AI Trading Platforms – 5 Top Rated AI Trading Platforms in 2021

Emerging AI technologies have made a groundbreaking entry into the business world in recent years. As computation resources become more abundant and AI algorithms more powerful, it seems like artificial intelligence will continue to shape major industries in our world today, finance definitely being one of them. Here we dive into the best AI Trading Platforms for 2021.

Best AI Trading Platform in 2021 for Auto-trading

Best AI Trading Platforms – Top Rated Reviewed

In this list, we have identified some of the emerging options regarding potentially the best AI trading platforms. It’s important to go through the list, do your own research and only pick the one that caters to your trading needs the most.

We also included some well-established options such as eToro, in the hopes of making the list more extensive for different risk appetites and making sure a variety of financial instruments are covered such as stocks, indices, cryptocurrencies, forex, commodities and CFDs. Here goes the list.

1. eToro: Best Overall AI Trading Platform

eToro offers great AI trading opportunities for traders who are looking to expand their strategy. As AI technologies shape the future of finance, eToro is well-positioned to be one of the best platforms to offer trading services enhanced with Machine Learning strategies.

The platform pioneered social trading (copy trading) in recent years and became one of the most popular brokerage services in the world. Implementing the same innovative structure wasn’t too difficult from the Artificial Intelligence Trading perspective.

For example, MomentumDD, the first AI copy fund on the trading platform, goes through the top 30 traders that occur in the platform and deploys machine learning technology to analyze the most likely ones to generate profits for a given period.

You can explore other popular machine learning funds deployed on the platform such as OutSmartNSDQ and AITrader50 or explore other trading strategies related to artificial intelligence. We particularly like eToro for enabling investors to utilize this innovative technology in a straightforward way.

Pros

  • Copy trading and social trading
  • Vast options regarding strategies enhanced by machine learning
  • Pioneer in innovative technologies such as social trading/copy trading and making use of AI
  • Highly regulated and holds multiple international licenses
  • Offers a huge variety of CFD assets for trading including cryptocurrencies
  • Reasonably low fees for the platform’s quality

Cons

  • Some machine learning copy portfolios may require high minimum deposit amounts

67% of all retail investor accounts lose money when trading CFDs with this provider.

2. British Bitcoin Profit: Best Execution Times

British Bitcoin Profit is an interesting option that’s available to investors seeking AI trading platforms with a cryptocurrency focus. It provides an easy entry to people who aspire to be Bitcoin traders while using the power of artificial intelligence technologies.

The sign-up process is easy and the web application works seamlessly making British Bitcoin Profit a strong candidate for this list. Deposits as low as ₤250 will be enough to get started in a few steps. Additionally, BBP doesn’t charge registration fees in contrast with some of the big brokerage firms in competition.

Pros

  • Satisfied client testimonials
  • Recognized by mainstream media
  • Wide range of cryptocurrencies to choose from
  • No registration fee
  • Modest minimum deposit amount (approximately 250 gbp)

Cons

  • Doesn’t have a mobile app
  • Machine Learning algorithms can have a highly experimental nature and their creators may be unverified

67% of all retail investor accounts lose money when trading CFDs with this provider.

3. Bitcoin Loophole: Overall Best Bitcoin Profitability

Bitcoin Loophole is an innovative platform that offers a variety of cryptocurrency pairs to be traded using AI trading robots and algorithms. This AI trading platform seems impressive for claimed profitability ratios, seamless web application and dedicated customer support.

While easy instructions provide a low entry barrier for investors that aren’t necessarily tech-savvy, a low minimum deposit also promotes participation for all levels of budget options.

Pros

  • A free platform to use
  • Dedicated customer service
  • Low minimum deposit requirement
  • Compatible with all devices and operating systems
  • Easy client onboarding based on instructions provided on the go via the web app

Cons

  • Currently doesn’t offer mobile applications
  • New platform can pose technical risks and bugs
  • Robot’s criteria should be examined carefully before taking big risks to ensure strategic alignment

67% of all retail investor accounts lose money when trading CFDs with this provider.

4. Bitcoin Profit: Best Free Bitcoin Bot

Another automated AI trading platform Bitcoin Profit provides trading services for cryptocurrency trading based on robot strategies. This service delegates the time and resource-heavy analysis phase to the computers while eliminating time-consuming and inefficient pattern recognition studies required for each trading entry or exit order. Of course, supervision and risk management is always key in successful AI trading activities.

Offering pretty much every service available for free, Bitcoin Profit makes a very attractive value proposition. Having no hidden fees helps traders keep the profits made through AI technology.

Pros

  • No fees
  • Efficient AI trading deployment that makes crypto trading activity more efficient
  • Demo mode provides a simulation period before getting started with real trades.
  • Responsive customer service

Cons

  • Some features can be confusing for novice crypto-traders
  • Withdrawals can be slow requiring a day or two before funds clear

67% of all retail investor accounts lose money when trading CFDs with this provider.

5. Bitcoin Champion: Best Bitcoin Robot for Beginners

Bitcoin Champion is a service provider that offers an AI trading platform for Bitcoin and cryptocurrency investors and Forex investors alike. It’s just another option to harvest state-of-art AI technology and powerful computation based decision-making strategies. Apart from not offering a mobile application, Bitcoin Champion is easy to use and take advantage of AI.

