CLEO is the bot up for review today.
The cryptocurrency market has evolved and grown in popularity over the last few years.
Alongside this digital currency market, the cryptocurrency trading bot industry has experienced quite a boost over the past couple of years.
Crypto trading bots have become almost essential for managing strategies for crypto buying and selling activities, with some offering extra services to sweeten the pot.
One of the main purposes for these bots is the ability to rapidly and automatically trade to streamline and make your efforts more accurate and efficient than manually trading.
Of course, you need to create the best strategies to achieve this.
Cryptocurrency trading bots are cutting-edge technology solutions. Your goal is to find the one that best suits your level of skill and your budget.
Some require that you have a vast knowledge of coding and/or trading and others have strategies from which you can choose and hone.
Most of these trading bots offer a knowledge base and helpful recommendations on how to code. So, you may have to go through the learning process first.
CLEO is a crypto trading bot that shows promise in efficacy in a program with a user-friendly interface. As with most of these intuitive cryptocurrency trading bots, there is a monetary cost.
That is why reviews like this one about CLEO are so important for helping you to choose the best one for you.
How Long Has CLEO Been in Business?
This company is best known as CLEO.one and was launched in 2016, but didn’t achieve much attention until 2019 which is a little late compared to others in this industry.
Apparently, there were delays in their promotions, so that’s what delayed its introduction. CLEO Finance is its parent company that has been around since 2016, so the people behind this crypto trading service are not novices in the industry.
Despite the delay in its launch, this Czech Republic business offers these bot tools in a cloud-based presentation.
That means there is no software to download and install since you can use this system in your browser.
This system uses the GUI (graphical user interface), which is one of its unique characteristics. It also features a comprehensive creation function for strategies.
The interface offers the point-and-click style to make it easier to use its functions, settings, and features.
Recently redesigned, CLEO has combined its support to include more of the popular exchanges, free user strategies, and other offers you may want to see.
How Does CLEO’s Reputation Look?
This trading bot doesn’t get as much attention as some of the other crypto trading services that launched in 2016.
As mentioned earlier, this is believed to be due to delays in its product release, lukewarm response, and lack of effective marketing.
Even now, for whatever reasons, this cryptocurrency trading bot is still essentially obscure with little to no notoriety among its competitors and in the general cryptocurrency community.
Since it doesn’t have the reach it needs to attract traders regularly, it doesn’t seem to get noticed by novice or experienced traders.
This is made obvious by the fact that its fan following is quite low and it doesn’t seem to have much of a user base.
A little while back, the team started using Bitcointalk to release information from its blog and respond to questions that have been left unanswered in the past.
Perhaps this is how they are planning to increase their reach and try to expand its presence.
The user-friendly interface design, new marketing methods, and accessible tools may become more popular in a while.
What Exchanges Does CLEO support?
As we mentioned above, the most popular cryptocurrency exchanges are supported by CLEO.
- Binance US
- Coinbase Pro
It seems that this platform intends to continue to gradually add more support for more exchanges. Overall, this service allows you to easily switch between exchanges through the connectivity options.
Besides cryptocurrency, the people behind this service plan to start supporting other forms of trading assets like forex and equities, but until then, it’s just for cryptocurrency.
How Much Does CLEO Cost?
This crypto trading automation service offers multiple pricing models for traders of various needs and budgets.
It allows you to start with a free plan that has limited features, but still makes a good way to demo the system before trading funds.
In total, there are four packages including the free plan. Each of the three paid plans allow monthly or yearly payments.
Much like other conventional bots, the yearly plans offer large discounts over monthly payments.
All of the paid plans deliver unlimited solutions for exchanges, paper trading, backtesting, and a point-and-click option for building strategies. The number of these features vary between the plans.
Free: the free plan is a demo version that doesn’t offer live trading. It is only a demo version that lets you test it via paper trading and backtesting to see how it works in real time.
It offers 10 backtests, 1 asset rule per month, 2 paper trading chances, and 3 rules per strategy per month.
Starter: This is the first tier plan. The costs associated with this one are 68 euro per month or 588 euro per year (49 euro per month).
This plan does come with live trading options. It offers 10 rules per strategy, 3 assets per rule per month, 100 backtests, and 10 paper trades per month.
You also get 5 real-time live strategies, maximum cryptocurrency historical data, and more.
Trader: This second tier plan costs 199 euro per month for the monthly plan option or 1788 euro per year (this works out to 149 per month).
This plan gives you 500 backtests, 10 assets per rule month, unlimited rules per strategy, and 30 paper trading instances. Also, real-time live strategies and no caps on historical data across markets.
Trader Pro: The third and final tier on this plan tower costs 349 euros per month on the monthly plan and 2988 euros on the yearly payment plan (249 per month).
This package offers the most of all features. 100 paper trading instances, 30 assets per rule, 100 real-time live strategies, unlimited rules per strategy, and unlimited historical data across markets.
Ease of Use: As previously mentioned, one of the unique things about CLEO is its ease of use. The interface is one of the most intuitive amongst these bots.
Essentially, this system looks like a WordPress site on the backend, so you can know this is pretty easy to navigate.
The features are clear and well categorized. It’s said that even if you have never used a trading bot before, you should be able to navigate this one. The strategy building function is also simple to use.
Some other options for ease of use include Panic buttons to stop all trading with one click, data visualization, and other features that are being regularly added.
Settings: The settings, indicators, and strategies that are crucial to modern crypto trading are included with this bot.
- Price Changes
- RSI (Relative Strength Index)
- MACD (Moving Average Convergence Divergence)
- EMA (Exponential Moving Average) Strategy
- Candlestick Patterns
These can be used alone or in combination with other created strategies. The accessible and shared strategies are those that have been backtested, so they should work as expected.
You can always check them out through backtesting in real-time.
Security: The security protocols are within the industry’s gold standard, so they never request direct access with your exchange account.
It only connects through API, which cannot gain access to your exchange accounts unless you allow it. By default, your funds can only be used to make trades.
Since you don’t have any software to install on your computer, there are no concerns with security. The secure server runs through the Web, adding to the security and safety of this service.
The one downside we see is the lack of two-factor authentication, which we prefer to be included in these services. While it doesn’t make it less secure, it’s certainly a deterrent to us.
Customer Support: There is a comprehensive FAQ section with several text and video tutorials/guides that show you how to use this platform.
While this is all well and good, they don’t provide answers to anything beyond the basics.
Customer support is in the form of live chat that usually answers queries within a few minutes to hours, depending on business hours. The active social media channels are also good for reaching out for help as an alternative.
Profitability: Just like the other platforms, CLEO doesn’t provide promises or guarantees of profitability. As expected, your success is based on your own skills and knowledge of trading.
As always, we recommend that you do your own homework to learn as much as possible about these cryptocurrency trading bots. The choices you make in which one(s) to use is ultimately up to you.
While there seem to be many benefits included with CLEO, the lack of two-factor authentication and the high-end cost would deter us from using this service.
That could change over time, but that is our current opinion.