Best Automated Trading Platforms in September 2024

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With the majority of trading volume now automated, it makes sense that automated trading has become increasingly popular as a way to facilitate more efficient trading. But of course, not any platform will do; only the best automated trading platform will ensure profitable investment decisions.

So, here we are, with this guide to help you find some of the best automated trading platforms and everything you need to know about them to begin your successful trading journey. Let’s get started.

16 Best Automated Trading Platforms Complete List

Automated trading uses programmed instructions for automatic execution, allowing full trade automation through specialized platforms.

With the global algorithmic trading market expected to grow to 1,04,971.2 million by 2030, there has been a proliferation of automated trading platforms, each with its own features, capabilities, and drawbacks. So, we have prepared this list of the best automated trading software 2024 for you to choose the one that best suits your needs.

  1. eToro – Best automated trading platform with copy trading and multi-asset platform.
  2. Dash2Trade – New automated trading platform with crypto bots and strategy development tools.
  3. Learn2Trade – Easy to us automated trading platform and the best platform for learning automated trading.
  4. Margex – Top crypto exchange with copy trading features and market signals for beginner and advanced investors.
  5. Coinrule – Automated crypto trading platform offering multiple trading strategies.
  6. CryptoHopper – Customizable automated crypto trading bot offers multiple trading strategies.
  7. Bitsgap – Automated crypto trading platform offers smart trades by using powerful algorithmic orders.
  8. Binance – Leading crypto exchange has launched an automated trading crypto platform.
  9. Bybit – Top automated platform for cryptocurrenct Futures trading.
  10. Gate.io – High volumes, a wide range of crypto and flexible bot options continue to make this a popular platform.
  11. Pionex – Automated crypto trading platform offers AI trading strategies.
  12. SMARD – Access risk-management tools with this automated cryptot trading tool.
  13. TradeSanta – All-in-one automated crypto trading platform, apply up to 200x leverage. 
  14. Kryll – Leading crypto automated platform adopts a pay-as-you-go pricing model.
  15. Gunbot – Connect with unlimited exchanges and DeFi ecosystems with this platform.
  16. HaasOnline – Zero-fee trading bot automates cryptocurrency trades.

Best Automated Trading Platforms Reviewed

Now, we’ll take a deep dive into these top auto trading platforms and see what makes them stand out and where they are lacking. 

1. eToro: Best Overall Automated Trading Platform in 2024

eToro tops our list of best automated trading platforms due to its user-friendly features and multi-asset trading options. It offers over 5000 assets, including 90+ cryptocurrencies, as well as stocks, bonds, indices, commodities, and funds.

eToro Copy Trader interface

Where eToro stands out is its CopyTrading and Smart Portfolios. The CopyTrading feature lets you set aside a certain amount and use it to proportionately copy the trades of seasoned investors. This can be a great automated trading strategy for new traders.

Another option is Smart Portfolios, which are long-term investment portfolios designed by eToro experts that combine a range of financial assets. You can choose the level of risk you’re comfortable with and the style of portfolio. As an extra benefit, you won’t have to pay any portfolio management fees for access to this feature.

Many of these Smart Portfolios combine cutting-edge algorithms and AI to stay ahead of market movements and trends. These curated portfolios can automate your trading while still adding that essential human touch.

In adverse market conditions, using a copy trading or a Smart Portfolio means that your automated trading strategy will be quickly altered as they are actively managed. There are also social trading features where new traders can chat with more experienced traders and gain some first-hand knowledge.

Pros pros

  • Copy trading feature
  • Social trading elements
  • Smart Portfolios curated by eToro experts
  • Actively managed portfolios

Cons cons

  • For bots, you will need a third-party bot provider

2. Dash2Trade: New Automated Trading Platform with Crypto Bots and Strategy Development Tools.

Dash2Trade is a new crypto trading and analysis platform from the team behind Learn2Trade – which took the 3rd spot on this list. This is a group of traders that knows how to make outstanding, trader-centric tools.

Dash2Trade offers 2 crypto trading bots, which you can use to trade more than 400 tokens across 6 centralized crypto exchanges. The bots offer trading based on either a dollar-cost averaging (DCA) or grid trading strategy.

Dash2Trade Homepage

Dash2Trade plans to roll out additional trading bots over the coming months. In addition, the platform is building a tool to enable traders to build, backtest, and deploy crypto trading bots based on fully custom strategies.

This is a big development that will enable traders to put their strategies on full auto-pilot.

