Automated trading has given many users back countless hours that were previously spent glued to monitors, yet despite the growing popularity, it is not simply a tick box implementation. There are plenty of platforms that will support your own custom bots and algos, and then there are plug and play models that provide a more simplistic experience.
Whichever method you choose, whether coding your own bot with MQL4, MQL5, or Python, or simply choosing the right portfolio or trader to copy, you will need an end broker that supports your plan.
If you are an auto trading beginner, you are probably going to be more comfortable with copytrading, or using an AI assistant with a broker like eToro to start with. The more adventurous among you may consider using Pepperstone to select one of the pre-made EAs or cBots available on MT4, MT5, or cTrader, or even code out your own.
We have reviewed the best AI and automated trading platforms Australia has available to users, and narrowed down the options to a few market leaders for various use cases.
| Best for | Our pick | Automation | Coding | Difficulty |
|---|---|---|---|---|
| Beginners | eToro | Copy trading | None | Easy |
| MT4 automation | Pepperstone | EAs | MQL4 | Medium |
| MT5 automation | Pepperstone/AvaTrade | EAs | MQL5 | Medium |
| Developers | Pepperstone + cTrader | cBots | Python/C# | Medium–High |
| AI-assisted trading | eToro | AI assistant/apps | None | Easy |
Types of Automated Trading
There are several types of automatic trading, including algorithmic trading, which uses mathematical models to execute trades; high-frequency trading, which involves completing a large number of trades in a short period; and social (copy) trading, which allows traders to copy the trades of successful traders. There are also EAs, cBots, and AI tools to add to the mix, giving a clear distinction between the more advanced, and more entry levels of automated trading.
Factors to consider before choosing an auto trading platform in Australia
- Security: look for a platform with robust security measures to protect your data and funds from cyber threats.
- Reliability: ensure the platform has a proven track record of reliable performance and minimal downtime.
- User interface: choose a user-friendly platform with a clean and intuitive interface that suits your trading style and preferences.
- Trading instruments: ensure the platform offers a variety of financial instruments that match your trading needs and strategies.
- Fees: compare the fees and commissions charged by different platforms to choose the most cost-effective option.
- Customer support: look for a platform that offers reliable customer support, including phone, email, or live chat, to help you address any issues or concerns.
- Regulation: choose a platform regulated by a reputable authority, such as the Australian Securities and Investments Commission (ASIC), to ensure compliance with relevant laws and regulations.
Autotrading is an excellent way for beginners or more experienced traders to capitalize on market opportunities in real time, and there are a range of providers and tailored or off-the-shelf platforms to assist you along the way. Depending on exactly how you would like to automate your trading, there are going to be different solutions that stand out.
Automate With Copy Trading
Copy trading is the first form of automated investing that most would have encountered, and the most simplistic to get your head around. To start copy trading, you effectively pick an existing account you would like to ‘follow’, or copy in this case, and then set the rules from there.
Being one of the easiest entries into automation doesn’t necessarily make this the right choice, as it involves handing off the decision making to someone else. If that is what you are looking for, this could be the perfect type of automation for you. If you are looking more for an automation platform that allows you to put your own strategies and plans into place, you can quickly skip ahead.
If copy trading sounds like it might suit your needs, here are some of the benefits. You can watch what some of the best performing traders are doing, and learn whilst you copy along the way. Then there is the time element that many want auto trading tools for in the first place, with the option to be very hands off. This gives the potential to generate returns without spending time conducting research and analysis, and without needing extensive market knowledge or experience.
It is important to note that copying other traders is very far from guaranteeing you a positive result. You can select the best performer over the past years, with a strategy that looks great on paper, yet markets do not reward any of those things. Shifts outside of the ordinary can hit even previously successful traders, so you will always want to keep your allocated funds to a level you are comfortable with.
Once you have decided that copy trading is right for you, you need to choose the right one to automate your trading. The best copy trading platforms will offer various customisation options, including the ability to set limits on risk, portfolio diversification, and selecting traders to copy based on their past performance. You will also want to make sure there are enough traders and strategies to choose from, with that usually resulting in a clear winner.
