Automated forex trading software offers a service exactly as described – traders can buy and sell currency pairs without needing to do any research or place any market orders.

On the contrary, the chosen software program will automate the trading process – meaning that investors can access the forex market passively.

The purpose of this comparison guide is to explore the 6 best forex automated trading software in the market today through comprehensive and impartial reviews.

Best Automated Forex Trading Software in 2024

We concluded that the 6 best automated forex trading software providers are those listed below:

  • MT4 via – Mirror the Buy and Sell Positions of Automated Strategies
  • MT5 via XM – Copy Successful Forex Traders in an Automated Manner
  • Zulutrade via Avatrade – Invest in and Copy a Seasoned FX Trader
  • Forex Fury – Automated Forex Trading Bot for MT4 and MT5
  • Duplitrade via Pepperstone – Popular Automated Forex Social Trading Platform
  • CTrader via Pepperstone – Leading Forex and Algorithmic Trading Platform

Each of the above automated trading forex providers will differ in one way, shape, or form. As a result, in order to select the best automated forex trading software, consider reading our comprehensive provider reviews.

Top Automated Trading Platforms Reviewed

Automated forex traders will need to conduct in-depth research when finding a suitable software provider. Metrics such as how successful the software or trader has been historically in terms of monthly returns, as well as risk and fees, should be considered.

Below, we discuss the 6 best automated forex trading software providers in the market today.

1. MT4 via – Mirror the Buy and Sell Positions of Automated Strategies review One of the most popular ways to automate the forex trading process is via a bot. These are pre-programmed software files that have the capacity to buy and sell forex pairs in an autonomous manner. This means that after the bot is deployed, no further input is required from the investor.

Automated forex trading bots require a third-party platform like MT4 to operate. Furthermore, in order to access live forex markets, MT4 will need to be connected to a regulated MT4 brokerage account. For this purpose, we like Not only does support third-party forex systems via MT4, but lists more than 138 currency markets including some of the most volatile forex pairs such as GBP/NZD and GBP/AUD.

This offers the trading bot plenty of opportunities to enter suitable positions throughout the day. The first step to take is to choose a suitable automated forex strategy to copy via the MT4 marketplace. The best forex auto trading software systems hosted on MT4 come with a fee. Although there are some free forex strategies too, these generally do not perform very well. MT4 forex trading

After choosing an automated bot to copy, the investor can then head over to to open an account. In doing so, the investor can deposit from just $20 on a fee-free basis via a debit/credit card or e-wallet. In terms of trading fees, does not charge any commissions on any of its supported markets.

Moreover, enables retail clients to obtain leverage on their forex positions. In most cases, retail clients will have access to limits of up to 1:30 on major forex pairs. After setting up an account, it’s then just a case of linking to MT4 – which can be achieved in just a few clicks.

Crucially, however, also offers a free demo account that comes with $10,000 in paper trading funds. This means that the investor can deploy their automated forex trading robot in live market conditions but without risking any of their account balance. Only when it appears that the forex bot has what it takes to make consistent gains should it be deployed in ‘real mode’. MT4 forex trading

In addition to forex, it is also possible to trade stocks, ETFs, cryptocurrencies, indices, and commodities. All assets available on are traded as CFD instruments, which means no US-based clients. All in all, – owing to its FCA, CySEC, ASIC, and NBRB regulation offers a safe place to automate the forex trading process.


  • One of the best automated forex trading platforms for MT4
  • 0% commission on all supported markets
  • Best Western Union forex brokers
  • Trade forex, crypto, stocks, ETFs, commodities, and more
  • Get started with an account in minutes from just $20
  • Regulated and authorized by the FCA, CySEC, ASIC, and NBRB


  • CFD-only platform – so US clients are not eligible to trade

Your capital is at risk. 80.61% of retail investor accounts lose money when trading CFDs with this provider.

2. MT5 via XM – Copy Successful Forex Traders in an Automated Manner

XM LogoSimilar to MT4, MT5 is a third-party trading platform that is very popular among forex traders. The platform offers a full suite of high-level trading features – such as technical indicators, chart drawing tools, and customizable charts. Moreover, MT5 supports automated forex trading.

MT5 offers this service through a Copy Trading-style tool. Investors will first need to head over to the MT5, create an account through its partner MQL5, and then choose a trader to mirror. In order to choose a suitable forex trader, investors will need to spend some time researching the many statistics that MT5 provides.

This covers everything from the total balance in US dollars and lifetime ROI to the average duration and maximum leverage limit. In a similar nature to the previously discussed MT4, MT5 offers both free and paid-for forex auto traders that can be copied. Once again, the most successful traders will rightly charge a fee for their service.

