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Thadeus Geodfrey is an experienced and celebrated writer and self-taught trader specialising in cryptocurrencies and forex. Market analysis, identifying fraudulent brokers, and security are his cup of tea. At BrokerRaters Thadeus develops educational materials and user-guides, offer market insights, ensures our content conforms to the best standards. Join Thadeus to succeed in your trading endeavours.
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Online trading can be time-consuming and incredibly exhausting. Moreover, the slightest errors and misjudgments can cause you hefty losses as a trader. But don’t be scared. We have a solution that can improve your profitability and reduce the stress of trading: automated trading.
With an excellent automated trading platform, you can leverage sophisticated technologies, reduce the impact of human errors, and enjoy other benefits. Fortunately, Australia offers a range of automated trading platforms. While not all of them are worth your time, in this guide, our team has evaluated and identified the five best automated trading platforms in Australia that you can consider.
We aim to provide factual, unbiased recommendations. To select the best platforms for this guide, our experts assessed various factors, including regulatory status, fees, online reputation, and support quality. Now, you can confidently choose the best automated trading platform in Australia from our curated list.
List of the Best AI Trading Platforms
- Pepperstone – Overall Best AI Trading Platform
- AvaTrade – Best AI Trading Platform for Beginners in Australia
- FP Markets – Best AI Trading Platform for Seasoned Australian Traders
- FxPro – Best AI Trading Platform for Dedicated Forex Traders in Australia
- eToro – Best AI Trading Platform for Australian Social Traders
In This Guide
Australian AI Trading Platforms: Comparison Table
Australia offers a wide array of AI trading platforms. While we’ve encountered hundreds, there are likely thousands of providers in the region. However, in this guide we focus exclusively on licensed and reputable companies, avoiding unlicensed or questionable entities.
Our experts conducted thorough assessments to identify the best automated trading platform in Australia. We examined several key factors, including licensing, regulation, customer support, and platform features. We recommend you apply the same criteria when reviewing our suggested platforms to find the best fit for your needs.
The table below outlines the key factors to consider when selecting an AI trading platform from our list. These criteria have guided our recommendations for years and consistently delivered reliable results.
| Best AI Trading Platform Australia | License & Regulation | Support Service | Software | Payment Method | Demo Account |
|---|---|---|---|---|---|
| Pepperstone | ASIC, FCA, MAS, FSCA, DFSA, CySEC, CMA, SCB, BaFin | 24/7 | TradingView, MT4, MT5, cTrader, Pepperstone Trading Platform, Social trading | Visa, Mastercard, Bank transfer, Neteller, Skrill, PayPal | Yes |
| AvaTrade | ASIC, FCA, MAS, FSCA, CBI, CySEC, PFSA, B.V.I FSC, FSA, ADGM, ISA | 24/5 | WebTrader, AvaOptions, AvaTrade App, Mac Trading, MT4, MT5, Automated Trading | Credit/debit cards, Neteller, Skrill, Wire transfer, WebMoney | Yes |
| FP Markets | ASIC, FCA, MAS, FSCA, CMA, CySEC, FSA | 24/7 | MT4, MT5, TradingView, cTrader, WebTrader, Mobile App, Copy Trading | Credit/debit cards, Neteller, Skrill, Bank transfer, Google Pay, Apple Pay | Yes |
| FxPro | ASIC, FCA, FMA, CySEC, FSCA, SCB | 24/5 | FxPro Mobile App, MT4, MT5, cTrader, FxPro WebTrader | Credit/debit cards, Bank wire transfers, Neteller, Skrill, PayPal | Yes |
| eToro | ASIC, FCA, MAS, CySEC, FSCA, SFSA ADGM, MFSA, FSAS, GFSC, SEC | 24/5 | eToro investing platform and app, Multi-asset platform, Social Trading, Copy Trader, Smart Portfolios | Credit/debit cards, Bank transfer, Klarna, PayPal, Skrill, Neteller | Yes |
Platforms Short Overview
When choosing the best AI trading platform in Australia, it’s essential to consider both fees and available assets. Why? Because using a cost-effective platform helps keep your expenses down, protecting your capital and potential profits. Conversely, high fees can significantly erode your gains. Additionally, choosing a broker that doesn’t offer the assets you want to trade is pointless, as you won’t be able to execute your desired trades.
