Are you tired of manually trading cryptocurrencies and looking for a solution that can help you automate your trading strategy? Look no further than TradeSanta, a trading bot that claims to help you maximize your profits and minimize your losses. But is TradeSanta legit or just another scam?
In this TradeSanta review 2023, we’ll take a closer look at its features, pricing, customer support, and security to help you decide whether it’s worth your time and money.
Quick Verdict: TradeSanta TradeSanta is a legitimate trading bot with multiple pre-built strategies, Marketplace, Portfolio rebalancing, 9 Exchange integration, and Telegram notifications.
| Key Points | Description |
|---|---|
| Platform Type | Cryptocurrency trading bot platform |
| Review and Rating | 4.4/5 based on Trustpilot Reviews |
| Features | Automated trading, 24/7 trading, multiple trading strategies, stop-loss and take-profit orders, backtesting, paper trading, customizable settings |
| Supported Exchanges | Binance, Binance US, Binance Futures, Kraken, Bittrex, HitBTC, Huobi, OKEx, Coinbase, and Bybit |
| Trading Strategies | Short and Long algorithms, Bollinger Bands, RSI, MACD, Ichimoku, GRIDM DCA,, Futures, and more |
| User Interface | Web-based platform with a user-friendly interface |
| Pricing | Free plan with limited features, paid plans starting from $18 per month |
| Security | Two-factor authentication (2FA), API key encryption, SSL encryption, no withdrawal permissions |
| Customer Support | Email support, knowledge base, community forum |
| Additional Features | Mobile app for iOS and Android, referral program, Portfolio Management |
What is TradeSanta?
TradeSanta is a cloud-based, automated cryptocurrency trading platform that allows traders to automate their trading strategies and execute trades across multiple cryptocurrency exchanges.
Launched in 2018, Traders can set up various parameters, such as entry and exit points, stop-loss and take-profit levels, and trading volume, to execute trades automatically without having to monitor the market constantly.
It allows users to backtest their trading strategies using historical data to assess their effectiveness before deploying them in live trading.
TradeSanta also offers pre-configured trading bots with different strategies, such as Grid, Martingale, and Simple strategies, which traders can choose from or customize to suit their individual trading preferences.
Key Features
TradeSanta offers several features that can help simplify your trading experience:
- Customizable trading templates: Users can create their own trading templates based on their strategies and backtest them using historical data. This feature can help optimize their trading performance and minimize the risks of losses.
- Multiple exchanges: TradeSanta supports several major cryptocurrency exchanges, including Binance, Bybit, and Huobi Global. Users can connect their accounts to the bot and start trading within minutes.
- Trading indicators: The bot offers a wide range of trading indicators, including the Moving Average, Relative Strength Index (RSI), and Bollinger Bands, to help users identify profitable trading opportunities.
- Automatic trading: Once users have created their trading templates, the bot can execute trades automatically based on the indicators and conditions set by the user.
- Stop-loss orders: TradeSanta offers stop-loss orders to help users minimize their losses in case of adverse market movements.
Related: Best Crypto Trading Bots
Pros and Cons
| Pros 👍 | Cons 👎 |
|---|---|
| Easy-to-use platform | Limited number of exchanges supported |
| Automated trading strategies | Automated trading may cause losses |
| Customizable trading bots | Reliance on API keys for trading |
| 24/7 trading without emotions | Subscription fees for advanced features |
| Backtesting and paper trading | |
| Wide range of indicators and signals | |
| Access to multiple cryptocurrencies |
TradeSanta Products and Services Reviewed
Smart Trading Terminal
TradeSanta’s smart trading terminal allows users to automate their cryptocurrency trading strategies. It offers a range of features including automated trading bots, multiple exchanges support, customizable trading strategies, and a user-friendly interface.
The platform also offers a range of risk management features, such as stop-loss and take-profit orders, which can help traders manage their risks effectively. Additionally, TradeSanta provides real-time market data, price alerts, and backtesting tools, allowing users to make informed trading decisions.
Futures Bot
TradeSanta’s Futures Bot is a trading automation tool designed for futures markets. It utilizes algorithms and strategies to automatically execute trades on popular futures exchanges, such as Binance Futures and Bybit .
Traders can trade with leverage of up to X200 using the Futures bot. The bot is equipped with various features, including customizable trading signals, risk management settings, and technical indicators. Traders can set their preferred parameters, such as entry and exit points, leverage, and position size, to tailor the bot’s trading strategy according to their trading style and risk tolerance.
