The best AI (Artificial Intelligence) Forex brokers, according to our research, are:
- Roboforex
- Pepperstone
- IC Markets
- AvaTrade
- IG Markets
- Admirals
- Tickmill
- Interactive Brokers
- Vantage
- FP Markets
In this top ten we have collected the best forex brokers that are at the forefront of AI trading for retail traders.
For each broker you will find:
- If AI trading is allowed
- The trading platforms available
- If backtesting functions are available
- If VPS services are provided
What are the best AI forex trading brokers?
Below our curated list and review of the best AI forex trading brokers and platforms, with details of features and characteristics.
Warning
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you can afford to take the high risk of losing your money.
Roboforex
best AI forex platform overall
Roboforex allows the creation and customization of trading robots on the R Stockstrader platform with backtesting functions and free VPS for AI trading.
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About Roboforex
RoboForex is a global forex and CFD broker founded in 2009, offering trading on currencies, stocks, indices, commodities, and cryptocurrencies. RoboForex provides MetaTrader 4, MetaTrader 5, and proprietary platforms. RoboForex is regulated by the Financial Services Commission (FSC) of Belize. RoboForex is known for competitive spreads, extensive educational resources, and multiple account types. RoboForex serves over 4.5 million clients worldwide. The RoboForex CEO is Andrei Dziarnovich.
Roboforex Features
The features of Roboforex are listed below.
- You can create your own robot or an existing robot model on the R stockstrader platform.
- Backtesting functions.
- Highly-Customizable robot.
- Unlimited number of strategies.
- EAs on MT4 and MT5.
- VPS for free if you trade 3 standard lots, otherwise a $5 monthly fee is charged.
Roboforex Pros and Cons
Advantages of Roboforex
The advantages of Roboforex are listed below.
- Diverse Trading Platforms
- Wide Range of Instruments
- Low Minimum Deposit
Disadvantages of Roboforex
The disadvantages of Roboforex are listed below.
- Limited Educational Resources
- Higher Spreads on Some Accounts
- Regulatory Concerns
Pepperstone
best broker for AI scalping robots
Pepperstone supports algorithmic trading with downloadable robots for MT4 and MT5, offers advanced customization on cTrader Automate, and provides discounted VPS for AI deployment.
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About Pepperstone
Pepperstone is a global forex and CFD broker founded in 2010 in Melbourne, Australia. Pepperstone offers trading on currencies, commodities, indices, stocks, and cryptocurrencies through MetaTrader and cTrader platforms. Pepperstone is regulated by multiple authorities including ASIC, FCA, and CySEC. Pepperstone is known for competitive spreads, fast execution, and extensive educational resources. Pepperstone serves clients in over 160 countries worldwide. The Pepperstone CEO is Tamas Szabo.
Pepperstone Features
The features of Pepperstone are listed below.
- You can download robots for MT4, MT5, and cTrader.
- Coding in C# and open API available.
- Advanced platform customization with cTrader Automate.
- Backtesting capability for more robust Expert Advisors.
- VPS is pre-installed with your MT4 with a 25% discount.
- EAs supported across MT4, MT5 and cTrader platforms.
- AI can be tested with a demo account.
Pepperstone Pros and Cons
Advantages of Pepperstone
The advantages of Pepperstone are listed below.
- Stable raw spreads (0,09 pips on EUR/USD on average)
- Caters for algorithmic trading
- Has won over 30 Forex industry awards
Disadvantages of Pepperstone
The disadvantages of Pepperstone are listed below.
- The demo account is not unlimited
IC Markets
best broker for cAlgo
IC Markets provides cTrader Automate for algorithmic trading, supports AI trading software via MT4 and MT5, and offers a free VPS for high trading volumes.
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About IC Markets
IC Markets is a global forex and CFD broker founded in 2007 and based in Sydney, Australia. IC Markets offers trading on over 2,250 instruments including currencies, commodities, indices, stocks, and cryptocurrencies. IC Markets provides MetaTrader 4, MetaTrader 5, and cTrader platforms. IC Markets is regulated by multiple authorities including ASIC and CySEC. IC Markets is known for its ECN execution model and low spreads. The IC Markets CEO is Andrew Budzinski.
IC Markets Features
The features of IC Markets are listed below.
- IC Markets offers cTrader Automate for algorithmic trading.
- Customize strategies on algorithms and advanced backtesting functions.
- Technical indicators for technical analysis by using #C programming language.
- You can download indicators and trading robots for cTrader.
- IC Markets also provides AI trading software via MT4 and MT5.
- A VPS service is provided for free if your trading volume exceeds 15 lots per month.
- AI can be tested with a demo account.
IC Markets Pros and Cons
Advantages of IC Markets
The advantages of IC Markets are listed below.