Below, we’ve provided two comparison tables detailing the fees and assets of Australia’s top AI trading platforms. Use these tables to evaluate our recommended platforms and find the one that best meets your needs.
Fees
| Best AI Trading Platform Australia | Minimum Deposit Requirement | Commission/ Spreads | Deposits/ Withdrawals | Inactivity Fee |
|---|---|---|---|---|
| Pepperstone | $0 | From 0.0 pips | Free | $0 |
| AvaTrade | $100 | From 0.13% | Free | $50 after every 3 consecutive months of inactivity |
| FP Markets | $100 | From 0.0 pips | Free | $0 |
| FxPro | $100 | From $3.50 per lot | Free | $10 monthly |
| eToro | $50 | From 0% | $5 withdrawal fee | $10 monthly |
Assets
| Best AI Trading Platform Australia | Stocks | Forex | Crypto | Commodities | Indices | ETFs | Options |
|---|---|---|---|---|---|---|---|
| Pepperstone | Yes | Yes | Yes | Yes | Yes | Yes | No |
| AvaTrade | Yes | Yes | Yes | Yes | Yes | Yes | Yes |
| FP Markets | Yes | Yes | Yes | Yes | Yes | Yes | Yes |
| FxPro | Yes | Yes | Yes | Yes | Yes | Yes | No |
| eToro | Yes | Yes | Yes | Yes | Yes | Yes | Yes |
Our Expert Opinion about AI Trading Platforms
We picked the best AI trading platform in Australia by evaluating a range of crucial factors. First and foremost, we ensured every service provider was authorised and regulated by ASIC before including it in our guide. But our assessment didn’t stop there. We also considered each platform’s online reputation, reviewing ratings and feedback from various independent sources, including Google Play, the App Store, and Trustpilot.
Additionally, our team tested every service provider recommended here. The pros and cons we’ve highlighted are based on first-hand experience. We’ve provided an honest and unbiased evaluation, highlighting all significant aspects to stay true to our mission. Now, let’s explore what the top 5 AI trading platforms in Australia have to offer.
1. Pepperstone – Overall Best AI Trading Platform
Pepperstone, headquartered in Melbourne, is our top pick for the best AI trading platform in Australia. We recommend it for its impressive algorithmic trading features. If you’re an experienced trader, you can code your own expert advisors (EAs). For those who are less experienced, Pepperstone allows you to purchase existing EAs and backtest strategies using a powerful trading simulator.
The Pepperstone trading platform offers over 1,200 financial instruments, from forex pairs and commodities to shares, indices, and digital currencies. The platform offers exceptionally tight spreads starting from 0.0 pips on its Razor accounts and doesn’t require a minimum deposit, so you can start trading with any amount of capital.
We also vouch for Pepperstone because it provides outstanding features. We tested the Pepperstone Trading Platform and were captivated by its terrific user interface, Quick Switch feature, customisable watchlists, and much more. It supports a variety of third-party trading solutions, including cTrader, MT4, TradingView, and MT5, making it a versatile choice for your trading needs.
Pepperstone
✔24/7 support service
✔User-friendly and navigable platform
Pros & Cons
Fees
Trading Assets
Pros
- Users are allowed to build and buy EAs
- Powerful trading simulator for backtesting strategies
- No minimum deposit requirement
- Free deposits and withdrawals
- Offers professional support 24/7
- MT4, MT4, TradingView, and cTrader are hosted
- Zero inactivity fees
Cons
- Limited financial products compared to its peers
- Few educational tools and materials
We find Pepperstone broker to be one of the brokers with transparent fee structures. There are no hidden charges, so what you see displayed on its platform is what you will incur. This makes it easier for you to budget without worrying about overspending.
Let’s discover below some of the trading and non-trading charges at Pepperstone.
| Trading and Non-Trading Charges | Details |
|---|---|
| Account Opening | $0 |
| Management Fee | $0 |
| Minimum Deposit Requirement | From $0, depending on your jurisdiction |
| Commission | From $0.02 on US-listed shares |
| Spreads | From 0.0 pips on its Razor Account |
| Deposits and Withdrawals | Free |
| Inactivity | None |
| Overnight Funding | Varies based on global market conditions |
| Copy Trading | Free |
Note that Pepperstone charges both spreads and commissions. While spreads are charged on all accounts, commissions are only imposed on the Razor Account.
