Whether it’s forex, stocks and shares, cryptocurrencies, commodities, or CFDs – the online trading space is now home to hundreds of Artificial Intelligence trading sites. People show interest in AI trading bots as they become relatively easy to use.
While this is good for you as a trader, knowing which site to sign up with is no easy feat. This guide unravels the positively reviewed AI trading bots and explains what to look for when selecting a site.
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What is AI trading?
In its most basic form, AI trading is the process of buying and selling assets in an automated manner. The phenomenon is based on the art of artificial intelligence, with the underlying algo trading via pre-programmed conditions. These conditions center on ‘what/if’ scenarios, meaning that the AI bot will only buy or sell an asset if certain metrics meet. Unfortunately, we didn’t have a chance to try any AI trading bots, so we can’t make a statement that will cover the mentioned claim.
How does AI trading work?
AI trading sites appear to use underlying technology that can scan thousands of markets at any given time – looking for potential trading opportunities.
For example, a well-programmed AI website bot might base its trading decisions on the Relative Strength Index (RSI) and place buy orders when a certain asset triggers an RSI of 75 or more. In fact, the possibilities are probably virtually endless in the AI trading space.
Now that we outlined the definition of AI trading let’s see how it might work in practice.
Example of an AI trade
Let’s say the AI bot is programmed to place a buy order when GBP/USD hits 1.3145. Irrespective of market conditions, the bot will only place a buy order when the trigger price is met. Similarly, the bot might be instructed to place an automated sell order at 1.3190 and 1.3076, which covers both stop-loss and take-profit orders.
What are the benefits and risks of AI trading bots?
Benefits
- Buy and sell assets from the comfort of your home
- Hundreds of different AI trading sites active in the market
- Thousands of financial instruments available to trade
- Use everyday payment methods to deposit and withdraw funds
- Trading fees and commissions are super-competitive
Risks
- Newbie traders often lose money
- Not all AI trading bots are credible
- You will need to meet a minimum deposit amount
Most Talked-About AI Trading Software of 2024
An AI trading site is an online platform that allows you to buy and sell assets autonomously. In other words, the underlying software will supposedly place trades on your behalf – which appears to be perfect if you have little experience in the online investment arena.
Below, we present the positively reviewed AI trading sites you can use to make automated investments. Before you read about all these trading sites, keep in mind that we didn’t test any of these tools, and we cannot confirm the statements made by their websites.
Bitcoin Rush
Bitcoin Rush has been on the market since 2013. It’s a Bitcoin trading system that claims to use AI technology to bet on bitcoin’s price. Like many other trading bots, you need to invest a minimum of $250 if you want to start trading. According to the website, each investor can earn an average daily profit of $1500. Is this true? Well, we can’t claim that since we haven’t tested the platform.
Bitcoin Rush plays the card of a computer algorithm that allows it to predict price movements and thus help users to make the most of their stakes. There are both positive and negative reviews where opinions differ. Some would swear on Bitcoin Rush, while others will accuse this trading bot of losing everything. That’s why users always need to keep their guard and act carefully.
Cryptocurrencies are unregulated. Trading with unregulated brokers will not qualify for investor protection.
Quantum Code
Quantum Code is a fully automated trading robot that can be accessed through smartphones. It is said that users who traded on this platform gained huge profits in a short period. Some online reviews are in favor of this trading bot since they claim this trading bot has a user-friendly design. But remember that the platform’s design isn’t something you should pay too much attention to. Of course, it’s important to use a platform that guides you through everything, but the most important thing here is the security of the platform.
Quantum Code assures to provide 24-hour customer support. Users want to feel protected, and that’s what, according to the website, this trading bot provides. We didn’t test the platform, so we can’t say if that’s true.
Cryptocurrencies are unregulated. Trading with unregulated brokers will not qualify for investor protection.
NFT Profit
When it comes to NFT trading, there is an NFT Profit trading bot to save the day. Non-fungible tokens are quite popular, and more people are interested in investing in this kind of asset. That’s why NFT Profit is invented. The website states that it provides an opportunity for capital growth with the help of an algorithm that analyzes the digital art market. This trading bot is not meant to trade cryptocurrency but NFTs. It says to monitor social media trends and activity to predict movements in the floor price of NFTs.
The website has positive reviews, although we haven’t verified the claimed earnings and profitability. That’s why we advise starting with the minimum deposit and testing out the withdrawal process to check if it works as described.
