January 2024 TokenTact Review Pros, Cons & More
The bot automatically invests for us using Buy-the-Dip to buy crypto at a low price and Covered Gain to sell crypto while earning passive yield. In this case, we set the target buy price of BTC at $16,500 and will sell it at $16,500 after successfully buying https://harmonynews.one/tokentact-trading-bot-review/ it. A： When you create the bot, the bot will use part of the investment to buy the spot and place sales orders based on the parameter setting. Since the bot is holding some of the spot positions, orders may fluctuate due to the crypto price change.
We believe TokenTact would be a great option for high-volume and mobile investors. TokenTact is completely free to use, has very low fees (0.05% in comparison to 0.10% on Binance or Kucoin which are considered low as well). They have a thriving community where you can exchange ideas and bot setups. There is also a solid number of experienced traders whose bot strategies can be copied.
- However, such an approach can lead to unnecessary losses for users, especially when the market quickly rebounds after a temporary downturn.
- Watch this short video introducing the Grid Trading bot to gain a better understanding.
- It offers leverage choices ranging from 1.2X to 5X, and you may utilize the tools provided to increase your profits.
- You can freely choose a strategy, and upon selection, it will provide you with the estimated liquidation price.
- Through the use of exchanges like Binance and Huobi, TokenTact is able to take advantage of the high level of security that these platforms provide by retaining its funds there.
There is a higher probability that your covered gain gets exercised. However, it is always your choice to choose a higher sell price for covered gain if you think the price of crypto will be much higher. In addition to the normal grid trading functions, it allows for leverage of up to 100x and enables short selling.
You can deposit all major cryptocurrencies and from recently, fiat as well via credit card deposits. That will cost you 3.5% for European deposits and 4.5% for non-European users. TokenTact has no monthly fee, but only a 0.05 percent rate as a trading fee. This means that if any one of the liquidation prices is triggered, both of your grids will be liquidated. Step 2, choose the futures you want, then click ‘add’ to set up a long grid or a short grid. Cross Margin Futures Grids are new type of grid bot launched on TokenTact.
You can easily list your trading bot on the TokenTact TradingView Marketplace. Yes, the 16 automated crypto trading bots available on the exchange are entirely free to use. Additionally, they are also cloud-based so you don’t need to leave your device on in order for them to work behind the scenes. In addition to trading bots, TokenTact also supports manual trading between some of the most popular cryptocurrencies. The Smart Trade terminal allows traders to set up stop-loss, take profit, and trailing in one trade.
The broker also holds more than $10,000,000 in investment from leading companies, such as ZhenFund and Gaorong Capital. In my experience, the bot buys in increments, establishing a new profit objective when the price falls. The performance of crypto-traders can be visualised with GRID Bot data. Roughly 60% of Binanace and Huobi orders are available to users of TokenTact. The remaining 40% on order books are not legitimate and cannot be used. This is still a very high number available to traders and helps to ensure that orders are filled on TokenTact.
TokenTact keeps its funds on secure exchanges like Binance and Huobi, which means that the company benefits from these high-level exchanges’ security features. TokenTact is backed by Gaorong Capital, Shunwei Capital and ZhenFund for more than $10 million. TokenTact does not inform users of the type of encryption features it uses to prevent data hacks, which we’d love to see the broker add in the future. They can only be used once all of these steps have been completed.These safety practices help to keep the TokenTact Lite users safe when using their services.
It supports many bots, such as Grid, DCA, rebalancing, arbitrage, etc. You can also benefit from low fees, high security, and great customer support on TokenTact. When the price goes up and down, it does the orders and makes money from the difference, multiplied by the leverage ratio. You can use this bot for volatile markets with clear trends and change the grid number, range, profit ratio, and leverage ratio.
You can use futures trading to bet on price movements or multiply your positions. TokenTact provides a very high level of customer service, which makes them highly accountable to its customers. Several alternative methods are available for getting in touch with TokenTact’s customer support personnel.
DayTrading.com is committed to helping traders of all levels make informed decisions about which broker to trade with. If you have experience trading with TokenTact please share your personal review of the broker and what you think are strong and weak points. Compare TokenTact with the top 3 similar brokers that accept traders from your location.