Automated trading or algorithmic trading allows you to find more trading opportunities and execute them than is possible with manual trading. We looked at some of the best trading platforms to automate your trades.
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Our September 2023 list of the best automated trading software is:
| 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
9.33 |
SCG, ASIC FCA, CySEC |
1.12 | 1.69 | 1.22 | 0.1 | 0.6 | 0.3 | $3.50 |
|
|
|
77ms | $0 | 62+ | 12+ | 30:1 | 500:1 |
|
|
8.50 |
ASIC, FSA CySEC |
0.62 | 0.83 | 0.77 | 0.02 | 0.23 | 0.17 | $3.50 |
|
|
|
134ms | $0 | 61+ | 18+ | 30:1 | 500:1 |
|
|
9.00 | ASIC, SCB, CySEC | 1.0 | 1.0 | 1.2 | 0.06 | 0.73 | 0.27 | $3.50 |
|
|
|
143ms |
$250 (Raw) $500 (Standard) |
40+ | 250+ | 500:1 | 500:1 |
|
|
8.50 |
ASIC, CYSEC FSC, FSA |
1.0 | 1.3 | 1 | 0.2 | 0.5 | 0.2 | $3.50 |
|
|
|
144ms | $0 | 49+ | 14+ | 30:1 | 500:1 |
|
|
6.67 |
ASIC, FCA, BaFin FINMA, NFA/CFTC, MAS CySEC, DFSA, FMA JFSA, BMA, FSCA |
1.13 | 1.66 | 1.01 | 0.16 | 0.59 | 0.29 | $6.00 |
|
|
|
174ms | $450 | 100+ | 12+ | 30:1 | 200:1 |
|
|
7.17 |
ASIC, CySEC, MFSA FCA, FSA, FINRA GFSC |
1.0 | 2.0 | 1.0 | - | - | - | - |
|
|
|
130ms | $200 (Australia), $50-$100 (EU) | 49+ | 46+ | 30:1 | 400:1 |
|
The following list reviews the best automated trading platforms in Australia and the brokers that offer them. Each platform has a unique advantage for algorithmic trading and each broker specialises in one trading platform that stands apart from the rest of the field. We have also factored in other trading considerations such as fees and product range.
MetaTrader 4 Is the Best Automated Trading Platform
MetaTrader 4 is somewhat unique in that it is one of the few trading platforms with features to suit all traders. The platform has 38 technical indicators and 46 analytical objects available to you to help you with your analytics. Social trading is also possible with Signals but of most relevance, automated trading is also possible via Expert Advisors or by integrated with 3rd part apps like Capitalise.ai.
MT4 is the most popular forex trading platform for automation with:
There is a mobile app available, desktop and web versions giving traders greater flexibility where they trade.
Forex Trading With MT4
As an entirely free solution, MetaTrader 4 boasts the largest community of traders of any platform, so it is no surprise the platform has one of the largest marketplaces for automation, which MetaQuotes calls Expert Advisors (EAs). MT4 also boasts a wealth of tools, including 38 prebuilt technical indicators (and hundreds of custom indicators), 46 drawing tools, 9 timeframes, 4 types of pending orders, advanced charting, and backtesting (called strategy tester) to improve your trading performance, regardless of your experience level.
MT4’s Expert Advisors
As more and more retail investors adopt technical strategies for trading CFDs and forex, MetaTrader 4 has taken the lead when it comes to developing and implementing machine learning solutions, also known as “trading robots” and “expert advisors” to support algorithmic trading. By continually monitoring the market on your behalf MetaTrader 4’s EAs and other trading robots simplify the trading experience by eliminating the need to identify opportunities and execute trades yourself. Once you’ve set your predetermined trading rules and parameters, EAs take over, alerting you when market conditions are met.
MetaTrader 4 enables traders to implement algorithmic trading strategies in two ways: you can either develop and code your own trading robots using the platform’s proprietary programming language, MQL4, or download EAs designed by others via the MetaTrader Marketplace.
MetaTrader Marketplace
Due to MT4 being one of the most popular platforms worldwide, the MetaTrader Marketplace is one of the largest online marketplaces for trading robots and technical indicators. If you are a beginner trader and find the idea of writing your own EAs daunting, you can download over 2,100 technical indicators and 1,700 trading robots, many of which carry no fees.
