Best Crypto Trading Bots in Australia 2023
I was often wondering whether there’s some magical solution that could help me simultaneously monitor numerous crypto exchange platforms and track the price of coins like Bitcoin (BTC), Ethereum (ETH), or other cryptos without spending too much time. Unlike the Forex market, the cryptocurrency market never sleeps, and well, I had to sleep sometimes.
In order to take advantage of all the opportunities across multiple exchanges, I needed some external, automated help in the form of crypto trading bots.
In this extensive guide, I’ll take a detailed look at crypto trading bots to show you how they work and what their benefits and disadvantages are, along with a detailed series of reviews of the best trading bots available for Australian users.
Affiliate Disclaimer: This site is supported by its visitors. We may earn a commission for purchases made through the links on our site, which helps keep everything running and grow the knowledge base.
Table of Contents
Best Crypto Trading Bots in Australia2023
Let’s dive into the crypto bot reviews. I’ll show you all the key details about the best crypto trading bots for Aussie traders.
1. Bybit – Best Overall – FREE Bot
- ByBit is a top-rated crypto exchange, and so is their trading bot.
- A fully autonomous trading bot that requires little input.
- Smart trading strategy features.
- The bot is tied to ByBit’s platform, so you can’t connect it to other exchanges.
The ByBit trading bot is designed by ByBit, one of the top global crypto exchanges and derivatives trading platforms. ByBit’s trading bots are grid bots with a broad range of automated trading strategies. This allows users to choose a trading strategy according to their needs and start trading crypto.
I found this feature especially useful for beginners who don’t know much about trading bots. You can choose the Buy the Dip mode, where the bot automatically buys cryptos with a downward price trend and sells them later when the price recovers to a profit-taking level. I didn’t have to monitor the bot at all times because it implemented the strategy on its own.
Also, I was positively surprised by the fact that ByBit’s bot does not incur any subscription fees. There are only trading fees. This brings me to the one and only downside of the ByBit bot. The bot is strictly tied to the ByBit trading platform, and you can’t connect it to other exchange accounts.
Still, ByBit is a huge crypto marketplace, and I found the bot really useful for automating my ByBit trading operations.
2. Pionex – 16 FREE Trading Bots
- Great for beginners.
- 16 free trading bots.
- Numerous available trading strategies, including margin trading, futures and 5x leveraged trading.
- Leveraged trading and futures contracts are extremely risky.
Pionex is a tremendously reliable choice for a trading bot. I was delighted to learn that Pionex offers 16 totally free trading bots. You don’t need to pay any subscription fee. Instead, you just pay a 0.05% trading fee, which is really low compared to some competitor platforms that charge subscriptions plus trading fees.
The Pionex grid trading bot is a great solution for buying low and selling high through an automated process without the need for constant supervision. I just let the bot do its thing and was pleasantly surprised to see its effectiveness. The Pionex arbitrage bot is designed specifically for implementing crypto arbitrage trading strategies, and it’s connected to the Binance ecosystem for finding the best arbitrage opportunities between Pionex and Binance.
In case you have a high appetite for risk, you can also try the Pionex futures trading bot that allows users to enter 5x leveraged trading positions, but keep in mind that leveraged trading is much riskier than spot trading or arbitrage. The Martingale bot is also a great choice for users who wish to implement dollar-cost averaging (DCA) strategies when investing in crypto on the Pionex platform.
3. KuCoin – Best for Beginners
- The best trading bot for beginners.
- Great selection of 5 free trading bots.
- No subscription fees.
- Lacks advanced trading strategy input features.
The KuCoin trading bot is probably the best bot for beginners I’ve encountered. It’s very easy to use, just like the KuCoin crypto exchange in general. You just need to deposit cash or crypto into your platform account, choose the type of crypto bot you wish to use, create it for free, and start using it.
I think that the choice of crypto bots on KuCoin is really great because the platform supports five types of bots that are completely free. The only thing you need to pay is the standard platform trading fees, and KuCoin is famous for its low fees. The trading bots enable users to automate their trading operations on KuCoin and profit from the bot’s capability of battling volatility.
