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What is a Crypto Trading Bot?
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Best Brokers for Crypto Trading Bots 2024

Crypto-automated trading allows traders to execute trades automatically using ‘trading bots’, saving users time and potentially increasing efficiency. But with so many brokers to choose from, how do you find the best one in terms of trading bots? Our team has researched and compiled a list of the best trading bots for crypto in 2023. Ready to get started? In this guide, you’ll find a review of top brokers and platforms with the best free crypto trading bots and some handy tips to get you started in automated crypto trading.

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5.0
  • Minimum Deposit : $5
  • Fees : Very Competitive
  • Regulations : CySec / FSA / FSCA / VFSC
2
4.5
  • Minimum Deposit : $100
  • Fees : Competitive
  • Regulations : ASIC / CySEC / FSA / FSC / FSCA
3
4.5
  • Minimum Deposit : $0
  • Fees : Very Competitive
  • Regulations : FMA / FSA
4.2
  • Minimum Deposit : $0
  • Fees : Very Competitive
  • Regulations : ASIC / BaFin / CMA / CySEC / DFSA / FCA / SCB
4.3
  • Minimum Deposit : $100
  • Fees : Competitive
  • Regulations : FCA / FSC / MAS / MFSA

What is a Crypto Trading Bot?

A crypto trading bot is a software program that automatically buys and sells cryptocurrencies based on predetermined parameters set by the user. These bots can offer numerous benefits, including improved efficiency and accuracy in trading, removing traders’ emotions from decision making, as well as freeing up time for traders to focus on other tasks.

The best crypto trading bots enable top traders to take advantage of highly volatile crypto markets with trade strategies that are automated. If you’re a crypto trader that employs automated trading strategies, then using the right bots and crypto trading platforms are crucial for you to trade 24/7 without needing constant supervision.

Many crypto trading bots offer features that can help experienced traders develop and refine their strategies, or help beginners get started in the world of automated trading. Some trading bots use artificial intelligence (AI) technology as well as pre-programmed strategies defined in code to execute trades with minimal margins of error, as well as little to no human intervention.

Best Cryptocurrency Brokers for Trading Bots Compared

EightcapBanxsoAvaTradeFP Markets
Trading BotCapitalise.aiMetaTrader 5Capitalise.ai, DupliTrade, ZuluTrade, AvaSocial, & MetaTrader 4MetaTrader 4 and MetaTrader 5
Features & InclusionsFree live training session

Webinars

Technical analysis & risk management tools

Performance statistics for each trade

Backtesting, triggered alerts, & automated strategies
Custom alerts

Watchlists

Charting and analysis tools

Copy trading

Single-click trading

Multiple order types

Trading signals
Zero coding, strategies library, trading alerts, research, and analysis tools, and more via Capitalise.ai

Trade duplication, rich portfolio, and strategies with DupliTrade

Copy trading, large signal provider selection, risk management and strategy tools with ZuluTrade

Social trading, research tools, community support, real-time trading signals, and special awards with AvaSocial
Fundamental and technical analysis tools

Copy trading

Unlimited charts

44 analytical objects

Alert system for market events
Strategy tester
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Best Automated Crypto Trading Brokers Reviewed

Without further ado, here’s our guide on some of the best brokers with automated crypto trading bots. Whether you’re looking for something that’s beginner-friendly or more advanced, there’s a broker out there for you.

FXGT

FXGT Broker, a standout in the realm of crypto social trading, provides an innovative and dynamic platform for both novice and seasoned traders. FXGT Broker offers an exceptional sentiment analysis tool, giving traders valuable insights into market trends and investor attitudes.
Additionally, FXGT Broker integrates seamlessly with popular trading forums, allowing users to connect with a community of over 20 million traders.
The platform’s 24/7 trading capability and diverse market access further enhance its appeal, making FXGT Broker a top choice among the best crypto social trading platforms.

  • Pros
  • Wide range of tradeable assets
  • Dynamic and competitive spreads and leverage
  • Suitable for traders of all experience levels
  • Multiple account types
  • Copy and social trading facilities in the crypto segment
  • Cons
  • It is not available in some countries, including the US

AvaTrade – Best in Variety

AvaTrade is one of the most well-established crypto brokers globally and is also one of the best automated crypto trading platforms for those looking to get into automated trading.