DCA Bot
The DCA (Dollar-Cost Averaging) Bot automatically buys a predetermined amount of a specific cryptocurrency at regular intervals, regardless of the current market price.
This strategy is often used to mitigate the impact of market volatility and reduce the risk of making poor investment decisions based on short-term market fluctuations.
Users can also specify the duration for which they want the DCA Bot to run. The bot operates automatically based on the predetermined settings, making regular purchases of the specified cryptocurrency at set intervals. By spreading out purchases over time, the DCA Bot helps traders potentially lower the average cost of their investments.
GRID bot
The grid strategy involves placing buy and sell orders at regular intervals, forming a grid of orders above and below the current market price. The GRID Bot is designed to take advantage of price fluctuations in a range-bound market, where the price of a cryptocurrency tends to move within a certain price range over time.
With TradeSanta’s GRID Bot, traders can set up their own parameters, such as the price range, number of grid levels, and position size.
Related: 8 Best Crypto GRID Trading Bots
Technical Indicators Strategy
With TradeSanta’s Technical Indicators Strategy, traders can choose from a variety of popular technical indicators, such as moving averages, RSI (Relative Strength Index), MACD (Moving Average Convergence Divergence), Bollinger Bands, and more.
Traders can set their preferred parameters for these indicators, such as the period length, type of moving average, and overbought/oversold levels for RSI, to customize the strategy according to their trading style and market conditions.
For example, if the strategy is set to use a crossover of a short-term moving average above a long-term moving average as a buy signal, the bot will automatically place a buy order when this condition is met in the market data. Similarly, if the strategy is set to use an RSI crossing below an oversold level as a sell signal, the bot will automatically place a sell order when this condition is met.
Trading View Integration
To use TradeSanta’s Signals feature with TradingView, traders need to have a TradingView account that provides access to its alerts feature. Traders can then create alerts on TradingView based on their preferred technical analysis or trading strategies, and configure those alerts to be sent to their TradeSanta account.
TradeSanta’s Signals feature provides a convenient way for traders to integrate signals generated by TradingView or other third-party providers into their automated trading strategies on the platform.
TradeSanta’s Copy Trading
Copy trading allows users to automatically replicate the trades of experienced traders, known as “signal providers,” in their own trading accounts. The idea is to leverage the expertise and strategies of successful traders to potentially generate profits for followers who may not have the time or expertise to actively trade on their own.
With TradeSanta’s Copy Trading, users can choose from a list of signal providers who have a proven track record of profitable trading. Users can view the performance history, risk profile, and other relevant details of each signal provider before deciding whom to follow. Once a signal provider is selected, their trades are automatically copied into the follower’s trading account in real-time.
Users have the option to adjust their risk settings and set their own parameters, such as trade size and stop-loss levels, to suit their own risk tolerance and trading goals.
Related: 10 Best Free Crypto Trading Bots
TradSanta Supported Exchange
TradeSanta currently supports 9 cryptocurrency Exchanges including-
- Binance
- OKX
- Coinbase Pro
- Huobi Global
- HitBTC
- Binance US
- Bybit
- Kraken
How to Calculate Trading Bots Profits?
Here’s a general formula to calculate potential profits for a simple example of a basic TradeSanta grid trading strategy:
- Calculate the grid spacing (the price difference between each grid level).
- Determine the number of grid levels you want to set up.
- Calculate the total amount of capital you want to use for trading.
- Distribute the capital evenly across the grid levels, allocating a fixed amount of capital to each grid level.
- Calculate the potential profit for each grid level by considering the price movement from the current price to the upper or lower price of each grid level, depending on whether you’re placing buy or sell orders.
- Sum up the potential profits from all the grid levels to get the total potential profit.
Keep in mind that this is a simplified example, and there may be additional factors to consider, such as trading fees, slippage, and market conditions that can affect the actual profits.
TradeSanta Portfolio Management
With TradeSanta’s portfolio manager, you can effortlessly monitor, manage, and auto-balance your crypto assets in one place. Say goodbye to the hassle of manual portfolio tracking and take advantage of TradeSanta’s sophisticated alerts for portfolio P&L, stop-losses, and take profits.
