Best Automated Trading App UK 2024 – Safest Auto Trading Apps

Heading into 2024, there are more and more retail investors looking for ways to build wealth. As many soon find out, trading takes a long time, and so it leads many down a path of searching for an auto trading app that suits their needs.

This article will review the six best automated trading apps in the UK. eToro, as we will see, is popular for its time benefits and accessibility for beginner traders. However, different apps can suit different traders, so it’s important to consider all factors.

Best automated trading apps in the UK reviewed.

There are many auto-trading apps on the market, and it’s important to choose the right one. Different auto trading apps will offer certain advantages over each other, so it’s important to keep in mind your trading strategy and the markets you’re interested in when reading the auto trading app reviews.

1. yPredict- The Best AI Trading Platform For Reliable Auto Trading

This is an AI trading tool marketplace that makes it easy to access the very best automated trading tools, AI signal software, market analysis models, and more in one place. The platform allows developers to monetize their models by listing them for subscription on the marketplace. Users can then choose which models to subscribe to based on their unique trading needs. This will enable users to make the most of AI trading technology and improve their trading decisions.

yPredict is unlike any other automated trading tool. Users can vote for which models are listed and delisted on the platform. This means that unsuccessful models can be taken down to ensure that only the best models are available. Furthermore, all AI trading tools are fully tried and tested before being made available to subscribers.

The entire platform is supported by YPRED- a polygon-matic token with strong utility. YPRED will be used to pay for platform subscriptions, reward developers, vote in the DAO, and take part in staking. YPRED tokens will also be given to users who spend time on the platform through a learn-to-earn mechanism.

Developers who list their models will be given 70% of the monthly subscription fee. This is a great way for AI experts to earn passive income through their talents. However, only the top AI experts will be able to list on the platform.

To access yPredict for a low price, you can take part in the ongoing presale event. Here, tokens are available at a discount. After the presale, YPRED will be launched on exchanges, and the price will go up. This will make subscriptions more expensive.

68% of retail investor accounts lose money when trading CFDs with this provider. Sponsored ad.

2. eToro – Auto Trading App with Copy Trading Features

It is an Israeli trading platform that was founded in 2006 and is a popular auto-trading app in the UK. Despite being almost 16 years old, it’s only in the past few years that the platform has grown to great heights. The reason for this is, in part, because of what it offers automated traders.

With eToro, you see for yourself that the app is a social trading app; you can follow other traders, see their posts, engage with them, and discover what more experienced traders have in their portfolios. This makes it popular for a beginner to get trading ideas, but it’s the Copy Trading feature that takes this to a new level.

Copy trading in eToro is where one trader can copy the trades of another trader. Instead of just following them to see their posts, you can mirror all of their transactions, so that the second they buy or sell a stock, so do you.

The feature’s automatic nature enhances trading convenience significantly. While caution is advised in selecting traders to copy, this level of accessibility for beginners is unparalleled on other platforms. The Smart Portfolios feature further allows users to automate trades across multiple markets based on predefined investment strategies.

eToro offers additional advantages, including an intuitive platform with zero commission on stock trades, making it cost-effective. The platform provides instant access to fundamental data and user-friendly crypto trading chart pattern tools, making it an excellent choice for swift intermediate research.

68% of retail investor accounts lose money when trading CFDs with this provider. Sponsored ad.

3. Dash 2 Trade- The Best Automated Trading Platform To use in 2024

If you’re looking for a crypto trading platform that offers EVERYTHING, Dash 2 Trade is the best app to consider in 2024. The platform is a brand-new offering that was launched earlier this year and promises to become the go-to for all cryptocurrency traders.

Dash 2 Trade is an innovative platform built on blockchain technology. The application aims to provide users with everything that they need to maximize their profits and make smart trading decisions. That includes educational resources, trading signals, expert insight, token listing alerts, token rankings, daily news, social trading features, and exclusive trading competitions. The overall goal is to ensure that users have everything they need to start making money from trading.

Dash 2 Trade stands out by exclusively concentrating on crypto trading. This optimization positions users for profitable outcomes in the crypto asset market. A team of industry experts backs the platform, maintaining transparency throughout its development. Their core belief is to maximize the value delivered to subscribers through the platform.

Dash 2 Trade offers an automated trading experience with precise signals, enhancing the trading journey for users. The platform utilizes algorithmic alerts to guide traders on optimal trade placement, ensuring accuracy and a high success rate.

