Thanks to deep liquidity and diversity in the spot market as well as a wide range of derivatives available to all investors, it would be great to run a WEEX trading bot and focus on staple strategies like GRID bot crypto systems that can produce profits consistently. Unfortunately, investors interested in using robots will be disappointed to learn that the platform does not have integrations with the best providers in the automation industry.
The recent rollout of the public API gateway, which happened in April 2024, is a massive step in the right direction for the CEX known for its limited options in terms of tools available to retail traders.
How to set up a trading bot on WEEX
Since the vast majority of investors in the crypto ecosystem are users of ATS (over 65%, according to credible sources) and need additional tools to achieve consistency, it is hugely important for popular CEXes to deliver the necessary technological foundation to allow power users to work with the market in a manner that suits their requirements.
Forward-thinking individuals who want to use the best trading bots for WEEX can use two distinctly different approaches to creating a fully autonomous strategy:
- Desktop applications. GitHub has some interesting repositories containing code for robots that can be connected to any CEX that has a public API gateway. Some of the designs are great, others not so much. Alternatively, you can work with platforms like GunBot and HummingBot. The latter is a free, open-source instrument with a client that can connect to centralized and decentralized exchanges to run a variety of strategies.
- Copy trading is offered by the CEX natively. This is the WEEX bot for beginners as it allows newcomers to skip the step where they learn technical analysis and the quirks of the crypto industry. The platform has hundreds of lead managers who deliver excellent performances and allow others to follow them for a small fee. All traders who want to be copied undergo an inspection by the administration to ensure that they are professionals.
These options are quite limited in scope and flexibility. Many experienced veterans are used to deploying unique strategies based on signal-generating systems on TradingView. It is also important to have access to different types of robots. Running multiple instances of them is another requirement if you are interested in building an efficient fully automated trading bot capable of delivering outstanding investment outcomes.
An AI trading bot for WEEX
One of the loudest buzzwords in the fintech industry is “artificial” next to “intelligence”. The AI craze is something that makes all of us uneasy and excited simultaneously. However, throughout the year, we realized that machine learning has limitations and that we won’t be replaced by all-knowing analytical systems that can easily crack the code of infinite money-making in the crypto industry.
The slowdown of the AI hype train does not mean that people suddenly stopped using the most advanced LLMs or investing in machine learning. Quite the contrary, many companies are finally rolling out their versions of products improved by neural networks. An AI-driven crypto bot for WEEX is still something that clients would like to see in the near future.
Below are some companies that offer various robots that are powered by AI:
- CryptoHopper is a massive household name in the automation industry. Its recent introduction of grid robots that can automatically adjust positions depending on the market situation has been met with excitement. While we are still gathering data and need more proof that the system increases average gains from a robot setup that is already among the best performers, the current iteration of the product is more than usable.
- GunBot has a distinctly different approach to implementing AI into its platform. Since the platform can connect to any CEX that has an API, you will be able to create various WEEX AI-based trading strategies using this product. GunBot employs a proprietary LLM that understands requests from users and can write code to create scripts that deliver the outcomes described by investors. The LLM suffers from the same issues that other models, including hallucinations.
- WunderTrading is one of the most versatile platforms out there with its strong focus on innovation and iteration. One of the biggest announcements over the last two years was the release of their AI-enhanced arbitrage bot. This system is excellent at managing multiple positions at once allowing investors to build complex portfolios without compromising the efficiency of investment management efforts.
Unfortunately, out of these three great products, only GunBot can connect to the CEX directly. Even here, you will have some issues as the API documentation is in its early stages with new features being added constantly. To top it all off, the docs are available only on the corporate blog of the company.
Modern retail traders should try to include at least some version of an AI crypto trading bot in their portfolios. It is important to be among early adopters to take full advantage of the technology when it reaches maturity. Staying ahead of your competition can be game-changing in the near future.
