Best Automated Forex Trading Software Review: The Top Picks in 2021

Are you looking for an easier way to trade forex and make a profit? The good news is that modern automated forex trading software can help you accomplish just that. These programs leverage advanced algorithms and real-time data analysis to make smart, profitable trades without any intervention from you.

In this review, we'll explore the best automated forex trading software on the market. We'll examine their features, functionalities, and how they perform against one another. By the end of this article, you should be able to pick one that works for you and start trading successfully.

The Criteria We Used to Evaluate Automated Forex Trading Software

Before we dive into the reviews, let's discuss the criteria we used to evaluate these forex trading software programs.


The primary goal of an automated forex trading software program is to make profitable trades. For this reason, we gave priority to programs that have demonstrated accuracy in the past. We gathered information from independent third-party sources to corroborate accuracy claims made by software developers.


Profitability alone is not enough to pick the best software. A reliable program should be consistent in generating profit over time. We looked at how long each program has been in the market and the consistency of their results.


An automated forex trading software program should be easy to use and navigate. Users should be able to customize their settings and preferences without the need for extensive technical knowledge or coding skills.

Cutting-edge Technology

The foreign exchange market is highly dynamic and ever-changing. The best automated forex trading software programs should leverage advanced technology like machine learning and artificial intelligence to analyze trends and make predictions.


Transparency is key in forex trading, and the same should apply to automated trading software programs. The best programs should provide users with real-time information, including trading histories, account balances, and performance analyses.


Trading involves sensitive information like financial data and personal details. The best automated forex trading software programs should have robust encryption mechanisms to ensure that this data is secure from unauthorized access.

Customer Support

Finally, we evaluated how responsive the customer support team for each software program is. The team should be available to offer technical support and answer any questions or concerns that users may have.

With this criteria in mind, let's take a look at the best automated forex trading software programs for 2021.

1. MetaTrader 4 and 5

MetaTrader 4 (MT4) and 5 (MT5) are among the oldest and most popular automated forex trading software programs on the market. Developed by MetaQuotes, the software is user friendly and versatile. It offers users extensive customization options, including trading strategies and charting tools.

MetaTrader also supports an extensive library of third-party plugins and add-ons, making it easy to tailor your trading experience.

In terms of reliability, MetaTrader has been around for over a decade and has a massive user base. It is trusted and has been proven to generate profit consistently over time.

MetaTrader is also renowned for its accuracy and the speed of trade execution, thanks to its advanced algorithms that analyze real-time data.

MetaTrader's primary downside is its lack of transparency. The platform leaves users in the dark about what goes on behind the scenes, and this could be a turn-off for some users.

Key features:




MetaTrader is free to download, and traders pay affordable commissions per trade.

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2. cTrader

Second on our list of best automated forex trading software programs is cTrader, a comprehensive platform designed for both novice and experienced traders. cTrader is equipped with advanced charting tools, trade analytics, and real-time data.

The cTrader platform enables traders to make a broad range of trades using advanced order types and modern trading tools. Users enjoy access to a wide range of trading features and customizations like short selling, trading alerts, and multi-chart support.

One of cTrader's key selling points is its ability to execute trades quickly. Thanks to its cutting-edge technology, cTrader maintains liquidity across several sources to ensure fast trade execution speeds.

cTrader also provides users with a high level of security, with user accounts segregated for enhanced protection.

The platform is slightly more complex than others, and beginners may struggle to navigate the interface.

Key features:




cTrader is free to download and use, with traders paying commissions per trade.

3. NinjaTrader

NinjaTrader is another popular forex trading software program that offers users an extensive range of features and tools. The platform offers advanced charting and analytical tools accompanied by custom indicators and backtesting capabilities.

NinjaTrader also features advanced automated trading and backtesting functionalities that traders can use to develop and test their strategies against real-time market conditions. This functionality enables traders to develop more effective strategies that suit their personal trading preferences.

Indicators, tools, and addons can be downloaded directly from the application's library, making it convenient to use.

Like other top forex trading software programs, NinjaTrader supports the use of modern technology like Machine Learning, AI and advanced algorithms to analyze data and make predictions.

NinjaTrader's primary downside is its affordability, with some of its features only available in the more expensive premium packages.

Key features:




NinjaTrader offers a free version for the platform plus affordable packages for other advanced options starting at $50 a month.

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4. is a popular and widely-used forex trading platform that offers traders access to several trading tools and functionalities. Its trading platform features real-time data analysis, indicators, charts, and various types of orders. accommodates institutional traders, new traders, signal providers, and EAs. The platform ranks high with regards to transparency, thanks to its detailed performance analysis and user-friendly interface.

The platform also comes equipped with a feature that allows users to copy other traders' strategies, saving time, and effort that would have gone to manually identifying and entering trades.

Unfortunately, customers in certain countries may not access as it operates in strict compliance with regulatory stipulations. The platform also has limitations with regards to customization.

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Pricing: offers a subscription to its advanced features starting at $12.00 a month.

5. is a cloud-based forex trading software program. It features automated trading strategies with accurate and fast trade execution. The program features a custom order closing mechanism for cutting losses and securing gains.

The software uses advanced algorithms that scan the market and trigger trades according to specific parameters set by traders. The user interface is clean and easy to use, and users can customize their preferences. has excellent customer support, with a chat feature on the platform and email correspondence.

Unfortunately, the program accepts a limited number of currencies and does not integrate with other software platforms.

Key features:




Prosignalrobot offers a free 7-day trial. After the trial, payments are made according to the subscription offered.

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Automated forex trading software can significantly improve your trading experience by completely automating the trading process. The best automated forex trading software programs combine cutting-edge technology, reliability, accuracy, transparency, and security to help traders make profitable trades easily.

As demonstrated in this review, there are several great choices for users at different experience levels and preferences. MetaTrader 4 and 5 are the most popular, cTrader provides a great experience with fast execution speed, and NinjaTrader offers tools for advanced forex traders. and ProSignal robot offer further options for beginner traders.

Picking the best automated forex trading software for you depends on your specific goals, preferences, level of expertise, and the amount you are willing to invest. However, this review provides you with the information you need to make an informed decision.