Neoprofit Review 2024: Platform for Crypto Trading Bots

Neoprofit aims to develop a dependable platform for cryptocurrency trading bots, designed to assist users in avoiding emotional trading decisions and achieving consistent profits in their cryptocurrency investments. Neoprofit also offers its automated trading bots on over 15 crypto exchanges. However, https://neoprofit.org/en-ca/ unlike a lot of its competitors, Neoprofit does not offer automatic trading bots for its free plans, which makes the package unuseful. The platform also supports robust and comprehensive settings necessary for many traders who have advanced trading needs available in the SmartTrade section.

• A Trailing Stop Loss order differs slightly as it is percentage-based and automatically adjusts to price fluctuations, whereas a Stop Loss order is set manually at a fixed price threshold.
• It integrates seamlessly with TradingView via webhooks, allowing for simplified management of multi-pair trading positions based on webhooks alerts.
• If you’re confident to start with real trading, find out how to connect exchanges to Neoprofit.
• Next, tap the “Sign Up” button then enter your email address and password, or use your Google account, Apple ID, or Facebook account to sign up by clicking on the relevant buttons.
• It supports multiple crypto exchanges and allows real-time performance tracking of your investments held across all exchanges and even offline wallets.

The tool has an attractive user interface and a comprehensive tutorial part with clear language. In keeping with the spirit of the name Coinrule, trade instructions are often known as Rules. If you are just starting out with trading bots, we suggest you try out the Demo Account option first, which allows you to play around with virtual funds and employ different strategies without risking real money.

In a sideways market, grid bots can perform quite profitably if a trader knows when and how to deploy them and when to shut them down. The copy trading feature is a variation of social trading, allowing you to copy strategies of more experienced traders and get similar results with no prior experience. Build your portfolio while you sleep using expertly engineered automated bots that deliver the performance elite traders demand with the simplicity new users need. For example if the bot is set up on Binance Futures USDT-M, then you can copy it to other Binance Futures USDT-M.

Neoprofit makes it incredibly easy to manage multiple trading accounts on multiple different exchanges all from one convenient platform. In October of 2023, less than one year later, Neoprofit experienced its second security breach, which compromised several users’ accounts. It is safe to say that the Coin Bureau team do not recommend choosing Neoprofit at this time. The SmartTrade platform also features notes and a trading journal to keep track of your trades and provides an automatic summary of your trading statistics. This is incredibly useful as it is crucial for traders to track their trading performance to identify what works and what doesn’t to improve their trading game.

Those just getting started in crypto bot trading should absolutely go with this option. Trading exercises using a crypto-bot can either be partially or entirely automated. In addition, new ArbitrageScanner users can get up to a 72% discount. Mizar supplies a simplified yet advanced trading approach for both newbies and experts, while Neoprofit fits high-volume users with solid experience.

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The team behind the project aim to help minimize investors’ risks, and limit their exposure to losses, while also maximizing their profits. I hope this Neoprofit review provided you with all the information you need to decide whether or not the platform is right for you. If you are still on the fence about whether or not crypto trading bots are worth it, we explore those questions in our Crypto Bots- Complete Guide.

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Price deviation from average entry price – if enabled, the bot won’t process with the new signal if the current price does not deviate from the average entry price. While Neoprofit presents a popular option, comparing alternatives like Finestel can lead traders to solutions better tailored to their needs. As with any trading approach, prudent strategy selection and execution remain essential with copy trading. Once a copier allocates capital to a leader, all trades are instantly mirrored based on the defined copy ratio. No manual intervention is needed after the initial connection, as trades are duplicated automatically via the platform’s algorithms. This scripts checks closed deals of specified bot(s) at regular intervals and compounds any profits made, respecting BO/SO ratios or even change Maximum deal settings if configured.

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You can use this free trial to test all the tools and access the different marketplace signals that require tools that are only available on the PRO plan. In some cases, some providers will require you to sign up to their website to access the trading bot’s settings and support. Resetting your demo account will remove all trading history on the demo account and reset balances. To enable your Neoprofit paper trading account, all you need to do is to go to account settings, find the “Show Demo Account” on the right-hand side of the page and switch the Toggle to green. Next, click “Activate” under Paper Trading on the top bar and set up your own bot.