Botee.Trade Review: Worth It or Not?

Botee.Trade Review: Worth It or Not?

Botee.Trade is a cloud-based trading platform available on a desktop and a mobile interface. The platform allows traders to code their game plans using advanced trading tools. It was first developed in 2017 to test multiple crypto strategies on backtests and live markets. We will review the service in our article to see if it can be profitable for beginners and professionals alike.

Botee.Trade Review: Worth It or Not?

About Botee.Trade

Botee.Trade is packed with the following features:

  • Trading cryptocurrencies 24/7
  • Set custom time frames for analysis
  • Customize buy and sell strategies
  • Free backtests and unlimited paper trading
  • Notifications available via Discord and Telegram

How it works

Botee.Trade uses the coded information to place respective buy or sell orders in the market. Multiple settings can be configured according to the will of the trader. To start trading, participants will have to connect their exchange with the help of API keys. 

API key requirement at Botee.Trade.

How to get started with Botee.Trade?

Traders can start with the service in the following steps:

  1. Purchase one of the subscription plans available on the website
  2. Create an API key and connect it with the bot
  3. The algorithm will place a trade as soon as it finds a suitable opportunity

Botee.Trade pricing

Botee.Trade offers its services via monthly subscription packages. The plan differs in terms of maximum deposit and customer support.

PlansMonthly PriceMax Portfolio Value
Free trial$0/month$1000
Standard$60/month$10,000
Advanced$120/month$100000
Superior$270/month$300,000

Fees and commissions

There are no additional trading fees other than the monthly costs. Nonetheless, traders will have to pay the maker/taker fee at their crypto exchange.

Botee.Trade fees.

What exchanges does Botee.Trade integrate with? 

Botee.Trade integrates with two cryptocurrency exchanges:

  1. Binance
  2. Bitfinex
Compatible exchanges at Botee.Trade.

Security and reliability

The developers state that the bot does not have deposit or withdrawal rights on your exchange. The algorithms are independent and with their own servers.

What languages does Botee.Trade support in their product?

Botee.Trade supports only the English language at the moment.

What kind of support options does Botee.Trade offer?

Traders can only contact the authors with the help of an email and phone number. The developers are not transparent about their names and whereabouts. Such practice definitely speaks about the product inferiority. 

The only information developers leave about themselves is an unconfirmed email and phone number.

Strategy: hedge, scalp, and futures

Botee.Trader has a number of technical indicators, including MACD, Bollinger bands, RSI, Stochastic and Stochastic RSI. Traders can use dynamic stop loss and take profit on their trades. The platform supports averaging strategies and the use of leverage. Both of them can add significant risk on your portfolio. 

The interface of Botee.Trade

Botee.Trade review: backtesting

Botee.Trade claims to offer free backtests and unlimited paper trading on virtual funds. However, no historical reports are available on the website which counteracts their statements.

Trading performance

The EA does not have proper live records tracked by any renowned trading platforms, such as TrustPilot, etc. This keeps us blind regarding actual drawdown, win rate, and profitability.

Botee.Trade: user experience

There are no customer reviews present for Botee.Trade on notable platforms such as TrustPilot. Without verified user feedback, it is not possible to know how the general market feels about the algorithms and their performance.

Should you use Botee.Trade?

Botee.Trade supports Dollar Cost Averaging strategies that can cause a high drawdown if the market trends in one direction. The platform is unsuitable for beginners as it may require advanced coding skills.

Wrap-up

Wrap-up
5 10 0 1
Botee.Trade is not transparent with traders on multiple factors such as vendor transparency, backtesting, and live records. It currently supports only two exchanges which is quite disappointing for a platform that has been live for 5 years. Traders should keep in mind that the use of high leverage can be detrimental if misused.
Botee.Trade is not transparent with traders on multiple factors such as vendor transparency, backtesting, and live records. It currently supports only two exchanges which is quite disappointing for a platform that has been live for 5 years. Traders should keep in mind that the use of high leverage can be detrimental if misused.
5/10
Total Score
  • Features:
    6/10 Normal
  • Reliability:
    3/10 Bad
  • Fees and Commissions:
    5/10 Neutral
  • Price:
    7/10 Good
  • Transparency:
    3/10 Bad
  • Ease of Use:
    5/10 Neutral

Positives

  • Unlimited backtests
  • Dynamic exits on trades

Negatives

  • Lack of vendor transparency
  • No live or backtesting records
  • Uses risky grid strategy
  • Provides leverage which can cause a high drawdown
Total
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