- Low-latency trading environment
- Institutional level liquidity
- MT4, MT5, cTrader platforms are all available
Disadvantages of IC Markets
The disadvantages of IC Markets are listed below.
- Small amount of educational tools for new traders
- Small range of tradable assets compared to other CFD/Forex brokers
AvaTrade
best forex broker for AI options trading
AvaTrade enables AI trading bots on MT4 and MT5 with VPS support, along with demo accounts for testing expert advisors.
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About AvaTrade
AvaTrade is a global forex and CFD broker founded in 2006 and headquartered in Dublin, Ireland. AvaTrade offers trading on currencies, commodities, indices, stocks, bonds, ETFs, and cryptocurrencies. AvaTrade provides proprietary platforms alongside MetaTrader 4 and 5. AvaTrade is regulated by multiple authorities including CySEC, ASIC, and FSA. AvaTrade serves over 300,000 clients worldwide. AvaTrade is known for competitive spreads and extensive educational resources. The AvaTrade CEO is David Dryzin since 2016.
AvaTrade Features
The features of AvaTrade are listed below.
- At AvaTrade, you can implement trading bots with both MT4 and MT5 platforms.
- VPS on MT4 is available.
- Avatrade offers both MT4 and MT5 demo to test EAs.
AvaTrade Pros and Cons
Advantages of AvaTrade
The advantages of AvaTrade are listed below.
- Tight fixed spreads from 0.6 pips (0.9 pips for retail traders)
- The mobile apps are well designed
- Can be connected to ZuluTrade and Duplitrade
Disadvantages of AvaTrade
The disadvantages of AvaTrade are listed below.
- High inactivity fees
- The demo account is limited to 30 days
IG Markets
best platform with built-in trading IA
IG Markets offers API services to create AI systems, provides backtesting, and supports MT4 AI trading with demo availability.
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About IG Markets
IG Markets is a global online trading provider founded in 1974, offering access to over 17,000 financial markets including forex, stocks, indices, commodities, and cryptocurrencies. IG Markets provides proprietary trading platforms alongside MetaTrader 4 and ProRealTime. IG Markets is regulated by multiple top-tier authorities worldwide, including the FCA and ASIC. IG Markets is known for competitive spreads, extensive educational resources, and innovative features like weekend trading. The IG Markets’ parent company “IG Group” CEO is Breon Corcoran.
IG Markets Features
The features of IG Markets are listed below.
- API services on IG Markets include REST API and Streaming API for retail clients.
- Institutional clients have access to FIX API.
- You can create your own AI trading systems.
- Technical analysis is available on the forex market and others.
- Backtesting services available.
- You can use ProRealTime, an advanced platform with built-in trading bots.
- AI trading can be engaged on the MT4 platform, which is available also as a demo.
IG Markets Pros and Cons
Advantages of IG Markets
The advantages of IG Markets are listed below.
- Low spreads from 0.6 pips on Forex
- Wide range of financial instruments
- 40 years of experience in the Forex industry
Disadvantages of IG Markets
The disadvantages of IG Markets are listed below.
- No copy trading features
- No social trading features
Admirals
best AI plugin for MT4 and MT5
Admirals allows AI usage on MT4 and MT5, offers Supreme Edition plugin for reinforced AI strategies, and provides free VPS under certain conditions.
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About Admirals
Admirals, formerly Admiral Markets, is a global forex and CFD broker founded in 2001. Admirals offers trading on currencies, commodities, indices, stocks, and cryptocurrencies through MetaTrader platforms. Admirals is regulated by multiple authorities including CySEC and FCA. Admirals is known for competitive spreads and extensive educational resources. Admirals recently halted onboarding of new EU clients to comply with regulatory standards. The co-founder of Admirals and CEO of Admirals Group is Alexander Tsikhilov.
Admirals Features
The features of Admirals are listed below.
- Admirals allow the use of forex robots and the EAs, but no directly by them.
- You can use AI with MT4 and MT5.
- Admirals also offer Supreme Edition, a plugin for MT4 and MT5 which reinforces the AI strategies available for trading forex and other markets.
- VPS for both MT4 and MT5 is available and for free if you have a balance of $5000.
- You can open an MT4 or MT5 demo to test AI.
Admirals Pros and Cons
Advantages of Admirals
The advantages of Admirals are listed below.
- Extensive Forex Options
- Strong Regulatory Framework
- Advanced Educational Resources
Disadvantages of Admirals
The disadvantages of Admirals are listed below.
- Charges Inactivity Fee
- Mobile App Limitations
- Higher Average Spreads for Some Assets
Tickmill
best VPS for AI trading
Tickmill supports MT4 and MT5 for auto strategies, with discounted VPS and demo accounts to test AI trading processes.
