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Best Automated Trading Platform in the UK 2022

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More and more traders are turning to automated trading and letting algorithms do most of the thinking. 

But with many brokerages offering automation, finding the right one can be challenging. To help you narrow down your choices and pick the very best automated trading platform in the UK, we’ve compiled a list based on:

  • Automated trading platforms
  • Trading instruments
  • Fees
  • Mobile app
  • Educational content

Written by, Marija Petkova

Updated November, 12, 2022

1. eToro

  • Copy-to-use trading feature
  • Free insurance
  • Mobile app for crypto transfers

2. Pepperstone

  • No withdrawal and inactivity fees
  • Third-app integrations
  • Multiple social copy-trading platforms

3. AVATrade

  • Several automated platforms
  • Mirror trader account
  • No withdrawal fees

4. XTB

  • Forex spreads start at 0.1 pips
  • 40+ currency pairs
  • MetaTrader 4 auto trading

5. Vantage FX

  • Three automated trading platforms
  • Unlimited demo account
  • Advanced copy trading features

6. City Index

  • Spread betting
  • Customisable indicators and workspace
  • Tight spreads

7. FXCM Trading Platform

  • Copy trading
  • Low crypto spreads
  • No direction restrictions in crypto trading

8. Interactive Brokers

  • Built-in currency convertor
  • Free trading tools
  • No-coding-required automated trader

Detailed Reviews

1 . eToro Review

Best Overall
  • Rating: 10/10
  • Offered products: Stocks, ETFs, currencies, cryptocurrencies, indices, and commodities
  • Trading fees class: Low
  • Charged inactivity fee: $10 per month
  • Withdrawal fee: $5
  • Minimum deposit: $10 for UK residents
  • If you’re looking for a reputable trading platform in the UK, eToro might be the right choice, both for novice and experienced traders. eToro is a truly versatile company that offers many trading options, numerous payment mechanisms, and regular bank transfers. 

    What makes eToro great for beginners is its CopyPorfolios feature, where traders can automatically copy experienced traders’ patterns to maximise their gains. Those that share their own strategies get exclusive perks too.

    The platform also offers free insurance on up to one million pounds, social trading across 140 countries, and a free eToro demo account with $100K to practise your skills. The company also has two mobile apps, one of which, eToro money, is for money and crypto transfers.

    Pros
    • Copy-trading feature
    • Numerous deposit and withdrawal options
    • Free eToro practise account
    Cons
    • Higher minimum trading requirements compared to other platforms

    2 . Pepperstone Review

    Best for No Fees
  • Rating: 9.8/10
  • Offered products: Forex, indices, commodities, shares, ETFs, currency indices, cryptocurrencies
  • Trading fees class: Low
  • Charged inactivity fee: No
  • Withdrawal fee: $0
  • Minimum deposit: No minimum requirement (£500 minimum recommended)
  • The Australian broker is another low-risk choice for both manual and automated trading. It boasts a range of tradable markets, third-party tools, and plugins.

    Arguably, the best part about this platform is its automated trader. Pepperstone’s Application Programming Interface (API) technology enables access to numerous liquidity providers, and lets users trade on a custom-made trading system.

    The broker also has a tool called cTrader Automate, which lets you try out your trading schemes by creating personalised indicators and automated trading robots via the programming language C# and the cTrader API.

    Many Pepperstone reviews also mention the company’s comprehensive Education hub on its website, which boasts all types of resources, like guides, past webinars, and strategy tips Pepperstone has two different demo accounts for novice traders as well.

    Pros
    • No withdrawal or inactivity fees
    • Custom-made trading system
    • Great customer service
    Cons
    • MetaTrader platform could use some improvement

    3 . AVATrade Review

    Editor’s choice
  • Rating: 9.5/10
  • Offered products: cryptocurrencies, stocks, commodities, forex, and indices
  • Trading fees class: Low
  • Charged inactivity fee: Yes
  • Withdrawal fee: $50 per quarter
  • Minimum deposit: $100
  • AVATrade in the UK offers many options for traders. It has an extensive selection of trading platforms for CFD and forex traders and exceptional education content, which makes it great for beginners.

    Traders in the UK can choose between several automated trading platforms, including AVASocial, where traders can consult experienced traders, seek advice or simply automatically copy their trades; ZuluTrade, where you can find traders’ recommendations; and DupliTrade, a platform that is MT4 compatible allows users to automatically observe top-tier traders’ signals and strategies in real-time.

