Top 8 Automated Trading Platform UK List

Our February 2024 best algorithmic trading software UK list 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
98 FCA
CySEC
1.12 1.69 1.22 0.1 0.6 0.3 $3.50 77ms $0 62+ 12+ 30:1 500:1 Visit Site
76 FCA
CySEC
1.0 1.0 1.2 0.06 0.73 0.27 $3.50 143ms $100 40+ 250+ 30:1 500:1 Visit Site
52 FCA
CBI
- - - - 0.08%-0.2% 110ms $0 100+ - 30:1 500:1 Visit Site
43 FCA
CySEC
1.0 2.0 1.0 - - - - 130ms $200 (Australia), $50-$100 (EU) 49+ 46+ 30:1 400:1 Visit Site
70 FCA
BaFin, CySEC
1.3 1.4 1.7 0.30 0.90 0.40 $3.00 150ms $300 42+ 7+ 30:1 500:1 Visit Site
71 FCA
BaFin, CySEC
1.13 1.66 1.01 0.16 0.59 0.29 $6.00 174ms $450 100+ 12+ 30:1 200:1 Visit Site
61 FCA
CySEC
1.32 1.7 1.95 0.32 0.37 0.51 $3.50 151ms $0 69+ 30+ 30:1 200:1 Visit Site
66 FCA
ASIC, MAS
0.70 1.1 2.2 - - - - 95ms $150 84+ 25+ 30:1 500:1 Visit Site
 

What Are The Best UK Automated Trading Platforms?

Our team created a list of the best UK forex brokers to help UK traders choose the best provider. That said, UK traders who primarily implement automated strategies rely more on some factors, including execution speed, spreads, and trading platform features. We revised the list for this subset of traders based on the new weightings.

1. MetaTrader 4 EAs with Pepperstone Best Platform For Automation

MetaTrader 4 EAs with Pepperstone

Forex Panel Score

98

Average Spread

EUR/USD = 0.1
GBP/USD = 0.4
AUD/USD = 0.2

Trading Platforms

MT4, MT5, cTrader, TradingView

Minimum Deposit

$0

Why We Recommend MetaTrader 4 EAs

For MetaTrader 4, we like Pepperstone as the top broker, offering improved MT4 tools and fast execution speeds. We recommend MetaTrader 4 EAs for automated trading because it simplifies your trading experience with excellent automation features.

With MetaTrader 4, you can program Expert Advisors (EAs) to handle your trades autonomously, allowing the EA to trade in multiple markets at once or scan the markets all day.

Pros & Cons

  • Available on most brokers
  • Fast performance
  • Access to thousands of indicators
  • Interface is basic
  • Can’t trade share CFDs
  • No native platform for Mac computers

Broker Details

MetaTrader 4 is the most popular trading platform worldwide because its advanced algorithmic trading tools allow full automation. Trading algorithms (trading robots) are known as Expert Advisors (EAs) on MT4.

Expert Advisors On MT4

Expert Advisors (EAs) can be developed on MT4 to monitor financial markets and enter automatically and exit trades according to your preset parameters. When writing EAs on MT4, you use MetaQuotes Programming Language 4 (MQL4), which is comparable to the C programming language.

MetaTrader Marketplace

While writing custom EAs is ideal for experienced traders, those new to forex trading may find it too complex. As a beginner trader, an excellent place to start using EAs is the MetaTrader Marketplace. Due to MT4’s popularity, the platform boasts a large marketplace where you can download over 1,700 EAs along with 2,100 technical indicators.

Backtesting

After developing EAs, you can test and optimise the algorithm against historical data using the platform’s backtesting tools, Strategy Tester. A downside to MT4’s Strategy Tester is that you can only test a single financial instrument simultaneously. It also uses 32-bit memory and a single server that may not handle intensive programs.

Although the platform’s backtesting features are sufficient for most traders, MetaQuotes’ newer trading platform, MetaTrader 5, provides more sophisticated backtesting tools with multi-asset capabilities.