The native D2T token supports the Dash 2 Trade platform, serving as a utility ERC20 token with a deflationary supply. Users holding D2T tokens gain access to advanced platform features, improving their overall trading experience.

The token’s demand is expected to rise, presenting an opportunity for potential investors. While the presale concluded in January, the current low price offers a favorable entry point before anticipated gains as the project continues its development.

Your money is at risk.

4. Learn2Trade – Auto Trading App with Accurate Signals

This app is a lesser-known trading platform that was founded in 2019. However, the British trading platform is regulated by the FCA, so their age shouldn’t be too much of a hindrance.

Learn2Trade is predominantly a forex and cryptocurrency trading platform. It has a vast amount of useful educational resources on how to trade and is very much a 24/7 service, given that forex markets never sleep.

However, Learn2trade is very different from the other platforms. They don’t allow copy trading, and they’re not used to building bespoke trading robots. Instead, they provide automated trading signals, which are signals they have created from a variety of analyses and can help you automate your trades through these signals, notifying you upon receiving such signals.

These can be powerful signals that are hard to recreate as a retail investor. However, they focus mostly on forex and crypto but do offer some free signals upon opening an account. Plus, this process isn’t fully automated from head-to-toe like some other platforms here.

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5. MT5 via Libertex – Popular Automated Trading App with Competitive Fees

Libertex is a veteran trading platform, having been founded in 1997. The platform is currently based in Cyprus and is regulated by CySEC. Libertex is predominantly a CFD and forex trading platform. While there is commission, spreads are very low and competitive on Libertex. Furthermore, Islamic accounts are also offered, along with demo accounts. To understand demo accounts more, you can check out our article on the “best demo trading apps.”

Libertex is a popular option for automated trading because it has integration with the auto-trading app Meta Trader 5. While MT4 is the preferred choice of many due to being more established within the community, MT4 has its advantages too: it’s more suited to non-forex trading and allows further backtesting than MT4.

Libertex can also be used with CTrader Automate, which has a C# API and an IDE to turn trading ideas into a reality. Of course, the MT5 software uses MQL5 instead and is generally the most popular option, with a wide array of advanced signals and bot-creating features.

One of the biggest benefits of using Libertex is that it allows scalping, so very active, higher-frequency trading techniques work well here, as well as having competitive spreads.

Ultimately, Libertex highly global auto trading app with many language translations and has been around long enough to know the importance of good phone, email, and live chat support. It’s one of the most popular stock trading apps, but only if you’re interested in CFDs and using Meta Trader.

75.3% of retail investor accounts lose money when trading CFDs with this provider. Sponsored ad.

6. Zulutrade via AvaTrade – Best Auto Trading App for Beginners

Founded in 2006, AvaTrade is a widely regulated CFD broker. AvaTrade is a unique trading platform in that it doesn’t have built-in social trading like eToro, but it does offer something similar through third parties such as Zulutrade.

In our article on the “best copy trading apps“, you find that Zulutrade is a very versatile program, offering both algorithmic-building capabilities as well as copy trading. The auto-trading app has two main sections: signal providers and followers. The signal providers are the traders who are letting their portfolio and trading activity be seen publicly and copied, while the followers are the ones doing the copying.

ZuluScript allows users to create scripts, such as parameters for your trading bots, while the Automator is a notification that’s sent via email on any new activity you have done. However, there is a monthly subscription fee of $21 for using Zulutrade, plus a spread and a $500 minimum deposit.

It’s crucial to note that some signal providers have many followers copying their trades with real money, even though the trader being copied is using fake demo money in some cases. This could cause issues with risk.

AvaTrade itself offers very good research functionality for technical traders, who use the concepts of candlesticks to analyze trades. It also offers great CFD fees.

71% of retail investor accounts lose money when trading CFDs with this provider. Sponsored ad.

7. Ninja Trader – Trusted Auto Trading App for Forex Trading

This US-based auto-trading app was founded in 2003. The platform charges an account fee for the premium features, but the features on offer can be great for investors looking to automate their trades. The platform also has a brilliant education section with many videos, webinars, and platform guides.

NinjaTrader is only used for options and futures, as it doesn’t offer stocks, ETFs, forex, or even CFDs. This is bad news for most traders, but for traders focusing on options and futures, this may not be an issue. Seven futures markets and four options markets are available.

