Best Automated Trading Platform

We recommend OANDA as the best overall choice for American forex traders based on its range of trading platforms and selection of 68 currency pairs.

We particularly appreciate OANDA’s extensive MetaTrader 4 offering, which provides excellent support for automated trading with EAs and advanced charting. Or TradingView charts on OANDA Trade.

OANDA has MetaTrader 4 (MT4) Expert Advisors for trading automation

OANDA is one of the largest brokers on our list due to its large international presence. The broker’s offering for clients in the US differs slightly due to regulatory requirements, but the extensive array of MetaTrader 4 add-ons and integrations pushes it to the top spot.

Key Strengths:

• Access to quotes on 70 currency pairs with no dealer intervention
• Multiple trading platforms (OANDA Trade for web and mobile, as well as MT4)
• Powerful technical analysis tools powered by Autochartist
• Integrated economic announcements with the OANDA Trade platform
• Third-party software (MotiveWave and Dow Jones Forex Select)
• Risk management orders and transparent pricing models

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OANDA Trading Accounts and Products

If you’re in the US, OANDA offers a single, straightforward account type. While the broker does make use of a dealing desk, we found that the unique free structure and low commissions left plenty of opportunities for savings, provided you’re prudent. The Spread-Only account roughly parallels other brokers’ Standard Account offerings. Variable spreads start at 0.6 pips, and commission is included in round-turn trades for standard lots.

OANDA also offers an attractive rebate program that rewards high-volume traders. If you meet the minimum deposit requirements and exceed a monthly trade volume of US $10 million, you can choose between cash rebates and commission reductions ranging from US $5.00 and US $15.00 per million dollars traded.

If you already know you intend to narrow-focus your day-trading activity on forex, OANDA will likely meet your needs. The broker limits American traders to the currency markets, but offers a respectable selection of pairs: 10 majors and 58 minors, exotics and crosses. That includes EUR, GBP, USD, JPY, NZD, AUD and CHF – all the major base currencies. While we find that’s more than enough to support even sophisticated strategies, we can understand why traders looking for a more diversified portfolio might balk.

OANDA Automated Trading Platforms

Between its proprietary web and mobile trading platforms and comprehensive suite of MetaTrader 4 integrations and premium tools, OANDA stands out for its support for automated trading. We personally trialled basic and more advanced algorithmic trading strategies and found that OANDA’s platforms provided the tools we needed.

That said, the integrations in question worked smoothing and gave us exactly what we needed. Between MultiCharts, which connected to OANDA Trade via API, and AutoChartist, for example, we had access to more tools and indicators than with other brokers.

Our OANDA Final Verdict

OANDA’s tight spreads, advanced technical analysis tools and extensive selection of trading instruments make it an excellent choice for US forex traders, regardless of experience level.

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We recommend Interactive Brokers for its exceptionally competitive trading costs and professional-grade automated trading platforms. The broker’s API infrastructure allows you to build sophisticated algorithmic systems in Python, C++, Java, or other major programming languages.

With commissions as low as $1 per lot for high-volume traders and spreads from 0.2 pips on EUR/USD, Interactive Brokers provides institutional-grade execution across 105+ currency pairs. While the learning curve is steep, advanced traders will appreciate the comprehensive infrastructure that handles automated strategies without platform crashes during volatile sessions.

Interactive Brokers For Algorithmic Trading

Interactive Brokers is a household name in the global trading community. The company offers access to practically every trading product in the world, with stocks on most global exchanges, futures contracts, options, forex, indices, and many more. Their infrastructure is built specifically for professional traders running automated strategies.

Key Strengths:

• API access with FIX protocol and REST endpoints
• Multi-asset trading across 90+ stock markets, 30+ futures exchanges
• Low trading costs with tiered commission structure
• Deep liquidity from 17 FX dealers

Interactive Brokers Trading Accounts and Products

As a retail trader, you will be signing up for the IBKR lite trading account. This account has no minimum deposit, no inactivity fees, and also commission-free trading for US exchange-listed stocks and ETFs.

