Cryptotrader is currently among the most popular algorithmic trading platforms around. This may in part be due to the fact that it allows you to use its services even if you are not too well-versed in programming, which makes it appealing to a larger audience interested in automated cryptocurrency trading. In this Cryptotrader review, we will assess the quality of service the company provides and help you determine whether it is a good match for your needs.
About The Company
Cryptotrader is a cloud-based platform that offers its users the opportunity to automate their trading strategies via a flexible built-in scripting language based on CoffeeScript. Users also get to enjoy the handy backtesting option that allows for risk-free trading in real markets, as well as full automatization with the use of live trading robots. With a wide range of supported cryptocurrency exchanges and a variety of useful tools, the company has managed to constantly grow its customer base. Its services are available with a subscription and the paid plans are designed to cover the needs of the majority of cryptocurrency traders.
How Cryptotrader Works
As a subscribed user of Cryptotrader, you get to enjoy the perks of a comprehensive cloud-based solution that allows you to use the company’s services without any software or installation required. You can build your own trading bot in a matter of minutes and run it in the Cryptotrader scalable VPS cloud 24/7, without placing unnecessary load on your computer.
Depending on your coding experience, you can create your own strategies or opt for one of the ready-made strategies available in the Cryptotrader Strategy Market. Some of the strategies come free of charge, but most of them require payment. Many of them are designed by professional traders, providing beginners with the benefits of enjoying an easily obtainable head start in the trading game. If you are a professional trader, you can make extra cash by uploading your own strategies and offering them up for sale in the Strategy Market. Your source code is protected regardless of whether you choose to upload a free or paid strategy.
Crypotrader does not hold your assets and does not have access to your funds at any time. You get to choose the exchange where the trades are placed and configure your bot in accordance with your desires. For additional security, it is recommended that you wisely limit the actions your bot can take. Although more advanced Cryptotrader plans allow you to run several live trading bots, it is not advisable to run more than one bot per exchange account, as the bots would compete for funds. You can solve this problem by choosing an exchange that allows you to create subaccounts, like Poloniex or Bitstamp.
Depending on the subscription plan you choose, you get numerous perks, including instant email and SMS alerts, access to various powerful trading instruments, unlimited equity amount per bot, and more. Read more about the options available in the Plans & Pricing section of this Cryptotrader review.
Plans & Pricing
At the moment, Cryptotrader offers 5 distinct plans that vastly differ in the range of features they provide to users. The most affordable Basic+ plan starts at 0.004 Ƀ per month and brings you full access to the backtesting feature, provides email alerts, and allows you to run one live trading bot, with the maximum equity amount to be operated by a single bot set at $1000.
The Regular plan starts at 0.008 Ƀ per month and also brings you backtesting and email alerts, as well as 3 live trading bots with the maximum equity amount per bot of $5000. The Pro plan starts at 0.013 Ƀ per month and comes with a larger set of features. Apart from backtesting and email alerts, you get SMS alerts, margin trading/short positions, access to a variety or trading instruments, early access to new features, and the possibility to run 5 trading bots with a $20,000 equity limit per bot.
The VIP plan allows you to enjoy the same benefits as the Pro plan, plus priority support and the possibility to run 10 live trading bots with no limit on the equity amount the bots can operate with. The price of the plan starts at 0.027 Ƀ. Finally, the most advanced and priciest Premium plan brings you all the features available with the VIP plan, with the only difference being in the number of bots you can run. Namely, you can run 25 bots with the Premium plan. The price of the plan starts at 0.054 Ƀ.
Privacy & Security
Cryptotrader treats your personal information with absolute confidentiality and does not disclose any information you provide to third parties. Accounts that are found to be in breach of law are instantly terminated without warnings or refunds. The source codes you submit are treated as your intellectual property and they are not made available to the public unless you yourself decide to do so. Your strategies are not accessed by Cryptotrader without your permission and they may only be accessed by the company for the purpose of maintenance. Keep in mind that the company cannot and will not take responsibility for any losses you experience at exchange markets and you are urged to test the trading system in simulated conditions prior to making any real trades. The company cannot be held responsible for any negative effects of external factors.
- Backtesting for safer trading
- Strategy Market for selling and purchasing strategies
- Complete protection of your data with no access allowed to third parties
- Trade on all major cryptocurrency exchanges
- Full automatization with up to 25 live trading bots
- Unlimited equity amount per bot with the VIP and Premium plans
- Customer support far from impressive
- Late notifications about new features