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Best Forex Brokers with Automated Trading 2022

For this list, we have searched and tested several forex trading platforms offering automated trading services.

We opened real accounts and deposited between $4,000 and $8,000 with each of the brokers. We placed real trades in each popular market to get the real spreads.

We also reached out to customer support to solve issues that we had encountered. Finally, we withdrew our funds to see if there is any issue with the withdrawal process.

We handpick the best forex trading platforms offering automated trading based on our trading data and experience as a trader.

What is Automated Forex Trading?

Automated forex trading is a technique of trading using an automated algorithm and mostly minimum human intervention. The computer program is usually tried and tested by the trader.

The algorithms used in automated trading mostly analyze the market using technical parameters without focusing on the fundamentals. It analyzes the price patterns and decides when to buy and sell a currency pair.

Automated trading works best for trading currency pairs because of the massive liquidity of the forex market and the availability of the markets around the clock on weekdays.

The three key requisites for automated trading are:

  • Good trading platform (MT4 is recommended)
  • Support for VPS
  • Permision to use Expert Advisor (EA)

How to Start Auto Forex Trading?

Knowledge of trading is a must for automated forex trading. There are no special techniques used in automated forex tradings; it is only the orders executed at a faster speed using technical analysis without human intervention.

Many trading platforms like MetaTrader, cTrader, and TradeStation allow traders to easily write trading scripts using their native programming languages.

For example, traders can define stop-losses, trailing stops and trigger an order by automatically observing moving averages. Traders can also backtest and improve trading algorithms using the previous market data, a feature almost all trading platforms offer.

Some of the popular trading platforms and their programming languages for writing trading scripts are:

Trading PlatformProgramming Language
🖥 MetaTrader 4 (MT4)MLQ4
💻 MetaTrader 5 (MT5)MLQ5
📈 cTraderC#
📉 TradeStationEasyLanguage
📱 NinjaTrader 8C#
📊 ActTraderActFX

Forex Brokers with Algorithmic Trading

But is it necessary to be an expert trader for automating trades? Actually no.

There are many marketplaces where traders can share and buy trading robots. These robots can be easily implemented on trading platforms and the technique is popularly known as Expert Advisory or EA trading.

Though trading platforms of all brokerages support automated trading, we highly recommend traders check trading conditions. Many brokers do not allow or restrict strategies like scalping or hedging, which are very crucial to run high-frequency trading algorithms.

It is recommended to the traders to observe the trading activities although the trading activities are automated. But, expert traders also get the option to move their algorithms to Virtual Private Servers (VPS), which are remote servers and keep the algorithms running around the clock.

Best Forex Broker for Automated Trading

To select the best forex trading platforms for automated trading, we tested and reviewed several forex brokers. We opened live accounts and depositing real money with each broker.

We also placed real trades in popular markets to get the real picture of the spread and commission, trading platform, deposits and withdrawals conditions, education, and customer service.

  • IC Markets – Best Overall Automated Trading Forex Broker
  • OANDA – Best Automated Trading Forex Broker with MT4
  • FxPro – Best Automated Trading Forex Broker with cTrader
  • XM – Best Automated Trading Forex Broker for Beginners
  • Admiral Markets – Best Automated Trading Forex Broker with Low Fees

Best Overall Automated Trading Platform Broker

We have picked IC Markets as the best overall automated trading forex broker.

IC Markets is an excellent platform when comes to automated trading using Expert Advisors (EAs) and robots. It offers trading on all the top three platforms: MT4, MT5 and cTrader. Traders can access the vast EA library on the MetaTrader platforms, while experts can write scripts leveraging functionalities of cTrader.

The Australian broker does not have any limitations on trading strategies, meaning both hedging and scalping are allowed. It also offers VPS but charges a $20 fee for that.

IC Markets is regulated in multiple jurisdictions and lists around 559 instruments of forex, indices, stocks, commodities, and cryptocurrencies.

Best Automated Trading Forex Broker with MT4

We have picked OANDA as the best automated trading forex broker with MT4.

OANDA is one of the best when it comes to offering automated trading on the MT4 platform. It offers trading only on one platform, meaning all its resources are directed to MT4. It allows traders to install MT4 plugins from an impressive library, along with premium MT4 tools that include indicators and widgets.