Cryptocurrencies are unregulated. Trading with unregulated brokers will not qualify for investor protection.
Bitcoin Millionaire Pro
If you are looking for the trading platform suited for beginners, online reviews say to go with Bitcoin Millionaire Pro. The website claims you can never get stuck or lost on its platform. The bot says to come up with a guide to help users set up trading accounts quickly and trade successfully. Guides can be useful only when checked and previously tested by others.
According to the website, Bitcoin Millionaire Pro relies on AI technology to conduct trading research and execute trades. As per investing and gaining profit, this trading bot allegedly helps traders to generate huge returns from Bitcoin trading. We couldn’t verify such claims because we didn’t test the platform.
Cryptocurrencies are unregulated. Trading with unregulated brokers will not qualify for investor protection.
Bitcoin Investor
Another bitcoin trading bot that claims to rely on computer algorithms is Bitcoin Investor. This algorithm apparently helps investors make thousands of dollars in profits per day by making investment decisions for them and placing corresponding trades. How so? It appears that algorithm analyzes big data in the bitcoin markets to predict the price of Bitcoin and make bets in that direction.
As per the platform, some online reviews say it’s transparent with great customer service. Having helpful customer service and someone 24 hours a day by your side means a lot, especially if you are new to trading. We can’t say that’s the case with Bitcoin Investor because we didn’t try the platform.
Cryptocurrencies are unregulated. Trading with unregulated brokers will not qualify for investor protection.
Bitcoin Blueprint
Bitcoin Blueprint is a Bitcoin trading robot that applies high-frequencies trading strategies. These kinds of robots are known to generate huge daily returns. On average, Bitcoin Blueprint users report generating an average gain of $1500 per day. Some online reviews claim that Bitcoin Blueprint generates 9 out of 10 times and operates fully transparently. We can’t say if that’s the case with Bitcoin Blueprint since we didn’t test the platform.
This trading bot was allegedly founded by an ex-wall street trader named John Quigley. We didn’t find any additional information that connects Bitcoin Blueprint to any wall street traders. Bitcoin robots are sometimes linked to people specialized in certain fields with the intent of attracting more users. It doesn’t mean that’s the case with Bitcoin Blueprint, but be careful and always investigate more.
Cryptocurrencies are unregulated. Trading with unregulated brokers will not qualify for investor protection.
Ethereum Code
Ethereum Code is a trading bot that says to offer incredible service and provides lots of helpful information. The website claims to use the power of algorithmic trading technology and takes advantage of the volatile nature of the cryptocurrency market. According to the website, users don’t need to develop specific strategies and settings to start the robot. It appears that the platform operators set up everything for their users. But we didn’t check it, so we can’t say if this is true.
Ethereum Code says to offer user guides and demo trading for beginners. Demo serves to familiarize with the platform before live trading. The minimum deposit is $250, and we advise you not to go above that amount for a starter.
Cryptocurrencies are unregulated. Trading with unregulated brokers will not qualify for investor protection.
BitVestment
Another trading bot that appears to be great for beginners is BitVestment. There is a BitVestment app that makes the entire trading process easy. Unfortunately, we didn’t find any info regarding the minimum deposit, but it says to be one of the most profitable trading platforms in the industry. It appears to combine top-tier trading innovations, technology, and analytics tools to execute trades.
According to the platform, BitVestment’s main goal is to make trading easier, more convenient, and more efficient. For that reason, BitVestment seems to have a simplified and user-friendly interface suited for new and experienced investors. This way, traders are spared many confusing steps.
Cryptocurrencies are unregulated. Trading with unregulated brokers will not qualify for investor protection.
Bitsoft360
Bitsoft360 is signed as a genuine trading bot because it appears to help traders generate gains on the market and increase their possibilities of earning substantial returns. It claims to help users track their crypto trading process. Not so many trading bots have this option. That’s probably one of the reasons this trading bot seems popular among traders.
Several online testimonials have attested to the platform’s efficiency and ease of use, although there is no way to verify these claims. In order to make sure this is true, users need to sign up on the platform and start using it. We haven’t used the platform; therefore, we can’t vouch for any of the following claims.
Cryptocurrencies are unregulated. Trading with unregulated brokers will not qualify for investor protection.
Bitprime Gold
Bitprime Gold is a bitcoin trading robot claiming a 90% win rate. It is not as high and unrealistic sounding like some other trading robots. Besides Bitcoin, it can trade other altcoins such as Bitcoin Gold, Litecoin, Dash, and ZCash. These altcoins can be traded using the same limit orders, market orders, and take profit orders Bitprime Gold uses.
