There has been a lot of exciting advancements in the world of AI, and businesses are taking advantage of this unique technology to advance their goals and objectives. Thanks to computation resources becoming more abundant, spurring the launch of powerful algorithms, we have no doubt that artificial intelligence is shaping major industries, with finance benefiting a great deal. Read on as we take you through everything you need to know about the best AI trading platforms.
What is the best AI trading platform?
By now, we are sure you want to know the best AI trading platforms. Good for you, we have selected some AI trading platforms that have done well in the last couple of years. But don’t just take our words for it. We strongly encourage you to go through the list, do your due diligence and opt for one that meets all your trading needs.
Also, we featured some well-established brands like eToro. This was done to give you more options, especially considering that all traders have different risk appetites. Plus, most of the AI trading platforms we will highlight in today’s post support a variety of financial instruments including indices, forex, cryptocurrencies, stocks, commodities, and CFDs. Read on for our list of best AI trading platforms.
eToro: Best Performing AI Trading Platform
eToro is one of the best AI trading platforms. Plus, the company offers traders looking to expand their trading strategies, excellent AI trading opportunities. Thanks to artificial intelligence shaping the future of finance, eToro has positioned itself to become one of the leading AI trading platforms in the industry today. We love the fact that the company offers wonderful trading services along with robust machine learning strategies.
eToro is one of the leading brands championing social trading (copy reading). In the last couple of years, eToro has risen to the occasion and now ranks as one of the most popular brokerage services globally. Thanks to many years of experience and innovations in the crypto space, implementing Artificial Intelligence trading wasn’t so difficult for the company.
For instance, MomentumDD, was the very first AI copy fund launched by the company. This brilliant tool scrutinizes through the account of the top 30 traders, deploys machine learning technology, and analyzes which of these traders will generate profit within a given period.
Other popular machine learning funds available on the platform include AITrader50, OutSmartNSDQ. Also, you can explore other trading strategies and AI provided by the platform. We love eToro because it is providing traders an opportunity to leverage innovative technology to advance their trading skills.
- eToro provides a sophisticated copy trading and social trading service.
- The company is regulated and has multiple licenses
- There are tons of options as per strategies enhanced by machine learning
- The company supports a variety of CFD assets including cryptocurrencies
- They charge reasonably low fees for their services
- They are the leading pioneers of innovative technologies like copy trading and social trading which leverages AI.
- Some of the machine learning copy portfolios they offer require traders to a have high minimum deposit in their trading accounts.
British Bitcoin Profit: Loved for its fast execution time
British Bitcoin Profits is one of the best AI trading platforms we have come across. The platform is highly recommended for investors seeking an AI trading platform that focuses on cryptocurrency. This platform makes cryptocurrency trading a breeze, making it a wonderful option for people aspiring to become successful bitcoin traders. Thanks to deploying AI technologies, British Bitcoin Profit has become the go-to platform for many traders.
Signing up for an account on this website is quick and hassle-free. Plus, they only ask for basic information when registering for an account. Another thing you’ll love about this platform is that they have a low minimum deposit of 250 euros, which is enough to get you started on your trading journey. And just to sweeten things a little more, British Bitcoin Profits doesn’t charge anything for registration. This puts them ahead of a lot of top brokerage companies.
- Highly satisfied customers
- The platform is popular and recognized by mainstream media
- They don’t charge users any type of registration fees.
- They have a minimum deposit fee of 250 euros.
- The company doesn’t currently have a dedicated mobile app
- Even though they offer machine learning algorithms, most of these tools are still in the experimental stage. Plus, creators can’t be validated.
Bitcoin Loophole: Best AI trading platform for profitability
Bitcoin Loophole ranks as one of the most successful AI trading platforms. The company supports a variety of cryptocurrencies that can be traded using AI trading bots and algorithms. Given its acclaimed profitability ratio, it’s easy to see why Bitcoin Loophole is the rave of the moment. Plus, the company boast of a seamless web application and of course, a dedicated customer support team that works around the clock, 24/7.
Besides offering smooth instructions in an attempt to create a low entry barrier for traders who aren’t tech-savvy, the company also offers a low minimum deposit, making it attractive for traders with varying budget options.