AvaTrade offers trading with forex and CFDs of indices, commodities, shares and a few other asset classes. OANDA is a well-reputed broker and is regulated in almost all major countries.

Best Automated Trading Forex Broker with cTrader

We have picked FxPro as the best automated trading forex brokers with cTrader.

FxPro is one of the many brokers that offer trading services on the cTrader platform, which was developed by the company Spotware. The platform is known for its functionalities and tools and is a preferred one among experts.

Regulated in the UK, Cyprus, South Africa and the Bahamas, FxPro allows traders to run all trading strategies. It also provides VPS at a monthly charge of $30.

FxPro is known for its forex-centric services and lists 70 currency pairs, along with instruments of other asset classes. It also offers trading on MT4, MT5, and proprietary FxPro (EDGE).

Best Automated Trading Forex Broker for Beginners

We have picked XM as the best automated trading forex broker for beginners.

XM’s offering is best for beginner traders because of its excellent library of educational resources. Apart from that, its services for automated trading are also excellent.

The broker offers trading services with forex and CFDs of indices, stocks, and commodities. The trading platforms provided by it are MT4 and MT5, which are deemed as industry-standard. The broker offers excellent trading conditions and allows traders to run EA. It provides VPS too.

Best Automated Trading Forex Broker with Low Fees

We have picked Admiral Markets as the best automated trading forex broker with low fees.

When it comes to spreads and trading fees, Admiral Markets offers the best services. Its spreads charges by it on EUR/USD pairs are 0.6 pips, which is much lower than the industry average of 1.6 pips. According to our tests, spreads on other markets are almost much lower than the industry benchmarks.

Though the basic Admiral Markets account type does not charge any commission, higher-tier accounts charge trading fees but have tight spreads. The broker does not have any significant non-trading fees.

Coming to automated trading, the broker allows traders to run EA on both MT4 and MT5.

Automatic Forex Trading Brokers List

Apart from the shortlisted brokers, here is a complete list of forex brokers that allows automated trading with EAs and robots, which we have tested and reviewed.

Forex BrokerTrading PlatformsEA TradingVPSBroker Review
FxProMT4, MT5, cTrader, FxPro EDGEYes$30/monrhFxPro Review
Admiral MarketsMT4, MT5YesFree of charge if the client maintains minimum Live account equity of 5,000 EurosAdmiral Markets Review
BlackBull MarketsMT4, MT5YesFree for minimum of $2,000 deposit with 20 lots traded per monthBlackBull Markets Review
GO MarketsMT4, MT5Yes$10 or minimum trading volume of $1m notional value per month (approx. 5 lots)Go Markets Review
XMMT4, MT5Yes$5,000XM Review
FXTMMT4, MT5, FXTM TraderYesFreeFXTM Review
ICM CapitalMT4, MT5, cTraderYesFree for accounts that maintain a 4,000 USD balance or equivalent in EUR, GBP or SGDICM Capital Review
TickmillMT4Yes20% offTickmill Review
XTBMT4, xStation 5, xStation MobileYesYesXTB Review
RoboMarkets (RoboForex)MT4, MT5, R TraderYes$10/monthRoboMarkets (RoboForex) Review
PepperstoneMT4, MT5, cTraderYes20% offPepperstone Review
FBSMT4, MT5, FBS TraderYesFree under certain conditionsFBS Review
GKFXMT4, MT5YesFree when minimum starting balance of $4,000 and minimum trade of 10 lots per month. Otherwise, $25/month.GKFX Review
DarwinexMT4, MT5Yes£20/monthDarwinex Review
IC MarketsMT4, MT5, cTraderYes$20/monrhIC Markets Review
ThinkMarketsMT4, MT5, ThinkTraderYes15% offThinkMarkets Review
FP MarketsMT4, MT5, IRESSYesFree for over 10 lots on a standard trading account or 20 lots on Raw accountFP Markets Review
Amana CapitalMT4, MT5YesFreeAmana Capital Review
CMC MarketsMT4, Next Generation PlatformYesFree when you trade 15 minimum lots per monthCMC Markets Review
Vantage FXMT4, MT5YesFree with minimum balance of $1000Vantage FX Review
INFINOXMT4, MT5YesFreeINFINOX Review
Axi (AxiTrader)MT4Yes$34.99 of the monthly ForexVPS fee for customers who trade more than 20 lots in a calendar month.Axi (AxiTrader) Review

FAQ and More on Automated Trading Forex Brokers

Traders usually have many questions related to generic trading-related queries. We tried to pick and answer some of the most important queries related to forex brokers offering automated trading software with EAs and robots.

