We use cookies to give you the best possible experience on our website. By continuing to browse this site, you give consent for cookies to be used. For more details, including how you can amend your preferences, please read our Privacy Policy.
More Info Accept
81% of retail accounts lose money when trading CFDs with this provider. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 81% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. expand_more

What is the best automated trading platform?

September 14, 2020 12:50 UTC
Reading time: 6 minutes

Trading the financial markets has changed drastically over the years largely thanks to significant leaps in trading technology. One of the biggest developments has been the ability for retail traders to access automated trading strategies. But what is the best automated trading platform to get started with? Read on to find out more!

best automated trading platform

What is automated trading?

Automated trading is the process of using computer algorithms and trading robots to automate the process of buying and selling. These algorithmic programs consist of lines of codes which are specific trading instructions on what to do in different scenarios inputted by the trader. Many retail traders like the idea of automated trading but is automated trading profitable?

Further on in this article, you will see how to access a range of different automated trading strategies from other traders and programmers so you can actually see the statistics yourself on whether a system is profitable or not. Most new traders search for the 'dream' system which trades all the time and gives profitable trades across different market conditions. Of course, most of them are disappointed and consistently ask themselves: do trading robots really work?

Most successful automated traders use a combination of trading robots and human analysis. For example, a trader may recognise certain market conditions and then choose to turn on a suitable automated system to capitalise on that particular condition. The trading robot simply removes the emotion from taking and managing the trades themselves which can be challenging for many.

What is the best automated trading platform?

While there are different automated trading platforms in the marketplace, one of the best automated Forex trading platforms is MetaTrader. This platform is also fast becoming the best automated Bitcoin trading platform too as users trade cryptocurrency CFDs (Contracts for Difference) capitalise on both rising and falling markets. Admiral Markets UK Ltd offers users the ability to use automated trading features on both the MetaTrader 4 and MetaTrader 5 trading platforms which is available for download on Windows and Mac.

The MetaTrader trading platform provided by Admiral Markets offers many features such as real-time prices, multi-asset class trading, access to different technical indicators and more. However, one of the most significant features is the access to the MetaTrader Market place. This allows traders to download free, and paid-for, custom indicators and automated trading strategies called Expert Advisors.

You can download the MetaTrader 4 or MetaTrader 5 trading platform completely FREE from Admiral Markets and not only access the ability to trade on multiple asset classes but also gain access to the MetaTrader Market place. To start your free download click on the banner below! It may also be useful to do so now, so you can follow through on some of the next examples on how to get started with automated trading.

Trade With MetaTrader 5

How to start using an automated trading strategy

So, how do you automate a trading strategy? After downloading your MetaTrader trading there are a few different options, as highlighted below:

  1. Learn coding languages such as C++ to develop your own automated trading robots.
  2. Work with a programmer to develop a system based on your needs and trading rules.
  3. Find a system that works best for you in the MetaTrader Market place.

One of the reasons MetaTrader is so widely used is due to the extensive community of traders, programmers and developers in the MetaTrader Market. In MetaTrader you can open the Toolbox (Ctrl+T) and in MetaTrader 4 you can open the Terminal (Ctrl+T) to find the Market place.

best automated trading platform - screenshort metatrader market place

An example screenshot of the MetaTrader 5 Market place.

The above screenshot shows the Market place in the MetaTrader 5 trading platform provided by Admiral Markets. Here, users can access Experts (automated trading strategies), Indicators, Libraries, Utilities, any Favourites already selected and any items that have been Purchased.

By clicking on the Experts tab, users are able to see the different automated strategies that are available. These are broken down into different categories and include:

  • Trend
  • Scalping
  • Level trading
  • Multicurrency
  • Grid
  • Martingale
  • Hedging
  • Neural networks
  • News
  • Arbitrage
  • Other applications

From here users can find an automated trading strategy for different types of market conditions and scenarios, some are paid for and some are free. A trader may run multiple systems, regularly turning them on and off when actual market conditions are optimal or sub-optimal.

Admiral Markets does not endorse any of these automated trading strategies and thorough testing should be done on one. It is particularly important to first trade a system on a demo account for a good length of time to see how it actually performs in real world conditions. Taking a random strategy as a hypothetical example below, most authors will provide screenshots and details of their system.

best automated trading platform - how to program an automated trading startegy on the MT5 platform

An example screenshot of the MetaTrader 5 Market place and random Expert Advisor.

In the MetaTrader Market window, traders have options on the top right of the screen to buy the strategy, download a demo of it or rent it. At the click of a button, users can start automatic trading based on the author's strategy. Many advanced traders may be more comfortable working with a programmer to develop their own system. In this case, thorough rules and understanding of your trading system will be essential.

Why start automated trading with Admiral Markets?

  • Open an account with a well-established, reputable company that is authorised and regulated by the Financial Conduct Authority (FCA).
  • Create a Trade.MT4 or Trade.MT5 trading account to use automated trading strategies on Contracts for Difference (CFDs) and potentially profit from both rising and falling markets across a large range of asset classes.
  • Download the world's most popular trading platform called MetaTrader for PC, Mac, Web, Android and iOS operating systems so you can also trade on the go while accessing automated trading features.
  • Gain access to the MetaTrader Market place to use free and paid-for custom indicators and automated trading strategies (Expert Advisors) created by other traders.

One of the best ways to get started with automated trading via a virtual trading account. By opening a FREE demo trading account you can test drive any automated trading strategy in real-world conditions. This is essential to learn how a system works live.

Click on the banner below to open you demo trading account today:

Trade With A FREE Demo Trading Account

About Admiral Markets

Admiral Markets is a multi-award winning, globally regulated Forex and CFD broker, offering trading on over 8,000 financial instruments via the world's most popular trading platforms: MetaTrader 4 and MetaTrader 5. Start trading today!

This material does not contain and should not be construed as containing investment advice, investment recommendations, an offer of or recommendation for any transactions in financial instruments. Please note that such trading analysis is not a reliable indicator for any current or future performance, as circumstances may change over time. Before making any investment decisions, you should seek advice from independent financial advisors to ensure you understand the risks.