TradeSanta is a cloud-based cryptocurrency trading platform that is designed to empower traders to automate their trading on major crypto exchanges including Binance. Users can connect TradeSanta to their chosen exchange and it will trade 24/7, looking to take advantage of the fluctuation in cryptocurrency market prices on behalf of the user. In this TradeSanta Review, we will take a closer look at what it is and how it works. Hopefully, that will help you decide if it is something that can help you to achieve your own financial goals.
TradeSanta Company Overview
TradeSanta introduced their first customers in late 2018 and have since evolved into one of the most well known automated crypto trading services, expanding their user base over the years. The TradeSanta team works hard to deliver new features monthly, yet keep the service understandable for all levels of traders. They are continuously looking to develop and implement new markets, tools and services.
TradeSanta was designed with the primary goal to make automated crypto trading accessible to everyone, regardless of their experience level. Perhaps one of the most distinguishable features of TradeSanta is that it has an easy-to-use, yet powerful interface that provides everything you need to automate your crypto trading.
How does TradeSanta work?
TradeSanta is a fully automated crypto robot that aims to make crypto trading easier for users of all experience levels. In a nutshell, you can link the TradeSanta crypto bot to your chosen crypto exchange and it will conduct all of the trading activity for you. It takes care of the market analysis, entry, position management and exit. You can choose the input settings for it to use and run it on any cryptocurrency including Bitcoin, Ethereum, Dogecoin, Bitcoin Cash, etc.
Let’s take a look at exactly how TradeSanta works in a few simple steps.
- Create an account with one of the supported crypto exchanges. TradeSanta bots connect to your exchange and place orders on your behalf. To do that you need to create new API keys in your exchange account. The TradeSanta website has links to some useful guides that explain how to do this.
- Choose the cryptocurrency pair that you wish to trade and setup TradeSanta in just a few minutes. You can choose the trading strategies and money management that you would like it to use.
- You can then join the TradeSanta community to share your ideas and news on how your crypto bot strategies are performing.
- You can download the TradeSanta app to manage and track your crypto bots anywhere at any time that suits you.
TradeSanta Features
Hopefully you now have a clear understanding of what TradeSanta is and how it can be implemented within your trading routine. Some of the key features of the crypto bot include:
Long and short strategies
TradeSanta has long and short bots so that you can try to take advantage of both bull and bear markets.
Grid and DCA
TradeSanta bot offers 2 strategies: Grid and DCA. You can choose the strategy that suits your trading style and the market right now and the bot will take care of the rest whether you opt for taking profit for each buy separately (Grid) or average the price for all orders (DCA).
Take profit targets
You can set your own profit target for so that the TradeSanta bot will automatically close orders when you tell it to.
Stop Loss
You can manage your risks by setting up a Stop Loss to exit the position if the trade has gone against your strategy.
Technical indicators
TradeSanta can be set to use a range of technical indicators all at the same time. This includes Bollinger Bands, RSI, MACD, Day or Volume filters, to try and open the trade at the right time.
MACD: The TradeSanta bot will search for an entry point based on the MACD of a trading pair for the past 100 minutes. The MACD is primarily an indicator used to try and identify the market trend.
RSI: The TradeSanta bot will look for an entry point based on the relative strength index (RSI) of a trading pair for the past 100 minutes. The RSI is a momentum indicator that aims to give a signal if the market is oversold or overbought.
Bollinger Bands: The TradeSanta crypto bot will search for an entry point based on the Bollinger Bands of a trading pair for the past 1.5 hours on a 5-minute timeframe. Bollinger Bands can be used for trend-based systems looking for breakout of the bands and reversal systems that look for support/resistance around the bands.
Extra Orders
The extra orders features can be triggered when the price goes in the opposite direction to your expectations. In this instance, the TradeSanta crypto bot will place an extra order to buy (or sell) more coins at the current price.
