hedgewithcryptohedgewithcrypto
AboutContact

    Gunbot Review 2023: Bot Features, Limits & Pricing

    Updated: Jan 1st, 2023
    Kevin Groves
    Kevin Groves
    Gunbot Review 2023: Bot Features, Limits & Pricing

    While the crypto market is constantly active, investors can only monitor trades for short periods. Gunbot solves this problem using preset trading strategies to execute positions across multiple cryptocurrency pairs and exchanges. Gunbot allows investors can create unique bots to enter buy and sell orders 24/7 using preexisting data and trading strategies. This Gunbot review provides an in-depth analysis of the trading robot's best features, how it works, and its pricing to help you decide if it's worth using.

    This post contains affiliate links with our partners who may compensate us. Read our disclaimer for further information.

    Our Review of Gunbot - Quick Verdict

    Gunbot is an ideal platform for crypto traders that want to automate aspects of their trading using built-in algorithms and bots. The platform integrates with 100+ exchanges, including industry giants like Binance and Coinbase Pro. Its pre-made bots, signals, and technical indicators are perfect for analysis the market and using automated strategies.

    However, like other trading bots, Gunbot is far from perfect. The crypto bot has some downsides, such as a difficult user experience for setting up a bot and placing trades. Due to the platform's complexities, it's more suitable for experienced traders.

    Visit Gunbot

    Gunbot Pros and Cons

    Gunbot's main feature is the automated cryptocurrency trading software, however, it is equipped with numerous features that help users make the most of their trades and profit 24/7. However, the platform has notable downsides, including its complicated interface that can make navigation somewhat challenging. We highlight the Gunbot pros and cons below.

    Gunbot Pros:
    • Supports API connectivity with more than 100 popular exchanges around the world, including Binance and Coinbase
    • Life-time license without any on-going subscription fees
    • Integration with TradingView for comprehensive backtesting
    • Gunbot simulator to test out custom trading bots using fake money
    Gunbot Cons:
    • Does not have a mobile app (not a cloud-based product)
    • The initial set-up and configuration of bots is complicated for newer traders
    • One-off licensing fee is paid in Bitcoin and will vary in fiat value

    Gunbot Overview

    Gunbot is a trading bot with in-built or custom trading strategies that can be automated. The crypto bot trading platform bridges the gap between crypto traders and exchanges, offering investors an easy and automated way to diversify investments and increase potential profits. Gunbot was founded in 2016 under the legal name Gunthy LTD. Since then, the platform has attracted thousands of active traders with its unified interface and single software that automates trading for investors.

    There are many features of Gunbot that we will explore in this review, which include pre-made bots, trading signals, and market analysis. There is also access to technical tools and trading strategy presets to make profitable trades by placing automated orders without the stress of constantly monitoring market trends and price swings.

    Gunbot bot trading platformGunbot bot trading platformScreenshot of the Gunbot trading platform with bots active.

    Apart from its pre-made bots, the platform supports beginners, intermediate, and advanced crypto traders with pre-configured indicators and a customizable bot script they can build from scratch using Javascript. With these, crypto traders can set trading conditions for the bots to help them trade faster and navigate market volatility better.

    Gunbot does not require traders to enter trades themselves. Instead, the trading bot executes buy and sell orders based on the preferred settings configured and ultimately carries out more efficient and profitable trades.

    PlatformGunbot
    Year established2016
    Supported ExchangesBinance, Coinbase, ByBit and 100 others
    Supported Trading PairsUnlimited
    Number of Trading Bots20 in-built bots with custom options
    Backtesting ModuleYes (via TradingView)
    Demo Exchange to Test BotsYes
    PricingFrom 0.0006 BTC (or $9.99) to 0.08 BTC
    Mobile AppNo (desktop application only)

    How Does Gunbot Work?

    Gunbot automates crypto users' trades via preset trading strategies and rules on the platform. Once a user has made a trading plan with a list of exchanges to trade on, they need to install Gunbot on their computers or mobile devices. Following installation, the trader must create an account by choosing login details, verifying ownership, launching the software, and entering API keys for the exchanges.

