ln the forex market's early days, traders relied heavily on their own knowledge, expertise and intuition to make trading decisions. This often involved spending long hours analyzing charts, following news events, and manually executing trades. Robot Trading has had a transformative effect on the forex and wider finance industry.
By eliminating the emotional aspect of trading, forex robots consistently apply profitable strategies and capitalize on opportunities faster than any human could. The efficiency of trading bots has intensified forex market activity - algorithmic trades now account for over 75% of volume on major currency pairs. So now, let’s review the 10 best trading robots so you can start automating!
The 10 Best Trading Robots in 2024
Pionex - Leverage This Powerful Trading Bot With Automatic Buy/Sell Orders
Kucoin - Take Advantage Of Trading Robots On New Tokens Before They Go Mainstream
OKX - Solid Forex Trading Bot To Maximize Your Gains
Binance - The Leading Exchange In Europe With Mighty Trading Bots
Kryll - Receive $7 When Signing Up To Use In This Trading Robot Marketplace
Octobot - A Solid Suite Of Trading Robots Are Waiting For You
Coinrule - Create Custom Trading Robots Based On Fellow Smart Investors
SMARD - Get Outstanding Results With These Strong Trading Robots
Bitsgap - Automate Your Forex Trading Bot To Yield Incredible Results Automatically
Tradesanta - Great Alternative With Some Of The Best Trading Robots
Top 10 Best Trading Robots & Forex Trading Bots
The growing ubiquity of the best forex robot is creating new dynamics in the forex ecosystem. Technical analyst jobs focused on spotting chart patterns are declining as the best forex robots take over using advanced quantitative strategies. Developers of profitable expert advisors are in high demand.
Going forward, the landscape looks decidedly robotic as computers displace slower and error-prone humans from the trading process. But, which trading robot should you use? With so many options available, making a decision can be a pain. Luckily for you, we have come up with the best 10 trading robots in 2024, so you can simply evaluate and choose the one that you feel is right. Let’s have a look!
#1. Pionex - Leverage This Powerful Trading Bot With Automatic Buy/Sell Orders
First things first, meet the best trading robots platform in 2024: Pionex is the top-tier forex trading bot platform, a paradise for investors looking to dive into the realm of automated trading. Pionex is a trading robot-powered crypto platform that simplifies automated trading for casual investors.
These trading bots can trade major cryptocurrencies such as Bitcoin, Ethereum, and Litecoin. Besides these significant coins, the forex trading bot platform also supports over 60 cryptocurrencies, including DOT, DOGE, SHIB, SOL, MATIC, ADA, and others. Not into crypto? Pionex's forex robots can be leveraged to trade stocks as well, so you have plenty of options.
The platform’s robots can automatically execute buy & sell orders for you. More than 10 free trading robots are available for you to use and customize your trading strategies, which include grid trading, margin trading and infinite grid, among many others.
What’s better is that the bots on Pionex require no subscription plan whatsoever. Yep, you got that right – they’re free! Yay!
Main crypto exchanges like Binance and OKX are integrated with Pionex to leverage liquidity on such exchanges. Trading fees go from 0.05% up to 0.15% per individual transaction, which will depend on the exchange you use.
Last but not least, Pionex's user interface is intuitive and nice, and it’s pretty straightforward to navigate. Not into Python or Java? Worry not, as no coding knowledge is required to get your trading robots going. Plus, if you ever need a hand, Pionex has 24x7 customer support if you have any issues when setting it up.
In summary, Pionex is a great platform for beginners wanting to dive into this world of robot Trading. With precisely 12 different robot trading options, we highly suggest giving Pionex a try if you want to leverage the power.