Benefits Of Expert Advisors

  • Save time as your EA is doing the leg work – no need to constantly monitor markets and place individual trades
  • Trade emotion-free as decisions are based on market data only
  • EAs run calculations and analyse data faster than a human
  • Non-stop trading with EAs monitoring markets 24/7
  • EAs can perform thousands of trades at once and quickly exit positions when the predetermined conditions are met

MT4 Trading Tools

In addition to algorithmic trading, MT4 is many retail trader’s platform of choice thanks to the following:

  • One-click trading along with alerts to stay up to date with real-time market movements
  • Advanced inbuilt charting tools with 9 timeframes, 24 objects, and 30 technical indicators, such as moving averages
  • Risk management tools with four pending order types, such as stop-loss and limit orders
  • Fast order execution speed and an institutional-grade trading environment similar to what professional traders get
  • Access to the largest global CFD and forex trading communities

Please note that MetaQuotes has ceased offering technical or customer support for MT4 users. The software developers also recently announced they would no longer be selling MT4 licences to brokers.
Pepperstone logo

Pepperstone – Best MT4 Broker For Expert Advisors

Pepperstone is one of the most popular forex brokers for those wanting access to MT4 and Expert Advisors. Key features offered by the Australian-based broker include:

  • Excellent trading conditions for EA strategies with an average execution speed of 30ms and no dealing desk interference
  • Scalping and hedgingBest MetaTrader 4 Forex Broker
  • Add-on Smart Trader Tools, including an extra 28 Expert Advisors and technical indicators
  • Over 700 CFD trading instruments, such as forex, indices, and commodities
  • 24/5 customer support via phone, email, and live chat
  • A demo account to practice trading before high-risk live trading
  • Spread betting is available for UK traders
  • Trade global stock exchanges (E.g. ASX, LSE, NYSE, NASDAQ)

Pepperstone’s Forex Spreads

Pepperstone has an excellent track record of ultra-tight spreads and competitive trading conditions. There are two pricing structures to choose from when using MT4, a Razor account and a Standard account type.

Standard Account

The standard account provides access to commission-free forex spreads starting from 1.0 pips. This account type is a great option for beginner traders because you can avoid calculating commission costs as you trade. As shown below, Pepperstone’s commission-free pricing is ultra-tight, with most brokers promoting spreads nearly twice as wide.

Standard Account Spreads
1.10 1.20 1.40 1.40 1.40
1.13 1.01 1.71 1.66 1.12
1.20 0.90 1.50 1.80 1.80
1.20 1.40 1.50 1.60 1.50
1.10 1.20 1.40 1.50 1.20
1.10 1.20 1.30 1.30 1.30
1.20 1.80 1.90 1.90 1.60
1.32 1.95 1.37 1.70 1.40

Avg. spreads are taken from each broker's website and updated monthly. Last update on 02/01/2024

Compare Lowest No Commission Spreads

 

Razor Account

Pepperstone’s most popular account for MT4 is its Razor Account with ECN-like pricing. The broker does not mark up the spreads, which start as low as 0.0 pips. As you are trading institutional-grade spreads, you pay a commission fee of $3.50 per side per 100k traded.

The table below compares Pepperstone’s average spreads to other top brokers offering ECN-style accounts. Few brokers match the Razor Accounts’ tight spreads, with the average spread for the EUR/USD staying close to Pepperstone’s minimum spread of 0.0 pips.

ECN Broker Spreads
0.20 0.30 0.10 0.30 0.20
0.40 0.60 0.10 0.40 0.20
0.20 0.30 0.20 0.40 0.20
0.30 N/A 0.30 0.50 0.40
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
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 02/01/2024

Compare Lowest Spreads

 

Other Ways Automate Trading With Pepperstone

You are not just limited to Expert Advisors for automation with Pepperstone. The broker also offers other platforms where you can utilise algorithmic trading, primarily:

  • cTrader Automate with cTrader
  • Code-free trading with Capitalise.ai
  • Copy trading via Pelican and DupliTrade
  • Scripts with TradingView
  • Trading Signals with MetaTrader
  • API trading

cTrader Automate (formerly cAlgo) is an algorithmic trading platform that integrates with cTrader. It allows you to build automated trading robots and custom indicators in the popular C# language. It uses the highly functional cTrader API and backtesting and optimising trading strategies.

Alternatively, Capitalise.ai is a platform where you can automate your trading code-free (I.E., you don’t need any coding expertise). You can also trade manually with the platform.