Brokers Allowing EA on MT4

Allowing traders to run Expert Advisories or EAs is a must for any trading platform which wants traders to automate their trades. And MT4 is the best platform to find EAs because of its vast community. Some of the forex brokers allowing Expert Advisory on MT4 are:

  • XM
  • Vantage FX
  • RoboMarkets
  • FxPro
  • CMC Markets

Brokers Allowing Scalping with EA

Scalping allows traders to run high-frequency Expert Advisories that enter and exit positions within seconds or even less. The brokers allowing traders to run both EAs and scalping are:

  • ThinkMarkets
  • FXTM
  • Axi (AxiTrader)
  • FBS

Best Automated Forex Trading Robot Software

Robots or automated trading software allow traders to run scripts, thus allows them to trade automatically based on the pre-decided parameters. There are many specific trading platforms and tools that allow traders to trade using robots. These are:

  • MetaTrader 4
  • MetaTrader 5
  • cTrader

Best Broker Allowing High Frequency Trading

High-frequency trading enters and exits positions in split seconds. Though the booked profits in each trade are very less (usually in cents), the massive number of executed trades makes the overall profits. Brokers need to allow scalping and provide VPS for facilitating high-frequency. Some of the brokers providing these two services are:

  • OANDA
  • GO Markets
  • CMC Markets

Forex Brokers Offering Free VPS

VPS allows traders to put their automated trading scripts to put in a remote server that is running around the clock (else traders have to run the scripts on their own computer) and usually responses very fast. Some of the forex brokers offering free VPS are:

  • XTB
  • OANDA
  • INFINOX
  • FXCM
  • Amana Capital

Best Automated Trading Platform UK

In the world of currency trading, automated systems offer a great way to take advantage. For favorable trading there are three essential conditions to pay attention to: trading platform, access to EAs, and support for VPS. Taking into consideration these important conditions we have tested a number of automated trading brokers UK. It is essential to choose a reliable broker with favorable offerings for successful automated trading.

Based on our tests we have come up with the following forex brokers with automated trading UK:

  • XTB
  • FXTM
  • AxiTrade

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5 Best Forex Brokers for Beginners 2022

For this list, we have searched and tested several forex trading platforms suitable Forex Brokers for beginners.

We opened real accounts and deposited between $4,000 and $8,000 with each of the brokers. We placed real trades in each popular market to get the real spreads.

We also reached out to customer support to solve issues that we hd encountered. Finally, we withdrew our funds to see if there is any issue with the withdrawal process.

We handpick the best forex trading platform for beginners based on our trading data and experience as a trader.

What is Forex Trading?

Forex trading is the process of buying and selling currencies solely for the purpose of making profits. Such forex traders don’t intend to use foreign currency for international trades or any other purpose. 

Forex trading always remained popular among institutions, but retail interest in the sector boomed with the beginning of electronic trading and internet penetration.

Retails traders can make profits from forex trading in two ways:

  • Take profit from the change of exchange rate
  • Profits (or loss) from the interest rates differentials of two currencies

Though experts usually indulge in forex trading, the minimum entry barriers attracted a ton of beginners towards the industry. Brokers are also now focused on making their platform beginner-friendly.

The characteristics of a good forex broker for beginners are:

  • Easy-to-use platform
  • Availability of good educational resources on both markets and trading strategies
  • Low trading fees
  • Transparent services
  • Excellent customer service

Best Forex Broker for Beginners

To select the best forex broker and trading platform for beginners, we tested and reviewed several forex brokers. We opened live accounts and depositing real money with each broker. We also placed real trades in popular markets to get the real picture of the spread and commission, trading platform, deposits and withdrawals conditions, education, and customer service.

