If you are new to automated traders, or “Expert Advisors”, read here first to understand how these systems work. There are a number of methods and several companies that offer automated Forex broker services. In the following article, you’ll find brief reviews of each.
GFT Forex is an automated Forex broker whose DealBook FX 2 software offers the investor both a demo and a live Forex trading tool in the currency market. This Forex trading software offers direct access to some of the tightest spreads, through a stable, standalone Forex trading platform, 24 hours a day.
The DealBook FX 2 software shows live, dealable prices with real time data. It offers free real time world and financial news, Forex charts, more than 65 technical indicators. It gives the investor relevant information so as they can build their own indicators.
GCI Finance Ltd.
GCI Financial Ltd., another automated Forex broker, provides trading software that tracks real time prices in 20 major currencies, live charts, and real time profit and loss account tracking. Demo software is also offered. Market orders are confirmed within seconds at prices clicked on or accepted by the client.
DupliTrade is a trade copying service which has partnerships with leading brokers such as AVA Trade and Pepperstone. The service connects a user’s account to a trader who has an account with one such broker.
DupliTrade clients can link their new copy trading account with their standard retail trading account through trading platforms such at MT4 or MT5. Users can then pick the strategy providers they want to copy and decide on their preferred level of automated trading. Traders can monitor profits and analyse performance in real-time.
ZuluTrade is an online social and copy trading platform. Essentially, it allows traders to copy the trades of experienced traders in the Forex and financial. In addition to this the social element enables traders to leave feedback and share ideas. Today it boasts around one million users and executes a trade volume in excess of $800 billion. This platform can charge the user a commission which varies depending on the broker used. At this time AAAFx is Zulu’s own automated broker and do not charge a commission for the service when it is included in their “all in one” package.
Virtual Private Server (VPS) hosting allows traders to operate their own automated trading or Expert Advisors 24/7. Your broker may, or may not, offer the ability to use automated trading directly through their own servers. Even if not provided directly, traders can use their own VPS to manage their Expert Advisors by remaining online at all time. AxiTrader, for example, doesn’t provide this service in-house but has partnered with VPS hosting providers ForexVPS, MetaTrader VPS, Commercial Network Services (CNS), and BeeksFX.