Backtesting Expert Advisers
Once you’ve developed your algorithmic trading strategy, MetaTrader 4’s backtesting feature allows for extensive testing and optimisation based on historical market data, Note, however, that the feature permits backtesting of only one currency at a time and can be used only for 32-bit EAs.
The #1 MetaTrader 4 Broker
Pepperstone is the Best MetaTrader 4 Broker
We awarded Pepperstone the top spot based on an overall score of 90/100. The broker earned particularly high marks:
Pepperstone Accounts Offer Tight Spreads and Fast Execution
Choosing Pepperstone means ultra-competitive spreads, whether you opt for a commission-free Standard account or an ECN-style Razor account with commissions of AUD$7.00 round trip. Standard account spreads start from 1.0 pips, while the Razor account starts as low as 0.0 pips for major currency pairs.
Earlier this year, I asked Ross Collins, our Chief Technology Researcher, to develop a test to calculate the actual average spreads available with RAW accounts offered by top brokers. You can read more about his methodology and view the full results here.
While Pepperstone didn’t top the list, we found the broker’s spreads competitive when compared to others of similar size and liquidity – 0.41 pips. In practical terms, that means you need the market to rise by 0.41 pips before you make a profit.
We were more impressed, however, with the overall stability of Pepperstone’s spreads. Spikes are inevitable, particularly during periods of high activity, but too many steep increases too often make it unnecessarily difficult to plan your trading strategy or generate revenue.
To find the average spread spike, we averaged the highest spikes for each tested broker across six major currency pairs. 4.97 pips might sound like a big jump, but compare that to our worst-performing broker’s 9.14 spikes. Indeed, Pepperstone topped the charts for stability, which translated into easier automated trading.
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ECN Broker Spreads
|
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|---|---|---|---|---|---|
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0.47 | 0.50 | 0.12 | 0.40 | 0.22 |
|
0.50 | 0.60 | 0.30 | 0.50 | 0.50 |
|
0.30 | N/A | 0.30 | 0.50 | 0.40 |
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0.20 | 0.83 | 0.44 | 0.40 | 0.42 |
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0.24 | N/A | 0.17 | 0.54 | 0.30 |
|
0.30 | 0.70 | 0.20 | 0.50 | 0.40 |
|
0.30 | 1.10 | 0.10 | 0.60 | 0.50 |
|
n/a | 0.30 | n/a | 0.60 | 0.50 |
|
0.77 | 1.41 | 0.44 | 1.13 | 1.23 |
Avg. spreads are taken from each broker's website and updated monthly. Last update on 01/09/2023
If you are an ‘active trader’, such as someone that prefers scalping and day traders, you may find our in-house developed spreads and commission calculator below especially helpful in visualising the difference in trading costs with Pepperstone versus other online brokers.
Pepperstone also stood out when it came to execution speeds. The broker ranked third overall across all order types, but turned in a particularly impressive performance when we tested limit orders. At 0.77 ms, only BlackBull Markets was faster. Minimal slippage risk combined with stable spreads? We like the sound of that.
Forex and CFD Trading with Pepperstone
Choosing Pepperstone as your online broker also means you get access to an excellent range of financial instruments to trade, including:
If you’re using automation to trade, the broad range of products opens even more opportunities. Unlike humans, robots never sleep and have endless patience to scan thousands of markets.
Our Verdict : Pepperstone and MetaTrader 4 Are a Win-Win Combination
Due to the tight spreads of the Pepperstone Raw Account, comprehensive regulatory protection across major financial markets and a wide range of available trading products, Pepperstone has our vote for the best online broker for retail traders using MetaTrader 4 to trade with automation.
Pepperstone ReviewVisit Pepperstone
MetaTrader 5 Offers More Tools for Algorithmic Trading
MetaTrader 5, like its sister platform MT4 also made by MetaQuotes, has features for all types of traders but has even more features. This includes unlimited charts with 21 timeframes and 80 built-in technical indicators.
MT5 is the most popular CFD trading platform with features including:
It should be noted that MetaQuotes released MetaTrader 5 (MT5) specifically to accommodate algorithmic trading for markets beyond currencies. Its growth in market share over the past two years highlights how traders are choosing the platform over the older MT4 software. The platform has a trading app, desktop, and web version that doesn’t require a download.
