Forex Brokers with Autochartist
Richard Montana | November 18, 2022
With there being so many trading brokers to choose from, they need to offer innovative features to try and attract new traders. There is a selection of brokers with Autochartist which does exactly that. It is considered one of the most advanced tools across financial markets in the world. Because it is such a powerful for conducting comprehensive market analysis, some traders will actively seek out an Autochartist broker and use that as an incentive to open an account with them.
What is Autochartist?
Autochartist is a trading software which can identify chart patterns using technical indicators such as Fibonacci retracements. It monitors the markets 24 hours a day, alerting you to trading opportunities in real time. This can save you lots of time spent analysing charts and improve your knowledge of the markets in the process.
Though it is an interactive charting tool much like the highly popular TradingView, Autochartist also provides several advanced features that help keep users up to date with the latest trade setups and chart patterns. It can be used for any type of market analysis, including technical, fundamental and price action analysis.
This tool incorporates several features, like Powerstats, which offers traders significant statistical information about the instruments they wish to trade. It also assists traders in setting up stop loss or take profit positions, in accordance with their risk appetite.
Autochartist provides many benefits to traders which include:
- Autochartist delivers 1000+ actionable trade opportunities per month in financial markets such as forex, indices, commodities, stocks, cryptos and futures
- Charts patterns along with Fibonacci patterns and key price levels are identified in real-time whilst markets are open
- Traders get huge time-saving benefits by having Autochartist continuously scan the market for fresh, high-quality trading opportunities
- Visual Quality indicators give novice traders a better ability to interpret patterns, while it enables the more experienced traders perform advanced search functions
- Plenty of research and education material is available on the Autochartist web site and web interface. Users get access to handy articles, videos, eBooks, webinars and more.
How to use Autochartist?
Autochartist is an automated market scanning program, designed to save you time by analysing the markets on your behalf. You can simultaneously scan all of your favourite trading instruments across various asset classes including forex, stocks, indices, commodities and cryptocurrency.
However, Autochartist is not capable of executing trades for you. While it can highlight a potential trade, it remains up to you to open and close your positions, perhaps in agreement with what the Autochartist software has suggested or made you aware of.
You can always conduct additional market analysis to confirm each Autochartist signal before taking a position. I think this is important as I like to understand exactly why each trade was taken. It can also help you to improve your trading skills and become a better trader in the long run.
Autochartist is easily integrated with the industry standard CFD trading platforms in MetaTrader 4 and MetaTrader 5. Its advanced recognition engine is used to not only identify potential trading opportunities but also predict future price movements.
Most Autochartist forex brokers integrate this software automatically with their MetaTrader platform. Some brokers have it already installed whereas others will provide you with some simple setup instructions to install it within minutes.
The process for installing on MT4 requires downloading of an Autochartist plugin and double clicking of the installation to select the language. It will then be installed into the MT4 file on your computer. Autochartist MT4 plugin Identifies the best technical charting set ups on all available currency pairs.
In case your broker is using MT5, you need to add the Autochartist URL into the “Allow for WebRequest” for listed URL field in the Expert Advisor or EA options configuration window. Once this is done. Autochartist will be available under the EA window. The next step is to drag and drop the tool’s web indicator directly on your trading platform. You can then launch the application automatically in a new window, with no need to sign-in again.
Is Autochartist any good?
Yes, for sure. Autochartist is one of the best trading tools for conducting in-depth market analysis and getting automated buy or sell signals according to your own preferences. It can help you to focus on the trade by removing market noise and highlighting the currency pairs, data intervals and technical indicators that signify key market events.
Autochartist incorporates easy to understand, powerful market scanning tools that highlight the best trade opportunities, thereby helping traders to make quick but informed decisions. Trading Central is perhaps the main competitor when it comes to detailed market analysis and automated trading signals.
Autochartist can be used by beginners, since it allows them to incorporate and use technical analysis for their trading decisions. On the other hand, experienced traders can benefit from large volumes of information being scanned to identify trading opportunities.
How much does Autochartist cost?
Autochartist is free to use but it is actually not possible to access the software as an individual trader or investor. The service is only accessible through professional trading brokers and services, which can choose to include Autochartist with their trading accounts or in subscription packages.
Some Autochartist brokers might require you to make a minimum deposit or trade a specific amount each month in order to get access to the software. However, it is such as useful trading tool that I think it is definitely worth using if it is within your reach.
Best Autochartist brokers
You will find that some of the best trading brokers in the industry use Autochartist. This is because they know just how helpful it can be to their clients. If traders are using Autochartist and it improves their trading strategy performance, they are more likely to place more trades. This means there is more profit for the broker in terms of commission fees and spreads.
ASIC, BaFin, CFTC, DFSA, FCA, FINMA, FMA, FSA, FSCA, JFSA, MAFF, MAS, METI, NFA
- Actionable trading signals
- Track all of your favourite instruments
- Covers multiple asset classes
- Lots of comprehensive market analysis
- Technical, fundamental and price action analysis
- Get signal alerts sent to your mobile devices
- Quick and easy to install
- There will be some false signals
- You need to control your decisions
- Always need to have good money management
- Not all trading brokers provide it
Conclusion: do I need to use an Autochartist broker?
If you don’t want to spend countless hours learning how to identify bullish and bearish signals across lots of financial instruments and chart timeframes, Autochartist could be very beneficial.
It offers easy to understand, powerful market-scanning tools which highlight the best trading opportunities, helping traders to decide, in an instant, what and when to trade. Of course, the final decision is in your hands, but it can certainly inspire you to discover trading opportunities that you may have otherwise overlooked.
What’s more, it is free to use provided you use an Autochartist broker like those we have listed above. I think if I had a choice between 2 brokers with one providing the software and another not, I would certainly choose the broker with Autochartist, all else being equal.
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