TradeSanta Review

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Contributor, Benzinga
Updated: June 16, 2022
TradeSanta
Best For
  • Automated investors
securely through TradeSanta's website
1 Minute Review

TradeSanta is a cryptocurrency trading platform that seeks to simplify crypto trading using customizable bots so that investors can enjoy the benefits of automated trading without the steep learning curve involved in trying to program bots from scratch.

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Best For
  • Beginner crypto or automated investors who want to hit the ground running and learn as they go.
  • Intermediate to advanced traders who know crypto markets and know how to design strategies but just want a tool that does the actual bot-programming for them.
Pros
  • A simplified process for programming a bot with your custom indicators and parameters
  • Clean, simple dashboard that makes it easy to monitor performance, make adjustments, and monitor your portfolio
  • Affordable, tiered subscription plans
Cons
  • Free trial lasts just 3 days

TradeSanta Ratings at a Glance

Products and Services
Pricing
Customer Service
Mobile App
User Experience
Security
Overall Rating

With TradeSanta’s cryptocurrency trading software, you can use automated investment tools to trade crypto around the clock, without needing to treat trading like a full-time job. The cloud-based platform connects to your exchange and places orders on your behalf, based on your custom criteria that you set. This makes automated trading as simple as making a few clicks and you can check in or make changes from wherever you are, whenever you want through the mobile app. Learn more about its platform and services in our TradeSanta review below.

TradeSanta Products and Services

TradeSanta is a platform where you can create, monitor, and adjust bots to buy and sell cryptocurrency on your behalf. It makes the process simple enough that you don’t need any computer programming skills to build the bot or to connect it to your preferred exchange. Here are some of the features that you’ll have while creating and monitoring your bot:

Grid and DCA Bots

Grid and DCA are two crypto trading strategies. A Grid bot treats every order separately. That is, if one order buys X quantity of coin, the bot will trigger sell orders for the same quantity when your sell indicators are met. A DCA bot, on the other hand, will sell the full quantity from all your buy orders in one go.

DCA bots are great for volatile markets when you want to make sure you fully exit a position as soon as your take profit is reached. Grid bots are better for more stable markets or when you expect to make frequent readjustments to your portfolio.

Extra Orders

Extra orders is a tool you can use when a trade you entered doesn’t go your way. This allows you to buy (or sell) additional coin at the current price so that you can turn this losing trade into a winning one (or at least less of a loser). The idea here is that when you increase the size of your position, it’s easier to make a profit on smaller changes in movement. Conversely, if you sell part of your position, you limit your losses if the trend continues.

Long and Short Strategies

Bots can be programmed for both long and short trading strategies. Long strategies are any trading strategy where you buy a coin with the expectation that value will go up. Short strategies are those where you sell a coin with the expectation that the value will go down and you can buy it back at a cheaper price later (thus pocketing the difference in price from when you sold). 

Still confused? Here's a short video on long And short Strategies. 

Technical Indicators

You can use several different technical indicators for your bot, including relative strength index (RSI), Moving Average Convergence Divergence (MACD) and Bollinger signals. An indicator is a movement in the price or trading volume of a trading pair that signals the bot to enter (or exit) the market. 

This can be a target price point, a specific trend in the price’s movement (like increasing by a certain percentage for a certain length of time) or changes in trading volume. You set your entry and exit points and your bot automatically places buy or sell orders when those indicators are spotted.

Stop Loss

A stop loss is a parameter you can program into the order that your bot places. To protect against major losses, this stop loss will trigger a sell order if the price drops more than you’re comfortable with. It’s especially helpful in volatile markets like cryptocurrency.

TradeSanta Pricing

TradeSanta offers subscription packages at three different price points. The difference between the packages is solely based on the number of bots you get. All the other features of the platform are available to subscribers at every level. So, you really just need to decide how many trading pairs you want to trade (because each bot is assigned to a specific trading pair). 

The pricing for each plan is as follows:

  • Basic Package: $15 per month
  • Advanced Package: $27 per month
  • Maximum Package; $35 per month

The basic package is ideal for most investors and traders, offering access to 49 bots, an unlimited number of trading pairs, all strategies and telegram notifications. For more advanced traders, the advanced plan may be suitable; offering access up to 99 bots, unlimited number of pairs, all strategies, TradingView signal integration and a trailing take profit. Lastly, for seriously devoted traders, TradeSanta offers a maximum package which includes custom TradingView signals, an unlimited number of bots, an unlimited number of pairs, and trailing take profit, among others.