Bitprime Gold user testimonials are limited to social media reports and winning screenshots on Facebook, Twitter, and other social networks. You should be cautious because some of these might be fake and unreliable. All these testimonials may be a part of an organization to deceive people and lure them to invest money. Hence, stay alert and insure yourself before starting trading.
Cryptocurrencies are unregulated. Trading with unregulated brokers will not qualify for investor protection.
Today Profit
Today Profit is a trading bot where software specializes in trading Ethereum, Bitcoin Cash, Bitcoin, and some major stocks (e.g., SPX). This trading bot claims to be able to make automated trading decisions without human error. Since it’s relatively new, not much information is available on this robot. That’s why you need to be careful and only invest what you can afford to lose before committing to a larger investment.
Some clone sites link Today Profit to Gordon Ramsey, although we didn’t find any information that connects them. Be careful when you come across sites that connect celebrities to trading robots because they are mostly used for marketing.
Cryptocurrencies are unregulated. Trading with unregulated brokers will not qualify for investor protection.
Bitcoin Prime
Another auto-trading system that allegedly generates enormous profits is Bitcoin Prime. Since the robot’s functions appear to be automated, the robot is easy to operate. It has reportedly helped hundreds of users earn over $1 million each. This trading system seems to provide the easiest, safest, and most profitable way to invest in Bitcoin. We are unsure whether this is true because we didn’t try the platform. Bitcoin Prime profitability is said to be tied to crypto volatility, so you are probably to earn more money if you can time the volatility. Also, remember that crypto trading is not easy, and it takes a lot of skills and sometimes luck to get what you wish for and not lose everything along the way.
Cryptocurrencies are unregulated. Trading with unregulated brokers will not qualify for investor protection.
Bitcoin Aussie System
A Bitcoin Aussie System is a trading bot that plays on a technical infrastructure card. It says that, thankfully, to the algorithm, users are connected to several different binary options brokers who create trades based on the crypto value.
Bitcoin Aussie System claims to get amazing returns for people who invest cash. This trading bot says to use an algorithm that auto-trades for users. According to the website, funds are distributed to users based on how much each user invested upfront. When you start trading, we advise you to deposit a minimum of $250 until you gain experience. Some users claim they make thousands of dollars daily. Even though this sounds like a great opportunity to earn money in no time, trading crypto is not easy, and you shouldn’t rush.
Cryptocurrencies are unregulated. Trading with unregulated brokers will not qualify for investor protection.
Bitcoin Thunderbolt
Bitcoin Thunderbolt is an automated cryptocurrency trading platform launched in 2015 that claims to enable the smart trading of cryptocurrencies. Its main goals are to simplify trading and make economies inclusive. According to some online reviews, the platform allows traders to keep trading operations using global crypto marketplaces.
It promises 24/7 customer service with the use of a demo account to help traders get familiar with the platform. The minimum deposit is not specified as well as the withdrawal processing time. Bitcoin Thunderbolt vouches for a reputation for safety and allows its users to trade smartly and profitably. Online reviews differ, and there it’s unclear whether this trading bot is worth your time.
Cryptocurrencies are unregulated. Trading with unregulated brokers will not qualify for investor protection.
Quantum Pro 360
Quantum Pro 360 appears to rely on specially developed software that uses AI to act for users. AI is presented as a fundamental advantage of this trading bot because it says to help trading robots improve and understand the market so they can trade easily. Quantum Pro 360 claims to combine intuitive trading features with educational resources to try and provide crypto traders a space in the market. Also, beginner and experienced traders are said to be welcome to try this platform since it seems simple and convenient to access all the features of the platform.
There aren’t many reviews about this trading bot, so doing additional research before investing is not a bad idea. We haven’t tried the platform, so we can’t vouch for any claims this trading bot presents.
Cryptocurrencies are unregulated. Trading with unregulated brokers will not qualify for investor protection.
What assets can I trade on AI trading bots?
The specific assets you can buy and sell in online trading will vary from broker to broker. This normally centers on currencies, CFDs, traditional stocks, and shares. To give you an idea of the types of assets you can likely trade online, check out the list below.
Stocks and shares
Some AI bitcoin robots are said to offer thousands of equities from multiple markets. Before you make a deposit, you will need to explore whether your chosen site sells stocks in the traditional sense or via CFDs.