When we navigated our way to spot currencies, we found that the commissions you pay are on a tiered program. If you trade more than USD 1 billion in total positions each month, you will pay less in commissions. While this is fine in itself, we found ourselves wishing they had a more simple fixed commission plan.

Commission rates start at 0.2 basis points with a minimum of $2. This means that if you trade $100,000, you’ll pay $2, or if you trade $500,000, you’ll pay $10 per side. We found this quite competitive with most retail brokers, especially when you combine it with IB’s tight spot currency spreads from 0.2 pips on EUR/USD.

The catch is $2 minimum per trade makes this pricing expensive if you’re trading micro-lots or testing strategies with small position sizes. You need to trade standard lots (100,000 units) or larger to benefit from IBKR’s cost advantage. For high-volume algorithmic traders, commissions can drop to $1 per lot.

Another thing that impressed us was the size of liquidity in the IB FX platform. The company deals with 17 of the world’s biggest liquidity providers, meaning that if you trade very large sizes, such as 100s of lots, or you trade using automated systems, you’ll find IB is well suited for you.

Interactive Brokers Automated Trading Platforms

When we opened our account, we could choose from three proprietary platforms: IBKR Client Portal, Trader Workstation, and IBKR Mobile. Each was built for active traders, though all of the in-house IB platforms felt a bit old and clunky to us. It’s important to note that we were unable to use MetaTrader 4 or MetaTrader 5 – they’re simply not offered by IBKR.

The Trader Workstation is Interactive Brokers’ most powerful trading platform, and it’s the only platform you can download onto your desktop (Windows). For algorithmic traders, TWS provides sophisticated order types and comprehensive risk management tools.

Interactive Brokers provides robust API infrastructure specifically designed for automated trading. Their REST API endpoints and FIX protocol connectivity allow you to connect proprietary software directly to your trading account with low latency. If you’re experienced with coding, you can build custom automation using Python, C++, Java, or virtually any major programming language.

The platform supports algorithmic trading through API access that lets your custom software execute trades automatically based on your strategies. For traders running high-frequency strategies, the low-latency infrastructure is essential – any delay kills the edge on pattern recognition systems.

Most serious traders on IBKR use third-party trading platforms. We use NinjaTrader when trading with IBKR, but some of our serious trader friends use SierraChart, cTrader and DAS Trader. These platforms integrate with IBKR’s API infrastructure, giving you flexibility to use your preferred interface while benefiting from IBKR’s low costs and deep liquidity.

Interactive Brokers: Our Verdict

Interactive Brokers provides an excellent service overall with an extensive range of trading products and institutional-grade trading platform infrastructure for algorithmic trading. They make an ideal choice for experienced traders who trade one lot and above to get the best from the low fees. The API infrastructure and professional tools are unmatched, though beginners should look elsewhere due to platform complexity.

We recommend FOREX.com for its excellent MT4 and MT5 platform options like MT4 which include advanced trading tools and charting abilities suitable for even experienced traders. If you intend to pursue automated trading for forex, this broker offers nine proprietary EAs, including Sentiment Trader.

The broker’s proprietary REST API allows you to connect your algorithmic strategy to 80 forex markets for deep liquidity access.

FOREX.com MT4 EAs allow for algo trading

FOREX.com is one of the largest brokers on this list due to its large international presence. While the offering for US account holders differs slightly due to regulatory requirements, it remains an excellent option for its low trading costs and powerful collection of trading tools.

Key Strengths:

• Sophisticated technical trading tools
• Great variety of currency pairs
• Fast trade execution

FOREX.com Trading Accounts and Products

If you’re a beginning retail investor, the Standard and MetaTrader 4 and 5 accounts charge no commission or funding costs and a minimum spread of 1.2 pips. The main difference? Your trading platform. Standard account holders will execute trades via FOREX.com’s proprietary platform, while MT4 account users will, predictably, trade via the MetaTrader 4 trading platform.

