CRYPTOTRADER BOT

Cryptotrader, launched in 2013 is one of the oldest crypto trading bot platform still available.

According to their website, Cryptotrader’s motto is quite simple:To provide traders with cloud-based automated trading solutions powered by cutting-edge technology.

But does the CryptoTrader platform lives up to its promise? Is it the most advanced automated trading solution for those looking to automate their Bitcoin and crypto trades? Are the features easy to use, or do you need to be an advanced programmer to be able to make money with it? Is CryptoTrader expensive?

Luckily for you, this Cryptotrader review will give you all the answers so that you can choose to give it a shot, or pass and try another platform, so buckle up!

Cloud-Based Crypto Trading Bot

One of the big plus of Cryptotrader is that it is a cloud-based algorithmic trading platform.

It means that you don’t need to install any program on your computer to trade bitcoin and other cryptocurrencies. The drawback however is that it can be complicated ti navigate the website, especially at first or for beginners.

Trading bots are running on the cloud and you don’t have to worry about keeping a server running which will save you both money and trouble.

User Interface

Cryptotrader is definitely not the best looking crypto trading bot as you can see below. If you are looking for the sleekest design out there, you will indeed have to look another way, and 3Commas might very well be the best option for you. In which case, you can check out our 3Commas Review here.

Cryptotrader’s homepage does a good job at making it as clear as possible what it is that you can expect from the platform though.

The value proposition “Build your own bot in minutes” will appeal to some of you looking for ways to create your crypto trading bot according to a predefine strategy.

As you will see further in this review, for those that are not afraid of getting their hands dirty, Cryptotrader can be a powerful tool.

Beginner Friendly

Despite its below-average looking user interface, Cryptotrader bot remains a user friendly option for the less experienced traders.

The platform is not filled with useless features, which makes it clean and to the point. It has a forum with an active community that is thriving since launch and you will find many tutorials full of useful informations.

Cryptotrader website is packed with how-to guides; in-depth documentations to help you set up your own bot or improve existing ones and a great FAQ.

Furthermore, bot developers are quick at answering any question that you might have regarding how they work and what you can / cannot do so you can make an educated choice whether or not it suits your trading style / risk profile.

Cryptotrader dashboard

Crypto Exchanges Available

You will have to connect your crypto bot to your favorite crypto exchange via the API keys in order to allow your bot to access your account and buy / sell according to your strategy.

In order to protect your account on the exchange, you have to disallow the “withdraw funds” option when selecting the options. It will prevent any malicious withdrawal of your crypto, so keep that in mind!

Cryptotrader is not the crypto bot platform with the most exchanges available, but it does allow you to connect to the major ones so you should have no problem creating your own crypto bot as well as your automated strategies here.

It is worth noting, in this updated review that newer exchanges like Bybit are not available. This can be a letdown for some of you if you.
Make sure you have an account in one of the exchanges below if you want to give cryptotrader a shot.

  • Binance

  • Bitfinex

  • Bitstamp

  • Bittrex

  • Poloniex

  • Huobi

  • OkCoin

  • Kraken

  • Coinbase

Cryptotrader Exchanges

Cryptotrader Strategies

Strategies Marketplace

As often, the platform allows you to either select already existing crypto trading bots created by the community or to create your own.

The good news for those of you not sure about what strategy to use is that there are free bots (be careful though as they might not be the best performing) due to them being in Beta; using simple indicators; no or low protection (think: stop losses) or free to try where you will be limited in the amount the bot can trade with.

They can be great building blocks for you to create your own personalised strategy though.

One big advantage is that free bots on Cryptotrader are almost always open source which means you will be able to see the code and build on top of it to create your own personalised trading strategy. It enables beginners to start from a sound base and learn how to create a profitable strategy without starting from scratch, which can be daunting at first. 

Cryptotrader strategies

As with the rest of the platform the design of the marketplace looks a little outdated.

That being said, it remains clear and you can navigate easily between all the options available.