Pros
Use their ai trading platform on major crypto assets like BTC and ETH
Robot trading is hooked easily with Binance and other exchanges
Extremely easy to use bots
Offers a sweet mobile app
Cons
It’s still kind of a new platform, creating a name of itself
Limited FIAT trading, if you want to trade pairs like USD/EUR, AUD/USD look elsewhere
#2. Kucoin - Take Advantage Of Trading Robots On New Tokens Before They Go Mainstream
KuCoin, a popular name in the crypto space, offers an array of trading bots that can automatically execute trades on your behalf, as well as AI-generated trading signals and strategies. With its army of trading bots, KuCoin makes automated trading easy as pie. These forex robots effectively eliminate the need for you to be glued to the screen all day executing trades. No more!
KuCoin, the second in our list, supports a wide range of major cryptos including of course Bitcoin and Ethereum, as well as thousands of altcoins. Their bots have relatively low trading fees, ranging from a meager 0.05% to a maximum of 0.1% depending on the exchange you choose to operate. There are no subscription fees to deal with. Neat.
KuCoin currently offers three types of robot trading: their stellar “Grid Trading Bot”, the mysterious “Futures Grid Bot” and the flexible “Smart-Rebalance Bot”. These forex trading bots let you trade and take profit from major cryptocurrencies like Bitcoin, Ethereum and Tether.
We tested KuCoin's ai trading bots and were impressed with how easy they were to configure through the user-friendly bot interface. All the key parameters like order price, quantity, stop-loss limits etc can be defined without any coding. It really helps users mitigate the risks associated with market volatility by automatically investing a fixed amount of funds at regular intervals. This approach allows traders to average their entry price over time, reducing the impact of short-term market fluctuations on their investment.
Also, you can backtest your strategies to determine profitability before going live.
All in all, KuCoin's trading robots vastly simplify automated trading on crypto and forex. With top-rated bots, low fees and a huge selection of markets, KuCoin's bot marketplace sets the gold standard that other exchanges need to match. For hands-free crypto trading profits, KuCoin's robot trading is a must try!
Pros
Over 1K+ cryptocurrencies supported
Famous site to trade extremely low cap coins before they “explode”
Offers spot and margin trading
Low trading fees
Cons
Competes with other powerful decentralized exchanges, so make sure to check options
Not licensed in the US (at least at the moment of writing this article)
#3. OKX - Solid Forex Trading Bot To Maximize Your Gains
OKX (formerly OKEx) is a leading global cryptocurrency exchange that offers a wide range of trading services and products to its users. Launched in 2017, OKX has quickly gained a reputation for its robust trading platform, extensive selection of supported cryptocurrencies, and advanced trading tools.
One of the standout features of OKX is its support for trading robots, which can be a game-changer for both novice and experienced traders. These automated trading tools enable users to execute trades more efficiently, capitalize on market opportunities around the clock, and minimize the impact of emotional decision-making on their trading activities. It's worth noting that OKX's trading bots are primarily designed for cryptocurrency markets, and they don't directly operate in forex markets.
OKX offers bots tailored to different strategies - arbitrage, triangular arbitrage, grid trading, DCA, TWAP and more. The bots connect seamlessly with your exchange account to place and manage trades 24/7. You can even test run bots in a simulated environment before deploying them.
While most bots only work for crypto, OKX also offers forex bots that can trade major forex currency pairs like EUR/USD, GBP/USD and USD/JPY giving you much more versatility. This allows you to deploy automated strategies across both crypto and forex for diversified profits. For traders looking to maximize profits, these pre-coded algorithms automatically execute trades on your behalf based on market signals and customized trading logic without any manual intervention. It’s absolutely a game changer.
We definitely liked how easy it was to set up the OKX platform without needing any coding knowledge through their intuitive bot interface. Once configured, the bots will run indefinitely unless paused. You can monitor real-time performance through OKX’s dashboard showing all trades executed and resulting P&L.
At just 0.1% per trade, OKX’s trading fees are hugely competitive especially considering there are no added subscription charges for the bot functionality. With over 500 currency pairs and fractional forex trading available, OKX ensures ample trading opportunities.
