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Best Algorithmic Trading Platforms

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The top algorithmic trading platforms are eToro, AvaTrade, IG, Interactive Brokers, and Learn2Trade. eToro offers the best copy trading experience for algorithmic trading. AvaTrade has professional algorithmic trading platforms and services. Learn2trade is popular among investors because of its free trading signals. 

Each brokerage firm has strengths and weaknesses. This article discusses the best algorithmic trading platforms. 

Below is Our List of The Top 5 Algorithmic Trading Platforms: 

  • eToro has the overall best copy trading services for algorithmic trading. 
  • AvaTrade has top-rated algorithmic trading platforms. 
  • IG has the best algorithmic trading platform with ProRealTime charting. 
  • Interactive Brokers has the best algorithmic trading platform with robo-advisory services. 
  • Learn2Trade has the best free trading signals services. 
RANKBROKERGENERALPLATFORM SCOREBEST FORWEBSITE
#1eToroExcellent social trading features4.9 / 5Best copy trading services Official website
#2AvaTradePopular for new investors4.8 / 5Top rated platformsOfficial website
#3IGProRealTime charting5 / 5Dedicated Research ToolsOfficial website
#4Interactive BrokersRobo-advisory services4.9 / 5For professional investorsOfficial website
#5Learn2TradeFor traders at all levels3.9 / 5Best free trading signals servicesOfficial website

Our Top 5 Algorithmic Trading Platforms in Overview: 

01. eToro: Best Copy Trading Services For Algorithmic Trading

etoro-login

eToro offers a superior social trading experience with any proprietary platform. It is a secure broker with licenses from the ASIC and FCA. eToro provides a dedicated social trading space and algorithmic trading services. 

This broker offers a virtual trading account, a professional app, and a beginner-friendly proprietary platform. eToro has world-class social trading tools, including social sentiment.  


02. AvaTrade: Best Rated Algorithmic Trading Platforms 

avatrade-logo

AvaTrade is a popular brokerage firm for new investors. It has a dedicated learning center, low trading fees, and excellent algorithmic trading platforms. AvaTrade offers free courses and access to market data. 

This broker has well-designed desktop, web, and mobile platforms. It offers both MT4 and MT5 social trading services. Each platform is customizable and offers useful research and educational materials. 


03. IG: Best Algorithmic Trading Platform With Dedicated Research Tools

IG has some of the best customizable trading platforms with powerful research and learning tools. It offers access to excellent educational materials for traders at all levels. 

This broker has a professional web platform with access to many tools. It has a virtual trading account, training videos, and dedicated research tools. IG offers access to ProRealTime charting and many advanced research tools. 


04. Interactive Brokers: Best Algorithmic Trading Platform with Robo-Advisory Services

interactive-brokers-logo

Interactive Brokers is one of the best brokers for algorithmic trading with premium services and tools. It offers many research and learning materials for professional investors. 

This brokerage firm provides a premium algorithmic trading experience. It offers charting, market data, and excellent robo-advisory services. Interactive Brokers uses premium technology to provide the best online trading experience. 


05. Learn2Trade: Best Free Trading Signals Services 

Learn2Trade is a premium forex signals provider based in the UK. It offers signals with an exclusive telegram channel. It is an excellent service that covers major financial markets, including cryptocurrency and forex. 

It offers some of the best free trading services for traders at all levels. Learn2Trade has a versatile education platform with many guides on how to trade. 


What Is Algorithmic Trading? 

Algorithmic trading uses computer software and algorithms to open and close positions. It uses parameters like price movements in specific markets. When market conditions match the pre-established rules, trading algorithms start a buy or sell order automatically. As a result, a trader will spend less time analyzing the markets. 

Which Are The Advantages of Algorithmic Trading? 

Algorithmic trading is a top choice for passive trading strategies. It allows traders to analyze and gain exposure to financial markets 24/7. It is a flexible solution to eliminate common errors related to investor psychology. Read our in-depth reviews to learn more about algorithmic trading and brokerage firms. 

Which Are The Drawbacks of Algorithmic Trading 

Trading comes with risks, so you should always choose a regulated broker. Trading strategies may have negative results in live trading conditions. Algorithmic trading might be challenging for new investors as it is difficult to check the reported success rates of bots and signals. 

Which Are The Best Algorithmic Trading Strategies? 

A price action algorithmic trading strategy is one of your top choices. It uses previous opening and closing prices to start a buy or sell order when pre-programmed levels occur in the future. Traders create an algorithm to execute buy or sell orders when the price moves or drops beyond a specific level. 

Another professional algorithmic trading strategy to use involves technical analysis. A technical analysis strategy uses technical indicators like Bollinger Bands and MACD. It allows traders to create an algorithm that acts on trading parameters like opening a position when market prices drop. 

Final Verdict 

eToro, AvaTrade, IG, Interactive Brokers, and Learn2Trade are the best algorithmic trading platforms. eToro is our top choice because of its impressive copy trading services and platforms. AvaTrade is a good fit for traders at all levels as it has straightforward platforms and learning tools. Learn2Trade offers the best free trading signals services. 

FAQ 

We use real accounts and money to assess algorithmic trading platforms. Our findings depend on 105 criteria, including platforms and asset portfolio. 

Can Algorithmic Trading Offers Impressive Profits? 

AI trading algorithms scan the markets and execute orders 24/7. The software identifies the perfect trading opportunities to generate profits. Read our in-depth reviews to learn more about algorithmic trading, profits, and risks.

Is Algorithmic Trading A New Approach In the Industry? 

No. Algorithmic trading appeared back in the 1980s. It is popular with institutional investors for a broad range of purposes.

Do Banks Use Algorithmic Trading? 

Yes. Investment banks, institutional traders, hedge funds, and retail investors use algorithmic trading to execute large and frequent orders. It offers access to an efficient and straightforward trading approach.


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Methodology 

The mission of Business24-7 is to provide comprehensive, unbiased ratings and reviews of online providers. User experience, the mobile experience, customer service, costs and fees, security, the quality of trade executions, the products available on their platforms are all part of our six-month evaluation of a providers’s platform. The rating scale was based on thousands of data points that have been weighted into the scoring system.

Providers were also required to fill out a multi-point survey regarding every aspect of their platform. In-person demonstrations and evaluations were provided by the majority of the online providers we reviewed.

Stefan Grasic, along with our team of industry experts, conducted our reviews and developed this methodology for ranking what form is used in online investing.

Business24-7 maintains high editorial standards and provides the best advice and recommendations. The products and companies that we review may compensate us when you click on the links on this website. Click below to find out more about our review process and methodology.

Disclosure

All trading involves risk. More than 80% of investors lose in spread bet and CFD trading. As these complex instruments allow for the use of leverage, there is a high risk of losing more money than you have deposited. Before attempting to participate in spread bets and CFDs, consider how well you understand them and if you can afford to lose your money.

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Braden Chase is an investor, trading specialist, and former research specialist for Forex.com who helps aspiring investors develop the confidence and habits they need to make an income from the market. Braden has served as a registered commodity futures representative for domestic and internationally-regulated brokerages and has also spoken & moderated numerous forex and finance industry panels across the globe.

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