Top 5 Free & Low Cost Trading Bots – Trading cryptocurrencies can be a difficult undertaking, but trading bots can make it simpler. Trading bots are computer programmes that automate trading procedures and support traders in making wise judgements through the use of algorithms. If you are into Bitcoin trading, you may also consider knowing about the Auto trading bot. Despite the abundance of paid trading bots, there are also numerous free choices that might be useful to traders.
Cryptohopper
Cryptohopper is a popular trading bot that allows traders to automate their trading processes. It supports a wide range of exchanges, including Binance, Coinbase Pro, and Kraken. The bot can be customized to suit the trader’s preferences and allows for multiple trading strategies to be used.
One of Cryptohopper’s most notable features is its backtesting functionality, which allows traders to test their trading strategies using historical data before using them in live trading. This feature helps traders to refine their strategies and improve their chances of making profitable trades. However, it’s important to note that Cryptohopper is limited to a maximum of 80 positions per exchange.
Gekko
Gekko is a free and open-source trading bot that allows traders to automate their trading processes. The bot is highly customizable and can be adapted to suit a trader’s preferences. Gekko supports multiple popular exchanges, including Bitfinex, Binance, and Coinbase Pro.
One of Gekko’s most notable features is its ability to backtest trading strategies using historical data. This feature helps traders to test and refine their strategies before using them in live trading, increasing the chances of making profitable trades. However, it’s important to note that Gekko has limited technical support. This may be an issue for traders who require assistance with setting up or using the bot.
Zenbot
Zenbot is a free and open-source trading bot that allows traders to automate their trading processes. The bot supports a wide range of exchanges, including Binance, Bitfinex, and Kraken. Zenbot can be customized to suit a trader’s preferences and offers a range of trading strategies, including trend following and mean reversion.
One of Zenbot’s most notable features is its technical analysis tools, which allow traders to analyze market trends and make informed trading decisions. The bot also supports backtesting, which helps traders to test their trading strategies using historical data. However, it’s important to note that Zenbot has limited technical support. This may be an issue for traders who require assistance with setting up or using the bot.
3 Commas
3Commas is a popular trading bot that allows traders to automate their trading processes. The bot supports a wide range of exchanges, including Binance, Bitfinex, and KuCoin. It offers a range of trading strategies, including long and short strategies, and allows traders to set up custom trading bots using its platform.
One of 3Commas’ most notable features is its smart trading feature, which allows traders to set up complex trading strategies using multiple trading indicators. The bot also offers a range of technical analysis tools, including charting software and market trend analysis, to help traders make informed trading decisions. However, it’s important to note that 3Commas is a paid trading bot, with pricing plans starting at $29 per month.
Bitsgap
Bitsgap is a cloud-based trading bot that allows traders to automate their trading processes across multiple exchanges. The bot supports over 30 exchanges, including Binance, Bitfinex, and Kraken. It offers a range of trading strategies, including grid trading and trailing stop loss.
One of Bitsgap’s most notable features is its arbitrage trading feature, which allows traders to take advantage of price differences between different exchanges. The bot also offers a range of technical analysis tools, including charting software and market trend analysis, to help traders make informed trading decisions. However, it’s important to note that Bitsgap is a paid trading bot, with pricing plans starting at $19 per month. While the bot’s advanced features and support make it a popular choice among traders, the cost may be prohibitive for some traders.
Conclusion
For traders wishing to automate their trading procedures and benefit from sophisticated trading methods, trading bots can be a potent tool. The six bots we’ve covered in this article offer a variety of features and advantages, including portfolio management tools, backtesting capabilities, and technical analysis tools, which may assist traders in optimizing their trading methods and making educated trading decisions.
