Advertising DisclosureWe're committed to the highest standards of editorial integrity. Still, it's crucial to recognize that some products we mention come from our partners.

Here's an insight into how we make money. While we strive to be comprehensive, the compensation we receive can influence the products, companies, or services we showcase and review. Not all available options may be featured on this page.

5 Best AI Forex Trading Brokers and Platforms for 2024

Searching for the top forex AI trading platform? Based on our hands-on analysis, we’ve identified the 5 best options tailored to various trading needs. Practical tips from our experts are included.

By:
Jitan Solanki
Reviewed By:
Ola Alder
Updated: Jun 27, 2024

List of Top AI Forex Trading Brokers and Platforms

Best brokers for US traders

AI trading from MT4 and ProRealTime. Average execution speed of 0.016 seconds. Low spreads and zero commission. Volume-based trading rebates.

Best brokers for international traders

Automated and algorithmic trading from MT4, MT5, and cTrader. Copy trading plugins Myfxbook, ZuluTrade, and IC Social. Ultra-fast order execution. Low trading fees.

Extensive educational materials. Manual and automated trading from MT4, MT5, and cTrader. Articles on building trading robots. Commission-free trading account.

Automated trading from MT4 and MT5. Copy trading via AvaSocial, DupliTrade, and ZuluTrade Multiple commission-free trading account types. VPS hosting.

17,000+ tradable instruments. Low spreads and zero commission. ProRealTime platform for automated and algorithmic trading. Design AI trading system with easy ProBuilder language.

AI in Retail Trading: Transforming Finance

Artificial Intelligence (AI) applications are being deployed at an exponential rate across all industries and sectors. Although the benefits of AI have only recently become apparent to many, it has been utilized in the financial markets for years by a select group of quantitative-based hedge funds. These funds have leveraged AI for high-frequency trading and automated portfolio allocation strategies.

However, the landscape is changing as retail trading brokers begin to offer AI tools to their clients. These include AI-powered trading platforms with automated trading solutions, copy trading facilitated by algorithmic technology, and third-party AI tools designed to scan the markets for trading opportunities.

How did FXEmpire select the Best AI Forex Trading Brokers?

FXEmpire's Methodology

  • We only selected brokers with a high overall score from our proprietary rating system.
  • We verified each broker’s regulatory status and license to operate with the regulator in their region of operation.
  • We checked each broker offers trading platforms that enable AI trading.
  • We examined the availability of high-grade AI trading tools and features.
  • We ensured each broker allowed a range of AI trading strategies.
  • We explored the number of tradable assets on AI trading platforms to ensure a diverse range is available.
  • We opened a live account with each broker to check the fees and ensure they are competitive and transparent.
  • We checked each broker offers high-quality speed and execution.

Our team of experts has identified each broker’s strengths and weaknesses using FX Empire’s comprehensive methodology. Here’s how we test.

Now let’s go through the selected brokers.

Best Overall

Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
  • Min Deposit
    $200
  • Tradable Instruments
    2245
  • Fees
    Low

Founded in 2007, IC Markets offers an exceptional range of features for AI trading on 1,700+ tradable instruments. IC Markets stands out for AI trading with its three premier platforms, five advanced AI tools, raw ECN pricing without requotes, and ultra-fast execution, making it a leading choice among brokers

Broker Features

  • Regulations: ASIC, CySEC, FSA Seychelles
  • Max. Leverage: 1:500
  • AI Trading Platforms: MT4, MT5, cTrader
  • AI Tools: IC Social, Signal Start, ZuluTrade, Trading Central, Autochartist
  • Execution Speed: < 40 ms
  • VPS: Yes
  • API: Yes

The MT4, MT5, and cTrader platforms offer an excellent range of high-grade AI trading tools. All three offer the ability to easily create, test, and execute automated trading strategies. The broker’s free VPS service ensures any trading robots can trade 24 hours a day without interruption. Based on my experience, MT4 and MT5 hold an advantage because the MetaTrader Marketplace provides both free and paid automated strategies accessible to beginners.

