Recently, emerging AI technologies have made an impact on the business world. As computing resources and AI algorithms become more and more powerful, we can expect artificial intelligence to continue to revolutionize major industries, finance included. This article discusses the best AI Trading Platforms to watch in 2022.
Review of the Best AI Trading Platforms
On this list, we present some of the emerging options that could potentially serve as the best trading platforms for AI. Make sure to go through the list, conduct your research, and choose the trading platform that best meets your needs.
We included eToro and other options that have been around for a long time as part of our effort to cover a variety of instruments, such as stocks, indices, cryptocurrencies, Forex, commodities, and CFDs. Let’s take a look.
eToro: The best overall platform for AI trading
For traders looking for new opportunities to expand their strategy, eToro offers great AI options. eToro is well equipped to offer Machine Learning strategies to traders as AI transforms the world of finance.
Since the platform pioneered social trading (copy trading), it has become one of the most popular brokerage services worldwide. Incorporating the same innovative features from the Artificial Intelligence Trading perspective wasn’t too difficult.
A first-of-its-kind AI-powered copy fund on the trading platform, MomentumDD analyzes the top 30 traders and applies machine learning to determine the most likely to succeed over time.
Top Recommended Platforms
78% of retail investor accounts lose money trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Trading forex or CFDs on margin involves a high degree of risk and may not be suitable for all investors. There is a possibility that you may suffer a loss equal to or greater than your entire investment.
CFDs are complex instruments and involve a high risk of losing money quickly because of the leverage effect. 68% of retail investor accounts lose money trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
The platform offers other well-known machine learning funds, such as OutSmartNSDQ and AITrader50, that you can explore, or other AI-based trading strategies. Our favorite feature about eToro is that investors can easily use this innovative technology.
- You can take advantage of the Copy-trading and social trading tools.
- There are a variety of machine-learning-based strategies available
- Licensed in multiple countries and highly regulated
- CFD assets, including cryptocurrencies, are available for trading
- The platform has affordable fees
- You may need a high deposit amount with some machine learning copy portfolios.
British Bitcoin Profit
Investors seeking AI trading platforms focusing on cryptocurrencies will find British Bitcoin Profit an interesting choice. Artificial intelligence technologies offer an easy way for people aspiring to become Bitcoin traders to enter the market.
British Bitcoin Profit has an easy sign-up process and a smooth running web application, making it an excellent choice for this list. With only a $250 deposit, you can get started immediately. Additionally, unlike its competitors, BBP doesn’t charge registration fees.
- Recommendations from satisfied clients.
- Mainstream media recognition.
- Various cryptocurrencies are available.
- Registration is free.
- The deposit amount is only 250 GBP (approximately).
- No mobile app is available.
- The creators of Machine Learning algorithms can be unverified, and they may be experimenting with a lot.
Bitcoin Loophole: The Best Overall Bitcoin Profitability
Bitcoin Loophole uses artificial intelligence and algorithms to offer a variety of cryptocurrency pairs for trading. An attractive aspect of this AI trading platform is its streamlined web application, high profitability ratio claims, and dedicated customer service.
With easy instructions, even those who may not be tech-savvy can participate. A low minimum deposit creates a level playing field for investors of all budget levels.
- Free to use platform.
- Client-centered service.
- It requires a small deposit.
- Suitable for all devices and operating systems.
- Onboarding is easy with web app instructions provided on the go.
- Currently, there is no mobile application.
- A new platform can have technical risks and bugs.
- It’s important to carefully examine the robot’s criteria to ensure strategic alignment before taking major risks.
Bitcoin Profit: The Best Bitcoin Bot for Free
Bitcoin Profit uses robot strategies to provide cryptocurrency trading services based on automated AI trading. When using this service, the computer handles time and resource-intensive analysis while eliminating the need for prolonged and ineffective pattern recognition studies when trading entry or exit orders. Successful AI trading activities always require supervision and risk management.
The free services that Bitcoin Profit offers make it a stellar value proposition. By not having any hidden fees, traders can keep more profits.
- Deploying AI to enhance cryptocurrency trading efficiency
- During demo mode, you can practice before starting with real trades.
- Excellent customer service
- It can be challenging for beginners to use some crypto-trading features
- Funds may take a day or two to clear after withdrawals
Bitcoin Champion: Top Bitcoin Robot for Novices
The Bitcoin Champion provides traders with an AI trading platform for investing in Bitcoins, cryptocurrencies, and Forex. You can take advantage of powerful computational-based decision-making strategies and state-of-the-art AI technologies. Aside from the lack of a mobile app, Bitcoin Champion is user-friendly and uses the power of AI.