- The platform is absolutely free to use, so you don’t have to worry about paying a fee to get your accounts verified.
- They have a highly trained and dedicated customer service
- They have a low minimum deposit requirement
- The platform can be accessed via all electronic devices and operating systems
- Registering for an account is a breeze.
- They currently don’t have a dedicated mobile app
- Since the platform is pretty new, users may encounter technical issues and bugs when navigating the platform
- It’s important you test the robot carefully before deploying or taking any significant risks.
Bitcoin Profit: Best free AI robot
Bitcoin Profit is an insanely popular AI trading platform that supports trading services for crypto, especially based on robot strategies. Using this tool means delegating all the time and resources channeled into heavy analysis to computers. It also saves traders the tons of hours deployed for pattern recognition. That said, you’ll need to still supervise your trades, especially if you’re a proponent of risk management.
What we like about this platform is that they pretty much offer their services for free, making the company an attractive option for all traders, regardless of their trading skills. With no hidden fees, traders will keep all the profits made from deploying this AI tool.
- There are no hidden fees to worry about.
- Thanks to the robust performance of this AI trading platform, crypto trading is becoming more attractive by the day.
- They provide a demo trading feature. This is a great tool to test the performance of their AI technology.
- They have a highly responsive customer service team.
- Some of the features available on this platform can be quite confusing, especially for newbies.
- Withdrawals can take a day or more to be processed.
Bitcoin Champion: Best Bitcoin AI trading platform for beginners
Bitcoin Champion provides a quality AI trading platform for anyone interested in investing in bitcoin, cryptocurrencies, and forex trading. Using this tool for all your trading activities will give you an edge over people trading the market manually. And the reason is that the tool leverages powerful AI technologies and sophisticated computation-based decision marketing strategies guaranteed for success.
Even though they currently don’t have a dedicated mobile app, the company ensures that their web-based trading tool is easy to use, allowing investors to take advantage of its unique tool.
- The platform is beginners friendly.
- Bitcoin Champion leverages sophisticated AI technology
- Delivers insanely high profits to traders
- Quick trade execution and fast web application for a seamless experience.
- Like some of the trading applications we have talked about, Bitcoin Champion also doesn’t have a dedicated mobile app.
- It isn’t as popular as other brokerage firms like eToro.
- Since cryptocurrencies aren’t yet fully regulated, there is every likelihood that the platform isn’t regulated too.
Bitcoin Era: Best Bitcoin AI platform in terms of performance
If you are looking for a highly reliable AI trading platform that lives up to its hype, you’ll not be disappointed to give Bitcoin Era a try. This robust tool is reputed to deliver high profitability trading strategies. Though this tool comes with considerable IT risks, it is still a brilliant tool for anyone who wants to trade the crypto market profitably.
- The tool is easy to onboard and use.
- Delivers high profitability
- Remarkable customer support services
- Quick and hassle-free withdrawal process.
- This platform isn’t very popular yet
- There are a lot of technical aspects of the tool that poses considerable risks.
- They don’t seem to have a regulatory license just yet
- AI trading can be pretty risky, so use this platform with caution.
What is AI Trading?
If you’re just hearing about AI trading, then we are sure you want to know exactly what it means. To start with, Artificial Intelligence (AI) trading refers to when crypto, stocks, forex, and other CFDs are traded without any human interaction. Simply put, AI trading refers to trading using bots. These unique trading bots are designed to analyze millions of data points, patterns, markets sentiments, and more within minutes. Also, they are configured to execute trades automatically on traders’ behalf.
While trading bots are deployed by a lot of traders looking to take advantage of the many opportunities in the market, many hedge funds are still yet to fully deploy trade automation powered by Artificial Intelligence. And the reason is that, sometimes, these tools aren’t perfect.
That said, the deployment of AI in trading is proving to be worthwhile. On the one hand, it saves traders a lot of time that would have been deployed to manually analyze the market and search for patterns. AI algorithms have proven to help traders choose top-performing stocks and save them a lot of time in the process. Not just that, these brilliant trading options allow traders to take optimal decisions.