IC Markets also features third-party AI trading tools from Trading Central and Autochartist. The latter delivers real-time trading signals with its algorithmic trading robots that identify emerging technical analysis patterns.

The broker is renowned for its ultra-fast trade execution and low spreads — crucial components for successful AI trading. In our live fee test, the EUR/USD spread averaged 0.65 pips, surpassing the industry average of 1.0 pip.

Pros
  • Multiple trading platforms
  • Additional third-party AI tools
  • Raw ECN pricing accounts
  • Free VPS (if trading volume exceeds 15 lots per month)
Cons
  • Some AI features may overwhelm beginners

Best for Beginners

Contracts for Difference (CFDs) are leveraged over-the-counter derivative products and carry a high level of risk to your capital. You should only risk capital that you can afford to lose. In certain circumstances, due to fluctuations in market value you may not get back your initial investment amount. You may not only lose your initial investment but you may incur a liability to pay a further amount to cover losses. This means you can lose more money than you have invested.
  • Min Deposit
    $100
  • Tradable Instruments
    8977
  • Fees
    Low

Established in 2005, FP Markets provides an outstanding AI trading starter package for beginner traders. It features a comprehensive selection of AI trading platforms and tools, complemented by educational resources such as courses, articles, and videos to assist in their utilization.

Broker Features

  • Regulation: ASIC, CySEC, FSCA, Unregulated SVG entity
  • Max. Leverage: 1:500
  • AI Trading Platforms: MT4, MT5, cTrader
  • AI Tools and Features: Trading Central, Autochartist, Signal Start, Copy Trading, Myfxbook
  • Execution Speed: < 40 ms
  • VPS: Yes

FP Markets supports AI trading with platforms such as MT4, MT5, and cTrader. Beginners will benefit from platform video tutorials, which help build confidence in using MetaTrader, and articles that delve into various facets of robot trading.

The broker’s standout AI tools include its copy trading services, notably the FP Markets Copy Trading app and integration with Myfxbook Automate. Copying the trades of successful traders through robots offers a solid introduction to AI trading.

FP Markets provides raw ECN pricing accounts, ensuring deep liquidity and rapid trade execution – key for AI copy trading tools. Trading fees matter as well. In our live fee test for the Standard, commission-free account, we found an average EUR/USD spread of 1.1 pips, close to the industry standard of 1.0 pip.

Pros
  • AI strategies available on demo accounts
  • Raw ECN pricing
  • Zero commission
  • Extensive educational materials
Cons
  • cTrader is not available in all regions

Best for Automated Trading

Trading CFDs and FX Options entail risk and could result in the loss of your capital.
  • Min Deposit
    $100
  • Tradable Instruments
    853
  • Fees
    Medium

Established in 2006, AvaTrade provides a comprehensive array of AI trading tools through the MT4 and MT5 platforms, along with its VPS service. This suite encompasses automated trading, backtesting capabilities, the AvaSocial app, and a third-party copy trading plugin from DupliTrade

Broker Features

  • Regulations: CBI, FSCA, FSRA, ISA, FSC BVI, FSA Japan
  • Max. Leverage: 1:400
  • AI Trading Platforms: MT4, MT5
  • AI Tools: AvaSocial, DupliTrade
  • Execution Speed: < 40 ms
  • VPS: Yes

The MT4 and MT5 platforms are the top choices for automated trading, allowing users to create Expert Advisors in C#, backtest strategies, and run them automatically around the clock with AvaTrade’s VPS. They’re part of one of the biggest online communities for algorithmic trading, making it easy to find help, programmers, and pre-built trading solutions.

The AvaSocial app is another excellent way to use AI trading tools. In partnership with FCA-regulated firm Pelican Trading, the app allows you to view the performance of other traders and copy their trades automatically.

Our live fee test showed an average spread on EUR/USD of 0.9 pips, beating the 1.0 pip industry average.

