Where traders are in search of the holy grail to get profitable, AI has come up with some excellent opportunities in the world of trading. With this thought in mind, there are hundreds and thousands of AI forex trading apps in the market, and eventually, you’ll bounce upon this question.
Which tool should I choose across hundreds of AI Forex Trading Apps?
Well, AI-powered Forex trading apps have changed the way traders used to trade in the market, offering a blend of advanced analytics, real-time data processing, and automated decision-making capabilities.
One of the major reasons why AI Forex Trading Apps can be a great resort for traders globally is because of NO EMOTIONS.
Yes!! No FOMO, No Greed, Completely disciplined tool on the basis of the commands you gave. In addition to this, AI can also manage risks effectively, and maximize potential for profits.
|Reality Check: These AI Forex Trading tools might offer immense potential, but they are not a magic bullet. Success in Forex trading still requires a solid understanding of market dynamics, a well-thought-out trading strategy, and a disciplined approach to risk management.|
Let’s get started with some of the best AI trading tools for Forex trading and learn how they are shaping the future of Forex trading.
10 Best AI Forex Trading Tools in 2023
|AI Forex Trading Tools and Apps||Pricing starts from|
|Trade Ideas LLC||$84/month|
|SignalStack||$0.59 per signal|
|Forex Fury||$299.99 (Lifetime)|
Being the winner in our list of best AI Forex Trading apps, Capitalise.ai is an automated trading platform that is designed to make online trading more accessible to a wider audience. It allows traders to automate their unique trading strategies using natural language, eliminating the need for advanced technical skills such as coding or algorithm development.
Capitalise.ai uses a Strategy Creation Wizard and a language interpreter that translates the natural English language into trading algorithms. This enables users to describe trading conditions and actions, which the automated trading software will automatically execute if and when that scenario occurs.
Capitalise.ai is currently free to use, with no fees, monthly payments, or security deposits required. However, the platform does not guarantee that it will remain free forever.
2. Trade Ideas LLC
Trade Ideas LLC listed as #2 among our best AI Forex Trading apps was established in 2003. It is a leading provider of AI-driven trading tools, serving investors, retail traders, and market professionals in over 65 countries. The platform offers a comprehensive suite of statistical analysis and pattern recognition servers that connect directly to exchanges, monitoring every tick for every trade on the NASDAQ, AMEX, NYSE, OTC, Pink Sheets, Penny Stocks, and Canadian markets.
Trade Ideas is designed to help users, whether they are beginner traders or experienced traders, to find hidden profit opportunities regardless of their risk tolerance or trading style. The platform provides education, practice, and support to help users become successful self-directed investors. It is trusted by some of the leading brokers and trading platforms in the industry, offering users a smooth trading experience.
Trade Ideas offers two main subscription plans: Standard and Premium. The Standard subscription starts as low as $84/month ($999/year). Whereas the premium plan is available at a cost of $228/month ($1999/year).
Securing the 3rd spot on our list of top AI Forex trading apps comes SignalStack, it is an order processing gateway that empowers traders and investors to automate order placement in any connected brokerage or crypto exchange. This platform is designed to convert any alert from any trading platform into an executed order in any brokerage account, automatically.
SignalStack is built on direct custom-made interconnections with major brokers and supports a wide range of third-party trading platforms using their WebHook alerts. It offers a simple, usage-based pricing model, meaning you only pay for the signals you use. The platform is designed to be user-friendly and fast to set up, requiring no coding skills. SignalStack is committed to reliability, offering a 99.99% system uptime guarantee, and provides advanced, developer-led support during market hours and emergency support options after hours.
SignalStack offers a simple, usage-based pricing model. After the first 25 free signals, the pricing is as low as $0.59 per signal. The pricing tiers are as follows: $1.49 per signal, $1.19 per signal, $1.09 per signal, $0.99 per signal, $0.89 per signal, $0.79 per signal, $0.69 per signal, and $0.59 per signal.
TrendSpider is an all-in-one, integrated trading platform designed to streamline and enhance the trading process for both novice and experienced traders. It combines robust charting, automated analysis, backtesting, scanning, and alerting in a single, user-friendly interface. The platform is built on the premise of putting technical analysis, backtesting, and chart watching on autopilot, thereby enabling traders to make faster and more consistent trade decisions.
