Introduction to Trading
Trading is the buying and selling of financial instruments to earn a profit. These instruments vary from different assets allocated to a financial cost that goes up and down – and you can trade on the path they take. You may also have given attention to stocks, shares, and funds, But Today Cryptocurrencies are the newest trade asset, and the OKEX trading bot has provided an easy way to trade.
The distinction between trading and investing lies in the means of earning revenue and whether you snatch holding of the asset. Traders profit from buying low and selling high (long) or selling high and buying low (going short), usually over the short or medium period. They don't hold the assets they trade. OKEX trading bot is interested in this mood of earning revenue. Investors try to buy shares at a fair rate and take stock possession. They make it by holding the stock and selling it at an increased price. The expectation is that the share price will rise over the long-term, and they will benefit from the trend. OKEX trading bot helps you to recognize the best spot to enter the trading process.
What Are Trading Bots?
Crypto trading bots are bots employed to automate trades. They are agendas that are implemented to generate particular outcomes in trade.
Although you can only run to a crypto bot trading platform and begin utilizing trading bots with pre-defined regulations, you can similarly plan them to outfit your trading necessities. For instance, you can rewrite the settings on a bot to formulate it to buy a particular cryptocurrency at a specific time or rate, according to your crypto trading strategy. OKEX trading bot is one of the most accessible to work with and tune the settings.
Crypto bot trading platforms deliver backtesting assistance that allows you to exercise such a strategy before applying it in your trade. This considerably decreases your trouble as you run into such a trade.
The next vital function crypto trading bots play is excluding human feelings in trade judgments. No matter how professional you are, you may be caught up with excitement and make errors that cost you a bunch of capital in trades. Similarly, it worries about trading psychology and how it influences crypto trading.
OKEX trading bot performs commands and cannot alter because it does not have feelings, which can protect you from damage. It furthermore does not need any high-level specialized ability to perform, making it a go-to treatment for trading nowadays.
How do Bots work?
Platforms create crypto trading bots with explicit regulations that pertain to trades, but you can revise them to outfit your particular purpose. Possibly their most remarkable aspect is that they labor 24/7, which is something no human can commit. You can project them to perform trades at particular times, day or night, based on how the market changes position. OKEX trading bot is one of the fastest and most accurate bots which supports all your needs.
Bots fit whom?
As cited before, crypto trading bots do not need outstanding programming or different talents. Thus, even an exact trading beginner can manipulate them for trading.
Of course, developed traders are similarly threatened by allowing their impressions or other problems to get in the way of performing trades. To support, they use trading bots occasionally, e.g., when they desire to commit transactions at night. Today lots of traders are using OKEX trading bots because it fits everybody with any proficiency level.
Traders cannot trade all day and all night, so trading bots can land in heaven at such times or when they are engaged with other concentrations.
Let's go inside the OKEX trading bot!
OKEX trading bot is a proper strategy wr can do in order to have good result in crypto world. Don’t forget that the world of investment is vast enough we will be at high risk of loss. Thanks to this bot we will be able to decrease the rate of loss.
Introduction to OKEX Trading Bots
OKEX is one of the vastest cryptocurrency industries, producing over $1.5 billion in earnings through its futures trading platform independently. In this manuscript, we will discuss the best OKEx trading robots. Crypto trading bots are just computer agendas to execute a trading strategy. Employing these robots, you automate your trading cycle and intensify your profits.
This progressive exchange was built by Star XU in 2014 and emanated from the OKCoin exchange. The central objective of the business stands to fascinate competent Bitcoin traders. OKEx, like other Chinese exchanges, launched its utility token in early 2018. Users can employ this token to give money for complete services on the exchange platform, such as enhanced API rate limits and customer assistance.
OKEx exchange presently offers 366 various cryptocurrencies that can be traded on the website against over 90 fiat currencies such as USD, AUD, NZD, THB, CAD, EUR, and BGP, assuring that nearly all crypto lovers and traders around the planet can access digital assets through their regional currency. As well as proposing a decent collection of digital assets to buy and trade, the number of markets is equally impressive, with 826 at the time of writing.
OKEx furnishes users with a variety of means to attain cryptocurrencies. There are presently three primary ways to buy digital assets.
-Direct crypto investments paid by Visa and Mastercard credit cards.