Best for Copy Trading – eToro
eToro made it’s name as a pioneer in social trading, and has continued to build on this with its copy trading features. With over 40 million registered users globally, eToro offers access to most types of financial instruments, including forex, stocks, cryptocurrencies, ETFs, and more.
eToro’s copy trading allows you to automatically replicate the trades of other traders, and offers the largest selection to choose from. This all comes in a very easy to use platform, one that has been built in a way that feels like many other social apps on the market. As far as usability, it is right up there with the best.
In addition, eToro offers a unique feature called the “Smart Portfolios” (previously known as CopyPortfolios), which allow you to invest in a diversified portfolio of assets managed by professional traders. This is a bit like a managed ETF, or a thematic fund, where you are automating the second stage of the allocation. The first stage here is you selecting the smart portfolio to invest in, the automation stage is where the portfolio manager is selecting where the funds are allocated.
eToro AUS Capital Limited ACN 612 791 803 AFSL 491139. Social trading. eToro does not approve or endorse any of the trading accounts customers may choose to copy or follow. Assets held in your name. Capital at risk. See PDS and TMD
MetaTrader 4 (MT4) is a popular platform for automated trading, with users either custom coding using MQL4, or using an existing EA. Being one of the most widely used trading platforms globally, there has been plenty already built within the MT4 ecosystem.
One of the key features of MT4 is these Expert Advisors (EAs), which are automated trading algorithms that execute trades based on pre-set rules and conditions. EAs can be programmed using the MQL4 programming language, enabling you to customise your trading strategies and test them on historical data. EAs can also be backtested and optimised, allowing you to fine-tune for optimal performance over time. Building your own EA is certainly a more complicated avenue to selecting an off the shelf EA, or copy trading, yet you have a lot more control.
If you are someone who has a clear trading strategy, or you want to copy a strategy you have found, MT4 could be the place to do it. There are plenty of guides on how to use MQL4, and using AI tools, you will be able to create these far more easily than in the past by providing clear instructions as to what you want.
The platform itself offers a range of advanced charting and technical analysis tools, making it customisable and adaptable to different trading strategies.
MT4’s interface is not the most user friendly in app form, yet the broad range of analytical tools, and the vast community of developers and traders make it an excellent platform for automated trading.
Best for MetaTrader 4 automation – Pepperstone
Pepperstone is one of Australia’s best auto trading platforms, and fully supports EAs on MT4. Having built a reputation as one of the best forex brokers in the country, offering its clients the popular MetaTrader 4 (MT4) platform comes as an expectation for those trading currencies.
With quite a number of brokers offering MT4, and supporting EAs, you need to dig a little deeper to find out why each one may stand out.
As far as automated trading, Pepperstone offers access to a suite of ‘Smart Trader Tools’ that allow you to start off the bat, with a minimum of fuss. There are 60+ EAs built in, it’s free to use, and you can use real-market pricing to test your strategies on MT4. You can also use the brokers API to plug in your own system (for the more advanced), along with support for algorithmic trading, and cTrader Automate.
Once you have a good EA, or a custom trading strategy set up, you then need the broker infrastructure to support you. This will things behind the scenes such as reliable (and rapid) execution, low latency, deep liquidity, and tight spreads, along with the instruments you want to trade of course. Pepperstone deliver across all counts.
Pepperstone has expanded the range of instruments substantially over the years, to include CFDs on shares, 24 hour US stocks, commodities, indices, and cryptocurrencies, aswell as a new suite of Perpetuals.
MetaTrader 5 (MT5) is a multi-asset platform designed for both manual and automated trading, and while the automated trading functions are similar to it’s predecessor MT4, they are not compatible with one another. That means that any EAs you have for MT4 will not work on MT5 without some tweaks.
MT5 uses MQL5 coding language, which potentially allows you to develop more complex and advanced automated trading algorithms. You will still find plenty of ready to use/buy EAs, and you can have an AI assistant convert your existing MQL4 code into MQL5, assuming you know how to cross check and test afterwards.
The technology underpinning MT5 is more advanced than MT4, with faster execution, and more adept at running robots or heavy tasks. You will also get access to more timeframes (21 vs 9), and a more precise operation once functional.
Another way in MT5 differs, is that depending on the broker, it could be configured for other instruments that are not CFDs. That means it is possible to offer stocks that are not CFDs on the platform, even if most brokers do not configure it that way.