    You can also opt for a Mirror Trader account. It spreads better, offers level control choice and an easy sign-up process. There’s also a risk-free demo account and a sign-up bonus.

    What’s more, AVATrade has reasonable fees, plenty of trading instruments, and several payment options.

    Pros
    • Welcome bonus
    • No withdrawal fees
    • Multiple automated trading platforms
    Cons
    • Slower withdrawals

    4 . XTB Review

    Best for Forex Trading
  • Rating: 9.3/10
  • Offered products: ETF CFD, stock CFD, commodities, forex and indices
  • Trading fees class: Low
  • Charged inactivity fee: Yes
  • Withdrawal fee: No
  • Minimum deposit: No
  • XTB is another excellent platform choice for UK traders: It’s reliable, fast and extremely versatile.

    To automate the trading process, XTB relies on MetaTrader 4. The software offers a variety of analytical tools, strategy-testing options, and the ability to add oscillators and indicators.

    XTB’s Forex trading software has low spreads (starting at 0.1 pips), speedy deposits and withdrawals, 48 currency pairs, micro-lot trading, and the option to trade 24/5.

    The best part is the platform has no fixed minimum deposit amount and no withdrawal fee (for withdrawals above £60, €80, or $100).

    To get funds in and out of XTB, UK and EU traders can use credit and debit cards, bank transfers, as well as PayPal and Skrill.

    Pros
    • Low Forex spreads
    • 48 currency pairs
    • MetaTrader 4 auto trading
    Cons
    • Smaller investment portfolio compared to competition

    5 . Vantage FX Review

    Best for Beginners
  • Rating: 9.2/10
  • Offered products: Forex, indices, commodities, crypto, share CFDs
  • Trading fees class: Low
  • Charged inactivity fee: No
  • Withdrawal fee: No
  • Minimum deposit: $200
  • The  Vantage FX broker offers plenty of automated forex trading features for novice and experienced traders alike. 

    The company offers two forex trading platforms, both of which have automated trading options, including MetaTrader 4, where you can trade up to 40 currency pairs with a low minimum trade size of 0.1 lot and 9 timeframes; and MetaTrader 5, where you access all of the things available in MetaTrader 4, with up to 21 timeframes.

    Novice traders can practise their skills on the unlimited demo account or opt for the automated trading systems—ZuluTrade, AutoTrade, and DupliTrade. They can also comb through the Education section, where they can find numerous comprehensive guides, videos, and manuals. 

    Vantage FX also offers additional features for UK traders, such as free Forex Signals, up to 500:1 leverage, negative balance protection, and $0 deposit fees.

    Pros
    • 24/7 customer support
    • Unlimited demo account
    • Many copy-trade options
    Cons
    • Crypto trading is not available on weekends

    6 . City Index Review

    Best for Stock Trading
  • Rating: 9/10
  • Offered products: Forex, Indices, Shares, Spread Betting, Crypto, Commodities
  • Trading fees class: Low
  • Charged inactivity fee: Yes
  • Withdrawal fee: No
  • Minimum deposit: $100
  • City Index is among the best trading websites in the UK, offering three platforms for different trading preferences: Web Trader, which features custom indicators and a customizable workspace; MetaTrader, which features a trading signals feature; and iOS/Android Mobile Trading App, which allows spread betting.

     City Index also offers a demo account for beginners. Novice traders can use it for up to 12 weeks to access 12,000+ markets and trade with £10,000, risk-free.

    All traders on City Index can trade 4500+ shares. They can buy Apple and Amazon shares, for instance, with tight spreads and with the help of regular market insights. They can also speculate on price movements using their City Index Spread Betting account.

    Finally, City Index also offers access to MT4, which you can use to explore and create automated trading strategies with custom indicators and charting.

    Pros
    • £10,000 demo account
    • 4500+ tradable shares
    • Excellent spread betting
    Cons
    • Desktop platform can be more user-friendly

    7 . FXCM Review

    Best No Commission Platform
  • Rating: 8.8/10
  • Offered products: Forex, shares, cryptocurrencies, commodities, indices
  • Trading fees class: Low
  • Charged inactivity fee: Yes
  • Withdrawal fee: N/A
  • Minimum deposit: $50
  • With a great free trading account and zero commissions, FXCM is one of the best online brokers you can find.