-Direct investments from other OKEx traders utilizing the Peer-to-Peer (P2P) marketplace.
-Buy cryptocurrency by trying 142 payment methods like credit cards, Apple Pay, SWIFT, Advcash, and MenaPay.
Users who want to trade one cryptocurrency for another can do so with zero fees and no spreads. For a crypto conversion feature, OKEX furnishes users with a substantial spectrum of swapping options with more than 100 financed digital assets, which is further than the utmost of other platforms. The crypto swaps platform can similarly be employed to exchange stablecoins with USDT, GUSD, USDP, and USDC supported.
Users can automate their trading actions by benefiting from the mixture of crypto trading bots proposed on the exchange. OKEx's trading bots provide traders with automated custody to decrease risk while exploring satisfactory results.
One of the benefits of OKEx trading bots is that they can be organized in the trading interface, meaning that users retain sight of real-time charting and analytical instruments. Furthermore, users can enable OKEx to establish predetermined factors like price spectrum or enter them themselves. While OKEx's trading bots are identical to those delivered by other international platforms, the possibility to decide from AI-selected parameters or manually input them equips a tremendous deal of flexibility for traders.
Seven OKEX trading bots
Trading robots enable you to maximize your revenue and minimize your risks. Besides, they assist you in saving time, which helps you to capitalize on other businesses. Presently, let's discuss these seven robots.
1) CryptoHopper
The CryptoHopper bot has a mobile app that enables you to automate your trades rapidly. Additionally, the robot supports automatic trading, copy trading, etc. You can furthermore shift the trading strategy to outfit your monetary purposes.
Characteristics
One of the most excellent characteristics of CryptoHopper is the cryptocurrency market robot. Automatically performs buy and sell orders due to liquidity. Thus, he receives a slight revenue from the market spread. This robot has a strategy planner, arbitrage mechanism, paper trading mode, social trading platform, Crypto Signals telegram bot, etc.
Price
To admission the auto trading properties, you must get the paid version of CryptoHopper. This compilation has three categories: explorer kit, adventure kit, and hero kit.
Is CryptoHopper legit?
It has been performing in this market for more than three years. Thus, it is credible, safe, and legitimate. Besides, it employs API keys to refine trades and cannot withdraw capital from your account. So, it is pretty safe to try the robot, but trading robots may not be practical if there are unexpected oscillations in the market.
Pros and cons
+ Investors' availability of high-level exploration software
+ You merely expected to pay the subscription fee
+ The mobile app has perfect security form
+ The market for this robot offers special services
- The support team is not accessible via mobile
- To access all the decent elements of the robot, you need to pay for a monthly subscription
2) Bitsgap
Bitsgap is another popular trading bot provider and functions nicely as one of the useful OKEx API bots. Also, it supports various exchanges simultaneously, and using this robot; you can govern all your accounts from one place. This platform supports 25 deals, containing Binance and Kraken. You can test and use some aspects of the bot in a free 14-day trial. It is one of the ellite OKEX trading bot.
Characteristics
Bitsgap has many characteristics, encompassing arbitrage, trading terminal, portfolio tracking, etc. For instance, arbitrage assists in maximizing the price discrepancy between various exchanges. Also, the Bitsgap futures trading robot is one of the rare on the market.
Trading terminals encompass innovative charting instruments to help traders. Eventually, one of the decent characteristics is the demo trade mode that enables you to assess the robots.
Price
Bitsgap has three subscription programs, and each program benefits a 14-day trial period.
Is Bitsgap legit?
Bitsgap is a safe and legitimate trading bot. Furthermore, it employs refined 2048 encryption techniques to ensure complete safety for its clients. Plus, it utilizes API keys and does not have tickets to your assets to withdraw capital. Likewise, no deposits are formulated directly on the Bitsgap platform.
Pros and cons
+ Simple configuration and settings
+ arbitrage
+ Signal item
+ 14 days of trial
+ Providing elegant testimonial bundles to accounts with poor equity
- Limited functionality
- No mobile app
3) 3 commas
3Commas is a trading bot established in Miami that can execute different trading strategies. Further, it is an excellent choice for traders without technical knowledge in trading commerce. Moreover, this robot can cause customize distinctive trading positions utilizing its user interface.