If you are considering automating your trading using MT5, the pros and cons are broadly similar to MT4 above, in that there is a lot of pre-existing help and support on the market, yet there is still a learning curve.
AvaTrade – Great MT5 Choice
Whilst Pepperstone would still be our top choice for automating with MT5, for many of the reasons above, AvaTrade are another strong option to consider.
The broker are very well-established in the market for forex and CFD trading, and it’s MT5 offering is better than that of it’s MT4. You will gain access to an expanded instruments list of over 1,000 assets on MT5, compared to the average of 250 on MT4.
AvaTrade’s MT5 platform has advanced charting tools, analytical objects, and a built-in economic calendar, making it an excellent manual and automated trading platform.
Using AvaTrade, you can incorporate trading indicators into your automation system, allowing for a more advanced setup. You can also configure scripts for automating particular tasks, and link them into your own custom trading robot.
On the infrastructure side, AvaTrade offers fast execution speeds, multiple account types, and spreads that are competitive, albeit not market leading. This is a trusted alternative to our top picks, and one worthy of consideration.
Automate With cTrader
cTrader is a trading platform that has been gaining in popularity among traders in Australia. Automated trading is now conducted on cTrader Algo (previously cTrader Automate), which unlike MT4/5, uses Python, or C# programming languages. For anyone already familiar with coding, this can make the transition that bit easier, with easy integration via Visual Studio.
cTrader’s algorithmic trading features include something called cBots, which are effectively automated trading robots that execute trades based on pre-set rules and conditions. There is a solid range of guides on how to create cBots, backtest them, and get setup with an automated trading strategy in the cTrader algo library, found here. cTrader also offers advanced backtesting and optimisation tools, allowing you to test and fine-tune as you go.
Building on cTrader Algo feels a little more like using a modern software platform, and can be linked to external databases, or your own custom dashboards easier than some of the alternatives.
cTrader’s platform offers fast order execution, low latency, and a user-friendly interface, making it an excellent choice for automated trading.
Best for cTrader – Pepperstone
Pepperstone are out top choice as broker for cTrader automation, for many of the reasons earlier highlighted. With over 1,200 financial instruments, including shares, forex, commodities, indices, and now perpetuals, you can do a lot under one roof. The reality is, if you want to setup an automated trading system, and adapt the code for each of MT4, MT5, and cTrader, you can do all of it here.
You get all the excellence in execution, low latency, tight spreads, and deep liquidity as per the other trading platforms, and with no dealing desk.
Reliable, ASIC regulated, and typically one of the first in the market to offer new platforms. Then you have the tight spreads offered by Pepperstone that also make it an excellent choice for cost-conscious traders.
If you are planning to build out your own automated trading system in Australia, we would start here.
Seeking an alternative? Other ASIC regulated brokers offering access to cTrader include FP Markets, Fusion Markets, and IC Markets.
Automate With AI
Artificial intelligence technology is developing at breakneck speed and being applied to many different areas, including financial markets. AI trading takes algorithmic trading one step further by not simply following a predefined set of rules but adapting to changing market conditions and ideally, improving over time.
Much like an Expert Advisor trading robot, AI trading software can buy and sell stocks on your behalf. The difference is AI trading software will change its decision making process over time in order to try to optimise results, whereas an algorithmic trading bot will only trade using the rules it is given.
There are plenty of advantages of using AI to automate your trading strategy, yet there are also some downsides. AI can definitely process data much faster than any human could, yet the interpretation of that data is often the key part. You often have to put in a lot of effort up front in order to get your AI to pay you back over time. With the right inputs, and knowledge, you could have AI identify patterns and trends that may not be apparent to you as a mere human.
There are different ways of using AI in trading, from fully automating your trades, down to simply suggesting or flagging alerts your way. The latter end of the scale is more likely to be the safer option, at least until you have seen what is coming back at you over a period of time for approval.
There are some very interesting use cases for AI tools alongside your own trading, with Tradingview’s AI Chart Copilot proving to be particularly useful, when prompted correctly. Having AI support you with trading inside the chart can feel a bit like a superpower, although there are limitations, as with most things. Hallucinations in AI, whilst far less common than earlier models, remain a concern, yet over time this is likely to be far less of an issue.