Pros

  • Beginner-friendly platform
  • Makes use of innovative AI technology
  • Allegedly highly profitable AI trading bots
  • Fast web application and executions which can be important

Cons

  • Missing mobile application like some of the other platforms
  • Less known compared to major brokerage firms such as eToro
  • Most likely not regulated since cryptocurrencies are new as well as services that offer them

67% of all retail investor accounts lose money when trading CFDs with this provider.

6. Bitcoin Era: Bitcoin Bot with Highest Performance

Bitcoin Era is another alternative to AI trading platforms that deploy bots to achieve high profitability trading strategies. These services come with IT-related risks and must be analyzed carefully before making any serious investment decisions.

Pros

  • Easy onboarding
  • Fast withdrawal process
  • Allegedly highly profitable
  • Efficient customer support

Cons

  • Not commonly known
  • Doesn’t seem to be holding regulatory licenses
  • AI trading platform can be risky to integrate accounts with
  • The technical aspect of the operation can be risky

67% of all retail investor accounts lose money when trading CFDs with this provider.

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$50Exclusive promotion
Our score10
  • Invest in a wide range of cryptocurrencies
  • Ability to copy more experienced investors and their decisions
  • eToro crypto wallet included which makes it beginner-friendly
0% Commissionstart TradingOur score 10

What is AI Trading?

Artificial intelligence (AI) trading is when stocks or crypto are traded without any human interaction; using trading bots to execute trades. Bots analyze millions of data points and analyze the patterns and then execute the trade on the trader’s behalf. Although most of the traders use these bots to execute the trades on their behalf still there is some hesitation shown by hedge funds to use complete automation in their trades but they use Artificial Intelligence to analyze the big data numbers to form a pattern and then execute the trades based on those findings.

The use of AI in trading is resulting in saved time for the traders as they don’t need to spend as much time analyzing the data and search for patterns. AI algorithms help traders to pick the top-performing stocks daily by using pattern recognition. By doing this, traders are not only able to save their time but also take optimal decisions to enhance their portfolios.

Over the last few years, the automation in trading was gradually increasing but of late, the covid-19 has critically increased the use of AI as the retail investors are now realizing its utility. AI trading platforms can give stable and consistent returns if the machine learning algorithm is trained and tuned properly. One of the major aspects of AI trading is copy trading which is another growing trend in trading activities. In copy trading, traders identify the best performer and then they select the options which can be based on AI strategies as well.

How does AI trading work?

AI trading is a form of trading that uses powerful computer algorithms which work based on complex mathematical formulas to perform automated trades. Trader has the option to purchase a trading bot or there are multiple AI trading platforms listed in this article that offer AI trading services for a fee.

Traders can also make a trading bot themselves but that requires advanced technical skills, therefore most of the traders started trading by purchasing a trading bot or by getting a subscription of the AI trading platforms.

AI bots usually work in three different stages: signal generation, risk allocation and execution of the trade. We will discuss all three stages in detail.

Signal Generation: This is the first stage of the trade and in this stage, the bot generates the signal based on market data and by analyzing technical indicators.

Risk Allocation: The second stage of the AI trade is to allocate the risk as guided or set by the trader. Let’s say the trader has implied a condition for the bot to not use more than 2% of the capital in one trade to mitigate the loss of losing significant capital in one trade.

Trade Execution: After the initial two stages of signal generation and risk allocation, the final stage involves executing the trade which is done by granting the excess to the AI bot on the trading platform.

Please note the workings of AI trading strategy can vary based on the platform and services offered.

What are the benefits and risks of using AI trading platforms?

There are numerous benefits of using AI trading platforms and usually, benefits outweigh the risks associated with the use of AI trading platforms greatly due to the technological advancements. Still, AI is a powerful technology that requires attention, caution, expertise and good risk management.

Benefits of using AI trading platforms

Emotionless trading: Most traders lose their investment or capital when there is too much emotion attached to an investment or also due to fear of missing out (FOMO). Traders can eliminate risks of irrationality by opting for AI trading platforms.

Machine Learning: Machine Learning is a statistical advancement that allows algorithms to make iterations and learn by themselves. This allows automated strategies that improve over time when coded correctly.

Big Data: We as humans have striking intelligence and technical capabilities. However, we also have limits that machines don’t. When it comes to analyzing billions of data points computers easily surpass the capabilities of a human and with the right AI strategy very successful outcomes can be obtained based on analysis of big data.

Risks associated with AI trading platforms

Exchange executions: AI trading platforms execute an order for a specific stock or crypto based on the exchange they are allowed to work. If there is a pricing mismatch or the price feed is wrong AI algorithms can make mistakes. This is one of the reasons why it’s critical to work with established exchanges or make sure the price feeds are always accurate.

Risk of hacking: One of the biggest risks of computers is getting accounts hacked or private API keys stolen which can result in a complete loss to the trader. When custody of an account or wallet is at the exchange this helps greatly since they usually deploy powerful and professional security measures.

