Automated trading is an attractive option for very busy traders。In general, automated trading is similar to copy trading in that it automates your own trading plan rather than copying the strategies of other traders.。

Automated trading allows traders to apply specific rules for entry and exit orders, and then a computer program will do the rest。Once the conditions in the system are met, the order is executed。

Automated trading typically uses third-party software with direct access to the broker and must be connected to the trading platform。Since orders are automatically executed with minimal control, most traders prefer highly customizable systems to meet their trading needs。Once the conditions are submitted, any orders including stop loss and take profit are automatically generated。

Myfxbook is one of the automated trading systems that provides automated trading facilities and displays the signal selection of expert traders。Many brokers have established connections with Myfxbook to make it easier for traders to use its services。

Advantages of Automated Trading

Minimize emotional impact

With automated trading, traders can put aside emotional factors and let the computer trade according to a pre-established trading plan.。Since orders are automatically executed when conditions are met, without trader confirmation, there will be no missed opportunities due to fear of risk or being too ambitious。

Maintain consistency

Often, traders lose consistency because they are too afraid of losing money or want to take more risk than they originally planned。However, this will not happen with automated trading because it will react the same to the market and execute exactly as planned。

not miss any chance

The forex market is probably the most flexible as it is open 24 hours a day, five days a week。In automated trading, as long as the requirements are met, the computer will immediately react to market conditions。Therefore, no opportunity is missed even if the trader is absent。Remember, in Forex trading, a few seconds of change can make a huge difference。

Diversification

Automated trading can execute orders for multiple accounts at the same time, which means that traders can use several strategies at the same time and monitor several market conditions。Manual trading is difficult to do, but the computer can execute trades efficiently in a short time。

Backtesting

Automated trading is for traders who want to check the efficiency of their strategy。When designing a trading plan, all rules must be absolute and traders are not allowed to make personal interpretations。Automated trading systems cannot make guesses and are not affected by anything outside of the specified strategy。In manual trading, the trader can change the plan halfway, so the data obtained does not fully accurately describe the performance of the trading plan。

Advantages of Myfxbook

good reputation

Myfxbook has been in business for more than ten years and has a good reputation among traders. The system is also one of the first automated trading providers that can be connected to the trading platform。

Compatible with MetaTrader 4

MetaTrader 4 is the top trading platform used by traders worldwide。The broker affiliated with Myfxbook can directly connect the trader's MetaTrader 4 platform to the system, which is very convenient to use。In addition, if you register as a follower, Myfxbook automated trading can be performed automatically in your MetaTrader 4。

Social transactions

If you are interested in social trading, Myfxbook also provides a very active discussion forum for followers to track, compare and analyze the performance of signal providers。Similarly, Myfxbook also allows signal providers to gain as many followers as possible。

Accurate statistics

Compared with other systems, Myfxbook provides very accurate statistics, so many signal providers like to choose this system to count performance。

Excellent trading system selection

Myfxbook offers a variety of unique features for identifying trusted and reliable signal providers, not allowing demo account holders to become signal providers。So the signals do come from real traders who manage real accounts and have a good track record。Not only that, the system is also equipped with automatic filtering, which can eliminate underperforming trading systems。

Unlimited Demo Account

Traders can try the forex demo account for free without limit, which is very convenient for beginners who don't want to risk their money yet。

Cost transparency

Traders don't have to worry about transparency issues as Myfxbook always shows details of its services and fees。It also occasionally issues additional bonuses to profitable signal providers.。

Full, autonomous control

This may be the most important determinant for a trader before choosing an automated trading provider。Automated trading does not mean that traders will lose control of their orders.。In Myfxbook, traders are free to choose which strategy to use, how to manage their money, and what adjustments to make when market conditions are unsatisfactory。

Brokers with access to Myfxbook

IC Markets

IC Markets is an Australian broker founded in 2007 that offers a competitive selection of ECN trading accounts as well as high-tech trading services such as Myfxbook.。You can connect your account with Myfxbook once you register with the broker, after which you can continue to the next step by filling out the form on the Myfxbook website。There is no minimum deposit requirement for traders to obtain automated trading permissions。

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IC Markets is a private company in International Capital Markets Pty Ltd..) an online forex brokerage company operated under。Traders under Australian jurisdiction offer trading services at IC Markets-AU, which is based in Australia and licensed by the Australian Securities and Investments Commission (ASIC).。

On the other hand, non-Australian traders who open accounts with the broker are registered under the Seychelles-based IC Markets SEY and are regulated by the Seychelles Financial Services Authority (SFSA).。This dual operation is the result of the Australian Securities and Investments Commission's relatively new rules, which prohibit its regulated brokers from providing trading services outside Australia.。

IC Markets is classified as an ECN broker offering clients MetaTrader 4, MetaTrader 5 and cTrader as platform trading options。The broker also follows market trends with cryptocurrencies as one of its products, enriching its already wide selection of trading assets, including currencies, indices, metals, energy, software, stocks and bonds.。

