In this Trality Bot review, we intend to cover its features and functionality unbiased. So, reading this article will help you decide whether to use it or not for your trading purposes.
Trality is a Python-based trading bot-building platform. This specific platform can be used by both novice and experienced cryptocurrency traders (API).
With the Trality web-based app, you don’t need any specific hardware or software to build. More sophisticated traders will benefit from the Code Editor function of Trality.
On the other hand, beginners can use its function called Rule Builder to develop trading bots. It allows you to do it simply by dragging & dropping indicators.
So, if you intend to use this tool, we strongly recommend you to read this Trality bot review.
What is Trality Good For?
- It is an ideal option for those who intend to automate crypto trading strategies.
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What Are the Most Significant Benefits of Trality?
- It has plenty of tools for both experts and novices to enjoy and yield results.
- Powerful encryption on both ends to assure maximum security.
- Very convenient to the user, no matter if you are a total novice for this subject.
- A graphical user interface to make things more convenient.
- The system is based on the cloud, so access is possible from any platform.
What Are the Drawbacks of This Tool?
- It doesn’t come with a mobile application as of this writing.
- It needs more popular exchanges integrated.
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Trality Bot Review
Major cryptocurrencies have changed the way people think about money and wealth. And they’re only going to continue to do so. Using an algorithm related to technical indications, crypto trading bots generate buying or selling signals. These signals are then used to imply an automated trading process.
Connecting a trading account to a bot can allow it to initiate and close trades on cryptocurrency exchanges. The best thing is that you can do it simply with the press of a button.
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● The Developers
Moritz Ptzhammer and Christopher Helf established Trality in 2018. Using its specific platform, you may create and modify your own cryptocurrency trading bot. There’s no need to buy additional hardware or software on your computer when you use a cloud-based trading platform.
As a result of its adaptability and simplicity, the Trality infrastructure has grown in popularity. On top of that, the platform encourages crypto traders to learn and grow inside its community-driven architecture.
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● Features That Set It Apart from the Crowd
The Trality platform’s paper trade and backtesting features are also a big plus. Prior to making a real investment, you may experiment with virtual money on Trality’s platform.
With that, you can use your methods and algorithms to see if they are effective. Backtesting history may also be saved, and the platform has a variety of historical data available.
Algorithmic testing situations can also include configurable time frames. Features like Code Editor and Rule Builder are the platform’s two most important tools.
By dragging multiple indicators and dropping them into the Rule Builder, you may create a trading bot from scratch. Programmers acquainted with Python can utilize the Code Editor to create bespoke algorithms for more complex trading strategies.
As the first aspect of this Trality trading bot review, we intend to discuss its pricing. It is true that you shouldn’t pick a product solely by considering the price. However, many of us are curious about the price factor before purchasing a product or a service.
That said, Trality is a service that offers four plans in terms of subscription. Needless to say, each of these plans comes with different features. Interestingly, the plans of Trality are named after the pieces of a chess game everybody knows.
Their free version is named after Pawn. The other important thing is that all those plans come with unlimited backtesting for free. In addition to that, it offers you the option of paper trading and live trading.
Mentioned below is a brief comparison of each subscription plan you can consider before purchasing.
|Price||Free of charge||12.10 USD||48.40 USD||59.99 USD|
|Supported Amount of Trading||6050 USD||30250 USD||302500 USD||Unlimited|
|Smallest Tick Interval||1 hour||1 hour||5 minutes||1 minute|
|Number of Virtual and Live Bots||1||2||5||10|
|Duration of Log Retention||One Week||One Month||Six Months||Unlimited|
The plans listed can be found in a detailed view below.
● Trading Volume
On a monthly basis, the entire volume of your bots is recorded in the fiat currency equivalent. That includes all completed buy and sell orders. Once you have used up 80 percent of your allotment, you’ll get an alert. After exceeding your allocation, the system only processes sell orders to close down existing holdings.
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● Smallest Tick Interval
The plan you select is specific to the minimal (lowermost) tick interval. This means the interval during which you (your bot) will execute trades. The smaller the interval, the better. Trality offers intervals from one minute to one day.
● Virtual and Live Bots
This feature explains how many bots (virtual and live) can operate in the account. You should also remember that one bot can perform on many different tick sizes.