2. AvaTrade – Best AI Trading Platform for Beginners in Australia
For beginners, AvaTrade stands out as the best AI trading platform in Australia, thanks to its extensive user base and wealth of educational resources. We highly recommend AvaTrade for its comprehensive learning materials. The broker offers numerous articles that cover the basics of auto trading and its advantages, making it an excellent resource for those new to AI trading.
AvaTrade offers more than just articles. Its free trading academy, Ava Academy, is a standout feature. Here, you can access hundreds of courses, lessons, quizzes, and guides on a wide range of topics. Whether you’re interested in forex, stocks, cryptocurrencies, or indices, Ava Academy covers almost every aspect of trading.
When it comes to automated trading, AvaTrade offers two excellent solutions: AvaSocial and DupliTrade. AvaSocial is designed to facilitate seamless social trading. With this platform, beginners can follow experienced traders and copy their moves. On the other hand, DupliTrade is a third-party software that allows AvaTrade users to duplicate what experts do directly into their trading accounts automatically.
In summary, AvaTrade is an ideal choice for beginners due to its user-friendly interface, comprehensive educational resources, and robust support for MT4 and MT5.
AvaTrade
✔Regulated by FCA
✔The platform supports algorithmic trading
Pros & Cons
Fees
Trading Assets
Pros
- Friendly user interface optimised for beginners
- High-calibre educational resources and materials
- Terrific customer support service
- Supports social and copy-trading
- Excellent trading platforms are available, including MT4 and MT5
Cons
- High inactivity fee for dormant accounts
- Limited assets compared to other outstanding service providers
Our experts investigated the AvaTrade broker’s fees and charges. We first noticed that the platform has a modest minimum deposit requirement of $100. What’s more, its users pay no additional costs while depositing funds or cashing out. That makes AvaTrade an ideal broker for both cost-conscious and newbie traders who want to test their waters with small capital before going all in.
That said, AvaTrade requires dormant account holders to pay $50 after every 3 consecutive months of inactivity. Moreover, if you let your account remain inactive for over successive months of inactivity, the broker will charge you a $100 administration fee. Not to forget, AvaTrade requires traders who hold positions overnight to cover a premium.
Here’s a breakdown of the fees you should expect to encounter while trading with this service provider:
| Fees and Charges | Amount |
|---|---|
| Spreads | From 0.9 pips |
| Administration fee | $100 |
| Inactivity fee | $50 |
| Overnight premium | Yes |
3. FP Markets – Best AI Trading Platform for Seasoned Australian Traders
Most platforms recommended here are suitable for professionals, but none can compare to FP Markets. This broker supports numerous powerful trading platforms, including MT4 and MT5, which are equipped with advanced tools and features to elevate your trading career. These platforms also allow you to develop and utilize sophisticated automated trading strategies.
In addition to MT4 and MT5, FP Markets provides several other platforms that can benefit experienced traders. These include WebTrader, cTrader, and TradingView. Iress, a popular platform that allows users to exploit sophisticated charting and analysis tools, is also available on FP Markets. The broker has also developed and released a powerful mobile app for trading on the go.
We consider FP Markets an incredible AI trading platform because it supports social trading. This feature enables you to find, follow, and copy the trades of high-caliber traders, helping you advance your career and potentially boost your returns without the need to learn programming or build your own systems.
FP Markets
✔Low minimum deposit requirement
✔Hosts numerous learning and market analysis tools
Pros & Cons
Fees
Trading Assets
Pros
- MT4, MT5, and other powerful platforms are available
- Users can follow and copy other top-performing traders
- Sharp spreads starting from 0.0 pips
- Cost-free deposits and withdrawals
- Expert support is available 24/7
- Traders have access to over 10,0000 CFD products
Cons
- Most of the available products are CFDs
- Limited learning tools and materials
We reviewed the applicable FP Markets fees, and like that the broker has a transparent structure. This allows users to efficiently plan for their activities without worrying about incurring additional costs. There are no hidden charges and no price manipulation with this broker.
| Trading and Non-Trading Charges | Details |
|---|---|
| Account Opening | $0 |
| Management Fee | $0 |
| Minimum Deposit Requirement | From $50, depending on your jurisdiction |
| Commission | From 0% |
| Spreads | From 0.0 pips on major currency pairs |
| Deposits and Withdrawals | Free deposits. Withdrawal fees apply based on the payment method used |
| Inactivity | $0 |
| Overnight Funding | Varies based on global market conditions |
| Copy Trading | Free |
4. FxPro – Best AI Trading Platform for Dedicated Forex Traders in Australia
For dedicated forex traders in Australia, FxPro is our top recommendation. We highly vouch for this service provider because it allows users to take full advantage of expert advisors through MT4 and MT5 trading platforms. In addition, FxPro customers have access to cTrader Automate, an advanced solution that allows savvy traders to develop custom auto trading solutions.