MT5 is a Step Up From MT4
Given MT5 is the successor to MT4, it is no surprise to find its features are more advanced. MT5 comes with Depth of Market (DoM) so one can see the trades on the exchange and an economic calendar which MT4 is only possible with the addition of a plugin. More important there is a jump in the chart and analytical tools available including 21 timeframes, unlimited charts of which 100 can be displayed simultaneously, 80 built-in technical indicators and 40 analytical objects.
MT5 Expert Advisors
Similar to its predecessor, MT5 offers full automation capabilities in the form of Expert Advisors (EAs), but with some significant improvements. EAs developed for MT5 are written in the MQL5 programming language. Based on C++ and object-oriented, MQL5 offers greater flexibility and enhanced execution speed, as well as a larger selection of indicators.
Unfortunately, because MQL4 and MQL5 differ significantly in terms of syntax, EAs developed using either language run only on the associated platform. Read: your amazing trading robot built with MQL4 will run just fine on MetaTrader 4 – not so much on MetaTrader 5.
Backtesting Expert Advisors
MetaTrader 5 Strategy Tester also offers more robust backtesting options. Whereas MT4 can only support backtesting for 32-bit memory and single currencies, MT5 offers multithreaded, multi-currency capabilities and can handle EAs up to 64-bit. This allows for faster and more efficient algorithmic trading on MT5 when compared to MT4.
The Best MT5 Broker
IC Markets Offers the Best MT5 Trading Experience
Australian traders looking for MetaTrader 5 should choose IC Markets based on their:
IC Markets Has the Lowest Trading Costs for Standard Accounts – 1.03 pips
In addition to calculating average spreads for commission-only accounts, Ross performed a similar exercise to identify the brokers with the tightest spreads for their Standard, commission-free account types. At 1.03 pips, IC Markets took the top spot. That’s comparable to the average spreads we found for RAW accounts.
What does this mean for you? If you’re a new trader – or someone who doesn’t have the bandwidth for the sometimes complex cost calculations that come with RAW accounts – you’re in good hands with IC Markets.
Remember, the spread represents the minimum amount of market movement you need for your position to turn a profit. You can measure it in pips or in dollars. For example, let’s say you decide to open a one-lot position with IC Markets. As long as the market rises by USD 9.63, you’re in the money.
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IC Markets 2023 Spreads
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|---|---|---|---|---|---|
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0.27 | 0.14 | 0.23 | 0.17 | 0.02 |
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0.40 | 0.20 | 0.50 | 0.20 | 0.20 |
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0.40 | 0.20 | 0.85 | 0.42 | 0.44 |
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0.54 | 0.24 | 0.59 | 0.30 | 0.17 |
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0.50 | 0.30 | 0.60 | 0.40 | 0.20 |
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0.60 | 0.30 | 0.60 | 0.50 | 0.10 |
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0.60 | n/a | 0.20 | 0.50 | n/a |
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1.13 | 0.77 | 1.08 | 1.23 | 0.44 |
Avg. spreads are taken from each broker's website and updated monthly. Last update on 01/09/2023
Active traders, particularly scalpers and day traders, may find the spread and commission calculator below especially helpful in visualising the difference in trading costs with Pepperstone versus other online brokers. Mt5 traders can select from forex, indices, cryptocurrencies, such as bitcoin, and shares.
IC Markets Earns Top Marks for Range of Markets – 85/100
Traders who opt for MetaTrader 5 tend to do so in order to expand their portfolios beyond forex and CFDs. With over 16,000 stocks, 11 treasuries and 25 indices, IC Markets offers plenty of opportunities to distribute risk and experiment with new asset classes.
We particularly like that IC offers access to some unusual tradeable products, including over 17 soft commodities and 11 treasuries.
Our Verdict On IC Markets For MT5
Australian MT5 traders looking to adopt automation should consider IC Markets based on its tight standard account spreads and impressive range of trading products.
Capitalise.ai Has Great Code-free Automation
If you’re interested in algorithmic trading but not yet ready to go all-in on automations – learning a programming language, setting up trading bots on your preferred platform, exploring trading wizards – then Capitalise.ai may be just the solution for you.
Founded in 2015 by two FinTech entrepreneurs and veteran traders, Capitalise.ai aims to make technical trading accessible to non-coders by offering an extensive library of off-the-shelf automation traders can tweak using freestyle text. Notable features include:
Capitalise.ai Automations
As an entirely no-code automation tool, Capitalise.ai may not have quite the range of options of other platforms with proprietary, open-source programming languages that developers can use to create off-the-shelf automation and bots. However, it does offer a comprehensive suite of tools suitable for newer traders.