Error in Algorithm: The trading bots are designed to generate profits by using algorithms and if there comes an error in the algorithm the bots would start making losses instead of profits and potentially not improve over time.

What assets can I trade on AI trading platforms?

Luckily, there are multiple assets that are available for investors which can be traded on AI trading platforms today.

Stocks: Stocks can be traded on AI trading platforms and are one of the most commonly utilized instruments on AI trading platforms today. A trader can trade various stocks using an AI trading platform and take full advantage of making trades early and preventing emotionless trading.

Cryptocurrency: Crypto trading is a highly volatile market that is becoming exceptionally popular. With 24/7 trading hours, it becomes difficult to enter or exit the market at the right time on a continuous basis. Therefore it is really important for a crypto trader to make use of innovative technologies and to enter the market when it best suit the trading strategies, due to these reasons, the utilization of AI trading platforms for a crypto trader can be very useful.

Forex Trading: Forex trading, just like cryptocurrency trading, is a highly volatile market and most of the buyers use AI trading platforms to enter or exit the market automatically. Let’s say a trader wants to enter in a currency pair (EUR/USD) at a support level where it is expected that the currency pair would bounce back or at a resistance level where a breakout is expected. AI trading platforms will handle all of these trades by themselves saving the trader all the hustle and time.

CFDs: AI trading platform also provides options to trade CFD’s (contract for differences). CFD’s are popular among the short term traders as it allows the traders to trade the direction of specific securities.

What fees and commissions do AI trading providers charge

Since AI trading platforms provide traders everything necessary to successfully execution trade and solve many problems, platforms charge fees and commissions in return for providing their highly technical services.

There are mainly two types of fees associated with using an AI trading platform.

Flat Fee: This could be charged as a monthly or annual subscription fee for using the AI trading platform services. Failing to pay the subscription fee results in suspension from the trading platform.

Commission Fee: AI trading platform charges also include commission fees in addition to the monthly/annual fees. While the subscription fee is fixed, the commission fee varies according to the number of trades executed by the trader.

AI trading fees: On top of trading fees and commissions, AI trading platforms may charge fees related to deposit and withdrawal amounts from the platform. Some platforms may also charge additional fees based on the profits tied to the royalty of their intellectual property if they have a special AI algorithm that’s outperforming the market significantly.

Let’s say an XYZ platform charges 0.05% per each trade which is executed successfully. This means a trader has to pay a 0.05% commission based on each buy or sell activity. A trader before using any AI trading platform is recommended to do the initial research on the fee structure of different AI trading platforms and then compare the charges according to the services provided by the platform and only then decide to open an account on the platform.

Minimum Deposit Requirement: Some AI trading platforms do not charge monthly or annual subscription fees but they require the trader to open the account with a minimum deposit requirement. For example, popular trading platform eToro requires the trader to open an account with a minimum of $250. (Amount can fluctuate based on country settings or updates to brokerage platform)

What should I look for when selecting an AI trading site?

There are a number of factors that the trader should consider before selecting the AI trading platforms.

Spreads and Commission: Spreads and commission are the trader’s top priority when selecting an AI trading platform as if the trader selects an exchange that has high spreads compared to the other platforms he will end up paying more charges on every buy/sell activity.

Leverage: AI trading platforms that offer high leverage opportunities often attract traders’ attention. As leverage enables the traders to make huge profits even if their capital or investment is small. However, leverage trading can be very tricky if the market goes in the wrong direction as losses will occur on a leveraged basis as well.

Customer Support: Efficient customer support is considered a mandatory feature for any AI trading platform and the platform which provides good and efficient customer service is often praised and supported by the traders. Whereas a platform that does not resolve traders queries timely and provides inefficient support results in loss of traders’ confidence in the platform. Therefore traders are recommended to do a little research about the customer support of the platform before selecting one.

Regulation: Another aspect that is sometimes neglected by the traders is the regulatory licenses a platform holds. It can be important to check whether the platform complies with the regulatory bodies and holds the necessary licenses.

Research and Technical Analysis Tools: Availability of research and technical analysis tools is another important factor in selecting the AI trading platform as it enables the trader to take accurate decisions and also educate the traders although it might be said that this feature might have less importance when traders opt-in for automated machine learning or artificial intelligence strategies.

Conclusion

We have seen a surge in AI technologies over recent years. Since AI algorithms became more mature, we have seen impressive AI implementations in self-driving cars, medical applications, entertainment systems, robotics and many more.

It’s no surprise finance and trading are also getting is a fair share of successful AI implementations. Thanks to the competition in financial services, we are seeing lower fees than ever while systems are getting more improved and technological.

If you are interested in trading, you should definitely check out AI trading platforms to unleash the power of AI in trading and investment-related projects and make use of new technologies to get ahead in the competition and establish a profitable, cutting edge trading strategy.

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About Umut Sagir PRO INVESTOR

Finance and Tech professional. Founder of HolyPython.com. In recent years, Umut helped reputable clients such as MasterCard New York HQ, Deutsche Bank, FluidAI, Danske Commodities, EvoShave and others with cutting-edge technology implementations and financial research.