If it’s the former, you will be entitled to dividends as and when you pay for them. If you opt for CFD trading, you are merely speculating on the future price of the shares, meaning you do not own the underlying asset.
Nevertheless, the most common stock exchanges that you can buy stocks from at an online trading site are:
- New York Stock Exchange (NYSE)
- NASDAQ
- London Stock Exchange (LSE)
- Tokyo Stock Exchange (TSE)
- Toronto Stock Exchange
- Euronext
Forex
AI trading sites will probably give you access to trading major pairs like GBP/USD, GBP/EUR, and USD/JPY – but also minors and exotics, some without fees or commissions. Instead, the only fee you pay is via spread – more on this later.
The main forex pair categories that AI trading providers are likely to allow you to buy and sell are outlined below:
- Major Pairs: These are the most traded currencies globally. Think along the lines of the US dollar (USD), British pound sterling (GBP), Japanese yen (JPY), and the Euro (EUR). Major pairs are in strong demand, with high volumes, low volatility, and super-tight spreads.
- Minor Pairs: Minors still consist of in-demand currencies, but a less liquid currency will represent one side of the pair. For example, in the case of AUD/USD – the US dollar is significantly stronger than its Australian counterpart. As such, spreads are slightly higher – as is volatility.
- Exotics: Exotic pairs will consist of one major currency and a currency from an emerging economy. This might include JPY/NOK – consisting of the Japanese Yen and Norwegian Krone, or EUR/TRY – the Euro and Turkish Lira. Exotic pairs typically suffer from huge spreads, high volatility, and lower trading volumes.
CFDs
CFDs allow you to speculate on the future price of an asset without needing to own or store it. For example, let’s say you wanted to invest in the future oil price. Physically owning dozens of oil barrels would be beyond the realms of possibility. As such, by owning a CFD in oil, you can speculate on its future price at the click of a button.
Below are some of the asset classes that AI trading providers seem to support.
- Stocks and shares
- Precious metals (gold, silver, etc.)
- Energies (oil and natural gas)
- Futures and Options
- Agricultural assets (wheat, corn, etc.)
- Indices (dow jones, s&p 500, etc.)
- Penny stocks
What fees and commissions do AI trading providers charge?
So now that you know the types of assets you can buy and sell online, we will explore some of the AI trading fees you need to be aware of.
Spreads
All the trading platforms with AI, like Bitcoin Evolution, will charge an indirect fee known as the ‘spread.’ The spread is the difference between an asset’s ‘buy’ price and the ‘sell’ price. Although the specific buy/sell prices will change second-by-secondly, the spread will rarely deviate. The only exception to this rule is if you attempt to trade outside of standard market hours – where you will likely find the spread increases.
The main concept of assessing the spread is:
- You want to use AI trading sites that offer tight spreads
- The lower the spread, the less you are indirectly paying in fees
- Similarly, the higher the spread, the more it costs you to trade
In order to calculate the spread, it’s best to look at the percentage difference between the buy and sell prices. In the case of forex, this is expressed in PIPs. However, to keep things simple, we’ll stick with percentages.
Example of the Spread
Let’s say you want to trade natural gas at an online trading site.
- The ‘buy’ price of natural gas is $2.13
- The ‘sell’ price of natural gas is $2.10
- This means that the difference between the buy and sell prices is 1.42%
As per the above, if you were to place a buy order at $2.13 and immediately change your mind – you would need to place a sell order at $2.10. In Layman’s Terms, this means you would make a loss of 1.42%. As a result, you need your trade to increase/decrease by at least the spread percentage to break even.
Trading commissions
On top of the spread – most AI trading sites will probably charge a commission every time you place a trade. We say “most” – as several brokers now allow you to buy and sell assets without paying a fee. Nevertheless, if trading commissions are charged, you will need to pay a fee at both ends of the trade.
By this, we mean you’ll pay a fee when you purchase the asset and then again when you sell it. In most cases, the fee is calculated as a percentage of the total size of your order.
Example of trading commissions
Let’s say you are looking to trade Nike stocks at an online trading site. The site charges a 1% trading commission.
- You decide to buy $1,000 worth of Nike stocks
- At a trading commission of 1%, you pay a fee of $10 ($1,000 x 1%)
- A few days later, your Nike stocks are worth $1,200, so you decide to sell them
- At a trading commission of 1%, you pay a fee of $13 ($1,300 x 1%)
As per the above, you paid a 1% trading fee at both ends of the trade – taking your total fees to $23.