FxPro also excels in offering valuable EA trading guides and other materials. These come in handy when you need refresher courses or want to increase your knowledge base. Furthermore, the platform gives you the opportunity to run your algorithmic systems on a stable VPS. FxPro’s VPS is tailored for forex traders who want to run EAs and bots throughout the day without having to keep their trading terminals running.
Over 70 major, minor, and exotic FX pairs are available on FxPro. They range from popular options like EUR/USD and GBP/USD to rare products like EUR/CHF and USD/TRY. The platform also offers other assets, including shares, metals, and futures.
FxPro
✔24/7 customer support
✔Thousands of financial instruments
Pros & Cons
Fees
Trading Assets
Pros
- Over 2,000 financial assets, including 70+ forex pairs
- Supports MT4, MT5, and cTrader
- Users can run EAs and bots 24-hours with the FxPro VPS
- The support team issues rapid responses
- No additional fees for deposits and withdrawals
Cons
- Few educational materials
- Focuses primarily on forex and CFD trading
Admittedly, FxPro isn’t the cheapest broker today. The company requires first-time users to make a $100 initial deposit to use a standard account, which is reasonable but can’t be termed as the lowest threshold. Also, Raw+ account holders must make an initial deposit of $500 or more. Additionally, anyone interested in the company’s Elite account offering must be ready to meet the $30k minimum deposit mandate. Please review and understand FxPro minimum deposit requirements before registering a live account.
When it comes to spreads and commissions, FxPro has juicy offerings. Everyone who opts for Raw+ or Elite gets the opportunity to enjoy sharp spreads starting from 0 pips. The numbers are higher for Standard Account owners, with the lowest spreads starting from 1.2 pips.
We have some good news for those worried about transaction fees inflating costs. FxPro doesn’t charge additional deposit or withdrawal fees. However, you may have to cover charges inflicted by financial institutions, depending on your preferred funding method.
Here’s an overview of the FxPro broker fees and charges:
| Fees and Charges | Amount |
|---|---|
| Minimum deposit | $100 |
| Spreads | From 0 pips |
| Transaction fees | $0 |
| Currency conversion fee | Yes |
5. eToro – Best AI Trading Platform for Australian Social Traders
If you’re into social trading, eToro is our top pick for the best AI trading platform in Australia. Social trading lets you follow and copy the strategies of successful traders, and eToro excels in this area.
On eToro, you’ll join a large community of active traders and investors. You can discover and replicate the trades of top performers, using filters to match your preferences, such as location and risk tolerance. If you are confident in your trading abilities and have a good track record, you can also join eToro’s Popular Investor program, where you’ll be rewarded for being copied by other eToro users.
eToro stands out with its impressive selection of 6,000 financial assets. You can trade everything from currency pairs and cryptocurrencies to company shares, indices, and ETFs. Unlike many platforms, eToro allows you to invest in real stocks, ETFs, and crypto assets, giving you more diverse and tangible investment opportunities.
eToro
✔ User-friendly trading platform
✔ Over 6000 trading instruments
Pros & Cons
Fees
Trading Assets
Pros
- Offers copy traders a vibrant community with 30 million+ members
- Gives users access to over 6,000 tradable assets
- eToro members can copy top investors and reap handsomely
- Real stocks, ETFs, and cryptocurrencies are offered
- Sharp spreads and commissions starting from 0%
- Top-tier educational resources and materials are available
Cons
- $10 monthly inactivity fee
- No third-party trading software like MetaTrader
eToro has a transparent fee structure that is easy to understand and helps you plan accordingly. From our analysis, we discovered the following trading and non-trading eToro fees.
