menuclose
BrokerNotes.co is committed to the highest ethical standards and reviews services independently. Learn How We Make Money
Home Guides

Best Autochartist Forex Brokers

BrokerNotes.co

Written by BrokerNotes.co

October 10, 2023

This is a review of Autochartist, a Forex and CFD (contracts for difference) trading support service. Autochartist is a brand which operates from Cyprus and provides technical analysis support services for the Forex, commodities and futures markets. Autochartist delivers its service using technology partners such as Metaquotes and Econoday. Metaquotes supports the Autochartist plug-in, which can be used on MT4/MT5 trading platforms as a custom indicator. Econoday is a provider of economic news and market data analytics.

Autochartist provides traders with the very latest in automated market-scanning tools which showcase trade opportunities that inexperienced traders would ordinarily not be able to spot. These trade opportunities are strictly based on support and resistance levels. Autochartist provides traders with the following:

  1. Chart patterns: Common chart pattern formations that are presented by Autochartist include wedges, triangles, channels, rounding tops and bottoms, and other formations that indicate when the price action has hit a top or a bottom.
  2. Fibonacci patterns, such as Retracements, Extensions, Butterfly, Gartley and ABCD patterns.
  3. Key support and resistance levels that occur on a horizontal plane.

Autochartist also provides an analysis of market risk and volatility, although this is not a frequently used tool.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74% and 89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Best Forex Brokers for Autochartist

  • IG
    - 9.9/10 Overall
  • Saxo Bank - 9.7/10 Overall
  • CMC Markets - 9.6/10 Overall
  • Swissquote - 8.7/10 Overall
  • FXCM - 8.5/10 Overall
  • Pepperstone - 8.4/10 Overall
  • OANDA - 8.4/10 Overall
  • FP Markets - 8.3/10 Overall
  • IC Markets - 8.2/10 Overall
IG
9.9/10 Overall
Summary Review Trading Platforms
Minimum Deposit£250.00
Tier-1 Licenses8
Tradeable Symbols (Total)19537

Year after year, IG has shown itself to be the best broker in the forex industry and a fantastic choice for forex traders. Highly trusted and regulated across the globe, IG delivers a wide variety of rich features, market research, and powerful trading tools. Fans of copy trading will appreciate IG’s seamless integration of trading signals into its web platform.

Apple iOS AppYes
Android AppNo
Proprietary PlatformYes
Desktop Platform (Windows)Yes
Web PlatformYes
MetaTrader 4 (MT4)Yes
MetaTrader 5 (MT5)No
Visit Site

Join 239,000+ traders worldwide.

(Trading forex carries a high level of risk.)

Saxo Bank
9.7/10 Overall
Summary Review Trading Platforms
Minimum Deposit0
Tier-1 Licenses7
Tradeable Symbols (Total)70000

Saxo Bank is a highly trusted broker that operates multiple banks and is regulated across the globe. Saxo Bank delivers an incredible cross-platform experience alongside powerful research and a vast selection of more than 60,000 symbols across multiple asset classes. It’s worth noting that minimum deposits at Saxo are steep.

Apple iOS AppYes
Android AppNo
Proprietary PlatformYes
Desktop Platform (Windows)Yes
Web PlatformYes
MetaTrader 4 (MT4)No
MetaTrader 5 (MT5)No
CMC Markets
9.6/10 Overall
Summary Review Trading Platforms
Minimum Deposit$0
Tier-1 Licenses5
Tradeable Symbols (Total)12074

CMC Markets is a highly trusted multi-asset broker regulated in multiple Tier-1 jurisdictions. CMC's powerful Next Generation trading platform for web and mobile delivers a huge selection of markets and a fantastic user experience. CMC Markets also ranks highly for its high-quality research and educational content.

Apple iOS AppYes
Android AppNo
Proprietary PlatformYes
Desktop Platform (Windows)Yes
Web PlatformYes
MetaTrader 4 (MT4)Yes
MetaTrader 5 (MT5)No
Swissquote
8.7/10 Overall
Summary Review Trading Platforms
Minimum Deposit$1000
Tier-1 Licenses5
Tradeable Symbols (Total)472

Swissquote delivers a balanced offering of easy-to-use proprietary trading platforms and popular third-party platforms like MetaTrader and TradingView. Swissquote also offers a staggering 3 million financial products. It’s worth noting that Swissquote's pricing is more expensive than what you'd find with low-cost forex brokers.