Pros
10K+ crypto assets available for trading
Extremely fast transactions through Web3 integration
24/7 customer support available through email & chat
You probably saw OKX in Formula 1’s McLaren car, so it is very well known
Leverage their ai trading bots for crypto as well as forex trading bots
Cons
Trading robots supported only when using OKX’s own exchange platform
Limited AI-powered trading signals and strategies compared to some competitors
#4. Binance - The Leading Exchange In Europe With Mighty Trading Bots
As the world’s largest crypto exchange by trading volume, Binance needs no introduction. With its extensive coin offerings, discounted trading fees and continual innovations, it's no surprise Binance has emerged as a global leader.
For traders looking to take their crypto investing to the next level, Binance offers a marketplace of pre-configured trading robots. Unlike many exchanges where bots require complex coding skills, Binance’s trading algorithms allow easy automation of trades as per defined strategies.
Binance trading bots include grid, dollar cost averaging, TWAP and other profit-driven algorithms. After linking your Binance account, you can backtest bot performance and customize parameters before deployment. They then execute automated trades 24/7 by intelligently reacting to market movements and technical indicators.
While Binance bots currently only support crypto trading, they can operate across 500+ coin pairs on the exchange - the largest variety in the industry. This presents ample opportunities to maximize gains. Maker and taker fees are an incredibly low 0.1% and 0.2% respectively. There are no added charges for using Binance’s sophisticated trading bots.
We especially like the DCA bot on Binance since it helps systematically accumulate crypto on dips in a hands-free manner. Just how cool is this feature alone! The bot dashboard neatly displays all past trades, current positions and P&L reporting for full transparency. Technical and fundamental triggers can also be set to guide the best trading robot decisions.
As a wrap up, Binance’s secure and regulated exchange combined with its feature-rich robots make it the go-to option for both new entrants and advanced crypto traders. Automating previously manual processes, Binance’s bots allow effortlessly executing dynamic crypto trading strategies for better profitability.
Pros
The most used exchange worldwide (so you can trust it)
Supports more than 10,000 cryptocurrencies and pairs to trade
Integrates with emerging Web3 technologies to offer you a secure Hot Wallet
Cons
Not available in the US
Their Smart Signals program is a paid service, whereas other platforms offer it for free
KYC process is required in order to register and use the exchange
#5. Kryll - Receive $7 When Signing Up To Use In This Trading Robot Marketplace
Kryll differentiates itself from other crypto platforms by providing easy-to-use yet powerful robot trading platform even for non-tech savvy users. Kryll's drag-and-drop bot creator interface makes building automated trading strategies remarkably straightforward.
Users can utilize pre-made indicators and market signals to configure bots for spot trading, arbitrage opportunities, portfolio rebalancing and more. Without needing to code, triggers and actions can be combined to automate profitable trades 24/7. Strategies can even be backtested using historical data before going live.
Once built, Kryll bots can scan and trade across most major crypto exchanges like Binance, Coinbase and KuCoin to capitalize on price differentials and technical patterns automatically. The platform supports all top cryptocurrencies including Bitcoin, Ethereum, USDT, BNB, XRP etc. as well as DeFi tokens and stablecoins.
While currently focused on crypto, Kryll plans to expand into forex markets allowing bots to trade currency pairs as well. This will further boost profit-making opportunities for traders through diversification. So, forex robots are on the roadmap for Kryll.
There are various pricing tiers depending on usage levels. While basic trading bots are free, advanced robot trading costs about $15 per month. Exchange trading fees are extra as per individual exchanges. Despite the charges, Kryll bots can deliver very strong ROI of 300-500% per year by reliably growing portfolios.
For crypto investors preferring hands-off automated trading, Kryll is a top choice thanks to its beginner-friendly bot creator interface combined with support for numerous exchanges and coins. Even trading novices can design, test and deploy profitable bots through Kryll to elevate their crypto investing game.
Pros
Wide variety of cryptocurrencies supported to leverage robot trading
It’s free, with premium options available at affordable prices
Cons
Advanced investors can find Kryll underwhelming compared to other platforms
It is not as popular as other exchanges like Binance, OKX or KuCoin
#6. Octobot - A Solid Suite Of Trading Robots Are Waiting For You
For traders seeking an all-in-one automated trading solution, Octobot delivers an impressive platform. Octobot allows building, testing and executing custom crypto trading strategies without any coding required through its intuitive bot interface.
