RevenueBot trades cryptocurrencies on its cloud-based trading platform and allows traders to sell their systems in the marketplace. The variety of algorithms available on the interface is customizable and can be backtested for up to 60 days. The website follows a profit-sharing mechanism where the costs are only incurred when the account goes in the plus. To understand more about its features, we will go through each corner of the platform in detail in our review.
First RevenueBot quick summary
RevenueBot provides full trade statistics on the performance of the expert advisors. There are 12829 algorithms available, and each transaction is made public on the traders’ account balance. This table will point out the benefits and demerits of using this algorithm.
|Automatic cloud-based trading||20% commission on profits|
|Ready-made algorithms are available to purchase on the marketplace||Backtesting and live records are not public|
|Based on martingale betting system which can be risky|
|Ease of Investment:||4/5|
What is RevenueBot?
RevenueBot auto trades multiple cryptocurrencies and can do it on various exchanges at one time. Traders can save their optimized set files and use them on other algorithms. For complete beginners, trading signals are at hand that will automatically copy trades from other investors onto their portfolio.
How does RevenueBot generate profits?
Multiple trading strategies can be configured according to your liking and optimized in the backtests. The platform uses averaging and martingale approach, which places subsequent orders with increased lot size in the initial direction of the losing trade. For fulfilling the balance requirements, it offers trading leverage of up to 1:125 for most crypto pairs.
Safety and security
RevenueBot uses API keys to connect to your exchange and trade your funds. It does not have any withdrawal rights. The website states that traders need to gauge the risk management on their own in order not to receive a margin call on the account. Traders need a minimum of $300-400 in their account balance as recommended by the developers.
How RevenueBot’s pricing works
RevenueBot follows a commission-based approach that deducts a 20% commission on each profit. The maximum deduction is capped at $50 in Bitcoin each month.
After the first profit split, the account balance will become negative, and traders will have three free days to use the bot and decide if they want to continue with it in the future.
RevenueBot supports the following cryptocurrency exchanges:
- Binance Future etc
How long has RevenueBot been in business?
There is no information on the year the platform went live for the general community. The headquarters of the company are located in A-5802-66, Flamingo Villas Ajman, UAE.
How to get started with RevenueBot?
To get started with RevenueBot, traders have to complete their registration on the website. Afterward, choose the cryptocurrency pair and create an API key on your exchange. Set up the bots settings within its interface and turn it on.
Other than the knowledge-based documentation on the website, the platform is not clear on customer support. There are no live chat or ticket services available at the moment.
Client feedback is present on TrustPilot, where the company has a total rating of 4.8 for 122 reviews. A trader comments that they have used the service for over a year and have not incurred any critical error as of now.
RevenueBot is not transparent on its live or backtesting records. The platform uses martingale and averaging, which can cause a margin call on the portfolio if the market moves in one direction with momentum. A profit split of $50 can be high for traders who have low balances in their portfolios.
User Interface: 7/10
Supported Exchanges: 9/10