TrendSpider provides real-time and historical market data, customizable interfaces, and a suite of tools designed to replace subjective mathematical analysis with mathematical precision. It also offers dynamic multi-factor alerts based on any combination of indicators or trend lines, with optional buffer zones and multi-timeframe capabilities, to avoid missing opportunities. Advanced backtesting capabilities allow traders to see how any trading strategy would perform on any chart using historical data.
TrendSpider offers three pricing tiers including Premium ($39/month), Pro ($59/month), and Pro Plus ($129/month). Traders can also opt for the yearly plan which would offer upto 6 months of free access to TrendSpider.
Composer is designed to simplify the process of creating trading strategies by breaking them down into building blocks that can be combined using a no-code visual editor. This allows investors to articulate their goals, strategy, and risk concerns in natural language, and the AI-assisted editor will create the strategy for them.
The platform is fully automated, executing your trading strategy, making trades, and rebalancing automatically. It also offers a community feature where users can see what others are creating with Composer, invest directly, or make changes. Composer is a fully automated trading execution platform, with no commissions on trades and a simple fixed monthly subscription.
Composer operates on a simple fixed monthly subscription model (Pro Plan) which is available at a cost of $30/month and $24/month (if billed annually).
RoboForex Ltd is a financial brokerage company that was established in 2009 and is regulated by the Financial Services Commission (FSC) under license No. 000138/437. The company is recognized as a reliable partner in the financial industry and has won numerous prestigious awards. RoboForex is a leading software developer in the Forex industry and is highly regarded based on client reviews.
The company provides balanced conditions for efficient trading on the currency and other types of markets, making it a popular choice among beginners and experienced traders alike. RoboForex is committed to providing outstanding benefits to its clients, including covering all expenses when clients deposit their trading accounts. The company also offers a demo account for testing strategies and transitioning from a demo account to real trading
Deposits and Pricing:
RoboForex offers a welcome bonus of 30 USD for standard and cent accounts with USD/EUR as their base currency, deposited into the account as soon as it is verified, and after the trader has deposited at least 10 USD. There are no fees for depositing money into a RoboForex trading account, and the broker offers clients more than 20 payment options to choose from.
StockHero is a highly-rated, automated stock trading software that offers users the ability to configure trading logic into “bots” via a user-friendly interface. The platform is designed to cater to both new and advanced traders, providing a seamless and intuitive experience for all users. StockHero operates as a Software-as-a-Service (SaaS) platform, meaning it executes trades via a connection to your brokerage, eliminating the need for users to deposit funds directly into StockHero.
The platform is cloud-based, removing the need for users to have a server or subscribe to a hosting company to run StockHero. The technology behind StockHero has been serving real traders since early 2021 and has executed more than a million trades over the last few years.
StockHero offers several subscription plans. The pricing for these plans ranges from $4.99 to $999.99. The platform also offers a free trial for the first 14 days.
Learn2trade is a leading platform in the realm of Forex and cryptocurrency trading, providing users with the necessary tools and knowledge to maximize their trading profits. This award-winning platform is regulated by the Financial Conduct Authority (FCA) and the Cyprus Securities and Exchange Commission (CySEC), ensuring a secure and reliable trading environment.
Learn2trade is designed to cater to both beginners and experienced traders. For beginners, the platform offers a wealth of educational tools to help them understand the trading process and make informed decisions. For experienced traders, Learn2trade provides a range of advanced features and trading signals to enhance their trading strategies.
The Learn2trade L2T Algo costs £58/month.
9. The Trading Analyst
The Trading Analyst is a premium options trading alert service that is run by veteran options traders. It is designed to help traders reduce losing trades and start trading with certainty towards consistent profitability. The service uses a swing trading strategy, focusing on options positions and common stock trades. The Trading Analyst identifies potential opportunities through a number of screening criteria, focusing on breakouts during periods of high volume in addition to the historic activity of the stock.
The key to their long-term winning strategy is proper risk management, which ensures that winning trades have a much higher profit than the losses incurred from losing trades. The service is designed to save traders time by removing the need to understand the markets and endlessly search for opportunities. Instead, it delivers easy-to-follow trade alerts in real-time, directly to the trader's fingertips.
The Trading Analyst offers three pricing options including monthly ($147), quarterly ($357), and yearly ($787).
