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6 Best Auto Trading Brokers and Platforms for 2024

Searching for the top automated trading platform? Based on our hands-on analysis, we’ve identified the 6 best options tailored to various trading needs. Practical tips from our experts are included.

Jitan Solanki
Reviewed By:
Aviva Gurevich
Updated: Feb 20, 2024

List of Top Forex Brokers and Platforms for Auto Trading

Best brokers for US traders

Trade on 80+ forex pairs including major, minor, and many exotics. Auto trading available from the MT4 platform. Premium client service available for up to 15% cashback trading rebates. Extensive IG Trading Academy with courses, articles and videos.

Best brokers for international traders

MT4, MT5, cTrader algo platforms. Raw ECN pricing accounts. VPS to run automated systems. Myfxbook Automate for copy trading.

MT4, MT5, AvaSocial and DupliTrade. AvaWeb Trader Trading Signals. Automated research and signals from Trading Central. Extensive platform video tutorials for beginners.

Trading Central and Autochartist tools. Advanced MT4 indicator package. Zero requote and no minimum order distance restriction. Raw ECN trading accounts.

Errante CopyTrade MT4. Detailed performance statistics. MT4/MT5 for auto trading. Standard, Premium, VIP, Tailor Made accounts.

MT4, MT5 for auto trading. Low spreads and commission-free trading. 1,100+ markets available to trade on. Enhanced fund protection up to £1 million.

How did FXEmpire select the Best Auto Trading Brokers and Platforms?

FXEmpire's Methodology

  • We selected the top-rated brokers based on our proprietary review system.
  • We confirmed that each broker offers high-quality auto trading platforms.
  • We checked that each broker provides ultra-fast execution speeds.
  • We explored the various trading tools and features available to algo traders.
  • We ensured that each broker supports a range of trading strategies.
  • We opened a live account with each broker to assess their live fees, ensuring they are competitive and transparent.
  • We verified each broker’s authorization and licenses with the regulatory bodies in the countries where they operate.

Using FX Empire’s comprehensive methodology, our team of experts has identified the best forex brokers for auto trading this year. Here’s how we test.

Now let’s explore the selected brokers.

Best Overall

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
  • Tradable Instruments
  • Fees

Founded in 2005, FP Markets is regulated by ASIC, FSCA, and CySEC and also maintains an unregulated entity in St. Vincent and the Grenadines (SVG). Providing access to 3 world-class auto trading platforms, over 850 tradable instruments, and raw ECN pricing trading accounts, FP Markets earns our top overall broker recommendation.

Key Auto Trading Features:

  • Platforms: MT4, MT5, cTrader
  • Execution Speed: < 40 ms
  • Allowed Strategies: All
  • Accounts: Standard & Raw
  • VPS: Yes
  • API: No

The world’s most popular and commonly used auto trading platforms are MT4, MT5, and cTrader. FP Markets offers access to all three through its Standard and Raw ECN trading accounts, featuring low spreads and commissions, ultra-fast execution speeds, and deep liquidity.

While cTrader is known as a more advanced algo platform, I personally enjoy using MT4 and MT5 for auto trading. This is because the MetaTrader Marketplace offers a variety of free and paid auto-trading strategies that can be implemented instantly. I found the broker also connects to Myfxbook Automate, allowing you to automatically copy other traders directly from your MT4 account.

During our live fee test, I found that the spread for EUR/USD during the London and New York trading sessions averaged 1.1 pips. This is around the industry average of 1.0 pips for a commission-free trading account. Lower spreads starting from 0.0 pips are available through the Raw account.

  • 3 auto trading platforms.
  • Myfxbook Automate.
  • Raw ECN pricing accounts.
  • 24/7 customer support.
  • cTrader platform not available in all jurisdictions.

Best Algo Trading Software

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

Founded in 2006, AvaTrade is regulated by the CBI, CySEC, FSCA, FSRA, ISA, FSC BVI, and FSA Japan. The broker offers over 1,250 instruments to trade on with zero commission, along with an excellent range of platforms and algo trading plugins.