IC Markets "minimum deposits are at a moderate level compared to other ASIC-regulated brokers, as each customer has a deposit of $200.。Market analysis materials are also regularly prepared for trading insights on the official website of IC Markets, proving their ability to provide traders with important content created specifically for the market experts they work for.。

For payment methods, IC Markets allows financing and withdrawals via wire transfers, credit cards, PayPal, Skrill, Neteller, FasaPay, UnionPay, and BitPay's Bitcoin。The more interesting aspect of the broker is its multiple base currencies, including the US dollar, Australian dollar, euro, British pound, Singapore dollar, New Zealand dollar, Japanese yen, Swiss franc, Hong Kong dollar and Canadian dollar。

Due to the trading technology of IC Markets equipped with highly centralized servers and extremely low latency (especially on cTrader), the broker is well known for its ability to host traders with special needs for high-frequency trading and order brushing。

In summary, IC Markets is the right destination for active traders looking for well-regulated brokers。IC Markets is also flexible in terms of base currency and payment methods, which demonstrates their commitment to welcoming traders from outside their home countries.。By the end of 2019, IC Markets was offering websites in 18 international languages, including English, Korean, Indonesian, French, Spanish, Italian, Malay, German and Chinese.。

FXOptimax

FXO ptimax may seem simple, but it covers the various needs of traders, including automated trading features。The broker recommends Myfxbook as one of the leading automated trading platforms and allows its clients to connect the MetaTrader 4 platform with Myfxbook in the members area.。

The steps to get access are very easy。First, register an account with the broker and meet the minimum deposit requirement of $1,000。Then submit a connection request to customer support。You will need to complete a form with your login data such as MT4 account number, server and password。

Tickmill

Tickmill is not only compatible with scalping conditions, but also provides facilities for automated traders。Through a partnership with Myfxbook, Tickmill allows traders to connect MetaTrader 4 directly with Myfxbook。To activate this service, you only need to submit a request via email after registering your account。In other words, you don't need to deposit any deposit first。However, you will need to submit an application so that Tickmill can configure your account with the Tickmill Myfxbook automated trading feature。

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Tickmill is an award-winning global ECN broker licensed and regulated by the Financial Conduct Authority (FCA), Cyprus CySEC and the Seychelles FSA。Founded in 2014, the company offers a variety of trading services to retail and institutional clients with a focus on foreign exchange, equities, commodities, CFDs and metals.。

For traders who prioritize spread value in broker selection, Tickmill offers premium services with low spreads, from 0.From 0 o'clock。

The London-based company's mission is to provide clients with the best possible trading environment so that they can focus on trading and become successful traders, such as offering 0.15 seconds of quick execution。With this setup, Tickmill gets CFI.Best Forex Executive Broker Award 2019 from co Awards。In addition, Tickmill has been awarded "Best CFD Broker in Asia 2019" by International Business Magazine, "Best Forex Broker in Asia" by Forex Awards and "Most Transparent Broker in 2019."。

After registering with Tickmill, traders can choose the most desirable asset among the 60 currency pairs available for trading。If the trader is not yet sure whether to open a real account, Tickmill recommends learning to trade through a demo account。

There are also educational features such as webinars, seminars, e-books and video tutorials。Traders can use all these facilities to increase their knowledge about trading and the financial markets in general。If traders already have enough knowledge, they have a greater chance of consistently earning profits。

For traders who sign up for a real account, they can choose to offer three types of accounts, including professional accounts, classic accounts and VIP accounts。Traders can take 0.01 minimum order opening。This applies to all types of accounts。

The company offers advice to traders who are still confused when choosing an account。For example, for novice traders, Tickmill encourages customers to opt for classic accounts。It provides the best conditions for fast order execution while enabling traders to use almost any trading strategy。In addition, the account does not charge a trading commission, so the trader only pays the buy / sell spread。In addition to the above three main accounts, Tickmill also offers Islamic accounts (free of overnight interest).。

At Tickmill, however, traders can only use MetaTrader 4 as their trading platform.。Although not much compared to other brokers, the Tickmill platform provides a user-friendly and highly customizable interface with sophisticated order management tools to help traders control positions quickly and effectively。

One-click EA integrated on MT4 enhances the convenience of Tickmill trading。Traders will automatically receive stop loss and take profit calculations; most importantly, Tickmill provides VPS hosting for automatic traders who do not need to worry about technical issues such as Internet connection。

They offer a variety of third-party research solutions, including Autochartist, a popular pattern recognition software that uses automated technical analysis to make predictions and generate trading signals.。Autochartist is available in the portal of Tickmill and as a platform plug-in for MetaTrader 4。