XM Forex Broker

And, just like MT4, in order to engage in automated forex trading via MT5, the investor will need to open an account with a suitable broker. One of the best MT5 brokers in the forex space is XM. The broker offers both commission-free spread (Standard) and ECN accounts with low commissions for different trading styles.

Spreads are very competitive too. Traders can buy the EUR/USD trading pair from just 1.0 pips. The minimum account balance to get started is just $5 and XM accepts instant payments via debit/credit cards and e-wallets.

Another benefit of choosing XM for the purpose of automated MT5 forex trading is that the broker offers demo accounts. As noted earlier, this will enable the investor to backtest their chosen trader in a risk-free environment. If and when the investor is confident that the trader is worth copying with real money, they can switch over to a live portfolio.


  • Best MT5 broker for automated forex trading
  • Industry-leading fees and spreads
  • Just $5 is required to open an account
  • Dozens of forex pairs are supported
  • Regulated broker with global footprint


  • Does not offer its own proprietary automated software portal

Your capital is at risk.

3. Zulutrade via Avatrade – Invest in and Copy a Seasoned Currency Trader

zulutrade After creating an account with Zulutrade, investors can browse through the traders that have signed up for the Copy Trading program. Investors can explore metrics surrounding their historical gains, average trade duration, and more. Crucially, however, we should note that Zulutrade offers access to just 13 pairs, which is much lower than other platforms in this space.

When it comes to fees, the Zulutrade profit-sharing model is not only complex but expensive. In its most basic form, commissions will apply for any profitable positions above the High Water Mark (HWM). This represents the peak value of the Copy Trading portfolio for the respective trader.

zulutrade copy trading review

Anything above the HWM will be charged at 25%. Of this figure, 20% and 5% go to the trader and Zulutrade, respectively.  Zulutrade also offers diversified trading portfolios known as Combos. Each Combo will consist of a group of traders that meet certain criteria. As such, the Zulutrade automated forex trading platform offers various ways to trade passively.

Irrespective of which strategy is chosen, Zulutrade is not a brokerage firm. This means that just like MT4 and MT5, Zulutrade needs to be connected to a suitable broker account. AvaTrade is a popular option here, as the platform offers dozens of forex pairs at 0% commission and tight spreads. Plus, AvaTrade is heavily regulated and the minimum deposit amounts to just $100.


  • Automate the forex trading process by mirroring other traders
  • Very user-friendly client interface
  • Offers the best forex VPS in 2024


  • High profit-sharing commissions

4. Forex Fury – Automated Forex Trading Bot for MT4 and MT5

Forex Fury offers an all-in one package for those seeking the best forex automated trading software bot.  This trading bot operates in a fully autonomous manner, so once deployed, it will begin trading on behalf of the investor.

Forex Fury is compatible with a range of third-party platforms, including MT4 and MT5. This forex trading bot might appeal to beginners, as it comes with a step-by-step installation guide. This includes the process of choosing a suitable low, medium, or high-risk strategy. Forex Fury is compatible with any forex pair in addition to crypto assets.

forex furty robot

With that being said, the Forex Fury bot is far from cost-effective. On the contrary, the cheapest plan available will cost $229.99. This does, however, offer a lifetime license to the bot.

In terms of performance, Forex Fury claims that its robot aims for a monthly return of 10-20%. There is, however, no guarantee that the bot will be able to achieve trading results of this magnitude. Also see our full Forex Fury review.


  • Fully automated forex trading bot
  • Offers low, medium, and high-risk trading strategies


  • Cheapest option costs $229.99
  • Forex bots cannot incorporate fundamental analysis

5. Duplitrade via Pepperstone – Automated Forex Social Trading 

duplitrade review Another third-party option to consider when searching for the best forex automated trading software is Duplitrade. In a nutshell, Duplitrade is home to a carefully selected group of experienced forex traders that have been pre-vetted and audited.

After choosing a suitable trading system, all future positions can be mirrored automatically. As a third-party platform, Duplitrade will need to be connected with a regulated broker. Moreover, the minimum investment per Duplitrade strategy is $5,000. As a result, this option won’t be suitable for those on a budget.

Duplitrade review

In total, there are just under a dozen automated trading strategies to choose from at Duplitrade. One of the most popular strategies is Neptune, with more than 4,400 individual followers. This strategy has generated a net profit of 337% since its inception in 2019. Moreover, Neptune places between 200-250 positions per month, which illustrates a day trading strategy.

When it comes to utilizing Duplitrade via a regulated broker, Pepperstone is perhaps worth considering. This popular provider offers commission-free and raw spread accounts across dozens of forex pairs, stocks, indices, and more. Pepperstone is regulated by ASIC and as such, offers a safe and transparent trading environment.