    Gunbot dashboard screenshotGunbot dashboard screenshotGunbot dashboard screenshot.

    To use a strategy, a trader must select one of the available crypto pairs and apply a preset or configure custom strategies with parameters to define how the bot will operate. Once the trading criteria have been configured, the bot will enter trades across multiple exchanges within these parameters on the chosen crypto pair (e.g. BTC/USD). Using the trading bot, investors can trade without opening multiple tabs or switching between different exchanges, unlike manual trading which can be time-consuming.

    Unlike many other crypto trading bots, Gunbot doesn't collect users' trading data as it runs as a client on the users' computers. That is, it is not a cloud-service so personal information is not transmitted over the Internet. The platform allows traders to connect with exchanges using API keys with secrets. That way, users' data are only stored on their devices.

    Review of the Top Features on Gunbot

    Diverse Buy & Sell Methods

    Using GunBot's trading platform, investors can execute buy and sell orders in over 20 ways. The platform allows users to combine any method into a custom trading strategy. For example, traders can configure the bot to create a buy order according to the lower Bollinger Band and sell them according to the trailing stop/stop-loss method.

    The possibilities to create automated bots to initiate buy and sell orders are endless. As it is highly unlikely for an automated bot to remain profitable in all conditions, users have the flexibility to make adjustments to their crypto bot strategy over time to improve profitability and adjust to market conditions. Other available buy and sell methods on Gunbot include:

    • Average Directional Index (ADX
    • Average True Range (ATR) Trailing Stop
    • Bollinger Bands – percentage distance from bands
    • Bollinger Bands – crossover
    • EMA spread
    • Emotionless
    • Gain, etc.

    Unlimited Trading Pairs

    Gunbot has no restrictions on crypto pairs, which is another major benefit. As a result, investors can install Gunbot with as many active pairs as they like which means the possibilities to find a market to test and implement bots are also unlimited. At the same time, traders can execute trades using a trading single pair across the supported exchanges, which is unique to Gunbot.

    Given the expanse list of supported exchanges, Gunbot is not limited to the spot market only and can be connected to leading crypto margin trading exchanges. The platform's bots can also be programmed to trigger on both margin and futures markets giving the ability to automatically hedge a portfolio.

    Selection of trading pairs on GunbotSelection of trading pairs on GunbotSelection of trading pairs on Gunbot.

    DCA and Reversal Trading Bots

    Gunbot's DCA crypto bot automatically averages the price of an asset when its price drops after a buy order. The benefit of using a bot with DCA is that users can make a lower profitable exit instead of losing all the funds invested in that particular trade. This is a popular trading strategy that will suit beginners and retail investors.

    Reversal trading (RT) is another notable Gunbot feature. The technique aims to make more profit even when the market realities are unfriendly. When using Reversal Trading on Gunbot, the bot keeps on trading profitably when an asset’s price reduces after it has been purchased.

    Basically, the bot uses traders’ existing buy orders to accumulate more units of the quote currency after prices have moved downwards. So, when a coin price keeps dropping or going sideways at a lower level than the initial order, the bot can keep accumulating profits by continuously buying and selling. When the price rises, it sells the accumulated amount for profit.

    Backtesting Add-on

    There are many add-ons and extra features that users can benefit from using Gunbot, and backtesting is one of them. Backtesting involves testing the potential market performance of a coin based on its historical data. On Gunbot, backtesting happens using the popular crypto screener, Tradingview. It is a powerful platform to backtest and visualize tested trading performance.

    Gunbot backtesting data and graphsGunbot backtesting data and graphsGunbot backtesting data and graphs.

    Once integrated into an exchange, users can use this feature to assess historical data and predict trades using any of their dynamic GRID trading and other trading strategies. This is almost a mandatory feature that should be offered on all crypto bot platforms. Gunbot's backtesting mode will benefit users to test the bot's profitability before using it on the real market. Moreover, there is even a crypto simulator account with virtual funds.

