Due to an increasing number of people trying their hands at crypto trading for the first time, a race has begun for software that gets the complex process of making a crypto trading bot to fit in a streamlined procedure that even rookies can use.
CLEO.one is yet another attempt at doing precisely that. Does it work, though? Trading crypto is all the hype nowadays.
With an ever-expanding market, the global community starting to embrace crypto as legitimate currency, and the fact that you don’t really need that much to start rolling, it was kind of obvious that the new industry will become the digital gold rush.
That said, it’s not really enough to download a random piece of software, read a short manual, and start trading immediately.
Nothing prevents you from doing that, but sure is a one-way ticket to losing a whole bunch of cash!
As an answer to the growing population of crypto day traders who lack the expertise to code and run their own crypto trading bots, many companies have invested time and effort to craft trading terminals that reduce the amount of coding required to venture into cryptocurrency exchanges.
Some do the coding themselves, leaving customers with preset features that can’t be meddled with further, and others invent clever ways to “disguise” coding by creating functions and features that the users can implement themselves without them ever thinking that they’re actually relying on programming logic without necessary programming syntax.
Programming without programming sounds like a heaven for all those who, well, don’t know how to code but still want to get their share of the crypto trading pie, but such solutions in general lag behind sophisticated codes when it comes to performance on the market.
They’re either too slow, too general, too simple, or a combination of all these factors.
It is nightmarishly difficult to create a bot that balances the simplicity of use and complexity of performance. Did CLEO.one manage to do it?
It is the goal of today’s review to find that out. Stay tuned.
CLEO.one is a cloud-based crypto trading automation software that is designed to help users create their own crypto trading bots or use the existing templates as their own and use them to automate their cryptocurrency exchange activities.
In an effort to be as attractive to casual traders as possible, the CLEO.one have focused on creating a very user-friendly graphical user interface that is designed to guide users towards pre-existing strategies and tried-and-true trading methods.
Additionally, as a unique way of solving the “non-coders trying to code” issue, CLEO.one deals away with programming languages and allows its users to give rudimentary instructions to bots just by typing in plain English syntax.
In theory, novice traders without coding experience would feel more at home when not facing the seemingly unintelligible walls of text that exemplify a typical piece of written code.
With a couple more arrays of utility and quality-of-life improvement tools, CLEO.one puts additional emphasis on backtesting and paper testing, as well as basing their forecasts and predictions about future crypto market trends on actual research and insights gathering.
This is supposedly all done away from the eyes of users in order not to confuse them further.
Essentially, CLEO.one reduces the length and the amount of steps required to process daily trade activities.
In the end, the team claims that their 3-step process completely replaces the strenuous and laborious 15-step process that is less efficient, more time-consuming, and way, way riskier.
So, that’s the pitch, in any case. How does it fare when faced with reality?
Accessibility & Ease of Use
CLEO.one is all about getting the difficult parts of setting up crypto trade down to earth and accessible to the newcomers on the crypto trading scene.
The whole idea behind getting rid of the coding language and replacing it with regular English syntax serves the purpose of bridging the gap behind non-programmers and crypto trade. CLEO.one is designed with those with least experience in mind.
As good as it sounds when put like this, you can’t really “translate” programming syntax into everyday language or vice versa. If this were possible, there would be no need for programming languages in the first place.
You’ll still have to learn what parts of English syntax the service recognizes as instructions, which as a direct consequence has the downside of having to “learn the rules” without the maneuverability of programming languages.
Yes, you’ll have the easier path carved out for you in any case, but the overall performance of the bot made this way is below that of regular, hard-coded bots that your competition is likely to use.
After all, simple instructions can’t always express complex trade indicators and orders, or at least not as efficiently.
The GUI has to be mentioned here as a lot of effort has been put to make it clear, clean, and simple for the beginners.
Speaking in general, CLEO.one has a sound amount of stuff to offer for those freshly initiated into the trade, but experts and even intermediates will have to look elsewhere for their needs and goals.
The main feature of CLEO.one trading platform is its non-coding process of making bots in plain English.
It functions similar to coding with the analyzer taking into consideration approved key words only, such as BUY, STOP LOSS, TAKE PROFIT, etc. and disregarding other “non-essential” words.
The CLEO.one bots are data-driven, with various indicators, candles, fundamentals, data price charts and movements, and so on.
Trailing stop loss and take profit are also among the features, but the whole offer is otherwise made to cater to the needs of beginner-level scripts.
As a precaution, the users have a PANIC button at their disposal that allows them to immediately stop trading and pull out of markets in a single click. With extensive paper trading and backtesting, though, this doesn’t get to see much use.
Apart from crafting their own plain-English bot, users can make use of existing strategies that are cookie-cutter made to (hopefully) suit the general trends of the crypto markets.
These come from the service itself, but clients can put their own codes into circulation, as well as get those made by others if they still feel shaky about their own creations and strategies.
All in all, a basic package for a service that is oriented towards the very start of crypto trading careers, and it should be taken as such.
Every crypto bot’s potential is capped to the number, type, and popularity of its supported exchanges. It is of vital importance for a bot to have access to well-performing cryptocurrency exchanges, as everything else means little if a bot has few potential deals to make in the first place.
Exchanges supported by CLEO.one are: Binance, Binance US, Bitfinex, Bitpanda Pro, Coinbase Pro, and HitBTC.
CLEO.one is also used as a tool for trading equities and forex, with associated tools, strategies, and approaches, which is a bonus, but not that relevant to crypto traders, especially when their target audience is casual and beginner traders.
There are three pricing plans that you can opt for when choosing CLEO.one, and a qualified free option as well.
You get the qualified free account with Binance, HitBTC, and Bitpanda Pro, and it provides 10 real-time live/paper trading, 100 backtests, 3 rules per strategy, 3 assets per rule,, and the minimum trade interval of 15 mins.
The Starter plan comes for 69€/month and brings pretty much the same offer as the qualified free option, with the important difference of having a cap of 10 rules per strategy instead of 3 in the free plan.
The Trader comes for 199€/month and offers 50 real-time live/paper trading, 500 backtests, unlimited rules per strategy, 10 assets per rule, 10 real time paper trading, and the minimum trade interval of 1 min.
There’s also a Trader Pro plan that will cost you a whopping 349€/month but will remove most caps from the previous plans and allow for mostly uninterrupted trading.
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First we collated the user review data, then we performed our own tests to ensure 100% legitimacy of the bots.
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Security & Customer Support
Cloud-based technologies come with their own security measures and CLEO.one is no exception. As per the standards of the industry, CLEO.one does not have direct access to your wallets but uses API keys that require your permission.
Their website is secured, but strangely lacks the two-factor authentication which is largely accepted as the norm in the industry.
Customer support comes in the form of live chat and social media channels. It lacks live support, which is substandard.
The site hosts a number of guides, videos, and tutorials, but these tend to cover the basics only. CLEO.one is a relatively obscure software with a rather small online community, but you can at least hope to meet a kindred soul with a solution to your problems, right?
Although the idea is cute, switching code for plain English surprisingly does not solve many issues that plague software such as CLEO.one.
Too much simplicity harms the overall performance and puts a hard limit on the number of supported features for a crypto bot.
There are more potent alternative crypto trading bots. Bitsgap and Quadency, for example, have implemented beginner-friendly measures and approaches but maintained features for pros as well.
Bad news, CLEO. You’re outperformed. Better luck next time!
Security (api + cloud) – 100
Customer Support – 100