The spot grid bot works as a standard buy-the-dip bot that buys low and sells high. The futures grid bot is designed for traders who like high-risk, leveraged trading through long or short trading positions. With the smart rebalancing bot, you can invest in a balanced portfolio of crypto assets with a diversified risk, including large-cap, mid-cap, and low-cap coins.
KuCoin’s dollar-cost averaging (DCA) bot is great for profiting from crypto investing over a longer period of time through regular, equal value investments in different coins, while the infinity grid bot is designed to curb volatility through balanced trading deals.
4. Trality – Best for Creating a Bot
- The best platform for creating crypto trading bots.
- A wide variety of trading tools for optimising your bot.
- Great mobile app.
- It isn’t beginner-friendly.
- The basic plan is limited, while the advanced plans require a monthly subscription fee.
Trality is a crypto trading bot platform that allows users to create their trading bots from scratch. Honestly, I found the Trality API a bit complicated, but once I familiarised myself with how the platform works, I was delighted with the broad choice of bot creation tools and parameters.
You can literally design a custom trading bot for your needs! However, this means that the platform isn’t beginner-friendly at all, since you’ll need to manually fill in all the parameters regarding the trading strategy and the goals of your trading bot. Trality bots can be optimised to work on four of the leading global crypto trading platforms, including Binance, Kraken, CoinbasePro.
One of the features I found most useful is the backtesting option that let me try out my trading bot and find out whether its parameters work well in a test environment. A Trality bot is free of charge, however, the basic plan is limited to a 5,000 USD trading volume. The advanced plans have a monthly subscription of 10k, 40k, and 60k USD, depending on the plan you choose. Each of the advanced plans comes with extra features, such as advanced trading strategy tools and higher daily limits.
- Great for use on mobile devices.
- Various trading templates are included in the pro version of Coinrule.
- Very helpful customer support.
- The pro version of Coinrule is very expensive.
Coinrule is famous for being one of the best trading bot providers for mobile devices. The platform has a great app for both Android and iOS mobile devices, and it’s super easy to use. The mobile version of Coinrule has a well-designed interface that allows users to customise their bots, implement various trading strategies and easily modify bot parameters. The mobile app is the key advantage of Coinrule over many competitors that only provide services on desktop devices.
Coinrule is a cloud-based trading bot platform that supports a variety of the best crypto exchanges. I could connect my Coinrule bot to exchanges such as Bitfinex, Binance, OKEx, which is a great option since all these platforms have huge markets with a wide variety of trading opportunities.
A great thing about Coinrule is that it allowed me to modify so many parameters and create a custom strategy according to my needs. By default, Coinrule offers more than 150 rules for trading bots, or you can even create your own rules as I did. The basic version of Coinrule is free, but the more advanced versions are a bit expensive, especially the pro version, which costs 450 USD a month.
- The platform is web-based, which means you don’t need to download any apps.
- Very efficient bot.
- A broad selection of crypto exchanges.
- Doesn’t have a free version, after the trial period you need to pick a paid plan.
CryptoHopper is a highly efficient trading bot platform that doesn’t require any downloads because it’s fully web-based. You just need to create an account, log in, set up your trading bot and start earning.
The CryptoHopper platform is famous for its ease-of-use and high efficiency, which comes at a price. There’s no free version of CryptoHopper, which was a bit of a disappointment. Still, I got the opportunity to try the platform through a free trial period. After the trial, I could choose between different paid plans. The basic plan is 19 USD, while the most expensive one is 99 USD per month.
CryptoHopper’s efficiency is mainly a result of its advanced technical tools, such as nearly 100 chart recognisable price chart patterns and more than 30 technical indicators. Thanks to these tools, CryptoHopper is able to conduct profitable trading deals with up to 75 cryptocurrencies at the same time.
I was delighted to learn that I can connect my CryptoHopper bot to 9 different crypto exchanges, including the likes of Binance, KuCoin, Bittrex, Huobi, Kraken, and numerous other platforms. Also, I found the CryptoHopper backtesting functionality very useful because it allowed me to make sure my trading strategy really works before investing money.