    Multi-Platform Compatibility

    The Gunbot website and built-in tools can function on multiple computer platforms and operating systems. The app can run on ARM, Windows, mac OS, or Linux-based devices. That means users can access the platform from any computer because the software is not particularly licensed for any specific device. However, Gunbot is not cloud service based so the application can only function on the user's computer which means its accessibility is limited.

    In addition, the software download and updates are free. A computer with 2GB RAM storage, 10GB free disk space, and a 64-bit CPU is required to run the bot.

    Telegram Integration

    Another notable feature of Gunbot is its Telegram integration. Apart from its Telegram community, Gunbot users have access to one of the most unique add-ons on the market. On Gunbot, professional traders can connect the trading platform to their Telegram accounts to interact directly with their bots or monitor their actions. Supported Telegram features include:

    • Track Profits - to get a profit and loss breakdown for all pairs
    • Modify Settings - to enable or disable trading pairs on the go
    • Monitor Trades - to easily view all trading actions and filter by pairs.
    • Get Notified - to receive push notifications for every trade the bot executes.
    Gunbot Telegram integration screenshotGunbot Telegram integration screenshotGunbot Telegram integration screenshot.

    Gunbot Comparisons and Alternatives

    Gunbot delivers on its promises as a community-made crypto trading bot, however, there are certain limitations that will deter beginners in particular. Worthy alternatives that include in-built automatic trading bots with a simpler user experience include Pionex, KuCoin X, and Coinrule.

    ExchangeCrypto AssetsTrading FeesRatingPromotionWebsiteReview
    KuCoin

    KuCoin

    700+0.1%
    RatingOur ratings take into account the ease of use, fees, deposit methods along with the exchange's reputation. All ratings are determined solely by our editorial team.
    4.6/5
    StarStarStarStarEmpty Star
    Up to 500 USDT in bonusesVisit KuCoinKuCoin Review
    coinrule

    Coinrule

    N/ANone
    RatingOur ratings take into account the ease of use, fees, deposit methods along with the exchange's reputation. All ratings are determined solely by our editorial team.
    4.5/5
    StarStarStarStarEmpty Star
    None available at this timeVisit CoinruleCoinrule Review
    pionex

    Pionex

    480.05%
    RatingOur ratings take into account the ease of use, fees, deposit methods along with the exchange's reputation. All ratings are determined solely by our editorial team.
    4.4/5
    StarStarStarStarEmpty Star
    20% trading fee discountVisit PionexPionex Review
    cryptohopper logo

    Cryptohopper

    Over 1,000N/A
    RatingOur ratings take into account the ease of use, fees, deposit methods along with the exchange's reputation. All ratings are determined solely by our editorial team.
    4/5
    StarStarStarStarEmpty Star
    None available at this timeVisit CryptohopperCryptohopper Review

    Gunbot Interface & User Experience

    Based on our Gunbot review, the platform appears relatively complex. Beginners may have difficulty adapting to the platform initially, but experienced users will become more comfortable with the app over time to get the most out of it.

    However, the intuitive and powerful interface provides users with a single platform to configure bots, connect exchanges via APIs, select a pair to trade, enter trading orders, carry out all trading activities, and manage trading pairs. Users can also customize the bot to receive trading alerts via TradingView.

    Configuring TradingView alerts within GunbotConfiguring TradingView alerts within GunbotConfiguring TradingView alerts within Gunbot.

    Once accustomed to the platform, we found that configuring bots and entering orders was seamless on the Gunbot trading terminal. It simplified the monitoring of trades by showing all trading pairs and investments across different exchanges in one place, eliminating the need to open and scan various assets.

    Gunbot daily P&L and recent tradesGunbot daily P&L and recent tradesScreenshot of Gunbot daily P&L and recent trades.

    In addition, investors can evaluate the performance of cryptocurrencies and trading pairs on the exchanges before deciding to buy or sell. Professional traders can open multiple order types using any trading strategies, including stop-limit and market orders, to have more control over their investments.