Backtesting Capitalise.ai Automations
In addition to a forward-looking live simulator, Capitalise.ai allows traders to assess the success of their automation based on past market conditions. Note, however, that the data provided may be more limited than other trading tools – months, rather than years.
The Best Broker for Capitalise.ai
Eightcap’s Use Of Capitalise.ai Provides Traders With The Benefits Of Automation
Best known for its extensive range of cryptocurrency trading offerings, Australian online broker Eightcap has partnered with Capitalise.ai to empower non-coding account holders to access the benefits of automation. Eightcap remains an excellent choice for MetaTrader devotees, however, the addition of Capitalise.ai to its list of plug-ins ensures that traders of any style can experiment with algorithmic trading.
To use Capitalise.ai you will need to have an MT4 (not MT5) trading account but as a bonus, you can trade all Eightcaps trading instruments including 86 crypto pairs.
We also like Eightcap for its:
Eightcap Accounts Have Tight Spreads
We opted for an ECN-like trading environment with the Raw Account and were impressed that the broker spreads as tight as 0.50 pips for major currency pairs, including USD/EUR, GBP/EUR and USD/AUD. The Standard account, which operates on a dealing-desk model, nevertheless offers similarly competitive average spreads of 1.5 pips.
Our Verdict On Eightcap For Capitalise.ai
Few ASIC-regulated forex brokers offer Capitalise.ai for Australian traders. Eightcap is one of them and the broker has one of the lowest spreads combined with strong Australia-based customer support led to the broker being recommended for the trading software.
cTrader Has Top-Notch Charting Tools
cTrader was released in 2011 by Spotware and caters to retail traders looking for an ECN-like trading experience. The software provides optimal forex trading conditions and includes advanced interactive charting, trade execution, and algorithmic features. cTrader Automate, the platform’s algorithmic trading service, supports a fully-automated trading strategy via proprietary trading robots, known as cBots.
cBots and cTrader Automate
Similar to MetaTrader’s Expert Advisors (EAs), cBots are the platform’s trading robots that allow for full automation. cTrader’s Automate eliminates the need for human control and monitoring by allowing traders of all experience levels to develop or download custom cBots, as well as backtest and refine their capabilities.
Unlike MetaTrader, the cTrader platform uses an open-source programming language: traders develop cBots in the visual studio or inbuilt code editor using C#. Automate API provides market data and trading functions to help you save time and effort when creating automated trading strategies.
Backtesting cBots
cTrader Automate offers sophisticated backtesting features, meaning you can easily optimise cBots by testing them against historical data. Visual backtesting is available, as well as the ability to review trade statistics and store your backtesting data.
The Broker Recommended for cTrader
GO Markets Has Great Beginner Supports
While we always suggest that beginner traders learn the fundamentals of technical trading before experimenting with automations and bots, we’re aware that some people start trading due to an interest in computer science and AI as much as finance. If you, unlike me, spent years learning how to code and have a working knowledge of C#, then by all means, jump right into the algorithmic trading pool.
When it comes to your broker, however, we think it makes sense to start your trading journey with an institution that caters to newer traders. That means better risk management tools and an extensive library of educational materials and tutorials. We also think new traders benefit from trading with a broker that offers high-touch customer support. Investment Trends gave GO Markets the top prize in this category in 2022.
Compare cTrader BrokersVisit IC Markets
*Your capital is at risk ‘84.67% of retail CFD accounts lose money’
ProRealTime Has Charting and Automation
ProRealTime is a technical analysis and trading platform that provides advanced charting and automated trading tools. The software also includes extensive inbuilt technical analysis tools, such as:
ProOrder Trading Automations
Designed to allow traders to develop complex trading systems and automation with no knowledge of coding, ProRealTime’s automatic trading tool ProOrder brings accessibility to technical trading. Use the inbuilt wizard to define stops, objectives, and conditions, then let the code generator do the rest.
For those with coding experience or a desire to learn, ProRealTime also allows you to write your own automation using the ProBuilder programming language.
ProRealTime has enabled offline algorithmic trading and fast execution speeds help ensure your trades process at the correct price. These are two important features if you intend to pursue a fully automated trading strategy.
