Best Automated Forex Trading Software

Best Automated Forex Trading Software

forex trading platforms uk

  1. Introduction
  2. What is automated trading software?
  3. How does automated trading software work?


Automated trading now accounts for the majority of orders executed in forex: in the US alone, about 70% of daily transactions are performed via automated trading software!

why? If you've done a lot of forex trading, you will know just how stressful trading can be, especially if something goes wrong. There are traders who dream of a partner who is smart, unemotional, and logical, always looking for profitable deals, and can execute those trades almost instantly. If you're looking for all of that and more, look no further - these traits also describe automated trading software.

Automated trading software can be used to trade in a range of markets, including forex, stocks, commodities, cryptocurrencies, and more. The program simply analyzes the market, opening a trade so you don't need to execute it manually. In short, using the automated software, you can operate your trading terminal, activate the program, and then walk away while trading the software on your behalf.

What is automated trading software?

Before we can cover what is automated forex software, we need to start with the basics: What is automated trading?
Simply, there are two types of trading:

1. Manual trading

2. Automated trading

Manual trading is when you manually open and close trades in your trading platform. On the other hand, automatic trading occurs when a program analyzes the market and places a trade based on predefined criteria.

Automated trading software, also known as expert advisors or expert advisors, can open and close trading positions without human intervention. Some automated programs use technical analysis to make mathematical trading decisions, while others use economic news to place orders.

How does automated trading software work?

Automated forex trading software analyzes market information in order to make trading decisions. This information may include currency price charts, news, and economic events, spread fluctuations, and other market activities.

By analyzing this data, using criteria programmed by the trader, the software identifies trading signals and creates a buy or sell alert based on those parameters. At this alert, the software can be programmed to automatically execute the trade.
In short, the functions that a forex automated trading software can perform include:

1. Market analysis, including technical analysis and fundamental analysis based on your trading strategy

2. Automatically open trades when specified conditions are met

3. Close open positions according to the specified conditions (take profit, stop loss, reversal ...)

4. Risk management, by determining the size of open positions or the number of open positions you have at any time
If you have an automated forex trading strategy, you can program your own automated trading software to analyze and trade the markets 24 hours a day, allowing you to seize all potential trading opportunities.

Having said that, although trading algorithms can be great tools, bear in mind that using a forex trading software does not guarantee profit. The results will depend on the strategy used, and the winning strategy may become a loser if market conditions change.

Are you ready to start automated trading? 

So you can try out a bunch of different tools for free with Admiral Markets?
How do? The process is simple:

1. Sign up for a free demo account.

2. Download and install MetaTrader 5.

3. Download and install MetaTrader Supreme Edition.

4. Open MetaTrader on your computer, and log in with your demo account details.

Then you can start using our free Expert Advisors to see how automated trading works!