NinjaTrader stands out for its self-contained platform, allowing users to develop automated trading strategies seamlessly. With built-in features for backtesting, automatic ordering, stop losses, and ATM strategies, NinjaTrader eliminates the need for third-party integrations. The platform offers an intuitive UI and a wealth of learning resources for user convenience.

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Types of Automated Apps

As we can see from the platform reviews above, there are a wide range of ways that a platform can facilitate automated trading. Automated trading apps come in different forms, so in case there is still any confusion, here is a quick summary of the three main types of automated trading apps. Alternatively, you can read our full guide on the best apps for day-trading crypto to learn more about the subject matter

Copy Trading Apps

An automated trading app is up to the individuals themselves, as all of our trading needs are different. However, Copy-trading apps are arguably more suited for beginners. The most popular and accessible copy trading app is eToro.

Copy Trading is where users assign their trades to an investor’s trades, and thus their account mirrors theirs. If the experienced investor buys more Tesla, your account automatically purchases Tesla right after. Furthermore, eToro goes a step further with Smart Portfolios, which “copy multiple markets based on a predetermined investment strategy”.

Of course, the limitation here is that traders may not learn more about trading from doing this alone. However, it can save traders from losing money through amateur mistakes and be a fast-track way into automated trading.

Automated Trading Robots

Automated trading robot is a term used to refer to algorithmic trading that’s predicated on market signals. While trading bots can of course be created for stocks, CFDs, and so on, we can break automated trading robots into two main categories: forex and crypto.

Forex Trading Robot

Forex trading robots are widely popular because of the liquid, 24/7 currency market. They’re designed to mitigate the human errors we make from psychological and irrational urges and instead run our strategy in a pure, logical way that is uninterrupted.

The best auto-trading apps for forex trading robots are MT4 and MT5. While most traders prefer the former, MT5 is better suited for forex trading, allowing the incorporation of numerous indicators like the moving average, into the trading robot. It executes orders swiftly and without hesitation, enabling the backtesting of entire strategies against historical data.

Crypto Trading Robot

With the rise of cryptocurrency, many traders inevitably want to automate their trading in this space too. Plus, the market is arguably less overrun by big bank trading robots, and retail investors have more of an influence. This could make it easier to perform well with your amateur trading bot instead of being beaten by banks that use high-frequency, state-of-the-art infrastructure.

Platforms like the BitIQ app have their own AI-driven programs that can make up to 100 trades per minute with high accuracy. In our BitIQ review, we emphasized how the bot uses natural language processing to read breaking news and other human language to determine very quickly if Bitcoin should be bought or sold. Of course, Bitcoin volatility is high, and it’s difficult for even AI programs to turn a reliable profit.

Automated Trading Signals Apps

Automated trading signals are a way to buy or sell assets automatically, but they are derived from advice. This advice is a platform such as learn2trade or cryptosignals.org, which provides such signals for trades. When the trade is complete, the provider notifies the investor that the trade is complete, which is slightly different from ordinary trading bots.

Political, economic, natural disasters, and many other indicators are often used. Platforms such as learn2trade provide unique and powerful signals that would be difficult to acquire or even think of on your own, making them slightly more accessible than, say, building a trading algorithm in C# from scratch.

Best Automated Crypto Trading Apps

eToro, for all of the reasons stated above, remains a popular automated bitcoin trading app. In regards to cryptocurrency specifically, the platform has 40+ different cryptocurrencies. This may not sound like a lot, but it’s common for crypto traders to stick with the high-cap cryptos due to being more stable, established, and have more historical data.

The higher volatility of crypto can lead to more potential for intraday profit (and losses), and can still be facilitated through eToro’s Copy Trading feature.

For a crypto-focused platform with advanced AI-driven algorithms, Bitiq is a reliable choice. It certainly isn’t among the best investment tools and analysis software, but it conducts market analysis and executes trades on your behalf, offering sophisticated insights. While profits aren’t guaranteed, Bitiq’s capabilities surpass those of many retail traders’ algorithms.

Best Automated Forex Trading Apps

The best automated trading apps for forex will depend on whether or not you want to build your trading robot or not. If you’re not yet confident in programming a robot trading app yourself, then eToro remains the number one choice. With competitive spreads, 45 currency pairs to choose from, and the Copy Trading function, eToro is a great choice to automate your forex trading.

