Do you know how many coins are there? According to the aggregator CoinMarketCap, over 18,000 various coins and tokens have been traded at least once on an exchange. This number is mind-bending to some and nothing new to others. Most traders are accustomed to seeing new ICOs and DApps appearing from seemingly nowhere and gaining traction within hours after initial announcements.
It is a wild world with too many assets to track. With so much variety and incredibly difficult risk assessment, many investors turned their eyes towards automated trading solutions that mitigate some of the downsides commonly attributed to human traders. What are the advantages of using automation in trading?
- Less downtime as machines does not have to eat, sleep, or have any social life.
- Faster decision-making is immensely important with so many things happening at once.
- Better trading results compared to average traders.
- Consistency and immediate communication between bots and exchanges.
- Fewer mistakes are caused by anxiety, agitation, or other strictly human emotions.
Services like copy trading crypto (a bot that copies trades initiated by established, result-oriented traders) or automated trading terminals that execute orders according to predetermined algorithms make routines useful. When a trading system is employed, one has to stick to it and maintain consistency. However, humans are rarely capable of following their own rules efficiently.
We are going to take a closer look at two products: WunderTrading Trading Bot and CoinRule. These two will be the main focus of this detailed review.
Setting up the products
While both platforms claim that their solutions do not require any technical know-how, we decided to try to start using both with fresh new accounts to check out whether any of them are more user-friendly in terms of initial setup.
WunderTrading Trading Bot
The registration process is quite simple. You need to provide your e-mail, come up with a user name, and make up a good password. Then, verify your account using a link sent to your e-mail. The dashboard is quite intuitive and user-friendly. All necessary control elements are grouped in the left part of the menu where you can go to the terminal (if an exchange was connected).
You will be offered to connect an existing exchange account to the terminal. The whole process takes several clicks. Everything is intuitive and simple.
While the registration process is essentially the same, there is an option to set up a new account using your profile on Google or Facebook. Both options may look appealing to users who prefer the convenience of one-click registrations but some experts believe that such options reduce security.
As in the case of WunderTrading, you will be promptly asked to connect your exchange account with the service. The terminal looks polished. It is hard to find any downsides when reviewing the UI. Every detail looks compact, conveniently placed, and well designed.
WunderTrading bot review: notable features
Automation is what you are after if you are a member of the WunderTrading community. Several key features make this particular product distinctly unique. First of all, the menu contains helpful links that are useful to new users:
- The Help Center is an extensive library containing all possible answers to questions that inexperienced users may find puzzling. If you need to learn anything about the product or features, check out the knowledge base.
- Bitcoin analytics is a perfect tool for those who like detailed technical analysis with information about as many market metrics as possible. The collected data is neatly presented on a massive dashboard with informative indicators.
- The Roadmap is a great resource if you are interested in the future of the product. Many users come to WunderTrading to stay for at least a couple of years. Knowing what to expect from the developers is quite important to long-term investors.
For many users, the WunderTrading platform is an excellent destination to not only invest quickly and without any hassle but also learn more about technical analysis. The features are quite powerful yet require some understanding of the market to set them up efficiently. Whether you are an experienced trader with years of experience or a newcomer to the world of financial markets, you will find the list of features of WunderTrading more than appealing.
- Crypto trading bot. This feature is the main draw of the service. The bot is capable of executing complex scripts according to initial inputs. You can determine when to buy, sell, or stop trading. There are presets proven to be efficient during certain trends. For example, some scripts work best when the trend is bullish while others deliver results during dips.
- Copy-trading crypto. Since the market is quite diluted both in terms of the number of unique assets and the number of active traders, it is remarkably hard to become good at trading crypto. Following those who figured it out is generally a good idea. This feature allows you to peak at some of the best-performing investors and repeats their trades.
- Arbitrage trading. One of the most important and heavily used services is arbitrage. With several exchanges competing for attention from traders, price differences are inevitable. There could be a better price to sell your BTCs on Binance rather than on Coinbase. The bot will figure out the difference and try to make a cross-trade to obtain a good margin.