Dash2Trade also offers a ton of crypto market analysis features that include automations. For example, the platform offers social media sentiment analysis, and it automatically calls attention to trending tokens that could be about to explode.

It also uses AI to track technical indicators like moving averages and RSI. Based on these indicators, Dash2Trade rates each token as bullish or bearish over multiple time periods.

Dash2Trade offers a limited free plan, and full access starts at only $102 per year when you pay with the project’s native $D2T token. There’s no additional fee to trade with Dash2Trade bots.

Pros pros

  • DCA and grid trading bots available
  • Soon to roll out custom strategy trading bots
  • Social media analysis identifies trending tokens
  • Automated technical signals analysis
  • Discounted pricing for D2T token holders

Cons cons

  • Only supports crypto trading
  • Many auto-trading features have yet to be rolled out

3. Learn2Trade: Top Automated Trading Platform for Beginners

Learn2Trade specializes in trading signals for traders, primarily in forex and cryptocurrencies. 

It offers guidance on buying and selling assets with an entry price to execute the position. Additionally, Learn2Trade’s subscription plans include both a free option and a premium plan, under which real-time signals are delivered through its Telegram channel. 

Home page of Learn2Trade Forex Signals

Learn2Trade further has a comprehensive MAM account service that allows traders to invest directly with an analyst who executes trades on their behalf. Most recently, the platform launched copy trading services under which its algo automatically opens and closes trades. The monthly subscriptions for this service begin at £58 and offer you up to 40 trades per month.

The FCA-regulated platform has a vast amount of useful educational resources suitable for traders of all skill levels. And in case of any issues, Learn2Trade can be reached via email and phone.

Pros pros

  • Real-time alerts
  • Great educational material
  • Access to VIP telegram group
  • Cryptocurrency trading signals
  • Money-back promise

Cons cons

  • Signals via Telegram only
  • No email or text alerts

4. Margex — Popular Automated Crypto Platform with Copy Trading

Launched in 2019, Margex is a leading cryptocurrency exchange platform known for providing traders with crypto derivatives like perpetual futures with up to 100x leverage. Today, the Margex exchange has become a more comprehensive trading platform, offering copy trading tools that let investors auto-trade digital assets.

Margex’s copy trading feature is ideal for beginner traders who wish to start their crypto investing journey without much in-depth market analysis. Users can follow the portfolios of proven Margex traders and automatically mimic their trading orders in just one click.

margex copy trading

With a user-friendly interface, Margex further enhances automated trading for its members by providing key technical indicators, various charting tools, and different order types. This offers more market information for advanced traders who want to combine a more thorough evaluation of digital assets alongside copy trading.

The Margex platform is accessible via web browsers and mobile devices and has Android and iOS apps. Its added mobile functionality allows investors to copy trade from anywhere, adding more convenience to their auto-trading experience.

Other notable features include crypto earnings for top coins like BTC and USDT, cryptocurrency conversions, and multiple payment methods for buying tokens, such as credit cards and bank transfers.

Pros pros

  • Earn through the top traders with the copy trading tool
  • Provides advanced trading indicators and signals
  • Great for beginners
  • Features copy trader leaderboard

Cons cons

  • Doesn’t support spot trading

5. Coinrule: Access Top Trading Strategies with this Automated Crypto Platform

Launched in 2018, Coinrule is a popular automated cryptocurrency trading platform. On Coinrule, investors can create their own trading strategies or use one of the multiple available options. 

Coinrule allows investors to connect with some top crypto exchanges, including Binance, Kraken, Kucoin, and Coinbase. The platform sends trading instructions directly to these exchanges on behalf of the customers. 

Coinrule review

Some available automated strategies include the ‘Buy Low Sell High’ plan. As the name suggests, the Coinrule bot automatically looks for the best entry point for various cryptos. It examines the trading volume of different cryptos, makes an entry, and then looks for the best time to exit the trade. 

Other strategies, such as ‘Ride the Trend,’ are for more long-term investments. Rather than continuously buying and selling assets, the bot will enter the position and look to make a gain from a potential bull run. 

Investors can start using Coinrule by purchasing one of the four available plans. The first plan is the ‘Starter,’ which is free of cost. However, this subscription only entitles you to 7 template strategies, 1 exchange, and up to $3K in trading volume. 

The most premium plan is the Coinrule Pro, which offers unlimited template strategies, access to unlimited exchanges, one-to-one training sessions, ultra-fast executions, and TradingView integration. However, this plan costs $449 per month. 

