The best automated crypto trading platforms allow you to trade using algorithms such as bots or expert advisors. Trading can be done with a CFD broker or via an exchange. Popular platforms include MetaTrader 4 and captailise.ai
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These brokers have platforms to trade crypto using algos
| Broker | Our Rating | Regulation | Standard EUR/USD Spread |
Standard GBP/USD Spread |
Standard AUD/USD Spread |
Raw EUR/USD Spread |
Raw GBP/USD Spread |
Raw AUD/USD Spread |
Commissions (USD Base) |
MetaTrader 4 | MetaTrader 5 | cTrader | Execution Speed | Minimum Deposit | Currency Pairs | Crypto CFDs | Retail Leverage | Prof. Leverage | Read Full Review |
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Read review ›
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75 |
FCA,ASIC, CySEC,SCB |
1.0 | 1.0 | 1.2 | 0.06 | 0.73 | 0.27 | $3.50 |
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143ms | $100 | 40+ | 250+ | 30:1 | 500:1 |
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Read review ›
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80 |
ASIC,CySEC FSCA,FSA-S,FSC-M |
1.1 | 1.3 | 1.3 | 0.10 | 0.20 | 0.20 | $3.00 |
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225ms | $100 | 70+ | 10+ | 30:1 | 500:1 |
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Read review ›
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70 |
FMA, VFSC ASIC |
1.0 | 1.32 | 1.11 | 0.10 | 0.42 | 0.21 | $3.50 |
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94ms | $100 | 60+ | 12+ | 30:1 | 200:1 |
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Read review ›
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82 | ASIC, VFSA, FSA-S | 0.93 | 1.08 | 0.92 | 0.13 | 0.21 | 0.12 | $2.25 |
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79ms | $0 | 90+ | 10+ | 500:1 | 500:1 |
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The brokerages we reviewed below were chosen specifically for the depth of their cryptocurrency offerings, variety of automation and trading platforms and accessibility across provinces to Canadian traders.
Forex Panel Score
Average Spread
EUR/USD = 0.06
GBP/USD = 0.73
AUD/USD = 0.27
Trading Platforms
MT4, MT5, TradingView, Capitalise.ai
Minimum Deposit
$100
Why We Recommend Eightcap
Eightcap is the top broker for crypto traders because of its wide selection of 90+ coins, including Bitcoin, XRP, and Ethereum, providing you with extensive choices. The broker’s automation tools like Capitalise.ai simplify the creation of automated strategies using AI to generate your strategies for MT4 without coding experience.
These tools integrate with MT4 to enhance your crypto trading. With extensive crypto choices and easy automation, Eightcap has everything crypto traders need.
Pros & Cons
Broker Details
Eigthcap has nearly 100 cryptos to trade
Eightcap separates itself from most other brokers on the list due to the large range of crypto pairs they offer. In addition to crypto, they have a good range of other CFD products and trading platforms.
Eightcap Trading Platforms
The breadth and depth of its platform offerings set Eightcap apart from the competition. In addition to popular standbys Broker For MT4 and MetaTrader5, Eightcap also allows crypto traders with a Standard account to open and close positions using TradingView however note that TradingView does not allow automation. Capitalise.ai is another trading platform option in its own right and is especially suited to automated trading since you can create hundreds of algos with no coding knowledge. Alternatively, crypto enthusiasts have the option to trade via the BK Crypto Crusher platform, which offers crypto traders a unique dashboard complete with advanced trading tools and ideas for crypto trading strategies.
For those seeking to Automated Trading App their trading, Eightcap has the necessary integrations to develop, test and launch social trading, copy trading or algorithmic trading strategy. Capitalise.ai ensures that any trader can design custom automation through its proprietary code editor, while those exploring algorithmic trading have access to The Amazing Trader and its powerful, pre-made trading tools. MetaTrader4 users have the option to track the market with MetaTrader Signals for a social or copy trading approach.
Eightcap Account Types
Eightcap offers Canadian crypto traders the option of two different account types: Standard and Raw. These two types of accounts are more designed for forex traders since traders can choose between a commission and no commission accounts with forex, crypto trading products are spread only products. That said if you wish to use TradingView, you will need to use a Standard Account.
Regardless of which account you use; when it comes to forex both operate on a no-dealing desk model and execute trades at ECN-like speeds. The Standard account variable spread starts at 1.0 pips, while the Raw account offers a tight 0.0 pips when forex trading. Eightcap Standard account users pay no fees or commissions – just the spread. Raw account holders, however, will owe a commission of CAD$7.00 per round-turn trade for every 100K lot.
