Coinrule Review – Is Automated Crypto Trading Feasible?

About Coinrule

Coinrule is a user-friendly platform for algorithmic crypto trading. With this software, you can easily define conditions and rules for when and how to trade. Coinrule’s system for creating rules is easy to understand and completely free of coding. While it doesn’t offer a huge range of triggers, the simplicity of this platform is a huge draw for cryptocurrency traders testing out automation for the first time.

Coinrule Pricing

Coinrule offers four pricing tiers. The Starter tier is free, but you can only trade up to $3,000 per month. You also only get a limited number of indicators to build rules around. This plan is a good option for trying out Coinrule before signing up for a paid plan.

The Hobbyist plan costs $29.99 per month and allows you to trade up to $50,000 per month. You can add two exchanges to your account, access a wider range of technical indicators, and create up to seven trading rules.

The Trader plan costs $59.99 per month and allows up to $300,000 in monthly trading volume. You can connect three exchanges, create up to 15 rules, and access all of Coinrule’s template strategies. This plan also includes monthly one-on-one training sessions and priority support.

The Pro plan jumps to a pricey $449.99 per month. The high cost reflects the fact that you get a dedicated server for your trade execution. There are no limits to how many exchanges you can connect, but you can still only create up to 50 rules at a time.

Coinrule Features

Coinrule offers a simple tool for creating automated trading rules. With this platform, you can create if-this-then-that style rules using a friendly interface with no coding involved. To get started creating a rule, simply select what exchange you want to trade on. Coinrule also offers demo trading so that you can test out an automated trading rule before setting it live.

Rules can be triggered by an event or simply on a timer. Coinrule offers a limited range of technical indicators, like RSI and moving averages, upon which you can base events. You get to select the timeframe and a simple conditional for whether the indicator is above or below a specific value or another indicator.

From there, you can add additional ‘if’ conditions in an and/or format or apply operators like ‘wait,’ ‘do not,’ or ‘then.’ The ‘wait’ operator can be used to allow time to pass, then re-check a trigger to see if it still exists. The ‘do not’ operator lets you ensure that a certain coin isn’t bought or sold no matter what other rules you have running. The ‘then’ operator enables you to enter orders or to move into another rule. There is also a ‘split’ operator that lets you define multiple paths from an initial condition.

The whole process of creating a new rule is surprisingly easy, if a little constricting. It would be especially nice to see a wider range of indicators, including more fundamental metrics, for defining triggers.

Once a rule has been created, you can track its performance over time. The platform tracks the profit and loss a rule has generated, how many times it has been triggered, and all trades resulting from that rule.

Template Strategies

Helpfully, Coinrule comes with more than 150 built-in rules that are designed around specific trading strategies. These don’t come with a ton of explanation, though, so it’s important to take a close look at what the trading rule is actually doing. 

The more significant problem is that there also isn’t data about how that strategy has performed on any specific coin in the recent past. This is surprising, since Coinrule should be tracking these strategies at all times within a core demo account. Unfortunately, you need to run these templates in your own demo account for several days at a minimum to see how they might perform on the coins you’re trading.

Coinrule Compatible Exchanges

Coinrule is compatible with a wide variety of popular coin exchanges, including:

• Binance
• Bitpanda Pro
• Bitstamp
• Coinbase Pro
• HitBTC
• Kraken
• Liquid
• Okex
• Poloniex

Coinrule Platform Differentiators

The main draw to Coinrule is that it makes the process of setting up automated trading rules incredibly easy. Not only is there no coding, but the system for creating if-this-then-that conditionals is intuitive and fast. It would be nice to see a much wider variety of fundamental and technical indicators introduced for rulemaking, but day and swing traders can do a lot with the limited selection that is available.

Another nice thing about Coinrule is that it works with a relatively wide range of popular crypto exchanges. You can choose which exchange to route your orders through, which is helpful for taking advantage of lower spreads of higher liquidity for specific coins.

What Type Of Trader Is Coinrule Best For?

Coinrule is best for day and swing cryptocurrency traders trying out automated trading for the first time. The interface is easy to use, and it doesn’t get into the weeds of strategy backtesting and optimization. That said, beginner traders should use caution since Coinrule doesn’t provide a ton of information about its templates or offer much insight into how a specific trading rule might operate under different market conditions.

While advanced traders could also benefit from the platform’s user-friendly design, it appears largely geared towards beginners. The lack of more complex technical indicators – or the ability to create your own indicators – can also be problematic for more advanced traders.

Pros

• Very user-friendly interface for creating trading rules
• Multiple operators including ‘split’ and ‘do not’
• 150+ rule templates to get started with
• Free version is good for low-volume traders
• Works with most popular crypto exchanges

Cons

• Very little information about templates’ performance
• No backtesting capabilities to evaluate trading rules
• Limited selection of fundamental and technical indicators