Wunderbit Trading review
In this article we take a look at the Wunderbit Trading platform. This is a unique platform that operates as a broker, is an interesting aggregator for our exchange accounts and especially; gives us the ability to handle leverage and trading bots. If you are an advanced trader and are interested in solutions that make it easier to handle multiple exchanges, this platform might be right for you!
Introduction to Wunderbit
Wunderbit is a platform based in Estonia. It is supervised by the Estonian Financial Intelligence Unit and has a registration date under local jurisdiction of January 2021.
Wunderbit is divided into Exchange and Trading areas. On the Exchange, you can make direct purchases of several of the most popular coins. However, a much more interesting area of the company is the Wunderbit Trading platform. It is here that we get the possibility of cumulative access to several exchanges simultaneously. This allows us to freely trade based on leverage, use trading bots, as well as track and copy the movements of other users.
Registration and account
In order to start your adventure with Wunderbit Trading you will of course need to create an account. To do this you will need to enter your email address, set a password, and give your user a name. After literally a moment our account is ready to work. The registration process also allows us to get access to the seven-day free PRO version of the platform, so that we can test all its features. We will tell you more about the differences between the available plans later in this material.
Dashboard and the process of connecting your account to our exchanges
Immediately after logging into the exchange, we are shown the “Dashboard” tab. Several options appear in it. The first is a window at the top of the screen called “My Exchange”. Through it we can connect our Wunderbit Trading account with our accounts present on the classical cryptocurrency exchanges. Among them, we can choose the following platforms:
Binance, Kraken, Bittrex, FTX, ByBit, Deribit, KuCoin, OKEx, HitBTC, BitPanda, Bitmex and Huobi.
Through the API protocol we get access to the assets gathered on the mentioned exchanges. Of course, we can add multiple accounts, and if we don’t have any, Wunderbit gives us the option to use the links at the bottom of the page to create them.
The moment we have added the first of the exchanges to Wunderbit Trading, a wide range of possibilities opens up to us. By going to the “Terminal” tab we see a full set of tools in front of us.
The first thing to look at are the “Exchange” and “API” items, located on the right side of the screen. This is where we switch between our accounts on different exchanges to trade the assets held on them. Once we have chosen the right one, under “Available Pairs” we indicate the trading pair that interests us at the moment.
After making the selection, each time on the left side of the screen we will see a graph with the balance of the asset we own on the given exchange.
Thus prepared, we can begin the process of creating an order. Here in the window “Strategy Type” we can use three functions. From them we can choose the classic form of trading, Spread, and Dollar Cost Averaging (DCA). Depending on your choice, the availability of trading pairs may vary, so you should choose the right one.
In the next steps we choose the type of order, as well as the size of the portfolio we want to allocate for its execution. We can choose to specify a percentage or its specific amount. Another element is the selection of levels at which we want to take profit from the market. Here we can choose from several clearly described options, secured at the end with the “stop loss” function.
Although the whole thing seems to be rich in details it is at the same time very clearly and precisely described, which definitely makes trading easier.
A significant convenience that should definitely be mentioned is the “Position” function, located in the main menu. Here we will find all the necessary information about the open orders, divided into all types of strategies. This is also the box from which we can edit our orders. The creators of Wunderbit Trading know that the cryptocurrency market is affected by many factors. As a result, an instant close feature has been added to all positions so that no user, at key moments, has to worry about canceling individual orders each time.
One of the most interesting features of the platform is the setting up of trading bots that react to the strategies indicated by us. To do this, in the “Dashboard” section at the top of the screen select the “Bots” function. We will see a segment that is divided into two parts. On the right side we can see information about the alerts based on the TradingView platform, as well as a series of videos that make it easier to understand how bots work.
On the left side we can see a set of functions. This is where you create a trading strategy based on automated actions.
To trade with a bot, we need to give it a name, select one of our exchanges and choose the right API. Here we will also be asked to choose the timeframe on the basis of which our bot will operate, and of course to indicate the appropriate trading pair.
In further steps we can choose whether the start of the trade should be immediate or we order our bot to wait until the chosen asset reaches a satisfactory price.
A very interesting feature of the platform is the possibility to repeatedly enter a position, or to change it into the opposite one, when the right signal appears on the indicator.
Similarly to the “Trading Terminal”, here we can also determine the levels of position exit through “Take profit”, as well as protect ourselves with “Stop loss”.
Any positions we open will from now on be available in the “Bots” tab on the left side of the main screen. From this position we can fully control all processes.
Following the movements of other traders
The Marketplace tab enriches the platform with interesting features. Here you will find a list of traders who provide trading signals to other users. You can select individual traders, view their statistics and, if you are satisfied with the statistics, let your bots copy their movements. Many traders provide this feature for free, others require payment.
You can become a signal provider too!
In order to provide signals to other users of the platform in the “Marketplace” tab you have to choose the “Become a Trader” function. The settings will allow us to add any of our APIs and make them public. We can also assign any price to track our steps. The only requirement for this feature to work is that you must have made at least 20 trades in the last 30 days.
In the “Followers” window we will get access to the data on the popularity of our account, and in the “Stats” we will have access to the detailed information on the earnings obtained thanks to it.
Profit not only by trading cryptocurrencies, but also through referrals. For each person you refer you can get 20% commission. It is for life. Your friend, on the other hand, can benefit from a 10% discount on the monthly subscription of his choice.
Choose the right plan for you
Remember that a newly opened account is a PRO subscription for 7 days. After this time it will be automatically changed to FREE. To see the differences between the plans and their prices, please visit the “Billing” tab. The plans differ in the number of open positions that can be held at the same time as well as the number of bots available at one time. This is especially important for those who make a lot of trades.
A definite strength of the platform is the support. At any time you can ask the person in the chat for help. The chat icon is always located in the bottom right corner of the screen. In addition, at the bottom of the menu on the left, you will find the “Tutorials” section, and in it, many necessary issues are discussed in a very friendly manner.
Wunderbit Trading - summary
Wunderbit Trading is a platform that surprises. It is an excellent aggregator that allows you to trade on a large scale. Seemingly complex operations become very simple on it. All this is accompanied by a series of videos, making it easier to understand each issue. Tracking and copying the movements of other traders is also a great solution, perfectly complementing trading based on the available bots.
Interestingly, the platform allows you to profit in three ways. The first and basic is to trade crypto assets, the second is to profit from the referral program, and the third is to share trading signals with other traders. All this means that Wunderbit Trading has the right to be very appealing!
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