ProRealTime Marketplace
Traders can also download pre-built automated trading systems from the ProRealTime Marketplace, although the trading community is significantly smaller than MT4, MT5, or cTrader.
ProRealTime Backtesting
In addition to multiple order types to help mitigate risk, ProRealTime also features a proprietary backtesting system – ProBacktest – to allow you to evaluate strategy performance against real-time market data.
The Top ProRealTime Broker
IG Markets
IG is the largest Australian foreign exchange trading broker by a significant margin, and we enjoy the access to its formidable “hive mind” trading community. Of course, the broker offers top-notch customer service – we scored them 78/100 for their comprehensive help resources – but there’s nothing like receiving real-time input from dedicated traders.
We also appreciate that IG’s size means the broker can offer a more comprehensive range of trading software and tools, including ProRealTime.
eToro’s Copy Trading Tools Enable Automated Mirror Trading
Founded in 2007, the online broker eToro quickly made a name for itself and its proprietary trading platform by emphasising the social aspect of day trading. More than a decade later, eToro boasts one of the largest, most active social-copy trading communities of any brokerage.
eToro isn’t an automation platform per see but you can copy other traders based on a range of criteria which is not dissimilar to algorithmic trading.
On top of extensive social-copy trading features, we like that eToro offers a number of resources tailored to the casual traders who comprise most of its customer base:
eToro also offers proprietary social trading tools – CopyTrader and CopyPortfolios – designed to automate your trading via account mirroring. It also separately offers stock trading for Australian traders.
CopyTrader
CopyTrader, eToro’s social-copy trading, allows you to follow and automatically copy the strategies of other users, known as Popular Investors. Whether you are a beginner or lack the time to trade yourself, the social-copy software provides valuable automation that saves you the time and effort of conducting research and executing individual trades.
Navigating the eToro platform is easy, thanks to a user-friendly design that plays on the game-ification of investing. One of our team likes to call this broker the “Facebook of day-trading” due to its Twitter-style feed and comment wall. (No word yet on the TikTok of day trading.)
We enjoyed playing with the “Search for Popular Investors” tool to find traders to mirror based on risk score, preferred assets, performance and more. When it came to actual trading, even our more sophisticated team members were impressed with the specificity of the platform’s parameters. We were able to set custom limits for any of our trades, including to pause trading activity and adjust funding at any time.
Popular Investor Program
If you’re an experienced trader, eToro offers a unique opportunity to generate additional profit by becoming a Popular Investor. Once you’ve applied and been accepted as a member of eToro’s Popular Investor Program, you’ll get paid a commission when other users copy your trading strategies.
There are four tiers of Popular Investor, each with different requirements and benefits: Cadet, Champion, Elite and Elite Pro. In general, however, the more users who copy your trades and the more you invest in active trading with eToro, the higher your monthly returns.
Investment Portfolios (formerly CopyPortfolios)
Investment Portfolios is a longer-term investment product for those wanting a diversified portfolio that requires no hands-on management and automatically re-balances as needed.
We looked at both portfolio options:
To explore the platform and community, eToro offers a free demo account with a USD$100,000 virtual account balance.
*Your capital is at risk ‘68% of retail CFD accounts lose money’
Based on our testing, Pepperstone is the best MT4 broker for Australians. The Melbourne-based broker offers low spreads and a good selection of CFDs with cryptos and shares, as well as add-on tools to enhance trading conditions.
From our testing, Australians who prefer to trade via MetaTrader 5 are best-served by IC Markets. For more information on how we analysed MT5 broker performance, have a look at our best MT5 forex broker comparison.
Thanks to no dealing desk intervention with low spreads, ultra-fast execution speeds and technical analysis tools, we found GO Markets to be the best ASIC-regulated broker with cTrader. You can compare GO Markets to the other Top cTrader brokers in our comparison.
Australian traders have a range of options when it comes to automated trading platforms and software. If you are new to forex, social or copy trading software provide an easy entry, while experienced traders can develop algorithmic strategies using trading robots. All retail traders are limited to the maximum leverage set by ASIC of 30:1 for major currency pairs.
Below, we review the top automated trading platforms available to Australian traders, with recommendations for the best brokers offering each solution and the most compatible trading styles.
