Gunbot Review

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While the crypto market is constantly active, investors can only monitor trades for short periods. Gunbot solves this problem using preset trading strategies to executive 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.

Our Take

4.1/5

HedgewithCryptoScore

Bottom line:

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 analyzing 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

Trading Fees:

N/A

Country:Global

Promotion:

None available at this time

Pros and cons

• 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

• 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.

Screenshot 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.

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 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. Moreover, the bot will scan to find the best trading times in the crypto market and place and order according to the strategy,

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

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.

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 Gunbot.

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.

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 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.

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.

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 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.

Exchange	Crypto Assets	Trading Fees	Rating	Promotion	Website	Review
KuCoin	806	0.1%	Rating 4.6/5	Up to 500 USDT in bonuses	Visit KuCoin	KuCoin Review
Coinrule	Depends on exchange connected	None	Rating 4.6/5	None available at this time	Visit Coinrule	Coinrule Review
Pionex	48	0.05%	Rating 4.4/5	20% trading fee discount	Visit Pionex	Pionex Review
Cryptohopper	Over 1,000	N/A	Rating 4/5	None available at this time	Visit Cryptohopper	Cryptohopper 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 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.

Screenshot 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 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'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 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

Final Verdict and Rating

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.