The Best Forex Auto Trading Software: Our Top Picks for 2021

Forex trading is a high-stakes game, with traders looking for every possible edge to stay ahead of the competition. One tool that can help traders achieve their goals is the right forex auto trading software. In this review, we'll take a look at some of the best forex auto trading software options available in 2021, evaluating performance, ease of use, customization options, integration, cost, and more.

What is Forex Auto Trading Software?

First, it's important to define what we mean by forex auto trading software. This type of software is built to automatically execute trades in the forex market, based on pre-defined parameters and algorithms. Some forex traders prefer this approach because it removes emotion and second-guessing from the trading process, allowing them to focus on other aspects of their portfolio. However, there are pros and cons to this approach, and it's important to carefully evaluate your options before selecting a forex auto trading software.

How We Evaluated the Best Forex Auto Trading Software

To evaluate the best forex auto trading software, we considered several key factors:

Based on these criteria, we evaluated several leading providers of forex auto trading software. Here are our top picks:

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Top Forex Auto Trading Software Options in 2021

1. MetaTrader 4

Performance: 10/10

Ease of Use: 8/10

Customization Options: 9/10

Integration: 8/10

Cost: 7/10

MetaTrader 4 (MT4) is a popular forex trading platform that includes built-in forex auto trading capabilities. The platform is known for its powerful analytics tools, wide range of trading instruments and indicators, and user-friendly interface.

One of the benefits of MT4's auto trading capabilities is its compatibility with Expert Advisors (EAs), which are custom programs that can be used to generate trading signals and automate trades. Traders can use pre-made EAs available in the MetaTrader marketplace or write their own, giving them significant flexibility in creating their algorithmic strategies.

MT4's platform is also lightweight and easy to install on desktop or mobile devices. However, for true automated trading, traders may need to use a third-party provider to create custom EAs or to utilize algorithmic trading strategies.

2. CTrader

Performance: 9/10

Ease of Use: 7/10

Customization Options: 9/10

Integration: 9/10

Cost: 7.5/10

cTrader by Spotware offers forex auto trading, charting, and other trading tools. One notable feature of cTrader is its use of cloud computing technology, allowing it to perform fast, accurate backtesting and real-time data analysis. This can be an advantage for algorithmic traders looking for reliable data and analysis to guide their strategies.

Additionally, cTrader's platform is known for its user-friendly interface, which supports multiple languages and charting features. However, for traders looking to execute automated trades, they may need to find and customize their own EAs, or use third-party services.

Finally, cTrader is well-suited for traders who value customization, offering a range of customization options, including custom indicators and the flexibility to add custom strategies via cTrader's built-in scripting language.

3. Pro Signal Robot

Performance: 9/10

Ease of Use: 9/10

Customization Options: 8/10

Integration: 7/10

Cost: 8/10

Pro Signal Robot is a third-party service that provides automated forex signals and trading, rather than a standalone software option. This service provides trading signals in real-time, generated by a combination of technical indicators and artificial intelligence (AI) algorithms. These signals can be used to execute automated trades on a trader's platform of choice, such as MT4, MT5, and cTrader.

One advantage of Pro Signal Robot is its user-friendly interface and straightforward pricing options. In addition, traders can customize some of the parameter settings, such as the types of signals used and the amount traded, in order to better align with their specific trading style and goals.

However, traders should note that Pro Signal Robot is not a complete auto trading solution. Instead, it serves as a supplement to existing trading tools, such as MT4 or cTrader. Additionally, customization options are limited compared to complete auto trading software options.

4. ZuluTrade

Performance: 8/10

Ease of Use: 9/10

Customization Options: 7/10

Integration: 9/10

Cost: 8/10

ZuluTrade is a social auto trading service that connects traders with other traders' trades, allowing traders to copy trades and execute them automatically. This is a unique feature that allows traders to benefit from the insights and strategies of other experienced traders, without having to put in the time to develop their own.

One of the benefits of ZuluTrade is its user-friendly interface and wide range of customization options. Traders can choose from a variety of pre-built algorithmic strategies, as well as modify parameters to suit their specific needs.

However, it's important to note that ZuluTrade does not provide its own auto trading software - instead, traders need to connect their ZuluTrade account to another platform, such as MT4 or cTrader, in order to execute trades. Additionally, ZuluTrade charges a fee for its service that varies based on the volume of trades executed.

Conclusion

The advent of forex auto trading software has transformed the way many traders approach their strategies and portfolios. While there are pros and cons to this approach, the best forex auto trading software can help traders achieve their goals and stay ahead of the competition.

As with any investment, however, it's important to carefully evaluate your options before making a decision. Consider factors such as performance, ease of use, customization options, integration, and cost, to narrow down the best forex auto trading software options for your trading needs.

Based on our analysis, the top forex auto trading software options in 2021 are MetaTrader 4, CTrader, Pro Signal Robot, and ZuluTrade. Each platform has its own strengths and weaknesses, making it important to evaluate them in the context of your own trading goals and preferences.

Ultimately, by selecting the right forex auto trading software, traders can gain valuable insights and automate some of their trading processes, freeing up time and resources to focus on their overall strategy.