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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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Since its introduction in 1949, automated trading’s popularity has risen to immense proportions for splendid reasons. To begin with, since it eliminates the need for perpetual human intervention, this solution has made it possible for busy individuals to trade financial markets without compromising other facets of their lives. What’s more, through automated trading, avid traders get the chance to eliminate emotional bias and its impact on profitability.
Would you like to benefit from automated online trading today? First, find and sign up with one of the best automated trading Australian platforms. Where can you get such a platform, you wonder? This guide has covered that aspect. Below, we’ve listed and reviewed 5 top automated trading service providers in Australia.
List of the Automated Trading Platforms
- Interactive Brokers – Overall Best Automated Trading Platform
- eToro – Best Automated Trading Platform for Australian Newbies
- Pepperstone – Best Automated Platform for Scalping Artists
- FP Markets – Best Automated Trading Platform for Risk-Tolerant Australians
- AvaTrade – Best Automated Trading Platform for MT4 Enthusiasts
In This Guide
Australian Automated Trading Platforms: Comparison Table
You are searching for the best automated trading platform for you, right? First, you should put every service provider through a lens of relevance, reliability, and trustworthiness. In simpler words, gauge every broker’s suitability and other positive attributes using factors like online reputation, regulatory status, and support quality.
We encourage you to vet every service provider using such factors, including the brokers we’ve ranked as the best in Australia. And while at it, remember your goals and expectations. Don’t settle for a broker whose attributes, products, and services are unlikely to help you hit your goals today and in the long run.
On that note, we’ve compared the best Australian automated trading platforms below based on what we consider to be the most critical class of factors, from regulation to demo account support.
| Best Automated Trading Platform Australia | License & Regulation | Support Service | Software | Payment Method | Demo Account |
|---|---|---|---|---|---|
| Interactive Brokers | 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 |
| 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 |
| 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 |
| 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 |
| 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 |
Platforms Short Overview
Your vetting framework should also incorporate fees and assets. We insist upon that for solid reasons. By vetting each service provider’s fees, you stand a better chance of avoiding exorbitant charges and protecting your returns.
What’s more, for optimum convenience and to ensure you won’t have any problems diversifying your portfolio, you need to check every broker’s range of supported financial assets before signing up. And if you prioritize affordability and optimum convenience, compare different service providers’ fees and assets.
Below’s a brief summation of the best automated trading platforms’ fees and assets.
Fees
| Best Automated Trading Australian Platform | Minimum Deposit Requirement | Commission/ Spreads | Deposits/ Withdrawals | Inactivity Fee |
|---|---|---|---|---|
| Interactive Brokers | $0 | From 0.08% | From $10 withdrawal fees | $0 |
| eToro | $50 | From 0% | $5 withdrawal fee | $10 monthly |
| Pepperstone | $0 | From 0.0 pips | Free | $0 |
| FP Markets | $100 | From 0.0 pips | Free | $0 |
| AvaTrade | $100 | From 0.13% | Free | $50 after every 3 consecutive months of inactivity |
Assets
| Best Automated Trading Platform Australia | Stocks | Forex | Crypto | Commodities | Indices | ETFs | Options |
|---|---|---|---|---|---|---|---|
| IBKR | Yes | Yes | Yes | Yes | Yes | Yes | Yes |
| eToro | Yes | Yes | Yes | Yes | Yes | Yes | Yes |
| Pepperstone | Yes | Yes | Yes | Yes | Yes | Yes | No |
| FP Markets | Yes | Yes | Yes | Yes | Yes | Yes | Yes |
| AvaTrade | Yes | Yes | Yes | Yes | Yes | Yes | Yes |
Our Expert Opinion about Automated Trading Platforms
The comparison tables above have highlighted what you can expect from the best-automated trading platforms in Aussie Land. But there’s more you should know before making any critical decisions, like signing up with a specific service provider and speculating with your money. Our experts have covered the most crucial information below after conducting thorough research and evaluation. Let’s dive in.
1. Interactive Brokers – Overall Best Automated Trading Platform
Interactive Brokers is at the top of our list of the best-automated trading platforms in Australia. This service provider’s clients have access to an unmatched product range, including tens of thousands of stocks, ETFs, spot currencies, and more. The platform’s impressive selection of instruments makes it a fitting option for active traders who prioritize diversifying with different assets, implementing diverse strategies, and trying out new products regularly.