Characteristics
The 3Commas platform offers exciting features, including DCA bots, grid bots, trading terminals, options bots, third-party marketplaces for cryptocurrency trading signals, and more.
Price
The monthly subscription schedules on 3Commas are distributed into four portions, and if you pay for an annual plan, you get a rebate.Are 3Commas legal?
3Commas trading bot employs API keys to engage the exchange. Also, the platform's terms of service are ambiguous, and the bot gathers user-specific trade data. Still, the committee adopts the collected data to enrich their trading bots.
Pros and cons
+ Cheerful user interface
+ Unique subscription schedules for traders of all degrees
+ Access to a basis of robots that can be handily copied
- The configuration and usage procedure are disturbing for novices
- Slow and lagged mobile app
4) Shrimpy
The shrimpy trading bot enables you to automate your long-term trading techniques. This long time is because this robot encompasses a comprehensive database of the execution of various traders. With a social trading platform, this robot permits you to duplicate the strategies of experienced traders. A crucial benefit of Shrimpy is that you can obtain prior and current historical data from numerous exchanges.
Characteristics
Shrimpy proposes a social profile administration system that enables you to duplicate the strategies of experienced traders. Also, Shrimpy is built to manage and develop a profitable portfolio over the long term. Above all, a significant advantage of Shrimpy is the set of relevant and valuable APIs that it supports.
Price
The Shrimpy social trading platform prices $19 per month and provides you admission to every accessible characteristic., There are two other subscriptions on this platform, too.
Is Shrimpy legit?
Shrimpy is a safe and legitimate trading robot. It has good prestige in the market and has not had any safety problems. This platform is constructed to improve traders' portfolios and does not have direct access to your exchange account.
Pros and cons
+ Focus on portfolio development in the long duration
+ The best for novices
+ Simple and intuitive user interface
- lack of trading terminals
- No mobile app
- No support for trading robots and texts
5) Wunderbit
Wunderbit is a choice to automate your trading as an API bot. It is a decent choice for traders and investors of all grades. Wunderbit bids trading and trading assistance separated from automated trading bots.
Characteristics
The intelligent trade automation domain has adjustable and related instruments. These encompass automated smart cryptocurrency trades, a free trading terminal, multiple account administration, etc. For instance, through the Wunderbit trading terminal, you can launch your trades with no fees at all exchange. The platform offers characteristics like social trading market and a pyramid mechanization boot.
Price
Wunderbit has four subscription schedules to enable you to automate your trading procedure. This robot similarly furnishes some trading automation characteristics in the free schedule.
Is Wunderbit legit?
Wunderbit is a secure and legitimate cryptocurrency trading bot that enables you to boost your revenue and lessen your risks. It utilizes API keys to reach your exchange account and cannot withdraw from your account.
Pros and cons
+ The pyramid automation robot assists you with a creative strategy
+ It permits you to backtest the procedure with the robot
+ Simple and intuitive user interface
- No mobile app
- The platform is in its initial phases and does not have numerous clients.
6)Quadency
Quadency assists its customers as an OKX bot because they are impressive and simple to employ, and they furthermore appear to be one of the most celebrated and prominent crypto trading bots.
They submit off-the-rack tailored bots so that you can begin operating with them straightaway, and you can pinch your but if you don’t appreciate everything it delivers from the get-go.
These gentlemen will make it much more comfortable for you to go live in only a few minutes, and you can engage in more than one exchange, so if you have your crypto spread across numerous businesses, not just OKX, they can be of employment.
They perform everything promptly and credibly, just the professionalism you desire to get everything worked nicely.
They deliver both pre-built and tailored boots, so you may select between these two alternatives based on what you are attempting to attain.
7)Coinrule
Coinrule is a popular preference when it moves toward standing an OKX bot because it can assist you with your crypto techniques, and it can similarly enable you carry out these against your beloved exchange, like OKX.
They are fantastic if you are a trader that wishes to take exact supervision of his trades and you like to construct a bot that is custom to your necessities in a couple of hours or even just a few minutes.
They allow you to select from various trading strategies and make it simple to design your strategy if you are a developed trader. So, you may employ this platform no matter your status as a crypto trader.
They possess pre-built templates that you can make the head of, and they allow you to assess your strategies before executing them.