Key Auto Trading Features:

  • Platforms: MT4, MT5, AvaSocial, DupliTrade
  • Execution Speed: < 40 ms
  • Allowed Strategies: All
  • Accounts: CFD, Spread Betting, Islamic
  • VPS: No
  • API: No

AvaTrade incorporates the MT4 and MT5 platforms that have long been considered the go-to for automated trading. Both are available to use Expert Advisors and run automated strategies.

The broker also offers algo trading plugins for copy trading via DupliTrade and the AvaSocial app. DupliTrade allows you to automatically copy the trades of other experts and become a signal provider yourself. Automated trading signals are also provided by Trading Central and from the AvaWebTrader platform.

During our live fee test, I discovered that the spread for EUR/USD averaged 0.9 pips during peak trading hours in London and New York, which is better than the industry average of 1.0 pips for commission-free trading accounts.

  • Multiple auto trading platforms.
  • Automated trading signals.
  • Wide range of platform video tutorials.
  • Auto trading plugin with DupliTrade.
  • Fee of 50 USD/EUR/GBP after 3 months of inactivity.

Best Trading Tools

Trading Derivatives carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Derivatives may not be suitable for all investors, so please ensure that you fully understand the risks involved, and seek independent advice if necessary. A Product Disclosure Statement (PDS) can be obtained either from this website or on request from our offices and should be considered before entering into a transaction with us. Raw Spread accounts offer spreads from 0.0 pips with a commission charge of USD $3.50 per 100k traded. Standard account offer spreads from 1 pips with no additional commission charges. Spreads on CFD indices start at 0.4 points. The information on this site is not directed at residents in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.
  • Min Deposit
  • Tradable Instruments
  • Fees

Founded in 2007, IC Markets is regulated by CySEC, SCB, ASIC, and FSA Seychelles. On top of 3 world-class auto trading platforms and 1,700+ markets to trade on, IC Markets offers an excellent range of trading tools such as Trading Central, Autochartist, Advanced MT4 Tools, and connections to IC Social and ZuluTrade.

Key Auto Trading Features:

  • Platforms: MT4, MT5, cTrader
  • Execution Speed: < 40 ms
  • Allowed Strategies: All
  • Accounts: Standard & Raw Spread
  • VPS: Yes
  • API: Yes

IC Markets is a top broker to consider if you’re interested in advanced trading tools. In addition to offering MT4, MT5, and cTrader platforms, they provide a suite of Advanced MT4 Tools featuring extra MT4 indicators such as a Mini Terminal, Market Manager, Correlation Trader, Stealth Orders, and Sentiment Trader. The Market Manager window is particularly useful for managing all of your algorithmic trading positions in one go.

While I particularly enjoy market research, live trading signals, and actionable trading ideas, Trading Central and Autochartist provide these mostly for traders executing trades manually. However, IC Markets remains a preferred auto trading broker, offering zero requotes and no minimum order distance restrictions. This means you can place orders as close to the live market price as you want – a notable advantage for auto traders

During our live fee test, I found the spread for EUR/USD averaged 0.65 pips during the peak trading hours of the London and New York sessions, which is highly competitive and much better than the industry average of 1.0 pips for commission-free accounts.

  • Multiple trading tools.
  • Advanced MT4 tools package.
  • Low fees and fast execution.
  • Zero requotes and no order distance restrictions.
  • Best features only on the desktop platforms.

Best for Copy Trading

FX and CFDs trading involves a high risk of loss
  • Min Deposit
  • Tradable Instruments
  • Fees

Founded in 2019, Errante is regulated by the FSA Seychelles and CySEC. In addition to offering four different accounts designed for auto trading and access to more than 100 markets, the broker features its own Errante CopyTrade tool. This allows you to automatically copy trades from other users directly through the MT4 platform.

Key Auto Trading Features:

  • Platforms: MT4, MT5, cTrader
  • Execution Speed: < 40 ms
  • Allowed Strategies: All
  • Accounts: Standard, Premium, VIP, Tailor Made
  • VPS: No
  • API: No

During our live test, I discovered that Errante offers its CopyTrade service through the MT4 platform. You can either become a provider of signals and charge a performance fee on anyone who copies your trades, or you can simply follow other traders to replicate their trades on your own account. You can access the list of CopyTrade providers via the Errante Client Portal and view the individual performance of each trader.

