| Online Broker | Minimum Deposit | Automated Currency Trading Platforms | About |
|---|---|---|---|
| Pepperstone | $200 Minimum Deposit | MT4, MT5, cTrader, TradingView Automated Trading Platforms | Pepperstone offers automated currency trading on MT4, MT5, cTrader and TradingView About |
| IC Markets | $200 Minimum Deposit | MT4, MT5, cTrader Automated Trading Platforms | IC Markets offers automated currency trading on MT4, MT5 and cTrader About |
| NSFX | $300 Minimum Deposit | MT4, JForex Automated Trading Platforms | NSFX provides automated currency trading on MT4 and JForex About |
| Vantage | $200 Minimum Deposit | MT4, MT5 Automated Trading Platforms | Vantage provides automated currency trading on MT4 and MT5 About |
| FXOpen | $1 Minimum Deposit | MT4, MT5, TickTrader Automated Trading Platforms | FXOpen offers automated currency trading on MT4, MT5 and TickTrader About |
| Titan FX | $200 Minimum Deposit | MT4, MT5 Automated Trading Platforms | Titan FX provides automated currency trading on MT4 and MT5, allowing a wide range of trading styles About |
| XM | $5 Minimum Deposit | MT4, MT5 Automated Trading Platforms | XM offers automated currency trading on MT4 and MT5, including a Micro (cent) account with low minimum trade sizes About |
| FXCC | $100 Minimum Deposit | MT4 Automated Trading Platform | FXCC provides automated currency trading on MT4, including its ECN XL account, with Forex spreads from 0 and no mark-up About |
| ThinkMarkets | None Minimum Deposit | MT4, MT5 Automated Trading Platforms | ThinkMarkets provides automated currency trading on MT4 and MT5 About |
| FOREX.com | $100 Minimum Deposit | MT4, MT5 Automated Trading Platform | FOREX.com provides automated currency trading on MT4 and in some regions also MT5 About |
| City Index | $150 Minimum Deposit | MT4 Automated Trading Platform | City Index offers automated currency trading on MT4 About |
| FXTM | $50 Minimum Deposit | MT4, MT5 Automated Trading Platforms | FXTM offers automated currency trading on MT4 and in some regions MT5, and provides a Micro (cent) account About |
Automated Currency Trading - What Is It
These brokers offer platforms which can be used for automated currency trading. But what is automated currency trading ?
What is automated currency trading ?
Automated currency trading is using computer programs to make trading decisions about currency pairs. Trading can be divided into two categories, discretionary trading and automated trading. However they have similarities. Typically a discretionary trader, who makes the decisions to trade, uses rules to make a trade. These rules can be lighter or harder depending on various factors. For example a trader might buy or sell when given a signal from a technical indicator.
However the trader may find that it is impractical for them to trade all the time like this. So automated trading allows the trader to codify these rules into a computer program which is then executed on their behalf. There are disadvantages to this, as without the human touch, trading can be too automatic, as the human trader can choose when and how to apply rules. Trading programs or system can result in large losses or drawdown (even if the end result is positive).
The advantage is that human issues with emotions or exhaustion do not apply, as the program is dispassionate and never tires. It can also be possible for a system to be adjusted by a human. The trader can run these programs from their computer, but they can also be run 24/7 even when the computer is disconnected. To do this requires the use of a Virtual Private Server (VPS) which is a computer which will host and run these programs 24/7.
What kind of broker is suited to automated currency trading ?
The broker needs to provide a currency trading platform which supports automated trading. Not all do, some are dedicated to discretionary trading. However platforms such as MT4, MT5, cTrader and JForex, which can be found at a range of brokers, do support this kind of trading.