OKEx is among the tremendous outstanding cryptocurrency exchanges and proposes different trading possibilities with meager fees. Third-party trading bots are crucial for traders who are busy enough to gaze at a screen all day. For instance, Cryptohopper is remarkable for its market maker bot and sole Marketplace. At the same time, the Bitsgap demo trade method enables you to examine your strategies. Meanwhile, 3Commas has intelligent bots, encompassing an options bot and GRID bot, to carry out numerous trading strategies. Besides, Shrimpy is desirable for traders who like to concentrate on management and develop their portfolios for a long duration. Wunderbit empowers a free trading terminal and social trading marketplace. Finally, there are two others useful OKEX trading robots, namely, Quadency and Coinrule, with their particular context and opportunity.
OKEX Trading bot's Modes
As a dominating cryptocurrency ecosystem, OKEX delivers an extensive portion of products and services. Besides its enormous trading sets and decentralized finance contributions chances to produce passive revenue for businesses, OKEX delivers a customizable crypto trading bot to enable you to leverage different automated trading strategies.
This mentor submits each of the OKEX trading bot’s strategies. The bot has seven distinct modes. The spot grid, futures grid, smart portfolio, and recurring buy strategies are favorable for users of all knowledge and proficiency degrees. Meanwhile, arbitrage, iceberg, and TWAP modes are nicely fitted to more trained traders, as they deliver extraordinary risk and complicatedness or are most beneficial when trading high-volume orders.
Trading bots' modes
The OKEX trading bot has seven modes— spot grid, futures grid, innovative portfolio, recurring buy, arbitrage order, iceberg, and TWAP— reasonable for different objectives and demands.
Spot grid, futures grid, smart portfolio, and recurring buy are the most explicit modes to employ and take the slightest threat. They’re excellent for traders and investors of any proficiency. Simultaneously, arbitrage orders, iceberg orders, and TWAP are fitted to developed users. These OKEX trading bot modes have more detailed risk profiles or are merely helpful for those traders making heftier orders.
Spot grid
The mode is excellent for traders of any quantity and knowledge level wishing to catch more revenues from asset volatility. The bot fixes grid lines between an upper and lower price established by the user and automatically sells crypto if the traded asset’s rate rises and touches one of the lines. Contrarily, the OKEX trading bot automatically buys crypto if the rate lessens to one of the lines.
You can specify the spot grid’s regulations or assign the AI strategy, which is established on prior price actions. The AI strategy employs back-tested regulations that will likely conclude in the most successful trades. Fixing the trading bot grids yourself is somehow riskier but enables better user control.
Futures grid
The futures grid OKEX trading bot is identical to the spot grid but buys and sells futures contracts instead of buying and selling assets in the spot market. It employs a grid system to perform orders above and below the current rate and buys and sells separate futures contracts to benefit from price volatility. Futures grid mode follows three trading strategies: long, short, and neutral.
A significant discrepancy between the futures and spot grid modes is the possibility of trading with leverage on futures contracts. Users can heighten their position size with power, making it an extra capital-efficient strategy that leads to significant additional earnings. Of course, leverage trading takes risks, and it’s essential to comprehend them before employing the futures grid mode.
Smart portfolio
The smart portfolio is the trading bot’s automated portfolio balancing characteristic. When adopting the strategy, traders identify how much their chosen crypto assets should make up their smart portfolio. If price volatility results in an asset representing more than its calculated funding, the bot automatically swaps the help to buy those underperforming.
The bot favors two rebalancing catalysts. In “scheduled” mode, it tests the amount of each asset at periodic intervals established by the user. If it identifies a divergence from the calculated fundings, it sells the support that has enhanced total portfolio share and utilizes the proceeds to buy the other assets or assets.
In “proportional” mode, the bot rebalances the portfolio when it has become imbalanced by a user-determined percentage. Presume you regulate your innovative portfolio to rebalance on a 5% or more imbalance with a 25% ETH funding, a 25% SOL funding, and a 50% BIT funding. If BTC price pumps near ETH and SOL, and your BTC comes to be 80% or more of your total portfolio, the bot will sell BTC to purchase ETH and SOL.
