Coinmatics Review – How To Use This Crypto Copy Trading Platform
Torsten Hartmann
Copy trading has become an increasingly popular way for crypto investors to leverage the knowledge and experience of seasoned traders. Coinmatics is one of the players in the crypto copy trading space that aims to make copy trading accessible for beginners and experts alike.
In this Coinmatics review, we’ll take a look at what exactly copy trading is, the key features of the Coinmatics platform, how to use it to copy expert crypto traders, an analysis of its advantages and disadvantages, and ultimately whether it’s worthwhile for crypto investors looking to get into copy trading. With crypto markets as volatile as ever, copy trading offers a way to tap into proven trading strategies rather than reinventing the wheel yourself.
| Topic | Description |
|---|---|
| 💼 Coinmatics Overview | A fintech company that provides an online cryptocurrency advisory service, enabling users to invest in cryptocurrencies responsibly. It allows clients to set up, allocate, diversify, and monitor their portfolios while maintaining total ownership and control. Coinmatics is also a social crypto copy trading platform that facilitates profits from the crypto market by allowing investors to copy profitable traders and strategies. |
| 🔁 Utility | – Copy trading: Allows users to follow the trading strategies of successful crypto traders. – Crypto arbitrage: Helps traders conduct arbitrage trading across various exchanges. – Analytical tools: Provides tools for professional traders to analyze market trends. – Ticker alerts: Sends alerts about market movements. – Portfolio tracker: Helps users monitor their investment portfolios. |
| ✅ Pros | – Suitable for both beginners and professionals. – Offers over 30 strategies for copy trading. – Provides analytical tools for professional traders. – Efficient technical support. – Encourages the use of two-factor authentication for account security. |
| ❌ Cons | – Lack of futures and margin trading. – Few user reviews on the internet. – Minimum deposit of $50 to start copy trading. – Limited to BTC or USDT (TRC20) for deposits and withdrawals. |
| 🌍 Supported Countries | Russia, where the company is headquartered, supports English and Russian languages. |
| 💲 Fees | Coinmatics offers three pricing plans: Free, Lite, and Premium, with varying features and services. The Free plan is for users with limited experience or those who want to try the platform’s basic features. The Lite plan is for casual traders, and the Premium plan is for professional users and traders with large assets, offering all features in the Free and Lite plans plus additional services. |
| 📞 Customer Support | Offers 24/7 customer support in English and Russian. |
| 🔐 Safety and Regulation | Emphasizes security with encrypted data to protect user information and supports two-factor authentication for account protection. |
What you'll learn 👉
What exactly is copy trading?
Crypto copy trading is a method where individuals mimic the trading actions of a seasoned trader, referred to as the “copy leader,” by automatically executing the same trades in their own accounts. This approach enables participants to leverage the expertise and potentially successful strategies of experienced traders without needing to acquire or hone their own trading abilities. The primary aim of copy trading is to mirror the success of the copy leader’s trades, potentially leading to higher profits or minimized risks.
Key aspects of crypto copy trading include:
- Learning from Experts: This allows individuals to gain insights from the strategies of successful traders, offering a chance to benefit from their expertise.
- Risk Management: Copy trading provides an opportunity to spread risk over various assets and strategies, presenting a strategic approach to reduce overall risk exposure.
- Ease of Use: For novices, copy trading offers a simplified entry into trading by eliminating the need to understand the intricacies of the market. Followers can directly replicate the actions of veterans.
- Automation: The process often utilizes automation, ensuring that trades are executed promptly and efficiently in alignment with the copy leader’s activities, thereby saving time and reducing manual effort.
- Risk Consideration: While copy trading offers several advantages, it’s not devoid of risks. There’s always a possibility of losses, underscoring the importance of having a contingency plan and exercising caution in selecting whom to follow and which platforms to employ.
Coinmatics Features
Coinmatics main feature is copy trading. In addition to this, the other services are helpful to professional crypto traders.
The services include;
Ticker alerts, crypto arbitrage, and analytics.
Ticker alerts
They can be set up with custom parameters for them to receive immediate information once triggered.
All information is sent to a personal telegram account.
Coinmatics provides a lot of information concerning arbitrage trading from different exchanges to find the deals that have the highest spread. This platform provides signals about the most profitable deals for both manual mode and telegram
How Coinmatics Works
One thing about Coinmatics is that it provides plenty of profitable trading strategies alongside good traders’ performance.
Scenario No1: You are an investor/ copy trader
I. You should create your own account at Coinmatics.
II. Add an API key that will connect your Binance exchange account.
III. Click the “ start copying strategy” button and choose the best strategy to follow.
IV. You can now register yourself as a trader and set the commission that you will use for copying your deals and the telegram signal fees.
V. Trade further and get additional profit.
Scenario No 2: You’re a professional trader
I. Create a personal account at Coinmatics
II. Add an API key that will connect your Binance exchange account.
III. Register yourself as a trader and set the commission that you will use for copying your deals and telegram signal fees.
IV. Trade more and get additional profits.
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Performance and Security
To ensure security, one of the measures kept in place is that you cannot give your API key permission to withdraw.
This means that Coinmatics can not withdraw money from Binance. It only takes charges from the Coinmatics wallet.
Furthermore, Coinmatics displays the history of total and average profit, trading period, and many more for every strategy. The above feature gives you an upper chance to weigh the risk level of a particular strategy and decide whether to make a subscription or not.
It also has the two-factor authentication feature for enhanced security. 2FA should be enabled immediately after one registers on Coinmatics. Visit the security tab in your account settings to enable two-factor authentication.
Pricing
Coinmatics charges about 5% percent of the traders’ profit on the platform.
When they submit their strategies, they get a following from various investors, and from that process the crypto traders earn money.
In case the strategies have a commission, payment will have to be made by the investors at the end of the billing period. Coinmatics takes 5% of the payments.
Investors do not pay anything to the platform
The payments that need to be made are commissioned for the copy trading activities and of course the telegram subscription fees.
Note: the commission and fees go to the trader while 5% go to the platform.
You will also find that some trading strategies are free
Conclusion
Coinmatics is the premium deal for crypto beginners who are eyeing copy trading simply because the interface is user-friendly let alone having all the conditions necessary for its proper functioning.
Professional traders can however increase income by proceeding with the trade without bigger deposits or increase in risk.
FAQs
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