ProfitTrailer claims to be a powerful and advanced automated crypto trading system that allows you to automate your trading operations. According to the developer, it is the number one trading bot available on the market today. In this review, we are going to conduct an in-depth analysis of this system to find out whether it is reliable or not.
What is ProfitTrailer?
It is a crypto bot with over 40 in-built indicators. It is supported by a dedicated community where you can discuss trading plans. With this system, you don’t need to spend time monitoring charts and keeping track of market updates, since the bot does all the repetitive tasks for you.
Features of the ProfitTrailer platform
The key features of the system are as follows:
- User-friendly interface
The bot’s dashboard is quite intuitive. Here, you get a detailed overview of your bot’s performance. This allows you to make more informed decisions.
This system supports the Dollar-cost averaging technique. Here, thetrader divides up the total capital for periodically purchasing an asset. This way, it manages to reduce the impact of volatility.
- Advanced configurations
This bot lets you switch between basic and advanced editors. As such, you have a greater degree of control over your trading operations.
- Potential trades
The dashboard shows the potential orders you can execute. You can adjust the configuration to decide what kind of trades are displayed.
How does the ProfitTrailer bot operate?
This is a bot that connects to your exchange account using API keys. It has the ability to place buy and sell trades while using multiple indicators and strategies simultaneously. There are four main types of indicators used by this system, namely Volume, Volatility, Momentum, and Trend. The three main configurations in the GUI dealing with buying and selling strategies include Indicators, Pairs, and DCA.
Follow these steps to get started with the bot:
- Step 1: account creation
Visit the official website and head to the My Account section. Here, you can register with your email address. The password will be sent to your email and you can use it for logging in.
- Step 2: select a plan
Browse the subscription plans available on the website. You select one of the free plans to try the features of the system risk-free.
- Step 3: installation
You can install the robot on Windows, MacOS, Linux, and Raspberry Pi. On windows, you need to install Java 8 and download the program from the link shared on the website. Extract the files from the zip folder and open the command-line file to launch the bot.
Is it easy to use ProfitTrailer?
While this system lets you perform advanced configurations, it is based on a command-line interface. As such, beginners might find this platform a bit difficult to use.
ProfitTrailer fees, commissions, limits, and payment options
There are three paid plans called Signals Edition, Basic, and Advanced, carrying high monthly charges of €30, €49, and €69, respectively.
This bot does not have withdrawal permissions.
How much should you deposit to start trading with ProfitTrailer?
There is no minimum deposit requirement for this platform.
Partnered exchanges and brokers
Supported exchanges include Poloniex, Bittrex, Binance US, Coinbase PRO, Binance DEX, Huobi, BitMEX, Binance, Binance Futures, Bybit, Bybit Futures, Kucoin, Kucoin Futures, FTX, and FTX Futures.
Is it beginner-friendly?
No, it is not a beginner-friendly platform due to the advanced functionalities and the command-line interface.
Is it a profitable system?
The profitability depends mainly on the chosen configuration, strategy, and market sentiment.
Security & regulation
This bot securely connects to exchanges using API keys while also using an SSL certificate for added security. It does not have 2-factor authentication or multi-sig.
Based in Curacao, the company was launched on September 8, 2017. We don’t have any information on the team members.
At this moment, there are no user reviews for this system on trusted third-party websites. This tells us that not many people are currently using this system for trading digital assets.
Should you trade with ProfitTrailer?
ProfitTrailer is suitable for technical users who are familiar with the command-line interface. The parent company does not have much of a reputation and the plans are quite expensive.