When it comes to Crypto trading, spreads for Bitcoin start at 12 however due to the highly volatile nature of crypto, average spreads are much higher.
Eightcap Crypto Products
Canadian crypto traders have access to over 86 cryptocurrencies through Eightcap, including Bitcoin (BTC), Cardano, Dogecoin (DOGE) and Solana. Spreads for direct trading start at 12 for Bitcoin – one of the lowest of any broker we reviewed – to 0.45 for Ethereum (ETH). Crypto CFDs are also available.
Forex Panel Score
Average Spread
EUR/USD = 0.1
GBP/USD = 0.42
AUD/USD = 0.21
Trading Platforms
MT4, MT5
Minimum Deposit
$100
Why We Recommend TMGM
While it’s not CIRO-regulated, it accepts Canadian traders, providing higher leverage (1:500 vs. CIRO’s 1:30). This higher leverage is ideal for automated crypto trading as it lowers your margin requirements, enabling you to capitalize on market movements and potentially enhances your ROI.
On top of the leverage, TMGM offers a large range of 12,000 markets, allowing you to switch from crypto to forex, stocks, commodities, or indices. Letting you trade a range of markets, across multiple time zones, with one trading account.
Pros & Cons
Broker Details
TMGM Offers the Highest Leverage with MetaTrader 4 to Automate Trades
TMGM uses the MT4 platform to provide traders access to the markets through their excellent ECN services. The MT4 platform is one of the best options if you want an automated crypto trading platform for its ability to use Expert Advisors to execute your trades or protect your open positions. You also get access to high-leverage and 15+ crypto markets, making TMGM an attractive choice if you want a higher-leverage broker to trade cryptos.
Key Strengths
TMGM Offers an Automated Crypto Trading Platform with High Leverage
In Canada, leverage is capped to 1:50 by the CIRO, meaning you need more funds in your account to meet the higher margin requirements. Unless you want to trade cryptocurrencies with high leverage, then you should choose TMGM as your broker, which is regulated by the VFSC entity that allows Canadian traders to trade with leverage up to 1:20 on crypto markets (they allow up to 1:500 on the forex markets). With a choice of 20 of the most popular cryptocurrencies worldwide and high leverage, TMGM is our top choice for high-leverage crypto trading.
To take advantage of the leverage, you can use the MetaTrader 4 platform to automate your crypto trades. The MT4 platform uses Expert Advisors (EAs), which are programmable robots that can execute your trading strategies by the rules you set them. So if you are an algo trader, then you can easily transition your strategies with the MT4 platform to trade Crypto.
Automating your crypto trading can be helpful because you can take advantage of the fact that crypto markets never close, so your EA can run 24/7 executing your strategies in all timezones, helping you trade in more liquid time zones like the European trading sessions.
What we like about TMGM is that they offer a free VPS service if you deposit at least $3,000 when you open an account. This is helpful for algo traders because the VPS allows you to install your Expert Advisors so you can run them 24/7 without having to have your own computer turned on. You just log into the VPS remotely to monitor your EAs and your trading, and this is the best way to take advantage of the crypto markets 24/7 trading times.
Crypto Products & Spreads
TMGM has 20 cryptocurrency markets available to trade which includes the most popular cryptos like Bitcoin, Ethereum, and XRP. You can trade these markets 24/7, so if you like to trade in your spare time (outside of working hours), then you can take advantage of the crypto markets with TMGM, unlike the forex and stock markets which close for the weekend.
Naturally, Cryptocurrencies are seen as a high-risk asset, so most brokers (including TMGM) have the leverage capped at 1:20.
The broker offers two trading accounts which allow trading crypto, and these are the classic and Edge accounts. These accounts normally offer different pricing structures for the forex markets, yet when it comes to focusing on the crypto markets, both accounts offer the same pricing (spread-only model). So no matter which account you choose, you receive the same benefits, and you’ll only be paying the spread charged (this includes the Edge account, which is normally charged a commission to trade).
TMGM offers competitive spreads from 2.1 pips with no commissions on the crypto markets. You’ll find that popular cryptos such as Bitcoin have a typical spread of 3.1 pips and Ethereum at 4.0 pips.
Unlike crypto trading platforms such as Coinbase and Kraken (and their accounts like Coinbase Pro), TMGM is a regulated broker that offers investor protection and the trading of other financial instruments.