Similarly, TradingView lets you use scripts which are trading indicators and strategies built by other traders using TradingView’s Pine Script programming language.

Various social trading tools are also available to automate your trading by mirroring or copying other traders. Software available includes Trading Signals for the MT4 trading platform, Duplitrade if you are outside the UK, and Pelican if you are in the UK.

pepperstone trading platform uk

Lastly, you can utilise Application Programming Interface (API) trading if you already use another trading automation system or have your own customer-built system to connect it to Pepperstone’s trading infrastructure.

To top it up, Pepperstone does not charge inactivity fees.

Pepperstone also offers the best spread betting platform for UK traders.

View Pepperstone ReviewVisit Pepperstone

2. MetaTrader 5 EAs with Eightcap Good Algo Platform CFD Trading

MetaTrader 5 EAs with Eightcap

Forex Panel Score

75

Average Spread

EUR/USD = 0.06
GBP/USD = 0.73
AUD/USD = 0.27

Trading Platforms

MT4, MT5, TradingView

Minimum Deposit

$100

Why We Recommend MetaTrader 5 EAs

Our top pick for the MT5 platform is Eightcap, which offers tight average spreads from 0.06 pips on EUR/USD and a decent range of markets to automate. The MetaTrader 5 platform takes all of the popular features of MT4 and enhances it for even better performance, giving your EAs a speed boost, which is vital for executing trades fast.

In particular, if you want also to automate trading stocks, MetaTrader 5 lets you do this while keeping the same interface and functionality of the MT4 platform.

Pros & Cons

  • Improved software performance
  • Has access to stock CFDs
  • Better range of indicators than MT4
  • Have to upgrade MT4 EAs to work on MT5
  • The marketplace for indicators is less popular than MT4
  • Charting isn’t as advanced as some of its competitors

Broker Details

MetaTrader 5 (MT5) was released by MetaQuotes in 2010 to cater to those wanting to trade a more comprehensive range of financial instruments. A key difference between MT4 and MT5 is market access. Unlike MT4, MT5 offers trading products from centralised and decentralised exchanges. In addition to CFDs derived from forex, indices, and commodities, you can trade physical stocks from global markets with certain brokers.

While MT5 was not necessarily created to replace MT4, the platform offers additional trading tools and upgrades. Among them are extra indicators and drawing tools, more timeframes, and 2 new pending orders. As the below table highlights, MT5 excels in every way compared to MT4.

mt4 vs mt5

MT5 Expert Advisors

Like MT4, MetaTrader 5 offers advanced algorithmic trading via Expert Advisors. Certain features like the programming language and backtesting are improved from its predecessor. Yet, due to MT4’s continuing popularity, the community and marketplace are smaller.

Programming Language: Similar to its predecessor, you can use Expert Advisors to automate trading on MT5. To develop your own EAs, you use the MQL5 programming language based on C++, which many traders consider easier to learn than MQL4. Unfortunately, the languages aren’t interchangeable, meaning if you have an EA written in MQL4, you can’t use it on MT5 (although converters exist online).

Marketplace: Although MetaQuotes has made it easier to access the Marketplace by adding a built-in tab to the platform, the marketplace size is smaller than MT4’s. Yet, with MetaQuotes ceasing customer support or license sales for MT4, MT5’s popularity will continue to grow, and so will the marketplace.

Backtesting: One major upgrade in MT5 is better-quality backtesting tools. MT5 Strategy Tester uses 64-bit memory and 4 servers, allowing for more efficient processing of high volumes of data. MT5 backtesting is also multi-threaded, meaning you can simultaneously test and optimise your EA with multiple currency pairs or instruments.

MT5 Trading Tools

Along with improvements to backtesting and the software’s programming language, MT5 offers the following tools to enhance your CFD and forex trading experience:

  • Depth of market pricing
  • More risk management tools with six pending orders
  • A greater number of charting tools, including 21 timeframes, 44 graphical objects, and 38 technical indicators, including Fibonacci studies
  • Fundamental analysis tools with an inbuilt economic calendar
  • An MQL5 community chat feature is embedded into the platform
  • A multi-asset platform with CFDs such as forex, treasuries, ETFs, and shares, as well as traditional stock trading
  • Technical and customer support provided by MetaQuotes

eightcap logo

Eightcap – Top MT5 Broker With Expert Advisors

Eightcap is a top MT5 broker thanks to ultra-tight spreads, a wide range of CFDs, and good trading conditions for EA strategies.