If you’re a system trader or rely heavily on volume and speed to generate gains, you may prefer the RAW Spread Account. This account has variable spreads that start from 0.0 pips and a commission of $14.00 round-turn ($7.00 side ways) for each 100k lot you trade.

With over 80 currency pairs, plus unleveraged gold and silver, FOREX.com stands out among the best forex brokers in usa for the range of asset classes available to US-based forex traders.

FOREX.com Automated Trading Platforms

Of all the brokers we reviewed, FOREX.com offers the most comprehensive range of trading tools and platforms to support your automated trading system. With ultra-low spreads starting from 0.0 pips on the RAW account, FOREX.com combines tight pricing with powerful automation capabilities.

If you prefer the classics, FOREX.com has a dedicated account type just for MetaTrader 4. In addition to advanced charting, hundreds of technical indicators and drawing tools, MetaTrader 4 allows forex traders to automate trading strategies using their own or third-party EAs.

MetaEditor, the internal code editor included in the MetaTrader 4 trading terminal, empowers you to develop and test your own Expert Advisors with custom technical indicators and scripts using the MQL4 programming language. Even better: because developer MetaQuotes has released the source code for MetaTrader 4, high-quality, professionally designed integrations apps and robots to facilitate automated trading abound. MetaTrader 4 also helps you safeguard your investment and outsource risk management with integrations designed to automatically hedge positions.

For those who prefer the look and feel of MetaTrader 4 but require access to the more powerful technical indicators and analytics of its younger sibling, MetaTrader 4’s Python package allows for integration with MetaTrader5.

Not convinced MetaTrader 4 is right for you? FOREX.com has other options available. In addition to MetaTrader 5, the broker’s proprietary REST API enables traders to connect an algorithmic trading strategy to over 80 forex markets, giving traders access to deep liquidity, as well as advanced order types and live-streaming prices.

FOREX.com also offers brokerage account holders the option to trade via NinjaTrader 8, which supports automated trading and EAs. The platform boasts access to thousands of third-party technical indicators to assist in developing trading apps, advanced charts, chart drawing tools and social trading services. Professional developers well-versed in C# can write and sell automation on an open market, while less advanced forex traders can take advantage of NinjaTrader’s “point and click” construction system to build, backtest and implement automation and indicators.

Finally, FOREX.com account holders have access to automated market analysis via Trading Central, FOREX.com’s proprietary expert advisor tool and advanced charts powered by Trading View.

In terms of trading tools, beginners developing the trading strategy to drive an EA will appreciate FOREX.com’s charting tools, particularly the ability to customize virtually every aspect of a chart – from indicators to colors to size – ensures maximum clarity and legibility for even novices trading on a demo account.

Suitable even for professional traders, FOREX.com’s advanced charting features an extensive array of chart types, timeframes and technical indicators and drawing tools. Users have the option to save preferred chart types and variables for future use, as well as compare multiple financial markets with overlays. As a leader in online trading for almost two decades, FOREX.com has developed some of the most powerful, flexible analytical tools available.

FOREX.com also allows brokerage account holders to purchase VPS hosting for an additional fee.

FOREX.com: Our Verdict

An easy-to-navigate trading environment, low trading costs and numerous trading platforms from which to choose make FOREX.com a good choice for intermediate and advanced traders hoping to control costs without sacrificing a quality trading experience.

*Your capital is at risk up to ‘76% of retail CFD accounts lose money with FOREX.com’

We recommend Trading.com based on its status as one of the few forex brokers offering US traders access to MetaTrader 5, along with specialized educational resources for those exploring automated trading with the upgraded MetaQuotes trading platform.

All told, we think Trading.com provides a straightforward trading environment with excellent options for trading with bots through EAS, competitive costs and a wide variety of instruments for trading.