Once set up, Octobot trading bots can scan prices across exchanges in real-time and autonomously place buy/sell orders based on technical indicators and trends as well as market events. This hands-free approach consistently maximizes profits around the clock.
Octobot currently focuses exclusively on cryptocurrency trading across both spot and derivatives markets including margin trading and futures. The platform supports all major coins like Bitcoin, and Ethereum but also altcoins like DOT, ADA, XRP, SOL and stablecoins BNB and USDT.
While Octobot does not facilitate forex trading at present, its roadmap reveals plans to incorporate integrated fiat on/off ramps and eventually support forex pairs as well. This will allow tapping into combined opportunities across both crypto and forex markets using its powerful bots.
Pricing is based on the number of exchange connections required per month. While the first exchange is free, additional connections cost $15 each monthly. Exchange trading fees also apply separately. Despite the charges, Octobot promises very high returns on investment of well over 300% per year.
For crypto investors looking for simplified algorithmic trading, Octobot delivers with its easy bot creation tools, backtesting capabilities, support for various exchanges and coins. As it expands into forex, Octobot has the potential to become an industry leader in multi-market automated trading.
Pros
It’s free
More than 200 crypto tokens supported
Personalize your trading robots according to your preferred trading strategy
Monitor the performance in real-time
Cons
The free plan has a monthly limit of trade executions
It might take some time to get used to the interface and how they work
#7. Coinrule - Create Custom Trading Robots Based On Fellow Smart Investors
It’s now time to review Coinrule, a user-friendly cryptocurrency trading platform that enables users to create and deploy custom trading robots without any coding knowledge. Founded in 2018, Coinrule has gained popularity among traders for its intuitive interface, powerful trading automation tools, and a wide range of supported cryptocurrencies.
Coinrule's standout feature is its easy-to-use trading robot builder. How does it work? In a nutshell, users can create custom trading strategies using a logic system of “if this happens” > “do this”. That said, users can choose from a variety of pre-built trading templates if it sounds complicated to you, or explore and build their own strategies by combining different trading indicators, signals, and actions. Coinrule's bots are primarily designed for cryptocurrency markets, and they do not directly support forex trading.
Coinrule supports a wide range of cryptocurrencies, including major coins like Bitcoin, Ethereum, and Litecoin, as well as many popular altcoins and DeFi tokens. The platform is integrated with several leading cryptocurrency exchanges, such as Binance, Coinbase Pro, and Kraken, allowing users to connect their existing exchange accounts and manage their trades directly from Coinrule's interface.
To use Coinrule's bots, users need to create an account on the platform and choose a subscription plan. Coinrule offers several plans, ranging from free to premium, with each plan providing different levels of access to platform features, such as increased trading volume, advanced trading strategies, and priority support. The platform does not charge any trading fees, but users will need to pay for their chosen subscription plan.
Coinrule's interface is designed to be intuitive and easy to navigate, making it accessible to both beginners and experienced traders. Backtesting is another robust feature of this platform, allowing users to backtest their trading strategies using historical market data to evaluate their performance before deploying them in live trading. In the same line, their “demo trading” lets users test their bots using simulated trades, enabling them to fine-tune their strategies without risking real capital. That’s a really cool feature, so you can simulate before actually incurring some losses.
Coinrule offers a mobile app for iOS and Android devices, enabling users to manage their bots and monitor their portfolio on the go. Plus, they take strong security measures such as encryption and two-factor authentication to ensure a secure trading environment.
In conclusion, Coinrule is a user-friendly and powerful cryptocurrency trading platform that offers traders the ability to create and deploy some of the best trading robots through an intuitive interface and a wide range of supported cryptocurrencies. While Coinrule's trading bots do not directly support forex trading, they provide significant value for those involved in crypto trading.