Tickeron is an interactive marketplace that offers sophisticated AI-driven trading tools to investors and traders. The platform was founded by a team of Ph.D. mathematicians and quants who have spent several years researching and building AI-powered search engines capable of performing thousands of hours of investment research in minutes.
Tickeron's AI tools are designed to help retail investors gauge how well their portfolio is diversified by generating a Diversification Score®. The platform integrates several cutting-edge investment websites into a single financial super-community, creating the ultimate investor destination for financial information and portfolio management. Tickeron's user-friendly interface and advanced features ensure that users are always in control, making it easy to get started.
Tickeron offers 3 different plans including the Beginner Plan (Free), Intermediate One ($90/month), and Intermediate Two ($180/month). The plans can further be sub-categorised on the basis of Swing trader, Day trader, Investor, and Expert.
11. Forex Fury
Forex Fury is a highly effective automated trading robot designed for MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms. Released in early 2015, it has since been committed to helping clients grow their accounts by winning trades consistently and adapting to all market conditions. The software is the result of years of development by a team of Forex traders with a mission to create a winning robot.
Forex Fury has been recognized as the #1 rated Forex EA by various platforms including Benzinga, WikiJob, Forex Robot Nation, SourceForge, Biz Report, and LearnBonds. It is compatible with NFA, FIFO, ECN, MT4, and MT5 Build 600+ and works with any MT4/MT5 trading brokers. The software is designed to provide trading opportunities to traders of all skill levels, offering both safe and aggressive trading strategies.
Forex Fury offers a Gold Lifetime Membership priced at $299.99. This membership provides full access to the Forex Fury EA on 1 live account and unlimited demo accounts.
The AI Application in Forex trading and stock trading is one of the most advanced and much-awaited techs across traders globally. It won’t be wrong to say that Artificial Intelligence (AI) has significantly transformed the whole Forex trading scenario by enhancing efficiency, accuracy, and decision-making processes. AI's integration into trading processes has revolutionized the way traders operate by offering assistance at every stage.
AI technologies, such as algorithmic trading, empower traders to execute pre-programmed trades based on market conditions, freeing them from emotional biases. This is very similar to using a trading robot.
AI's predictive analytics capabilities harness historical data to forecast market trends, enabling traders to make informed decisions about future price movements. This is made extremely effective in forex trading due to the amount of data available for predictive analysis.
Neural networks, a subset of deep learning, excel at recognizing intricate patterns in data, helping traders uncover hidden opportunities. Additionally, data visualization tools offer dynamic representations of market data, aiding traders in spotting trends and making more intuitive decisions.
AI-Driven Trade Robots
AI-driven trade robots, known as autonomous trading systems, monitor the market for trading opportunities and execute them automatically on behalf of the trader. These robots use AI algorithms to decide on entering and closing a position based on custom parameters set by the trader.
AI can also assist in maintaining accurate trade records, making it easier to track performance and make informed adjustments. AI algorithms can then also be used to analyze trading journal entries to identify patterns of success and areas that require improvement. AI can accurately assess volatility and adjust hedges as necessary, providing real-time feedback on the current state of all hedges and related financial data.
Security and Transparency
As AI technology advances, the need for secure and transparent trading platforms becomes even more critical. To protect traders from investment scams, stakeholders must collaborate to establish robust regulatory frameworks and implement advanced security measures. Transparent trading platforms disclose the exact processes involved in executing trades, instill trust among traders, and foster a healthy and sustainable forex trading environment.
However, it's important to note that while AI in trading has made significant progress, there are still areas that require further development. Nonetheless, the potential of AI and machine learning in reshaping the financial landscape is immense, and understanding these transformative technologies is crucial for professionals and Forex traders alike.
Moving towards the end of this roundup, it is pretty clear that AI can be considered as one the most useful techs for traders globally. From a trader's perspective, one of the major issues that a beginner usually has to deal with is sticking to a certain strategy without being influenced by any of the emotions like FOMO, Greed, or managing your risk to reward; and one of the best things is these AI Forex trading apps and apps are free from emotions and work on AI algorithms.
It is worth mentioning that these AI apps and tools might offer you some assistance but it’s not a wise decision to completely and blindly rely on them as trading is one of the most difficult professions in the world.
Hopefully, you will find one of the suitable AI Forex Trading apps that align well with your trading strategies and operations.
Have a great trading session ahead!