The world of crypto trading can prove to be extremely challenging for you if you are a beginner because, at this stage, you lack the confidence and knowledge to handle things. For instance, as a newbie, you might get stressed out while making a complex trading decision, which can result in serious consequences in your crypto trading journey.
On the contrary, you see people making tons of profit through crypto trading, and you cannot even make your first move. Now you have a strong desire to join this lucrative financial market, but it seems unachievable.
In order to learn crypto trading, you will have to invest a considerable amount of time and resources. In addition to that, you will need a sufficient amount of capital and patience to deal with all sorts of ups and downs in your journey.
You may also have to bare financial loss because, in the early stages, you will inevitably make mistakes. Now there is only one way to avoid all these problems, and that is copy trading. Copy trading allows you to imitate the trading strategies of experienced traders.
There are a lot of platforms that offer copy trading services. One of these platforms is Coinmatics. In this article, we’re going to conduct an in-depth review of Coinmatics, through every aspect. Things that we will discuss in our Coinmatics review:
- Main features of Coinmatics
- How can you get started on Coinmatics?
- Pros and Cons of Coinmatics
Table of Contents
Without any further ado, let’s get started with this Coinmatics review.
What is Coinmatics – Overview
Coinmatics is an innovative copy trading platform that offers the latest trading tools and copy trading services. It is a great copy trading platform for not only beginner but also professional traders. The main feature that makes Coinmatics stand out is its advanced copy trading strategies.
It allows the users to copy the trading strategies of other experienced traders if they are someone who wants to invest or does not have any experience in crypto trading and want to play safe.
What you have to do is simply connect your exchange account with Coinmatics, choose and subscribe to a strategy from any trader you want, and get a profit. Experienced traders on Coinmatics are verified by the platform according to their former accomplishments, so there is lower risk.
Coinmatics also offer complete transparency to its users. You can track your performance and stop trading whenever you want. This platform also provides you with the complete stats of risk that might involve in a certain strategy.
Professional traders can also benefit from Coinmatics by offering their trading strategies. They will get paid in exchange for their strategies. Therefore, both investors and traders can gain profit from Coinmatics.
Main Features – What does this Crypto Copy Trading Platform Offer?
Copy Trading on Coinmatics offers users to mirror the trading strategies of experienced traders. Investors have to select the trader they want to follow and choose the trading method, automatic or manual.
- If the user enables automatic trading, all of the actions the trader is performing on his account are going to be automatically carried out on the user’s account.
- If the user chooses the manual option, he will be notified about the strategies the trader is performing on telegram. He will have to execute those strategies on his own.
The trader, as a result, will receive a commission in return for his strategies. In a nutshell, copy trading is favourable for both parties, as both receive their profit.
Crypto Arbitrage
Coinmatics gives its users insight into the price fluctuations across different exchanges throughout the market with the help of Crypto arbitrage. Users can get alerts by notification or by telegram group. It helps the user to stay updated on market trends and enables the user to make an informed decision.
Ticker Alert
Coinmatics enhances the transparency of the trading process through Ticker Alert. Ticker Alert is a notification mechanism that allows the user to track their progress. It notifies the user about the trading activities of their leader and gives them a sense of control over their trading.
Supported Exchanges
Coinmatics is set forth to add a variety of exchanges, but at this moment, they only support three exchanges:
- Bybit
- Binance
- OKEx
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However, this limited number of exchanges can result in restricting the prospect of many users.
Analytics
This feature allows the user to keep track of their trading history, transaction, daily activities, and regular update on their portfolio. It also enables the user to analyse the market from different aspects, such as Twitter analysis, price fluctuation, and fear and greed index. It again helps the user to make the right judgment in trading.
Referral program
Coinmatics also allows you to generate profit through its referral program. You just have to invite your friends to Coinmatics, and in return, you will get a profit from the platform.
Ease of Use
Coinmatics offers a very efficient and user-friendly interface. Apart from that, the actual trading process is a piece of cake on Coinmatics. You don’t require any trading or coding skills to handle it. However, you must be extra careful while choosing the trader you will follow in the future because even the tiniest mistake in this part can ruin your whole trading process.
Who is Coinmatics for?
Copy crypto trading is becoming one of the primary sources of passive income nowadays because it is designed to process on its own, and you don’t have to do anything. For this same reason, more and more people now prefer copy trading over traditional trading.
Similarly, Coinmatics is a reliable platform that offers copy trading. It is a platform for all; investors, beginners, experienced traders – you name it.
- For investors, Coinmatics is highly profitable because it gives them the opportunity to invest in proven trading strategies. These copy-trading strategies possess lower risk levels and ultimately ensure success for the investor.
- For experienced traders, Coinmatics allows them to share their trading strategies with others and make a profit in return.
- Last but not least, Coinmatics is also fantastic for newbies because it can give them all the expert support they need in their early stages of trading.
Why Choose Coinmatics?
