Rating
4.1

Introduction

Coinrule empowers traders to compete with professional algorithmic traders and hedge funds. No coding required.


In recent years, cryptocurrency trading and investment have grown massively. However, the investors gradually realized that this venture is not a walk in the park. This is because the process of analyzing the market and watching out for trends can be overwhelming.

To beat this problem, you could always seek the services of automated bots. These are trading platforms designed to help you boost your returns while ensuring you are not stuck in front of the screen the entire day.

There are many crypto bots in the market, which may give you a hard time finding the right program that would be the right fit for you. In this article, we shall review Coinrule, and in the end, you should be better placed to decide whether it is perfect for you.

About Coinrule

This is a crypto bot, an automated trading platform specially designed to suit the needs of those joining the trade. It pays attention to trading rule creation, and this will give you an easy time building your strategies through the intuitive interface. 

Just like any other bot service, Coinrule lets you automate your trading. However, the “if-this-then-that” principle of this platform gives it an advantage over similar services out there.

This service offers you numerous set strategies to choose from. Not just beginners, but even advanced traders could use this bot to build their own strategies.

Who Is Behind the Service?

Coinrule is a limited liability company founded in December 2017 and was incorporated under the UK and Wales laws. Many cryptocurrency platforms choose to settle in the tax haven countries, but with Coinrule, the main offices are in London.

The service is run by a team of highly educated and experienced advisors who ensure nothing goes wrong with the program. Further, transparency in leadership is another thing that sets this service apart from other competing platforms.

Key Features

In this section, we shall look at the key components of this service that you can take advantage of to be a top crypto trader.

1. User Interface

One standout feature of this service is the friendly UI, and this is one of the areas it has a competitive edge over other platforms. Even better is that you can access it from most of the standard browsers out there.

Its unique official logo has become one of the most popular ones in the financial world. Then, the homepage is not flooded with unnecessary content such as ads and constant pop-ups. This makes it relatively easy to navigate. 

The other thing we liked is the simple language used in the platform. The lack of complicated jargon makes everything easy to understand. There is also the use of simple if-this-then-that parameters that are straightforward to anyone despite the skill level.

We also liked the set strategies such as Buy the Dip, Divide and Conquer, Surf the Moonshot and Maximize Profits that pose minimum complications. As for the experienced traders, they can easily set their strategies.

Lastly, advanced technical analysis tools are easily accessible.

2. Supported Exchanges

The next thing we shall look at is the list of exchanges that Coinrule supports. It contains some of the top crypto exchange platforms, which gives us a very impressive list.

Some of the names here include:

  • Bitfinex
  • BitMex
  • Binance
  • Binance US
  • Bitmap
  • Bittrex
  • HitBC
  • Poloniex
  • Coinbase Pro
  • Liquid
  • Kraken

This list features some of the most recognized exchanges, and the service connects with them via their automatic programming interface (API).

3. Security

We liked how thorough this company is in protecting their user’s data. Let’s start with the API keys, which are encrypted with advanced security protocols. Then, the users; private keys are stored on an encrypted segregated data storage.

Another aspect of the API keys is that they are designed to forbid withdrawal rights from your exchange account. This will protect your funds in case of hacking or any other security breach.

4. Trading Strategies

This service provides you with templates that offer you strategies common in the trading bot sector. They include price-based accumulation, stop loss, rebalancing, buy the dip, among others. 

In addition to these templates, the team sends out daily emails with free trading signals to help you adjust your strategies and to create new rules.

At the moment, backtesting on the service may be impossible, but you could make use of their built-in Demo exchange. Here, you can test your rules via a virtual allocation in real-time and see how that strategy would have performed in the market.

For credibility, the Demo exchange uses prices from Binance, which makes the reported performances more reliable.

Pricing

There are four pricing tiers for you to choose from. The Starter plan is free, but it only allows you to trade $3,000 per month. Further, you will also get a limited number of indicators around which you will build your rules.

Next up is the Hobbyist tier, which costs $29.99 per month, and you can trade up to $50,000 per month. As a step up from the previous plan, you can access more technical indicators, and you can add two exchanges to your account,

The next tier is the Trader plan, which costs $59.99 per month and allows you to trade up to $300,000 per month. Besides allowing you to connect three exchanges, access all the template strategies, and create up to 15 rules, you will also get monthly one-on-one training sessions and priority support.

The final plan is the Pro plan, and as you would expect, it is the priciest one at $449.99 per month. Here, there is no limitation in the number of exchanges you can connect to, plus there is a specific server for your trade execution.

However, you can only create 50 rules at a go.

Who is this Service Best For?

If you are a day and swing cryptocurrency trader who is joining the world of automated trading, Coinrule would be perfect for you. It has a user-friendly interface, while it has no complicated trading jargon to confuse you.

The advanced traders could also find the platform useful, but they would be troubled by the lack of complex technical indicators and the ability to create your own indicators.

Pros and Cons

As we conclude, we shall summarize the advantages and downsides of this service. Here they are.

Pros

  • Compatible with the most popular exchanges
  • Has the friendliest user interface
  • There is a free version which newbies can try out
  • Offers more than 130 strategies templates

Cons

  • No backtesting of the strategies
  • Provides limited information on the templates’ performance

Closing Thoughts

If you are new to the world of automated trading, Coinrule is the perfect platform to get you started quickly. It has a user-friendly interface, making it easy to gauge your strategy’s performance and understand what the bot is doing.

Not just beginners but even the advanced traders could find the program useful due to its flexibility.

So, we advise you to try out the service, and we believe that your venture in trading cryptocurrencies will have a significant difference.