Martingale
The martingale strategy is an automatic increase in the cryptocurrency volume of each extra order by a factor of 1.05 to 2. It tries to regain value lost during crypto market conditions that go against a position. This is a high-risk option that should only be used by experienced traders who understand how it works and are happy with the risks involved. If a martingale system goes wrong, it can quickly blow on account.
Smart Order
The Smart Order feature is designed to sell a specified amount of cryptocurrency at current price level split over a certain period of time. You need to choose a pair you’d like to trade and specify the amount. TradeSanta bot will take care of technical aspects placing orders and keeping them on top of the exchange’s order book.
Smart Order feature is essential for those who need to buy or sell large amounts of crypto. The trading bot will split the desired amount to buy/sell into multiple orders executed at market price.
Large volume trading
You can trade crypto with large volumes of buy or sell trade positions.
Bot templates
You can create your own TradeSanta bot templates or choose from the pre-set templates for a quick launch.
Buying coins for commission
If you don’t have enough quote currency in your balance to fulfil an order, the TradeSanta crypto trading bot can be set to buy additional coins to cover the commission (equivalent of 5 USD). If this option is turned off, you will need to make sure that you have enough cryptocurrency to cover the commission.
Dashboard
The TradeSanta Dashboard brings all your trading and account information in one place. Dashboard is a place where you can keep track of all active bots, trading results, balance and market dynamics, and latest news and announcements from the TradeSanta team.
Real-time tracking
TradeSanta has transparent analytics and can send telegram notifications. This makes it convenient to keep track of the robot’s progress from anywhere.
24/7 Support
The TradeSanta support team are ready to answer your questions or solve your problems 24/7. You can contact them via email or Telegram at any time.
Tutorials and Guides
There are plenty of video tutorials and guides provided that explain everything thoroughly.
Crypto Glossary
Automated cryptocurrency trading can be confusing at first. The TradeSanta team have tried to make their platform as user friendly as possible and prepared a list of common terms and their meaning for novice traders. The crypto glossary is available on the office website.
TradeSanta Trading Strategy
Once the TradeSanta bot is set up and ready to buy and sell cryptocurrencies, it will open a deal either immediately or after a signal from technical indicators are received, depending on the user filters set.
On the initial order, the crypto bot buys the amount of base currency indicated in the settings by the user. Once the initial order has been executed and the deal is open, the TradeSanta bot places the Take Profit order along with several Extra orders. The Take profit order is the one that can make a profit at the percentage level set by a user.
However, each time the price of cryptocurrency goes in the opposite direction than the strategy chosen, one extra order is executed and a new extra order is automatically placed. The take profit level is also reduced each time this happens. Extra orders serve to try and take advantage of the changing price and adapt the trading strategy according to the current market conditions.
This is quite a risky crypto trading strategy in my opinion. Whilst it is not uncommon for some crypto traders to “buy the dip” and to enter more positions even when already in losing positions, I think that this creates significant additional risk that I wouldn’t be comfortable with, especially considering that a user could end up with many orders open on the wrong side of the market.
Many times, I have seen this happen in forex trading and it usually ends up in a stop out or margin call. Please make sure that you have a clear understanding of the risk involved with trading cryptocurrencies, they can be very volatile. That being said, the TradeSanta money management features are fully customisable so you can change them to suit your own individual preferences as everyone is different.
TradeSanta Mobile App
The TradeSanta mobile app allows you to enjoy the full power of automated trading in your pocket. Users can create and manage bots on the fly. Since cryptocurrency market prices fluctuate 24/7, a mobile trading app that tracks your bots will come in handy.
If you have already signed up to the web version of TradeSanta, once you enter the app, you get instant access to your dashboard with indicators of all-time profit/loss, today’s profit/loss, total balance, the number of active bots, and your plan’s type.
You can keep a keen eye on each of the crypto bot’s performance with informative bot cards. The robot page provides you with charts and indicators that can be used to estimate the bot’s performance.
