The Best AI Trading Bots 2024: A Detailed Comparison of the Top 9 Bots! (2024)

Artificial intelligence (AI) is transforming the world of cryptocurrency trading. AI trading bots have become invaluable tools for traders looking to improve performance, automate tasks, and capitalize on emerging strategies. But how exactly do these bots work, and are they worthwhile investments? This guide by Finestel explores the capabilities and limitations of today’s top 9 crypto trading bots.

What are AI Trading Bots?

AI trading bots are software programs that use complex algorithms to analyze market data and place trades on behalf of users. The bots can react to price changes, identify patterns, and execute strategies 24/7 without human intervention. They utilize technologies like machine learning and natural language processing to “learn” from data and improve over time.

Many bots also provide backtesting tools to assess the viability of trading strategies. Backtesting applies algorithms to historical data to simulate how a strategy might perform. This allows traders to fine-tune bots before risking real capital. Some platforms also support paper trading with virtual funds.

Today’s bots target various cryptocurrencies (Bitcoin, Ethereum, etc.) and asset classes (spot, futures, options). They connect via API to popular exchanges like Coinbase, Binance, and Kraken to place trades on behalf of users. Most focus exclusively on cryptocurrencies, while others support stocks and foreign exchange as well.

Do AI Trading Bots Work?

The question of whether or not AI trading bots work is a complex one. There is no doubt that AI can be a powerful tool for trading, but it is important to remember that no trading bot is a magic bullet. AI bots are still subject to market fluctuations and can make mistakes. However, when used correctly, AI trading bots can be a valuable asset for traders of all experience levels.

Categories of AI, Based on Capabilities and Functionalities

However, they are not all the same type of AI. There are different types of AI based on their capabilities and functionalities.

According to one common classification, there are three types of AI based on capabilities:

Artificial narrow intelligence (ANI): This is the type of AI that can perform a specific task or a narrow range of tasks at or above human level. Most of the current AI applications fall under this category, such as voice assistants, image recognition, and chess engines. All of the AI trading bots that you mentioned are examples of ANI, as they are designed or trained to trade certain crypto or forex pairs using specific algorithms or rules.

Artificial general intelligence (AGI): This is the type of AI that can perform any task that a human can do, across different domains and contexts. This is the ultimate goal of AI research, but it has not been achieved yet. Some examples of fictional AGI are HAL 9000 from 2001: A Space Odyssey, Data from Star Trek, and Samantha from Her.

Artificial superintelligence (ASI): This is the type of AI that can surpass human intelligence and capabilities in every aspect, including creativity, reasoning, and learning. This is the hypothetical scenario that some people fear or hope for, depending on their perspective. Some examples of fictional ASI are Skynet from The Terminator, Ultron from The Avengers, and The Matrix.
Underneath Narrow AI, one of the three types based on capabilities, there are two functional AI categories: 3

Reactive Machine AI: Reactive machines are AI systems with no memory and are designed to perform a very specific task. They do not learn from their experience or adapt to new situations. They only react to the current input and output. An example of reactive machine AI is Deep Blue, the chess-playing computer that beat Garry Kasparov in 1997.

Limited Memory AI: Limited memory AI systems have some memory and can learn from their past data or experience. They can use their memory to improve their performance or make better decisions. However, their memory is not permanent or comprehensive, and they still focus on a specific task or domain. An example of limited memory AI is Google’s self-driving car, which can use its sensors and cameras to navigate the road and avoid obstacles.

Based on this classification, most of the AI trading bots are likely to be limited memory AI systems, as they can use their historical data or signals to optimize their trading parameters or strategies. However, some of them may also be reactive machine AI systems, if they only follow fixed rules or algorithms without any learning or adaptation.

Examples of Narrow AI and Limited Memory AI Crypto Trading Bots

Narrow AI Trading Bots

• 3Commas
• Pionex
• CryptoHopper
• Trality
• TradeSanta
• Coinrule
• Learn2Trade Algo

These platforms utilize narrow AI bots designed to perform specific trading tasks or limited sets of tasks very effectively. The bots are trained on historical market data and use machine learning algorithms or predefined rules to identify patterns and make informed trading decisions automatically.