But that’s not all – TradeSanta goes above and beyond with its automated portfolio rebalancing feature. This powerful tool automatically adjusts your portfolio allocations to maintain your desired investment strategy, ensuring that your portfolio remains optimized for maximum returns.
Whether you have different strategies for long-term holdings, short-term trades, or specific coins, TradeSanta has you covered.
TradeSanta Pricing Plans
- Free: Includes 1 bot, trading terminal, and basic features at no cost.
- Basic: Includes up to 49 bots, an unlimited number of pairs, all strategies, Telegram notifications, and a trading terminal at $25 per month (or $13 per month with a discount).
- Advanced: Includes up to 99 bots, an unlimited number of pairs, all strategies, Telegram notifications, trailing take profit, TradingView Screener signals, and trading terminal at $45 per month (or $23 per month with a discount).
- Maximum: Includes unlimited number of bots, unlimited number of pairs, all strategies, Telegram notifications, trailing take profit, TradingView Screener signals, custom TradingView signals, futures bots, and trading terminal at $70 per month (or $35 per month with a discount).
Alternatives and Comparison
| Feature | TradeSanta | 3commas | Cryptohopper | Pionex |
|---|---|---|---|---|
| Supported Exchanges | 9 | 16 | 20+ | Built-in |
| Supported Strategies | Long, Short, DCA, Grid, QFL, DEMA, Bollinger Bands, RSI, and more | Smart Trade, Composite Bot, Options Bot, Futures Bot, Grid Bot, DCA Bot, TWAP Bot, and more | Short, Long, Composite, Margin, Arbitrage, Paper Trading, and more | Grid Trading, DCA, Spot-Futures Arbitrage, Leveraged Grid Trading, and more |
| Pricing Plans | $18 | $15 | $16 | Free to use, 0.05% fees per trade |
| Review | 3commas Review | Cryptohopper Review | Pionex Review |
TradeSanta Security Review
TradeSanta claims to take security seriously and offers several security features to its users:
- Two-factor authentication (2FA): Users can enable 2FA to secure their accounts from unauthorized access.
- API key encryption: The bot encrypts the API keys provided by users to connect their accounts, ensuring that they are not accessible by third parties.
- Secure servers: The bot’s servers are hosted on Amazon Web Services (AWS) and are regularly updated with the latest security patches.
TradeSanta Customer Support Review
TradeSanta offers responsive and helpful customer support through several channels, including email, live chat, and a comprehensive FAQ section.
Users can submit a support ticket through the website or reach out directly through the live chat feature. The support team typically responds within a few hours, and they are knowledgeable and helpful in addressing user queries and concerns.
How to Connect TradeSanta with Crypto Exchanges?
- Sign up for a free account on TradeSanta website.
- Connect to your desired cryptocurrency exchange from the TradeSanta dashboard.
- Create API keys on the exchange platform with trading permissions enabled.
- Enter API keys in TradeSanta’s “Connect Exchange” section.
- Choose trading strategies from TradeSanta’s preset options.
- Customize parameters like trading pairs, order size, and stop-loss/take-profit levels.
- Click “Start” to activate your trading bot.
- Remember to understand the risks involved in cryptocurrency trading and start with small amounts while monitoring your bot’s performance closely.
Final Thoughts: Is it Worth Investing
TradeSanta appears to be a legitimate trading bot that offers several features to help simplify the trading process for its users. However, as with any trading platform, there is always a risk involved, and users should do their own research and exercise caution before investing.
The bot offers a range of pricing plans that cater to both novice and experienced traders, and its customer support channels are responsive and helpful. The security features offered by the bot also appear to be robust, but users should still exercise caution and not keep all their funds in one place.
FAQs
Is TradSanta Safe to use?
TradeSanta appears to be a safe and secure trading bot. The platform offers several security features, including two-factor authentication, server hosting on Amazon Web Services (AWS), and cold storage for user funds. However, no system can be 100% foolproof, and users should exercise caution and not keep all their funds in one place.
Is TradeSanta free?
TradeSanta offers both free and paid subscription plans. The free plan includes basic trading features and supports one trading bot, while the paid plans offer additional features and benefits, such as more trading pairs and advanced order types.
Can I use TradeSanta on my mobile device?
Yes, TradeSanta offers a mobile app that is available for both iOS and Android devices. The app allows users to monitor their trades and make adjustments to their trading strategy on the go, making it a convenient option for those who prefer to trade on their mobile devices.