As a Tickmill customer, traders can deposit and withdraw money using multiple payment methods including Visa, Mastercard, Bank Transfer and Skrill。Tickmill accepts deposits and withdrawals in 4 currencies, including USD, EUR, GBP and Polish Zloty。

Overall, Tickmill is a competitive spread broker and offers a safe trading environment with its regulated entities located in three different jurisdictions.。Although the trading platform is not great, the analytical tools they provide to meet the needs of traders meet the standards of retail brokers。

FXOpen

Compared to other brokers, FXOpen does not clearly explain in detail how to register a trader account and connect it to the Myfxbook automated trading platform。If you want to gain access, you need to open a live trading account and link your MetaTrader 4 with Myfxbook according to the advanced instructions。

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FXOpen has been operating as an online trading provider for retail customers since 2005.。The company was founded by a group of traders with a mission to provide services in the interests of traders.。FXOpen claims to be one of the first companies to offer ECN trading via MetaTrader 4 (MT4)。With unique proprietary price aggregation technology, customers can benefit from the industry's most competitive spreads (from 0 points) and low trading commissions。

In 2006, FXOpen also became the first broker to offer micro and swap-free accounts.。Since then, they have gone on to become pioneers in a number of high-tech services, including the first crypto account that can offer trading facilities for 24 cryptocurrency pairs such as Bitcoin, Litecoin and Ethereum.。

In addition, the company also provides one-click trading and secondary MT4 plug-ins, allowing traders to trade with just a click of the mouse。Traders don't need to worry about trading security at FXOpen。They are registered with Nevis, FCA UK and ASIC Australia。

Provide STP, Micro, ECN and other trading accounts, as well as free unlimited demo accounts。Minimum deposit per account depends on account type; $1 for micro accounts, $10 for STP and cryptocurrency accounts, and $100 for ECN accounts。FXOpen also offers leverage up to 1: 3 (for cryptocurrency accounts) and up to 1: 500 (for micro, STP and ECN accounts)。

In addition, traders can enhance their trading capabilities with Myfxbook and Zulutrade automated trading systems.。Both services allow anyone to copy the trades of an experienced trader。Thus, a trader can replicate the results of a professional trader's strategy。

The FXOpen PAMM service allows transactions to be copied from the main account to one or more follower accounts and automatically distributes profits and losses。A professional trader operates personal funds through a PAMM account, his trading strategy is copied into the funds of his followers。The owner of the follower account can view and analyze the performance of the PAMM account with the help of advanced analytics。FXOpen has 3 PAMM accounts, STP, ECN and Crypto PAMM。

On ECN accounts, traders will receive direct quotes from leading liquidity providers, including Dresdner Bank, SG Paris, Standard Chartered, Barclays Capital, Bank of America, CRNX, JPMorgan Chase, Morgan Stanley, Deutsche Bank, Royal Bank of Scotland, Citibank and UBS Group。

After seeing the various advantages offered by FXOpen, traders can easily register an account by simply filling out the form in the registration menu of the FXOpen website。Traders will be required to verify documents in advance if they want to deposit or withdraw funds。According to the trader's experience and information, since the establishment of FXOpen, customers have not had any major complaints about payments (deposits or withdrawals)。

After registering with FXOpen, traders also have the opportunity to receive other benefits, such as the FXOpen cash return program within the first 90 days after new customer registration。Cash back minimum $5, maximum $1,000。

In addition, ECN, STP and crypto account holders can also use free VPS。Traders who can maintain a net worth of $5,000 at the end of the month or reach a monthly trading volume of $10,000,000 can use FXOpen VPS for 1 month free of charge。The advantages of VPS on FXOpen are excellent accessibility, flexibility and speed。

Trading on FXOpen becomes easier because traders can increase their insight into trading by participating in competitions。FXOpen Broker via ForexCup.com website offers weekly and monthly trading competitions on demo accounts, traders can participate in free competitions to hone their skills。If you want a bigger challenge, there are trading competitions on real accounts。

The company also offers a forex partnership program to traders, forex brokers and website owners who post information on fiat and cryptocurrency trading.。There are 3 types of partner levels, including using referral (affiliate) links, Forex rebates, and personal partner conditions to attract new customers to FXOpen's Forex agent。

All in all, FXOpen is a comprehensive forex brokerage firm for traders who want to try a variety of trading tools, the trading environment for ECN accounts, low minimum deposits, the best cryptocurrency trading conditions, and interesting trading features such as PAMM and mock competitions.。

Conclusion

Automated trading may be beneficial to some traders, especially those with tight schedules or multiple accounts, because it can execute orders more efficiently.。Myfxbook is one of the top automated trading providers with a high reputation and long track record for beginners and professionals alike。

However, the use of automated trading platforms still does not guarantee you complete protection from losses。Sometimes technical failures can occur and it is difficult to always monitor the entire process due to its automation。Therefore, before using the service, make sure that you have prepared a comprehensive trading knowledge and a manageable strategy that suits you。