Major advantages of Eightcap include:

  • Low spreads from 0.0 pips + commission via its Raw spread account type and 1.0 pip via its standard account.best metatrader 5 forex broker award
  • No dealing desk business model and ECN pricing, with fast average order execution speeds.
  • Fee-free funding with a range of deposit and withdrawal methods.
  • Diverse market access on MT5 with CFDs derived from indices, forex, commodities, stocks, and bonds.
  • A free demo account for MetaTrader 5, funded with virtual money to practice in a risk-free trading environment.

Trading Spreads and Commissions

Eightcap has low spreads and competitive commissions via the broker’s Standard and Raw accounts.

Eightcap’s Standard account is for you if you want commission-free trading. With minimum spreads starting at 1 pip, this account is suited for beginners who’d like to track their costs, especially while experimenting with automated trading.

The broker’s Raw account has the lowest costs overall with minimum spreads as low as 0 pips and commissions of GBP 4.50, round turn.

eightcap brief account crypto

Products available with Eightcap are limited, but the broker does offer 400 stocks and 46 Forex pairs and the biggest commodities and indices markets. You’ll need to use MT5 to access the full range of products.

Trading Platforms

Eightcap has several great trading platforms, all capable of algorithmic trading.

There are multiple ways to use automation with both MT4 and MT5, particularly MT5. From trading robots to a built-in strategy tester, MT5 has automation covered. Of particular note, you can use the platform’s programming language, MLQ5, to develop EAs (Expert Advisers) to automate trading processes. You can also implement your own trading strategies.

In addition, Fx Blue Labs, a MetaTrader plugin, allows you to use the market-data app. There is also Figaro to build content and automate common actions using powerful scripting. Another Fx Blue Labs tool for automation is MT Integration Suite, which provides a WebSocket and HTTP API around MT4 and MT5.

Then there is Capitalise.ai, which is covered later, that allows you to automate your trading ‘code-free’.

eightcap trading platform

3. Tradestation with Interactive Brokers Top Automated Trading Software

Tradestation with Interactive Brokers

Forex Panel Score

52

Average Spread

EUR/USD = N/A
GBP/USD = N/A
AUD/USD = N/A

Trading Platforms

IBKR Workstation, IBKR Global Trader, IBKR Mobile

Minimum Deposit

$0

Why We Recommend Tradestation

Interactive Brokers is our top choice as it offers an impressive range of advanced trading tools to help monitor, manage, and execute your trades easily. TradeStation is an excellent tool that makes developing automated trading strategies a breeze.

We like how the platform allows you to create your trading strategy manually by setting your rules, and then TradeStation’s tools take over, automating your strategy following your rules.

Pros & Cons

  • Develop automated strategies with EasyLanguage
  • Advanced trading platform
  • Available on the web, desktop, and mobile app
  • It doesn’t provide access to forex markets
  • The platform can have a long learning curve
  • The monthly fee to use the platform (waived if requirements are met)

Broker Details

TradeStation is an FCA-regulated option for UK traders requiring automated trading systems, especially those wanting an English-like programming language. In partnership with Interactive Brokers, the platform allows for automated CFD trading and traditional futures, options, and stock trading.

To start trading, you can apply for a TradeStation Global account type, a collaboration between TradeStation and Interactive Brokers. With a TradeStation Global account, you open a trading account with Interactive Brokers Universal that provides access to the TradeStation platform and 135 financial markets, including 23 currency pairs. A minimum deposit of $1,000 is required.

Along with the premium TradeStation platform, a TradeStation Global account type gives you access to Interactive Brokers Trader Workstation (TWS), IBKR WebTrader, and the IBKR mobile apps for Android and Apple devices.

Pricing For Forex And CFD Trading

When trading forex CFDs, commission fees are calculated as 0.6 basis points x trade value, with a minimum fee of $2.00 USD (or equivalent).

