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Automated Forex Trading

The following is a comprehensive list of automated Forex trading brokers. You can rest assured that the automated Forex trading reviews listed below were conducted with the utmost level of professionalism and objectivity. We highly recommended that you read these reviews, open a demo account with several different automated Forex traders, and only then open a real account with the automated trading service that best suits your needs.

A Look at the Top Algorithmic Trading Platforms

When it comes to choosing an automated Forex broker it's important to test the algorithmic trading software offered by each company. While many claim to offer similar services, the actual execution of the algo trading differs from broker to broker. Likewise, the currency pairs available vary between different services, so it's important to check which algorithmic trading platforms offers the pairs that you're interested in.

Algorithmic trading platforms provided by Forex Trading systems follow a defined set of instructions for placing a trade order. The aim of the algorithmic trading program is to identify lucrative opportunities and place the trades automatically in order to generate profits at a frequency and speed that cannot be done by a human trader. Forex automated systems are also ideal for traders who wish to benefit from market opportunities without being tied to the markets at all times. No matter what reason you have for choosing algorithmic trading software, there will be a great option for you. All you need to do is look around.

Automated Forex Trading

eToro, founded in 2007 and domiciled in Limassol, Cyprus, is a leading social site on the global scene with over 6M traders. It is regulated by CySEC, MiFID, FCA and has been the recipient of several awards.
Your capital is at risk .

The AvaTrade AutoTrader is a trading system that has been called a revolution in the online trading market. Traders can take advantage of the reliability of a highly respected Forex brokerage in conjunction with trading strategies from global trade leaders. They can choose from a wide range of strategies and ‘buy’ the strategy that has performed best in a chosen period of time. Once they have chosen a particular strategy, it starts to automatically execute buy and sell orders in his Forex trading account.

ZuluTrade, founded in 2007, was created in order to enable traders to share their knowledge with people interested in their strategies. In the strictest sense, ZuluTrade is considered a Forex autotrading platform, as it allows traders to automatically copy the trades of others into their own trading platform. Many also consider it a social trading platform, however, because traders can leave comments and feedback and see live feeds of other traders' activities.

FXCM (Forex Capital Markets) was founded in 1999 in the U.S.A. and was an early pioneer of internet-based trading. FXCM was listed among the fastest growing companies by Inc. 500 List of America’s Fastest Growing Companies three years in a row. The FXCM Group has headquarters in New York, with offices around the globe in places such as the U.K., France, Italy, and Australia. It is regulated and licensed in each of them. FXCM is also a publicly traded company on the Nasdaq Exchange, the major U.S. exchange listing the equity of large technology-based companies.

Trade360 CrowdTrading is a Cypriot broker domiciled in Cyprus and regulated by CySec (Cyprus Securities and Exchange Commission). Cyprus is a regulated and well known domicile for brokerages. They are also covered by MiFID regulation. Trade360 is under constant scrutiny and review.

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Risk Disclaimer: DailyForex will not be held liable for any loss or damage resulting from reliance on the information contained within this website including market news, analysis, trading signals and Forex broker reviews. The data contained in this website is not necessarily real-time nor accurate, and analyses are the opinions of the author and do not represent the recommendations of DailyForex or its employees. Currency trading on margin involves high risk, and is not suitable for all investors. As a leveraged product losses are able to exceed initial deposits and capital is at risk. Before deciding to trade Forex or any other financial instrument you should carefully consider your investment objectives, level of experience, and risk appetite. We work hard to offer you valuable information about all of the brokers that we review. In order to provide you with this free service we receive advertising fees from brokers, including some of those listed within our rankings and on this page. While we do our utmost to ensure that all our data is up-to-date, we encourage you to verify our information with the broker directly.

Risk Disclaimer: DailyForex will not be held liable for any loss or damage resulting from reliance on the information contained within this website including market news, analysis, trading signals and Forex broker reviews. The data contained in this website is not necessarily real-time nor accurate, and analyses are the opinions of the author and do not represent the recommendations of DailyForex or its employees. Currency trading on margin involves high risk, and is not suitable for all investors. As a leveraged product losses are able to exceed initial deposits and capital is at risk. Before deciding to trade Forex or any other financial instrument you should carefully consider your investment objectives, level of experience, and risk appetite. We work hard to offer you valuable information about all of the brokers that we review. In order to provide you with this free service we receive advertising fees from brokers, including some of those listed within our rankings and on this page. While we do our utmost to ensure that all our data is up-to-date, we encourage you to verify our information with the broker directly.

PerfectTrendSystem.com (Mike Semlitsch) Review Visit site

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I've been trading using the Double Top/Bottom indi since last December. I discovered Mike's Forex Factor thread after searching for others that traded double tops/bottoms. I've been trading them for several years using, "Trader Vic: Methods of a Wall Street Master", 2B and 123 Reversal patterns but just recently (past 10 months) with a twist of my own. I was amazed to find how well Mike's indi worked and in situations I would never have considered. That's because he just doesn't look at the pattern but understands the mechanics behind them, which he shares with you. This understanding alone is worth it's weight in gold.

A little later after I joined he designed a customizable Alerter to the setups that would email you if a signal occurred. This is great for those with a full time job and unable to stare at charts all day. Unfortunately for me, and Mike who spent 40 or more emails trying to help me (thanks Mike!), I was unable to get emails. Others had the same problem mainly associated with security issues between MT4 and Gmail. So Mike designed a way to bypass the problem and started a service that has MT4 send the Alerter's signals to his server and then sends it to your inbox.