Trading.com MT5 has EAs for automated trading

One of the few forex brokers to offer US traders access to MetaTrader 5 (MT5), Trading.com has the customer support and educational resources for forex traders exploring the ‘upgraded’ automated trading platform from MetaQuotes.

Key Strengths:

• Straightforward trading environment
• Round-the-clock, live customer support
• Wide range of available instruments to trade

Trading.com Trading Account Types

Trading.com likes to keep things simple – very, very simple. This leading forex broker offers only one account type in a bid to increase transparency and eliminate confusion around what traders receive when opening an account with the broker.

A T1 account with Trading.com requires a minimum deposit of just USD$50, and offers variable spreads starting from 0.7 pips on major currency pairs, including EUR/USD and EUR/GBP. Trading.com charges no commissions on round-turn trades, meaning you pay only the spread.

Designed for US-based forex traders, Trading.com focuses on just that: forex. The broker deals in all major currency pairs, as well as several exotics, for a total of 70 currency pairs – but that’s the extent of its product range. Those interested in trading precious metals, indices or stocks may need to look elsewhere for a secondary brokerage account.

Trading.com Automated Trading Platforms

While Trading.com does offer forex traders the option to trade using the broker’s proprietary trading platform, those interested in an automated trading strategy may opt instead for MetaTrader5. Unlike MetaTrader 4, which relies on Expert Advisers (EAs), as well as third-party integrations and forex trading robots to support algorithmic trading, MetaTrader5 was designed specifically as an automated trading platform.

Of course, MetaTrader5 also supports EAs, but the trading platform goes further. In addition to more advanced technical indicators and advanced charting tools than MetaTrader 4, MetaTrader 5 also includes an unlimited number of pricing screens. The automated trading platform also supports mirror trading, which functions much like copy trading. Forex traders select a particular investor to follow, ‘mirroring’ his or her positions with the help of a trading program.

While MetaTrader 5 will charge a fee to mirror another trader, it also ensures that you follow a trader whose risk management style, trading strategy and market analysis match your own by giving you access to comprehensive metrics regarding previous performance, preferring financial instruments and timeframes.

For those already familiar with the MQL5 programming language, MetaTrader5 includes a proprietary code editor built into the platform that allows you to write, backtest and refine your own algorithm to support any trading style, from scalping to swing trading.

Trading.com: Our Verdict

Trading.com is a great choice for traders on a budget in need of low trading fees and competitive spreads. The broker’s powerful MT5 platform offers great support for algorithmic trading strategies.

We recommend Charles Schwab powered by TD-Ameritrade for its advanced automated trading features available on the thinkorswim platform. This platform includes detailed charting and price alert tools as part of the INVESTools package, which can enhance trading accuracy.

For traders used to MetaTrader 4, thinkorswim offers a similar experience with additional features. In addition to the tools found in MetaTrader, thinkorswim provides extra calculators and customizable expert advisors (EAs), making it a strong choice for those who need a comprehensive trading platform.

Charles Schwab has automation with thinkorswim

As part of the Charles Schwab group, the broker offers forex traders the benefits of automated trading alongside a diverse range of assets to help manage risk and boost potential gains.

Key Strengths:

• Top-tier market research and analysis tools
• Excellent customer service
• $0 commissions on online listed trades

Charles Schwab Trading Accounts and Products

A standard brokerage account allows you to easily deposit funds and trade investments through a brokerage, with penalty- and restriction-free withdrawals, no contribution limits, and flexibility to adapt to market conditions. Charles Schwab enhances this experience with a broad range of investment products, exceptional customer support, and strong safety features.

For everyday traders who include forex in a diverse investment strategy, Charles Schwab is an appealing choice. As a full-service brokerage, Schwab provides a comprehensive range of trading products, including 65 forex pairs, precious metals, cryptocurrencies, stocks listed on U.S. exchanges, over-the-counter (OTC) stocks, futures and futures options, and ETFs. Keep in mind that commissions may vary depending on the specific product.

