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.
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
This best-automated trading software offers 16 free built-in trading bots. More than 100 million trades are done on this best automatic trading platform every day. On average, the monthly trading volume of this automated trading software crosses $5 billion and it has been active for over 1000 days already. On Pionex, you can register for free and the trading fee offered by this automatic trading app might be one of the lowest trading fees you will pay on such platforms.
2. Bitcoin Era
In the third position, we are including this best-automated trading software that claims a success rate of 85%. The AI-supported software uses historical data to make decisions on your behalf and accordingly, it makes investments for you. The best thing about this automatic trading platform is that you do not need to pay any trading commissions or account fees. You can use the automated trading software to invest in up to 14 types of cryptocurrencies.
3. Forex.com
On this automated stock trading platform, you will find more than 80 currency pairs, commodities, cryptocurrencies, and thousands of stocks to invest in. You can invest in giant companies like Meta or Amazon with a little amount of money and if you qualify for Active Trader Program, you can also gain rebates. To build the trust, you can always sign up for a Free Demo Account on Forex.com and have a practical look into its features. Forex.com also offers support for MT4 and MT5 and you get over 20 Forex EAs options to pick from as well.
4. NinjaTrader
This automated trading system is a choice of more than 500,000 trading platform users from all over the world. The platform also includes a simulation feature where you can test your trading ideas before making actual trades. Be it automated or manual trading, you have plenty of options to control your trading pattern. The customer service department of the website is also easily accessible via a phone call or an email. If you are considering this one of the best stock trading apps for your investments, you should also know that the platform includes over 100 automated trading strategies as well. Almost all automated trading decisions are based on historical data.
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.
In this blog post, we looked at the future of automated trading software and what that might mean for investors. We spoke with the technological leaders who gave us their thoughts on the future of AI and machine learning in stock trading. While it's impossible to say for certain how these technologies will shape the market, it's clear that they will play a significant role. We hope you found this information helpful and interesting.
Content Source: https://www.mobileappdaily.com/best-automated-trading-platform