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The 21st Century has been characterized by heavy digitalization and technological revolutions and has managed to make its way through Forex Trading as well. Gone are the days of studying the market and making investment decisions, it’s time to let the bots do the work for you by using the best-automated trading software.
Kemistri has shortlisted the best automated trading software on the market by conducting research to understand your needs and make tailored recommendations.
The Best Automated Forex Trading Softwares
Metatrader 4
This trading software has multiple integration features, so a user will not have to open new accounts, but rather continue with another or different brokerage account.
Metatrader 4 runs on its own programming language, so it may not be best suited for those looking to program their own moves. Although, the programming that it runs is similar to languages like C.
Metatrader 4 is seen as best for new traders looking to get a good feel at data language and experienced traders looking for a more data-rich experience.
eOption
eOption specializes in its low price point and leveraging itself as low-cost options trading. This option goes beyond just forex though. eOption allows for trading of stocks, ETFs, bonds, and mutual funds. This means that as a trader if you want to trade in numerous markets, this could be a good choice.
If you are looking to be able to program some of your own options though, this may not be best suited for you though. eOption lets its users set up automated trading systems without any programming knowledge.
If you want any manual trading options, you must have a different eOption account though. Once a particular automated trade is set up, it cannot be deviated from by any manual means.
Interactive Brokers
This is another viable option for those looking to trade beyond just Forex.
This platform is well suited for both beginners and experienced traders. For those that are new to the Forex game, users are able to find plenty of educational materials to learn and support their trading journey. For the experienced trader, there is the option to use the Brokers’ API solutions.
These API solutions allow users to be able to use programming languages such as Java, Python, and C++. Python, at present, is one of the most popular and accessible programming languages.
There is also the option to be able to execute high-speed order routing as well. Although, this does not come automatically with the use of the platform. The monthly minimum commissions for using either the TWS or REST API is $10 per month.
SoFi Automated Investing
SoFi automated investing is considered one of the top automated forex trading software because it has one of the platforms with the least amount of fees associated with using the platforms and executing trades.
SoFi allows for trading beyond forex though, so another option for a trader looking to get into multiple markets…this includes crypto as well.
Lastly, if you’re looking for algorithms that would complement your trading software, definitely check out Kemistri, best suited for Metatrader 4.
Bio
Rachael is a content writer at ResumeCats, who has written on a Ultimate Resume Guide, from colored diamonds to SEO software. In her spare time, she enjoys singing, sketching, cooking, and video games.
