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Best Automated Trading Software for Beginners to Choose in 2021

Automated trading software minimizes trading risks. Users can trade without the element of psychological or mental confusion. Advanced platforms prevent beginners from becoming the victims of their own emotions that often lead to enormous losses.

Computers and automated systems deliver the power of machine learning and wise decision-making taking into account specific financial factors. All you need is to configure automated trading software, allocate your capital, and manually close or open the position. Advanced trading platforms will do the rest starting from analysis to seeking the best selling or buying opportunities based on fundamentals technical analysis, indicators, and other crucial tools.


Today, we will discuss the main pros and cons of using the best automated trading software as well as the top 3 options available in the market today.

Automated Trading Software Explained for Newbies

Trading software utilizes specific algorithms necessary to monitor and overview various market conditions. For example, stock traders can use it to configure it depending on their preferences and needs like caps for stock prices. Besides, users can set exit and entry points using the software letting computers take care of the risk management issues.

When configured, the software will screen all available offers and choose the one that fits chosen criteria. What’s more, the platform can execute trades based on the preferable parameters established by a trader.

While humans are not able to monitor all stocks and potentially profitable offers on the market, automated software comes with some obvious advantages making it possible to screen more assets and market conditions at a given moment. Additionally, advanced algorithms make it possible to execute trades in seconds as well as automatically identify trend or price reversal

At the same time, the software is quite limited, as it can only be used under specific market conditions. You should not consider it a universal instrument that will do everything for you, unlike copy trading where you do not have to do anything but copy deals conducted by professional traders. Sometimes, users over optimize software, which prevents it from meeting real-life market conditions.

Automated Trading Software Pros

Advanced technologies bring a massive set of benefits that are likely to work for a trader. If you opt for available trading software, you may consider the following advantages:

  • Trade execution in seconds.
  • Customizable trading parameters.
  • Orders that meet preferable configurations.
  • Reduced transaction costs.

Automated Trading Software Cons

Financial markets are far from being a perfect world. This fact reserves some space for software faults and errors, especially when over optimized by users. Before opting for it, you need to take into account the following misses:

  • A lack of control over trades and monitoring.
  • While backtesting can help you work out successful strategies, they can fail under real market conditions.
  • Platforms do not guarantee any success rate.
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Tips to Choose the Best Automated Trading Software

Selecting a reliable platform can be daunting for beginners. However, all you need is to rely on several baseline factors listed below:

  1. Market Access. The software should provide access to a preferable market with the assets you are eager to trade.
  2. Lower Latency. Make sure a chosen algorithm protects your investments with reduced latency, as some platforms come with a lag between completed transactions and initial price quotes.
  3. User-Friendly and Functional Interface. Although trading programs are “automated”, they still require management and configuration. Make sure you realize how to use all features and tools provided.
  4. Programming Access. Experienced traders can customize the software and change it to meet their preferred trading tactics. In this case, you will have to program the algorithm yourself. So, make sure the platform features program languages that meet industry standards.

Additionally, trading software is supposed to provide enough backtesting instruments.

Top 3 Automated Trading Software for Beginners in 2021

Now, let’s have a look at some of the top picks in the niche of trading software and programs. Here you will find some of the time-tested and proven names used by millions of traders despite the level.

1. MetaTrader 4

Launched in 2005, MT4 is a free platform that quickly gained the reputation of the best Forex trading software. It operates on MQL4 and MQL5 programming languages making it possible for users to create customizable algorithms (the process is the same as coding in C language).

One of the biggest selling points of the platform is full access to a comprehensive expert advisory. It involves automated trading strategies or robots designed for beginners and pros. What’s more, the basic version comes with a set of technical indicators and tools that can be updated manually. Additionally, beginners will find it easy to work with MT4 considering hundreds of educational videos, forums, articles, and other materials available on the web for free.

2. Interactive Brokers

A globally spread trading platform is currently used by traders from over 30 countries across the globe. Users can benefit from a vast selection of educational materials and strategies in the Traders University section. Besides, the system comes with its custom API solution letting experienced users integrate with other trading tools. The main drawback here is that it will hardly work for beginners.

3. Zen Trading Strategies

With Zen, users can test premium trading strategies. The platform makes it possible to try out various ideas and trading techniques. Here you can place stop losses and implement a selection of filters to configure the program. However, you will have only 1 week of free access. Then, all stats and performance instruments will be available only on a paid basis.

This material does not contain and should not be construed as containing investment advice, investment recommendations, an offer of or solicitation for any transactions in financial instruments. Before making any investment decisions, you should seek advice from independent financial advisors to ensure you understand the risks.