Estimated reading time: 8 minutes
This article will review phpTrader, a London-based company providing cryptocurrency arbitrage bots. It was incorporated on 15 December 2020.
phpTrader scans market price information from eleven exchanges to find the most optimal trading opportunities to maximize the returns. Also, they utilize capital gains to enable immediate arbitrage. The platform supports transactions for one thousand currency pairs.
Summary
phpTrader is an automated cryptocurrency trading platform that helps you to earn from arbitrage.
It is difficult to keep track of trading pairs at multiple exchanges manually. An automated crypto trading bot helps to track price differences and execute the transactions before the price changes.
They support eleven exchanges.
They offer three types of bots – Inter-exchange bots, Triangular Arbitrage bots, and Market maker bots.
You can customize the trading bots according to your requirements.
The deposits and withdrawals can be made only in BTC. They need to be exchanged to USDP for any further transaction.
phpTrader provides an easy to use interface.
They provide a different referral incentive program that affects your bot transaction fee, exchange fee, and withdrawal fee.
Why use phpTrader?
The price of an asset varies in different exchanges. Therefore, there are always arbitrage opportunities. You can buy the asset at a lower price from an exchange and sell it at a higher price in the same or different exchange. However, It’s a challenging task to keep track of prices at multiple exchanges simultaneously and perform transactions at the right time.
The price fluctuations were earlier managed manually, but now computerized trading systems monitor them and correct them in seconds. Therefore the profit-taking opportunities last only for a very short time. It is challenging to cope with transaction speeds and natural responses to a dynamic environment.
To compete with this, we need automated trading bots that support maximum exchanges, track immediate market benefits based on a pre-defined set of rules, and make decisions. The bots compare the prices of the supported trading pairs, and as soon as the price change is detected, the expected profits are calculated. If the platform can make transactions according to the results, they are executed immediately.
The bots do not guarantee a profit, but they work on a minimum loss prevention system.
phpTrader Review: Supported Exchanges
Binance
Bittrex
Coinbase
HitBTC
Huobi
Kraken
OKEX
Poloniex
Bitfinex
Bitpanda
Bitvavo
They use libraries to import real-time data, such as orders and prices.
Trading Bots
The AI trading bot analyses the trading frequency and market price fluctuations to find the best trading model.
phpTrader offers three types of trading bots.
Inter-exchange bots
This trading bot exploits the price difference between two crypto exchanges.
They buy and sell the assets immediately to take advantage of the price difference in the same or different markets.
Triangular Arbitrage bots
It is a low-risk trading bot, which scans prices for different currency pairs within an exchange and tries to exploit the price difference between multiple currency pairs.
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Market Maker bot
Market Maker bots used by top traders or liquidity providers. They have been designed to trade fast, efficiently, and generate revenue.
They place designated market price orders just outside the buying and selling prices. It helps you to benefit from the spread between two orders during the calculated period.
phpTrading Market Maker bots
Customization of Trading bots
phpTrader allows you to customize your bot settings according to your profit expectations, risk exposure, and other requirements. You can configure the following settings –
1.You can select a strategy.
They provide manual or external signals.
The stop loss can be activated or disabled.
You can select the number for follow-up loss.
If new goals are the same, asset retention functions can be equally activated or deactivated.
You can increase or decrease the maximum opening time.
You can set the minimum BTC per order.
phpTraderReview: Deposits
phpTrader only accepts BTC deposits. And you have to confirm twice to complete the deposit. If there is any change in the deposit address, they will notify you by email.
The minimum amount of BTC needed to make a deal depends on the exchange you select.
After you deposit, phpTrader deposits BTC as collateral and issues USDP, a corresponding token.
Additionally, the wallet shows the balance available in the investment order and investment funds.
Withdrawals
You can only withdraw BTC. The deadline for withdrawal is 13:00 UTC. Soon after that, phpTraderdeposits the BTC at your defined address. The withdrawals are handled through manual review. You can withdraw only once a day.
phpTrader Review: User Experience
phpTrader offers a user-friendly interface without any technical jargon.
The dashboard showcases the output logs of the trading bot to check their performance. It mentions all your investment details clearly. However, Statistics pages don’t update automatically, and a refresh is needed to see new values.
phpTrader Review: Security
phpTrader uses two-factor authentication (2FA) for additional security. You can choose from Google Authenticator and Microsoft authenticator for authentication.
The trading bots do not collect your private keys. Your funds are stored securely in the exchange.
Referral Incentives
If you refer the phpTrader to your friends or colleagues, you will receive a commission of the settlement revenue at the end of bot investment from them. The percentage paid depends on the trading bots volume.
The referred members will receive a discount of 5 percent for six months. The discount applies to all the contracts.
To maintain your referral status, your referred member should maintain an investment of at least $100 USDP.
Your benefits differ in the number of subscribers you have referred.
Fees
The transaction fee is charged when the investment settlement is complete. The bot fee is calculated according to your ‘Investment status.’
You can check yours in ‘Account Management’ under ‘Fee Benefits.’ Their benefits are divided into five levels.
Level Number of Referrals Bot Transaction Fee Exchange Fee Withdrawal Fee
1 >6 30% 0.5% 0.001 BTC
2 >4 35% 0.5% 0.001 BTC
3 >3 40% 0.5% 0.001 BTC
4 >1 45% 0.5% 0.001 BTC
5 >0 50% 0.5% 0.001 BTC
Depending on your rank, you will receive discounts on the exchange, bot transaction, and withdrawal fee.
The price at which the investment contract is settled is known as the settlement price. If the bot is working, the price includes unrealized gains and losses. The investment price determines the realized gains and losses, the checkout or settlement price, and the fees incurred.
Arbitrage can fail, depending on market conditions. Failed deals will not affect your investment position due to the asset liquidation (ADL) system; therefore, the transaction fee is high.
Customer Support
You can write to them at [email protected]. They are also available on Twitter.
phpTrader Review: Pros and Cons
Pros
It helps you in profit-taking by leveraging automated transactions.
It is easy to use.
High transaction speed.
Cons
It is a relatively new platform.
They provide limited customer support.
phpTrader Review: Conclusion
phpTrader is a crypto trading platform that offers automated trading bots. It is a challenge to arbitrage manually with computerized systems monitoring prices across all exchanges. Therefore we can use automated bots with elaborately designed rules to look for price differences between multiple market pairs and exchanges and perform the transactions before the opportunity goes away.
They support eleven exchanges and offer customizable trading bots. The user interface is easy to use. It helps to make a profit without manual interference.
Frequently Asked Questions?
is phpTraderlegit or safe?
phpTraderis a relatively new platform and you can check their registration here. However, we will suggest starting very small, until the platform gets a little reputation.
Should my system be on for the phpTraderto work?
No, phpTraderruns on the cloud.
Does phpTradersupport FIAT?
No, it doesn’t. phpTradersupports BTC deposits and withdrawals.
Which exchanges are supported by phpTrader?
phpTradersupports eleven exchanges – Binance, Bittrex, Coinbase, HitBTC, Huobi, Kraken, OKEX, Poloniex, Bitfinex, Bitpanda and Bitvavo.
How many types of bots does phpTraderoffer?
They offer three types of bots – Inter-exchange bots, Triangular Arbitrage bots, and Market maker bots.
What is the minimum deposit for phpTrade?
The minimum amount of BTC needed to make a deal depends on the exchange you select.