- An easy-to-use platform for beginners
- Utilizes cutting-edge AI technologies
- High-profitability AI trading bots
- Speedy web applications and executions
- The platform lacks mobile applications
- The company is less well-known than companies like eToro
- Cryptocurrencies and services offering them are likely not regulated
Bitcoin Era: The Highest Performance Bitcoin Bot
It employs bots to facilitate high-profit trading strategies similar to AI trading platforms. These services are associated with IT risks, so you should carefully analyze them before investing.
- Onboarding is easy
- Fast withdrawals
- High-profit potential
- A responsive customer service team
- Rarely known
- Holds no regulatory licenses
- The integration of trading accounts with AI platforms can be risky
- It can be risky from a technical standpoint
AI Trading – what is it?
Artificial intelligence (AI) trading applies to trading stocks or cryptos without any human interaction; via trading bots. Robots execute trades after analyzing millions of data points and patterns.
Even though most traders use these bots to execute their trades, hedge funds are still reluctant to automate their trades fully.
In trading, AI reduces the time spent analyzing data and searching for patterns, saving the traders’ time. Pattern recognition helps traders pick the most profitable stocks every day using AI algorithms. Trading in such a way allows traders to save time and enhance their portfolios.
Since the covid-19, AI in trading has become increasingly popular among retail investors, who are now aware of the importance of AI in trading. Machine learning algorithms can provide stable and consistent returns. Copy-trading, another growing trend in trading activities, is based on identifying the most successful trader then selecting options based on artificial intelligence strategies.
AI trading: How does it work?
Artificial Intelligence (AI) trading involves performing automated trades using powerful computer algorithms based on complex mathematical formulas. You can either purchase an AI trading bot or get AI trading services through one of the platforms listed in this article.
However, most traders start trading with a bot or subscription to an AI trading platform. Of course, traders can make a bot themselves, but it requires advanced technical skills.
AI bots generally work in three stages: signal generation, risk allocation, and execution. Let’s explore all three in more detail.
Signal Generation: At this stage, the bot analyses market data and technical indicators to generate the signal based on the trade.
Risk Allocation: The next step is to allocate risk according to the trader’s guidance. For example, the trader may require the bot not to invest more than 2% of the capital’s trade to prevent losing significant capital in a single transaction.
Trade Execution: The final stage is executing the trade where an AI bot is granted the excess on the trading platform.
The AI trading strategy may work differently depending on the platform and service.
AI trading platforms: what are the benefits and risks?
Technology advancements have greatly increased the benefits of utilizing AI trading platforms, and often the benefits outweigh the risks of using these platforms greatly. Nevertheless, AI is a complex technology that requires expertise, caution, and sound risk management.
AI trading platforms: benefits
Emotionless trading: When traders invest too emotionally or due to FOMO (fear of missing out), their investment or capital is lost. AI trading platforms eliminate the threat of irrationality for traders.
Machine Learning: A machine learning algorithm makes iterations and learns by itself. If programmed correctly, automated strategies become more efficient over time.
Big Data: Humans are remarkable in their intelligence and technological abilities. Yet, we have limitations that machines aren’t capable of. A computer easily surpasses the capabilities of a human when it comes to analyzing billions of data points, and the right AI strategy can lead to very successful outcomes.
The risks of AI trading platforms
Exchange executions: The AI trading platforms execute orders based on the exchange they have permission to trade. AI algorithms can make mistakes if pricing mismatches or price feeds are incorrect. That’s why it’s important to deal with established exchanges or ensure the price feeds are accurate at all times.
Risk of hacking: It is possible for computer accounts to be hacked or private API keys to be stolen, resulting in a complete loss for the trader. Since exchanges deploy powerful and specialized security measures, when custody of an account or wallet is at their end, this greatly increases the security of the account or wallet.
Error in Algorithm: If there is a problem with the algorithm, the trading bots would no longer generate profits but losses and probably won’t improve over time.
On AI trading platforms, which assets can I trade?
There are currently many assets that investors can trade on platforms powered by artificial intelligence (AI).
Stocks: Today, stocks are among the most frequently traded instruments on AI trading platforms. With an AI trading platform, a trader can quickly trade many stocks and prevent emotionless trading by making trades early.
