Since so many accomplished and novice traders are transitioning their cryptocurrency trading over to cryptocurrency trading bots to automate their trades, we have to feel some skepticism regarding the efficacy of these sorts of trading tools in the digital asset realm.
Honestly, these systems don’t seem exaggerated or overly hyped up. If anything, it kind of makes sense to want to be able to efficiently facilitate the buying and selling process for trading.
The claim is that cryptocurrency trading bots are able to react more quickly to market fluctuations and for maximizing potential profits.
What trader wouldn’t love to properly automate their trades and other activities to save time and to be able to enjoy their lives without having to choose between watching your crypto investments and your regular job?
The challenge isn’t whether you can find one of these efficient trading bots, but which one to choose from the multitude of them available online. It’s hard to narrow down the perfect fit for your cryptocurrency trading.
It seems that when one hones their skills on one trading bot, another comes along that looks more appealing with its shiny bells and whistles. Then, when you switch to your new, shiny trading bot, another product shows up just begging to be tested. It seems like a never-ending process.
Apex Trader Review 2023
Reviews like this one about Apex Trader are important for those of you looking for a trading bot that will work well for you.
Let’s see what this cryptocurrency trading bot has to offer.
Top-rated Crypto Trading Bots
How Long Has Apex Trader Been In Business?
Apex Trader’s home base is Cambridge, England, and was rolled out in April of 2018. Unfortunately, this service hasn’t enjoyed the same popularity as others in the industry, especially those that were launched within the same timeframe as Apex Trader.
This company has been pretty active over the past few months sharing website updates and sharing information about its offerings across its social media networks.
Just like most other modern crypto trading bots, this service uses a web-based system and the point-and-click GUI (graphical user interface, which is somewhat unusual in this niche. Some others are downloads with desktop applications and use other interfaces.
It seems that the remote interface seems more appealing to some traders because it provides fast and easy access to the service. Therefore, you are not tied down to a single computer with the application installed on it.
From what we have gathered, this company provides several modern features, which makes it a solid service suitable for virtually any type of trader, but especially traders who have used or are using trading automation technology already.
This cryptocurrency trading bot allows for indicators, trading strategies, different order types, and other enhanced features that potentially make it an advantageous system.
How Good is Apex Trader’s Reputation?
This service doesn’t stand out from the plethora of other crypto trading bots even though it has been around for over two years. It hasn’t really done much to show itself off to traders. Their following is below standard compared to other trading bots that are around the same age. It seems they keep a low-profile presence.
However, there is no lack of positive reviews from Apex Trader’s users. This bot even gets stellar reviews from critics who have tried the service in real-time. We found that this bot to be somewhat impressive, with a modern website layout, but like any other sort of service, we also found some downsides.
The less than user-friendly system can be a deterrent to novice traders, but if you’re a professional or advanced cryptocurrency trading bot user, it does what it should do.
The positive reputation that this trading bot has due to its positive reviews plays a major role in selling its product. We noticed that its Discord and Telegram channels are gradually engaging more people and building a community.
Also, this community seems happy with the functionality of this automated trading service, so far.
What Exchanges are Supported By Apex Trader?
There are a limited number of cryptocurrency exchanges supported on this platform, though about two-thirds of them are wildly popular.
This information actually adds to this service’s usability and what makes it desirable for traders with existing accounts on the supported exchanges. These traders have no issue with entrusting their digital assets to them.
Four of the exchanges are:
No doubt, you recognize these top exchanges. Even though the overall list is still limited, we think Apex Trader will add more in the future.
What Does It Cost to Use Apex Trader?
There are two packages available on the website, Apex Spot Trading Bot and Mako Margin Trading Bot. The first package is £30.00 per month and the second, £60.00 per month.
The Apex package supports Binance, Kraken, and KuCoin for spot trading and the Mako package offers margin trading and supports only ByBit.