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About Tickmill
Tickmill is a global multi-asset broker founded in 2014, offering trading on forex, CFDs, stocks, indices, commodities, and cryptocurrencies. Tickmill provides MetaTrader 4, MetaTrader 5, and proprietary platforms. Tickmill is regulated by multiple authorities including FCA, CySEC, and FSCA. Tickmill is known for low spreads, fast execution, and extensive educational resources. Tickmill serves over 500,000 clients worldwide. The Tickmill CEO is Sudhanshu Agarwal.
Tickmill Features
The features of Tickmill are listed below.
- MT4 and MT5 support AI where you can engage in auto strategies.
- VPS with a 20% discount.
- An MT4 or MT5 demo account can be opened in order to test AI and the trading process.
Tickmill Pros and Cons
Advantages of Tickmill
The advantages of Tickmill are listed below.
- Regulatory Trust
- Competitive Pricing
- Comprehensive Platform Support
Disadvantages of Tickmill
The disadvantages of Tickmill are listed below.
- Limited Asset Variety
- Higher Costs on Classic Account
- Discontinued Features
Interactive Brokers
best forex API service
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About Interactive Brokers
Interactive Brokers is a global electronic broker founded in 1978, offering trading in stocks, options, futures, forex, bonds, ETFs, and cryptocurrencies across 150 markets in 33 countries. Interactive Brokers provides advanced trading platforms, low commissions, and access to a wide range of financial instruments. Interactive Brokers is known for its sophisticated technology and serves both retail and institutional clients. Interactive Brokers is regulated by multiple top-tier authorities worldwide. The CEO of the Interactive Brokers Group is Milan Galik.
Interactive Brokers Features
The features of Interactive Brokers are listed below.
- Build custom trading applications for use in financial markets.
- Integrate trading into your existing applications and front-ends.
- REST API.
- FIX API.
- TWS API where you can develop applications in C++, C#, Java, Python, ActiveX, RTD or DDE.
- IB SmartRouting, searches for the best firm stock and combination prices available at the time of your order and immediately executes your order electronically.
Interactive Brokers Pros and Cons
Advantages of Interactive Brokers
The advantages of Interactive Brokers are listed below.
- Low Trading Fees
- Advanced Trading Tools
- Wide Market Access
Disadvantages of Interactive Brokers
The disadvantages of Interactive Brokers are listed below.
- Not user-friendly
- No MetaTrader Support
- Additional Fees
Vantage
best forex demo account to try AI on
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About Vantage
Vantage is a global multi-asset broker founded in 2009, offering trading on forex, CFDs, commodities, indices, shares, and cryptocurrencies. Vantage provides MetaTrader 4, MetaTrader 5, and proprietary platforms. Vantage is regulated by multiple authorities including ASIC, FCA, and CIMA. Vantage is known for fast execution, competitive spreads, and extensive educational resources. Vantage serves over 3 million registered users worldwide. The Vantage CEO is David Shayer.
Vantage Features
The features of Vantage are listed below.
- VPS for free if you have an equity of $1000.
- AI Trading on MT4 and MT5 which allow AI trading and the use of forex trading robots on retail investor accounts and others.
- Vantage offers a demo of both MT4 and MT5 platforms where you can try robot trading with them.
Vantage Pros and Cons
Advantages of Vantage
The advantages of Vantage are listed below.
- Competitive spreads and low commissions
- Strong range of asset classes
Disadvantages of Vantage
The disadvantages of Vantage are listed below.
- Not available to US traders
- Customer service could be improved
FP Markets
best for AI trading with low latency
FP Markets supports AI trading on MT4 and MT5 with free VPS for active traders and offers demos for testing expert advisors.
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About FP Markets
FP Markets is an Australian-based global forex and CFD broker founded in 2005. FP Markets offers trading on over 10,000 instruments including forex, stocks, indices, commodities, and cryptocurrencies. FP Markets provides MetaTrader 4, MetaTrader 5, and proprietary platforms. FP Markets is regulated by multiple authorities including ASIC, CySEC, and FSA. FP Markets is known for tight spreads, fast execution, and extensive educational resources. The FP Markets CEO is Craig Allison.
FP Markets Features
The features of FP Markets are listed below.
- AI trading can be engaged on the MT4 and MT5 platforms.
- VPS is free if you trade 10 forex lots on the Standard account and 20 forex lots on the Raw account.
- To start using the VPS you need to make a minimum deposit of $1000.
- MT4 demo and MT5 demo are both available for you to test and try EAs.
FP Markets Pros and Cons
Advantages of FP Markets
The advantages of FP Markets are listed below.
- Broad Instrument Offering
- Competitive Spreads
- Multiple Trading Platforms
Disadvantages of FP Markets
The disadvantages of FP Markets are listed below.
- High Fees for International Withdrawals
- Outdated Platform Design
What is an AI Forex broker?
AI forex trading brokers refer to forex (Foreign Exchange) brokerage firms that provide clients with the ability to trade foreign currencies using artificial intelligence (AI) technologies.