If you are a seasoned trader searching for a platform with powerful tools, look no further than IBKR. Despite hosting, this broker has provided multiple top-tier solutions. The first one is IBKR GlobalTrader, a platform that puts countless markets in the palm of your hands, including stocks and options.
Trader Workstation is next on the list of fantastic trading platforms provided by Interactive Brokers. This one is specially designed for pros, with features and functionalities ideal for traders who need flexibility and power. Other solutions are offered to IBKR users, including IBKR Desktop and IBKR Mobile.
Since IBKR offers solutions ideal for seasoned pros, does that make it unfit for beginners? Absolutely not. This service provider has also factored in the needs of newbie traders and provided the standard necessities. They include a plethora of educational resources, multiple platforms with beginner-friendly interfaces, and excellent support service.
Interactive Brokers
✔$0 minimum deposit requirement
✔No account inactivity fees
Pros & Cons
Fees
Trading Assets
Pros
- No minimum deposit
- Zero inactivity fees
- Powerful trading platforms
- A broad range of educational products
- Competitive spreads and commissions
- User-friendly interface
Cons
- Doesn’t support third-party platforms
- Higher fees for low-volume traders
After conducting thorough research and extensive assesments, we can confidently categorize Interactive Brokers as one of the most affordable service providers out here. As we’ve already mentioned, this company has no minimum deposit requirement. Plus, it allows traders to fund their accounts with payment methods like ACH and wire transfer at no additional cost. We also highly recommend IBKR because, unlike other brokers, it doesn’t require traders to pay inactivity fees for dormant accounts.
Here’s an overview of the Interactive Brokers fees and charges our team unearthed during our evaluation and exploration:
| Type | Fee |
|---|---|
| Account opening and maintenance | $0 |
| Deposit | $0 |
| Withdrawal | Yes |
| Inactivity | $0 |
| Overnight charges | Yes |
| Currency conversion | 0,5% |
2. eToro – Best Automated Trading Platform for Australian Newbies
During our exploration, we discovered multiple factors that make eToro the most beginner-friendly platform in the Land Down Under. For starters, eToro has simple trading platforms with exciting features tailored with both newbies and pros in mind. The platform has intuitive interfaces that facilitate quick navigation and reduce the learning curve by a significant margin.
Beginner-friendly platforms aren’t the only elements that eToro offers to newbies. The service provider has a top-class online academy with everything you need to get started and build a thriving trading career. The range is impressive, from hundreds of guides to lessons and courses for all levels of traders, including beginners, intermediates, and experts.
And don’t worry about asset range because eToro has it all. Partner with this broker today and get unparalleled access to over 6,000 financial instruments. You’ll have the opportunity to trade 5,000+ stocks from diverse companies, like Amazon, Google, and Meta, as well as 600 popular ETFs, such as RSP, MBB, and ESGU. Other assets that will also be at your disposal include
Are you interested in investing alongside your trading adventures? No problem. With eToro, you can purchase and invest in a wide variety of stocks, from Tesla, Netflix, and Walt Disney to easyJet, ASOS PLC, and Gilead Sciences Inc. You can also acquire crypto like Bitcoin and Ethereum as well as stake the supported digital assets and earn returns.
But what if you have zero experience? That shouldn’t be a problem. Of course, your starting point should be eToro Academy. That said, while learning the basics, you can use this broker’s social and copy trading/investing features to trade/invest and earn returns.
eToro
✔ User-friendly trading platform
✔ Over 6000 trading instruments
Pros & Cons
Fees
Trading Assets
Pros
- Competitive minimum deposit
- Thousands of financial instruments
- Supports social and copy-trading
- Investment assets like stocks and crypto are available
- Hundreds of educational materials
- Users can start trading and investing with $10
Cons
- Some withdrawals incur a $5 fee
- $10 monthly fee for inactive accounts
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 |
3. Pepperstone – Best Automated Platform for Scalping Artists
Are you a scalping artist who likes to make quick profits multiple times a day? Sign up with Pepperstone today. This broker boasts ultra-fast execution speeds, with most orders getting executed within under 30 milliseconds. With the platform’s speedy execution, you will be able to take full advantage of the slightest price movements. Don’t fret over issues related to speed since this service provider has tier-1 Equinix servers that guarantee near-instant trade execution.