    Example of orders placed on GunbotExample of orders placed on GunbotExample of orders placed on Gunbot.

    Gunbot Pricing

    Gunbot does not offer a free plan which is a major disadvantage to competitor platforms. Therefore, all users must pay a fee before opening an account. While Gunbot doesn't charge a subscription fee or recurring costs, users will have to pay a one-time license fee.

    Gunbot PlanPricing
    Gunbot One0.0006 BTC
    Gunbot Standard0.028 BTC
    Gunbot Pro0.05 BTC
    Gunbot Ultimate0.08 BTC

    Gunbot's one-off fees are denominated in Bitcoin, which may not be suitable for everyone and will fluctuate with the rise and fall of the Bitcoin price. It should be noted that most exchanges connected to Gunbot will charge trading fees. However, some exchanges on Gunbot don't require an API key to be registered. These include okGunbot, Gunthy, Beaxy, and Txbit, which can be used for free.

    Security

    On inspection of the Gunbot website, there was no information on the security measures. Although, since the platform installed a client on the users' PC, it does not have access to users' funds or information. To link Gunbot to their exchange account, investors only need to enter their API key and secret. The API secret, however, is kept on the investor's device for security reasons. As a result, only the user can access their API and other account information.

    Customer Service

    Gunbot has a professional support service via its dedicated team of customer support members. Users can reach the team via email support tickets to help them navigate the app or solve whatever issue they may have when using the app. Moreover, they can leverage its video courses from the Gunbot school or talk to the expert members of the growing user community to solve common issues. A self-service option allows users to set up their API keys for trading easily.

    Gunbot user reviewsGunbot user reviewsGunbot user reviews from Trustpilot.

    Based on existing user reviews, Gunbot has an overall 4.2-star rating on Trustpilot, indicating good customer service. Customers praise the support team for its responsiveness to solving issues and top-quality service across all the support platforms.

    Frequently Asked Questions

    Gunbot's website does not include information on the success rate of its in-built trading bots. However, automated crypto trading software can amplify potential profits and losses. Going by many user testimonials and online reviews, the trading bot successfully delivers on its promise but the actual results of individual traders is unknown.

    Gunbot has no subscription plan. The automated trading platform only charges a one-time license fee ranging from 0.0006 BTC to 0.08 BTC.

    Gunbot seems to be a legit automated crypto trading bot that gives users access to pre-made trading strategies to maximize profits. There are many videos of investors using the Gunbot trading platform on YouTube, and existing users agree that it's not a scam. However, investors should do their research before committing funds to the crypto robot.

    Gunbot supports over 130 cryptocurrency exchanges, some of which include Binance, Bitfinex, Bitmex, Bybit, Bitstamp, Bittrex, Coinbase, HitBTC, Huobi, Kraken, KuCoin, OKEx, Poloniex, Tidex, Yobit and Zaif.

    Gunbot is an advanced crypto trading bot with numerous features making it best suited for experienced traders. Beginner traders can also leverage its automated trading features to execute trades, but we recommend getting more familiar with the platform before trading and backtesting strategies.

    Conclusion

    Gunbot integrates with the biggest and most reputable cryptocurrency exchanges, and its automatic trading systems support a wide range of digital assets. According to our Gunbot review, the platform is better suited for sophisticated investors with a deep understanding of technical analysis and basic coding. This is a downside for beginners that may prefer simpler trading bots. Nevertheless, Gunbot makes up for this with a backtesting account that beginner traders can leverage for a more practical approach before deploying the bot with real funds.

    For those that want to try using crypto bots with a free plan, alternatives to Gunbot include Bitsgap and TradeSanta.

    Kevin GrovesKevin GrovesKevin Groves

    Kevin started in the cryptocurrency space in 2016 and began investing in Bitcoin before exclusively trading digital currencies on various brokers, exchanges and trading platforms. He started HedgewithCrypto to publish informative guides about Bitcoin and share his experiences with using a variety of crypto exchanges around the world.

    Share this post
    Or copy link