Limited Memory AI Trading Bots

• Quantum AI
• OKX

These platforms use more advanced AI that retains some memory of past data and market events. The bots can learn from previous experience to adapt and improve their performance over time. They utilize limited memory AI to adjust to new situations and evolving market dynamics. Both machine learning and deep learning algorithms are leveraged to optimize trading strategies based on accumulated experience.

The specific AI architectures vary across platforms based on design priorities and use cases. But both narrow AI and limited memory AI allow bots to automate and enhance most aspects of crypto trading.

The Best AI Trading Bots in 2024 (Top 9 Comparison)

In this section, we will compare the top nine crypto AI trading bots in 2024, based on their features, pricing, reputation, and security. We will also provide some tips on how to choose the best crypto AI trading bot for your needs.

3Commas

3Commas is a crypto investment platform that allows you to create and manage automated trading strategies. You can choose from prebuilt strategies or create your own using indicators, signals, and triggers. You can also connect your 3Commas account to TradingView and use its signals to execute trades. 3Commas supports over 20 exchanges, including Binance, Coinbase Pro, and Bitfinex. You can monitor your portfolio, track your performance, and adjust your settings from the web or mobile app.

Fees and Pricing

3Commas offers four subscription plans: Starter ($22/month), Advanced ($37/month), Pro ($75/month), and Custom (contact for pricing). The plans differ in the number of bots, strategies, and features that you can access. For example, the Pro plan allows you to use up to 200 bots, 50 strategies, and unlimited features, while the Starter plan only allows you to use up to 2 bots, 2 strategies, and limited features.

Reputation and Security

3Commas is a legit platform that has been operating since 2017 and has over 140,000 users. It has positive reviews from users and experts, and it provides security features such as two-factor authentication and encryption. However, as with any trading platform, there are risks involved and you should do your own research before investing.

Read more about 3commas Copy trading.

Pionex

Pionex is a trading platform that integrates 16 types of bots, including grid trading, DCA, trailing take profit, and rebalancing bots. You can use these bots to automate your trading strategies and take advantage of market fluctuations.

Pricing and Fees

Pionex executes bot trades directly on its own exchange, which has low spot trading fees of 0.05%. Pionex supports over 100 trading pairs, including BTC, ETH, USDT, and BNB. You can access Pionex from the web or mobile app, and you can view your bot performance, statistics, and history. Pionex is free to use, as it does not charge any subscription or commission fees. However, you need to have a minimum balance of $20 to use the bots.

Reputation and Security

Pionex is a legit platform that is registered in Singapore and has a license from the U.S. FinCEN. It has positive feedback from users and experts, and it provides security features such as cold storage, SSL encryption, and anti-DDoS protection. However, as with any trading platform, there are risks involved and you should do your own research before investing.

CryptoHopper

CryptoHopper is a platform that allows you to create or buy custom strategies from a robot marketplace. You can use these strategies to automate your trading on over 10 exchanges, including Binance, Kraken, and Coinbase Pro. You can also use CryptoHopper to backtest your strategies, paper trade with virtual money, and arbitrage trade between exchanges. CryptoHopper supports over 130 coins, including BTC, ETH, LTC, and XRP. You can access CryptoHopper from the web or mobile app, and you can monitor your portfolio, track your performance, and adjust your settings.

Fees and Pricing

CryptoHopper offers four subscription plans: Explorer ($19/month), Adventure ($49/month), Hero ($99/month), and Professional (contact for pricing). The plans differ in the number of bots, positions, and features that you can access. For example, the Hero plan allows you to use up to 500 bots, 500 positions, and unlimited features, while the Explorer plan only allows you to use up to 20 bots, 80 positions, and limited features.

Reputation and Security

CryptoHopper is a legit platform that has been operating since 2017 and has over 200,000 users. It has positive reviews from users and experts, and it provides security features such as two-factor authentication and encryption. However, as with any trading platform, there are risks involved and you should do your own research before investing.