- DCA trading. This feature is often used by conservative investors who prefer to stick to safer strategies that involve diversification and better risk management. DCA allows users to purchase a specific value of an asset when a certain price deviation is reached on the market. In many positions, you will significantly reduce the effect of volatility and enjoy better results.
Other notable features include multiple account management and a dashboard where you can track your whole portfolio in an organized manner. With so many great features, WunderTrading deserves all the attention it gets from both long-term conservative investors and risky day traders.
Coinrule trading bot review
The immediate difference between the two platforms is the way features are presented in the control panel. Coinrule takes a simplistic approach to building a UI and allows users to get started right away. There are several important parts of the menu:
- The Help Center has a multitude of useful articles explaining in great detail how to use the service, integrate various APIs, or learn technical analysis. While the information is presented nicely and articles look well-researched, the lack of focus and systematization leaves a lot to desire from the knowledge base.
- The Rules section. This part of the menu is the heart of the service. Here, you can set up specific algorithms using a very basic yet quite powerful script editor.
CoinRule bot review: creating rules
If you want to set up a rule, you need to follow these steps:
- Click “Create a new rule”. This action will open a new window in which you can edit the rule.
- Choose where the rule will be applied (select an exchange from the dropdown menu).
- Choose the event (a certain price point reached by a chosen asset). This section works as an “IF” operator.
- Choose the reaction to the event (you can edit the delay and execution method).
- Launch the script to see how it operates on the exchange in real-time.
In essence, the rules editor is just a simple “IF… THEN…” script that has integration with several exchanges. While there is not much to work with in terms of creativity and complexity, the ease of scripting and intuitive navigation make up for the lack of more in-depth features. Some traders may like this approach better.
The list of supported exchanges contains:
- Binance. One of the biggest exchanges out there with an excellent mobile app.
- BitPanda. A global exchange that has distinctly Asian roots.
- Coinbase. One of the founders of the whole industry.
- Kraken. Used by veterans and early adopters.
You can also connect BitStamp, Liquid, OKX, Poloniex, and HitBTC. Additionally, enjoyers of leverage trading may use their accounts in Binance Futures and BitMEX. The selection is great and the process of connecting is also simplified to a bare minimum of actions.
Reliability of service
It is hard to say which is better in terms of reliability and uptime. Both services demonstrated excellent resilience to various external threats during the time of their existence. However, it should be noted that CoinRule is still in its beta phase. Some errors do occur from time to time and servers may have some lagging issues.
On the other hand, the lack of back testing in CoinRule is quite upsetting and shows that some critical features are not implemented yet and we do not know whether their architecture assumes such important tools in the final kit of the service. When using the WunderTrading copy trading tool or any other script, you will be able to back-test them immediately.
We never had any issues related to downtime or errors when working with WunderTrading. It is an excellent platform that has a long history without any hiccups or significant interruptions of service.
WunderTrading and CoinRule Pricing
A tool must do what it was designed to do but also be priced reasonably. Both services rely on the subscription system with several plans aimed at bot professionals and small-time investors. Prices may change over time due to a variety of factors but some core differences will most certainly remain unchanged. Let’s talk about offerings that you can expect from these two companies.
CoinRule’s plans include:
- Hobbyist. Basic functionality with 7 active rules and 7 rules on the demo platform. Users may access the database with 40 presets, trade within a $300 thousand monthly limit, and utilize advanced analytical tools including some unique indicators.
- Trader. This plan is a little bit more advanced and allows users to create up to 15 different scripts and enjoy the benefits of free coaching from a professional trader. You can also integrate TradingView. The latter is quite puzzling to us as hiding such an important feature behind a paywall does not feel like a good decision.
- Pro. Prioritized execution of orders, a dedicated server, and up to 50 active scripts — this plan looks like an ultimate solution for a seasoned professional. It is quite pricey and demands significant time resources from a team of investors each working on specific assets and scripts.
