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As cryptocurrency markets continue to mature and attract more participants, more and more people are interested in taking a more sophisticated approach to their cryptocurrency trading. Automation plays a big role in virtually all markets, and cryptocurrency is no different – advanced traders use trading bots to execute their trading strategies 24/7 and benefit from trading consistency that’s simply not achievable when trading manually.
However, trading bots can be quite difficult to get into for users that are just getting started with trading or have limited technical knowledge. In this article, we’ll be checking out WunderTrading, a platform designed to take automated cryptocurrency trading as accessible as possible.
WunderTrading review
WunderTrading is an automated cryptocurrency trading platform that allows users to easily connect their accounts from multiple crypto exchanges and manage them in one place. After connecting their exchange accounts, users can set up trading bots that will automatically perform trading strategies according to the user’s preferences. Alternatively, users can also choose to follow other more experienced traders and automatically copy their moves in the market.
Before we take a closer look at WunderTrading, let’s check out some of the platform’s main advantages and disadvantages:
WunderTrading pros:
- 7-day free trial of Pro membership level and pricing flexibility
- Video tutorials that explain features of the platform in a user-friendly manner
- Users can automate TradingView strategies
- Supports 13 major cryptocurrency exchanges
- Unique spread trading feature
- Has a free membership level that provides solid functionality even for non-paying users
WunderTrading Cons:
- Monetization of copy trading is not yet implemented
Crypto trading bots
WunderTrading allows users to take TradingView trading scripts and deploy trading bots that automatically execute the pre-determined strategy on a 24/7 basis.
WunderTrading also provides some TradingView strategies for free that you can try out to get started. Users can backtest the strategies themselves using various parameters to get a better idea of how they perform in different market conditions. If you already have some TradingView trading scripts that you want to try out, you can of course use them to create a bot on WunderTrading as well.
When setting up the bot, there’s multiple customization options available. You can select the exchange and trading pair, the timeframe that the bot will use, and the type of orders that it will submit (market/limit).
If you want the bot to use limit orders, you can set up more detailed parameters, such as the amount of time the bot will keep up its unfilled limit orders, and the prices that the bot will be using to submit its orders. It can use the last price, ask price, or bid price as a reference and then place the order at a specified deviation from this price. For example, you can set up the bot so that it places its limit orders 0.5% away from the ask price.
It’s important for any trader to use take profit and stop loss levels, and WunderTrading of course allows you to set those up when you’re creating your bot strategy.
Some of the customization options available when setting up a trading bot on WunderTrading
WunderTrading also provides helpful video tutorials on its documentation page, with step-by-step tutorials on how to launch trading bots on different cryptocurrency exchanges using the WunderTrading platform.
Copy trading
Copy trading is a WunderTrading feature that might be suitable for those who are not comfortable with making their own trades deploying their own trading bots. On WunderTrading, you can either follow traders or trading bots. The prerequisite is that you have connected an account on the same exchange that’s being used by the trader you’re following, and that the account holds the cryptocurrency that’s being used as the base currency (most commonly USDT).
You can easily filter between different traders by metrics such as their profit factor, average profit/loss, number of followers, and others to find the trader that’s right for you.
WunderTrading’s copy trading dashboard
If you think you have a solid trading strategy, you can also become a trader yourself and allow other users to copy your moves. This currently doesn’t come with any economic benefits, but WunderTrading is working on a system where traders can charge a subscription to the users copying their trades.
Manual trading
While trading bots and copy trading is a big part of what WunderTrading is all about, the platform also offers a handy trading terminal where you can set up trades manually through WunderTrading without having to log into different exchange accounts.
The »Terminal« section allows users to manually set up trades on any exchange account they’ve connected to WunderTrading. After selecting the trading pair and whether you’d like to go long or short on it, you can select how much of your portfolio you’d like to allocate to the trade. Then, you can set up the order type you’d like to use to enter the position and your take-profit and stop-loss levels.
Under the “Positions” tab, users can also find two other features offered by WunderTrading. The first is spread trading, where users can create a spread by choosing two different futures contracts and going long on one of them and short on the other. This feature supports cryptocurrency derivatives platforms like FTX and Binance Futures. Stop losses and take profits are handled automatically by WunderTrading, giving the trader a similar experience to trading a single trading pair.
WunderTrading also features DCA trading. DCA stands for Dollar Cost Averaging, and refers to a strategy where the trader enters their position over time to mitigate the negative impact of price volatility. Traders can customize their DCA strategy through 4 main parameters, which will determine how many orders the DCA strategy will consist of, how large the orders will be and the price deviations at which orders will be triggered.
Supported exchanges
WunderTrading supports a solid selection of exchanges, which includes almost all of the most popular exchanges on the market today (still, there are some notable omissions such as Coinbase). Here’s the 13 exchanges currently supported by the platform:
- Binance
- Kraken
- Bittrex
- FTX
- Bybit
- Binance Futures
- Deribit
- KuCoin
- OKEx
- HitBTC
- FTX-US
- Huobi
- Bitpanda
- BitMEX
This list of supported exchanges should suffice for almost all crypto traders, and covers hundreds of different cryptocurrencies as well as some of the most liquid markets in crypto today.
To connect an account to WunderTrading, users need to first go to their account on the exchange and create an API key and secret. After plugging that information into WunderTrading, they can start trading through the platform.
Pricing
WunderTrading currently offers 4 different plans for users: Free, Basic, Pro and Premium. Users can choose between different subscription lengths of 1 month, 3 months, 6 months and 1 year – the longer the plan, the more cost-efficient it is on a monthly basis. For users that want to get a taste of the paid plans with the smallest commitment possible, the Basic 1-month subscription only costs around $5. However, even WunderTrading’s most high-end option is still quite accessible – a 12-month subscription to the highest Premium tier averages out to around $31 a month. Subscriptions can be paid in either USDT or BTC.
After creating an account, users receive 7 days of a free Pro subscription to get started with the platform. For those that are just getting started, even the free subscription should provide some value – the option to upgrade is always available if you need advanced features like trailing stops, or you want the ability to have more positions, bots and APIs active simultaneously.
WunderTrading Exchange
WunderTrading also have a cryptocurrency exchange of their own, which is designed as a straightforward on and off-ramp for cryptocurrency investors. The WunderTrading exchange is regulated in Estonia, where it has a license for providing virtual currency services.
The exchange allows users to buy crypto with their Visa or Mastercard cards, Skrill or SEPA bank transfers. Currently, the WunderTrading exchange has a relatively limited amount of supported cryptocurrencies, as it supports 8 coins:
- Bitcoin
- Ethereum
- XRP
- Binance Coin
- Litecoin
- Bitcoin Cash
- Stellar
- TRON
However, the solid selection of payment options and the platform’s simplicity means that the WunderTrading exchange can still be a good choice for those that are primarily interested in buying the most popular cryptocurrencies.
The bottom line
WunderTrading have developed a very solid platform for automated crypto trading that offers a lot of flexibility both in terms of supported exchanges and pricing options. The platform offers a free 7-day trial of the Pro subscription tier as well as a free option, making it very easy for new users to get started and get comfortable with the platform before deciding if a paid plan is worth it or not. The ability to run trading bots and follow other traders’ strategies is an attractive proposition for many cryptocurrency investors, so WunderTrading is definitely worth a look.