If you are trading on the stock market for US Share CFDs, you’ll pay USD 0.007 per share, while US 500 Index CFDs commission fees are 0.0075% per trade fee. The brokerage fee for UK and Euro share CFDs is 0.075% per trade fee, 0.015% for Euro 50 Index CFDs, and 0.0075% per trade fee for UK 100 Index CFDs.

Automated Trading Strategies

You use EasyLanguage, TradeStation’s proprietary programing language, to write custom automated trading systems. The programming language uses common English-like statements and is considered user-friendly for those wanting to write custom indicators and trading strategies.

You can design order management, market analysis, and scanning tools using thousands of inbuilt functions, properties, and keywords. As with other algo trading software, you can test and optimise your trading strategies against historical market data using the platform’s backtesting tools.

On top of automated online trading, the TradeStation software provides the following inbuilt trading tools and features:

  • Charting tools: 10 chart types, 150+ indicators, and multiple time frames for advanced technical analysis
  • RadarScreen: An automated scanner that monitors markets in real-time to help you identify trading opportunities. EasyLanguage coding you can customise how RadarScreen tracks markets.
  • The Matrix: Allows for easy one-click trading and advanced order placement
  • Simulated Trading: A demo account where you can practice trading in real-time market conditions but without the risk of losing real money.

To use TradeStation, you’ll need to open an account with Interactive Brokers, which only has one account for retail investors: their IBKR Lite Account.

This account offers a tight spread of 0.1 pips for Forex and a minimum commission of USD $2 per order (USD $4 on both sides), which is competitive. Commission costs, however, can vary based on the trade value and base currency of your account (at 0.6 basis points x trade value), so be mindful when calculating your overall trading costs.

interactive brokers account type uk

A broad and diverse array of products are available with Interactive Brokers, including over 100 Forex pairs, stocks on over 90 global exchanges, and an unsurpassed range of bonds. The broker also offers unique trading alternatives, including complex derivatives such as options and mutual funds, setting Interactive Brokers apart from other brokers.

4. eToro Best Social Trading Platform

eToro

Forex Panel Score

43

Average Spread

EUR/USD = 1
GBP/USD = 2
AUD/USD = 1

Trading Platforms

eToro Trading Platforms

Minimum Deposit

$50

Why We Recommend eToro

We recommend eToro for its social trading features, which are ideal if you want to let other people trade your funds. eToro is unique to this list because of its excellent copy trading platform, where you can choose experienced traders to follow and automatically copy their trades.

This fully automated process eliminates guesswork in trading, making it great for those who want to gain exposure to the markets without the knowledge or experience.

Pros & Cons

  • Excellent platform for copy trading
  • 30,000,000+ traders to copy from
  • No commissions on trades
  • You can only use the CopyTrader platform
  • Is not an ECN/STP broker
  • Has a withdrawal fee

Broker Details

eToro is a broker that hosts one of the world’s largest social-copy trading communities with millions of traders. Through its proprietarybest social trading broker trading platform, the broker offers a range of online trading activities, including copy trading, CFD trading, stock trading, and portfolio investing.

You can trade and copy trade strategies with diverse asset classes on the platform, with 2,000+ stocks, ETFs, indices, commodities and cryptocurrencies.

etoro trading platform web mobile

Please note that if you want to trade cryptocurrencies like Bitcoin and Bitcoin Cash, you must sign up for an eToro subsidiary outside the UK. The Financial Conduct Authority in the UK recently banned retail investor accounts from trading crypto. If your focus is cryptocurrencies, the broker is overseen by various top-tier regulators, and most UK traders can sign up for ASIC (Australia) or CySEC (Europe) branches.

CopyTrader

The platform’s social-copy trading feature, CopyTrader, can be handy whether you are an experienced trader looking to save time or a beginner trader learning the basics. Rather than develop and execute your own trading strategies, you can copy top-performing Popular Investors.

To find Popular Investors to follow and copy, you can filter trading statistics, risk scores, and more to find trading strategies that match your preferred asset classes and objectives.

In addition to copying other traders, you can communicate with other members of the social trading community with an inbuilt newsfeed and the ability to chat with one another and share ideas and knowledge.