I find the ability to analyze a trader’s performance is essential. Errante provides various statistics for this purpose, including charts that show cumulative and monthly returns, traded instruments, volume, and other key metrics such as maximum profit and drawdown, daily profit and loss, Sharpe ratio, recovery factor, volatility ratio, and more.

During our live fee test, I found that the spread for EUR/USD during the London and New York trading sessions averaged 1.5 pips, which exceeds the industry average of 1.0 pips for commission-free trading accounts.

  • Multiple trading platforms.
  • Errante CopyTrade service.
  • Multiple account types.
  • Wide range of performance statistics.
  • CopyTrade only available on MT4.

Best Low Spreads

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 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.
  • Min Deposit
  • Tradable Instruments
  • Fees

Founded in 2001, ActivTrades is regulated by the UK FCA, CSSF, CMVN, SCB and CVM. With four different trading platforms to trade on 1,100+ tradable instruments and low spreads, ActivTrades is a good broker to consider for auto trading.

Key Auto Trading Features:

  • Platforms: ActivTrades, MT4, MT5
  • Execution Speed: < 40 ms
  • Allowed Strategies: All
  • Accounts: Individual (Spread Betting or CFD), Professional
  • VPS: No
  • API: Yes

During our live fee test, I discovered that the average spread for EUR/USD during the most active trading sessions, London and New York, averaged 0.9 pips, which is better than the industry average of 1.0 pips for a commission-free trading account. I also found that ActivTrades enforces a no-requote policy on order requests thanks to its deep liquidity from the institutional market.

ActivTrades provides trading access through its proprietary ActivTrades platform as well as MT4, MT5, and TradingView. Its own proprietary platform and TradingView do not provide auto trading services, but the go-to auto trading platforms of MT4 and MT5 are available. You can either create your own Expert Advisors or download them from the MetaTrader Marketplace for use on the MT4/MT5 platforms for automated trading. The broker also provides detailed manuals on how to use MT4/MT5 for beginner traders.

  • MT4, MT5 available.
  • Competitive fees.
  • 1,100+ markets.
  • No requotes.
  • MT4/MT5 auto trading only available on the desktop version.

Best Overall in the US

Forex trading involves risk. Losses can exceed deposits.
  • Min Deposit
  • Tradable Instruments
  • Fees

Founded in 1974, IG has been a heavyweight in the financial trading industry for decades. In 2019, IG brought margin-based forex trading to US citizens through its CFTC and NFA-regulated entity. US traders can now trade 80+ forex pairs with IG from the MT4 auto trading platform and access cash rebates up to 15%.

Key Auto Trading Features:

  • Platforms: MT4
  • Execution Speed: < 40 ms
  • Allowed Strategies: All
  • Accounts: Forex
  • VPS: No
  • API: No

During our research, I was impressed that IG US offers a 2% margin rate for trading currency pairs like EUR/USD. This means you only need to put up 2% of the total trade size to open a trade. In my experience, this rate is even more attractive than what’s generally offered to non-US traders. I was also impressed by the selection of forex pairs available to trade on. This includes 80+ pairs covering major, minor, and many exotic currency pairs from emerging markets.

Our live fee test showed that the average spread for EUR/USD during peak trading hours in both the London and New York sessions averaged 1.5 pips, with no commission fees. While this spread is slightly higher than the industry average, it’s worth noting that spreads can fluctuate throughout the trading day.

Having traded with IG for many years, I personally enjoy the IG Trading Platform. However, there are no automated features available. Instead, algo traders can turn to the globally renowned MT4 platform. IG imposes no restrictions on trading strategies, enabling you to run your Expert Advisor (EA) 24 hours a day or backtest a strategy using IG’s extensive historical data.

  • 80+ forex pairs.
  • Commission-free trading.
  • Cash rebates for premium clients.
  • MT4 trading platform.
  • Only forex pairs available for trading.

How to choose a broker for automated trading?

Here is a quick guide on how to choose the best broker for automated trading.

