any further interaction with the expert you copy. Meanwhile, social traders are constantly communicating with each other, comparing strategies, and making the whole trading process a lot more interactive.
Like any other type of technology, automated trading can experience some technical failures. Luckily for traders, many platforms that allow the development of trading bots also enable testing and debugging of any failures. That said, you cannot rely on automated trading to be fail-proof all of the time.