We also recommend Pepperstone to scalpers due to the broker’s tight spreads and commissions. We analyzed the accounts offered by this service provider and discovered a few mention-worthy facts. The most cost-friendly account for scalpers is Razor, which has sharp spreads of up to 0.0 pips. You can lower your costs with them while trading multiple currency pairs, including AUD/USD, USD/CHF, and GBP/USD. Razor account users also have access to other assets with low commissions and spreads, including commodities and indices.
Anyone who’s not contented with Razor can opt for a Standard account. Its main advantage is its users enjoy zero commissions and variable spreads. With this account, scalpers can also magnify returns with leverage as high as 1:500, a perk offered to professional traders registered with Pepperstone.
Pepperstone
✔24/7 support service
✔User-friendly and navigable platform
Pros & Cons
Fees
Trading Assets
Pros
- High execution speed and low latency
- No minimum deposit
- 1:500 maximum leverage
- Low spreads and commission+s
- Third-party platforms like MT4 and MT5 are supported
- Zero inactivity fees
Cons
- Higher leverage restrictions for retail traders
- Each trade executed via Razor attracts a commission fee
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.
4. FP Markets – Best Automated Trading Platform for Risk-Tolerant Australians
Suppose you are a risk-tolerant individual who isn’t afraid of obscene risk levels. You should consider trading with FP Markets. Why? This broker offers diverse high-volatility assets, including 60+ forex pairs like AUD/USD, 10,000+ share CFDs, and commodities CFDs. Rest assured that this broker supports one or more of your most preferred tradable assets.
In addition to offering the most sought-after instruments, FP Markets gives its users ample opportunity to amplify potential returns with industry-leading leverage options. As a retail trader, you can increase profitability with flexible leverages of up to 1:30 while trading forex pairs, metals, and commodities. But that isn’t a fixed threshold.
If your demands include much higher leverage levels, you are in for a treat. You can opt for a professional Pepperstone account, which allows you to exploit high leverages of up to 1:500. But to be eligible for this perk, you must fulfill specific requirements. For instance, your net assets must be worth a minimum of AUD 2.5 million. You must also ace a short online test tailored to gauge your familiarity with online trading.
We also have a high opinion of FP Markets because its users have access to multiple world-class trading platforms. The first ones that caught our eye are MT4 and MT5, infamous for their exceptional automated trading capabilities. FP Markets users can also take their experience to the next level with premium charting solutions like cTrader and TradingView. But your options aren’t restricted to these third-party solutions. You can also trade with FP Market’s mobile app or WebTrader, and revel in seamless experiences.
FP Markets
✔Low minimum deposit requirement
✔Hosts numerous learning and market analysis tools
Pros & Cons
Fees
Trading Assets
Pros
- Low spreads starting from 0 pips on Raw accounts
- Zero commissions on Standard accounts
- 24/7 professional support
- Tens of thousands of financial instruments
- Diverse platforms, including MT4 and MT5
- No inactivity fees
Cons
- $1000 Iress minimum deposit requirement
- Lower leverage for standard retail traders
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 |
5. AvaTrade – Best Automated Trading Platform for MT4 Enthusiasts
We urge MT4 enthusiasts to consider trading with AvaTrade. With this broker, you’ll have seamless access to your favorite platform. The best part is that, with an AvaTrade account and uncapped access to MetaTrader 4, you stand a chance to reap handsomely from automated trading.
MT4 is an outstanding platform that allows users to implement the best-automated trading strategies. It comes with a robust environment you can leverage whenever you need to create, test, and optimize different programs and strategies. For instance, you can use AvaTrade’s MQL4 Integrated Development Environment (IDE) to develop formidable Expert Advisors (EAs) and technical indicators.
AvaTrade also offers an exceptional environment where beginners can learn the basics, enhance their trading skills, and scale the ladder to success. So, if you are not yet fully acquainted with MT4 but are considering trading with it, don’t worry. Ava Academy, AvaTrade’s residential online learning program, will help you get started. Plus, you can learn so much from the hundreds of articles and guides this reputable service provider has published.
As an AvaTrade client trading with MT4, you’ll get uncapped access to Guardian Angel. This risk management tool is tailored to help you lower risk exposure and identify pertinent mistakes that can magnify future losses. Guardian Angel users get alerts related to issues like setting stop loss levels, margin calls, and trading volatility.