In addition to a feature-rich demo account, AvaTrade offers:

  • ai an AI-powered way to trade with bots in a zero-code interface, using only plain English to execute commands
  • DupliTrade supports trade duplication, allowing users to automatically copy experienced traders’ strategies and signals as they occur
  • ZuluTrade leverages expert traders’ recommendations to conduct automatic trades in users’ AvaTrade accounts
  • AvaSocial is the platform’s social trading tool
  • MetaTrader 4
  • Pros
  • Trading in crypto/crypto and crypto/fiat pairs
  • Wide variety of research tools and useful signals
  • Advanced platforms for copy trading and social trading
  • Educational resources for all levels of traders
  • Cons
  • High inactivity fee

BlackBull Markets

Crypto traders get ten highly liquid cryptocurrency CFDs at BlackBull Markets, which made heavy investments into its trading infrastructure, making it one of the leading automated crypto trading platforms. The ECN cost structure and ultra-fast order execution create ideal conditions for automated crypto trading. BlackBull Markets features the MT4/MT5 trading platforms with full support for algorithmic trading, and VPS hosting is available.

Social traders can connect their BlackBull Markets to the TradingView community, where 30M+ traders share trading ideas and discuss cryptocurrencies. 24/7 live support is available, ensuring cryptocurrency traders can always reach out if they need assistance.

  • Pros
  • User-friendly platforms with excellent trade analysis tools
  • Spreads starting from 0.0 pips
  • Leverage of 1:2 for cryptocurrencies
  • Negative balance protection
  • Cons
  • Limited deposit options

Pepperstone

With MT4, MT5, and cTrader, Pepperstone ranks among the elite automated crypto trading platforms. All three platforms support algorithmic trading and have an embedded copy trading service. Pepperstone also offers Myfxbook Autotrade and DupliTrade as copy trading alternatives. Autochartist presents another automated plugin, but the addition of Capitalise AI makes Pepperstone stand out. Capitalise AI enables traders to automate strategies in a code-free environment.

The competitive pricing environment, deep liquidity, 18 cryptocurrency CFDs, 3 crypto indices, and VPS hosting can make Pepperstone ideal for automated crypto trading. The ECN/NDD environment has a fill rate of 99.94%, adding to its competitive edge.

  • Pros
  • 24/7 trading in crypto CFDs
  • Leverage of 10:1 on all platforms
  • Award-winning customer support
  • Superior trading tools and insights
  • Cons
  • No negative balance protection for clients other than in the UK and EU

Crypto.com

Crypto.com, founded in 2016 in Singapore, grew into a dominant cryptocurrency player with 80M+ traders. Besides offering 250+ cryptocurrencies to traders in 20+ fiat currencies, Crypto.com issues its token, Cronos (CRO). Crypto.com is one of the most convenient automated crypto trading platforms, featuring a “Trading Bot” section, allowing traders to automate strategies with a few clicks using the DCA Bot or the Grid Bot.

Depending on the geographic location, crypto traders may qualify for the Crypto.com Visa Card, which offers up to 5% cashback on transactions, paid in Cronos, placing Crypto.com among the most interesting automated crypto trading platforms.

  • Pros
  • 250+ cryptos for trade as well as staking and swapping
  • Competitive trading fees with some discounts
  • Offers credit card and crypto wallet
  • Allows users to invest in NFTs
  • Cons
  • Offers customer support only via text chat

Crypto Bots Advantages

One of the biggest advantages of using a crypto bot is that it can analyze market conditions and execute trades more efficiently and less emotionally than a human trader. Other advantages include:

  • No Impulsive Trades

In most cases, traders lose money because they let their emotions guide their judgment instead of basing decisions on planned strategies. Bots, however, are programmed to follow a set of predetermined rules, so they remove this common trading error.

  • Backtesting

Most bots have backtesting capabilities, which allow traders to evaluate their trading strategy against historical market data before risking real money in live trades. This helps minimize the risk of loss and improve the chances of success.

  • Super Execution Speed

To trade cryptocurrency successfully, you must be able to make decisions quickly. However, many traders suffer from indecision, which can lead to missed opportunities, especially in fast-moving markets. Crypto bots can process orders within milliseconds, meaning there is minimal time wasted in deciding to conduct a trade.

Crypto Bots Disadvantages

As with any trading tool, there are some disadvantages to using a crypto bot. These disadvantages include:

  • Potential for Loss

There is always the potential for loss when trading on any market, and this includes using bots. It’s important to note that just because a bot can execute trades faster than a human trader and against preset criteria doesn’t mean it will always make successful trades.

  • Costs

Some bots come with a cost, whether it be a one-time fee or a subscription-based model. It’s important to carefully consider the cost and weigh it against the potential benefits before investing in a bot.

  • No Human Touch

While bots can analyze market conditions and execute trades more efficiently, they lack the human touch. This means that bots may not always make the best choices, and it’s important for traders to monitor the bot’s activity and intervene if necessary. Think of it like flying using the autopilot, sometimes the human pilot needs to switch it off and take control.

In conclusion, crypto bots can be a valuable tool for traders, but it’s important to carefully weigh their advantages and disadvantages before using one.

How to Choose the Best Automated Crypto Trading Broker?