Pros
It’s free
Tons of crypto assets available to trade automatically
Customize your trading strategies and execute them with their robot trading features
Extremely easy to use, nice design
Cons
A subscription plan is needed to fully experience their potential
Limited customization options for the more experienced trader
#8. SMARD - Get Outstanding Results With These Strong Trading Robots
Still looking for options? That’s great, because we’ve got another one worth looking into. SMARD is an innovative automated trading platform for crypto investors seeking simplified, profitable algorithmic strategies without complex coding requirements. Its cloud-based trading robots can scan prices across multiple exchanges in real-time, identify technical indicator divergences as well as arbitrage opportunities, and automatically place corresponding buy/sell orders to execute predefined strategies. Instead of manual intervention, these self-learning bots continuously optimize their trading logic based on captured data. That’s how you do it!
Currently, SMARD focuses exclusively on the cryptocurrency market with support for all major coins including Bitcoin, Ethereum, Ripple as well as smaller cap DeFi tokens and stablecoins across leading exchanges like Binance. Forex trading is not accommodated presently but may be incorporated in future product integrations.
Pricing on SMARD consists of a free starter plan for basic robot trading, while increased exchange connections and advanced features require premium monthly plans ranging from $14 to $50 depending on usage levels. The subscription charges give access to an extensive array of premade trading algorithms so users can avoid complex coding. Combined with exchange trading fees, costs can add up but SMARD's high-performance bots assure significant ROI well over 300% yearly that vastly outweigh expenses.
For crypto traders seeking simplified, hands-off automated trading with machine learning-enhanced bots optimized for profitability across market conditions, SMARD presents an innovative solution. The platform continues gaining traction among novices and experts alike looking to maximize crypto earnings.
Pros
Manage risk efficiently through stop-losses and trailing stops settings
All trading robot parameters are already configured for you – simply choose and move on
Pays 10% of profits acquired every month
Cons
May require some investment, so if you don’t have money to throw in, may not be for you
Supports fewer cryptocurrencies than other platforms – check if your pair is supported
Average user can find value, but the advanced user may not find a differential worth switching for
#9. Bitsgap - Automate Your Forex Trading Bot To Yield Incredible Results Automatically
Have you heard about Bitsgap? This crypto trading automation platform offers one of the best automated crypto trading platform with automated trading robot capabilities tailored for both novice and advanced traders. It does so through a sleek interface that allows users to connect multiple exchange accounts like Coinbase, Binance and KuCoin to monitor prices, portfolio performance as well as build custom bots through an intuitive drag-and-drop bot constructor. Without requiring coding expertise, triggers like RSI, moving averages can be configured to automatically execute orders for dollar cost averaging, grid trading, arbitrage and other strategies.
At the minute, the platform exclusively supports crypto trading, with over 5000 coins and 250+ exchanges integrated. Top cryptos like Bitcoin, Ethereum, Chainlink, Bitcoin Cash, Ripple and Solana are covered along with DeFi tokens and stablecoins like USDT. Forex pairs are not yet supported, but enhancements are continually introduced, so it is expected to get forex trading bots.
So, how much does it cost? Bitsgap offers free account options as well as paid monthly subscription plans that go from $19 to $110 based on usage levels and required features. Exchange fees apply separately. Despite the costs, Bitsgap users benefit from the platform's ease of use, wide market access and automated trading algorithms to achieve high returns on investment.
When you inspect Bitsgap, you will find that their grid bot trading robot strategies have realized yields upwards of 130% on capital deployed through Bitsgap's advanced automation. As crypto adoption accelerates, Bitsgap has fast emerged as the go-to solution for executing complex trading tactics flawlessly. So, while right now Bitsgap's does not support forex trading bots, they provide significant value for those involved in crypto and robot trading.
Pros
Try for free (7-day free trial) and then choose a plan from $19
High amount of cryptos supported (over 5,000 tokens)
Customize your trading robot to maximize return on your investment
Cons
Does not allow for forex trading at the moment, but stocks are supported
Less active community than other platforms
#10. Tradesanta - Great Alternative With Some Of The Best Trading Robots
Oh, we’ve come to the end of our best trading robots ranking! It happened so fast, but before closure we must mention Tradesanta, a platform with a variety of trading services to help you make the most of your cryptocurrency investments.
