If you want to set up an advanced ATS like an AI crypto trading bot or a custom strategy, it is possible but will take a lot of time and effort since only a handful of trustworthy automation providers support the platform directly. We will cover some methods of setting up automated trading on OrangeX and name some third-party vendors that have excellent features and should be strongly considered by any contemporary investor.
How to optimize trades on OrangeX
This CEX is focused primarily on margin accounts and derivatives but also has a diverse spot market with new listings introduced regularly. When it comes to perpetuals, they are mostly used by experienced investors interested in building balanced portfolios. A futures contract is a great way of short-selling a long position, such as a stake in a yield farming protocol. However, focusing on derivatives as the main target for speculative operations is not advised.
There are three distinct products offered by this platform:
- The spot market features over 290 pairs. Traders can choose to focus on mainstream coins or engage with memecoins, DeFi tokens, and other digital assets. While liquidity is not as high compared to older CEXes, it is sufficient enough to make the experience of an investor richer. It is possible to leverage the diversity and flexibility of the spot market and create sophisticated automated systems to optimize profitability.
- Perpetual futures are offered for a variety of assets including BTC and ETH. Derivatives are excellent instruments for hedging if you are interested in employing advanced risk management techniques or building a delta-neutral portfolio. The futures marketplace is the flagship product of this exchange offering enhanced flexibility and giving investors all sorts of tools to protect their portfolios.
- Copy trading features are a valuable addition to the product lineup since this CEC lacks in the automation department. A simple OrangeX crypto not will copy the actions of experienced traders making it easier for newcomers to get started in the crypto market. Unfortunately, social components are usually far from being enough to allow users to achieve consistent returns and optimize their portfolio performance.
Using automation can be a great way to increase profits or create a side composition of assets. You can run an OrangeX futures trading bot to automatically open new short positions to protect investments or long-term holdings. While the native functionality of the platform does not have the capacity to build such systems, users can go to third-party providers like WunderTrading or CryptoHopper to create them.
Note that many established providers do not support this particular platform directly. In some cases, you will be able to find a solution by talking to the customer support staffers.
How to Configure a Crypto Trading Bot on OrangeX
The platform has a functional API gateway supporting public and private endpoints. Anyone can connect through a public gateway to obtain market data without authorization. However, users who want to interact with the spot and futures markets directly via various applications will need to use a private endpoint. There are two ways to connect to this CEC:
- Use a desktop or online app to access the platform's functionality. You can find many usable apps for automated trading on GitHub or purchase software from specialized providers. The issue here is that you will need to go through lengthy technical documentation and establish a connection manually. Such setups require good hardware, stable internet, and systematic maintenance to perform as intended. To top it all off, users must possess excellent coding skills and do a lot of groundwork.
- Working with a third-party automation vendor. Highly specialized companies like WinderTrading, CryptoHopper, or 3Commas deliver a great user experience and allow clients to build sophisticated systems capable of performing a variety of tasks. Usually, such platforms are directly integrated with selected CEXes but it is possible to create a private connection in some cases. Talking to the customer support team to find out if you can launch bots on specific platforms is the first thing you should do after choosing a good vendor.
The overwhelming majority of retail traders will end up picking the second option as it is more convenient and flexible than any desktop app. In the case of this particular exchange, the absence of native automation tools forces users to seek third-party solutions. If you are interested in running time-tested systems like grid trading for passive income, you won't have a choice and will eventually find a good provider.
The best trading bots for OrangeX in 2024
Any experienced investor will tell you that consistency is way more important than huge momentary profits. While the outcome of any investment depends on circumstance, you should be trying to build a balanced portfolio that works well across a long period without losing too much during market downturns and bringing in solid returns during bullish periods. When it comes to automation, retail traders have plenty of choices. It is a good idea to use consistent setups like distributed cost averages and grids to make money at a steady pace while creating riskier systems with custom signals.
Choosing exceptional crypto trading bots for OrangeX can be a challenge because the list of companies that support this particular CEX directly is quite short. However, it is possible to talk to the customer support team on the automation platform you like and inquire whether it is possible to create an API connection.
Below are some of the most popular, technologically advanced vendors in the automation sector:
- TradeSanta was established in 2018. It is a good choice for users who want to build relatively simple systems. Customization options here are lacking and building a flexible portfolio can be difficult. Nevertheless, the portfolio monitoring features and solid ready-made robots are with checking out. The smart terminal is a nice instrument if you are learning the basics of technical analysis. Many newcomers will find the automatic signaling system based on popular indicators very useful.
- CryptoHopper is one of the most recognizable brands in this segment of the crypto industry. The variety of available tools here is quite impressive. Users can build all sorts of ATS designs or simply use preset solutions like robots using the distributed cost average approach. The only real downside here is that social components are underdeveloped and may not satisfy experienced users interested in trust management. On the other hand, the CEX in question already has in-built copying capabilities.
- Gunbot is an interesting choice for technically savvy individuals who want to explore both the DeFi and DeFi sectors without switching automation tools. Gunbot is a highly customizable product that can connect to any exchange, centralized or not. The advanced LLM can interpret prompts from users to automatically write strategies based on their preferences. If you don't plan to run a massive ATS for market-making or statistical arbitrage, this vendor might be the best option out there.
- WunderTrading is an excellent platform that offers a wide array of tools capable of completely transforming your investment strategy. It is also a great destination for forward-looking individuals interested in novel technologies. WunderTrading's AI trading bot for OrangeX or any other CEX for that matter is a reliable instrument delivering outstanding results. The robot is using the time-tested statistical arbitrage system to manage a massive portfolio of assets. If you need something more consistent, the DCA trading robot is a solid tool for asset acquisition. WhnderTrading also has a diverse social marketplace that features managers from all integrated exchanges. All in all, it is a superb choice for any contemporary investor.
These platforms do not directly support this particular CEX. You will have to set up an API connection manually (in the case of Gunbot) or work with the customer support team and ask for this exchange to be integrated or connected for you personally.
We strongly recommend these platforms to retail traders who want to build a balanced portfolio with automated systems included to increase the efficiency of investments.
The main takeaway
If you need to build an OrangeX trading not, your options will be somewhat limited since the exchange is not supported by many excellent automation platforms. On the other hand, social components, a diverse spot market, and easily accessible derivatives may be sufficiently attractive propositions for many investors.