Apple iOS AppYes
Android AppNo
Proprietary PlatformYes
Desktop Platform (Windows)Yes
Web PlatformYes
MetaTrader 4 (MT4)Yes
MetaTrader 5 (MT5)Yes
FXCM
8.5/10 Overall
Summary Review Trading Platforms
Minimum DepositStarts from $50
Tier-1 Licenses4
Tradeable Symbols (Total)440

FXCM is a highly trusted brand that offers multiple trading platforms for algorithmic trading and social copy trading, along with a proprietary platform suite and access to MetaTrader 4. FXCM is great for beginners due to its wide range of educational content. It's worth noting that pricing at FXCM is just average.

Apple iOS AppYes
Android AppNo
Proprietary PlatformYes
Desktop Platform (Windows)Yes
Web PlatformYes
MetaTrader 4 (MT4)Yes
MetaTrader 5 (MT5)No
Pepperstone
8.4/10 Overall
Summary Review Trading Platforms
Minimum Deposit$200
Tier-1 Licenses3
Tradeable Symbols (Total)2342

Pepperstone is a highly trusted broker that offers a growing number of tradeable markets and support for third-party platforms such as TradingView, cTrader, a variety of copy trading platforms, and the MetaTrader suite. Traders at Pepperstone also gain access to high-quality research content in both written and video format.

Apple iOS AppYes
Android AppNo
Proprietary PlatformNo
Desktop Platform (Windows)Yes
Web PlatformYes
MetaTrader 4 (MT4)Yes
MetaTrader 5 (MT5)Yes
OANDA
8.4/10 Overall
Summary Review Trading Platforms
Minimum Deposit$0
Tier-1 Licenses7
Tradeable Symbols (Total)1744 info

OANDA is a highly trusted broker that delivers strong market research and support for a range of third-party plug-ins and platforms (like MetaTrader 4 and the wildly popular TradingView). OANDA’s Trade desktop platform is good, not great, but the mobile version is easy to use and boasts a great balance of features.

Apple iOS AppYes
Android AppNo
Proprietary PlatformYes
Desktop Platform (Windows)Yes
Web PlatformYes
MetaTrader 4 (MT4)Yes
MetaTrader 5 (MT5)Yes info
FP Markets
8.3/10 Overall
Summary Review Trading Platforms
Minimum Deposit$100 AUD
Tier-1 Licenses2
Tradeable Symbols (Total)10000

FP Markets delivers excellent pricing and access to the full MetaTrader suite, as well as cTrader and its own copy trading platform. That being said, FP Markets' pricing is not as low on its IRESS platform, which is optimized for share dealing. FP Markets fares well across most key categories, though its research and education have room to improve.

Apple iOS AppYes
Android AppNo
Proprietary PlatformYes
Desktop Platform (Windows)Yes
Web PlatformYes
MetaTrader 4 (MT4)Yes
MetaTrader 5 (MT5)Yes
IC Markets
8.2/10 Overall
Summary Review Trading Platforms
Minimum Deposit$200
Tier-1 Licenses2
Tradeable Symbols (Total)3583

IC Markets is a trusted broker with multiple Tier-1 regulatory licenses. Traders at IC Markets gain access to MetaTrader 4 and MetaTrader 5 as well as the Advanced Trading Tools package for desktop and support for third-party plugins from Autochartist and Trading Central. That said, the broker's research and education have room to improve.

Apple iOS AppYes
Android AppNo
Proprietary PlatformNo
Desktop Platform (Windows)Yes
Web PlatformYes
MetaTrader 4 (MT4)Yes
MetaTrader 5 (MT5)Yes

Autochartist Interface

The Autochartist interface is only available to view once a user has signed up either for the free trial or for a paid subscription. The snapshot shown below contains segments which have to be used together. These segments are numbered from 1 to 13. A brief explanation of each segment is also provided.

Our Favourites: The tab marked '1'is "Our Favourites" and shows the list of trading opportunities which are active, and which possess the highest probability for success based on a 6-month history of similar trading opportunities.

Trading Opportunities: This tab, marked '2', showcases the existing opportunities which are found on the charts. Therefore, this tab will contain the chart patterns; Fibonacci-based patterns and key levels of support and resistance across several assets. The trader can filter the results shown here using customised preferences.