The charting is fantastic if you want to intervene with some manual trades, and there are many traders to copy that focus solely on forex; these will trade throughout the night while you’re asleep.

However, for those wanting more control and customization over their automated forex trading, using MT5 via Libertex is a great option. MT5 is fantastic for assessing forex indicators like the MACD indicator, turning the trading strategy hypothesis into a working model, and backtesting your strategy. These two combine as the best-automated trading platforms for more advanced traders looking to create a unique edge.

Verifying Auto Trading App Results

When automating your trades based on other traders’ activity or the indicators provided by certain platforms, it’s important to seek out their results. On eToro, this is easy, because the traders’ portfolios are public and the data is easily visualized. However, for other platforms, you may need to do some digging to avoid automating a poorly constructed strategy.

Companies that act like a Robo Advisor or an automated fund should declare their results, although it may be in the small print. This can usually be found with a simple Google search of “X platform historical performance.” For companies that offer automated trading signals and such, this can be a little more challenging.

However, some people go to the effort of using their own money and putting the platform to the test, so it’s possible to find reviews of individual investors’ performances using the platform. It may not be wise to take a single person as concrete evidence, but weighing up various results from different places on the internet can give a clearer idea.

Is automated trading a good idea?

Automated trading can be both a good and a bad idea for UK traders, depending on various factors. On the positive side, automated trading systems offer several advantages. Firstly, they can execute trades swiftly and efficiently, eliminating human errors and emotions that may affect trading decisions. This can lead to improved accuracy and consistency in executing trades.

Additionally, automated trading systems can monitor multiple markets simultaneously, allowing traders to take advantage of various opportunities that may arise. Moreover, these systems can operate 24/7, enabling traders to seize trading opportunities even when they are not actively monitoring the markets.

However, there are drawbacks to automated trading as well. One major concern is the reliance on pre-programmed algorithms, which may not account for sudden market changes or unexpected events. Additionally, automated systems can be complex and require technical expertise to set up and maintain properly.

Furthermore, there is always a risk of technical failures or glitches, which can lead to substantial financial losses. It is crucial for UK traders to thoroughly understand the nuances of automated trading, use reliable and well-tested systems, and continuously monitor their performance to mitigate potential risks.

What Is The Success Rate Of Automated Trading?

The success rate of automated trading tools varies depending on several factors. Firstly, the choice of the tool itself plays a significant role. Different automated trading tools employ various algorithms and strategies, leading to different outcomes. Some tools may have a higher success rate due to their advanced algorithms and real-time data analysis capabilities.

Secondly, the current market conditions can greatly impact the performance of automated trading. Markets can be volatile and unpredictable, which may affect the accuracy of trading decisions made by the tool. A tool that performs well in one market condition may struggle in another.

Thirdly, the amount of research conducted alongside the auto trader is crucial. While automated tools can analyze vast amounts of data quickly, traders need to understand the underlying market dynamics, trends, and indicators to make informed decisions. You should do your own research and it can greatly enhance the effectiveness of automated trading tools. It is essential to remember that automated trading tools are not infallible and cannot guarantee consistent profits.

Therefore, it is wise for traders to evaluate the tool’s performance, adapt strategies as needed, and regularly monitor and update their trading approach to align with changing market conditions. Ultimately, the success rate of automated trading tools is influenced by the tool’s capabilities, market conditions, and the trader’s research and adaptability.

Conclusion

Automated trading not only saves time but also helps mitigate psychological and human errors in trading. While these are simply transferred to the source investor in copy trading on sites like eToro, the source investor may be far more experienced and accustomed to managing these human errors.

Overall, it is recommended that traders perform their research regardless of what auto trading app they pick, and keep a very close eye on the activity and performance of their automated trades.

References

https://www.cnbc.com/2023/08/02/elon-musk-tweets-twitter-bots-boosted-ftx-listed-crypto-researchers.html

https://www.bbc.co.uk/news/technology-67302788

https://www.cnbctv18.com/cryptocurrency/what-are-cryptocurrency-trading-bots-and-how-do-they-work-11676662.htm

https://www.londonstockexchange.com/equities-trading/trading-innovations

https://www.bbc.com/news/business-35830311

Frequently Asked Questions on Auto Trading Apps