Our Verdict on TMGM
You can access a solid range of cryptocurrencies on TMGM with competitive spreads and high leverage, making crypto trading more accessible for retail traders. Through the MT4 platform and TMGM’s VPS service, the broker offers you a top solution to automate your trades 24/7 if you are an algo trader. With these benefits, TMGM is our best broker for high leverage on MetaTrader 4.
Forex Panel Score
Average Spread
EUR/USD = 0.13
GBP/USD = 0.21
AUD/USD = 0.12
Trading Platforms
MT4, MT5, cTrader
Minimum Deposit
$0
Why We Recommend Fusion Markets
Our tests show Fusion Markets is the most budget-friendly broker out there. In testing, the average RAW account spread was 0.22 pips on EUR/USD, only charging $2.25 per lot commission. That’s a fraction of the $7 per lot other brokers typically charge.
With fees this low, your automated crypto strategies can maximize your potential profit margins. Fusion Markets supports MT4 and MT5 platforms, allowing you to utilize Expert Advisors for automated strategies while reducing costs.
Pros & Cons
Broker Details
Fusion Markets Has MT4 and MT5 for crypto trading
Fusion is primarily a forex broker known for its low commission fees when trading forex. The broker however does offer a good range of cryptos that you can automate your trading using expert advisors through the MetaTrader 4 and 5 platforms.
Fusion Markets Trading Platforms
One way Fusion Markets passes saving on to traders? Foregoing a proprietary trading platform in favour of MetaTrader4 and MetaTrader5. If it’s not broken, as the saying goes, then why fix it?
Crypto traders seeking to automate their trading strategies can use the internal code editor, MetaEditor, included in the MetaTrader4 trading terminal to develop and test their own Expert Advisors using custom technical indicators and scripts. Minimal coding know-how? No problem. Both trading platforms include detailed tutorials to help novices gain familiarity with the MQL5 and MQL4 languages. And because developer Meta Quotes has released the source code, third-party integrations apps and robots to facilitate automated trading abound. Even better, MetaTrader 4 supports integrations designed to automatically hedge positions, allowing traders to outsource risk management.
For those with advanced coding skills, MetaTrader4’s Python package allows for integration with MetaTrader5 for even more powerful technical indicators and trading analytics.
VPS hosting ensures that any expert advisors or bots have high-speed, low-latency access to the market, no matter what time of day.
Fusion Markets Account Types
Canadian crypto traders who opt for Fusion Markets can choose between a Classic and a Zero account. In truth, it won’t matter which trading account you choose unless you wish to trade forex where commission costs may apply. Both account types operate on a no-dealing desk model and execute trades at ECN-like speeds using straight-through processing. The Classic account variable spread starts at 0.8 pips, while the Zero account goes as low as 0.0 pips.
Fusion Markets Classic account holders pay only the spread – no fees or commissions. Zero account holders, however, pay a commission of CAD$6.00 per round-turn trade for every 100K lot.
Fusion Markets does not accept clients from Ontario.
Fusion Markets Crypto Products
Canadian crypto traders will find the broker’s range of crypto offerings compelling, particularly in light of the generous leverage: 5:1 for major cryptocurrencies, including Litecoin, Bitcoin (BTC) and Ethereum (ETH). Fusion Markets also allows the trading of crypto CFDs.
While the range is not as extensive as with Eightcap, they still offer all the most popular cryptos for trading vs USD.
Forex Panel Score
Average Spread
EUR/USD = 0.1 GBP/USD = 0.2 AUD/USD = 0.1
Trading Platforms
MT4, MT5
Minimum Deposit
$100
Why We Recommend FP Markets
We like FP Markets because they impressed in our tests, achieving zero-pip spreads 97.83% of the time, saving you money on the spread. This is why we recommend FP Markets for scalpers, as not paying a spread allows you to squeeze out more profit from your trades.
The broker has a wide range of trading platforms (such as MetaTrader 4 and cTrader) that allow you to automate your trades. You also have a decent selection of cryptocurrencies from Bitcoin to Solana to scalp on too.
Pros & Cons
Automated crypto trading involves using a tool or robot to execute trades in real-time automatically based on your trading strategy. Some examples of tools that can automate trading are Expert Advisors for MT4 and cBots for cTrader.
Both allow you to program them with your rules quickly, and they’ll find and trade the markets without any interaction from you.
What we like about automated crypto trading is that these tools allow you to trade multiple crypto markets at once, which gives you more opportunities to find trades and potentially profit from them.
If you want to make sure it keeps going 24/7 without any hiccups, you can use a Virtual Private Server (VPS) offered by some brokers. This allows your trading robot to keep working constantly, even if your computer is off.