Other AI trading fees
On top of spreads and commissions, the trading site might charge fees in other areas, such as:
- Deposit/Withdrawal Fees: A fee to fund your account, as well as make a withdrawal. The specific fee might vary depending on your chosen payment methods. For example, debit/credit cards are usually more expensive than bank transfers.
- Minimum Trade Amount: A fee to be paid if you do not meet a minimum trade amount. For example, you might be charged $10 if you don’t make at least $10,000 worth of trades.
- Overnight Financing: Overnight financing fees will only apply if you decide to apply leverage to your trades. If you do – and you keep the trade open overnight, you will need to pay a fee. Leverage operates like a loan from the broker to the trader, so the fee is charged as a percentage of the amount you borrow.
What should you look for when selecting an AI trading site?
So now that you know the ins and outs of AI trading, let’s analyze the most important factors you need to look out for when choosing a platform that meets your needs.
- Regulation: If a top-tier licensing body does not regulate the trading site – avoid it at all costs. Using a regulated trading site will ensure that the broker engages in ethical trading practices, complies with all respect laws on anti-money laundering and fraud, and keep client funds in segregated bank accounts.
- Eligibility: You also need to ensure that you are eligible to join the trading site. For example, brokers will normally stipulate what countries it supports.
- Asset classes: Be sure to check how many financial instruments it lists within your chosen asset class. For example, it’s all good and well if the broker offers stock market indices, but if it only lists the S&P 500 and you want to trade the Dow Jones, it will not be suitable.
- Payment methods: Don’t forget to check whether your chosen payment method is supported, comes with any fees or minimum deposit amounts and tries to stick with AI trading sites that offer same-day withdrawals at no cost.
- Spreads and commissions: Stick with cost-effective brokers, so select a site that offers tight spreads. Furthermore, it’s crucial that you understand whether or not the broker charges trading commissions, and if they do – at what price.
- Leverage: While most AI trading sites allow you to trade on leverage, restrictions will apply. This might be based on whether you are a retail or professional trader. If you’re using a site based in Europe, you will probably have your leverage limits restricted – based on ESMA regulations. Make sure you check what leverage amounts the broker offered before signing up.
- Research and technical analysis tools: To succeed at trading, you should conduct fundamental and technical analysis. Fundamental analysis relies on analyzing real-world news events and how the event will impact the value of a particular asset or industry. Technical analysis concerns using advanced charting tools to determine which way the markets are likely to go. Select an AI trading site that offers as many tools as possible to give you the best chances.
- Customer support: Opt for a platform that provides good support, if possible, on a 24/7 basis. The most convenient support channel is of live chat, although some of you might prefer telephone support or email.
Conclusion
The online investment arena is now home to hundreds of different AI trading bots. As the space gets increasingly competitive, brokers are upping the ante by offering low fees, heaps of payment methods, tight spreads, top-grade customer support, and more.
However, knowing which trading site to sign up with is not easy. This is why we recommend you select an AI trading site by considering your trading needs and personal circumstances.
Finally, remember that just like Bitcoin Casinos, trading comes with a risk, so always install the required stop-loss orders to mitigate your risks, and do not invest more than you can afford. We didn’t test any AI tools and we can’t recommend which one to choose. Therefore, you should investigate further.
FAQs
An AI online trading site is a broker that allows you to buy and sell assets at the click of a button. This includes desktop devices, mobile trading, and downloadable software.
Most AI trading sites will support both forex and CFDs. This includes dozens of currency pairs like GBP/USD and EUR/GBP, and thousands of CFD products like stocks, energies, old, silver, indices, cryptocurrencies, and more.
Yes and no. While commission-free sites will not charge you any commissions to buy and sell assets, you will still need to pay an indirect fee via the spread. Some fee-free sites are known to offer wide spreads, so do bear this in mind.
This will vary from broker-to-broker. Some AI trading sites allow you to get started with as little as $5, while others will ask for $100 or more. You should check this before opening an account.
The vast majority - including all of the sites that we recommend, are licensed by at least one licensing body. This might include the UK's FCA, CySEC in Cyprus, or ASIC of Australia. What is an AI online trading site?
What assets do AI trading sites offer?
Are commission-free AI trading sites free?
What is the minimum deposit amount at AI trading sites?
Are AI trading sites regulated?