Mike also started a Telegram group to discuss setups to give support for others trading the system get the most out of it and learn from veteran traders of the indi. I watched the group grow from 20 or so just before the new year and now it's up to 525 members.

The Best Online Stock Trading Sites

How We Found the Best Online Stock Trading Sites

13 Trading Sites Analyzed

2 Financial Experts Consulted

The Best Online Stock Trading Sites

We tapped into the expertise of a former day trader and a financial commentator (with 20 years of trading experience) to grade 13 of the best online stock trading sites. To find our top picks, we analyzed pricing structures, dug into research and tools, and took every platform for a spin. Upfront: There is no one best online stock broker. Each has its own strengths and suits different types of investors and different investment strategies. We’ll help you find the best for your style and experience.

  • Ally Invest - Best Platform for Cheap Trading
    • Ally Invest leads the industry in low-cost commissions structure for all kinds of investors, from high-net-worth individuals to beginning buy-and-hold traders. It offers a $4.95 flat rate, zero account minimum, and enticing discounts for active investors – equity trades drop to $3.95 for users with 30+ trades each quarter or a balance of $100,000. (Read our Ally review)
  • E*TRADE - Best Trading Platform for Beginners
    • If you’re looking for something with an easy learning curve, but endless of room to grow, we recommend E*TRADE. Its learning center is filled with educational videos, articles, and webinars to guide your through the basics. (Read our E*TRADE review)
  • TD Ameritrade - Best Platform Design
    • TD Ameritrade offers two best-in-class platforms, designed for two types of investors. Trade Architect is good for beginners, or anyone who prefers a simplified, educational interface that can walk them through the ordering process and explain potential strategies. Thinkorswim, on the other hand, is a powerhouse designed for advanced investors. (Read our TD Ameritrade review)
  • OptionsHouse - Best Trading Platform for Active Traders
    • OptionsHouse is a top platform for investors with an options focus — but it’s the hands-down winner for active traders. Like Ally Invest, it’s been a longtime leader in rock-bottom pricing, with a flat $4.95 trade commission, and, unlike many brokerages catering to active investors, no account minimums or inactivity fees. (Read our OptionsHouse review)
  • Fidelity - Best Research and Tools
    • We loved Fidelity’s clean and customizable interface, the robust in-house education, and the way they turned the flood of data from the stock market into an easy-to-understand and visual dashboard. (Read our Fidelity review)

How We Found The Best Online Stock Trading Sites

It’s a tumultuous time for online stock brokers. The players have largely remained the same, but between significant cuts in commissions and a few major acquisitions (E*TRADE acquired OptionsHouse; TD Ameritrade and Scottrade merged; Ally Invest now lives under Ally Bank), the competition is on its toes. We leveraged seasoned expertise to dig into 13 of the most popular online stock trading sites; here's what we found important.

  • Charles Schwab
  • E*TRADE
  • Fidelity
  • Interactive Brokers
  • Lightspeed
  • Merrill Edge
  • OptionsHouse
  • OptionsXpress
  • Scottrade
  • Robinhood
  • TD Ameritrade
  • Ally Invest
  • TradeStation

Low overhead is key

Different investors are going to prioritize different things. A day trader, for example, requires speed and flexibility. A first-time trader may value educational resources and reliable customer support. But one thing every trader should care about is cost. Not paying attention to investment expenses is like revving your car engine while filling it with gas. That's why we spent a lot of time balancing price with what each site offered.

Affordable pricing structures

Commissions are typically an investor’s largest expense. In 2016, an unassisted transaction fee averaged about $8. Since early 2017, competitive brokers including Fidelity, E*TRADE, and TD Ameritrade trade for as low as $4.95. The number of commission-free ETFs a broker offers also come into play.

Overall commission costs can also be affected by new customer promotions. Brokers may give you a chunk of free trades, based on your deposit amount. If your deposit can get you a substantial number of free trades, that can write off otherwise higher per-commission costs. Ally Invest offers small incentives for deposits as low as $500. Fidelity Investments, meanwhile, has a higher barrier for entry — it takes a $50,000 deposit, but then you'll get 300 free trades.

Low fees, as few as possible

We looked for brokers that go light on extra account fees, don’t charge extra to access data, research, and tools, and provide advice for a reasonable rate. Lots of brokers boast amenities like 24/7 financial experts, but most of those services come at a price.

Depending on your strategy, increased fees might just be the cost of doing business, but we aimed to mitigate these costs in our top picks. Seeing your nest egg shrink due to a tough market or bad strategy isn’t fun. It’s worse if you’re also getting dinged by unexpected fees, such as minimum account balance.

Powerful platforms

We tested each brokerage’s platform and weighed in on its standout features, ease of navigation, intuitive controls, and learning resources. Whether you’re looking to make a series of complex trades or to carefully execute your first, intuitive organization and just-in-time pointers are key to a satisfying platform experience.

Strong ratings from investment publications

Like any financial institution, an investment brokerage worth its weight has a strong reputation. We took ratings from noted publications like Barron’s and Kiplinger into account when separating the best from the rest. Our five favorites consistently rank top in both sites' yearly report, which marks brokerages on technology, usability, and cost.

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