- Numerous indicators and bot rules for implementing advanced strategies.
- Great for long and short trading.
- A great mobile app besides the standard web platform.
- Advanced plans require a monthly subscription fee.
TradeSanta is one of the best options if you’re looking to automate your long and short crypto trading operation because the platform provides users with bots that are specifically built for this purpose. Other TradeSanta bots include dollar-cost averaging bots for users who want to gradually build up their crypto portfolio over time, grid bots that implement various trading strategies, as well as classic buy low, sell high trading bots. TradeSanta uses a wide range of indicators and technical analysis tools to find the best trading opportunities, including RSI, Bollinger Bands, MACD, and other indicators used by advanced traders.
I was thrilled to learn that TradeSanta supports numerous crypto exchanges, and I could easily connect all of the exchange platform accounts to my trading bot. TradeSanta supports leading crypto exchanges such as Binance, Kraken, Huobi, and others, which means that users get easy access to some of the best crypto markets.
TradeSanta also provides users with trading signals and copy trading options that allow them to instruct their bots to copy the trading strategies of successful traders. The free version comes with two free bots, while the most advanced paid plan with an unlimited number of bots costs 70 USD per month.
- One of the oldest and most proven bots on the market.
- Great for leveraged trading.
- 15 custom bots.
- Complicated for beginners.
HaasOnline is one of the oldest crypto trading bots on the market. The platform is trustworthy and it has a proven track record of satisfied customers. When I tried HaasOnline, the first thing I noticed was the broad range of parameters and technical analysis tools available on the platform. I could literally tweak all the parameters of each of my 15 custom bots.
The bots come with predefined characteristics and strategies, but you can modify each of them to target specific exchange platforms and coins and implement strategies at your desired pace. Available strategies include dollar-cost averaging, arbitrage trading, scalping, and others. All strategies can be backtested and paper tested before implementation, which I found very useful.
Despite all of its advantages, HaasOnline is a bit too complicated for beginners. Honestly, even I had some difficulties understanding how the platform works because I had to use the custom-built HaasScript programing language to set up the bot and modify its parameters.
As far as the crypto exchange connectivity is concerned, I could connect my Haas bots to a wide variety of exchange platforms, and the bots use numerous indicators to evaluate the market data from different exchanges before executing trades. HaasOnline also supports leveraged trading features that are great for users with a higher risk appetite.
- The free plan comes with 3 bots.
- You can connect your bot to 22 crypto exchanges.
- Numerous indicators and technical analysis tools.
- The free plan doesn’t support paper trading to test out strategies.
3Commas is another highly reliable crypto trading bot designed to automate your trading experience across numerous platforms. I was surprised to learn that 3Commas supports as many as 22 crypto exchanges and you can connect to all of them simultaneously if you have accounts on them. This huge number of exchange platforms means that your bot has a wide variety of trading choices and pulls data from a high number of sources simultaneously.
That’s why 3Commas bots are great for arbitrage trading because cryptos bought low on one exchange can often be sold for a higher price on one of the 21 additional exchange platforms. I found the integrated trading view and crypto signals features especially useful because they allowed me to instruct my bots to copy the trading habits of other traders and to specifically target certain cryptos.
3Commas has a lot of indicators and technical analysis tools, including the SmartTrade panel that allowed me to instruct the bot to simultaneously purchase or sell a whole set of coins and tokens. Apart from the web platform, 3Commas also has a great mobile app for Android and iOS operating systems, so I could manage my bots while on the move. The free plan comes with three bots, one grid bot, a DCA bot, and an Options bot.
- Great bots for copy trading.
- Fantastic affiliate program.
- Very useful backtesting options.
- No mobile app.
Shrimpy is a great platform for creating crypto trading bots, but it’s also a portfolio management tool that lets you connect your crypto exchange account and monitor your crypto balance with ease.
I liked the fact that Shrimpy allowed me to engage in copy trading by ordering my bot to mimic the trading patterns of other successful traders on different crypto exchanges. I just had to instruct my bot to copy a specific trading account and do exactly what the trader behind that account does.
