WunderTrading Review: is it as beginner-friendly as it claims to be?

WunderTrading seems like a promising cryptocurrency trading platform with a variety of features that can be useful for both new and experienced traders. It is highly adaptable and customizable, executes precise trading strategies and supports popular cryptocurrency exchanges such as Binance, KuCoin, OKX, FTX, and Kraken. The platform’s key features include:

• Automated trading
• Copy trading
• Trading tools for technical analysis, charting, and risk management, such as charts, indicators, and news feeds to make more informed decisions.

Let us have a more detailed look at each of these features.

WunderTrading Automated Trading Bot

AI tools have the potential to revolutionize the way cryptocurrency trading is done. Some of them, like AI Fundevity bot, give users top-notch analysis without the need for coding skills. 

WunderTrading bots may not be so beginner-friendly, but they are a great tool for advanced users looking to implement their trade strategies. Once the bot is created, users can activate it to execute trades based on the pre-defined parameters, including the time frame, tradable pairs, and the exchange on which to execute the order. The users must also have a sound trading strategy in mind, as they are required to define entry/exit points, risk amounts, and stop-loss levels.

WunderTrading is integrated with TradingView, which means that users can create an alert bot with TradingView’s PineEditor and then turn it into a fully automated trading bot with WunderTrading. Thus users can backtest their trading bot strategies before letting them handle their funds.

WunderTrading bots offer a number of benefits, including:

• Automation, which can save traders a significant amount of time.
• Risk mitigation thanks to automated withdrawal parameters that can reduce risk.
• Market opportunity capture by automatically executing trades based on pre-defined parameters.
• Portfolio growth by automating the trading process and taking advantage of market opportunities even when users are not actively monitoring the market.

It’s important to note that users need to activate these bots, as they operate solely based on preset parameters for a specified cryptocurrency. It is also always crucial to keep the following in mind:

• Backtesting any trading strategy before using it in a live trading environment is essential to identify any potential issues and make necessary adjustments.
• It is important to have a sound risk management strategy in place when using WunderTrading bots. It should include setting stop-losses and take-profits.
• Monitor your bots regularly to ensure that they are performing as expected.

Copy Trading with WunderTrading

Copy-trading (aka mirror trading and shadow trading) means replicating and executing the trades of experienced traders with proven track records.

Ideal for crypto beginners looking for high-profit returns without the expertise or time to navigate market movements effectively, the Copy Trading tool enables users to mirror the actions of successful traders’ in real-time and seamlessly integrate their strategies into automated trading bots.

How does it work?

WunderTrading’s platform includes an in-built marketplace, which connects users with a network of experienced traders with a proven track record. Their trades are automatically copied to the accounts of all users who are following them.

Moreover, users can evaluate traders based on their profits/losses, percentage of profitable trades, trading volume, risk per trade, average time in a position, and even review a trader’s past and live positions for performance assessment. This adds to the tool’s transparency.

While the process of copy trading on WunderTrading is straightforward, it’s important to note that most users charge a monthly fee for mirroring their trades. This is an additional cost to be taken into consideration.

Conversely, users can register at the marketplace, opening an avenue to earn income from those mirroring their trades. This makes WunderTrading.com an attractive platform for skilled traders seeking additional revenue streams.

It is important to note that copy trading is not a risk-free investment strategy. Users should always carefully consider their risk tolerance before using copy trading. To reduce copy trading risks:

• Choose traders wisely
• Diversify your portfolio
• Set stop-losses
• Monitor your trades regularly

Other WunderTrading Tools

Cryptocurrency Portfolio Tracker

WunderTrading’s portfolio tracker provides investors with a transparent overview of their cryptocurrency holdings. It allows users to monitor their purchases, returns, and sales systematically. The tool can be populated manually or be connected to an exchange’s API for automated portfolio management.

Multiple Account Management

This feature allows traders to efficiently oversee trades across multiple exchanges simultaneously through a single device. It can be a valuable tool for those who need to manage multiple portfolios or want to take advantage of varying pricing on different exchanges.

With WunderTrading’s portfolio management tools, traders can seamlessly integrate several APIs into their accounts. Once the APIs have been added, users can select the exchanges they want to trade on and execute their trades concurrently on all selected APIs with a single click.

Arbitrage Trading

Arbitrage trading is a strategy that involves buying an asset on one exchange and selling it on another exchange for a higher price. To automate an arbitrage strategy, traders need to create a bot that defines the entry and exit points of the trade. Once the bot is created, users can select the exchanges they want to trade on, and it will automatically execute the trade when the price difference meets the set criteria.

As WunderTrading manages multiple crypto exchange portfolios concurrently, there is no need to execute strategies individually on each account through the terminal. The traders can thus capitalize on slight market price movements through arbitrage crypto trading.

Registration process and subscription plans

As is the industry standard, wundertrading.com requires all users to go through a verification process. Accounts without completed verification are limited to purchasing $300 worth of cryptocurrencies. Verified users get full access to trading features and services.

Membership costs vary from $0 for a free account to $89.95 for a premium account. Users can start with a free account and upgrade as needed, enjoying subscription discounts for longer-term commitments. As of October 2023, the offer is 30% off for 12 months. A 7-day free trial of the PRO plan (currently the most popular among customers) is also available.

Importantly, while basic registration is free, users must subscribe to a paid plan to access premium features such as bots and copy trading.

A minimum investment of €50 is required. Deposits can be made via debit or credit card or bank transfer. Commission fees apply for crypto purchases made on the platform, with the current rate set at $5 or 5% of the paid invoice. Withdrawals incur charges, such as a 0.0005 BTC fee for Bitcoin withdrawals, slightly below the industry average (0.0008 BTC).

A nice perk: WunderTrading offers a win-win referral program. Users can invite friends and earn a 20% commission on every purchase they make, while the referrals receive a 10% discount on any one-month subscription plan.

Reliability and transparency

On Trustpilot, the overall rating of Wunderbit.co, the related domain, seems positive with 4.2 out of 5 stars. Users highlight the platform’s ease of use, its user interface and the trading experience. However, some negative reviews express concerns about customer support and technical issues. It is crucial to note that the reviews on Trustpilot may pertain to Wunderbit.co, not Wundertrading.com specifically.

There is a certain lack of transparency regarding WunderTrading.com as the website features no information about the company founders or executives. ScamAdviser alerts that the identity of the website owner is hidden, which always causes suspicion. It is even quite tricky to find out that the company is based in Latvia, in fact, various online reviews give contradictory information that the headquarters are in Estonia.

Similar concerns (lack of transparency and unclear geographical position) often signal that a website is a scam, such as Atomic Trade. The difference is that Atomic Trade received two warnings from Canadian authorities, while there are no official warnings issued to Wunderbit SIA.

At any rate, it is important to bear in mind that there is no cryptocurrency trading regulation in Latvia. Therefore, the Financial and Capital Market Commission (FCMC) of Latvia, where the company is registered, cannot regulate its activities. For a particular case of how regulations work and what kind of issues traders may have with the regulating bodies, check out our TradeZero review.

The verdict

In summary, WunderTrading positions itself as an all-in-one platform, offering top-tier portfolio tracking and management functionalities. It also has a comprehensive help center, including various resources on its social media channels. However, costs can accumulate rapidly, as essential trading features, copy trading, and pre-created bots are only available with a monthly membership fee.

Overall, WunderTrading is a good choice for experienced traders who are looking for a customizable and feature-rich platform offering various automation tools. However, it may be less satisfying for beginners or traders who are on a tight budget.

Disclaimer: Always keep in mind that cryptocurrency trading is a risky investment, and users should always do their own research before investing any money.

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