Margin.de Bitcoin Exchange Trading bot Review
Margin.de’s trading bot isn’t new and has been in the market for years with a different name Leonardo trading bot. Margin.De acquired the bot and merged it with it’s exchange platform, making it further compatible with other exchanges as well.
Why you should choose this?
Ease of Use (8/ 10)
Trading through the Margin.de’s platform is easy. The visual editor makes it easier for beginners to get started. The interface is fairly simple and has a stellar onboarding experience when signing up. Knowing that a significant number of users may not be technically savvy, the platform has several documentations are video walk through for users who may get stuck trying to use the bot.
For any trading engine, the requisite is speed and it has to quickly to buy and sell when the suitable price is reached. The bots are efficient when it comes to placing the order and trades happen smoothly. Even if your account has multiple exchanges connected, the trades happen seamlessly.
Pre-set strategies (6/10)
This is a widely requested feature for beginners and even experts. Beginners who are embarking in cryptocurrency trade can use these preset strategies to their advantage. To begin with, the platform has three preset strategies that a trader can make use of, additional strategies can be added from experienced traders who make them available.
The bot is completely customizable with multiple parameters. The bot runs continuously and when any of those parameters set by the user is met, the transaction is completed. You can even run bots with different strategies for the same exchange.
Margin.de has robust security measures put in place to thwart any untoward attacks on the platform. The primary defense is Two Factor Authentication (2FA) that asks the customers to setup app or SMS based authenticator to continue logging into the account. Apart from that the platform has restricted access to APIs and has put in place various measures to safeguard data that it collects from users.
Multi-Exchange Support (8/10)
Margin.de’s platform trading bot connects to several exchanges like Binance, Bitfinex, Bitstamp, Coinbase Pro, Gemini, Huobi, Kraken, KuCoin, and Poloniex. Several other exchanges might also get added in the future. Connecting to the exchanges through API keys are fairly easy and the instructions are clearly mentioned for each exchange.
Bots are priced at $19 a month (annual plan) and other pricing options such as a lifetime license that’s $499. This lowers the entry barrier for everyone who wants to start using trading bots.
Available only on Desktop app
The trading bot platform is only available as a desktop app and not as a web interface or a mobile app. This makes it hard to keep track of things when you are away or don’t have access to a computer.
Needs Constant Tweaking
The bots are programmatic and are based on conditional logic. This requires regular updating of logic. Though it performs exactly what it is set to do, it isn’t backed by Artificial Intelligence (A.I) . A.I based systems can suggest different approaches based on the constant analysis of the market.