Review and Comparison of The Best Trading Platforms
The cryptocurrency market is more than just diverse with new tokens appearing every week. In the sea of available investment options, making correct financial decisions is a tall task. This is why automation became so prevalent and widely used by traders interested in crypto. The best crypto trading platform with bots and good portfolio management is hard to determine.
If you are looking into automated crypto trading and want to get involved with the best online trading platform, take a closer look at our selection of TOP 4 platforms offering a variety of instruments and tools for automated trading.
Wunderbit Trading — affordable, efficient, evolving
The ongoing development of the platform does not mean that it is lacking in any aspect of service. The app is well-polished, offers a neatly looking interface, a myriad of useful features, and allows users to utilize several bots. Each bot has its purpose and advantages for specific types of investors.
Whether you like to stay on one exchange and catch spreads or search for profits by trading between exchanges, you will find a great tool in Wunderbit’s impressive arsenal. Wunderbit Trading offers multiple bots:
- Crypto trading bot for Tradingview is a special feature that focuses on the creation, backtesting, and implementation of scripts written by users. You can create unlimited bots and apply your strategies automatically!
- DCA bot analyzes the market situation to give you the best parameters for an entry. You only need to set it up once!
- GRID bot will place multiple buy and sell orders simultaneously to combat the volatility in the market and improve risk management. It is a great solution for specific cryptocurrencies that experience moments of extreme volatility.
- Arbitrage trading allows users to trade between exchanges searching for profits where many simply cannot. Different exchanges offer different rates and P2P orders meaning that there can be a difference worth checking out.
The last two features are currently in development but the frequency of updates tells us that they will be rolled out quite soon. In terms of pricing, Wunderbit Trading offers its Premium for $44.95 per month ($33.7 when paid bi-annually).
When it comes to automated trading, 3Commas is the name that comes up quite often despite its steep pricing and overreliance on its smart terminal. It is a good choice for people who want to automate their trading and enjoy a wide variety of bots.
The current list of available features includes:
- Manual trading using the smart terminal based on Tradingview;
- Multiple automation bots focused on single-pair, multi-pair, and algorithmic trading;
- Portfolio management and notifications.
One of the key issues with 3Commas is its comparatively high pricing. A Pro subscription costs a whopping $99 per month when paid annually. You may catch a promotion and get it for under $40 but it is not something ongoing all year long.
Shrimpy.io —very social, very expensive
When it comes to working with cryptocurrencies, using the principles of social trading is always a good idea. Since the prices are dictated mostly by fluctuations of public opinion and one cannot follow all relevant news to stay up to date with the changes in the market, catching the vibe of the community is often the right choice.
Shrimpy focuses on social trading and provides an opportunity for professional traders to lead the way or for newbies to find guidance. On this platform, you will find:
- Lessons from professionals in the so-called “academy”;
- Easy-to-use tools for finding and following expert traders;
- A lively and responsive community of investors.
In general, Shrimpy may seem like a good investment yet pricing is harsh. A professional account costs $63 per month when paid annually and their Enterprise membership (which is Pro on other platforms) costs $299 per month with no discounts for annual payers.
Cryptohopper — too many features
Some may call Cryptohopper unfocused since it does not have a single, signature product that it could be defined by. However, the list of features is lengthy and it is hard to not find a good match for your particular needs. Cryptohopper offers a wide range of tools:
- Exchange arbitrage;
- Paper trading (a rare feature);
- Strategy designer for novices;
- Algorithmic trading;
- Market Maker (spreads).
It is not a complete set of features one can find on this platform. Backtesting, automation, exchange integration, trailing stops, and many other instruments are at your disposal as well. The main issue here is that many traders do not need such depth in functionality. It only hinders their ability to stay efficient and focused.
The price for this impressive toolkit is also impressive: you will pay $83.25 per month (annual plan) for the whole package. Pricey, but it can also be the best trading platform for stocks.