Algorithmic vs Social-Copy Trading Software
Algorithmic Trading
Social Trading
Online Trading Robots
To fully automate your forex and CFD trading, you’ll need to develop trading robots (aka algorithmic trading strategies) to run on a trading platform like MetaTrader 4, MetaTrader 5 or cTrader. In the MetaTrader community, trading robots are referred to as Expert Advisors (EAs), while on cTrader they are cBots.
Algorithmic trading strategies allow you to create programs that automatically monitor financial markets as well as enter and exit trades according to your pre-set parameters. Many experienced traders write their own trading robots, while beginner traders may choose to download and/or purchase pre-designed Expert Advisors.
Social-Copy Trading
Social trading and copy trading are a variety of automation that enables you to follow and copy trading strategies developed by more experienced traders within the forex community. Rather than conducting your own research and executing individual trades, you instead copy the trades of other, potentially more experienced investors. There are different types of account mirroring software, ranging from pure social trading platforms and communities like eToro, to copy trading tools like MetaTrader Signals.
Benefits of Automation:
Trading Forex in Australia
Trading forex in Australia has unique but not insurmountable challenges. While the Australian Securities and Investment Commission (ASIC) provides ample regulatory protection, time differences and geographic remoteness can make following the markets difficult – another reason to explore automated trading strategies.
Below, we explain why forex trading remains a popular retail investment activity in Australia, and how to make the country’s unusual characteristics work for you in the markets.
Why Forex Is So Popular For Australian Investors
Australian traders seeking to capture profits from online trading currencies in foreign exchange currency markets (forex) face the issue that the times of peak currency market activity are out of sync with Australian time zones. Whilst the Forex market trades 24 hours per day for 5-1/2 days per week, there are many hours when price activity is quiet because of a lack of trader participation.
There are four predominant forex sessions throughout one trading day that are each based on the time in a major financial hub. Those sessions and locations are Sydney, Tokyo, London and New York, with each different session overlapping to a certain degree. By far, the most critical session in which to take part is the tail end of the London Market and the beginning of the New York market. The four-hour period when those two sessions overlap is when the vast majority of trading activity, even activity related to the Australian and New Zealand dollars, takes place in terms of currency pair price movements.
For someone living in the Australian Eastern Standard Time (AEST) zone, those prime hours when the London and New York Forex sessions overlap are 11:00 PM to 3 AM. Given that you would prefer to be sleeping during those hours, choosing the best trading platform for Australian traders requires various order types and algorithmic trading functions.
Taking Advantage of Forex Orders Based on AEST
No, you do not have to forego sleep to participate in the forex markets. Rather, you can use special order types to set up your trades in advance, go to bed, get yourself a good night’s sleep, and then have a look in the morning when you get up to see how your online trading strategies panned out.
Strange as it may sound, trading in this fashion is less stressful, because price analysis, trade entries, exits and maximum acceptable risk are outside times of peak price activity, meaning your emotions will not get the better of you. A good trading platform for Australian traders will take the effect of time zones into account and offer tools to compensate for this.
Using “Limit” and “Stop” orders on your forex trading platform, as well as ”Stop-Loss” orders if available, can help you plan and automate your trades. You will be much more objective without watching trades go in your favour or against you, tick by excruciating tick. Likewise, you can determine logical entry and exit points and control your exposure to risk. For new traders, this discovery is often a welcome revelation. For those with some experience, it is a solid reality.
Brokerage Fees When Online Trading
The best trading platform Australia option should also factor in brokerage fees. There are two main brokerage fees:
The spread is more applicable to forex trading with the difference between the buy and sell (bid/ask) price being the compensation to forex brokers facilitating trading. ECN-like forex trading accounts charge a round trip, flat rate commission fee, where you pay a fixed commission per trade, or more often, by the quantity traded. Commissions are more straightforward than spreads to calculate brokerage fees, hence why experienced traders prefer these online trading accounts.
Share Trading Options With These Platforms
For Australian investors searching for an online share trading platform, IG Markets and easyMarkets offer both forex and share trading on their primary trading platforms. Another retail brokerage that offers a forex and share trading hybrid is CMC Markets. Alternatively, many forex brokers, such as Pepperstone, offer CFD share trading on the MetaTrader 5 trading platform.
Ask an Expert
Is automated trading ultimately better than manual trading?
There is no simple answer to that, it depends on the quality of your algorithms but certainly automated trading does have the capability to monitoring more markets than possible manually and does remove emotions from trading.