TradeSanta review 2024
TradeSanta review Summary
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TradeSanta’s cloud-based software was built and designed specifically to automate cryptocurrency trading and make its users’ lives simpler. It’s quick and easy to link the robot to your online brokerage account and set parameters for it to trade on your behalf. This review takes you through everything you need to know.
What can I do with TradeSanta?
TradeSanta’s cryptocurrency trading robot enables you to take advantage of market fluctuations 24/7. It takes as little as 2 minutes to set up a bot which will then place trades across thousands of different crypto pairs.
You can use pre-set templates or build your own customised strategy from scratch and tailor the robot to your needs. Additionally, TradeStana allows you to set up real-time tracking and notifications on specific coins, pursue long or short strategies, and set take-profit targets.
Pros & Cons
Pros:
Cons:
Can I open an account with TradeSanta?
TradeSanta markets, assets, and options
What assets and products can you trade using TradeSanta?
TradeSanta is specifically built for cryptocurrencies and offers access to over 200 coins, which you can trade using thousands of unique currency pairs. Given the robot’s focus on crypto, there are no other tradable assets such as forex, indices, or stocks.
The robot supports all the top coins such as BTC, XRP, ETH, along with altcoins such as BNB, ADA, ATOM, DASH, EOS. Here’s a summary of the number of coins and crypto pairs available on TradeSanta.
| Product | Offering |
|---|---|
| Cryptocurrencies | 200 |
| Cryptocurrency Pairs | 5,700 |
What leverage trading options are there?
Since TradeSanta is a trading bot, there is no leveraged trading option available. If you link the robot to a broker which allows trading with leverage, you could use TradeSanta’s robot to place trades in this way. However, as trading with leverage is risky we do not recommend it for beginners.
What are the spreads?
Trading spreads will be applied by your broker, not by TradeSanta’s robot. In trading, the ‘spread’ refers to the difference between the bid (buy) and ask (sell) price for an asset and it’s typically the way brokers apply commissions on trades. Check the spreads charged by a broker before linking the robot to it.
Fees, limits, and payment options on TradeSanta
How much does TradeSanta cost?
TradeSanta allows users to choose from three different types of accounts, depending on how many bots they wish to use for their trading. Packs start at just $14 per month for a Basic account and can reach as much as $30 per month for the Maximum option on an annual subscription.
Users can also try out the service absolutely free of charge with a 3 day free trial of the Basic package before deciding whether they want to sign up for an account. Here’s a quick summary of each account type and how much it costs.
| Account type | What’s included | Cost |
|---|---|---|
| Basics | – Up to 49 bots – Unlimited trading volume – Unlimited number of pairs – All strategies – Telegram notifications – General support | $14 per month |
| Advanced | – Up to 99 bots – Trailing take profit – Unlimited trading volume – Unlimited number of pairs – All strategies – Telegram notifications – New statistics | $20 per month |
| Maximum | – Unlimited number of bots – Trailing take profit – Unlimited trading volume – Unlimited number of pairs – All strategies – Telegram notifications – Access to all support and statistics | $30 per month |
What are the payment methods accepted by TradeSanta?
TradeSanta only accepts payment in cryptocurrency. If you wish to purchase any of the packages after the 3 day free trial, you can pay using:
Does TradeSanta also charge fees and commissions?
No, there are no additional fees or commissions charged by TradeSanta for trading, apart from a standard monthly fee for the three available plans that it currently offers.
TradeSanta trade sizes and limits
Depending on the monthly plan you opt for, Tradesanta allows you to use up to 49, 99, or an unlimited number of robots covering as many trading pairs as you want. There are no individual trade size or other limits imposed, apart from those set by your cryptocurrency exchange or crypto broker.
TradeSanta’s platform
How does TradeSanta work?
TradeSanta’s robot works by constantly scanning the cryptocurrency markets and placing trades in line with the parameters you set. Once your trading bot is set up and ready to conduct trades, it will open a trade immediately or after the conditions on which you want to trade are met (for instance if Bitcoin falls to a certain price).
For the first order, the crypto bot buys the amount of base currency indicated by you in the settings. When the initial order is executed and the deal is open, the automated trading bot places the take profit order along with several extra orders. Extra orders serve to take advantage of the changing price and adapt the trading strategy according to current market conditions.
What devices can I use TradeSanta on?
TradeSanta works mainly as a web-based platform, but also comes with an integrated app that clients can download for free from the App Store (for iPads & iPhones) or the Google Play store (for all Android-based smartphones and tablets). You can use TradeSanta on:
- Web browser
- Tablet
- Android Mobile Devices
- iOS Mobile Devices
What exchanges and brokers does TradeSanta partner with?