Pattern Display: The pattern display is marked '8'. Price graphs for various assets are displayed. These graphs show the exact demarcation of the patterns and the opportunities that they present. This is the chart displayed when the trader clicks on the Active Trading Opportunities tab.

Autochartist - Active Trading Opportunities Chart

What does this pattern display show? It shows the following information:

  1. The asset on which the pattern is shown. Shown as the symbol on the right.
  2. The exchange where the asset is traded. Here it is Forex.
  3. Interval, which refers to the time frame of the chart. Here, the time frame is 15 minutes.
  4. Type of pattern. In this chart, it is a falling wedge.
  5. Direction. This is the direction the price breakout is expected to occur, which is upwards (green arrow on the chart) and green arrow on the right pane.
  6. There are meter bars that indicate the strength for Quality of Signal, Initial Trend, Uniformity, Clarity of Signal and Expected Breakout. The higher the number of bars, the better the overall strength of the signal.
  7. Forecast price is the price at which the breakout move is expected to occur.

The information gained from the Pattern Analysis can be combined with other information within the price movement pane.

Event Impact Analysis: This tab, marked '4', reveals the impact of previous news releases on the currency pair tool in a concise, visual presentation. The user should know where the fundamentals are pointing before making technical entries.

Autochartist - Event Impact Analysis

Price Movement Pane: with Quality Indicators and Volatility Analysis

The price movement pane features the volatility analysis tool as well as the price range forecast.

The Volatility Analysis tool gives the trader insight as to the movement of assets in the market. The trading risk for each asset can be assessed.

Autochartist - Volatility Analysis

By clicking the Volatility Analysis tab, a new pop up with 3 tabs is shown, one of which is the forecast of the price range.

Autochartist - Price Range Forecast

The Price Range Forecast section gives the trader some idea as to the possible range of price movements within each time frame. This will guide in the setting of stop loss and take profit targets.

Results Filter: The display of results for each trade opportunity can be customised in the Trading Opportunities Pane by checking or unchecking the relevant checkboxes as shown below.

Autochartist - Results Filter

Active Trading Opportunities: The Active Trading Opportunities show the tradable patterns in the market. These are patterns which are still in evolution and for which entry possibilities still exist.

The tab for trade opportunities that are no longer valid (either ended or expired) is named the Expired Trading Opportunities tab, marked 13 on the interface snapshot.

Interpretation of Trading Opportunities on Autochartist

Patterns displayed on Autochartist can either be Emerging Patterns, Evolving Patterns, Completed Patterns or Expired Patterns.

Autochartist & Patterns

  • The first diagram shows an emerging pattern, which has undergone a breakout. The pattern is only tradable when the entry conditions are attained following the breakout.
  • The second diagram shows when the target price is reached.
  • Sometimes, the emerging pattern does not fulfill potential and it breaks down. This would constitute an expired pattern.

How to Start Using Autochartist

Autochartist presents two ways to start using the service.

  1. Sign up for a 14-day free trial, followed by the payment of a monthly subscription.
  2. Using a live account from a Forex broker that supports the Autochartist MT4 plug-in, which allows the plug-in to be used for free.

Benefits of Using Autochartist

Autochartist comes with certain benefits:

  1. Coverage of several assets listed across several asset classes: forex, commodities, indices, CFDs and futures.
  2. Easily spot market opportunities round the clock using the Autochartist tools.
  3. Novices will find the Autochartist tool to be an indispensable tool for technical analysis.
  4. A variety of educational materials are also provided on the Autochartist website.

BrokerNotes.co 2023 Overall Rankings

To recap, here are our top forex brokers for 2023 that offer Autochartist, sorted by Overall ranking.