Cryptocurrency: Cryptocurrency trading is a highly volatile market that is gaining popularity. The 24/7 trading hours make it difficult to enter and exit the market at the right time. Due to these reasons, using AI trading platforms can benefit a crypto trader trying to capitalize on new technologies and enter the market at the right time.
Forex Trading: Like cryptocurrency trading, forex trading is a highly volatile market where most buyers use artificial intelligence to make automated entries and exits. CFDs: AI platform also offers a contract for differences (CFD) trades. Short-term traders like CFDs as they enable them to trade the movement of specific securities.
How much do AI trading providers charge in fees and commissions?
Platforms that provide traders with AI trading platforms charge fees and commissions since they provide everything they need to execute a trade and solve many issues.
An AI trading platform charges two types of fees.
Flat Fee: Users could pay a monthly subscription fee or an annual fee to access the trading platform services. In the event of non-payment, the trading platform will be suspended.
Commission Fee: Besides the monthly/annual fees, the AI trading platform charges a commission fee. Subscription fees are fixed, but commissions vary based on the number of trades executed.
AI trading fees: Besides trading fees and commissions, AI trading platforms may also charge fees associated with deposits and withdrawals. If they have an AI algorithm that outperforms the market significantly, some platforms will charge additional fees based on their intellectual property profits.
Before opening an account on any AI trading platform, it is highly recommended that the trader first researches the fee structure of the various platforms and compares the charges depending on the type of service provided by each platform before deciding to open an account.
Minimum Deposit Requirement:
To open the account, the trader must deposit a certain amount of money into the AI trading platform’s account, and some platforms do not charge monthly or annual subscription fees.
For example, eToro, a major trading platform, requires its traders to deposit a minimum of $250 to open an account.
When choosing an AI trading site, what should I look for?
A trader should consider several factors before choosing a platform that uses AI.
Spreads and Commissions: The trader’s foremost concern should be the spreads and commissions in selecting an AI trading platform. If he chooses an exchange with higher spreads than the other platforms, he will pay more on every purchase and sale.
Leverage: Platforms that provide traders with high leverage opportunities are often attractive to traders. Due to leverage, traders can make large profits even with small investments. Nevertheless, leveraged trading can be risky if the market goes against you, as losses are likely to occur on a leveraged basis as well.
Customer Support: Good customer service is considered a mandatory requirement for any AI trading platform, and traders frequently praise those platforms which provide top-notch customer service. Traders’ trust in a platform is lost when they do not resolve their queries timely or provide inefficient support. Therefore, traders should look into customer support before choosing a platform.
Regulation: It is also important for traders to know its licensing. Ensure the platform is compliant with regulatory bodies and holds the necessary licenses.
Research and Technical Analysis Tools: It is also important to consider whether a trading platform offers research and technical analysis tools because they allow you to make informed decisions and educate the trader. However, some might argue that this feature is less significant when choosing automated machine learning or artificial intelligence strategies.
Recently, AI technologies have gained a lot of traction. As AI algorithms mature, several AI applications have been developed, including self-driving cars, entertainment systems, robotics, etc.
Finance and trading are also enjoying a lot of success with AI implementations. We are seeing lower fees in financial services because of competition. At the same time, systems are getting better and more technological.
Consider exploring AI trading platforms if you are interested in investing, and get ahead of the competition by leveraging cutting-edge technologies.
AI trading platforms – what are they?
AI trading platforms help traders make investment decisions by using trading tools that are enhanced with artificial intelligence. Platforms like these typically use Machine Learning algorithms and statistical functions that continuously improve themselves without explicit programming. The most common systems used in AI trading platforms are pattern recognition, recommendation engines, big data analysis, and clustering.
On an AI trading platform, what assets can I trade?
Investors can choose from various asset classes on the platform, including stocks, cryptocurrencies, commodities, and index-based products.
Do AI trading platforms offer commission-free trading?
AI-powered trading platforms typically charge small fees for trades, deposits, and withdrawals. You should review the list of fees and commissions provided by your chosen platform.
How much is the minimum deposit at AI trading platforms?
The answer depends on the platform. A few AI trading platforms allow the use of very small amounts, such as $10, but others require $100 or even $1000. It is best to check the minimum deposits when signing up.
Can trading platforms for AI be regulated?
There are a lot of AI trading platforms that are regulated; it depends on the country in which they are operating and the platform itself. Each AI trading platform on this page is regulated by at least one body.