We are a little perplexed about the fact that Kraken is not supported for the margin trading function on this platform since it can be utilized for that exchange. Also, you will not find a side-by-side comparison model on the website for the two packages.
New users can take advantage of the 7-day trial.
Ease of Use, Settings, Customer Support, Security, and Profitability
Let’s discuss the advantages and disadvantages of using Apex Trader before we give our final thoughts about the service.
Ease of Use: This is a GUI point-and-click interface, which isn’t as user-friendly as most other crypto trading bots that prioritize ease of use.
So, you may be able to use this platform without using an excess of coding, other settings like indicators and setting up strategies does take more technical skill and knowledge of trading bots and digital assets.
We don’t think any seasoned trader would be deterred by this, but it’s something you should consider if you have never used trading bots. Yes. You could use the 7-day trial period to test this service, but there is an arduous learning curve if you haven’t used trading bots for crypto trading before.
That said, Apex Trader does have a FAQ section that could potentially help you with your learning process, but it’s hardly a substantial educational resource. Even with the sparse screenshots on specific topics, the FAQ section is below standard if you really need help on features not covered in the FAQs.
Settings: Indicators, strategies, and several other kinds of settings are available on this platform. This aspect of the system is more comprehensive and allows experienced traders to hone their buying and selling tools.
- Strategies: buy/sell, automation, ART (auto reverse trading), and DCA (auto dollar cost averaging).
- Indicators: OBV (on balance volume), MACD (moving average convergence/divergence), MOM (momentum), ROC (rate of change), SRSI (stochastic relative strength index), RSI (relative strength index), STD (standard deviation), WT (wavetrend), STOCH (stochastic), and UO (ultimate oscillator).
You will also find TraderView signals and options for paper trading in real-time via the Test Mode. You can also buy and sell in Live Mode.
The lack of backtesting available on this platform doesn’t lend much to its usefulness in our point of view. After all, traders need to know how much profit they could have made based on past market conditions. Most traders want a cryptocurrency trading bot that allows for backtesting.
Mako Margin trading offers more functionalities from this platform, which enhances its appeal. Some of the functions include layers, stop loss, position tab, and entry protection.
Security: Because you don’t need to install an app on your computer or another device, the security level is high on this web-based platform.
The website is hosted on a secure server, which means none of your data is transferred without encryption. That just means your data is safe. Plus, you are sharing very minimal information on the website anyway.
This service uses the two-factor authentication process, so you will be the only one who can access your account. The only way to access your account will be through phone/text verification.
By using API keys, this service ensures there is no need to ask for permission to withdraw funds. You only need permission to access your account. This way, your investments are secure.
Customer Support: The users of this platform say that customer support is easy to access via a ticketing system and email. Also, some contact and support are available through social media channels, especially Discord and Telegram.
Profitability: As is common in these trading bots, there is no guarantee of profitability that comes from the efficacy of the bot. Cryptocurrency trading is wildly volatile and cannot be predicted regardless of how good the algorithm is.
Top-rated Crypto Trading Bots
The ease of use is most suitable for the seasoned trader, so we cannot recommend the Apex Trader platform for newbies. However, we don’t tell novice or experienced traders where to do their cryptocurrency trading. That’s up to you.
There are things that we question like the lack of margin trading for Kraken, but if that doesn’t perplex you as it does us, then take that 7-day trial if you want.
While we think Apex Trader is safe to use, it hasn’t impressed us like Bitsgap and Quadency, which we do highly recommend for your crypto trading needs.
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2 thoughts on “Apex Trader Review 2023 – Is It Safe? Is It Legit?”
Apex Crypto 24 took my $91 from my CoinSpot and transfer to its platform. My client Id is 4293585. Mr Jason is my account manager who did not give me any profit from its platform. I did not receive any amount of profit since my account manager traded last Friday 14/10/‘22. Apex Crypto 24 is a scammer .
Apexactivecoin24 robbed me! I invested more $30,000 I didn’t get return on investment or my money back. Total scam. Invest with them at your own risk.