While the automation in the trading industry has been gaining momentum, the covid-19 pandemic significantly impacted the use of AI for trading, especially with retail investors finally seeing the potential in these tools. Without mincing words, AI trading robots can give stable and recurring returns, especially if the machine learning algorithm is correctly trained and deployed properly. Another aspect of AI trading that is gaining massive attention is copy trading and many platforms are already implementing it as part of their trading services.
How does AI trading work?
Like we mentioned earlier, AI trading is a unique system of trading that leverages powerful computer algorithms, which uses complex mathematical formulas to analyze data and execute trades automatically. While traders have the option to purchase a trading bot, we have also listed some AI trading services in today’s post that are free of charge.
And just so you know, traders can also build their own trading bots. Nevertheless, that requires advanced technical skills. This is why most traders prefer buying a trading bot or subscribing to the services of an AI trading platform.
AI bots usually work in three distinct ways: Signal generation, risk analysis, and trade execution. We will expound on them shortly.
- Signal Generation: During this first stage, the robot generates trade signals after analyzing markets data, charts patterns, and more.
- Risk allocation: This second stage is pretty important as the tool allocates risk based on predefined information set by the trader. Let’s say, for instance, a trader has previously configured the bot not to use more than 2% of the capital in one trade, the AI trading tool will take this into cognizance when executing any trade.
- Trade execution: After the initial two stages of signal generation and risk allocation are complete, the robot proceeds to execute trades automatically. Not just that, the tool is also configured to leave the market at certain points.
That said, keep in mind that different AI trading strategies work differently, so there is no one size fits all. So before opting for any robot, make sure you know how it works and if it meets all your trading requirements.
Are there any benefits and risks associated with using AI trading platforms?
There are tons of amazing benefits that come with using AI trading platforms, and just so you know, the benefits of these remarkable tools greatly outweigh the risks that come with deploying AI trading algorithms to your trades. Nevertheless, AI trading algorithms still require caution, attention, expertise, and above all, proper risk management.
Benefits of using AI trading platforms
Emotionless Trading: A lot of traders lose money trading the crypto or forex market because they attach too much emotion to investment, most times because of the fear of missing out (FOMO). But by deploying AI trading platforms, traders can kiss goodbye to the risks of irrationality.
Machine Learning: Machine Learning is a brilliant statistical advancement where algorithms are able to make informed decisions and learn by themselves. With this feature deployed within AI trading platforms, automated trading strategies are able to perform better over time, especially if they are coded correctly.
Big Data: There is no doubt that humans poses impeccable knowledge and technical capabilities. Unfortunately, we have limits that machines don’t. With machines able to analyze billions of data within minutes, humans can’t perform at such a rate. This is why AI algorithms are able to analyze the market better than humans, and in record timing too.
Risks associated with AI trading platforms
Exchange executions: AI trading platforms are able to execute trades for a specific stock or crypto-asset based on the exchange that supports them. Also, if you encounter issues like wrong price feed or price mismatch, the algorithms may not work correctly. This is why we recommend working with an established exchange. Also, it’s important to double-check and confirm that the price feed is accurate.
Risk of hacking: One of the biggest risks of trusting computers to handle your trades is the fact that your accounts can get hacked. Not just that, your API and private keys can also get stolen, which can cause significant risk. However, if the custody of an account or wallet is solely controlled by an exchange, your account may be safe since most of these exchanges deploy powerful security features to protect investors’ funds.
Error in Algorithm: Generally, these trading bots use powerful algorithms to predict the market and make profits. But guess what, algorithms aren’t always perfect as they could sometimes have issues. Unfortunately, this can cause significant losses.
What kind of assets can I trade on AI trading platforms?
One thing we sincerely like about AI trading platforms is that they support a variety of assets you can trade right away. Read on as we take you through some asset classes supported by popular AI trading platforms.
Stocks: Many AI trading platforms support stocks. To this end, you can trade your favorite stocks on most of the established AI trading platforms. When deployed to trading stocks, AI trading platforms deliver exceptional results and profits while allowing traders to trade seamlessly without emotion.
