Is it legal to run automated trading software on stock market, and how to do it?
October 8th, 2009
Out of pure curiosity regarding technical and legal aspects (I’m aware of the financial risks), is it legal to run an automated trading software that deals for you, using some kind of pseudo-AI?
If it is legal, how can one connect such software to the stock market? I’m guessing going through normal websites would not be suitable in terms of latency/costs, not to mention technically inefficient. Does one require special accreditations/permits to do so? How can one get them?
Thanks :o)
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Yes, those tools exist - and they are legal. Brokerage agencies provide this type of tool for their clients … and brokerages are the only people who can legally trade stocks & bonds.
Look at "Amerivest" at TD Ameritrade … you enter your information, the software decides your specific risk tolerance, and makes trades "automatically" to maintain your risk profile with the money you have invested. Other brokers have similar programs … you make no decisions after you answer the automated questions that determine your level of risk tolerance, the length of time before you retire, etc.
So … yes, it is legal … yes, they exist … and you have access when you open an account at just about any brokerage.