Pros pros

  • Connects you to top crypto exchanges
  • Ultra-fast execution speed
  • Multiple subscription options
  • One-to-one training sessions

Cons cons

  • Limited customizable tools 

6. CryptoHopper: Top Crypto Bot For Customized Trading Strategies 

CryptoHopper is an automated cryptocurrency trading bot that offers hundreds of customizable trading strategies. Users can connect their crypto exchanges to CryptoHopper’s free trading terminal in just a few minutes.

You can access Pro trading strategies such as DCA (Dollar Cost Averaging), Market Making, and Arbitrage. CryptoHopper also gives all users access to its free-of-cost custom software. 

CryptoHopper review

Investors can customize their strategies through the CryptoHopper marketplace. Some of the most popular strategies on the marketplace include the ‘Counter Attack Strategy’ – which scans the crypto markets to make an entry just as the price is about to increase. The automated trading strategy analyzes the trading volumes to find the best entry points. 

Users can also join the ‘Bitcoin Devil’ automated strategy, which looks for regular entry and exit levels. Notably, users can purchase individual strategies with CryptoHopper. Bitcoin Devil can be bought for $69.99. 

However, all users need an Explorer account to start using the strategies. A free version is available, allowing traders to open 20 positions simultaneously. 

Traders can also opt for the ‘Hero’ version, which allows you to open 500 positions, leverage 75 trading bots, and access AI trading strategies. This version costs $107.5 per month.

Pros pros

  • Customize multiple crypto trading strategies
  • Access a free trading terminal 
  • Supports AI trading strategies 
  • Open 500 positions simultaneously

Cons cons

  • Expensive monthly costs to access all the available tools 

7. Bitsgap: Algorithmic Trading Platform Offers a Daily Profit of 1.23% From its Crypto Bot

Bitsgap implements a smarter way to automate cryptocurrency trading by leveraging powerful algorithmic orders. Over half a million users have connected to the Bitsgap trading terminal through 15+ of the biggest crypto exchanges in the world. 

Currently, Bitsgap has activated more than 3.7 million bots, generating over $300 billion in trading volume. Bitsgap executes ‘Smart Orders’ by using multiple algorithmic orders.

Bitsgap review

It controls the Risk/Reward ratio with Trailing take profit and Stop Limits. It offers a stable and speedy connection by locating its trading servers close to the popular crypto exchanges. 

Notably, Bitsgap offers unique crypto trading strategies. While GRID and DCA strategies are included, one can access the Combo trading bot. This bot combines DCA and GRID trading strategies to amplify gains and risks. 

Other automated strategies include the DCA Futures trading bot. This aims to reduce gains in the Futures market by taking out regular long-term investments. So far, Bitsgap offers an average daily profit of 1.23% from its bots. 

The Basic plan costs $23 monthly and is equipped with 2 GRID bots and 10 DCA bots. For $119 per month, you can access 25 GRID bots and 250 DCA bots. Bitsgap offers a 7-day free trial for all plans. 

Pros pros

  • Uses algorithmic trading 
  • Unique crypto-automated strategies
  • Provides a 7-day free trial 
  • Offers a daily profit of 1.23% through the bots

Cons cons

  • Does not offer any free plans

8. Binance: Top Crypto Automated Trading Platform Gives Access to 100,000 Strategies 

Launched in 2017, Binance is the largest cryptocurrency exchange in the world. This exchange also allows traders to access its crypto-automated trading platform – where you can use more than 100,000 strategies. 

The Binance automated platform stands out from other options due to its liquidity, offering fast execution times and low slippage costs. Some of the popular strategies include the ‘Spot GRID,’ which looks for the best entry and exit strategies by scanning the markets regularly.

Binance trading bot

Depending on your preferences, you can use strategies lasting under a day or over a month. For example, you can trade the BTC/USDT pair using the Spot GRID strategy for a week. This particular automated strategy offers an average return of 19.93% annually. 

Long-term investors can trade with the ‘Rebalancing Bot,’ which keeps diversifying your investments over time. Through Binance’s Strategy Academy, users can learn the basics of automated trading. 

Pros pros

  • Access 100,000 automated trading strategies
  • Beginners can utilize the Strategy Academy 
  • High liquidity and fast order execution
  • High average returns on investment

Cons cons

  • US clients are not supported

9. Bybit: Access Automated Crypto Futures Trading with a $1 Investment 

Bybit, one of the largest crypto exchanges in the world, allows users to automate crypto trades through its crypto bots. 