Charles Schwab Automated Trading Platforms

With Schwab, you can set up automatic investments in eligible mutual funds within your brokerage account by going to the Trade section and selecting Automatic Investing. While thinkorswim offers features similar to MetaTrader 4, it stands out with its advanced charts, calculators, and expert advisors (EAs), supporting a wide range of trading strategies.

For those new to automated trading, thinkorswim makes the transition easy with tools like Strategy Roller, which allows traders to ‘borrow’ the trading platform’s pre-defined criteria to roll forward a covered call strategy on a monthly basis.

Algorithmic traders have access to over 400 technical studies on which to base an automated trading strategy via thinkScript, and thinkorswim claims to have developed a social sentiment tool as powerful as that of any other broker, which traders can use to develop trading signals.

thinkScript provides savvy forex traders with a powerful tool for automating their trading strategies, though it requires some initial setup. With thinkScript, you can automate every aspect of your trading plan using the platform’s Condition Wizard and market movement monitors to scan for opportunities and execute trades when specific conditions are met.

For those with some extra cash to spend, forex trading robots developed explicitly for use with thinkorswim using tools like NinjaTrader are available for purchase on the open market.

Charles Schwab: Our Verdict

Supported by one of the most trusted names in US financial services, Charles Schwab provides new traders with extensive educational resources. Advanced traders benefit from the thinkorswim platform’s flexibility and the broad array of tradable assets available.

We recommend tastyfx, the rebranded version of IG Markets, for its unique platform options available to US traders. Particularly noteworthy is ProRealTime, which offers advanced charting capabilities and automated trading tools powered by machine learning. With ProRealTime, you can build custom algorithms and utilize a variety of technical indicators to enhance your trading strategies.

Additionally, for traders who are fans of MetaTrader 4, tastyfx provides access to this popular platform along with its extensive collection of expert advisors (EAs). This ensures that you have a comprehensive suite of tools to suit your trading preferences and strategies.

Tastyfx offer ProRealTime charting software with automation

Tastyfx stands out as one of the largest brokers on this list, with licenses in the UK, Australia, Singapore, and Japan. For US account holders, Tastyfx offers access to unique trading platforms not commonly found with other brokers, including ProRealTime, which is ideal for those who prefer advanced charting.

Key Strengths:

• Extensive research tools and trading strategy ideas
• Excellent educational tools and trading supports
• Great proprietary trading platforms

Tastyfx Trading Accounts and Products

Tastyfx offers US traders a single account type: the CFD account. With no commissions and good leverage, however, it has attractive features for novice forex traders and more experienced hands. Leverage for major currency pairs extends to 50:1, the maximum allowed, while minor pairs are capped at 20:1.

Spreads vary across currency pairs and can range from a tight 0.08 pips for EUR/USD to 3.2 pips for GBP/CHF. Tastyfx also claims to offer 20% lower spreads than the nearest competitors for EUR/USD pairs.

Tastyfx specializes in forex products, and the range of available currency pairs won’t disappoint. Over 80 currency combinations, including EUR/USD and EUR/GBP, as well as a collection of exotic and emerging currencies.

Tastyfx Automated Trading Platforms

In addition to MetaTrader 4, which affords forex traders the option to develop customized automations with the MQL4 programming language or integrate an independently-developed a third-party forex trading robot, Tastyfx account holders can also opt to automate their trading using ProRealTime.

ProRealTime is renowned for its powerful charting tools and also supports automated trading strategies through a range of advanced features. The platform leverages machine learning to enhance trading from charts, with tools like automated trend lines that can be set to redraw every five minutes and custom technical indicators that trigger specific order types.

For those interested in custom development, ProRealTime offers ProBuilder, its proprietary coding language, allowing traders to create personalized algorithms and technical indicators. This feature supports the development of tailored forex trading robots, providing an advanced level of customization for dedicated traders. For beginner traders, Tastyfx provides comprehensive educational resources and user-friendly interfaces that make the transition to automated trading more manageable.