Currently, TradeSanta works with HitBTC, Binance, Bitfinex, Bittrex, UPbit, Huobi, and Okex. It promises to soon allow exchanges from BitMEX as well. On the TradeSanta website, you can see a detailed comparison table between all these different exchanges so you can pick the right one for you, based on your knowledge about trading, trading volume, supported crypto coins, and your available funds.
Can I use TradeSanta in my country?
TradeSanta is available worldwide for customers who can open an account with any of the partner exchanges listed above.
Is TradeSanta available in my language?
Currently, TradeSanta is available in English, Korean, Portuguese, Turkish, Japanese, Spanish,
and Russian.
How easy is it to use TradeSanta?
The TradeSanta platform has a user-friendly interface and all the steps you must take to set up your bot are detailed to make the process fast and smooth. When setting up a robot to place trades on a specific pair, it’s easy to set parameters for when the robot should make trades, and to change the settings to mitigate risk depending on your trading strategy.
The customer support team is available 24/7 to answer all your questions about the different account packages, how to set up a bot, how to choose the right trading strategy, and get the most out of your experience.
Key features
With over 95,000 satisfied active users across the globe, TradeSanta is one of the most popular crypto trading bots on the market today, here are some of the features that help it stand out.
Bot templates
With the pre-set templates you can launch a new bot in just a couple of minutes. You can also create a completely customised robot to meet the requirements of your trading strategies and choose from hundreds of parameters to tailor it to your needs.
Technical indicators
You can choose to set the bot to use day, bollinger, or volume filters to open trades at the right time and make sure you don’t miss out on any market opportunity, no matter where you are.
Real-time tracking
You can track the bot’s progress from your web browser or mobile device and receive transparent analytics and Telegram notifications for all your open positions.
Security and regulation
Is TradeSanta legit?
TradeSanta is a legitimate cloud-based software that can automate your cryptocurrency trading and enable you to spend less time staring at a computer screen. To give you the best chance of achieving success, you should spend time programming each robot to make sure it automates trades in exactly the way you want.
Is TradeSanta safe?
The platform is safe, but you should exercise caution when setting up any auautomated trading service. TradeSanta follows industry practices and adheres to the rules set forth in the General Data Protection Regulation (GDPR), OPPA, CAN-SPAM, and COPPA. This means you have control over your data and your trading activities and can tailor each robot to your trading strategy.
Am I and my money protected?
TradeSanta’s crypto bots don’t store any money, it is simply a service you can use by paying a monthly account fee. All trades are conducted on any of the software’s supported exchanges and it is the exchange where your money is deposited and traded. The level of protection on your funds will thus depend on the exchange or broker you use.
Is TradeSanta regulated?
No, TradeSanta is not registered as a financial institution or broker/dealer. It is simply a paid service, which means it doesn’t have to be regulated to be operational.
Do I have to verify my account with TradeSanta?
To sign up for an account with TradeSanta, all you have to do is provide some basic information like a username, email address, and password. Since Tradesanta doesn’t operate as a financial entity where you deposit your money, you will not have to disclose any additional information in order to open an account.
Extra information
Educational resources
TradeSanta offers a wide array of educational resources, including a blog with useful articles, video tutorials, documentation, bot templates, and a grid bot tutorial to understand everything there is about automated trading and what it takes to turn a profit with it.
Tools and charting
The robot provides a series of useful trading tools that are fully customisable based on your trading needs. These include stop loss/take profit prices, market price entry points, and buying coins for commission.
As an example, If you don’t have enough currency in your balance to fulfill an order, the TradeSanta crypto trading bot will buy additional coins to cover the required commission.
Customer support
TradeSanta claims it can be contacted via Telegram 24/7 to answer any questions you might have. There is no Live Chat section available at the moment, but any non-Telegram-based inquiries can be sent directly to their email address.
Our verdict
Based on its popularity, user-friendly interface, number of customisable bot options, and useful trading tools, we would say that TradeSanta is one of the more complete automated cryptocurrency trading systems available on the market today.
Although designed to be functional even for beginner traders getting their start with automated trading, TradeSanta offers enough tools and features for even seasoned, large-volume traders based on the account package you choose. You can benefit from unlimited bots and virtually an unlimited number of crypto trading pairs to use them on if you opt for the platform’s ‘Maximum’ package.
TradeSanta’s number of supported exchanges could be larger, but the platform is aware of this and working to add new and compatible exchanges all the time. Apart from this, there just isn’t much downside to TradeSanta, especially when considering the fact that there is a free 3 day trial to try out a Basic account before needing to pay a small monthly price.
How to open an account with TradeSanta
To open an account, you can either link the platform to your Google or Facebook account, or you simply need to:
- Type in your email address
- Set a password
- Select which package you would like to use
- Enter your payment information
- Set up your robot(s) and start trading
Bear in mind you will also need an account with one of the supported exchanges so you can link TradeSanta to your account to place automated trades.
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