    The company has a seamless MetaTrader 4 integration with a handy Virtual Private Server add-on that enhances speeds. Unlike many others, the MT4 they offer allows for scalping strategies

    Traders can find robust charts, as well as numerous trading tools like their proprietary Trader Sentiment, Real Volume, and Market Depth. FXCM also offers the ZuluTrade platform for copy trading.

    In addition to traditional forex, FXCM offers some of the industry’s tightest spreads on crypto trading, which can be traded automatically thanks to algorithmic machine learning. You can also use the latest version of NinjaTrader, which boasts automatic capabilities and the ability to create trading strategies from scratch.

    Pros
    • $0 commission
    • Free demo trading account 
    • Tight crypto spreads
    Cons
    • Somewhat limited range of trading instruments

    8 . InteractiveBrokers Review

    Best Exchange Rates
  • Rating: 8.5/10
  • Offered products: Stocks, options, futures, currencies, bonds, and funds
  • Trading fees class: Low
  • Charged inactivity fee: No
  • Withdrawal fee: Yes
  • Minimum deposit: $100
  • InteractiveBrokers is one of the pioneers in the industry that boasts an extensive catalogue of trading instruments and reasonable fees.

    Users can choose one of the 4 trading platforms, including the web-based Client Portal, Trader Workstation, IBKR Mobile, and IBKR APIs, which feature simple excel API for beginners and flagship FIX API for experienced users.

    InteractiveBrokers has numerous free trading tools like Bracket orders, which limits your losses; and Strategy builder, which gives traders the options to create complex multi-leg strategies.

    The platform allows UK traders to use its Capitalise.ai, which doesn’t require any coding skills and is easy to use. 

    You can also convert currency on the platforms with the help of an integrated tool that will guide you through the exchange.

    Pros
    • Integrated currency convertor
    • 4 trading platforms
    • No-coding automated trading AI
    Cons
    • Website is created with advanced users in mind

    A Guide to Automated Trading Platforms for UK Traders

    As online trading is becoming increasingly popular, more traders look for simple ways they can make money and follow in successful traders’ footsteps. 

    What Is an automated trading platform?

    Automated trading (also referred to as ‘algorithmic trading’ or “robot trading”) utilises pre-set computer software that is programmed to follow a series of rules (so-called “algorithm”) to execute a trade without much human interference. Having trading apps have also tapped interest to start investing.

    This practice, theoretically, allows for much faster execution of trades.

    To execute a trade, the software follows a set of predetermined factors or criteria. Once the criteria are met, the software conducts a thorough market analysis and then converts the information into trading ideas.

    Things to consider when choosing an automated trading platform

    Settling on a single automated trader can be hard. Here’s what you need to look for when choosing an automated trading platform.

    • Is the platform available in your country?
    • Does the platform provide access to your preferred markets and trading type?
    • Does it have an easy-to-navigate interface?
    • Does it have a mobile app or a desktop version?
    • How much is the minimum deposit requirement?
    • Is there a demo account?
    • Is it for beginners or more advanced users?
    • User reviews

    Pros and Cons of Automated Trading Platforms

    Even the very best online trading platform for UK traders comes with some risks.

    The Good

    • Data-driven decisions
    • Fewer errors
    • Simultaneous trading of multiple assets

    The Bad

    • Risk of compound losses
    • Wrong parameters can be a huge issue
    • Crowded trades

    Bottom Line

    Nowadays, many traders opt for a hands-free approach and rely on software to do all the heavy lifting. Luckily, there are many platforms to choose from, which are constantly improving and introducing new features, both for beginners and more experienced traders.

    FAQ

    Is Automated Trading Legal in the UK?

    Autotrading on a regulated trading platform in the UK is completely legal.

    What Percentage of Trading Is Done by Bots?

    Some reports suggest that over 80% of all trades are executed by automated bots.

    How to Get Into Trading in the UK?

    The first thing to do is find a reliable broker. If you’re a beginner, it’s best to opt for a demo that can help you figure out the trading instrument and features.

    Is Automated Trading Profitable?

    Profitability depends on many factors, and risk is part of every trade. You can trade on the best automated trading platform in the UK and still lose.