Cryptotrader makes it easy to spot major informations regarding the bots:

  • Free or Paid (Premium)
  • If the bot is running (Live) or not
  • Name of the Strategy (Usually indicates clearly the nature of the bot)
  • Renting price for a month (in Bitcoin)
  • Popularity of the bot on the platform (how many people currently rent it)

Details on Cryptotrader Strategies

Choosing a strategy will obviously be one of the key factors of your profitability if you don’t plan on creating your own. But how to know which one to pick? And what are the informations available to help you pick the right one for you?

Every strategy on the marketplace will provide pretty much all you need to make up your mind, you will find:

  • Introduction: Purpose of the bot / what indicators are used

  • Chart: Visual representations of results (when the bot bought / sold)

  • Log Example: Written results of a trade (profit/loss ; comparison vs Buy & Hold; etc)

  • Parameters: What you can tweak

  • Tips: Creator’s advice (depending on market conditions; your risk profile; etc.)

  • Disclaimer: Pretty self explanatory

  • Changelog: All updates and their fixes

  • Markets: Exchanges and Crypto Pairs the bot can trade on

  • Source Code: The source can be visible (almost always hidden for Paid bots)

  • Backtests: Access to backtests that were executed (allows you to assess the bot’s performance)

  • Live instance: Check the performance of a bot currently running on a specific coin pair

Cryptotrader strategy

Backtesting

Cryptotrader uses a simple yet powerful backtesting tool that will prove to be very useful when either testing the strategy you created or trying to asses the performance of a bot you are interested in renting.

Overview

Cryptotrader Review - Backtest

As you can see the interface has everything that is needed, nothing more.

At the top left of your screen you will be able to modify some of the key variables in your backtest such as:

  • The crypto exchange
  • The pair of coins traded by the bot
  • The time interval
  • The starting time of the bot for the backtest
  • The backtest finish date

You should note that the start / stop time of your backtest will be determined by the interval at which you set the trading.

If you select a 30 seconds trading interval, you will not be able to backtest the bot over a long period because the bot will most likely perform many actions.

On the other hand, if the interval is 1 hour the backtest can be run for much longer so keep that in mind when checking how a bot would have performed in the past.

Backtesting Log

Thanks to the great backtesting log, you will have a detailed summary of every position that the bot took during the backtest.

It is worth noting that the informations included will depend on the creator of the strategy. When programming the bot, the developer will have to choose what will be enclosed and the best at it know that crypto traders need as much data as possible.

You will usually find relevant data like:

  • Start / Stop time
  • Number of trades taken
  • Profit / Loss
  • Current Position
  • Max loss / Max Win
Cryptotrader Review - backlog

Cryptotrader Security

Overall

Cryptotrader is very safe regarding your crypto balance.

Thanks to the API keys, you grant your bot the right to read your balance (how many given coin you have in your wallet) and the right to buy / sell your crypto on the selected exchange. This also why you should, under no circumstance grant the access to withdraw funds so be extra careful when selecting your parameters.

This means that your funds will be as secure as the exchange you selected and will have nothing to do with the trading bot you’re choosing.

Trading Notifications

Cryptotrader allows you to receive notifications when actions are performed by your online bots, or when problems are occurring.

Trading can be stressful, especially when you trade cryptocurrencies.

One way to remain calm is to know what your bot is doing. Thankfully, you can always stay up to date with what  your bot is doing via the great notification system that the team implemented.

The most convenient are SMS alert that will follow you on the go.

However there is one pitfall that you should be aware of. If you are US-based, you won’t be able to receive SMS alerts with  your US phone number. As you know regulations hit the US hard and Cryptotrader is indeed no exception.

Team and Transparency

Here is where it gets a little tricky.

Unlike many other newer crypto trading bot platforms, Cryptotrader’s team is anonymous and you won’t find much informations regarding who created and currently operates the platform. It can be a drawback to some of you and that is understandable. Cyptotrader doesn’t provide much informations on social media either as it isn’t active at all since 2018.

The platform and its community are still active and thriving though, so you should not discard it if you want to try to create your own automated strategy at an affordable cost.

