Let’s review Coinmatics, an advanced copy trading and analytical platform launched in 2018. The main Coinmatics product is copy trading. They connect traders and investors as well as facilitate the automatic execution of copy trading strategies. Both professional traders and beginners can gain profit with this service.
Summary
- Coinmatics is a crypto copy trading and analytical platform.
- Currently, only Binance exchange is available for copy trading. But Bitfinex, Bitstamp, Poloniex, Bittrex, HitBTC, Exmo are already included in the other services — portfolio, crypto arbitrage, analytics, etc.
- The platform is excellent to use for both beginners and professionals.
- The service is now in BETA version so that you can try it for free.
Coinmatics Pros and Cons
Pros
- Coinmatics provides not only copy trading service but some analytical tools for professional traders.
- It is a BETA version, and you can try it for free to check whether it suits your needs.
- Technical support is efficient and works fast.
- There are more than 30 strategies available for copy trading, and the number is continuously growing. For instance, one of them is the Binance Signals strategy, with an average profit of 46.48% and a total profit of 101.41%.
Cons
- The main disadvantage is the lack of Futures and Margin Trading (however, this functionality is in development and will be available in the nearest future).
- There are not many reviews from the users on the Internet.
- There is a minimum deposit to start copy trading — $50 that you have to transfer to your exchange balance.
Features
The main feature of Coinmatics is copy trading. Additionally, other services are helpful for professional traders: Ticker Alerts, Crypto Arbitrage, and Analytics.
Copy Trading
Professional traders at Coinmatics get profit from the investors who subscribe to their strategies and copy them automatically (automatic copy trading) or earn on payments from people subscribed to Telegram alerts (manual copy trading).
Copy traders/investors at Coinmatics subscribe to strategies submitted by professionals and copy trades automatically or manually depending on their preferences.
Ticker Alerts
You can set up ticker alerts with custom parameters to receive immediate notifications when it is triggered. All notifications will be sent to your Telegram account.
Crypto Arbitrage
Coinmatics provides information for arbitrage trading from various exchanges to find the deals with the highest spread. Both manual mode and Telegram signals about the most profitable deals are available.
Also Read: Crypto arbitrage guide: How to make money as a beginner
Analytics
You track your transaction history and enable daily reports on the state of your portfolio from multiple exchanges and wallets.
Users can look at the market from different angles using our analytical dashboards: Twitter Analytics Chart, Margin Positions Amount, Margin Positions Quantity, Fear and Greed Index, BTC Social Volume, and more.
Also Read: Best Blockchain Analytics Softwares
Coinmatics Review: How it Works?
Let’s focus on Coinmatics copy trading service.
Scenario 1: You’re an investor/ copy trader
- Create your account at Coinmatics.
- Connect your Binance exchange account by adding an API key.
- Choose the best strategy to follow: click “Start copying strategy”.
- Track your gains in Portfolio.
Detailed instruction is here.
Scenario 2: You’re a professional trader
- Create your account at Coinmatics.
- Connect your Binance exchange account by adding an API key.
- Register as a trader and set commission for copying your deals as well as a Telegram signals fee.
- Keep trading and get additional profit.
Detailed instruction is here.
Performance and Security
You do not give your API key withdrawal permissions. Thus, Coinmatics is not able to withdraw your money from the Binance balance. The platform takes all charges only from your Coinmatics wallet.
You work only with credible statistics. Coinmatics displays signals history, trading period, total and average profit, etc. for each strategy. Thus, you can estimate the risk level of the chosen strategy and make a considered decision whether you want to subscribe or not.
You can protect your account with two-factor authentication. Be sure to enable this feature after registering at Coinmatics. To enable TFA, go to your account settings and check Security tab.
Pricing
Coinmatics takes 5% of our traders’ profit on the platform. When traders submit their strategies, investors start following them and therefore earn money. If the strategy has a commission, investors pay it at the end of each billing period. We take 5% of those payments — that’s how we make money.
Investors are not paying to our platform anything. The only payments they need to make are commissions for copy trading and Telegram subscription fees. Those commissions and fees go to the traders (and we take our small 5% fee). At the same time, some strategies are free to follow — in this case, copy trading can be completely free. So for investors, copy trading costs can be as low as 0.
Conclusions
To make a long story short, Coinmatics is worth trying for crypto beginners who want to start copy trading as the interface is user-friendly, and there are all necessary conditions for it. Professional traders can increase their income by continuing trading without risk increase or bigger deposits.
Let us know what you think about the Coinmatics review in the comment section.
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