Crypto bots can be a valuable tool for traders, but it’s important to carefully weigh the advantages and disadvantages before using one. Here’s a quick checklist to help you select brokers with the best automated crypto trading bots:

  • Reliability: Choose a broker with a track record of reliable and secure operations. Established brokers regulated in secure jurisdictions are often an excellent choice.
  • Security: Make sure the broker has security in place to protect your funds and personal information. The best trading bots for cryptocurrency also tend to be the most secure ones.
  • Profitability: Look for brokers that offer high profitability, low trading fees, and customizable trading options.
  • Instruments: If you plan to trade a variety of cryptocurrencies, look for a broker with a diverse selection of instruments as these can typically offer more trading options.
  • Trading communities: Some brokers have active online communities where traders can exchange ideas and strategies supplying valuable insights for improving your own trading.

What are the Types of Cryptocurrency Trading Bots?

There are several types of crypto trading bots, each with their own unique features and purposes.

1.Technical Trading Bots

Technical trading bots are the most common type of bot used by traders today. By using predefined technical indicators, these bots can try to predict future price movements of a crypto to make a profit.

2. Arbitrage Bots

These bots take advantage of price differences in different global markets or exchanges.

Although arbitrage can be profitable, the profits are often small and require many trades to turn them into bigger gains.

3. Leverage Bots

Margin trading essentially boils down to borrowing money from your broker to execute a trade that’s bigger than the equity in your account. Bots can use these funds to execute trades efficiently.

4. Crypto Lending Bots

Cryptocurrency trading can be profitable when you lend crypto assets to margin traders, and they agree to repay the loan with an additional fee. A lending bot automates this process, so you don’t have to spend time setting interest rates manually and missing potential opportunities.

How to Invest in a Crypto Trading Bot?

Before investing in a crypto trading bot, it’s important to carefully assess the features and potential risks of the broker and platform. Look for reputable brokers that have transparent terms and conditions as well as good customer support, as these things tend to indicate a reliable and trustworthy provider.

It’s also a good idea to test out the bot on a demo account before committing actual funds to ensure that it meets your trading needs and goals. Additionally, diversifying your portfolio by investing in multiple crypto trading bots can help mitigate potential losses.

Lastly, constantly monitor and if required adjust your bot’s settings, as market conditions can change quickly, and this may affect profitability. Overall, a crypto trading bot can be a useful tool for experienced traders looking to automate their trading strategy and free up more time for other activities. However, it’s important to do your research and use caution when choosing a broker and investing funds.

Conclusions

There are a variety of types of cryptocurrency trading bots out there and the best bots for you will depend on your individual needs and preferences. With careful consideration and due diligence, a crypto trading bot can be a valuable addition to your trading strategy. However, always remember to check and adjust settings as necessary for the best results.

The most important thing to do with a bot is verify its track record. After all, if the bot hasn’t performed well in the past, why would you expect it to perform well in the future?

FAQ

  • Do crypto bots work?
    It depends on the specific bot and how it is used and market conditions. Some bots may be more successful than others, but ultimately, success will also depend on the individual trader and their trading strategy. Unfortunately, many crypto bots are not robust, and their performance does not remotely match their claims.
  • Can you automate crypto trading?
    Yes, automated crypto trading can be achieved using trading bots.
  • Are crypto trading bots profitable?
    Profitability will depend on the individual bot, market conditions, and how it is used by the trader. Its important to check your returns exceed the costs of trading. The most successful traders deploy automated strategies at the right time and with the right settings to suit the market conditions.
  • What are the most profitable crypto trading bots?
    There is no definitive answer as profitability can vary and is subjective. It’s best to research and assess multiple bots to find the best fit for your individual trading needs and goals.
  • When should I use crypto trading bots?
    It depends. Some traders may find it useful to use bots for certain trades or in specific market conditions, while others may choose to use them for all trades.
  • What are the best trading bots for beginners?
    Eightcap’s partner bot, Capitalise.ai, as well as MetaTrader 4 and 5 are recommended for beginner traders.
  • How much do trading bots cost?
    Costs vary, but there are some free options available. Paid subscriptions may range from $15 to $100 or more, depending on the features and level of service offered.
  • How do crypto trading bots make money?
    Some trading bots offer subscription-based services, while others may make money through affiliate partnerships or by taking a percentage of profits earned through trades.
  • Do I have to pay taxes on crypto bot earnings?
    Yes, gains made through trading activity, including trading bots, are subject to taxes. As always this depends on your individual situation so, please seek advice if you are unsure.
author
About Marcel Deer
With a background in journalism and digital marketing, Marcel is a keen crypto enthusiast and investor. A regular contributor to several crypto publications, he believes that META-based projects will soar in the coming years and is super-bullish on MeritCircle and the increase in P2E gaming platforms. Marcel is also excited about AVAX and FTM as ETH-chain alternatives, and any projects with strong utility, transparency, experience, and community marketing.