Pros
  • Tools for AI copy trading
  • Auto-trading platforms
  • Proprietary copy trading app
  • Multiple account types
Cons
  • Inactivity fee of $50 if no activity for 3 months

Best Low Spreads

4.6
70% 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
  • Min Deposit
    $250
  • Tradable Instruments
    17252
  • Fees
    Medium

Founded in 1974, IG is a veteran of the forex and CFD industry and a publicly listed company on the London Stock Exchange. Offering over 17,000 tradable instruments across various AI trading platforms, coupled with low spreads and direct market access (DMA) trading accounts, IG stands out as a leading broker.

Broker Features

  • Regulations: FCA, BaFin, FINMA, DFSA, FSCA, MAS, FSA Japan, FMA New Zealand
  • Max. Leverage: 1:200
  • AI Trading Platforms: MT4, ProRealTime
  • AI Tools: Autochartist
  • Execution Speed: < 40 ms
  • API: Yes

One of the standout features of IG is its compatibility with the ProRealTime trading platform. Available for free (if you place at least four trades in a month), this platform can build algorithms and automated trading strategies using the easy-to-learn ProBuilder language. The ProRealTime community is extensive, offering access to thousands of ready-to-use automated strategies

Manual traders interested in leveraging AI can utilize ProRealTrend trend lines, automatically drawn on charts, or chart pattern signals from Autochartist within the IG Web Trader platform. In our live fee test, the average spread for EUR/USD was 0.75 pips, surpassing the industry average of 1.0 pip.

Pros
  • Low spreads, zero commission
  • Easy-to-use automated trading platform
  • AI trading signals from Autochartist
  • 17,000+ tradable instruments
Cons
  • Range of markets may overwhelm some beginners

Best Overall in the US

Forex trading involves risk. Losses can exceed deposits.
  • Min Deposit
    $250
  • Tradable Instruments
    82
  • Fees
    Low

tastyfx is a new brand name of IG US which expanded into the American market in 2019. US citizens have access to over 80 margin-based forex pairs through MetaTrader 4 (MT4) and ProRealTime platforms for AI trading.

Broker Features

  • Regulations: CFTC, NFA
  • Max. Leverage: 1:50
  • AI Trading Platforms: MT4, ProRealTime
  • Execution Speed: < 27 ms

I regularly use ProRealTime and find its ProBuilder language straightforward and user-friendly. It enables the creation of customized strategy scanners and automated trading strategies, which can then be backtested. Additionally, these strategies can be trialed on a demo account before transitioning to live trading.

The ProRealTime community offers a vast selection of pre-built automated strategies that are easily customizable, providing an excellent starting point for engaging in AI trading.

Over 80 forex pairs are available for trading at tastyfx, including major, minor, exotic, and emerging currencies. The broker distinguishes itself with an impressive average execution speed of 0.016 seconds. Additionally, it offers highly competitive spreads. Our live fee test revealed an average spread of 0.8 pips for the EUR/USD pair, surpassing the industry average of 1.0 pip for a commission-free account.

Pros
  • Tight spreads
  • Fast trade execution
  • AI trading features
  • Volume-based rebates
Cons
  • Only forex pairs available

How to choose a broker for AI trading?

Here is a quick guide on choosing the best broker for AI trading.

Is the broker well-regulated?

When selecting a trading broker, the safety of your funds and conflict-free trade execution should be the top considerations. Opting for a regulated broker enhances the safety of your trading funds and ensures ethical trade execution.

Regulated brokers are subject to oversight by governmental financial authorities, ensuring proper and fair conduct. Failure to adhere to regulations puts a broker at risk of losing their operating license and incurring substantial fines.