  • XTB – Best Overall Forex Broker for Beginners
  • Markets.com – Best Forex Trading Platform for Beginners
  • Admiral Markets – Best Forex Broker for Beginners (Low Fee)
  • XM – Best Forex Broker for Beginners (Educational Resources)
  • Fortrade – Best Forex Broker for Beginners (Customer Service)

Best Overall Forex Trading Broker for Beginners

We have picked XTB as the best overall forex broker for beginners.

XTB, which is headquartered in London and Warsaw, offers excellent service and is commendable in all areas, let it be the trading platform, fees, deposit and withdrawal methods, educational resources, or customer support.

XTB provides trading services with forex and CFDs of indices, stocks, commodities, ETFs, and cryptocurrencies. It is also a well-regulated broker, holding licenses in reputed global jurisdictions.

The broker has excellent customer support, who can be easily reached via multiple modes. The educational resources on the brokers are very helpful and easy to understand, which is very crucial for a beginner-friendly forex broker.

Best Forex Trading Platform for Beginners

We have picked Markets.com as the best forex trading platform for beginners.

Markets.com is excellent when it comes to trade forex. The broker offers 67 currency pairs, along with CFDs of indices, stocks, commodities, and cryptocurrencies.

Markets.com offers its services on multiple platforms: industry-standard MT4 and MT5, and proprietary platforms Marketsx and Marketsi. The broker does not have any limitations on trading, meaning both scalping and hedging are allowed.

Best Forex Broker for Beginners (Low Fee)

We have picked Admiral Markets as the best forex brokers for beginners with low fees.

Trading and non-trading fees are crucial factors when it comes to beginner traders, and Estonia-based Admiral Markets excels in this area.

The broker does not have any significant deposit fee (only charges 0.9% on deposit with Neteller and Skrill) and has free withdrawals. It does not have any other non-trading fees, except dormant accounts have to pay a monthly fee of €10. Here you can see other forex no deposit bonus 2022 India brokers.

When it comes to trading, Admiral Markets has tight spreads. According to our tests, the average spread on the EUR/USD pair is only 0.6 pips, much lower than the industry average of 1.6 pips. Its spreads also remain consistently lower than the industry benchmark across all offered markets, which include forex, indices, stocks and commodities.

Best Forex Broker for Beginners (Educational Resources)

We have picked XM as the best forex broker for beginners with good educational resources.

When it comes to the educational materials for newbie brokers, XM is probably the best. It offers in-depth guides and informative video series on both trading strategies and markets. All the materials are categorized based on the experience level of the traders.

XM also conducts around 40 webinars every week on various trading-related topics every week. Furthermore, it offers its resources in different languages to cater to its diverse global client base.

The broker offers trading services with forex, indices, stocks, and commodities, and is regulated in several jurisdictions: the UK, Cyprus, Australia, UAE, and Belize.

Best Forex Broker for Beginners (Customer Service)

We have picked Fortrade as the best forex broker for beginners with good customer support.

Good customer support is not only essential for beginner traders but also experts. And Fortraded aces in offering excellent customer support.

Traders can reach customer support executives via live chat, email, and phone. The broker also assigns an account service manager to each of its clients. Our tests of the broker find that the answers provided by the broker on any customer query were accurate and direct. The responses of the service manager were even better and helpful.

Fortrade is a global broker and is regulated in the UK, Cyprus, Belarus, Australia, and Canada, offing trading services with forex, indices, stocks, commodities, and cryptocurrencies.

Forex Trading Platform List

Apart from the shortlisted brokers, here is a complete list of forex brokers and trading platforms for beginners, which we have tested and reviewed.