Tastyfx: Our Verdict

From advanced market research to a broad range of trading products and competitive spreads, Tastyfx offers everything an advanced trader needs to optimize their automated trading strategies.

We recommend eToro to American traders with an interest in automated social and copy trading, particularly for cryptocurrency. While experienced traders may find the platform too limited, beginners and casual traders will enjoy the features designed to make it simple to mirror professional strategies and open positions automatically. American traders should be aware, however, that Forex trading is not available.

eToro has copy trading to copy other traders

eToro doesn’t yet offer forex trading to US customers – Americans are limited to trading cryptocurrency and bitcoin – but we’ve included it here since its trading platform offers several automated trading supports.

Key Strengths:

• Supports social and copy trading
• Excellent selection of cryptocurrencies
• Innovative, game-ified approach to investing

eToro Trading Accounts and Products

While eToro continues to expand its presence in the US, residents of some states may find themselves eligible for only a virtual account. For other American traders, the brokerage currently offers a single account option and limits forex trading to cryptocurrencies.

An eToro Standard account operates on a dealing-desk model with a 1 pip spread and a ‘spread plus 1%’ fee round round-turn per lot. Leverage is capped at 30:1, slightly lower than other brokers we reviewed. The costs associated with trading stocks and ETFs are competitive, however, with 0% commission. Stock traders can buy and sell fractional shares, also at no commission.

As you might expect, given the emphasis on digital currency, eToro allows traders to fund accounts using cryptocurrency, including Bitcoin (BTC) and Ethereum (ETH).

In addition to 42 cryptocurrencies, eToro’s American account holders can trade in stocks and ETFs.

eToro Automated Trading Platforms

As the broker best known for going all-in on the Best Social Trading Platforms and copy trading, eToro stands out for its copy trading tools, designed to allow new or casual retail investors to easily follow the movements of more experienced and successful forex traders. The system operates on a similar logic as mirror trading, with eToro’s sentiment data collection tool for monitoring top traders on the platform and synthesizing their trading decisions into a broadly applicable series of trades executed on behalf of any user following those investors.

A wall-style feed of comments, tips and suggestions from eToro’s ‘community’ of investors takes pride of place in the platform interface, giving US clients insight into how successful eToro retail investors and professional traders around the world perceive the forex market in real-time.

More experienced traders may find the platform rather too restrictive, given the emphasis on copy trading and the focus on casual retail traders who lack the desire to develop their own trading strategies. In addition to the limited range of products, eToro’s trading platform also lacks third-party integrations for more powerful platforms, such as MetaTrader 4 or MetaTrader 5.

eToro: Our Verdict

For casual or beginner traders interested in exploring day trading and those who prefer to trade only crypto, eToro has much to offer. Regulatory restrictions and a limited range of automations may render it less appealing to experienced traders accustomed to coding their own bots or using custom robots.

We recommend Coinbase for crypto traders seeking automated trading platforms through third-party bot integration. While Coinbase doesn’t provide native trading bots, their API infrastructure supports external automation platforms like 3Commas, Bitsgap, and TradersPost.

The broker recently launched Coinbase Advisor, an AI-powered portfolio management tool. Important note: Coinbase Inc. is not CFTC-regulated, meaning spot crypto accounts lack CFTC customer protection.

Coinbase supports third-party automation

Coinbase is America’s largest cryptocurrency exchange but doesn’t offer forex trading to US customers. We’ve included it here since the platform’s API infrastructure supports several third-party automated trading solutions for crypto markets.

Key Strengths:

• Secure API connectivity for external bot platforms
• AI-powered advisory tools
• Multiple cryptocurrency markets available

Coinbase Trading Accounts and Products

For automated trading, you’ll use Coinbase Advanced Trade, which provides API access for connecting third-party automation tools. US traders can access 90+ cryptocurrencies including Bitcoin, Ethereum, and other major tokens.