While trading with regulated brokers provides a much safer environment, it’s essential to recognize that not all regulatory bodies offer identical levels of protection. Our broker rating reviews classify regulators into three tiers:

  • Tier-1 regulators, such as the UK FCA, IIROC, CySEC, and ASIC, operate in well-established financial jurisdictions and offer the highest level of investor protection. They enforce the segregation of client funds from company funds and implement a negative balance protection policy. The FCA, CySEC, and IIROC also mandate brokers to participate in a compensation scheme covering client deposits up to a specified amount in case of insolvency.
  • Tier-2 regulators, including the DFSA, FMA, and FSCA, are situated in established but lesser-known financial regions. They provide reasonable investor protection but are not as comprehensive as Tier-1 regulators.
  • Tier-3 regulators, like the VFSC, IFSC Belize, and Bahamas SCB, function in offshore locations. These regulators offer the lowest level of investor protection with minimal oversight or rules.

Find Best FCA-regulated brokers and Best ASIC-regulated brokers.

There are also unregulated brokers that I strongly recommend avoiding, as they lack safeguards against fraudulent activities. If an unregulated broker decides to misappropriate your funds, there are no legal avenues available for their recovery.

To verify a broker’s licenses and authorizations, check the online register of the financial regulator in the country where they are located.

Read more about Best regulated forex brokers.

Are the fees transparent and competitive?

Brokers impose fees for the diverse range of services and products they offer. Although brokers may aim to levy higher fees, as a trader, your goal is to minimize these costs. Before opening an account, it’s crucial to clarify all the fees a broker imposes before starting to trade.

Here are some fees to be aware of:

  • Spread: The difference between the buy and sell price.
  • Commission: A fee to buy or sell.
  • Overnight or Swap Fee: The fees for holding a leveraged or margined position overnight.
  • Payments: Fees related to depositing or withdrawing funds.
  • Inactivity: A fee incurred during periods of no trading activity.

To ascertain a broker’s fees, refer to their website, read the terms and conditions documents, or engage with customer support. Alternatively, you can utilize a demo trading account or consult broker rating reviews on FXEmpire, where the team actively opens live accounts, conducts tests, and shares their insights.

Read more about Best lowest spread forex brokers and Best low swaps forex brokers.

Which account type is suitable for AI trading?

From my experience, I’ve observed brokers offering a range of trading accounts, from one to seven. These accounts typically vary in minimum deposit requirements and fee structures, categorized primarily into two types: commission-free and commission-based.

A commission-free trading account does not charge fees for buying or selling. Instead, the broker generally widens the spread derived from the interbank market as their fee. As a result, commission-free accounts often feature wider spreads.

Conversely, a commission-based trading account applies a fee for each buy or sell transaction, with price quotes coming directly from the interbank market and the broker’s liquidity providers. This setup usually leads to narrower spreads for commission-based accounts.

Learn more about Best ECN forex brokers and Best STP forex brokers.

Choosing between these account types depends on individual preferences and trading styles. Novice traders might favor commission-free accounts, where most costs are incorporated into the spread, simplifying risk management. Meanwhile, advanced traders may opt for commission-based accounts, which offer lower spreads for more precise trade execution.

For those utilizing automated trading strategies on AI trading platforms, a commission-based account may be more advantageous due to the narrower spreads, which can result in better price fills – a critical factor for short-term, automated trading strategies. The commissions are considered an operational cost.

Testing an automated strategy on both commission-free and commission-based demo accounts can provide deeper insights into which might yield higher profits.

Check out our list of Best forex brokers for automated trading.

How much leverage is available?

The surge in the popularity of forex and CFD trading can be attributed to leverage, which enables traders to control a large position with a small deposit.

For instance, with a broker providing 1:50 leverage, a trade valued at $50 can be initiated with only a $1 deposit, allowing the management of a position thirty times the initial deposit’s value.

When employing leverage in trading, profit and loss are calculated based on the entire trade value, not just the deposited margin. The broker may trigger a margin call if your account lacks sufficient capital to sustain the larger position. In such instances, the broker automatically closes your trades, potentially resulting in unforeseen losses.

Tier 1 regulators, including the FCA, CySEC, ASIC, and IIROC, have imposed leverage restrictions for currency pairs, capping it at 1:30 for retail traders due to the inherent volatility of these markets. While certain offshore brokers may offer higher leverage, up to 1:3000, caution is advised, as unexpected margin calls could result in the complete loss of your trading capital.