You can sign up for a free 3-day trial. While this will allow you to get inside and take a look around at the dashboard and tools, it’s not really enough time to get a feel for the platform. Since the trial is short, make sure to sign up for it during a 3-day window where you know you’ll have extra free time to explore the platform and really dig in, so you’ll know if you want to commit to a paid plan. 

Customer Service

Overall, TradeSanta users are happy with the support they receive. TradeSanta provides in-platform support via live chat where they are usually quick to respond. You can also take your questions to the TradeSanta Telegram group which is very active. Finally, you can reach out via the customer support email team@TradeSanta.com.

TradeSanta Mobile App

The mobile app offers all the same tools and features as the desktop dashboard but in a mobile-friendly interface. Each active bot has a dedicated “bot card” where you can check its performance and make any tweaks to its parameters and indicators.

You can also monitor your full cryptocurrency portfolio, create new bots, manage your subscription plan, and more. It’s just as simple and easy-to-navigate TradeSanta via the mobile app as it is via desktop. So, you can choose your preference or seamlessly switch between both.

User Experience

Overall, the dashboard and the mobile app have a clean, simple layout that’s easy to navigate. 

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You can check on and modify all your active crypto trading bots, create a new bot, see your total balance, and other key tasks, right from the main dashboard.

While TradeSanta’s interface does a great job of simplifying automated trading, it is still automated trading. That is, programming bots and setting up a profitable automated trading strategy takes work. For complete beginners, it’s worth doing a little research ahead of time so you have a strong command of the basics before you start creating your first bot.

Fortunately, you can find a lot of educational resources on the company’s website. We recommend reading through the TradeSanta Glossary, the FAQ page, and the TradeSanta blog to learn more about cryptocurrency markets and automated investing.

TradeSanta Security

While trading cryptocurrency carries risk, the TradeSanta platform itself is very secure. It uses two-factor verification for logging in and, the API key you paste into your exchange account only grants trade permissions, not withdrawal permissions. That is, TradeSanta bots can place orders for you but they can’t withdraw funds from your exchange account. 

TradeSanta Overall Rating

It’s clear from the interface and features of the TradeSanta dashboard that this tool was developed to make advanced automated cryptocurrency trading as simple as possible. Investors can program profitable bots, even if they have zero programming experience. TradeSanta best suited to investors with experience trading crypto and developing manual trading strategies who just need a tool that handles the programming side. Those who are new to the world of crypto or high frequency trading may need to spend some time studying TradeSanta’s many educational resources before creating their first bot.

TradeSanta vs Competitors

As the market for automated investing tools grows, competition is getting fierce but TradeSanta is staying ahead of the pack by offering affordability, simplicity, and top-notch support for their users. Here are some of the benefits that make TradeSanta unique in the automated crypto trading space:

  • Affordable packages, including a robust basic plan that offers unlimited trading volume and trading pairs. 
  • Responsive, friendly customer service, including live chat built into the mobile app so you can ask questions and get support quickly.
  • Advanced automated investing made simple via user-friendly interface and a clean, straightforward dashboard.
  • Educational resources for beginners

Frequently Asked Questions

Q
How do I start with TradeSanta?
A

Once you sign up for a plan (or the free trial), here’s the step-by-step you’ll follow to start trading crypto with the platform: 

  1. Connect TradeSanta to a cryptocurrency exchange. If you already have an account in a supported exchange, you can do this by generating an API key and pasting it in the exchange’s account settings. If you don’t have an account, create a HitBTC on TradeSanta. You can do this in just one click.
  2. Choose the pair of currencies you want to trade. 
  3. Choose your strategy, using the Trading View graph and price parameters to help you decide. This is where you’ll set a stop loss, take profit, and other details for your bot.

That’s it! Once you created your first bot, you’re ready to let it start trading. 

Q
How does a TradeSanta bot work?
A

Investors program their own customer parameters and indicators into an algorithm (the bot). Indicators are movements in price or volume that trigger a buy or sell order. Your bot will constantly monitor the trading pair you assigned it to for those indicators (i.e.- when the pair is trading at the right price, at the right volume, or moving in the right direction based on what you programmed it to look for).

The parameters define the details of the order that gets placed when your bot detects an indicator. This is where you set the amount to buy or sell, the take profit level, the stop loss, and other criteria for the actual trade itself.

 

To explore TradeSanta you may checkout TradeSanta youtube channel that will help you to get started with automated trading. Sign up and create your first bot with TradeSanta.

Q
Can you make money using TradeSanta?
A

You can certainly make money using TradeSanta, but it’s not guaranteed you’ll be profitable just from using the trading platform. That being said, TradeSanta’s tools can save day traders tons of time and give them an edge over traders that execute trades manually.

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