Some of the key features of the TradeSanta App include:
- Automated crypto trading on your mobile device
- Check your crypto bots at the click of a finger
- Manage your trading bots 24/7 without a computer/laptop
- Monitor your crypto portfolio on any smartphone
- Available from the iOS and Android app stores
How much does TradeSanta cost?
If you are a new user, there is a TradeSanta free-trial of the basic package that lasts for 3 days. I would personally have like to have seen a much longer trial as I think more time is needed to judge the performance of an automated system to see if it is something that I would like to use for the long term. Aside from the free trial, there are 3 TradeSanta packages to choose from:
TradeSanta Basic Package
- Up to 49 bots
- Unlimited number of pairs
- All strategies
- Telegram-notifications
- $14 per month (annually)
TradeSanta Advanced Package
- Up to 99 bots
- Trailing Take Profit
- Unlimited number of pairs
- All strategies
- TradingView signals for Binance, Huobi and HitBTC
- Telegram-notifications
- $20 per month (annually)
TradeSanta Maximum Package
- Unlimited number of bots
- Trailing Take Profit
- Unlimited number of pairs
- All strategies
- TradingView signals for Binance, Huobi and HitBTC
- Telegram-notifications
- $30 per month (annually)
How do I start with TradeSanta?
It’s actually very easy to get started with TradeSanta to automate crypto trading on Binance, Bittrex, Bitfinex, Upbit, Huobi and HitBTC. The first step is to set up an access point and then you configure the robot parameters to your personal taste. You can choose a trading pair, crypto bot strategy (long or short), take profit level and other settings. There is a handy built-in Wizard that guides you through the whole process and TradeSanta Bot templates can help users to choose an automated crypto trading that meets their own individual requirements.
TradeSanta Summary
Hopefully this in-depth TradeSanta Review has helped explain to you what this crypto bot can do and if it is something that you would like to use. I think that it can certainly be of use to traders who like automated trading strategies and have an interest in cryptocurrencies. It is one of the leading crypto software’s currently available when it comes to that.
TradeSanta is fully customisable so that it can be adjusted and set to each trader’s own needs. It is not an out of the box solution as such, although it does include some pre-set templates if you wish to use an already prepared trading strategy. That being said, I would personally create my own so that I have a clear understanding of why trade positions are opened and closed. I would also like to maintain full control over my money management and certainly would try to avoid using the martingale strategy option that it has.
The TradeSanta App is a very useful way to keep track of everything without needing to be at your computer. You can access the app from your smart device at anytime from anywhere in the world, provided there is an internet connection. What’s more, the app is very user friendly and there is a dedicated TradeSanta support team on hand to assist.
I would put this cryptocurrency robot up there with some other popular automated crypto trading platforms such as Quadency, Coinrule, Shrimpy, Zignaly, CryptoHero, Mudrex, Centobot, 3Commas, Trality, Bitsgap, Cornix, ProfitTrailer, HaasOnline, Gunbot, Cryptohopper, Stoic and Pionex.
Overall, TradeSanta is a solid solution for creating automated crypto trading systems but it does require some input on behalf of the user. An alternative would be to create automated crypto bots in a trading platform such as MetaTrader.
Whilst this would open up the opportunity to trade more instruments and use other brokers, it is most likely going to have a much steeper learning curve. On the flip side, TradeSanta can introduce those who are more familiar the MetaTrader and forex trading in general, to the world of Cryptos and Exchanges.
TradeSanta
From $14 Per Month
Pros
- Crypto trading robot
- Multiple cryptocurrencies
- Implements into various crypto exchanges
- Built-in technical indicators
- Money management
- Pre-set templates
- Trading community
- TradeSanta App
- Full support
- Video tutorials and guides
Cons
- Quite complex to setup
- Steep learning curve
- Applicable fees
- Limited crypto exchanges supported
- Limited free trial
Self-confessed Forex Geek spending my days researching and testing everything forex related. I have many years of experience in the forex industry having reviewed thousands of forex robots, brokers, strategies, courses and more. I share my knowledge with you for free to help you learn more about the crazy world of forex trading! Read more about me.