SmartPortfolios (formerly CopyPortfolios)

For a longer-term investment option, eToro offers SmartPortfolios, where your portfolio is automatically managed and rebalanced as needed by eToro’s in-house experts. A higher minimum deposit of $5,000 is required to invest in SmartPortfolios.

  • Top Trader Portfolios: A bundle of eToro’s best long-term investors.
  • Market Portfolios: a combination of different CFDs such as forex, shares, ETFs, and commodities.

eToro Trading Tools

In addition to CopyTrader and SmartPortfolios, the software comes with a range of trading tools to supplement automation:

  • Third-party technical analysis powered by ProCharts
  • Fundamental analysis tools have a built-in research tab with real-time financial market news and information
  • One-click trading makes it possible to open a new position with a single click
  • Risk management tools with stop loss, take profit, and trailing stop pending order types
  • A demo account that is loaded with a $100k virtual account balance
  • Multiple platform options with an online trading platform or mobile apps designed for iOS and Android devices

To start trading, eToro only gives you one account option: it’s a Standard account.

This account has industry-average fees for a standard account, including no commissions and a minimum spread of 1 pip for Forex currency pairs. There are no funding costs and a minimum deposit of $50 to open an account with eToro.

An additional Islamic (or swap-free) account is available for those traders who abide by Sharia law. You’ll need $1000 to get started with this account.

etoro account type uk

5. Capitalise.ai with FXCM Top Free Algorithmic Trading Platform

Capitalise.ai with FXCM

Forex Panel Score

72

Average Spread

EUR/USD = 0.3
GBP/USD = 0.9
AUD/USD = 0.4

Trading Platforms

MT4, TradingView, Trading Station

Minimum Deposit

$50

Why We Recommend Capitalise.ai

We think FXCM and Capitalise.ai are excellent choices for automating your trades with FXCM’s competitive spreads and Capitalise.ai’s innovative approach to automated trading, particularly its AI strategy generator. You just tell the AI your rules, and it crafts your strategy, ready to use on MT4.

Plus, we like the ability to backtest your strategy right away. You get immediate insights into how your strategy would have performed in the past, quickly helping you decide if a strategy is worth it.

Pros & Cons

  • Compatible with MetaTrader 4
  • Excellent back-testing software
  • Develop strategies quickly with AI
  • Limited choice of indicators to work with
  • Not all trading products are available
  • Has a learning curve to work the AI

Broker Details

Capitalise.ai is a third-party automated trading software that can be integrated into different platforms. To save you time, Capitalise.ai’s software will monitor the trading environment and market data in real-time 24 hours a day, 7 days a week.

Examples of automated systems you can build include:

  • Automatically entering and exiting positions using different tech-based conditions.
  • Risk management tools that allow you to maximise profits and minimise losses by setting and automating your position exit in advance.
  • Trading market news with the forecast, actual, and previous news indicators.
  • Time-based trading systems and conditions.

The software allows you to achieve code-free automation with custom technical indicators and trading strategies. It opens up automation to beginner traders as it is user-friendly and uses free-style text commands to write trading signals.

To help you create and manage automated trading strategies, Capitalise.ai provides a range of trading tools and features:

  • Backtesting of automated trading systems against historical market data.
  • Simulation of trading signals against real-time market data.
  • A library of trading algorithms and example indicators.
  • Notifications and alerts to keep up to date with open positions and changing asset prices.
  • Mobile trading apps for Android and iOS devices.

fxcm logo
FXCM and Capitalise.ai

To start using Capitalise.ai, you can sign up to FXCM and link the software to MetaTrader 4 or Trading Station. When trading forex and CFDs with the online broker, retail investor accounts gain the benefits of:

  • No commissions forex spreads starting from 1.1 pips (EUR/USD)
  • The option of commission spreads for Active Traders, starting from 0.2 pips (EUR/USD).
  • A free demo account for MetaTrader 4 or Trading Station
  • Licensed and regulated by the UK’s Financial Conduct Authority (FCA).

 

fxcm account and product uk

Other than Capitalise.ai, additional trading platforms available with FXCM include MetaTrader, Trading Station, Ninja Trader, TradingView, and a whole range of specialty trading platforms, all of which have algorithmic capabilities.