This may well be the optimal period to be testing various AI tools and APIs inside your trading platform, continuing to build knowledge and confidence in their abilities before any more sustained deployment. That being so, there are some brokers who have already integrated AI assistants inside their platform, and those are worth a look.
Investing App With AI Built In – eToro
eToro have been at the forefront of trading innovation for close to two decades now, and when it comes to AI trading apps, they are right up there with the better ASIC regulated options on the market. With an AI investing assistant, an internal App suite, and one of few to have added an MCP so far, there is a lot to like.
Having launched Tori as an AI investing assistant for use inside the trading platform, the broker has not simply added an AI chatbot and called it a day, but put together an AI ecosystem that combines social trading, tools, automation, and conversational investing support in one app. Then the launch of the eToro App Store was another major step forward because it allows users to build, share and access applications directly inside the platform.
If you haven’t used it yet, Tori is eToro’s AI investing companion, and is designed to help you explore markets, understand your portfolio and interact with the platform through natural conversation. With access to Grok for real-time market sentiment, alongside contextual memory and Agent Portfolios, Tori is becoming more like a proactive investing layer than a simple assistant.
eToro AUS Capital Limited ACN 612 791 803 AFSL 491139. Social trading. eToro does not approve or endorse any of the trading accounts customers may choose to copy or follow. Assets held in your name. Capital at risk. See PDS and TMD
Best For AI Trading – Pepperstone
Having offered both Capitalise.ai, and TradingView integration, along with MT5, Pepperstone have been at the forefront of AI trading. The latest MT5 AI trading additions in July this year include bridges, the MetaEditor AI Assistant directly built in, and the ability to connect OpenAI, Claude, or Gemini into the platform via API. It is important to note that this is not the same as a blackbox AI trading bot, but is an integration, and access to using existing AI tools with an ASIC regulated broker partner.
Within three weeks, there were more than 1trillion tokens used on the MQL5 Lite model, and the community will continue to build from here. With AI continuing to develop at a rate of knots, there will be plenty of change and new tool introductions in the weeks and months ahead, and we will continue to add here.
Capitalise.ai
Capitalise.ai uses Natural Language Processing and Machine learning technology to analyse and monitor stocks, create and test trading strategies and automate them. There is also a library of automated trading strategies to choose from.
Capitalise.ai’s machine learning technology means their platform is constantly evolving and improving. Natural Language Processing means there is no need to write any code in order to automate your trading strategy. Having recently been acquired by Kraken and integrated into Kraken Pro, you may want some alternatives unless you are looking to trade crypto.
TradingView AI Chart Copilot
TradingView AI Copilot effectively gives you an AI assistant inside your charting software. Whilst this is not a bot that will trade for you, it absolutely can help you to spot better trades, and make them. If you are already using a broker with TradingView integration, then you can use the Chart Copilot to map out your trades, and execute them there and then.
We have found some of the best use cases of AI to be identifying pre-defined patterns, or setups, from a list of stocks we follow. We can then probe the AI to run backtests, or analysis on how similar setups have worked with the same stock in previous instances. These are the types of things that may have taken hours in the past, that can now be achieved in a matter of minutes.
Automated Trading vs Algorithmic Trading
Automated trading and algorithmic trading are often spoken about as if they are the same thing, but there are a few key nuances that separate the two. The easiest way to think about it is that algorithmic trading is about how a trading decision is made, while automated trading is about how that decision is put into practice. In other words, an algorithm can decide when to buy or sell, while automation places the trade, manages the order, or exits the position without you manually clicking the button.
So when we are talking about the best automated trading platforms here, we are looking at the execution of your trade, or where that process happens. You can set up an algorithmic rule based trading system using some of the automated trading platforms above, such as MT4, MT5, and cTrader, but they are not the algorithmic layer. You use EAs on MetaTrader platforms, or cBots on cTrader. Those are add-ons to the main platform and can be custom programmed, or bought from the platforms’ own ‘stores’.
Automating your trading can be as simple as setting up pre-defined buy orders, and stop orders, so that a trade is carried out to your earlier command. Algorithmic trading considers variables within that mix. In other words, if x condition is met, open a position with y% stop loss, and z% take profit level.