High-risk traders can automate cryptocurrency Futures with the ‘Futures Grid’ trading strategy. Before this bot goes live, the trader customizes their risk parameters.

Bybit trading bot

You also pick either to go Long, Short, or Neutral. Notably, you can start automating crypto Futures with a minimum investment of just $1 on Bybit. 

One of the available markets on the Futures Grid is ‘SOL/USDT,’ where you can apply leverage to heighten the returns.

The current ‘Long’ option with a 20x leverage on this particular trading pair offers an ROI (Return on Investment) of 2,400%. 

Depending on their preferences, traders can also access other strategies, such as the Spot GRID and DCA.

This particular automated platform offers a good mix between short and long-term investments. You can find strategies for under 24 hours and up to 1 year. 

Pros pros

  • Low minimum investment
  • Automates crypto Futures
  • Apply high leverage on trades
  • Trade for short and long-term

Cons cons

  • Can be overwhelming for beginners

10. Gate.io: Use Other People’s or Design Your Own Crypto Trading Bot  

Gate.io is one of the most popular crypto trading platforms on the market today. With a reputation for high liquidity, the platform offers users access to more than 1700 different cryptocurrencies.

Those looking to make use of an automated crypto trading bot on Gate.io can choose to use others or design their own. A massive range of options ensure you can benefit from any potential situation.

Gateio exchange Such a wide range of trading bot features and benefits ensures that the platform provides transparent data at all times. Members can access data on total investment, total return, unrealized profit and loss as well as likely APR. Such a wide range of available data make Gate.io one of the best platforms for the integration of automated trading bots.

Once you have designed your own trading bot, you can publish it to earn a share of the profits, should it prove to be successful. Alternatively, you can use other peoples programs for your benefit.

Such an open and accessible feature means there is a strong community at hand should you ever need help and advice.

Pros pros

  • Over 1700 cryptocurrencies available
  • Wide range of payment options
  • Use others or design your own crypto trading bot
  • Strong community ethos

Cons cons

  • No fiat off-ramps
  • User interface needs some work

11. Pionex: Start Trading 300+ Cryptos with an Auto Trading Bot

With over 100,000 users spanning across 100+ countries, Pionex has emerged as one of the best auto-trading cryptocurrency platforms. Pionex lets investors access spot trading in more than 370 countries and also supports margin trading. 

Having conducted more than 100 million trades, Pionex averages a monthly trading volume of more than $50 billion. With the auto trading feature, investors can select from 16 in-built trading bots. 

Pionex home

For example, the ‘Grid Trading Bot’ automatically scans the markets 24/7, looking to invest at a low price, and cash out after making a profit. Other options include the ‘Rebalancing Bot’ – allowing users to create their customized trading index. 

On Pionex, one can also generate automated trading strategies with ‘PionexGPT’ – created leveraging artificial intelligence. Investors can also stake their holdings to generate passive income with Pionex. 

This crypto platform supports deposits in crypto and fiat payment methods such as VISA, Mastercard, Apple Pay, and bank transfers. The trading fee on Pionex starts at just 0.05% per transaction. The price drops further as your trading volume increases. 

Pros pros

  • Automated trading crypto bot
  • Access AI-generated trading strategies
  • Trade 370+ cryptos
  • Multiple payment options

Cons cons

  • Better suited for advanced traders

12. SMARD: Automated Trading Crypto Tool Connected with Major Crypto Exchanges 

SMARD is yet another automated cryptocurrency trading tool on our list. Aiming to generate maximum results for investors, SMARD claims to offer an average monthly return of 5%. 

Moreover, the platform also states that it will overtake Bitcoin (BTC) and Ethereum’s (ETH) performance in the long term. SMARD uses trading strategies such as the Momentum Effect to help increase trading performance. Therefore, it will try to systematically identify new market winners. 

SMARD home

To execute trades, SMARD works with some of the best crypto exchanges, such as Binance and OKX. In the future, it will be compatible with Kraken, Bitget, Bybit, and other big platforms. SMARD also integrates regular stop loss and trailing stops to ensure proper risk-management measures. 

By controlling the risk per trade, SMARD can flexibly manage the size of each position. Investors can purchase a subscription for just $1 per month. SMARD does levy a 10% service fee – only applied to profits. 

Deposits can be made using crypto tokens and credit cards. 