Read more in our comprehensive guide on the top 12 crypto trading bots.

Trality

It is a platform that enables you to create your own strategies using a drag-and-drop rule builder or a Python code editor. You can use these strategies to automate your trading on over 10 exchanges, including Binance, Bitpanda, and Bitstamp. You can also use Trality to backtest your strategies, simulate your trades, and optimize your parameters. Trality supports over 100 coins, including BTC, ETH, ADA, and DOT.

Fees and Pricing

Trality offers four subscription plans: Free, Basic ($9.99/month), Premium ($29.99/month), and Pro ($59.99/month). The plans differ in the number of bots, backtests, and features that you can access. For example, the Pro plan allows you to use up to 50 bots, unlimited backtests, and advanced features, while the Free plan only allows you to use up to 2 bots, 10 backtests, and basic features.

Reputation and Security

Trality is a legit platform that has been operating since 2019 and has over 10,000 users. It has positive reviews from users and experts, and it provides security features such as encryption and API key protection. However, as with any trading platform, there are risks involved and you should do your own research before investing.

TradeSanta

[TradeSanta] is a platform that specializes in crypto futures trading with leverage of up to 200x. You can use TradeSanta to automate your trading strategies and take advantage of market trends. TradeSanta supports over 10 exchanges, including [Binance], [Huobi], and [OKEx]. You can also use TradeSanta to trade spot markets and use cloud software to run your bots. TradeSanta supports over 100 coins, including BTC, ETH, USDT, and DOGE. You can access TradeSanta from the web or mobile app, and you can monitor your portfolio, track your performance, and adjust your settings.

Fees and Pricing

TradeSanta offers four subscription plans: Free, Basic ($14/month), Advanced ($20/month), and Maximum ($30/month). The plans differ in the number of bots, pairs, and features that you can access. For example, the Maximum plan allows you to use unlimited bots, pairs, and features, while the Free plan only allows you to use up to 2 bots, 49 pairs, and limited features.

Reputation and Security

TradeSanta is a legit platform that has been operating since 2018 and has over 100,000 users. It has positive reviews from users and experts, and it provides security features such as two-factor authentication and encryption. However, as with any trading platform, there are risks involved and you should do your own research before investing.

Coinrule

Coinrule is a platform that offers a free plan with seven template strategies and a Binance paper trading suite. You can use these strategies to automate your trading on over 10 exchanges, including [Coinbase], [Kraken], and [Bitfinex]. You can also use Coinrule to create your own custom rules using a simple interface. Coinrule supports over 130 coins, including BTC, ETH, XLM, and LINK. You can access Coinrule from the web or mobile app, and you can monitor your portfolio, track your performance, and adjust your settings.

Fees and Pricing

Coinrule offers four subscription plans: Free, Starter ($29.99/month), Pro ($59.99/month), and Enterprise (contact for pricing). The plans differ in the number of rules, templates, and features that you can access. For example, the Enterprise plan allows you to use unlimited rules, templates, and features, while the Free plan only allows you to use up to 7 rules, 7 templates, and limited features.

Reputation and Security

Coinrule is a legit platform that has been operating since 2018 and has over 20,000 users. It has positive reviews from users and experts, and it provides security features such as two-factor authentication and encryption. However, as with any trading platform, there are risks involved and you should do your own research before investing.

Learn2Trade Algo

[Learn2Trade Algo] is a crypto and forex signals provider that offers a Bitcoin robot that trades 24/7. You can use Learn2Trade Algo to automate your trading on [Binance] and [ByBit]. You can also use Learn2Trade Algo to access live signals, market analysis, and educational resources. Learn2Trade Algo supports five crypto pairs: BTC/USDT, ETH/USDT, LTC/USDT, XRP/USDT, and BCH/USDT. You can access Learn2Trade Algo from the web or mobile app, and you can monitor your portfolio, track your performance, and adjust your settings.