Company Overall Rating Minimum Deposit Average Spread EUR/USD - Standard Trust Score Tradeable Symbols (Total) Read Review Visit Site
IG logoIG 9.9 £250.00 0.98 info 99 19537 IG Review Visit Site
Saxo Bank logoSaxo Bank 9.7 0 0.9 info 99 70000 Saxo Bank Review
Interactive Brokers logoInteractive Brokers 9.7 $0 0.63 info 99 8500 Interactive Brokers Review
CMC Markets logoCMC Markets 9.6 $0 0.51 info 99 12074 CMC Markets Review
TD Ameritrade logoTD Ameritrade 9.5 $0 1.25 info 99 0 TD Ameritrade Review
FOREX.com logoFOREX.com 9.3 $100 1.4 info 99 5500 FOREX.com Review Visit Site
City Index logoCity Index 9.2 £100.00 1.4 info 99 13500 City Index Review
XTB logoXTB 9 $0 1.07 info 96 6010 XTB Group Review
eToro logoeToro 8.8 $10-$10,000 1 info 90 3479 eToro Review
Swissquote logoSwissquote 8.7 $1000 N/A info 99 472 Swissquote Review
AvaTrade logoAvaTrade 8.6 $100 0.92 info 94 1260 AvaTrade Review
FXCM logoFXCM 8.5 Starts from $50 1.38 info 95 440 FXCM Review
Plus500 logoPlus500 8.5 €100 0.8 (August 2021) info 99 5500 info Plus500 Review
Capital.com logoCapital.com 8.4 $20 info 0.67 info 87 3119 Capital.com Review
XM Group logoXM Group 8.4 $5 1.6 info 88 1429 XM Group Review
Pepperstone logoPepperstone 8.4 $200 0.77 info 95 2342 Pepperstone Review
OANDA logoOANDA 8.4 $0 1.57 info 93 1744 info OANDA Review
Admiral Markets logoAdmiral Markets 8.3 $100 0.8 info 93 6942 Admiral Markets Review
FP Markets logoFP Markets 8.3 $100 AUD 1.1 info 87 10000 FP Markets Review
IC Markets logoIC Markets 8.2 $200 0.62 info 84 3583 IC Markets Review
Markets.com logoMarkets.com 8.2 $100 1.9 info 96 2179 Markets.com Review
FxPro logoFxPro 8.1 $100 1.51 info 90 2249 FxPro Review
Tickmill logoTickmill 8.0 $100 0.51 info 83 725 Tickmill Review
Fineco Bank logoFineco Bank 8.0 $0 N/A info 95 126 Fineco Bank Review
BlackBull Markets logoBlackBull Markets 7.9 $0 0.827 info 77 26000 BlackBull Markets Review
DooPrime logoDooPrime 7.8 $100 N/A info 83 10000 DooPrime Review
Vantage logoVantage 7.8 $50 1.30 info 90 1000 Vantage Review
BDSwiss logoBDSwiss 7.8 $100-$5000 info 1.6 info 81 1081 BDSwiss Review
HFM logoHFM 7.8 $0 1.2 info 86 3500 HFM Review
FlowBank logoFlowBank 7.7 $0 N/A info 80 408600 FlowBank Review
HYCM (Henyep Capital Markets) logoHYCM (Henyep Capital Markets) 7.7 $20 0.6 info 88 1199 HYCM Review
Trading 212 logoTrading 212 7.6 €10 N/A info 77 9732 Trading 212 Review
ThinkMarkets logoThinkMarkets 7.6 $0 info 1.1 info 92 4000 ThinkMarkets Review
Eightcap logoEightcap 7.6 $100 1.0 info 85 736 Eightcap Review
Trade Nation logoTrade Nation 7.5 $0 0.6 83 601 Trade Nation Review
Moneta Markets logoMoneta Markets 7.5 $50 1.27 info 72 1016 Moneta Markets Review
VT Markets logoVT Markets 7.4 $100 1.2 info 70 1000 VT Markets Review
TMGM logoTMGM 7.8 $100 0.96 info 83 12000 TMGM Review
ACY Securities logoACY Securities 7.4 $50 1.2 info 75 2200 ACY Securities Review
easyMarkets logoeasyMarkets 7.3 $50 0.9 info 80 199 easyMarkets Review
RoboForex (RoboMarkets) logoRoboForex (RoboMarkets) 7.3 $100 1.4 info 71 12000 Roboforex (RoboMarkets) Review
IronFX logoIronFX 7.2 $50 1.2 84 340 IronFX Review
Exness logoExness 7.2 $1 0.9 info 68 112 Exness Review
Spreadex logoSpreadex 7.2 $0 0.78 info 71 2000 Spreadex Review
IFC Markets logoIFC Markets 7.2 $1 1.44 info 67 630 ATFX Review
Trade360 logoTrade360 7.1 $250 N/A info 76 1062 Trade360 Review
Axi logoAxi 7.1 $0 N/A info 81 175 Axitrader Review
GKFX logoGKFX 7.1 $0 N/A info 65 354 GKFX Review
Vestle logoVestle 7.1 -1 N/A 78 750 Vestle Review
Octa logoOcta 7 $25 0.9 info 70 229 OctaFX Review
FXOpen logoFXOpen 7 $100 N/A info 80 87 FXOpen Review
TeleTrade logoTeleTrade 7 $100 N/A 71 500 Teletrade Review
FXPrimus logoFXPrimus 6.9 $100 N/A info 71 140 FXPrimus Review Visit Site
Forex4you logoForex4you 6.9 $0 N/A info 61 150 Forex4you Review
GBE brokers logoGBE brokers 6.8 $500 N/A info 71 500 GBE Brokers Review
Alpari logoAlpari 6.8 $20 N/A info 68 105 Alpari Review
TopFX logoTopFX 6.7 Depends on payment method N/A info 67 655 TopFX Review
Libertex (Forex Club) logoLibertex (Forex Club) 6.7 $10 N/A info 73 300 Libertex Review
LegacyFX logoLegacyFX 6.9 $500 N/A 67 425 LegacyFX Review
FXGT.com logoFXGT.com 6.6 $5 N/A 69 117 FXGT Review
ATFX logoATFX 6.6 $500 N/A info 67 150 ATFX Review
Xtrade logoXtrade 6.5 $250 N/A info 80 142 Xtrade Review
UFX logoUFX 6.6 $100 3 info 67 619 UFX Review