An alternative to WEEX bot trading strategies
Many investors are choosing this platform for its trustworthiness (7/10, according to CoinGecko), deep spot market featuring 537 different coins and 578 pairs tracked by independent websites, and low fees. For example, makers on the derivatives market enjoy zero fees while takers pay just 0.06%.
The platform has many perks that are considered valuable by the community of crypto investors. However, the absence of flexible automation tools is a significant downside considering the sheer number of people who are relying on various types of ATS setups to achieve consistency.
Below are some ways that you can achieve the same results as if you were to use a WEEX automated trading bot:
- Switch to a CEX supported by leaders in the automation industry. For example, almost all companies can connect directly to Binance, which is the biggest CEX in the world by volume (over 17%). Many centralized exchanges also offer better terms than this one and can be accessed globally without any restrictions.
- Learn how to use HummingBot effectively. This open-source system is a great instrument for any contemporary investor. The tool is free. It is supported by partnered CEXes that provide funding and allow HummingBot to create templates that directly connect it to various exchanges. If you want to run a WEEX arbitrage trading bot, studying this product is quite important.
- Pick a good provider of robots. Companies like CryptoHopper, TradeSanta, 3Commas, and WunderTrading are great vendors of complex ATS designs that can be easily deployed on any CEX. These platforms can work with many massive CEXes including Binance, Kraken, Coinbase, and many others.
In many cases, choosing the third option is the most sensible thing to do. You won’t need to read through a lengthy WEEX crypto bot guide to get started. For instance, WunderTrading has an option to launch a ready-made bot in just a couple of clicks. It is quite easy to get started if you choose this provider and switch to a CEX supported by it.
The best automation vendors in 2024
If you are looking for a good provider to work within the crypto market, it is a good idea to choose from companies that have a good track record, expertise, and diverse product lineups. Even if they don’t support the exchange in question and cannot help you build a scalping bot for WEEX, these are still excellent SaaS companies that deliver a great user experience.
We want to give you several examples:
- 3Commas is a platform focused primarily on social features. It has a ton of user-generated content available for purchase on the marketplace. You can also engage in copying lead traders offering their services on multiple CEXes. If you are a beginner and want an easy start in the world of cryptocurrencies, focusing on this particular company is a good idea.
- GunBot is a versatile vendor that can operate across DeFi and CeFi sectors of the crypto market allowing users to build uniquely structured portfolios with ATS strategies working on custodial and non-custodial platforms. If you want to create a functional WEEX DCA trading bot to accrue assets for long-term holding, choosing GunBot is the only correct decision.
- TradeSanta has thousands of various strategies that can be deployed quickly. While it does not excel at customization or social features, the sheer number of ready-made ATS designs that do not require additional tinkering is very impressive. Since the variety of presets is the strongest aspect of the company, it is a great destination for newcomers who do not have much experience in technical analysis or managing portfolios.
- CryptoHopper is another household name. This provider is focused on streamlining the user experience and creating a product that can be effortlessly used by newcomers and professionals. However, the lack of a powerful social component can be a downside for beginners who often need some guidance before making their first independent moves.
- WunderTrading should be on your list of companies that deserve the most intense attention. This company has one of the best technological platforms integrated with several huge CEXes and signal suppliers. You can also create a fully custom ATS design that relies on a technical analysis strategy deployed on TradingView. Among useful ready-made products, you will appreciate the DCA bot crypto setup that can be launched in one click.
All these companies have flexible product lineups and can be used to create efficient portfolios that perform above expectations. However, only GunBot can be used directly to create a WEEX futures trading bot when the exchange rolls out API support for their derivatives. Right now, the biggest vendors of robots in the industry are not integrated with this particular CEX.
The main takeaway
It is possible to automate some of the operations on this exchange and achieve good results. The immediate availability of social elements is a definitive advantage that makes it easier for newcomers to get started. However, the fact that the best providers of services are not integrated with this platform is what holds it back.