Automated trading is the modern way of reducing investment risks irrespective of your trading experience or the types of products you want to invest in. Even though collecting trading information in current markets is quite easy, however, to eliminate the risk to almost none can still require years of experience and patience. That is why automated trading came into existence.
As the name suggests, best automated trading platforms use AI algorithms, historical data, and other factors to either provide you with the data you need for risk-free manual trading or to handle the trading part for you. Most of the automated trading platforms charge fees, so you will have to choose the platform depending on your resources.
Types of automated trading platforms
These best automated stock trading software are divided into three crucial categories. These categories offer different features and levels of assistance to help you in making foolproof trading decisions. These categories are –
- Fully-automated trading platforms – Under this automated trading system, a single platform will provide you with the data and take care of the trading part on your behalf. On such platforms, everything is done by machines.
- Semi-automated trading platforms – These automated stock trading apps include a few manual parts as well, hence the name. You will have to pick a preferred trading platform that will provide you with reliable investment insights in real-time. Using this information as a reference, you will have to make trades with an online broker of your choice. So, in such systems, the decision-making process is automated.
- Automated trading robots – To execute trades with ATR, you will need to install a robot into MT4 after picking an online broker compatible with MT4 and supporting automated trading. These robots will use the data to make trades on broker platforms of your choice on your behalf.
Tips to pick these top trading platforms
Currently, there are plenty of options existing on the list of top trading platforms. Thus, it has become crucial to keep a few things in mind while selecting the best possible option. Furthermore, for your reference, we include a few tips that you can consider before finalizing your top trading platforms.
- Demo accounts – Plenty of automated trading platforms come with demo accounts to give you a glimpse into features that you can expect. These demos also save your trading capital from any loss because before you start actual investments and fully trust investment robots, you can check how legitimate results will turn out to be.
- Regulations – Your preferred automated trading platform has to match regulations set by regulatory bodies such as FCA, CySEC, or any other bodies in your region. However, most of these platforms are not regulated by such bodies so that is something you might want to crosscheck.
- Customer service – Quality of customer service should be a significant factor that you consider in shortlisting platforms. In this blog, we will shortlist names with amazing customer service assistance.
- Brokerage fees – Most of the brokers on these platforms charge commissions or brokerage fees. Before shortlisting these platforms, ensure these fees fit your budget.
- Purchase fee – To trade via MT4, you will have to purchase a robot or a Forex EA from a provider. These purchases will cost you a one-time fee.
- Revenue share – Almost all traders will charge a revenue share on your gains. Whatever you make on investments, a percentage of that will be charged by the trader so before signing up for a service, review these percentages as well. Your total gain will be calculated after deducting these revenues according to percentages charged by the trader.
- Types of investments – Not all platforms support all types of investments. Thus, be it cryptos, forex, or commodities, you have to pick the platform supporting your investment preference.
Best automated stock trading softwares
Furthermore, we are discussing a few best auto trading softwares according to the categories of investments that they support. So, without further ado, let’s dive right into the list-
1. Pionex
2. AvaTrade
3. Bitcoin Era
4. Forex.com
5. NinjaTrader
Wrapping Up
The major advantage of the best-automated trading software is that traders of all experience levels can quickly understand their processes. Simply by leveraging features like demo accounts or low deposits, automated trading software helps new traders in gaining good practical trading experience with the least possible risks.
If you are looking for a way to take your trading software to the next level, then you should definitely consider using the guidance of mobile advertising companies. Not only will this help users trade more efficiently and effectively, but it can also help you make more money.
Content Source: https://www.mobileappdaily.com/best-automated-trading-platform
