This website uses cookies to ensure you get the best experience on our website. You may read the full details in our Privacy Policy

Blog

Forex Tip: What are Trading Bots?

Trading can, at times, be very intensive. 

Then it gets even more challenging for more would-be traders. 

Before you start making money consistently, they must make ends meet and therefore maintain their day job. 

For those who aren't working, staying glued on your trading the whole day while keeping track of various trading charts can be overwhelming.

The good news is that Forex is versatile, and solutions are abundant, especially when the repetitive processes are automated using 'Trading bots.'

Trading bots are algorithms that interact directly with a trading platform through APIs. 

Since robots require pre-setting, Forex trading bots must be tuned to work per set parameters. These may be drawn from technical indicators and integrate other algorithms and be overly configured to identify certain tendencies and autonomously operate trades.

Trading bots can serve various purposes like automating trading, assisting in analysis, acting as trade assistants, or relaying trade information.


Keen to learn the forex market? Check out our other explainer articles in our Learn Forex blog. 


Need Help? 

Our dedicated support team are ready to answer all your questions. You can email us, or visit our Live Chat 24/7.

The website is operated by a group of companies. 360 Degrees Markets Ltd and ISPASS Technologies Ltd are companies of this group.
ISPASS Technologies Ltd, a software provider, is a registered company in Cyprus, with registration number HE394419 and has its registered address at Nikolaou Nikolaidi 3, Flat/Office 205, Paphos 8010, Cyprus.

360 Degrees Markets Ltd is a registered company in Seychelles, with registration number 8421720-1 and has its registered address at Suite C, Orion Mall, Palm Street, Victoria, Mahe, Seychelles. 360 Degrees Markets Ltd is regulated by the Seychelles Financial Services Authority under the Securities Dealer license number SD019.

All payments through Skrill and Neteller are processed by 360 Degrees Markets Ltd.

AltumFx does not accept residents of certain jurisdictions such as USA, Canada, Iran, North Korea and Russia.

Since AltumFX is not under the supervision of the JFSA or ESMA, it is not involved with any acts considered to be offering financial products and solicitation for financial services to Japan or in the European Union countries and this website is not aimed at residents in Japan or in the European Union countries.

Risk Warning: Trading any kind of financial instrument, including derivatives, carries a high level of risk and may result in the total loss of your investment. You should only trade with money you can afford to lose. Trading derivatives may not be suitable for all investors. By trading with AltumFx, you acknowledge your understanding of this risk warning and your agreement with the Terms and Conditions. AltumFx always recommends you seek independent advice if necessary.