1. Find a well-regulated broker

While many brokers offer trading platforms that allow you to perform automated trading, not all brokers are equal in the level of safety and security they provide. It is important to stick to well-regulated brokers as there is no legal recourse to get your money back if an unregulated broker decides to steal it.

Here are some steps to consider in finding a well-regulated broker:

  • Check the location. A broker situated in a reputable financial jurisdiction such as London or Singapore is likely to be overseen by the country’s financial regulator.
  • Verify the license. Confirm the broker’s regulatory standing via the online register of the appropriate regulator.
  • Read the terms and conditions. Examine all the legal documents and ensure you are opening an account with a regulated entity located in a favorable jurisdiction.
  • Check for fund segregation. Regulated brokers are required to keep client funds separate from company assets. Confirm this in the legal documentation.

Read more about best regulated forex brokers in our comprehensive guide.

2. Ensure fees are transparent and competitive

A broker will charge fees for various services and products to keep their business running. While they aim for these fees to be as high as possible, you’d prefer them to be low. Fortunately, due to a competitive industry, there are brokers who offer competitive rates.

Here are some fees to be aware of:

  • Spread. The difference between the buy and sell price of a financial instrument. See our guides on the best zero spread and best lowest spread forex brokers.
  • Commission. A fee is charged for both opening and closing a trade.
  • Overnight or Swap Fee. The cost incurred for holding a leveraged or margined position overnight. Find the list of the lowest swap brokers in our detailed guide.
  • Payments. Fees to deposit or withdraw funds.
  • Inactivity. A fee when no trading activity occurs.

You can find information on a broker’s fees on their website, in their terms and conditions, or by speaking with customer support. Alternatively, consider using a demo trading account or check out broker rating reviews at FX Empire, where the team opens live accounts to test the brokers and share their findings.

3. Choose the right account type

Brokers typically offer various types of trading accounts, each differing in the range of products, services, and fees provided. Generally, you can choose between a commission-free or a commission-based account.

  • A commission-free trading account will offer higher spreads but zero commission for opening or closing trades. These are good for beginner traders as there are fewer risk management calculations to do as most of the costs are incorporated into the spread.
  • A commission-based trading account will offer lower spreads, usually sourced directly from interbank markets or the broker’s own liquidity pools. However, they do charge a commission for both opening and closing trades. These are excellent options for algorithmic traders who may prioritize price execution beyond anything else.

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

4. Be careful of leverage

When auto trading, leverage is an option that can amplify both your profits and losses. For instance, if a broker offers a 1:30 leverage ratio, it means you can open a trade worth $3,000 with just $100 in your account.

Top-tier regulators such as the UK FCA, ASIC, and CySEC cap forex leverage at 1:30 for retail traders. There are many offshore regulated brokers that may offer higher leverage as they are not governed by a strict regulator.

Be wary if you encounter an unregulated or offshore broker promoting higher leverage levels. For those comfortable with these dynamics, FX Empire offers a list of the best forex brokers with high leverage, carefully selected to suit specialized trading needs.

There is a good range of auto trading platforms that brokers offer access to.

MetaTrader 4 and MetaTrader 5 have long been the go-to auto trading platforms. Using the MetaEditor, you can create Expert Advisors, which are custom scripts for automated trading. If you’re new to the game, head over to the MetaTrader Market. There, you’ll find both free and paid algorithmic strategies to get you started. Check out our dedicated guides on best MT4 brokers and best MT5 brokers.

cTrader is another strong contender in the auto trading scene. What sets it apart is its focus on catering specifically to auto traders. It features an intuitive code editor called IntelliSense and operates on the C# programming language, just like MetaTrader. Read more about best cTrader brokers.

Now, there’s an emerging trend of brokers offering code-free auto trading solutions. Platforms like Capitalise AI let you input your trading idea, which it then automatically converts into a programming language to use as an auto-trading strategy.

Another handy feature for auto traders is a Virtual Private Server (VPS), which lets you keep your trading platform up and running 24/7 to execute trades. Some brokers offer this for free to their clients so it’s worthwhile checking the full offering a broker provides. See the guide on the best VPS hosting forex brokers.

You can also check out our dedicated guide on best forex trading platforms.

What to avoid when choosing a forex and CFD broker?

