Best 10 trading platforms for bot trading in 2024
Explore the top 10 trading platforms that are highly suitable for bot trading. We provide an overview of the pros and cons of each trading platform and explain how to automate trading.
What will you learn about trading platforms in this blog?
What are trading platforms?
How do I choose the right trading platform?
What is the best crypto exchange?
Binance
Coinbase
Bitvavo
Crypto.com
KuCoin
Kraken
Bybit
OKX
Binance US
One Trading
What are trading bots?
How do I automatically buy cryptocurrencies?
How do I automatically sell cryptocurrencies?
What should I consider when choosing a trading bot?
What are the advantages of trading bots?
What are the disadvantages of trading bots?
How do I start bot trading on a trading platform?
What is the best automatic trading bot for cryptocurrency exchanges?
What are trading platforms?
There are many different types of trading platforms for forex, commodities, and currencies. Examples of trading platforms include crypto exchanges where you can buy and sell various cryptocurrencies like Bitcoin and Ethereum at current market prices.
The price you pay for a cryptocurrency depends on the supply and demand for the specific currency you're interested in.
The difference between the purchase price and the selling price is the profit you make. Most traders trade with USD, a stablecoin with a value comparable to USD, or a currency like Euro or GBP.
You can only buy cryptocurrencies after depositing money into the chosen crypto exchange. Below, we will provide an overview of the various trading platforms you can use.
How do I choose the right trading platform?
It is essential to know what to consider when choosing a trading platform. Here is an overview of crucial factors:
Regulation: Does the crypto exchange comply with local regulations?
Available cryptocurrencies: Does the trading platform offer the cryptocurrencies you want to trade? The number of cryptocurrencies you can trade on a crypto exchange varies.
Trading fees: What are the transaction costs for each trade?
Liquidity: Is there enough trading volume to ensure you always get the best price? Read more about what liquidity entails.
Support: Is the website and customer service available in your language?
What is the best crypto exchange?
We have compiled a list of the best crypto exchanges for trading cryptocurrencies. These trading platforms are suitable for automating trading, also known as bot trading or automated trading.
Binance
Binance is the most well-known and largest crypto exchange globally, offering its services almost everywhere.
Trading fees: Starting at 0.1% for Maker and Taker fee.
Number of trading pairs: 1152
Click here for available jurisdictions.
Additional services: Spot trading, Marging trading, P2P, Futures trading, Options trading, Staking services (highest APR 184.5%), and more.
Read more about how to easily start bot trading on Binance.
Coinbase
Coinbase is known for complying with regulations in many different countries and is one of the most reliable platforms to trade on.
Trading fees: Starting at 0.8% Taker and 0.6% Maker fee.
Number of trading pairs: 634
Click here for available jurisdictions.
Additional services: Spot trading, Borrow services, Staking services (highest APR 10%), and more.
Read more about how to easily start bot trading on Coinbase.
Bitvavo
Bitvavo is a Dutch crypto exchange with a significant presence in Europe. The trading platform is available in many European languages and is known for its user-friendly experience.
Trading fees: Starting at 0.25 Taker and 0.15 Maker fee.
Number of trading pairs: 204
Click here for available jurisdictions
Additional services: Spot trading, Staking services (highest APR 15%), and more.
Read more about how to easily start bot trading on Bitvavo.
Crypto.com
Crypto.com has over 80 million users and is an established crypto exchange with substantial liquidity.
Trading fees: Starting at 0.075 for Maker and Taker fee.
Number of trading pairs: 503
Click here for available jurisdictions.
Additional services: Spot trading, Futures trading, Lending services, Staking services (highest APR 7%), and more.
Read more about how to easily start bot trading on Crypto.com.
KuCoin
One in four cryptocurrency traders has a KuCoin account. This exchange is available in almost all countries.
Trading fees: Starting at 0.1% for Maker and Taker fee.
Number of trading pairs: 1231
Click here for available jurisdictions.
Additional services: Spot trading, Margin trading, Futures trading, Staking services (highest APR 63.47%), and more.
Read more about how to easily start bot trading on KuCoin.
Kraken
Kraken is one of the oldest crypto exchanges, known for low deposit and withdrawal fees. An ideal trading platform to get acquainted with trading cryptocurrencies.
Trading fees: Starting at 0.16% for Maker and 0.26 for Taker fee.
Number of trading pairs: 666
Click here for available jurisdictions.
Additional services: Spot trading, Futures trading, Margin trading, NFT, and more.
Read more about how to easily start bot trading on Kraken.
Bybit
Trade as fast as Max Verstappen in Formula 1 on Bybit. Bybit has recently experienced rapid growth and is known for its fast trade matching engine.
Trading fees: Starting at 0.1% for Maker and Taker fee.
Number of trading pairs: 451
Click here for available jurisdictions.
Additional services: Spot trading, Margin trading, Staking services (highest APR 588.51%) , Futures trading, and more.
Read more about how to easily start bot trading on Bybit.