Even experienced traders are using some of the best crypto trading bots outlined above for their automated trading strategies. The more advanced cryptocurrency trading bots know how to analyze trading volumes and do simple technical analysis and you can set when to take profit and offer a good alternative to manual trading. The bots operate on crypto signals and machine learning processes where they make automatic trades on their trading bot platform that you’ve chosen and look at price movements and historical data.
Automated trading bots work based on the rules you program them with, and they allow you to code them with anything – from technical indicator-based rules to fundamental news announcements.
Not only do you code the strategy’s entry and closing rules, but you can also include advanced rules like risk management. Allowing you to automate your stop losses and even trail the markets to lock in profits the longer you are accurate.
When your automated trading bot is tested and ready to go live, you simply add the file to the trading platform to activate it. It will then be active, and start searching the markets for trades that match your criteria.
At the heart of many automated trading bots is their ability to integrate technical indicators such as the Moving Average Convergence Divergence (MACD). By analyzing market trends and signals, these bots empower traders to make data-driven decisions, enhancing their chances of success in the volatile crypto landscape.
With the proliferation of mobile technology, automated trading bots now offer dedicated Android apps and mobile-friendly interfaces. This enables traders to stay connected to the markets at all times, managing their trades and monitoring price movements on the go with ease and convenience.
Central to the functionality of automated trading bots is the smart trading terminal, which serves as a command centre for traders. Through this terminal, users can access a range of trading features and tools, execute trades across major exchanges, and manage their exchange accounts efficiently from a single interface.
Market-making strategies are another key component of automated trading bots, enabling traders to provide liquidity to the market and capitalize on price spreads. By leveraging market-making techniques, these bots help maintain efficient market operations while generating profits for traders.
Some automated trading bots also offer grid trading functionality, allowing traders to automate the execution of grid trading strategies. This involves placing buy and sell orders at predetermined price levels, aiming to profit from market volatility and price fluctuations.
These bots often support futures trading on major exchanges, providing traders with opportunities to diversify their portfolios and hedge against market risks. Through seamless integration with exchange accounts via API keys, traders can manage their positions and execute trades with ease.
Additionally, features such as trailing stops and preset trading parameters enable users to automate risk management and execute trades according to predefined criteria. This helps minimize losses and maximize profits in dynamic market conditions.
Whether traders are looking to test their strategies with paper trading, explore advanced trading features, or simply manage their portfolios on the go, automated crypto trading bots offer a range of solutions to suit their needs. With options like free plans and comprehensive API support, these bots make an interesting addition to any trading software or mobile app.
The kind of automated trading bot you’ll need will depend on your risk and trading style, as thousands of trading bots with different strategies across multiple markets are available.
Some bots will scan the markets all day to trade the volatility in the crypto markets, making frequent trades aiming to take small profits. These are scalping strategies and are one of the most requested types; however, they are aggressive in nature and not for everyone.
Alternatively, some bots look for market reversals, aiming to make less frequent trades but with larger profit potential. These are swing or reversal bots, which can run on multiple markets and timeframes and may increase the frequency of trades.
Once you’ve chosen an automated trading bot, you’ll need a decent crypto trading platform, such as Eightcap and FP Markets, to run it.
Some of the crypto trading bots that we reviewed but did not include are 3commas, kucoin, haasonline, coinrule, huobi and cryptohopper because we wanted to provide you with the 4 safest and best cryptocurrency trading bots that we tested.
There are two ways to purchase cryptocurrencies: via an exchange or by using a crypto broker trading platform. Below, we look at the differences.
Cryptocurrency exchanges are online marketplaces where you can buy, sell, or exchange cryptocurrencies for other digital currencies or traditional currencies like US dollars or euros.
With exchanges, you transfer your money for another type of coin without speculating on the price rise, just like you would convert Canadian dollars into euros if you visited Europe.
These exchanges also provide custodian services and a wallet to store your cryptocurrencies securely.
Cryptocurrency trading platforms are essentially forex brokers that allow you to trade crypto markets through financial derivatives like futures, contracts for difference (CFDs), and options. You don’t own the crypto; instead, you speculate on its price to rise or fall to profit from the differences.
Trading platforms are popular with beginners and people wanting to execute small-volume trading. It is also used for trading cryptos as CFDs. Like exchanges, trading platforms charge fees based on the size and volume of the trades executed.
Crypto trading bots carry risks, often depending on who sets them up. They’re great for removing the emotional part of trading, which can lead to better decision-making.
However, a glitch in the programming might cause unexpected trades, like buying too many pairs at once. So, it’s really important to test your bot carefully to avoid surprises.