  • 11 strategies to choose from
  • All strategies have been pre-vetted and audited


  • Need to connect Duplitrade with a suitable broker
  • Minimum capital outlay of $5,000

74% of retail investor accounts lose money when trading spread bets and CFDs with this provider.

6. CTrader via Pepperstone – Forex and Algorithmic Community 

The final option to consider from our list of the best forex automated trading software is CTrader. This third-party platform connects to several online brokers and it offers a social trading experience alongside automated indicator signals.

Regarding the former, cTrader enables users to communicate in a social setting, with the view of sharing market insights. cTrader is home to a wide variety of algorithmic indicators that can be copied like-for-like. Each indicator will have its own pre-built strategy that focuses on a particular trend.

cTrader bot

For example, the AlphaTrend Indicator at cTrader seeks to buy currency pairs when it falls below their perceived market value. In addition to this, cTrader also offers automated forex bots that have been created by third parties. The most popular bot in terms of installations is simply entitled Robot_Forex. In a nutshell, this bot focuses on GBP/USD and EUR/USD via the H1 timeframe.

Once again, cTrader needs to be accessed through a broker and Pepperstone is also a great choice here. As noted above, Pepperstone is heavily regulated and it offers access to dozens of forex pairs, including the aforementioned GBP/USD and EUR/USD. Moreover, it takes just five minutes to open an account with Pepperstone before connecting to cTrader.


  • Social trading tools
  • Automated forex bots can be mirrored


  • Bots are created by unverified third parties

74% of retail investor accounts lose money when trading spread bets and CFDs with this provider.

What is Auto Forex Trading?

As the name suggests, forex auto trade strategies enable investors to trade currencies in a completely passive nature. This means that the investor will not need to dedicate countless hours performing technical analysis, or placing buy and sell orders manually. Instead, the chosen automated forex trading software will perform all required duties.

For example, this might come in the form of a forex bot that can be installed into MT4. The bot will scan the forex markets on a 24/7 basis and subsequently enter positions when a trading opportunity has been discovered. This option, while permitting around-the-clock autonomous trading, can be risky.

etoro forex copy trading

This is because forex robots do not have the capacity to extract information outside of a pricing chart. For instance, if a real-world story breaks that hugely impacts the value of GBP, the bot will not be able to take this into account. As a result, Copy Trading platforms are perhaps a suitable alternative to bots.

This will see the investor allocate capital to a proven forex trader. Each and every position that the forex trader enters will subsequently be mirrored in the investor’s portfolio. Ultimately, the overarching objective of auto forex trading is to completely remove the need to have any input in investment-related decisions.

Types of Auto Trading Forex Systems

As discussed throughout this guide, there are many different types of automated forex systems.

Each system will come with its own pros and cons, which we explore in more detail in the following sections.

Copy Trading

Copy Trading, as noted above, is perhaps the best option when searching for an automated forex system.


Application programming interfaces (APIs) enable investors to fully automate the forex trading process through the usage of high-level algorithms.

The API essentially forms a bridge between the algorithm and regulated forex brokerage. APIs are typically utilized by financial institutions that engage in quantitive trading practices.


It is also possible to semi-automate the forex trading process via third-party forex signals. For instance, Learn2Trade has a team of in-house analysts that scan the forex markets on behalf of its members.

Learn2Trade Forex Signals

The analysts will then send a trading signal via the Learn2Trade Telegram group. This will highlight the pair and respective buy/sell position, alongside a stop-loss, entry, and take-profit order.

The member can then head over to their forex broker to place the suggested orders. While signals are not fully-automated, they do remove the need to perform any technical or fundamental analysis.

Trading Bots

Trading bots are becoming more and more popular in the forex space. The reason for this is that they offer a truly automated forex trading process, on a 24/7 basis.

The attraction is that even while you are sleeping, the bot will be scanning the forex market and placing suitable buy and sell orders. The bot is, however, only programmed to follow pre-defined conditions.

This means that forex bots do not have the capacity to make sentient decisions. Instead, the bot can only follow the pre-built conditions it has been instructed to follow.

As a result, traders should not be surprised if they wake up to check in on the bot to find that their entire account balance has been lost.

The best way to avoid such an event is to ensure that stop-loss orders are installed before the bot starts trading in live market conditions.

Is Automated Forex Trading Profitable?

Whether or not automated forex trading is profitable will depend on the underlying system, bot, or trader.

In other words, if the underlying bot goes on a prolonged run of form, then this will result in the trader making money. However, equally, there is every chance that the bot then blows through the entire account balance in one trading day.



This guide has reviewed and ranked the best forex automated trading software in the market.


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