MetaTrader4 is suited for forex trading. Trading Station is FXCM’s excellent proprietary platform. Ninja Trader is a tremendous algorithmic (and manual) trading platform, and TradingView is one of the world’s leading charting platforms. Lastly, ZuluTrade is a popular copy trading platform to copy successful trading strategies.

fxcm trading platform uk

6. ProRealTime with IG Group Top Analysis + Auto Trading Platform

ProRealTime with IG Group

Forex Panel Score

71

Average Spread

EUR/USD = 0.16
GBP/USD = 0.59
AUD/USD = 0.29

Trading Platforms

MT4, IG Trading Platform, L2 Dealer

Minimum Deposit

$0

Why We Recommend ProRealTime

Our top pick is IG Group with ProRealTime, as the broker offers a wide range of markets with competitive spreads you can use to utilise ProRealTime’s features.

We like ProRealTime for its combination of detailed charting and automated trading capabilities, but what really impressed us is how ProRealTime simplifies creating a trading strategy through a wizard tool.

The ProBuilder wizard tool guides you step-by-step through developing your strategy using a rule-based approach, making it accessible even if you’re new to trading.

Pros & Cons

  • Great charts with automated tools
  • ProBuilder tool helps you automate strategies
  • Decent backtesting tools
  • Limited broker support
  • Charges fees for market data
  • Charts and tools can be challenging to set up

Broker Details

ProRealTime is a trading software that can be integrated into other platforms and is designed for automation and technical analysis. With the advanced functionality, the trading software is suited to experienced traders requiring a greater range of analysis tools.

  • Over 100 technical indicators and 20 drawing tools.
  • Fundamental analysis tools with real-time financial market news.
  • Risk management features with 8 order types.
  • Offline algorithmic trading thanks to ProRealTime hosting its own server.
  • Fast order execution and the option of a scalping mode.

ProOrder Automation

ProOrder is ProRealTime’s automation and backtesting tool. There are three approaches to adopting automation via ProOrder – you can code your own trading systems, use the software’s code-free Wizard or search the ProRealTime Marketplace online. If you are writing your own algorithms, the ProBuilder programming language is used and comparable to Visual Basic.
ig logo

IG Markets And ProRealTime

IG Markets is a global broker offering ProRealTime that the UK’s FCA regulates, among others. Retail traders can integrate ProRealTime into their IG trading platform and gain access to a professional traders’ work environment. The IG platform enables you to trade the broker’s entire product range with 16,000 financial markets.

As an IG trader, there is no cost for the first month. However, if you don’t make at least four monthly transactions, you will be charged a monthly fee of $40.

IG Market’s Trading Accounts

IG Markets has two account options when you sign up: a CFD or DMA account. The key differences between accounts lie in costs (commissions + spreads) and the range of markets available to trade.

The broker’s CFD account only charges commissions of up to 0.18% for share CFDs, with spreads of 0.6 pips for major forex pairs. This is competitive for similar account types.

However, fees for the DMA account depend on the market you’re trading. FX commissions vary based on your trading volume. The more you trade, the cheaper your commissions are. For share CFDs, commissions are capped at 0.1%, slightly cheaper than the CFD account.

There are funding costs with both accounts of 1% for Visa credit cards (or PayPal) and 0.5% for Mastercard credit cards.

ig account and product uk

As mentioned above, IG Markets has a massive range of tradeable markets, including a whopping 13,000 stocks, 2246 ETFs, 100 Forex pairs and over 80 indices. IG Markets also offers over 13,000 options, which are complex derivatives, as another trading alternative. As a UK trader, spread betting is also available to you.

IG Market’s Trading Platforms

In addition to ProRealTime, IG Markets has several trading platforms, including their own proprietary platform, for web, mobile or tablet, as well as L2 Dealer and MT4.

IG Market’s in-house trading platform is user-friendly, with lots of great features. These include charting (30 technical indicators, 20 drawing tools, and 16 selectable time frames), alerts, sentiment readings and excellent market research.