When choosing a crypto exchange, we recommend looking at factors such as fee structures, security measures, customer support, functionality/usability, and supported currencies. Additionally, you should look for features such as custodial key storage for storing your digital assets.
That being said, ensure they have impenetrable security and no history of fraud or hacks that would make your digital assets vulnerable. Reputation is everything when choosing a crypto exchange.
The different trading bots would have different trading algorithm and trading software and different ways of analyzing market data in your account. For better portfolio management, we recommend you stick to trading bots that have transparent trading options and trading signals and have a user-friendly interface.
Binance is the best crypto exchange for beginners as it is the largest crypto exchange by volume and offers over 350 cryptocurrency options. They also have a wide range of educational resources available, including videos to help you get up to speed on the terminology.
It offers a wide range of products, has excellent security, and reasonable fees. Additionally, we like that Binance has an insurance fund to protect traders from hackers and thieves.
TradeSanta is our top pick for the best crypto bot because it simplifies the automation process for trading.
It comes packed with detailed educational tools and a thorough FAQ section, making it easy for traders to understand how to use its bots effectively.
Plus, with the Maximum Plan, TradeSanta offers unlimited bots, allowing you to scale your trading strategy as needed.
You can be successful using a trading bot, but you must program it with a successful trading strategy. The bot will take the parameters of your strategy, use them to find trades and execute them automatically.
If you have a solid performance manually trading a strategy, this usually translates into a successful trading bot.
You can trade the cryptocurrencies available on your trading platform, which varies for each broker. The most common cryptocurrencies you can trade are ETH, Bitcoin, XRP, and Litecoin.
The broker with the widest range of crypto markets is Eightcap, which provides over 100+ markets to trade. Plus, they have MetaTrader 4, making it easy for you to set up your trading bot.
Yes, crypto trading bots work and can successfully trade the markets profitably. If you have a successful trading strategy with a solid track record, then the trading bot your program will most likely be successful.
You should always backtest and optimise these strategies, and trading platforms like MetaTrader 4 make this easy by providing tools for automated bot testing with the Strategy Tester module.
Pionex is the top AI trading bot for crypto, using advanced ChatGPT-like technology to tailor your trading strategies with their bot templates.
It offers a choice of 13 different trading bots, including GRID Bots, Spot Futures Arbitrage Bots, Rebalancing Bot, and DCA (Dollar Cost Averaging) Bots.
This variety means you can use AI to build the perfect bot to match your trading style.
It is possible for auto-trading bots to make you rich, as a good bot can increase your chances of making profits. However, depending on the strategy implemented and market conditions, there is no guarantee they’ll make you rich.
To have the best chances of success with automated trading, you should find an auto-trading bot with a solid track record and a risk tolerance that fits yours.
The cost of a crypto bot differs from one provider to the next. Some offer bots by subscription model on a monthly or annual basis while others charge a percentage of the trade value of each individual trade. For example, Pionex charges a 0.05% trading fee on each GRID trading transaction.
Crypto trading in Canada is legal and overseen by the Financial Transactions and Reports Analysis Centre of Canada (FinTRAC) and regulated by the Canadian Securities Administrator (CSA) and the Canadian Investment Regulatory Organization (CIRO). Although each province is different, the framework surrounding crypto regulation is consistent.
The CSA has not introduced specific rules regarding crypto trading, however, they have set out guidelines that offer official interpretations of existing laws.
Disclaimer
Canada’s Investment Industry Regulatory Organization of Canada (IIROC) has approved trading in cryptocurrency and CFDs, as well as automated trading using expert advisors and bots, rules vary from location to location. Before opening a trading account – even a demo account! – with an online brokerage, we recommend verifying whether the broker operates in your province and supports the specific asset class you’re interested in trading.
Resist the temptation to open a trading account with an unlicensed or regulated broker if you can’t find the combination of trading products and features you most want. Crypto trading carries a degree of inherent risk due to high volatility in the markets, but investing via a licensed and regulated broker ensures that you receive certain guaranteed protections.
Be aware that trading directly on cryptocurrency exchanges or trading platforms carries a high degree of risk, both in terms of how you trade and the protections available to safeguard your investment. Trading cryptocurrency via an exchange or an automated platform means that your investment is only as secure as your hard or soft wallet and the blockchain verifying your transactions. In case of loss, you may have no recourse. Regulated brokers, on the other hand, store client funds separately from the broker’s own liquidity, and are required to carry insurance. All forex broker comparisons therefore should short-list regulated brokers only either onshore or offshore.