Then, it can use different types of strategies on several different pairs. This is a pretty impressive performance.
● Retention of Logs
Bot logs become useful when it comes to debugging actions that are taken by bots at a given time. As per this technology, Trality does store logs in all the paid plans at least for a specific time. Also, the storage is unlimited when it comes to costlier plans.
It is Trality’s goal to ensure that every user receives the support they need. To assist you in the process of constructing your bot, they provide a Helpdesk which is truly helpful. In fact, with this service, you can look for answers to the most common questions.
That’s in addition to the Discord server, where members of the community help one another out by answering queries. Trality also has support email addresses at email@example.com for emergency and more personalized inquiries if you want one-on-one communication. All in all, we appreciate their customer service in this Trality trading bot review.
This is one of the downsides we should emphasize in this Trality trading bot review. In fact, Trality doesn’t have a mobile app as of writing this Trality bot review. As we got to know, the app is under development, and it will be released sooner or later.
On the other hand, the company is working on a Bot Marketplace. On that marketplace, you can follow bots that are coded by others or even publish the bots you create.
Overall User Experience
User experience is another important point to consider in this Trality trading bot review. This trading algorithm creation platform can be a beneficial tool for individuals who have an interest in Python coding.
Also, it works for others who don’t have any interest in coding and want to use a practical algorithm. You may quickly and easily design trading bots with all of the functionality you require. You can do it by making use of the platform’s Rule Builder.
As mentioned before, it provides a graphical user interface that supports interactive drag-and-drop operations.
You may rapidly determine how certain technical indicators can initiate trades. In addition to that, you can decide where to position your limit as well as stop-loss orders. It can be done without having to go through the trouble of manually coding the system.
That’s the beauty of this Rule Builder. Traders who are proficient in coding could also use their Python Application Programming Interface (API). They can use it to modify the algorithms’ code and develop one-of-a-kind bots to use their own trading methods.
Benefits of Trality for Users
Let’s discuss some of the most notable benefits you can experience with the Trality bot.
● Cloud-based Platform
Thanks to the cloud-based functionality, Trality doesn’t want you to stagnate or limit to a specific platform. Instead, you can access it directly through any web browser. You don’t have to download any software to use this bot. That is an impressive point to emphasize in this Trality bot review.
● It Lets You Create Personalized Bots
If you want to create bots based on your preference, Trality is a good platform. You can use it to create bots that implement your own trading strategies at any given time. The best thing is that it doesn’t require any coding skills to accomplish all these tasks.
It’s true that you won’t be risking actual money until your bot has been extensively tested with virtual money. So, Trality is a great option for backtesting and benchmarking. Python Augmented Editor of Trality includes a user-friendly UI and good Python API capabilities. Nevertheless, it is ideal for more advanced users.
● Try It for Free
The other important benefit is that this tool lets you enjoy its features for free with virtual money. You can practice every feature with virtual money. You can start trading with real money after gaining confidence with the virtual money concept.
Security of Trality
Trading cryptocurrencies involves considerable market risk as well as the potential that the algorithm code may include a mistake. Trality never exposes your assets to these risks because they remain deposited at the crypto exchange you are using.
Trality does not have access to your funds and only uses approved exchange APIs. In fact, not even Trality can access your trading bot and strategies since they are perfectly encrypted end-to-end.
Trality has a decent overall rating. However, we’d give it a 5-star rating if it comprised a comprehensive mobile app. We also expect more exchanges in it so we will have more variety of choices. We should remember that it has emerged from beta very recently. So, we should anticipate seeing many more updates in the future.
Trality in Its Competition
Last but not least, in this Trality trading bot review, let’s discuss the competition. Trality has an advantage over the majority of its rivals because of its user-friendly GUI. Also, it features the ease with which it makes it possible to create bots using drag-and-drop.
Expert traders and programmers may create extraordinarily complex trading bots using the platform’s Python Code Editor.
In order to remain competitive, Trality is now working on its Bot Marketplace as well as a mobile app. We strongly believe that they will be released soon. If you are looking to establish a trading strategy, Trality’s free backtesting and paper trading tools might be ideal.
That’s our Trality trading bot review, and we would like to know your thoughts as well.