The automated trading software relies on an algorithm to scan the market and find profitable trades it could profit from. The most popular is MetaTrader 4 and 5, Zulu trade, and Biticodes, the new start in the market. Let’s see what these four automated trading systems offer their users.
MetaTrader 4: market leader
Considered the gold standard of trading platforms, MetaTrader 4 is free software for auto trading forex and other financial instruments such as futures, CFDs, indices, cryptocurrencies, and commodities. This software is available on platforms that have individual licenses. You will be able to test your trading strategy on the market thanks to the “Strategy Tester” option.
MetaTrader 5: multifunctional software
She is the youngest of MT4. MetaTrader 5 is a multi-purpose, multi-asset platform for already confident traders. The platform provides price data and enables the use of a particular type of non-tradable asset like physical gold. It allows you to trade automatically through several accounts with different brokers.
Biticodes: crypto trading software
Biticodes is relatively new trading software, but it turned out to be one of the most efficient and accurate on the market. This automated system was developed with a focus on cryptocurrency trading. So if you are interested in trading cryptos but are overwhelmed with different strategies and tricks you don’t know how to apply, this trading bot is for you. It offers an effortless trading process and is used by more than half a million users worldwide. If you want to get to know this software better, check out the Biticodes review, which thoroughly gives all the necessary information.
ZuluTrade: automatic and social trading software
ZuluTrade is a social trading and copy trading software. Its “The Automator” feature alerts the user via email or performs actions automatically when events occur.
What can be traded with automatic trading?
Once your platform or software has been configured, you let the robot trade automatically. Your custom algorithm will apply the criteria and place trades on your behalf around the clock. Transactions are automatically executed faster and more efficiently, and in the end, you profit from technical market events.
With the automatic trading robot, you can speculate on all financial markets, including:
- Crypto-currencies: Bitcoin, XRP, Ethereum…
- Forex: currency pairs such as EUR/GBP, EUR/USD…
- Equities: Google, Amazon, etc.
- Stock market indices: CAC 40, NASDAQ, NYSE, etc.
- Commodities: Gold, silver, wheat, oil…
How to make the final choice
First, before deciding which software to choose, make sure it offers the asset you want to trade. Then check if it provides the demo trading options since it’s indispensable to scrutinize all the features before venturing into real trading. If it seems a good fit for your trading needs, you can register, fund your account and start trading. The registration process is simple and similar to all the above-mentioned automated trading platforms.
Automated trading robots are awesome tools that help seasoned and novice traders to reach decent profits on whatever facial market they choose to trade. However, keep in mind that these tools are not all mighty. You cannot neglect the importance of setting the trading parameters, such as stopping loss and taking profit carefully. And finally, you need to take care of your basic education on financial markets.