The smart portfolio bot snatches revenue for you and adjusts it into different assets that have not been increased yet. The trading bot strategy functions best with portfolios encompassing associated but volatile assets.
Smart portfolio mode is extremely customizable, too. In addition to the two different rebalance catalysts, you can list up to 10 cryptos in your portfolio and determine an individual percentage for each.
Recurring buy
Recurring buy is OKEX’s automated dollar-cost averaging instrument. You can employ it to buy up to 20 unique cryptocurrencies at conventional periods to average out a crypto investment’s cost basis.
The bot uses your USDT balance to buy crypto at assigned intervals. OKEX supports recurring buys with credit and debit cards via the “Buy Crypto” section.
Dollar-cost averaging is one of the most precise investment strategies because it doesn’t need skill, just long-term belief in an asset. The bot also makes the DCA strategy more particular to execute — you simply fix it and pass it over!
Arbitrage order
The arbitrage order trading bot simplifies gathering profits from price differences between different trading tools assisted by the OKEX trading bot. The arb crypto bot attempts to establish what is realized as “delta neutral” positions. This implies that if one position forfeits money, the other arm of the trade must make the exact quantity, causing no loss or profit. Profits are attained from price discrepancies between tools or allocation rate fees made by perpetual swap traders holding positions in profit.
The bot has two modes. In funding rate arbitrage mode, a long or short position is implemented in the spot market for any supported crypto. Simultaneously, the bot executes the opposite function in the same asset with a continual swap. The two positions must be delta neutral, which suggests that any allocation rate payments earned from the trader on the opposite wall of the perpetual exchange are revenue.
Spread arbitrage mode grants chances to benefit from the price discrepancies between futures contracts with various concession intervals or futures and spot prices. When the bot performs delta neutral positions with the similar underlying asset utilizing two oppositely priced tools, the discrepancy becomes earnings at the settlement time.
Although the arbitrage crypto trading bot formulates it very simple to execute successful arbs between different tools, it is a narrowly more complicated strategy than those cited earlier. There is similarly more risk entailed, especially when formulating custom arbitrage portfolios. Hence, we do not suggest the arbitrage bot to absolute beginners in cryptocurrency trading.
Why rely on OKEX?
The decent report is that as far as OKX exists, it is entirely OK to get help from a trading bot. They back these solutions, mainly if you are a trader that prefers to trade like this.
This is because they hope to stay competitive and valid with other names that are similarly ratifying trading bots, and they have consumed lots of time investigating the market and organizing characteristics that are going to not merely assist their customers but enable them keep up with the race.
They resume growing their base as a corporation, and they similarly care about developed traders as well, so no matter what level of trader you are, you will be able to invest in their features.
They have an extensive API, which implies that you will be able to attach your trading bot to the exchange handily, and you won't have to confront any aftermaths for it.
Any Special Software?
The brief explanation for this topic is that no, you won’t have to download any different software to employ a trading bot on OKX. If you need to have the bot installed and operating on your computer, you can.
Yet, providers will make it susceptible for you to administer cryptocurrency trades through your OKX bot in the cloud. You don't need to download anything on your computer and get infected. This is a characteristic you should assume when deciding on the right OKX bot.
It does not suggest that they support no mobile app. OKEx furnishes its clients with smart, unique, responsive trading apps consistent with Android and iOS mobile instruments. The app permits users to govern their accounts and crypto portfolios, view real-time charting, buy and trade crypto, and access the client support team. The Android app has been downloaded more than 1 million times. It has an excellent rating of 4.5 out of 5.0 from 222,000 examinations, introducing it as one of the satisfactory apps for crypto trading.
Safety!
OKX will guarantee that it is constantly working the best for its customers. The reasonable announcement is that all of the OKX trading bots we’ve discussed on the current list today are legit and are assuring that you have everything you require to be able to perform your cryptocurrency trades safely. When finding the best OKeX trading bot, try to find an application that does not inquire about your withdrawal information. You are the sole individual that must be able to withdraw assets from your account and no one else.
OKEx is entirely easy, but they request varied verification phases for their customers: you must deliver your ID number, username, an image of yourself, and your identification material, and approve video verification for accessing all the accessible advantages and enhance your limit up to $500,000.