When a Forex brokerage allows AI trading, it means that they provide or accommodate automated trading systems. These systems, often called trading bots or algorithms, are designed to carry out trades on behalf of the trader based on predetermined conditions. They can analyze large volumes of data at incredible speed and execute trades based on the parameters set by the trader.
How to choose an AI forex broker?
Forex trading with the aid of AI (Artificial Intelligence) is becoming increasingly popular. By leveraging machine learning and data-driven insights, AI can potentially provide a competitive edge in the forex market. Choosing the right broker to facilitate this advanced technology, however, is crucial. Here’s a guide on how to make the right choice:
- Regulation should be at the forefront of your considerations when choosing any forex broker. Trading with a regulated broker ensures that your investment is protected by the framework set by the regulatory body. The top regulations you should look out for are FCA, ASIC and NFA.
- Consider the broker’s features as your trading strategies, especially if they are AI-driven, may require certain features to be supported by your broker. Some of these include VPS and API availability.
- Consider what you want to do, understanding your end-goal is pivotal. If you aim to trade with AI, focus primarily on the broker’s credibility, regulation adherence, cost-effectiveness, and the minimum deposit required. On the other hand, if your goal is to sell AI to third parties, platforms with larger user bases, such as MT4 (MetaTrader 4), might be more appealing as they offer a wider audience.
AI forex trading broker alternatives
For forex traders and others, the main alternatives are robo advisors and copy trading.
Robo advisors are services that automate trading strategy. These trading strategies are trading robots backed by humans constantly calibrating the trading portfolios and the algorithms behind them.
Copy trading allows traders to copy in real-time the trading decisions of other traders. No AI or forex trading robot is involved whatsoever.
What is AI forex trading?
An AI for forex trading is an algorithm that uses machine learning so that it self-corrects and self-calibrates over time. These algorithms can be used both to open and close positions automatically, but also to analyze the market in order to generate trading signals.
A specific broker is not required to implement them; a forex broker that allows the implementation of EAs and Custom Algorithms is sufficient.
This is why in most cases a good forex broker is enough. AI for forex trading can in fact be either programmed from scratch but this requires extremely advanced knowledge not only of programming languages but also of the world of machine learning.
In the world of Machine Learning, one of the most vibrant communities is that of the MQL5 Forum. If you do not have the knowledge to create an AI from scratch, you can always buy one and install it inside your computer or a VPS.
What are the most common coding languages for forex AI?
The most common coding languages for forex AI are:
- MQL4
- MQL5
- cAlgo
- Pinescript
MQL4 is the most common coding language used by AI forex programmers, due to the fact that the MetaTrader 4 trading platform (the only one compatible with MQL4) is the most popular among traders of all kinds.
The MQL5 language, although it works on the MetaTrader 5, is not compatible with the MetaTrader 4 platform. The MQL 5 language has some peculiarities, such as the fact that (as opposed to MQL4) it integrates libraries to call variables such as those referring to the economic calendar.
In contrast, the cAlgo language is used on the cTrader platform, a favorite of scalpers. The cAlgo language is very similar to C#, and is not compatible with either MQL4 or MQL5.
Finally, Pinescript is the programming language for the Tradingview platform, which is a platform used primarily to analyze chart trends. For this reason, Pinescript is mainly used by those who wish to perform backtesting on their AIs.
Coding an AI is not easy, so you can still buy one. However, if you still want to code one from scratch but you do not have enough coding experience, you can take a look at Roboforex, which offers a trading platform that makes coding more accessible for everyone.
(74-89% of retail CFD accounts lose money)
Can an AI for forex guarantee results?
AIs for forex do not guarantee results. They follow strategies that were successful if tested in the past, but past performances are not a guarantee of future results. AIs are tested and calibrated using past data. If they are successful with a backtesting benchmark, you may not get the same result in the future.
While AI systems base their strategies on patterns that have shown success in the past, it’s a fundamental tenet of trading that past performances do not guarantee future outcomes. Markets evolve, external factors change, and what worked once might not work again.
AI systems undergo rigorous backtesting using historical data. This means their strategies are refined and calibrated based on past market behaviors. However, achieving a high success rate in backtesting does not automatically translate to future success. There are countless variables in the real market that may not be present or accounted for in historical data.
It’s also essential to understand that while AI can adapt and learn, it doesn’t foresee the future. It makes decisions based on patterns and data it has been fed, making it reactive rather than prophetic.
Pros and cons of using AI in forex
Pros:
- Available 24/7
- Remove the psychological aspect and the anxiety which may come with trading
- You can monitor many orders at the same time
- Backtesting available
- Machine learning to tweak themselves
Cons:
- Algorithms are based on past data
- You need to know programming language
- May be expensive to buy
- Very hard to code