| Trading and Non-Trading Charges | Details |
|---|---|
| Account Opening | $0 |
| Management Fee | $0 |
| From $50, depending on your jurisdiction | 0.6 |
| Commission | From 0% on stocks and ETF trading |
| Spreads | From 1 pip on major currency pairs |
| Deposits and Withdrawals | $5 withdrawal |
| Inactivity | $10 monthly |
| Currency Conversion | 1.5% or 3.0%, depending on the currency or payment method |
| Overnight Funding | Varies based on global market conditions |
| Copy Trading | Free |
AI Trading in Australia
If you’re 18 or older, you can take full advantage of AI trading in Australia without legal concerns, as it is fully regulated in the country. However, it’s crucial to familiarize yourself with Australian taxation laws before you start. Keep in mind that proceeds from online trading are taxable. To safeguard your funds and protect against issues like data and identity theft, always choose an AI trading platform that is authorized and regulated by ASIC.
What is AI Trading?
AI trading allows you to automate trade execution with AI technologies, advanced algorithms, EAs, etc. Experts sometimes refer to AI trading as automated or algorithmic trading, so don’t be surprised if you come across these terms.
AI trading can either be fully or semi-automated. With full-automated AI trading, AI systems do everything without human intervention. Conversely, semi-automated systems provide recommendations and allow human users to make the final decision.
How does Automated Trading Work?
Automated trading systems analyze vast amounts of market data, including trends, historical prices, breaking news, and other data sets. They then use this analysis to make informed buying and selling decisions. The best automated trading systems are also programmed to continuously monitor market conditions and tweak strategies accordingly, which is indispensable in risk management.
How to Choose the Best AI Trading Platform in AU
While we’ve highlighted the top 5 AI trading platforms in Australia, many other options are available, and not all are worth your time or money. To avoid platforms with poor performance, questionable ethics, or reliability issues, consider the following factors when selecting an AI trading platform:
Regulation
Performance
Reputation
Flexibility
Fees
Customer Support
Ensure every platform you trade with is regulated by ASIC in Australia. For added security, we encourage you to prioritise service providers authorised by other authorities in different regions, like the FCA in the UK and CySEC in Cyprus. An ideal platform should also have robust data encryption technologies and other cybersecurity protocols.
Before using an AI trading solution, check its backtesting history and gauge performance based on what you see. Whenever possible, you should use both proprietary or third-party tools to vet systems and strategies to avoid nasty surprises.
Visit Google Play, the App Store, and Trustpilot and assess each AI trading platform’s reputation before signing up. These reviews will give you insights into what to expect while trading with a specific service provider. Favor platforms with consistently positive feedback.
If you are a seasoned pro who wants to build custom systems and strategies, you must look for a platform that offers flexibility. The best platforms allow you to do different things, depending on your preferences, from coding EAs to tweaking multiple parameters.
Evaluate the fee structure of each platform before signing up. Consider all costs, including transaction fees, account inactivity charges, commissions, and spreads. High fees can significantly impact your potential returns, so opt for cost-effective platforms.
The best AI trading platform should offer 24-hour customer support service through various channels, like email and live chat. Test the support team to assess their response time and the quality of their assistance. Reliable and prompt customer support is crucial for a smooth trading experience.
AI Trading Risks
While AI trading offers many benefits, it also comes with certain risks. For starters, AI trading systems rely on complex algorithms. The slightest coding errors or bugs in said systems can cause issues like incorrect trade execution and, ultimately, significant financial losses. Additionally, some systems use machine learning, which can cause them to behave unpredictably under unexpected market conditions.
Another risk is overfitting. Some platforms are designed to perform exceptionally well with their training data but may struggle to make accurate predictions with new or unfamiliar data. This can limit their effectiveness in changing market environments.
Pros & Cons of Automated Trading
After extensive research and hands-on experience with automated trading, we’ve identified several key pros and cons. Consider these factors before you start live AI trading:
Pros
- Automated trading systems can execute trades faster than humans
- Automated trading reduces the impact of human errors
- Automated systems can trade 24/7
- AI trading systems are immune to emotional bias
- AI-powered systems can multitask more efficiently
Cons
- Technical issues can undermine an automated system’s performance
- Unusual market conditions can lead to hefty losses in automated trading
Conclusion
An excellent automated trading platform in Australia can help minimize losses and increase potential returns. However, automated trading comes with its own set of risks. It’s crucial to understand these risks and learn how to manage them effectively. Familiarize yourself with risk management strategies to safeguard against potential losses while utilizing AI-powered trading systems.
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