Trading robots are systems or software programs that use computer programs to signal traders to buy and sell assets and automatically execute the orders to a market exchange. This automated system generates orders depending on specific rules that are set based on a trading strategy.
It is high-frequency trading that effectively presents the prospect of profits. With the increasing popularity of trading robots, many of them have come up claiming lucrative benefits. In this article, let us look at some of the best trading robots in Australia in 2023.
Best Trading Robots In Australia
The following are the best trading robots in Australia. Each of these service providers has been selected based on detailed research and surveying the user responses.
1. Forex Fury
Forex Fury stands among the top trading robots in Australia. This trading platform uses the latest technologies and the power of artificial intelligence to generate real-time automated trading results. Once the trading strategy is set, this bot will begin its work by analyzing the market trends, gathering historical price data, and monitoring the price fluctuations in digital assets. Forex Fury trades 1 hour per day and 1 pair per account to tackle volatility and support steady growth.
It is integrated with low, medium, and high-risk strategies so that traders at all skill levels can easily use the one that suits them. The system is compatible with FIFO, ECN, NFA, MT4, and MT5 Build 600+. Traders and investors can trade any asset pair including crypto.
To ensure a comfortable and safe trading environment, the system has partnered with reputed MT4/MT5 brokers. Forex Fury can be installed in just 5 minutes and consists of guides and videos to assist you in the trading process. The demo account feature is available and you can also begin live trades with a minimum deposit of $100.
2. Bitcoin Code
Next comes Bitcoin Code which is an advanced crypto-trading robot designed to help traders at all skill levels trade cryptocurrencies with ease. This platform works by setting up particular trading parameters based on the trader’s own preferences and rules. The account managers of this bot will use these parameters to search for matching trades and notify the right trading opportunities in the market.
Bitcoin Code is compatible with all devices and can be run on any device with a stable internet connection and a safe browser. The creators constantly update the platform to include new features. Bitcoin Code is a free software that is easy to set up and suitable for both beginners and experts.
CarinaBot is yet another efficient automated trading robot that analyzes markets and automatically trades. This trading bot works by analyzing EUR/USD markets in real time. It forms a derived price and compares it with the current price of assets. Then, it waits for a deviation in these two prices and when a deviation with a high probability arises, the bot carries out trades.
CarinaBot looks at two aspects for making profits, opening and closing the trade. It calculates an optimal volume to open a trade position and uses pre-calculated take-profits and stop-losses with the highest probability of success to close the trade. This bot is free for the first three months. After that, if you make profits, pay 10% of it every month.
Next on the list is eToro which is an automated trading platform that stands on top due to its safety and reputation, multiple asset classes, cost-effectiveness, and ease of use. Through this platform, traders can discover a wide range of assets, strategies, and ideas. The digital assets available on eToro include stocks, crypto, and ETFs. As of now, this trading bot has more than 30 million users worldwide.
It uses top-tier security practices to protect the confidential information shared by traders and also safeguard the digital assets traded. eToro charges zero percent commission on stocks and ETFs. Other features include investment insurance of up to 1 million euros/AUD, unique portfolios, and the opportunity to copy the strategies of expert traders.
5. 1000pip Climber
1000pip Climber is a 100% rule-based forex system that uses advanced algorithms to deliver accurate trade signals. By using the latest technology, the system generates signals and enters trades. Once the rules are set, this robot will do all the work and provide clear entry, stop loss, and take profit values. 1000pip Climber is easy to follow and is perfect for beginners.
All key parameters are provided and the creator offers a lifetime license for just $97. Also, no monthly payments are charged to the members. The main aim of 1000pip Climber is to consistently produce strong signals. It is optimized for 6 forex pairs and the bot performs well in trending and ranging markets.
Pros and Cons of Trading Robots
Here are some of the pros and cons of trading robots:
- Automated trading process
- Accurate trading signals
- High speed and efficiency
- Avoids emotions
- Falls on the expensive side
- Trading robots lack flexibility
- Technical failures and errors
In recent years, the demand for trading robots has increased due to their automation features and ease of use. These bots are ideal for all traders who wish to save time and also gain huge returns. But, the downside is that plenty of trading bots are available in the market and only the right one can help level up the trading process.
Here, the best trading robots in Australia are listed and each one is known for its efficiency and safety. You can choose any one trading system and embark on your profit-making journey.