The selection of subscription plans is limited to these three and there is a 25% discount when choosing the annual payment option. However, the differences seem arbitrary. The service does not offer anything outstanding for upgraded versions of their product. Quite honestly, the vast majority of traders will be more than happy with the initial offering since 7 scripts is a good number for many traders.
WunderTrading’s plans include:
- Frees. This basic account allows users to integrate 1 API, run 5 positions using 2 active bots, and access terminal features such as Spot Trading and Futures Trading terminals. You can edit events and scripts as you see fit.
- Basic. This plan includes everything that is offered in the free version and adds 15 positions, 5 simultaneously active bots, DCA trading, and other QoL improvements that day traders will most certainly appreciate.
- Pro is a great choice for anyone. You can have over 100 open positions at once, work with 15 bots, and connect 5 APIs while accessing all possible services including Spread Trading and Swing Trading. This is a generous offer since it is priced similarly to the “Hobbyist” plan from CoinRule.
- Premium. The ultimate plan with unlimited bots and APIs. It is great for enterprises and various fund managers who would like to use automation in trading to its fullest potential. The price is more than acceptable for so many features.
The variety of options in WunderTrading is more than welcome. However, the flexibility of pricing is even more appealing. You can receive a discount (up to 25%) depending on which period you choose to pay for. Different discounts are available for 3, 6, 12, and 24-month periods.
When it comes to dealing with any SaaS project, the quality of support is crucial. Regardless of how polished the whole architecture seems to be, holes in design or security are inevitable. Users must have a quick and convenient method of communicating with the developers and technicians capable of solving problems within the shortest timeframes.
CoinRule employs two main methods of communication with users: live chat and e-mail. The live chat is seemingly understaffed as replies are often left unanswered for up to an hour. Nevertheless, answers are usually detailed and, once you get to talk to someone, customer support workers are attentive and provide good assistance.
As shown in this WunderTrading trading review, it offers a wide range of communication channels. It is unlikely that you will encounter an issue that cannot be resolved quickly. Live chat and e-mail support systems are in place. To top it all off, you can use a variety of social media platforms to ask for assistance. Customer support employees lurk on Reddit, blog on Telegram, tweet regularly, and manage communities on Discord and Facebook.
The number of ways to talk to support technicians matters. We believe that the best support is the one that can be received as quickly as possible. In terms of assistance, deciding what’s best between the two is easy: WunderTrading is a much better choice when judged by how quickly you can get help.
User experience comparison
A CoinRule alternative is any service that has basic scripting and exchange API support. The biggest advantage of this product is its user interface. The whole process of creating a new rule is satisfyingly simple. You do not need to write any conditions or specify events or choose much of anything. You decide where to trade, when to trade, and when to start doing it.
The avoidance of complexity is intentional. CoinRule wants to make it easy for laymen to start using its products. Everything is streamlined and even the whole visual design with corporate style and aesthetically pleasing control elements make it apparent who they target. While it may serve as a good introduction to the world of automated trading, you won’t find any true depth or advanced tools for efficient money-making.
WunderTrading is less user-friendly. It overwhelms new users with information and decision-making. However, it is exactly what makes it great. New users will have plenty of opportunities to learn more about technical analysis and the volatile nature of the crypto market. Veterans will have a whole arsenal of efficient, state-of-the-art tools at their disposal.
This complexity is more than important since different people have different styles of trading and want to try many strategies simultaneously. If you are interested in such diversity, WunderTrading is the way to go. You won’t find a better service.
The main takeaway
These two platforms are quite different despite having similar features. CoinRule is dedicated to streamlining the process of script-making and focuses on delivering an easy-to-use yet arguably very shallow product that does not have any complexity that would make it truly useful to a seasoned professional.
WunderTrading is a multifunctional platform that has several distinct features such as Spread or DCA trading as well as a more flexible pricing model. While it may take some time to learn everything about all the bots from WunderTrading, the end game is quite more appealing in terms of pure potential.