Pros pros

  • Claims to offer 5% monthly returns on cryptos
  • Connects with major crypto exchanges
  • Uses risk-management tools and trading strategies
  • $1 monthly subscription

Cons cons

  • 10% service fee levied on all profits 

13. TradeSanta: Leading Automated Crypto Platform for Long and Short Trading 

TradeSanta is a multi-faceted automated crypto trading platform. The platform allows users to access risk management tools, demo accounts, and apply leverage on trades.

The TradeSanta crypto trading bot scans the markets 24/7, looking for the best investment opportunities. You can use TradeSanta either with the trading terminal or through the mobile app. 

TradeSanta review

TradeSanta is compatible with some of the top crypto exchanges, including Binance, OKX, and Bybit. You can connect the exchanges to the trading terminal by using API keys. 

This automated platform lets investors set up customizable trading signals before going live. You can apply indicators such as MACD, Bollinger, RSI, and other TradingView signals.

After entering your Stop loss and Trailing Stop loss, TradeSanta automates potential Long and Short trades. This particular strategy also lets you apply up to 200x leverage. To get a hang of this platform, TradeSanta provides a demo account. 

To get started, interested traders can purchase a monthly plan with TradeSanta. You can pay $18 per month for the ‘Basic’ plan, which allows you to use 49 bots and the trading terminal. However, you cannot access the Futures trading bot with this plan. 

Pay $45 monthly for the ‘Maximum’ plan to access unlimited trading bots, Futures bots, and risk-management tools such as Trailing take profit. 

Pros pros

  • Automates futures crypto trading
  • Apply up to 200x leverage
  • Multiple risk-management tools
  • Access a demo account

Cons cons

  • Have to pay $45 per month to access the Futures bot

14. Kryll: Top Automated Trading Platform Offers a Pay-As-You-Go Pricing Model

Kryll is a top automated cryptocurrency trading bot that offers risk-management tools, multiple indicators, and a preferential pricing system. 

With Kryll, you can access leading automated crypto strategies such as Golden Crossover bots, DCA, and GRID bots. To optimize trading, you can access a number of real-time trading metrics and fair risk-management indicators. 

Kryll trading bot

On Kryll, users can even build and monetize their own trading strategies. After creating strategies, you can offer your plans on the Kryll community page and start earning revenues. Notably, Kryll is one of the few automated trading platforms that does not work using a subscription model. 

Instead, Kryll follows a pay-as-you-go pricing model. To simplify, you pay a fee only on what you trade. If you trade $100 worth of cryptos with Kryll, the platform charges an average fee of $0.33 per trade. This can be lowered by holding $KRL, the native token. 

For example, if you hold 5,000 $KRL ($2,476 at the time of writing), the original $0.33 fee reduces to $0.28. 

Pros pros

  • Pay-as-you-go pricing 
  • Access risk-management indicators
  • Create and monetize your own strategies
  • Low fees

Cons cons

  • Reduced fees only if you hold the native token

15. Gunbot: Make Custom Trading Strategies Using AI with this Automated Platform

One of the top cryptocurrency automated trading platforms to use in 2024 is Gunbot. Users can connect to an unlimited number of exchanges, connect with DeFi platforms, access AI strategies, and high levels of security. 

All of Gunbot’s trading subscriptions come with lifetime access. The basic plan costs $199 and allows you to connect with only one crypto exchange. However, the ‘Gunbot Ultimate Edition plan gives access to unlimited exchanges. 

Gunbot review

Traders can also access a mobile app, connect their TradingView accounts, and access multiple DeFi (Decentralized Finance) tools. The Ultimate Edition account costs $499.

One of the top features of this automated trading platform is custom strategy generation using artificial intelligence. Users need to provide text-based prompts on Gunbot while the AI analyzes this data and creates new strategies. 

Popular strategies include Arbitrage and Market making, scanning multiple crypto exchanges looking for price variations. Gunbot uses encrypted API keys to prioritize security and requires customers to complete two-factor authentication before logging in to the account. 

Pros pros

  • Access AI-generated trading strategies
  • Arbitrage and Market making supported
  • Lifetime access through subscriptions
  • Connects you to DeFi tools

Cons cons

  • Gives access to unlimited exchanges only with the premium plan

16. HaasOnline: Access over a Dozen Automated Trading Bots for No Fees

HaasOnline is another cryptocurrency automated platform that offers a number of trading toolsets, paper trading platforms, and backtesting options. 

The platform automates trading toolsets and allows users to create customized bots. With HaasOnline, users can drag-and-drop visual designers to replicate historically proven trading strategies. You can even create proprietary trading strategies without writing a line of code. 