L2 Dealer is great for shares trading because it gives you DMA (direct market access), while MT4 is the most popular forex trading platform.

ig markets trading platform

7. cTrader with FxPro Good Platform For Algorithmic Trading

cTrader with FxPro

Forex Panel Score

61

Average Spread

EUR/USD = 0.2
GBP/USD = 0.2
AUD/USD = 0.5

Trading Platforms

MT4, MT5, cTrader, FxPro Trading Platform

Minimum Deposit

$100

Why We Recommend cTrader

FXPro is our top choice because of its low average spreads and fast execution speed, which pair nicely with cTrader’s excellent trading platform. We like its sleek interface and algorithmic trading features, which blend the best features of MetaTrader 4 and MetaTrader 5.

With cTrader, you can develop your own automated strategy (cBot) or download pre-built cBots from its marketplace.

cTrader impressed us as they are one of the few platforms to offer a native trading platform for Mac users, improving performance for the cBots on a Mac.

Pros & Cons

  • Excellent user interface
  • Has fast execution times
  • Offers a marketplace to find cBots
  • Not supported by all brokers
  • Programming cBots can be complicated
  • Smaller marketplace for indicators compared to MT4

Broker Details

cTrader is the third-most-popular mainstream trading platform worldwide after MetaTrader 4 and MetaTrader 5. The predominantly forex trading platform is popular among retail investor accounts wanting an ECN environment thanks to the depth of market pricing, advanced charting tools, and ultra-fast execution speeds.

Like MetaQuotes Software, cTrader Automate allows you to develop advanced trading robots (algorithms), known as cBots, rather than Expert Advisors.

cTrader Automate And cBots

To fully automate CFD and forex trading, cBots can be written or downloaded from the cTrader Marketplace online. As cTrader Automate is less popular than Expert Advisors, the online community and marketplace are smaller, with fewer cBots available to download.

If you are writing your own cBots, the C# programming language is used in the visual studio or inbuilt code editor. Once built or downloaded, cBots can be tested and optimised against historical data using the software’s backtesting features or in live conditions via demo accounts.
Pepperstone logo

Pepperstone – Top Broker For cTrader Automate And cBots

For cTrader Automate and cBots, Pepperstone is the best broker overall thanks to Razor account spreads from 0.0 pips + commission, ultra-fast order execution speeds, and a wide range of asset classes and CFDs. To explore cTrader and Pepperstone’s Razor trading account before risking real money, you can sign up for a free demo account with the broker.

8. MetaTrader Signals with CIty Index Copy Trading Software

MetaTrader Signals with CIty Index

Forex Panel Score

66

Average Spread

EUR/USD = 0.07
GBP/USD = 0.011
AUD/USD = 0.8

Trading Platforms

MT4, TradingView, City Index WebTrader

Minimum Deposit

$0

Why We Recommend MetaTrader Signals

We recommend MetaTrader Signals as there’s a wide selection of signal providers to copy, allowing you to choose based on your trading preferences.

We like that you can view and assess the performance of these providers within the platform and that the signals are available on MetaTrader 4 and MT5.

The service allows you to subscribe to signal services and automate the trades based on these signals or receive alerts for manual execution (giving you the final say).

Pros & Cons

  • View signals performance over time
  • Over 3,000+ providers
  • Free or paid signals are available
  • The accuracy of signals depends on the broker’s execution
  • No control over the strategy
  • Paid signals can be expensive

Broker Details

Trading Signals is a MetaQuotes social-copy trading feature available on MetaTrader 4 (MT4) and MetaTrader 5 (MT5). Traders within the MT4 and MT5 communities can create signals that other community members can copy.

On MT4, trading signals are developed in the MQL4 programming language, while MT5 hosts MQL5 signals. There are over 3,200 free and paid trading signals to choose from and duplicate.

While many features are similar across MT4 and MT5 when social-copy trading, a major difference is how you can access Signals. MT5 has an inbuilt Signals tab that lets you easily search for and employ trading signals without leaving the platform. MT4 users are required to find signals online.

Another difference is that MT5’s trading community is not as huge due to the popularity of MT4. Therefore, there are fewer signals available to copy. Yet, the library of MQL5 signals will continue to grow as MetaQuotes slowly phases out support and licenses for MT4.

As MT4 has a large community and a range of Signals to duplicate, Pepperstone is a top broker for MQL4 MetaTrader Signals. If you prefer MQL5 Signals, IC Markets is one of the best brokers with MT5.