When identifying the best forex and CFD broker to trade you should be careful of the following:

  • Unregulated brokers. These brokers are not governed or overseen by an independent body. If they decide to steal your money then you have no way of getting it back. I highly recommend you avoid unregulated brokers.
  • No physical presence. If a broker does not have a physical office in a well-established jurisdiction it is a major red flag. Where are all of the staff? Customer support, sales, marketing, etc? A good broker will have a team of employees running the business.
  • Unrealistic claims. Regulated brokers in strong financial jurisdictions are governed by advertising laws. If a broker is advertising unrealistic claims such as high and easy returns it is best to steer clear of them.

How to avoid forex and CFD scams?

Unfortunately, there are now many more scam brokers in the world than ever before. But, you can protect yourself by adhering to the following principles:

  • Always trade with a regulated broker.
  • Confirm the broker is located in a well-established financial jurisdiction.
  • Check the broker has a physical office and staff.
  • Interact with the broker through different channels such as live chat, email, phone, and social media to check they are real.
  • Only use payment methods you are familiar with.
  • Always read the legal terms and conditions of the broker entity you are opening an account with.

And if you are still uncertain, you can always check out our database of reviews to find the most reliable brokers.

Our Methodology

Since pioneering the broker rating review industry, our process now involves analyzing 250 research data points across nine core categories, which include:

  • Trustworthiness: We check the authorization and licenses to operate for each broker.
  • Fees: We open live trading accounts to test the broker’s fees.
  • Trading platform and tools: We test the different trading platforms each broker provides.
  • Tradable instruments: We examine the number of tradable instruments available.
  • Customer support: We test the customer support team with live questions.
  • Payment methods: We research the payment options and their fees and processing times.
  • Account types: We explore each account type for its features and benefits.
  • Research and education: We explore the quality of the broker’s research and educational materials.

We abide by our strict guidelines for editorial integrity based on the objective standards we have set for our reviews. You can read more about our review process here.

For this page, we also checked each broker’s speed of execution, the number of auto-trading platforms and tools each broker provides, and the ability to access them with ease through the use of a VPS and API connection.

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.

Automated trading is the process of creating algorithms that execute actions like opening or closing trades when predefined conditions are met.
Automated trading is legal and is a fast-growing sector of the financial trading industry.
Many people use the terms automated trading and algorithmic trading interchangeably. However, it's important to distinguish the two. Automated trading focuses solely on the method of execution, while algorithmic trading refers to the comprehensive system that identifies and executes trades.
Retail traders can use automated trading strategies through popular platforms such as MT4 and MT5.
Currently, you cannot execute an automated trading strategy directly from a mobile trading app. However, you can automate to some extent by setting orders to buy or sell at specific future prices.
The go-to trading software that brokers provide for automated trading includes MT4, MT5, and cTrader.
When creating an automated trading strategy, knowledge of a programming language such as C# is required. However, there are ready-made auto trading systems beginners can upload into MT4/MT5 to get started, and there are other platforms, such as Capitalise AI, which provide code-free strategy automation for beginners.
It does not cost anything to start automated trading, as you can start on a demo trading account. Many brokers will also offer an automated trading platform for free when you open an account with them.
One risk in auto trading arises when the trader fails to incorporate sufficiently detailed risk management conditions into the system. This oversight can result in overtrading or excessive risk-taking, which can wipe out a trading account.
A negative balance protection is a system that ensures that a trader’s account does not go below zero.
Brokers regulated by Tier-1 regulators such as the UK FCA, CySEC, ASIC, and IIROC are legally required to provide negative balance protection. If unsure, you should check the broker’s terms and conditions document.
A compensation scheme covers client capital up to a certain amount in the event a broker becomes insolvent.
Brokers regulated by Tier-1 regulators such as the UK FCA, CySEC, and IIROC are legally required to be part of a compensation scheme. If unsure, you should read the broker’s legal terms and conditions document.
A segregated fund holds client capital separately from company capital.
Brokers regulated by Tier-1 regulators such as the UK FCA, CySEC, ASIC, and IIROC are legally required to segregate client funds. If unsure, you should read the broker’s legal terms and conditions document.

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.