HaasOnline review

Beginners can practice the automated trading tools through paper trading accounts. The platform supports backtesting tools, allowing users to test their ideas by analyzing historical market data. 

On HaasOnline, you can choose from over a dozen automated trading plans. Notably, all these plans charge zero fees. Some popular options include the ‘Scalper Bot’ – which buys and sells crypto tokens in a short time frame in hopes of making a profit. 

Other options include the Accumulation bot, Zone recovery bot, and Market Making bot. The cheapest subscription comes in the form of the ‘Lite+ plan,’ costing just $7.50 per month. This gives you access to 3 trading bots, 1 month of backtesting, and 3 customizable dashboards. 

You can opt for the Pro plan and receive 25 trading bots, 12 months of backtesting, and 25 customizable dashboards. The Pro plan costs $82.5 per month. 

Pros pros

  • Access backtesting options
  • Multiple customizable dashboards
  • Create your proprietary trading strategies
  • Zero fees trading

Cons cons

  • The Pro plan is very costly ($82.5 per month)

Types of Automated Trading Platforms 

Automated trading, also known as algorithmic trading, allows traders to establish specific rules that, once programmed, can be automatically executed. Once the system is programmed, with all the rules of the trade already built into the parameters you set, it monitors the desired market and automatically makes trades.

Through automated trading, you can carry out many trades in a small amount of time while taking the emotion out of your trading decisions. You can set criteria determining both entry and exit points in the financial markets, make rules for money management, and even use predetermined best automated trading strategies to follow trends and trade accordingly.

As there are different types of automated trading platforms that you can take advantage of, let’s take a look at them:

Copy Trading Platforms

Learn2trade algorithm fact sheet

Copy trading is one of the easiest ways to automate your trading. It allows you to directly copy the positions taken by other selected traders. 

Here, you just decide the amount you wish to invest and then simply copy everything the successful trader does automatically in real-time. So, when your chosen trader makes a trade, your account automatically replicates it, aiming for similar returns without any input from you.

With this method, not only do you use another trader’s expert knowledge, but you don’t lose any control over the outcome either, as you still can close trades and open new ones whenever you want.

So, whether you’re a beginner or you simply don’t have time to watch the markets, utilizing automated trading platforms like eToro allows you to easily leverage the expertise of other crypto traders.

With eToro’s Copy Trader, their algorithm will automatically copy the trades of investors that you choose and copy their positions in proportion to the amount you have set aside for each trader.

It’s more than just copy trading, though, the eToro platform  also offers a social trading feature where traders can discuss strategy and share tips.

Trading Bots

Trading bots play a significant role in not just traditional financial markets but also the fast-paced world of cryptocurrencies. And as technology advances, these bots will likely become even more sophisticated.

Expert Advisors (EAs): Robots on Platforms

When it comes to automated capabilities, many platforms integrate MeTatrader 4 (MT4) or MetaTrader 5 (MT5) for trade automation. These are popularly used in forex and CFD markets. 

When utilizing MetaTrader software, you have to first set a precise set of rules, depending on which trading bots (EAs) find opportunities for your trades and automatically execute them. You can either choose pre-built EAs or even develop your very own. 

Crypto Trading Robots

In crypto trading, which happens round-the-clock and experiences wild price swings, it is pretty challenging to seize all market opportunities. Moreover, the slowdown in exchanges and transaction times also exacerbates the problem. 

Experienced crypto traders use trading bots to help them out. These bots are special computer programs that automatically make trades for the traders. They do this to deal with problems that are hard to solve by themselves in crypto trading.

Crypto trading bots make trades based on parameters such as price, volume, and historical data along with market sentiments, price patterns, and indicators such as Bollinger Bands, RSI, and moving averages, all of which are already configured into their programming to start working automatically. 

For instance, BitIQ is a trading bot that operates in the crypto market. It leverages algorithms and machine learning to analyze market trends and execute trades on behalf of users.

Crypto Boom & Rise of Trading Bots

The popularity of crypto has led to a surge in demand for trading bots, which aim to exploit the rapid price movements presenting both opportunities and risks. As the crypto market evolves, trading strategies such as those based on machine learning are also advancing, and in tandem with this evolution, the usage of trading bots in the space is also increasing.

Trading Signals 

AvaTrade Trading Signals

Trading signals are a valuable tool that allows traders to identify any potentially profitable trading opportunities and then act upon them. These signals, generated by advanced algorithms and analysis techniques, give traders ideas or recommendations for when to execute trades at already set price levels and at a specific time. 