AvaTrade
✔Regulated by FCA
✔The platform supports algorithmic trading
Pros & Cons
Fees
Trading Assets
Pros
- Intuitive, user-friendly features
- Supports MT4 and MT5
- Offers automated copy trading through DupliTrade
- World-class learning materials
- Quality support service
Cons
- Higher spreads than its peers
- High inactivity fees
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 |
Automated Trading in Australia
Otherwise known as algo/algorithmic trading, automated trading is quite popular in Australia for the right reasons. For starters, no law is against this activity, and people are embracing it in droves because it reduces the negative impact of human error and has many other benefits. Moreover, many of the best brokers in Australia support it.
Most importantly, ASIC regulates the best-automated trading platforms in Australia. This top-tier authority sets and enforces rules and stipulations tailored to ensure Australian traders enjoy optimum protection and an unbiased trading environment.
Is automated trading for everyone? Not really. For starters, if you are not an adult, you can forget about this venture since Australian laws only allow people over 18 to partake. Furthermore, as experts in this field, we recommend automated trading to certain groups of people. That includes busy individuals with little time to spare, newbies, and pros who need enhanced efficiency.
To ensure you reap handsomely and avoid enormous losses, consider factors like your trading experience, time commitment, and ultimate goals when deciding if automated trading suits you.
How to Choose the Best Automated Trading Platform
Finding a trading broker is easy, considering thousands of options are available today. But finding the best-automated trading platform in Australia is another story. That is because some of the service providers don’t have the automated trading Australia feature. To exacerbate the issue, several malicious entities are running scammy and fraudulent platforms designed to trap and steal from innocent traders.
Considering all that, you can identify the best automated trading platform in Australia by focusing on the following:
Regulation and Security
Automated Trading Features
Ease of Use
Costs and Fees
Asset Variety
Trade with automated platforms regulated by ASIC in Australia, the FCA in the UK, and other respected authorities. In addition, ensure the provider you pick employs standard security measures like data encryption and segregation of funds.
Check every platform’s copy trading features and compare them to your needs and experience. Remember that service providers offer different options, such as automated copy trading, EAs, and algorithms.
If you are a novice or just like keeping things simple, find an automated trading platform with an easy-to-navigate interface. If you are a pro, you can go with a platform that supports full customization.
Some brokers have low costs, and vice versa. Before opening an account with a platform, evaluate transaction fees, spreads, and commissions. Also, remember to check overnight charges, inactivity fees, currency conversion fees, and other costs that traders often overlook.
Before signing up, ask yourself if the platform you want to trade with supports your preferred financial assets. An ideal option should have everything you want and an uncapped selection of assets for diversification purposes.
Risks to Trade with Automated Trading Platform
Automated trading comes with a range of risks you should know of and learn to manage effectively. Here are some of them:
- Technical failures: Trading platforms occasionally experience technical failures, which are often caused by poorly designed and managed platforms. Trade with reliable service providers to avoid negative repercussions like unexpected losses and missed opportunities.
- Over-optimization: This issue manifests when you excessively optimize your automated strategies to fit hit historical data. When that happens, your strategies perform impressively during backtesting and fail gloriously in live trading scenarios. To avoid this problem, don’t obsess over ensuring your strategies perform perfectly based on past data alone.
- Lack of human oversight: Automation can lure you into a state where letting algorithms and systems do everything seems like a good idea. Spoiler alert: that’s a terrible idea. An automated system can fail to respond positively to changing market conditions and catalyze enormous losses if the issue goes unchecked.
Pros and Cons of Automated Trading
Finally, review the pros and cons before diving into automated trading in Australia. They will get you in the right frame of mind to decide if working with automated strategies and systems is a good idea.
Pros
- Reduces the risks of emotional bias
- Makes 24/7 trading possible
- Facilitates unwavering application of strategies
- Saves time
- Most reputable brokers offer it at no additional cost
Cons
- Automated systems can perform poorly in unexpected market changes
- Technical glitches can cause missed opportunities and exacerbated losses
Conclusion
We have done all the heavy work by researching hundreds of service providers, testing the most reputable, and isolating the best, and we leave the rest to you. Use the factors we’ve discussed to identify a suitable service provider. Remember to check your preferred company’s reputation on Trustpilot, the App Store, and Google Play. Since your hard-earned money is at play here, you can’t afford to ignore or overlook anything, including the minutest details.
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