If you are a beginner, copy trading is a simpler entry into one part of the automated trading world, whilst AI trading apps can deliver much of what an algorithmic trading system does, but in more simple language.
Why Do People Use Auto Trading Platforms?
Time is the biggest factor. Both timing an entry/exit based on known rules, and the time you would have to spend monitoring open positions or looking for suitable setups.
Automated orders can work while you are away from the screen, and algorithmic or rule following systems can monitor more markets than you would be able to manage yourself. That does not mean you have to leave a trading system completely unattended, but it does mean you can reduce the amount of manual screen-watching required, and have potential setups flagged to you as opportunities you would execute.
Discipline to execute on your plan is the other major advantage to auto trading. You may have a trading plan, and know exactly what you should do, but as markets move in real-time, greed, hesitation, or fear can get in the way. The reason trading psychology is such an important topic is that when under pressure, even experienced traders can have moments when the intentions fade into the background. A system that simply follows rules that are pre-defined does not have those emotions.
The digital innovation in retail stock, contracts for differences (CFDs), foreign exchange, commodities, and crypto has created automatic (auto) trading using computer algorithms to execute trades in financial markets.
Automated trading is an excellent way for beginners and experienced traders to take some of the heat out of the decision-making process. There are several types of automatic trading, including algorithmic trading, high-frequency trading, and social (copy) trading.
Automated trading can make a good trading plan easier to follow, but it will not turn a poor strategy into a profitable one. Algorithmic trading can help identify and execute opportunities with speed and consistency, but it still depends on sound logic, realistic testing and careful risk management. The best automated trading platforms will provide access to the either the best traders to follow (if copy trading), or the best algorithmic trading systems to use. If you are more advanced and have your own setups to execute, the best broker to use will depend on the trading conditions, reliability, and access to the system you intend to use.
Finally, you will want to choose a platform regulated by a reputable authority, which in Australia is the Australian Securities and Investments Commission (ASIC) who ensure compliance with relevant laws and regulations.
TheBull.com.au has reviewed some of the best automated trading platforms Australia offers, including eToro for copy trading and AI trading, Pepperstone for MetaTrader 4 and cTrader, and AvaTrade for MetaTrader 5. Each is ASIC regulated, has a long history in the local market, and offers access to a wide range of trading instruments. Personal preference, and the type of auto trading you have in mind will often decide your personal best fit.
Automated Trading FAQs
What is automated trading?
Automated trading is a form of trading in which trading decisions are made by computer software. This software uses algorithms and pre-determined rules and parameters to make trading decisions for you.
How does copy trading work?
Copy trading is a type of automated trading that allows you to copy the positions of a more experienced trader. An amount of money is assigned to a certain trader, then all of their trades are automatically copied
How do you use an Expert Advisor in MT4?
First chose your EA software then download and install it. Next, select ‘Auto Trading’ from the menu and drag the desired Expert Advisor onto the chart.
How do you create a trading robot in MT4?
To create a trading robot in MT4, known as an Expert Advisor, you will need to know how to write code in Metatrader’s programming language MQL. You will need to set the rules and parameters for the trading robot based on your chosen strategy. Your bot will then need to be backtested against historical data to assess its performance. You can now use AI tools to help you create the code.
What is the best AI trading app in Australia?
There are plenty of AI trading apps in Australia that promise the world, but if you are actually going to trade inside one, you will still want to use a regulated broker within the process. ASIC regulated eToro have AI embedded in their trading app, and are a strong choice for beginners.
What is the difference between AI trading, copy trading and automated trading?
There are various differences between AI trading, copy trading, and automated trading, but they all work towards a similar goal, trying to simplify trading. AI trading can be thought of as using artificial intelligence somewhere in the trading process, and with the ability to adjust plans along the way. Copy trading involves following other traders’ strategies, and there will be someone else at the wheel making decisions that your account copy’s. Automated trading typically acts on a series of predefined rules to execute trades on your behalf, and those rules stay fixed unless changed.
Can you use AI to trade stocks?
Yes, AI can be used to trade stocks in many different ways. Many traders now use AI tools to help with researching and analying stocks as well as providing trading signals.