Signal providers leverage advanced technology and time-tested strategies driven by data to analyze different market factors, including market sentiment, fundamental news, and technical indicators, to single out potential trading opportunities for you to take advantage of. These signals are communicated to traders through communication channels such as text, email, or WhatsApp.

Platforms like Learn2trade and Cryptosignals.org send out a set of important information that tells you how to profit in real-time via Telegram.

Trading signals offer a range of benefits to traders of all levels of experience — while novice traders can learn about the intricacies of the market and generate profits, experienced traders can enhance their profitability and broaden their trading horizons.

Benefits of Using an Automated Trading Platform

learn2trade homepage

Automating trading platforms have been used widely across markets for a reason, including:

Accessibility

Automated trading platforms offer a reachable route to trading. Bolstered by the advances in technology and the growing popularity of social trading, there has been a surge in the number of auto-trading networks in the market, making them easily and even freely accessible. Furthermore, these platforms allow you to trade throughout the day without constant input from you, giving you free time to spend on your other hobbies.

Minimizing Emotions

Unlike humans, machines have no emotions, which means automated trading keeps responses like excitement and fear, which can be detrimental to your trading, in check throughout the trading process. By minimizing emotions, these platforms allow you to adhere to your carefully crafted plans and execute them effectively, avoiding any irrational decision making. 

Given that trading here is executed automatically, as soon as the predetermined conditions are met, such platforms can be of immense help to those traders who hesitate with trades, allowing them to stay true to their trading strategy outlined in the algorithm. 

Auto trading is particularly helpful to those traders who second guess themselves and tend to delay pulling the trigger. Additionally, it can curb overtrading, which is buying and selling at every perceived opportunity.

Discipline

When dealing with volatile markets, especially crypto, it is easy for emotions to take over. It then becomes extremely difficult to not rush in due to a fear of missing out (FOMO) or the fear of loss. Here, automated trading platforms help by making it all automatic, hence allowing you to stay true to your plan and follow it as you have laid it out carefully.  This way, such platforms help traders maintain discipline and achieve consistency, which gives you greater chances at success and profitability.

Diversification

Automated trading systems allow you to make use of all kinds of different trading strategies, from Arbitrage, Trend Following, Mean Reversion, Momentum Trading, Index Fund Balancing to Execution-based strategy, Position sizing, Breakout Trading, Sentiment Analysis, Swing Trading, Scalping, Delta Hedging, and more.

Besides being able to trade various strategies, you can also use these platforms to allocate your portfolio to different assets. This diversification allows you to hedge your positions, spread your risk, and even potentially make money in different types of markets.

Backtesting

To find out if a strategy really works, you have to first test it. You can do so by implementing your rules on past market data. After all, auto trading is all about implementing the configured rules automatically, and if your rules/strategy in itself is wrong, the computer system can’t help you achieve your goals. 

So, through backtesting, you can fine-tune your trading idea before risking money in live trading and reduce the possibility of losses. 

Improving Speed

Since computers respond instantly as soon as trade criteria are met, automated trading enables faster transaction execution. Consequently, this leads to more orders being executed in a shorter amount of time and with greater precision. 

After all, entering or exiting a trade mere seconds sooner can significantly impact the outcome, especially in hyper-volatile markets like crypto. This efficiency makes execution of a large volume of orders possible, and that, too, in mere milliseconds, as opposed to humans, who would otherwise need days. 

How we ranked the best automated trading platforms

Choosing the right platform is simply crucial to your trading success. And the best automated trading platform will give you swift access to market changes while offering you the utmost security and quality customer support. 

Moreover, the right platform should not only be reliable but must also align with your individual trading goals and, of course, risk tolerance.

So, while making this list of the best automated trading platforms, we took the following factors into consideration:

Ease of Use

A good automated trading platform should be easy to use, even if you are new to the trading scene and aren’t tech-savvy. So, we need to make sure the interface is user-friendly and intuitive and facilitates efficient order placement. Easy access to essential trading information further helps in making timely and optimal decisions. 

But of course, you need a platform that caters to your specific preferences because what works for one trader may not always work with another one. Also, in today’s digital world where mobile phones are the way to not just entertainment but also work, we need to make sure that the automated trading platform has mobile applications for both iOS and Android devices so that you can trade on the go.