OKX
OKX, previously known as OKEx, has a significant presence in Asia and South America and is known for a comfortable-looking user interface.
Trading fees: Starting at 0.08% for Maker and 0.1% for Taker fee.
Number of trading pairs: 1221
Click here for available jurisdictions.
Additional services: Spot trading, Margin trading, Futures trading, Staking services (highest APR 10.8%), and more.
Read more about how to easily start bot trading on OKX.
Binance US
Binance US has the best API for automated bot trading for users in North America.
Trading fees: Starting at 0.4% for Maker and 0.6% for Taker fee.
Number of trading pairs: 181
Click here for available jurisdictions.
Additional services: Spot trading and Staking services (highest APR 15.9%).
Read more about how to easily start bot trading on Binance US.
One Trading
One Trading, previously known as Bitpanda Pro, focuses on offering licensed trading services for institutional traders in Europe in different languages.
Trading fees: Starting at 0.25% for Maker and Taker fee.
Number of trading pairs: 31
Click here for available jurisdictions.
Additional services: Spot trading.
Read more about how to easily start bot trading on One Trading.
What are trading bots?
Trading bots are programs that allow you to automate cryptocurrency trading in a user-friendly interface without the need for programming knowledge. As a trader, you can decide when the trading bot should buy or sell a currency.
How do I automatically buy cryptocurrencies?
There are different ways to place automatic buy orders, depending on how you want to trade. For example:
Manual: Manually place buy orders that are sold according to automatic selling settings.
Signals: Subscribe to trading signals from professional traders and decide when to sell positions.
Strategy Designer: Create your own trading strategies that buy (or sell) when certain technical indicators or candle patterns give a buy signal. Technical indicators may sound complicated, but if you understand how different types of technical indicators work, you only need to provide parameters.
AI Strategy Designer: Create an AI strategy that evaluates different trading strategies and chooses the best strategy for each trading pair in bull and bear markets.
radingView Alerts: Use TradingView Alerts to open positions.
Copy Bots: Subscribe to Copy Bots to fully copy a professional trader with hands-off trading.
How do I automatically sell cryptocurrencies?
There are also different ways to place automatic sell orders for cryptocurrencies, considering risk management to prevent losses and maximize profits. For example:
Take profit: Set a take profit to sell a position when this profit percentage is reached.
Trailing stop-loss: Determine from which profit percentage the trading bot should keep an eye on a position, taking the price up but selling when the price drops by your set percentage with Trailing stop-loss. Ideal for maximizing profits.
Dollar Cost Averaging: Buy more of a losing position so that the entire position can be sold with profit more quickly. Use DCA only for currencies you believe will inevitably rise in price.
Stop-loss: Limit losses by automatically selling when your set Stop-loss percentage is reached.
Sell based on strategy: Automatically sell positions when your strategy gives a sell signal.
TradingView Alerts: Sell automatically when your TradingView strategy gives a sell signal.
What should I consider when choosing a trading bot?
There are many different things to consider when choosing a bot trading platform. We have listed a few points:
Does the platform offer the possibility to trade with simulated money (also called Paper Trading)?
Does the platform offer a config backtester?
Does the platform offer support?
Does the platform provide security measures to protect your account?
What are the platform's costs?
What are the advantages of trading bots?
Automatic trading bots have many different advantages:
Trading bots can buy and sell when the market is very volatile, while you sleep, work, or do other important things when your trading strategy should be executed.
You don't have to stare at price charts all day.
You can automatically turn trading bots on or off at significant events in the crypto market with Triggers.
You still have the option to sell positions manually.
You can trade on more markets simultaneously and diversify your portfolio.
You can monitor buy and sell settings and positions anywhere with an iOS or Android app.
What are the disadvantages of trading bots?
Basic knowledge of how to use cryptocurrency exchanges is required.
It takes some time to fully understand a trading bot.
To help you get started more quickly, trading platforms often provide documentation, YouTube videos, or a Trading Academy.
Monthly fees are often charged for the use of trading bots.
Like regular trading, there is also a risk of loss.
How do I start bot trading on a trading platform?
Create an exchange account and deposit funds to trade.
Connect your exchange account to the trading platform.
Configure the bot settings.
What is the best automatic trading bot for cryptocurrency exchanges?
Cryptohopper is one of the oldest automatic bot trading platforms in the crypto market and has consistently evolved. It was one of the first platforms where you could subscribe to trading signals from professional traders and has generated tens of billions in trading volume.
With over 750,000 created accounts, it is one of the most well-known and reliable platforms, offering access to more than 18 exchanges for automated trading. You can even connect all your exchange accounts for free, making it easy to manage your entire crypto portfolio across different cryptocurrency exchanges in one place.
Enjoy real-time updates on your positions, charts, and order books and start trading today!
Will I get rich immediately from automated trading?
The achieved results always depend on the bot settings in the market. Be extra cautious with platforms that guarantee profits. Past performance does not guarantee future results.
