Automata FX Overview
Regulation: Not Regulated
Minimum Deposit: $5000
Spreads From: 3 PIPs
Max Leverage: 25:1
Deposit Options

Automata FX Broker Review

Automata FX touts itself as the first automated FX broker in the world. The company purportedly spent an estimated $17 million on development, and it took 10 years to create the platform software. Automata FX is owned and operated by Global Profit Technologies, Inc. The automation allows FX traders to customize all aspects of their trading strategies. The absence of margin calls, no repricing, and plug-and-play functionality ensures that clients of all skill levels can benefit from the Automata FX platform. There are 3 unique ways to begin trading with this FX brokerage, including: a managed account for novices, an independent strategy for experts, and institutional trading for developers and traders. This Forex brokerage is a breath of fresh air in an increasingly populated online landscape.

Overview/ background

 

Automata FX™ began operating in 2015. The brains trust behind the company spent 10 years building the platform, and the wide range of tools which makes it possible for traders to enjoy a no-frills FX trading platform. This Forex brokerage offers a myriad of trading resources, and accounts with no upfront fees required. The methodology used by Automata FX is geared towards using proven strategies to deliver quarterly profit targets. The company which owns Automata FX – Global Profit Technologies, Inc – released the algorithmic trading software for Forex traders in 2015. The trading platform is fully capable of executing trades independently. At the time, Joseph Nemeth the chief executive officer and chief software architect of the company stated the following, ‘Automata FX will now have a unique offering through an exclusive licensing of our automated platform, which will position it as a very attractive option for an ever growing market for Forex traders.’

 

Account Types

 

There are 3 unique account options available to FX traders. These include The Managed Account, the Independent Strategy Account, and the Institutional Trading Account.

Managed Account – the managed account does not require Forex traders to have any prior experience. It uses proprietary algorithmic software to automatically initiate trades and close trades. There are no management fees incurred, and there are competitive performance fees with the account. Forex traders can select fast-track managed accounts, or standard accounts. There is a minimum account size of $5,000.

Independent Strategy – this account type is built for professional traders. There are currently 8 proprietary strategies available with this account option. FX traders can also utilize their own strategy with this account. There are no upfront fees with this account, however the minimum account size is $100,000.

Institutional Trading – institutional trading accounts are available to qualified investors and QEPs. It is exclusive for traders and developers, with introducing broker offerings and white label solutions available. The minimum account size for this option is $1 million.

Automata FX presents fully automated trading to clients once a short application has been completed. Within 48 hours, the site management will create a trader’s room account with email confirmation about account readiness.

 

Trading Platform/ software

 

The proprietary algorithmic trading platform is geared towards Forex traders of all skill levels. It is only supported on MS Windows. Mac users will be required to download and install a Windows converter like Virtual Box onto their Mac OS. The automated global electronic brokerage is powered by Straight Through Processing (STP), and Forex traders can instantly access interbank FX quotes on all trades. The trading platform is powered by Forex-DAT™. The trading platform/software can be accessed through complimentary PAMM accounts, independent automated trading accounts, and managed accounts. Currently, there is no mobile version of this trading platform or software, however the company is working hard to create a mobile-ready platform for traders. There are no upfront costs for accessing the Automata Platform, and it features low spreads and a 1 pip automation fee per trade.

The difference between a traditional trading platform/system and automated trading software is significant. At Automata FX, the trading automation available to clients automatically executes trades for you so that you don’t have to. It reduces/eliminates emotionally-based trading which is typically responsible for many of the losses that take place in Forex trading. The platform is fully customizable, with proprietary indicators, algorithms, and commands with some 38 million possible trading setups. All trading activity is 100% transparent at all times. The technological advantages that traders enjoy at this Forex brokerage are evident in the returns that are generated. The current platform is capable of processing unlimited numbers of currency pairs, trades, and independent trading strategies. The platform also allows you to open/close trades in any direction, automatically. Since it’s always up and running, there is no need for human intervention.

There are several aspects that make this platform better than the competitors. For starters, there is no need for complex charts and interpretation of that data. The platform automatically moves with the trend and initiates orders based on market performance. Whether your FX trades are simple or complex, benefits stand to be enjoyed through the highly evolved trading strategies that are built into the trading platform. Thanks to the Close All Deals feature, individual traders can hit their target objectives on open/closed trades at any time.

 

Deposit options

 

Automata FX offers bank to bank wire transfers as the only way to deposit and withdraw funds to/from your account at this brokerage. If you wired money from a bank account, the withdrawal of funds in your account will be processed back to that account. The owner of the bank account must be the same owner of the trading account. These security measures are put in place to stamp out any fraudulent activity.

 

Markets

 

Automata FX is a Forex trading brokerage with automated trading functionality. As such, you can expect to find a full listing of major pairs, minor pairs, and exotic currency pairs. The range of markets provided by this company can be seen under ‘Our Offerings’. Traders can access the global markets through a Managed Account, Automated Trading Accounts or a complimentary PAMM Account.

 

Bonuses

 

There are currently no bonuses available at this brokerage. According to Automata FX, a 20% bonus would require that the trading platform/brokerage trades against you as the client, and they do not do that.

 

Customer Support

 

You can easily get in touch with customer support by clicking on the contact option from the drop-down menu. You can input your personal details and your message on the online contact form and click the submit button. Alternatively, you can simply email management at the following address: [email protected]. Other options include the FAQ service for the brokerage and the platform. Traders will be well pleased with the professionalism, quality, and efficiency of customer care and service, thanks to the inclusion of social media accessibility on LinkedIn, YouTube, Pinterest, Instagram, Vimeo and Facebook.

 

Safety

 

Safety and security is a big deal at this trading platform/brokerage. Automata FX complies with strict rules of conduct when it comes to anti-money laundering and counterterrorist financing policies. Details of their AML and CTF policy can be found by clicking on this link. This FX brokerage is domiciled in St. Vincent and the Grenadines. The FSA (Financial Services Authority) is the sole authority responsible for compliance with legal frameworks (IBC Act). However, the Financial Services Authority is not a regulator of Forex trading activity. This Forex brokerage is therefore not regulated at all. On the flip side, there are fully segregated accounts for client funds and business funds.

 

Ease of Use

 

Automata FX is a little clunky to use since it is difficult to navigate from one section of the website to another. The highly complex nature of the automated trading platform makes it less user-friendly, and better suited to tech-savvy Forex traders. It is difficult to test the Forex platforms without a demo account, and even that requires extensive paperwork and processing.

 

Final Thoughts

 

Automata FX is not regulated, and this should automatically sound alarm bells in a Forex trader’s mind. However, it is owned and operated by a reputable company and the technology that is in place is certainly impressive.

Pros
  • Segregated Accounts
  • Automated Trading Platform
  • Multiple Account Options
  • Educational Resources
Cons
  • Not regulated
  • No Demo Trading Account
  • Limited Access to Information
Automata FX Overview
Regulation: Not Regulated
Minimum Deposit: $5000
Spreads From: 3 PIPs
Max Leverage: 25:1
Deposit Options
Pros
  • Segregated Accounts
  • Automated Trading Platform
  • Multiple Account Options
  • Educational Resources
Cons
  • Not regulated
  • No Demo Trading Account
  • Limited Access to Information