Table of Contents
Trading can be quite tricky to get into, especially if you have no clue about what you’re doing. Sure, you can try and get educated about it, but then it would take some time before you actually started. Thankfully you won’t need to wait for a long time to start trading right away because of technology.
Of course, you can go the old-school way and become a sole trader, but you can also rely on platforms. In this case, automated trading platforms would be right up your alley. Since they’re automated you won’t need to do a lot of work now, will you? Well, you still will need to do a bit of it.
Automated Trading Platforms Explained
In general, there are 3 kinds of automated platforms. The first kind of platform is the fully automated one. These platforms are called this way because everything is done inside the platform. So, users will get a set of tools so they can do some research before trading or don’t do anything at all as they can rely on other methods by other traders.
The second kind of automated trading platform is the automated trading signals platform. This means that the platform lets the user set a specific amount for trading and pick out a trading strategy. The platform will do the trading for the user until the user tells it otherwise.
Automated trading can also be done via an MT4 robot. This comes in the form of a platform with automated robot files that have algorithms that will do the trading for you. The robot will follow the algorithms to the letter.
Now that you know about the different kinds of automated trading platforms, you should know how to pick one.
Picking an Automated Platform
Naturally, you’ll find lots of automated platforms online and you’ll need to research them before you go for one. You can go for reputable ones as they will probably have several reasons why they have a large client base. Additionally, don’t forget about the monthly subscriptions and other fees you might need to pay.
A platform can be great and suited to you, but if you don’t have the budget for it then you can go to the next one. Make sure to verify the results of the platform as a lot of automated trading platforms will claim that you can earn a fortune with them. Customer service should also be on point as you might run into issues and you’ll need to contact customer support. To help you out in your choice, here are some automated trading platforms for you to consider:
eToro
This is one of the trading platforms you might have heard about because it’s rather popular. eToro comes with a variety of assets for users and it has some pretty low fees. It’s great for anyone starting with trading because you have a lot of perks. You can even copy the trading habits of other people using the app and profit. When it comes to assets, you can trade stocks, forex, cryptocurrencies, and more. In short, eToro is an all-around great app that you can consider.
Learn2Trade
The thing about eToro is that you’ll need to do a minimum amount of work and let the app do the rest. But if you’re looking to take an active approach then Learn2Trade is the platform for you. It focuses on signal trading. Once there’s an opportunity the platform will send a signal via Telegram. The signal will tell you all about the asset be it gold, indices, or stocks, and what action you should take.
AvaTrade
Unlike the previous 2 entries, AvaTrade is an MT4 trading platform which means it’s mostly powered by third parties such as trading sites. This is also a platform that can trade in your stead 24/7. You’ll also get a variety of assets to trade with such as hard metals, stocks, energies, and even cryptocurrencies. It also comes with no withdrawing fee as well as small fees for forex and crypto trading. You can set up an account with this platform or any of the other ones and not be disappointed.
Conclusion
The truth is that there is no need to know much about trading to get into it. Automated trading makes it easy for beginners to get into this, but automated trading platforms also can be good for more experienced traders. The ones suggested in this article are just 3 of the many other ones you’ll come across and if they’re a good fit then you should stick to them.
As time passes by, you’ll be a better trader and you’ll learn how to better make use of your platform. In the meantime keep practicing and make sure to learn the process as the process will help you take your trading skills to the next level.