Cryptotrader Price & Plans

Cryptotrader bot has one of the largest choice in terms of plans and pricing which makes it one of the most accessible crypto trading bot on the market at the moment.

While it is important to note that the platform does not currently offer any free trial, the cheapest plan will allow you to test the platform for as cheap as possible in the world of cloud based algorithmic trading.

 

Basic + Plan

The basic + Plan will set you back only 0.002 bitcoin and is the one you will want to test if you have never tried cryptotrader and are not sure if it could be a right fit.

It features:

  • Backtesting
  • Email Alerts
  • 1 Live trading Bot
  • $1000 Trading account equity limit

 

Regular Plan

The Regular Plan currently costs 0.0028 bitcoin and will be suited if you wish to have several bots running at the same time.

It features:

  • Backtesting
  • Email Alerts
  • Up to 3 Live trading Bots
  • $5000 Trading account equity limit

Pro Plan

The Pro plan is priced at 0.0053 bitcoin will fit the needs of more seasoned traders or those that enjoy a larger crypto portfolio. It will be your first plan if you are looking at margin trading or short bots. 

It features:

  • Backtesting
  • Email Alerts
  • SMS Alerts (Not working on a US Number)
  • Up to 5 Live trading Bots
  • Margin Trading / Short Positions
  • $20000 Trading account equity limit
  • Early Access to New Features

VIP Plan

The VIP plan is at 0.01 bitcoin per month and the two biggest advantages compared to the Pro plan is its ability to run 10 bots simultaneously and the unlimited trading equity.

It features:

  • All of the PRO Features
  • 10 Live Bots
  • Unlimited Trading Equity
  • Priority Support

Premium Plan

The Premium plan will cost you 0.0249 bitcoin per month. 

This plan will give you all the benefits of the VIP plan but you can now set up up to 25 live crypto trading bots.

It features:

  • All of the VIP Features
  • 25 Live Bots
Cryptotrader Price

Payment Methods

One of the important thing to know about this bot is that you can only pay with cryptocurrencies.

You can choose between the three crypto below to upgrade your account:

  • Bitcoin ($BTC)
  • Litecoin ($LTC)
  • Maker DAI ($DAI)

CONCLUSION

As this Cryptotrader review is coming to an end, it is time to draw some conclusions.

First of all, the user interface and general design of the platform is not the most advanced. Yes we know, we insisted a lot on this because for us it was kind of a surprise and it can be a disappointment for those of you looking for a best in class in that domain.

That being said, the platform will allow many of you to take your first steps into the wonderful (and hopefully profitable) world of crypto trading bots.

It will be a perfect choice for those looking for a no-nonsense; affordable option or those wanting to try and code the perfect strategy. The most gifted (or hard-working) will even be able to rent their bots to the Cryptobot community for an extra profit.

With monthly plans starting at 0.002$₿ it is definitely worth a try!

Visit Cryptotrader

Cryptotrader.org FAQ

During our Cryptotrader trial that is a question that we have often wondered. Is this bot platform legit and reliable?

While we have never encountered anything suspicious, traders that value transparency above all might want to find another platform for their crypto bots since the team is unknown and the communication from Cryptotrader is scarce to say the least.

There are many alternatives to Cryptotrader, among those we are confident to recommend 3Commas and Cryptohopper.

For more alternatives, check out our reviews and discover what is the best crypto bot for you.

Cryptotrader

From 0.02₿
3.65

Ease of use

3.0/5

Features

3.8/5

Marketplace

3.8/5

Support

3.5/5

Reputation

3.5/5

Price

4.5/5

Pros

  • Fully Customisable
  • Straight To The Point
  • Affordable

Cons

  • Very Technical
  • Anonymous Team
  • Infrequent Updates
Cryptotrader Review: Still a Great Crypto Bot in 2020?

The Most Complete Cryptotrader review. Discover why it is one of the best cryptocurrency trading bot on the market for beginner and experienced traders alike.

Price: 0.002

Price Currency: BTC

Operating System: Cloud

Application Category: Crypto Trading Bot