Trading Tools 

Plus500 Automated Trading Homepage

Several platforms provide a range of financial instruments, such as stocks, commodities, ETFs, forex, and cryptocurrencies. So, it needs to be made sure the platform you choose actually supports the instruments that you want to trade. Moreover, the trading tools on a given platform should align with your trading strategy. 

Every trader has different strategies and preferences, which means you need a platform that has significant customizable options so that you can adjust it to suit your unique needs. And alongside customization, it’s also important to consider the type of order execution and the speed of execution before deciding on the best platform.

Features

Those who wish to dip their toes into automation may look into features like copy trading to follow experienced investors or semi-automated bots via signals to place your bets manually.

When it comes to choosing an automated trading platform, it is crucial to consider features such as real-time data, advanced charts, risk management tools, and several options for technical indicators and timeframes.

Moreover, examining educational materials offered by platforms in terms of news, market analysis, reports, guides, webinars, courses, videos, and other resources to help in your trading journey are just as essential for traders to make informed trading decisions. 

A reliable platform must also enable you to experiment with new trading features and strategies before you go live with your real money.

Security & Reliability

It is essential to make sure that the platform is reliable and secure. For that, we look for platforms that have been around for a while and have built a good reputation among traders. 

A trading platform regulated by a prominent authority such as FCA in the UK further ensures that it complies with the industry standards for financial practices. Other factors that we need to consider when choosing a platform for automated trading are its terms of service and privacy policies.

It’s also important to look at a platform’s historical uptime and if it had any significant downtimes recorded in the past. Given that the trading platform you choose will be the one providing you access to markets and where you’ll make your trades, you need it always functioning or risk missing out on lucrative opportunities. 

As for security, a platform must utilize two-factor authentication and strong encryption protocols like SSL/TLS encryption to prevent unauthorized access to sensitive information.

Customer Support 

Plus500's Customer Support

A good platform offers responsive customer support to help its clients whenever any issues or questions arise about using the software or technical difficulties. Knowledgeable customer service must also be available 24/7 via several methods, including phone, email, and live chat. 

Additionally, user reviews and testimonials help gauge other traders’ experiences of the platform and its reputation in the market.

Pricing Model

No matter how good a platform is, it must fit into your budget. Some platforms offer monthly subscriptions, while others have a per-transaction basis pricing model.

Then, there are fees charged by different platforms that need to be compared by considering factors such as commission, spread, transaction fees, subscription fees, deposit and withdrawal fees, charges on currency exchange, inactivity fees, and management fees. Ultimately, the optimal platform is the one that provides the best trading experience while being affordable.

Conclusion

Automated trading continues to revolutionize trading. Fueled by increasing demand for speedy, dependable, and efficient execution of orders, algorithmic trading platforms are growing in popularity at a rapid pace. However, it’s important to note that mechanical failures can still occur, and consistent monitoring is also necessary.

As we exit the crypto winter and trading becomes more popular, and more frantic with the way prices can rise, investors should consider something like eToro. eToro offers actively managed Smart Portfolios as well as copy trading features that combine all the best features of automated trading with a human touch. This means that there is a combination of both technical analysis and fundamental analysis, which can help you weather adverse market conditions and capitalize on any opportunities. 

References

  1. https://straitsresearch.com/report/algorithmic-trading-market
  2. https://www.fca.org.uk/about
  3. https://www.fca.org.uk/firms/copy-trading
  4. https://corporatefinanceinstitute.com/resources/data-science/moving-average/
  5. https://www.ig.com/uk/trading-platforms/algorithmic-trading/what-is-automated-trading
  6. https://www.ft.com/content/0de17dc3-5f70-45c2-a933-2f914bac32d2
  7. https://www.handbook.fca.org.uk/handbook/glossary/G217.html#:~:text=(1)%20the%20investment%2C%20specified,a%20contract%20for%20differences%3B%20or

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Gaurav Roy
Editor
Gaurav Roy
Editor

Gaurav is a seasoned content specialist and researcher with over 5 years of remote work experience, engaging with clients across the US, UK, Australia, Israel, Germany, Netherlands, Canada, India, New Zealand, Singapore, and more. His expertise spans email outreach, in-depth research, and versatile content creation. He boasts over 600 research projects completed with AskWonder and has successfully led a team of research analysts for two years. He has a diverse portfolio, having supported companies like Casino Tops Online, Sweep Stakes Casino, PayGamble, Odds Scanner US, and Sambafoot UK, demonstrating his proficiency in the iGaming sector. He has contributed as a…

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