Fees and Pricing

Learn2Trade Algo offers three subscription plans: Basic (£58/month), Standard (£78/month), and Premium (£98/month). The plans differ in the number of signals, features, and support that you can access. For example, the Premium plan allows you to access up to 25 signals per day, all features, and priority support, while the Basic plan only allows you to access up to 5 signals per day, with limited features, and standard support.

Reputation and Security

Learn2Trade Algo is a legit platform that has been operating since 2019 and has over 10,000 users. It has positive reviews from users and experts, and it provides security features such as two-factor authentication and encryption. However, as with any trading platform, there are risks involved and you should do your own research before investing.

Quantum AI

[Quantum AI] is a cryptocurrency trading software that automatically makes new trades on behalf of the user. You can use Quantum AI to trade some of the best crypto tokens, such as BTC, ETH, LTC, and XRP. You can also use Quantum AI to access a demo account, where you can practice trading with virtual money. Quantum AI claims to use advanced algorithms and artificial intelligence to analyze the market and execute trades. Quantum AI supports multiple payment methods, such as credit cards, bank transfers, and e-wallets. You can access Quantum AI from the web or mobile app, and you can monitor your portfolio, track your performance, and adjust your settings.

Fees and Pricing

Quantum AI does not charge any subscription or commission fees. However, you need to make a minimum deposit of $250 to start trading with the software. You can withdraw your funds at any time, but you may incur some transaction fees depending on your payment method.

Reputation and Security

Quantum AI is a dubious platform that has been operating since 2020 and has over 5,000 users. It has mixed reviews from users and experts, and it does not provide any security features such as two-factor authentication or encryption. Moreover, Quantum AI makes unrealistic claims about its accuracy and profitability, and it does not disclose any information about its developers or partners. Therefore, we advise you to be cautious and skeptical before investing with this platform.

OKX

[OKX] is a platform that offers multiple types of bots, including grid trading and arbitrage trading. You can use OKX to automate your trading on [OKEx], one of the largest cryptocurrency exchanges in the world. You can also use OKX to trade spot, futures, and options markets. OKX supports over 400 coins, including BTC, ETH, USDT, and OKB. You can access OKX from the web or mobile app, and you can monitor your portfolio, track your performance, and adjust your settings.

Fees and Pricing

OKX does not charge any subscription or commission fees. However, you need to have a minimum balance of $10 to use the bots.

Reputation and Security

OKX is a legit platform that is part of OKEx, which has been operating since 2014 and has over 20 million users. It has positive reviews from users and experts, and it provides security features such as two-factor authentication, encryption, and cold storage. However, as with any trading platform, there are risks involved and you should do your own research before investing.

Let’s try 1 month of free OKX copy trading.

Choosing the Right AI Trading Bot

When choosing an AI trading bot, there are a few things to keep in mind:

• Your experience level: If you are a beginner, it is best to choose a bot that is easy to use and has a good reputation.

• Your trading goals: What are you hoping to achieve with the bot? Are you looking to make a quick profit, or are you more interested in long-term growth?

• Your risk tolerance: How much risk are you comfortable taking? Some bots are more aggressive than others.

• Your budget: How much are you willing to spend on a bot? There are bots available at a variety of price points.

FAQ

Are Crypto Trading Bots Profitable?

The profitability of AI trading bots is another hotly debated topic. Some traders have reported significant profits using AI bots, while others have not been as successful. There is no one-size-fits-all answer to this question, as the profitability of an AI bot will depend on a variety of factors, including the bot’s algorithm, the market conditions, and the trader’s settings.

Is the AI trading bot legit?

AI trading bots are legit tools that can be used to automate trading strategies. They can be helpful for traders who want to save time and effort, or who want to take advantage of algorithmic trading strategies that they may not have the expertise to develop on their own. However, it is important to remember that AI trading bots are not a magic bullet, and they can still lose money if they are not used properly.

What is ChatGPT crypto trading bot?

ChatGPT is a natural language processing (NLP) model that can be used to generate trading strategies. Users can input their desired trading parameters and ChatGPT will generate a strategy based on that information. ChatGPT is not a traditional AI trading bot, as it does not execute trades on its own. Instead, it provides users with trading signals that they can then manually execute on an exchange.