Explore Best forex brokers with high leverage.

Which is the best platform for AI trading?

MetaTrader 4 and MetaTrader 5 have been considered the go-to automated trading platforms for decades. The MetaTrader Code Editor allows users to build Expert Advisors using C# programming language. Expert Advisors (EAs) rule that a trading robot follows based on your inputs. The MetaTrader Marketplace has an extensive range of free and paid-for EAs. Read more about best MT4 brokers and best MT5 brokers.

cTrader is another esteemed auto-trading platform, emphasizing its design for auto traders. It features a built-in code editor called IntelliSense and operates on the C# programming language, similar to MetaTrader. Discover best cTrader brokers.

Brokers are introducing solutions like Capitalise.ai for code-free auto trading. This platform allows users to type their trading ideas, automatically converting them into a programming language for use as an auto-trading strategy.

Other brokers offer access to ProRealTime, which I believe is an excellent way to start AI trading. The ProBuilder language the platform is built upon is much easier to learn than C# programming language, and there is an extensive community to answer any questions or find prebuilt market scanners and automated trading strategies.

Check out our dedicated guide on Best forex trading platforms.

Our Methodology

To identify the best forex brokers with the best AI trading platforms and tools, we evaluated brokers using our proprietary rating system which analyzes 250 data points across nine core categories:

  • Trustworthiness: We verify the broker’s license to operate by confirming their authorization and regulatory status with the regulator in their jurisdiction.
  • Fees: We test how competitive a broker’s trading fees are by opening a live trading account and comparing them to the industry average.
  • Trading platform and tools: We assess the broker’s trading platforms’ user-friendliness, ease of access, trading tools and features.
  • Tradable instruments: We examine the number of tradable instruments each broker offers to ensure a broad range of markets are available.
  • Customer support: We engage with the customer support team through different channels to test the ease of access, knowledge, and helpfulness.
  • Payment methods: We examine the different deposit and withdrawal methods to check their fees and processing times.
  • Account types: We check the different elements of each account type and examine their execution methods, minimum deposits, and any additional features.
  • Research and education: We explore the quality and depth of each broker’s research and educational materials.

Here you can learn more about our review process.

For this guide, we confirmed that each broker offers trading platforms with AI-based tools and services. This includes automated trading capabilities, copy trading features, technical analysis scanners, and others. We also ensured each broker is authorized to provide investment services, offering competitive and transparent trading fees with diverse markets to trade on.

Meet Our Writers

The team of forex and CFD writers and editors at FX Empire is composed of trading industry professionals and seasoned financial journalists. Our writers have been published on leading financial websites such as Investopedia and Forbes. In addition, they all have extensive trading experience.

Get to Know Our Authors

Dan BlystoneBroker Analyst

Dan Blystone began his career in the trading industry in 1998 on the floor of the Chicago Mercantile Exchange. Later Dan gained insight into the forex industry during his time as a Series 3 licenced futures and forex broker. He also traded at a couple of different prop trading firms in Chicago. Dan is well-equipped to recommend the best forex brokers due to his extensive experience and understanding of the brokerage industry.

Jitan SolankiBroker Analyst

Jitan Solanki is a professional trader, market analyst, and educator. He day trades major currency and index markets and focuses on swing trading US equities and commodities. A qualified Market Technician, Jitan also works with trader education and brokerage companies on various projects. These include market analysis, live trading events, and broker reviews. As an experienced trader and educator, Jitan brings all his qualities in action when reviewing and recommending brokers.

Plamen StoyanovBroker Analyst

Having been a retail trader since 2013, Plamen has gained an in-depth understanding of the challenges that novice traders face today. His expertise is swing trading and day trading with a heavy emphasis on psychological and fundamental analysis. Plamen’s favourite trading instruments include FX majors and gold. He earned a Bachelor's degree in Economics and International Relations. Plamen's broad experience has equipped him with the expertise to recommend the best forex brokers.