Popular Guides

Popular Forex Reviews

Methodology

At BrokerNotes.co, our data-driven reviews of online brokers are based on our own extensive testing of each broker's products and services as well as the qualified observations of our expert editorial team. In conjunction with our sister site, ForexBrokers.com, we’ve published well over 100,000 words of research and collected thousands of data points across hundreds of variables. Our in-depth trading guides are created with the same rigorous, data-driven approach.

Our proprietary Trust Score rating system tracks data from over 100 regulatory jurisdictions to help forex traders understand the regulatory status of their forex broker and choose a broker that they can trust.

Our editorial team is led by Steven Hatzakis, an industry veteran with decades of experience and a deep understanding of the forex market. Our team conducts thorough testing on a wide range of brokers, platforms, products, technologies, third-party trading tools, and mobile apps. We also test for the availability of high-quality educational content, actionable market research resources, and the accessibility and capabilities of mobile platforms. All of our ratings and rankings are based on the collection and validation of thousands of data points and our in-depth product testing.

Part of our testing process involves in-depth research into commissions and fees. We dive into each broker’s trading costs, such as VIP rebates, inactivity fees, custody fees, bid/ask spreads (we always strive to determine the average spreads for each broker to better serve our readers), and a variety of other fee-based data points.

All websites and web-based platforms are tested using the latest version of the Google Chrome browser. Our Desktop PCs run Windows 11, and we use MacBook Pro laptops running the latest version of macOS to test trading on the go.

When testing mobile apps or mobile products, we test on both Apple and Android devices. For Apple, we test with the iPhone XS running iOS 16, and for Android we use the Samsung Galaxy S9+ and Samsung Galaxy S20 Ultra devices running Android OS 13.

All of the content on BrokerNotes.co is researched, fact-checked, and edited by members of our editorial team. Our ratings and rankings are driven by our independent data collection. We may use generative AI tools to assist in some of the rote aspects of our content production processes, but the substance of our content, as well as our opinions and evaluations are based on our extensive research and product testing. Read our Generative AI policy to learn more.

Our rigorous data validation process provides our readers with quality data they can trust. Click here to learn more about how we test.

Forex Risk Disclaimer

There is a very high degree of risk involved in trading securities. With respect to margin-based foreign exchange trading, off-exchange derivatives, and cryptocurrencies, there is considerable exposure to risk, including but not limited to, leverage, creditworthiness, limited regulatory protection and market volatility that may substantially affect the price, or liquidity of a currency or related instrument. It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses. Learn more about foreign exchange risk.

About the Editorial Team

BrokerNotes.co
BrokerNotes.co

BrokerNotes is powered by a dynamic team of writers, researchers, content strategists, data analysts, editors, traders, and investors. We are obsessed with creating the best finance content on the internet, and we are dedicated to helping our readers make great choices for their money.

close
navigate_before navigate_next