In the world of crypto bots, every new addition is welcome. Each new candidate for top-performing bots is a sign that the industry is growing and developing.
Apex Trader is a relative newcomer to the stage but already claims the top in the name of its platform.
How does it fare? Is it ranked at the peak or more near the bottom? Let’s provide a detailed analysis.
Crypto trading bots are a lucrative method of conducting trade on crypto exchanges and as such attract a great number of trading enthusiasts.
In fact, the interest is so great that even the people with little to no experience in coding and/or trading flock to emerging crypto trading bots in hopes of striking gold and earning money automatically, with no manual intervention.
Apex Trader Review 2023
Is it possible to earn money with crypto trading bots?
Yes, of course it is!
In spite of not requiring substantial investments of time and money, it is indeed possible to earn an income from trading cryptocurrency. However, there are various bots out there with extremely diverging levels of efficiency.
Some bots do work and they work extremely well. Some bots have useful functions but require extensive tweaking and customization in order to land a profit.
Some, however, simply don’t work or only pose as bots while actually being scams in disguise.
Instead of being taken for money-making machines, crypto trading bots should be understood as tools. Without proper instructions, maintenance, and expertise the quality of the bot won’t matter much and you’ll most likely stand at a loss.
That said, the quality and purpose of a bot can make a gigantic difference. If you wanted to dig a hole in the ground, what would you think were better for the job: a hammer, a spade, or a drill? Exactly.
The question for today is this: how effective as a crypto trading tool is Apex Trader?
Can it help you automate your trading and earn you money on its own?
Is it really the apex of the crypto trading industry?
Or is it yet another lukewarm attempt at profiting on an influx of eager and naive rookies?
Today’s review is going to try and provide us with the definitive answer.
What is Apex Trader?
Apex Trader is a crypto trading bot hub that provides its clients with a means to automate their engagements in trading and optimize their crypto exchange profit potential.
Its software utilizes bots that can rely on multiple different trading strategies, and it covers several cryptocurrency exchanges such as Binance, ByBit, KuCoin, and Kraken.
Apex Trader is among younger crypto trading platforms, becoming available as late as April 2018. It is based in Cambridge, UK, which is useful information when considering the UK’s relatively tight regulations on digital security.
This is especially appreciated since Apex Trader is web-based instead of being accessible via an app on your own device.
The pitch places Apex Trader as a multi-functional tool with more than 100 technical indicators and other tweakable gauges that can be used to make customized bots with personalized strategies. If you have the knowledge and experience to do it, that is.
Although their software comes crammed to the top with lots of technical details, the Apex Trader developers have put effort into making their software that bit more accessible.
While it still remains a bit convoluted and overly complex, especially for rookie crypto traders, it has a functional and intuitive GUI that can help users navigate the numerous aspects of this trading bot. But more on this below.
Ease of Use
In our reviews, we keep mentioning how crucial it is to maintain equilibrium between simplicity and complexity in crypto trading bots.
Make a bot simpler than necessary and you’ll get many more users but at the same time, you’ll drastically reduce the performance and customizability of your bot. Make the bot too complex and you’ll get a perfect tool that only a handful of users around the world will be able to use.
Apex Trader does not maintain this fragile balance.
While there are efforts to make the software more approachable to the less-proficient users with GUI and simple visual solutions, the sheer amount of options that just get dumped down on users can distract them and make them less motivated to explore its functions.
The devs have tried to bridge the gap between the beginners and their experience-demanding bot by integrating the community and allowing them to share their codes among each other.
While this helps, it doesn’t solve the obvious issues, especially since the community of Apex Trader is still small and underdeveloped.
Apex Trader is a demanding software.
Unless you already have exhaustive knowledge of crypto trading bots and/or programming skills or have a burning desire and lots of time to spare on learning them, you should probably be looking for alternatives.
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With pricing, there’s some good and bad news.
Let’s start with the good news. You don’t have to immediately pay for Apex Trader crypto trading bot.
There’s a 7-day free trial during which you can test the performance of the Binance, Kraken, and KuCoin trading bot package. Afterward, the subscription fee is £30 per month.
Alternatively, you can obtain the Mako (Margin) bot for market-making and scalping on ByBit. This doesn’t come with a free trial and costs £60 per month.
It does seem peculiar that these two plans do not cover the same exchanges. Depending on your needs, you’ll have to get one, and, sadly, the price-features ratio is not the only factor in this decision.
The bad news is that these make for the priciest packages in the same range of capabilities online. We find that these outrageous prices are not based on a real difference in performance between Apex Trader and some other options in the same category.
For example, both Bitsgap and Quadency offer some better solutions and bots for almost half the price!
At first glance, Apex Trader has an impeccable reputation. With an average score of 4.5/5 on TrustPilot, they seem pretty okay.
However, a more detailed investigation finds that most of the 15 reviews posted come from users that have reviewed only Apex Trader and nothing else.
This is usually a red flag that points towards purchased reviews and marketing efforts that have little foundation in reality.
This is indicative of Apex Trader’s insignificant online presence. When there are few voices that spread the brand, it doesn’t matter if all those voices are positive.
Apex Trader may be a young company, but their crypto trading contemporaries have already amassed quite a few followers and satisfied clients. What was the problem with Apex Trader, then? Bad service? Extravagant prices? The unnecessarily high complexity of use?
In any case, Apex Trader hasn’t managed to leave a mark on the crypto trading bot community enough to be known and reputable. Too bad.
Saying that Apex Trader doesn’t work wouldn’t be right.
Implying that Apex Trader is a scam in disguise would be a lie. There’s not much evidence for that.
However, there’s not much evidence that it’s good at what it does either. With too small a community, too complex trading mechanics, and absurdly high prices, we simply don’t know.
Why should you risk using some unverified bot when there are tried-and-true options that are proven to be effective and that come in at nearly half the price?
Why risk with Apex Trader? Here’s the first crypto trading lesson in practice: avoid all unnecessary risks when you can get the same benefits in other, simpler ways.
Choose smart and good luck trading!