When it comes to copy trading platforms, ultimate transparency is considered an essential element in the trading process as it allows you to analyse the complete performance history, risk metrics, losses, gains, and past trades of the trader you want to follow.
Coinmatics is one such platform, it not only gives you access to your trader’s trading history but also permits you to keep track of your own trading performance.
Coinmatics also feature a variety of experienced traders, so you can choose the one that suits you the best. In addition, Coinmatics provide ultimate security to your means. They claim that they do not have any access to your means, you can stop your trade and withdraw your money whenever you desire.
Furthermore, they provide satisfactory customer support for their free users as well. Hence, Coinmatics can be a great choice whether you are a beginner, investor, or trader.
How much does Coinmatics Cost – Pricing Overview
Coinmatics has four pricing plans that offer a variety of features according to their costs. Apart from that, Coinmatics require investors to pay the commission for the trading strategy they are following and telegram fees to their respected traders. Moreover, Coinmatics take their 5% commission on each trade from the trader’s profile. Now, let’s discuss Coinmatics pricing plans in detail:
Free
The free plan is completely free of cost. It has a limit of 1000 USDT max. USDT limit refers to the maximum amount of funds that can be allocated to copy trading activities. The free plan offers a couple of Coinmatic’s standard features. These features include:
- Spot Copy Trading
- Analytics Tools
- Ticker Alerts
- Portfolio Tracker
Lite
The lite plan contains all the features of the free plan with an addition of the feature of futures copy trading. It has a limit of 10000 USDT max. The price of this plan is 15$ per month, but if you plan to buy the yearly subscription of this plan, then it will cost you 10.5$ per month
- All the features of the free plan
- Futures Copy trading
Premium
The charges of the premium plan are 30$ per month and on a yearly subscription 21$ per month. The features of the premium plan of Coinmatics are given below:
- Unlimited USDT
- Lite Plan Features
- Auto Alignment, Coin Black List, Stop Loss
- Prioritised Copying
- Strategy Free Trial
Premium Ref
The premium Ref plan is a combination of the free and premium plans. The premium Ref plan is entirely free of cost. However, you can only avail of this plan if you have registered yourself on the exchange through the Coinmatics referral link. In addition, you can also get a discount on your trading fees on Binance. The features of the Premium Ref plan are as follows:
- Unlimited USDT
- Lite Plan Features
- Auto Alignment, Coin Black List, Stop Loss
- Prioritised Copying
- Strategy Free Trial
How to get started on Coinmatics?
Make an account on Coinmatics
If you want to get started on Coinmatics, you will have to make an account first. For that purpose, click the “Get started “ option on the top-right corner of the Coinmatics homepage. Now fill up all the details and complete the email verification process.
Afterwards, Coinmatics will require some more details from you, fill that up as well.
Connect your Exchange
Now that your account on Coimatics has been successfully created, you will have to Connect your exchange with Coinmatics in order to start copy trading. Click on the account section and select exchange account as shown in the image above.
Coinmatics will give you three options to choose from, so choose accordingly.
Generate your API key.
Lastly, Coinmatics will ask you to fill up your API and Secret key, fill that up, and your Coinmatics account will be ready to start copy trading.
Make sure that you fill-up the right information. If you want to join as a trader on Coinmatics, register yourself as a trader and adjust your commission accordingly.
What we like and dislike about Coinmatics – Pros and Cons
Pros:
- User-friendly interface
- Affordable pricing plans
- Standard features of Coinmatics are completely free of cost.
- Experienced traders are verified by Coinmatics.
- Two-factor authentication for ultimate security.
- API ( application programming interface ) is utilised to connect exchanges.
Cons:
- According to customer reviews, some users have encountered a lack of customer support.
- A minimum 50$ deposit is required to start copy trading.
- Coinmatics only support 3 exchanges.
Coinmatics Alternatives
If you don’t find Coinmatics suitable for your demands, we have also put together some alternatives that might accommodate you.
- CryptoHopper
- Bitsgap
- WunderTrading
- 3Commas
- eToro
- Kryll
FAQs
How Does Copy Trading Work?
Copy Trading is very simple. In Copy trading, you pay an experienced person to make a trading strategy for you. It helps you to make the right trading decisions, especially if you have no experience in this field.
How do I Choose the Best Trader for Copying?
Coinmatics provide you with detailed statistics of the trader’s past achievements, risk level, and total profit so that you can easily choose the right trader.
Is Copy trading profitable?
No one can guarantee that you will get profitable results from copy trading. Even though Coinmatics offer credible and verified trade, it cannot provide you complete assurance that you will get profit if you follow a particular trader.
Final verdict – Is Coinmatics legit or a scam?
To conclude, Coinmatics is definitely not a scam, and it is completely worth your time. It has revolutionised the way you can participate in crypto trading. This platform is a gem, particularly for novice traders, as it provides them with lots of learning opportunities.
We suggest you go through our Coinmatics review properly so that it can help you make an informed decision about whether you should choose Coinmatics or not.