Cryptocurrency: Crypto trading is insanely popular. And considering the volatility in this market, we are sure you aren’t surprised. But since the market is available 24 hours, it can be pretty challenging to enter and exit the market consistently. That’s why we strongly encourage deploying innovative technologies like AI trading platforms, which have been engineered to give you an edge.
Forex Trading: Just like crypto trading, forex trading is also highly volatile. And that’s what makes it attractive. Because of the volatility in the forex market, many traders are opting for AI trading platforms as it gives them an edge. From analyzing the market to executing trades to closing your positions and cutting down losses, AI trading platforms are coded to handle all trading operations.
CFDs: Most AI trading platforms provide customers with an option to explore CFDs ( contract for differences). Just so you know, CFDs are pretty popular with short-term traders and that’s because CFDs allow traders to trade the direction of a particular asset.
Do AI trading platforms charge commissions
Because AI platforms have everything you need to execute successful trades, it does make sense that they charge users commissions for providing highly technical services. And to be clear, there are basically two types of fees charged by AI trading platforms.
Flat Fee: This is most times charged as a monthly or annual subscription fee for using the services provided by AI trading platforms. Any time you fail to pay the fees, what happens is that you’re restricted from accessing the features on the platform.
Commission Fee: Besides the monthly or annual fees charged by AI trading platforms, AI trading platforms also charge commission fees. While subscription fees are usually fixed, commission fees vary as per the number of trades placed by a trader.
AI trading fees: On top of the flat fees and commissions charged by AI trading platforms, AI trading platforms also charge traders extra fees on deposits and withdrawals. Also, let us quickly add that some platforms charge trading fees based on the profits accrued.
Let’s say for instance a particular platform charges users 0.05% on each trade executed. What this means is that a trader has to pay 0.05% on every buy or sell trade performed. Before you use any AI trading platform, we strongly encourage doing your initial research to understand the fee structure of such a platform. Now compare everything to the services provided by the platform and see if it’s worth opening an account with them.
Minimum Deposit Requirement: There are many AI trading platforms that don’t charge users any type of monthly or subscription fee. Instead, they require users to open an account with a minimum deposit. For instance, a lot of popular AI trading platforms like eToro require traders to fund their accounts with a minimum deposit of $250.
What you should look for when choosing an AI trading platform
There are a couple of factors you should always consider before choosing an AI trading platform and we will take you through some of them.
Spreads and Commission: Spreads and commissions charged by AI trading platforms are some of the things you should keep an eye out for. If you opt for a platform with higher spreads than others, you’ll end up paying more charges on every buy or sell trade executed.
Leverage: AI trading platforms are known to offer traders high leverage opportunities. This is to woo them to the platform. With leverage, traders have the opportunity to make huge profits even though their capital or investment is small. Nevertheless, leverage trading isn’t all glitz and glam and that’s because if your trades don’t go as planned, you’ll make significant losses as well.
Customer Support: When choosing an AI trading platform, you want to go for a brand that offers robust customer support services. Most AI trading platforms with efficient customer support enjoy a lot of patronage from traders looking for a broker with a highly responsive customer support team.
On the flip side, a platform with poor customer support usually doesn’t get a lot of interest from traders. So before opting for any AI trading platform, do your research about your preferred platform. Trust us when we say this would save you a lot of headaches.
Regulation: Another important feature that is often neglected by most traders is considering the licenses a platform holds. Before signing up to any platform, make sure they are fully licensed by the right regulatory bodies.
Research and Technical Analysis Tools: A good AI trading platform usually features all the right tools for technical and fundamental analysis. These tools help traders make accurate analyses before placing any trade. However, if you opt for a platform that offers auto trading strategies, you won’t need any of these tools.
There has been a massive demand for Artificial Intelligence technologies in the last couple of years. Thanks to the advancement in the AI sector, we have seen this technology deployed to different industries including self-driving cars, robotics, entertainment systems, medical applications, and more.
Today, AI technologies are very popular in finance and trading, especially as more traders opt for tools that take complete control of all trading activities. With AI technologies deployed for trading, more traders have started making insane profits despite the risks that come with trading.
If you’re interested in trading and want to be successful at it, you’ll not be disappointed to give some of the AI trading platforms highlighted in today’s post a try. Plus, you get seamless access to cutting-edge trading strategies.