OKEx has assisted over 20 million clients in more than 100 countries worldwide. An entire ecosystem of smart products and services is there to satisfy investors and traders from an extensive spectrum of knowledge degrees, containing spot, margin, futures, options, perpetual swaps trading, DeFi, lending, and mining services. The exchange delivers a gateway to over 360 digital currencies across 826 markets.
OKEX is a safe cryptocurrency exchange that starts numerous safety standards on its platform to safeguard customer information and keep budgets protected in a wallet. OKEX has not been affected by a hack or suffered a crucial safety violation or concession. In 2017, there were announcements of the million prices of Bitcoin being walked from OKEX, which resulted in anxieties of an exchange hacking occurrence. However, CEO Jay Hao clarified that this was FUD and that the transfer of assets was expected based on scheduled supervision.
Any Free OKEX bot?
Yes, there are free OKX bots in the business, and they are open-source instruments that offer you trading potential completely free. However, we must warn that there is presumably an explanation for why they are free, and when you use a trading bot for any platform, you must be cautious.
You must be prudent because the bot links to your assets, and the final thing you expect is the trading platform to take advantage of this. As we already talked about on this list, there are various OKX trading bots we have examined that have a live demo or a free trial, so if you would like to try them out before registering for a subscription, this is feasible.
Free to Start!
This will depend on what you’re attempting to attain when it gets to the realm of cryptocurrency in the initial spot. For instance, if you expect to earn lots of revenue from your cryptocurrency trades to live off, you must capitalize on many budgets in the beginning.
The additional aspect you need to assume is that when it comes to using OKX to perform your trades, they have several trading payments, like a maker fee, a taker fee, and even a withdrawal fee. This is why you need to consider these fees when selecting how much to capitalize in the first place because if you appoint to invest just a little bit, the bulk of your earnings will be taken up by these fees.
OKEX trading fees vary in different facets, but once you register, you understand that the two most distinctive characteristics that make prices different are the kinds of trading and your status with the exchange. Usually, according to the data from the support desk, the OKEx exchange doesn’t oblige a deposit fee, and it puts up with merely one authorization on the Bitcoin blockchain to transmit your budget to the business. The withdrawal fee for Bitcoin (BTC) is 0.0005, for Litecoin (LTC) – 0.001, and Ethereum (ETH) – 0.01.
As evident to you, we have many distinct OKEX trading bots that you can invest in at this point, and we aim to ensure that all of your cryptocurrency trading strategies are optimized for the market.
Each OKEX trading bot proposes various explanations based on what you are attempting to accomplish when it comes to cryptocurrency trades, so we highly advise that you test them out and dig into any live demos that are accessible so that you can dock on the one that is going to outfit what you wish the best. You can also select between downloading your OKX trading bot and utilizing it online.
Summary
OKX was originally known as OKCoin but was rebranded in 2017. Although it was initially restricted primarily to China and a few other Asian regions, it contended with top international digital asset exchanges for the highest spots in day-to-day trading volume. With its recent endeavor toward broadening globally, it will probably become an important antagonist for the top spot internationally due to trading volume. In addition to having an enormous number of crypto coins financed for trading, OKX furthermore supports fiat deposits, though not the usage of credit cards.
An OKEX automated trading bot is a unique software that automates your buy and sell orders according to pre-set algorithms. There is one aspect you should understand about a cryptocurrency bot: OKEX, as well as different exchanges, does not expand and empower them. It’s third-party software. Therefore, there are bots from Bitsgap, CryptoHopper, Shrimpy, 3Commas, WunderTrading, etc. You are welcome to any of them, or actually all. It’s up to you to determine what the best trading bot for OKEX is.
The exchange proposes a broad spectrum of trading pairs and the capacity to trade crypto expending fiat currency. OKEX is recognized for meager trading fees, from 0.03% to 0.15%. The exchange is improving its infrastructure, OKEX team intends to the cryptocurrency derivatives market by proposing futures.
To shorten and conclude this analysis, OKEx is a robust and safe platform for people to trade digital currencies. The wide alternatives of crypto assets with margin, derivatives, futures, and options make it an ideal platform for the severe crypto trader. Innovative monetary products and services, such as gaining interest in crypto and lending to obtain bonuses, will appeal to investors. With a real responsive client service team and world-class safety, OKEx is a distinguished exchange in the blockchain enterprise.
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