Vladimir ZernovBroker Analyst

In more than 15 years of trading in the financial markets, Vladimir dealt with a wide range of brokers and financial instruments. His career as a day-trader at a proprietary trading firm goes back to 2007. Later, Vladimir turned to longer time frames and became an independent trader and analyst managing his own portfolio. Using his experience, he helps traders find the best broker in his reviews.

AI trading in forex utilizes artificial intelligence and machine learning algorithms to analyze market data, identify trading opportunities, and execute trades automatically. This method offers the benefits of high-speed, emotionless decision-making and the ability to operate 24/7, enhancing efficiency and accuracy in trading strategies. However, it requires significant expertise for setup and continuous monitoring to ensure optimal performance.
Automated trading involves executing trades based on predefined rules and strategies without human intervention, relying on technical indicators and algorithms. AI trading, a subset of automated trading, leverages artificial intelligence and machine learning to analyze data, learn from market patterns, and make decisions, potentially adapting its strategies over time. While both automate trading processes, AI trading introduces the capability for self-improvement and more complex decision-making.
Yes, retail traders can use AI trading. Advances in technology and the availability of trading platforms with built-in AI capabilities have made it accessible for individual traders. Retail traders can leverage AI for analyzing market trends, making predictions, and executing trades. Many online brokers and trading software now offer tools that integrate AI and machine learning algorithms, enabling retail traders to utilize these advanced strategies with a relatively lower barrier to entry.
Yes, many trading platforms and brokers have developed mobile applications that incorporate AI trading functionalities, allowing traders to manage and execute automated trading strategies directly from their smartphones or tablets. These apps enable users to monitor the market, adjust strategies, and receive real-time trading signals or notifications powered by AI, providing flexibility and convenience for trading on the go.
AI Forex trading, while offering efficiency and advanced analysis, carries risks such as overfitting historical data, potential technical failures, and market volatility that can lead to unexpected losses. Additionally, the absence of human oversight and evolving regulatory frameworks pose challenges. Traders should implement strong risk management strategies and maintain oversight to mitigate these risks.
AI trading can be a double-edged sword for beginners. On one hand, it offers simplified access to trading by automating analysis and execution processes, potentially reducing the steep learning curve associated with forex trading. On the other hand, it requires a basic understanding of trading principles and risk management to set up and monitor effectively. Beginners should approach AI trading with caution, invest time in learning both the market and the technology, and possibly start with a demo account to gain experience without financial risk.
Some of the best AI forex trading platforms include MetaTrader 4, MetaTrader 5, cTrader, TradingView, and ProRealTime. Some of the most popular tools for AI trading include automated trading and copy trading tools, as well as market scanners such as those provided by Autochartist.

About the Author

Jitan SolankiBroker Analyst

Jitan Solanki is a professional trader, market analyst, and educator. He day trades major currency and index markets and focuses on swing trading US equities and commodities. A qualified Market Technician, Jitan also works with trader education and brokerage companies on various projects. These include market analysis, live trading events, and broker reviews. As an experienced trader and educator, Jitan brings all his qualities in action when reviewing and recommending brokers.

Why you can trust FX Empire

At FXEmpire, we strive to provide unbiased, thorough and accurate broker reviews by industry experts to help our users make smarter financial decisions.

Why you can trust FX Empire

FXEmpire was founded in 2011, making us one of the first forex broker review sites. You can trust FXEmpire because of our thorough and unbiased review process. With over a decade of experience, we have a team of industry experts who conduct rigorous tests to ensure our reviews are accurate and unbiased. Our reviews are designed to bring clarity and confidence to the process of choosing a broker, and are based on objective criteria and measurable data. Our editorial team is composed of trading industry professionals and seasoned financial journalists, who ensure that our reviews are accurate and unbiased. Additionally, our review system is based on 9 core categories and over 250 distinct variables, which ensures that all aspects of a broker are considered before giving a final rating. So, you can trust FXEmpire to provide you with honest and informative reviews that will help you make an informed decision on which broker will best enable you to reach your financial goals.