Coinbase Inc. operates as a money services business registered with FinCEN but is NOT CFTC-registered. Only their separate derivatives platform, Coinbase Financial Markets, holds CFTC registration. For spot crypto trading with bots, you’re using Coinbase Inc., which operates outside CFTC oversight.

Fees are based on a maker-taker model with volume discounts. You can fund via bank transfer, debit card, or wire transfer.

Coinbase Automated Trading Platforms

Since Coinbase doesn’t provide native bots, you connect external platforms through their API. We tested 3Commas integration and found setup straightforward. You generate API keys in your Coinbase account, then connect to 3Commas for DCA bots, Grid bots, and Signal bots triggered by TradingView alerts.

Bitsgap provides DCA, GRID, and BTD (Buy The Dip) bots. The GRID bot works well for sideways crypto markets, placing buy and sell orders around set prices. TradersPost connects TradingView alerts directly to your account for automated execution.

The downside is these third-party services charge monthly fees ranging from $20 to $100+. Coinbase also launched Coinbase Advisor, an AI tool that analyzes your portfolio and provides personalized recommendations, though this is advisory rather than full automation.

Coinbase: Our Verdict

For crypto traders seeking algorithmic strategies through third-party bots, Coinbase provides solid API infrastructure. However, traders must understand Coinbase Inc. lacks CFTC regulation and customer protection. The limited automation features and crypto-only markets may disappoint experienced algorithmic traders accustomed to MetaTrader or forex automation.

We recommend Plus500 for futures traders seeking automated risk management on a beginner-friendly platform. While Plus500 doesn’t support algorithmic trading or API access, their platform provides automated order execution through stop-loss and take-profit parameters. With $0.89 commissions per contract, $100 minimum deposit, and CFTC regulation, Plus500 makes futures trading accessible for retail traders.

Plus500 provides basic futures automation

Plus500 entered the US futures market in 2021, providing a proprietary platform designed for retail traders. The broker focuses on simplicity over advanced automation features.

Key Strengths:

• Automated order execution with stop-loss/take-profit
• Low fixed commissions with no hidden fees
• User-friendly platform for beginners

Plus500 Trading Accounts and Products

Plus500 offers a single Standard Account providing access to approximately 60 futures contracts across equity indices (E-mini S&P 500, Nasdaq), forex futures (EUR/USD, GBP/USD), commodities (Gold, Oil), cryptocurrency futures (Bitcoin, Ethereum), and interest rates.

Commission structure is straightforward: $0.89 per side for standard contracts ($1.78 round-turn) and $0.49 per side for micro contracts ($0.98 round-turn). All regulatory and exchange fees are included.

Minimum deposit is $100 via debit card or $200 via wire transfer. Plus500 charges a $10 auto-liquidation fee and $10 quarterly inactivity fee (avoided by simply logging in).

Plus500 Automated Trading Platforms

Plus500’s automation is limited to risk management features. You can set stop-loss and take-profit orders that execute automatically when price levels are hit. During our testing, orders triggered exactly as programmed, providing reliable exit automation for traders who can’t monitor positions constantly.

The platform provides real-time market alerts and custom notifications for margin calls, expiring positions, and price targets. We set up notifications on the mobile app and received instant push alerts when positions hit targets.

Plus500 offers an unlimited demo account for testing automated order strategies with virtual funds. Unlike brokers offering MT4 or API access, Plus500 doesn’t support third-party automation tools or trading bots for retail accounts. The proprietary platform is the only option.

Plus500: Our Verdict

For futures traders needing basic automated risk management without full algorithmic capabilities, Plus500 delivers reliable stop-loss and take-profit execution at low commissions. Serious algorithmic traders requiring API access or Expert Advisors should look elsewhere. For beginners wanting simple futures automation, Plus500 provides a straightforward solution.