Automated Forex Trading: A Comprehensive Review

As the world becomes more technologically advanced, the way we do business is changing too. Forex trading is no exception, and as the number of trading platforms and strategies has increased, so has the popularity of automated forex trading. In this comprehensive review, we take a closer look at what automated forex trading is, the benefits it offers, and some of the best automated forex trading systems and software available.

What is Automated Forex Trading?

Automated forex trading, sometimes also referred to as algorithmic trading or black box trading, is the use of a computer program to execute trades automatically. This means that a trader can set specific criteria for the program to follow, such as specific market conditions, and then trust the program to execute trades based on these criteria. The program can be set up to make trades 24/7, making it possible to take advantage of global markets even when you’re not physically present.

The idea behind automated forex trading is simple — by using a computer program to monitor market conditions and execute trades, it is possible to remove some of the emotional bias that can often plague human traders. This can be especially useful when it comes to avoiding impulsive decisions or panicking during periods of market volatility.

The Benefits of Automated Forex Trading

Automated forex trading comes with a range of benefits, making it an increasingly popular choice among traders. Some of the key advantages of automated forex trading include:

Automated forex trading systems can make trades much faster than any human trader ever could. They can be set up to monitor multiple currency pairs simultaneously, and can spot trading opportunities and execute trades in a matter of milliseconds.

One of the main benefits of automated forex trading is the way it can limit the impact of human emotions on trading decisions. The software follows a set of criteria, and will execute trades based on these criteria alone. This can help to remove the temptation to make spontaneous decisions based on emotion, rather than a thoughtful analysis of data.

Automated forex trading has become more accessible than ever, with a range of software and systems available at different price points. This has opened up forex trading to a wider audience, without the need for a deep understanding of technical analysis or trading strategy.

Automated forex trading systems can operate 24/7, which means that they can take advantage of trading opportunities at any time of the day or night. This means that traders can potentially make trades while they sleep, travel, or attend to other commitments.

The Best Automated Forex Trading Systems and Software

If you’re interested in automating your forex trading, there are several software solutions and trading platforms available. The following are some of the most popular and highly-rated options:

MetaTrader 4 is a popular automated forex trading platform that has been in use for many years. It is highly versatile, and can be used by traders of all levels of experience.

Key features of MT4 include:

ProRealTime is another automated forex trading platform that is aimed at more advanced traders. It is particularly popular in Europe, and is known for its advanced charting capabilities and automated trading systems.

Key features of ProRealTime include:

NinjaTrader is an automated forex trading platform that is designed for traders of all levels of experience. It is highly customizable, with a wide range of indicators and trading tools available.

Key features of NinjaTrader include:

FXCM is a popular forex trading platform that offers a range of automated trading systems and software. It is user-friendly and accessible, making it a good choice for traders who are just starting out.

Key features of FXCM include:


Automated forex trading is a growing trend that offers many benefits to traders of all levels of experience. By using computer programs to analyze market conditions and execute trades automatically, traders can potentially make more efficient and profitable trades. Whether you’re a beginner or an experienced trader, there are a range of software solutions and trading platforms available to suit your needs.

If you’re interested in automating your forex trading, it’s important to do your research and choose a reputable and highly-rated platform. Consider factors such as the range of technical indicators and charting options available, as well as the ease of use and accessibility of the platform. With careful consideration and the right software, automated forex trading can offer a range of benefits and help you to achieve your trading goals.