Forex BrokerTest DetailsBroker Review
FxPro
Deposit Amount: Over €5,000
Total Trade: 15 trades
FxPro Review
Admiral MarketsDeposit Amount: Over €4,500
Total Trade: 12 trades
Admiral Markets Review
BlackBull MarketsDeposit Amount: Over €4,000
Total Trade: 12 trades
BlackBull Markets Review
GO MarketsDeposit Amount: Over €4,500
Total Trade: 12 trades
Go Markets Review
ActivTradesDeposit Amount: Over €5,000
Total Trade: 12 trades
ActivTrades Review
XMDeposit Amount: Over €5,000
Total Trade: 12 trades
XM Review
FXTMDeposit Amount: Over €6,000
Total Trade: 12 trades
FXTM Review
ICM CapitalDeposit Amount: Over €5,000
Total Trade: 12 trades
ICM Capital Review
TickmillDeposit Amount: Over $8,000
Total Trade: 12 trades
Tickmill Review
Capital.comDeposit Amount: Over €3,500
Total Trade: 15 trades
Capital.com Review
XTBDeposit Amount: Over €5,000
Total Trade: 12 trades
XTB Review
RoboMarkets (RoboForex)Deposit Amount: Over €5,000
Total Trade: 12 trades
RoboMarkets (RoboForex) Review
PepperstoneDeposit Amount: Over €6,000
Total Trade: 12 trades
Pepperstone Review
FBSDeposit Amount: Over €5,000
Total Trade: 12 trades
FBS Review
GKFXDeposit Amount: Over €5,000
Total Trade: 15 trades
GKFX Review
DarwinexDeposit Amount: Over €5,000
Total Trade: 12 trades
Darwinex Review
IC MarketsDeposit Amount: Over €5,000
Total Trade: 12 trades
IC Markets Review
ThinkMarketsDeposit Amount: Over €5,000
Total Trade: 15 trades
ThinkMarkets Review
FP MarketsDeposit Amount: Over €6,000
Total Trade: 12 trades
FP Markets Review
Amana CapitalDeposit Amount: Over €5,000
Total Trade: 12 trades
Amana Capital Review
AvaTradeDeposit Amount: Over €4,000
Total Trade: 21 trades
AvaTrade Review
CMC MarketsDeposit Amount: Over €5,000
Total Trade: 12 trades
CMC Markets Review
Vantage FXDeposit Amount: Over €5,000
Total Trade: 15 trades
Vantage FX Review
INFINOXDeposit Amount: Over €4,000
Total Trade: 9 trades
INFINOX Review
Axi (AxiTrader)Deposit Amount: Over €6,000
Total Trade: 12 trades
Axi (AxiTrader) Review
Plus500Deposit Amount: Over €6,000
Total Trade: 18 trades
Plus500 Review
eToroDeposit Amount: Over $6,000
Total Trade: 18 trades
eToro Review
Trading 212Deposit Amount: Over €5,500
Total Trade: 15 trades
Trading 212 Review
FortradeDeposit Amount: Over €5,000
Total Trade: 12 trades
Fortrade Review

FAQ and More on Forex Trading Brokers for Beginners

Traders usually have many questions related to generic trading-related queries. We tried to pick and answer some of the most important queries related to forex brokers and trading platforms for beginners.

Top Beginner Forex Brokers in the UK

Demand for retail forex trading has jumped in recent years, and this prompted many beginners to jump into the trading markets. Some of the top FCA-regulated forex brokers and Forex Trading Platforms UK suitable for beginner traders are:

  • IG Markets
  • CMC Markets
  • XM

Top Beginner Forex Brokers in the US

Forex brokers in the US must be registered with the Commodity Futures Trading Commission (CFTC) and be a member of the National Futures Association (NFA). Some of the US-regulated forex brokers for beginners traders are:

  • Forex.com
  • TD Ameritrade
  • IG (US)

MT4 Beginner Forex Brokers

As MT4 is the most popular platform to trade forex, many beginner traders being their trading journey with this trading platform. Though the platform is a bit outdated and made for professionals, brokers are customizing it to offer services to beginners. Some of the good forex brokers for beginners with MT4 for beginners are:

  • XM
  • CMC Markets
  • AvaTrade

Is Forex Trading Good for Beginners?

Trading forex is risky, especially when it comes to margin trading. But there is no restriction on the beginners on starting forex trading. We highly recommend beginners traders learn about the market and trading strategies and then implement those using demo accounts, before jumping into forex trading with a real account. Some of the forex brokers for beginners offering demo accounts are:

  • IC Markets
  • CMC Markets
  • ThinkMarkets