With Tradesanta, you can take advantage of their cutting-edge AI trading bots to automatically execute trades based on pre-set criteria: diversify your portfolio however you like thanks to their wide crypto currencies support.
One of the things we really loved about Tradesanta is their design. The interface is extremely user-friendly, and it looks neat. Whether you're a beginner or an experienced trader, you'll find everything you need to get started without a hassle. And if you ever have any questions or need help with anything, their customer support team is always available to assist you.
So, like we mentioned before: when it comes to cryptocurrencies supported, Tradesanta covers a lot of bases. They currently support Bitcoin, Ethereum, Litecoin, Ripple, Dash, and Monero, with plans to add more in the future. This means you can invest in a wide range of popular cryptocurrencies and take advantage of their potential for growth.
Another thing we appreciate about Tradesanta is their focus on transparency. They provide clear information about their ots, fees, and other important details upfront, so you can make informed decisions about your investment.
Tradesanta offers two options: the Automated Trading Robot and the Advanced Trading Robot. The Automated Trading Robot is designed for beginners and can be set up to automatically execute trades based on certain criteria. The Advanced Trading Robot is more advanced and can be customized to fit your specific trading strategy, so if you know what you’re doing, this is the one you want.
One thing to note however, is that Tradesanta does require a subscription to use their robots. That said, their pricing is very competitive, and they offer a free trial to let you try out the platform before committing to a subscription. Cool beans!
Pros
Very nice design and extremely easy to use - very engaging
Offers a free plan to get started and try its features without paying
Their basic / pro plans are reasonably priced
Allows for crypto trading as well as stocks
Cons
Forex is not supported yet, so no forex trading bot options
If you are used to other robot trading platforms, you might find no reason to give it a try
Not as renowned as other platforms in the market
Robot Trading – How We Chose The 10 Best Trading Robots
When choosing the best trading robots for forex & crypto investments, several critical criteria must be considered to ensure optimal performance and security. Key among these is the robot trading track record and performance history, which can offer insights into its reliability and potential profitability. Customization and control is paramount, as traders have varying strategies and risk tolerances.
A good trading robot should offer a balance between automated operations and user inputs, allowing traders to adjust strategies according to market conditions. Furthermore, the security features of the robot cannot be overstated; with the increasing sophistication of cyber threats, ensuring that your investment is protected is essential. Transparency also plays a crucial role in the selection process.
Our Final Thoughts about AI Trading Platforms & Bots in 2024
The rapid expansion of AI trading platforms also means the market is becoming increasingly saturated with options, making the due diligence process more critical than ever. So we wanted to aid in your search for the best trading robots of 2024. As these technologies evolve, they promise to further democratize trading, making it more accessible to a broader audience by lowering barriers to entry.
Frequently Asked Questions about AI Trading Platforms
Are trading robots really legit?
Indeed, trading robots do work. They leverage artificial intelligence to handle trading operations automatically, without the involvement of emotions, which frequently tend to make decisions harder.
What is the most accurate trading robot?
We recommend you try for yourself to find out the one that works best for your investment style, but Pionex is a solid choice with extremely positive win-rates.
Are trading robots profitable?
Oh yeah. Robot trading can actually outperform human traders since they rely 100% on data. No gut feelings and emotions involved. That said tho – some AI trading robots may not make profit every time, so DYOR before choosing.
How do AI trading platforms work?
These so-called trading bots have machine learning and advanced algorithms behind them to find the most profitable entry points based on price trend and price action.
Do all robot trading work for forex?
No, some trading bots are intended to trade crypto assets, which are more volatile and therefore offer more margins, but also greater risk. Be sure to know what assets you are investing in.
Disclaimer: The above is a contributor post, the views expressed are those of the contributor and do not represent the stand and views of Outlook Editorial.