The key metrics you should evaluate before copying another trader are their number of followers, monthly profits, and how active the trader is. This is a great feature for beginners, but it’s also a nice way for experienced traders like myself to automate their trading operations.
The platform can connect to up to 16 exchange platforms, which is more than enough to secure great profit opportunities through different tactics such as copy trading, arbitrage, and scalping. Shrimpy is one of the rare platforms that allows you to use a demo mode with tutorials and try out the platform’s features before depositing money.
Additionally, all users have backtesting features available to make sure their strategy works. On top of that, Shrimpy has a great affiliate program that gives users a 50% commission on the first 3 monthly subscription fees made with their referral code.
Disclaimer: Trading and investing in cryptocurrencies involves a lot of risk. The prices are volatile, and performance is unpredictable. Their past performance is no guarantee of future performance. Please consult a financial advisor or obtain your own advice independent of this site before acting on the information provided.
What Is a Crypto Trading Robot?
A trading bot is a piece of software that’s created specifically for pulling data from numerous sources, in this case, cryptocurrency exchanges. The data is used for finding the best buy and sell opportunities according to the bot’s operational strategy. Crypto trading robots are the perfect solution if you want to follow market data on hundreds of exchanges and implement basic or advanced trading strategies.
The bot’s strategy depends on the operator’s input. For example, I can instruct my bot to implement an arbitrage trading strategy and look for profit opportunities between different exchanges by buying crypto on one platform and then selling it for a slightly higher price on another platform.
Many bots come with predefined strategies for users to choose from, but I sometimes prefer to create my own custom strategy and order the bot to implement it. It’s also possible to target specific cryptocurrencies and instruct your bot to focus on trading opportunities involving your target coins.
Trading bots can also be used for portfolio management across different exchange platform accounts and your private wallet. For instance, I typically connect a trading bot to my crypto exchange accounts and give it permission to conduct automated trading operations and store my profits in my third-party crypto wallet.
Crypto bots have two operational stages. The first one is risk assessment, where a bot estimates the potential profitability or loss possibility of a certain trade. Once the risk assessment is finished and the estimated outcome is positive for the bot’s user, the software moves on to the execution stage. In short, the execution stage is when the bot actually implements its trading strategy and conducts the trades approved by the risk assessment mechanism.
Benefits of Cryptocurrency Trading Bots
- The first and most important benefit of crypto trading bots is that they actually work. The thing is that you absolutely need to choose a reliable trading bot with a proven track record of successful trading and positive reviews from satisfied customers. That’s why you should always stick with the most popular bots.
- Crypto trading bots have extremely high speed and no emotions. When using a trading bot, I don’t need to simultaneously check dozens of exchange platforms and rush to conduct a profitable trade because the bot pulls all the necessary information in a matter of minutes. Additionally, the bot doesn’t have emotions, which means it makes trading decisions exclusively based on market data and automated risk assessment.
- Bots have a consistent trading strategy, meaning they automatically search for the best trading opportunities based on the strategy I choose and stick to it until I change the input and shift the bot from an arbitrage strategy to a market-making trading strategy, for example.
- Trading bots are great at risk assessment because they diversify the risk by distributing investments across various trades in order to minimise the risk. Humans, on the other hand, including me, often get greedy when trading crypto and don’t assess the risk rationally before conducting a trade.
Risks of Using Crypto Trading Bots
- There are many poor-quality bots out there. These days, the market abounds in crypto bots, the majority of which offer poor services and a very limited selection of features. Worst of all, they don’t deliver on the developer’s promises.
- A lot of bots will just take up a lot of your time. You’ll think you’ve optimised them properly, but they just won’t give you satisfying returns because they have a faulty design. Personally, I had one too many headaches from low-quality bots, which is another reason I prepared this detailed guide on how to choose the right bot.
- Top-quality crypto bots are great at risk assessment, but if you choose a low-quality bot, you might end up losing much more than profiting. The risk assessment stage is a crucial part of every trading bot’s operational mechanism. If the risk assessment software has flaws, then the whole bot is simply garbage and you’re at high risk of losing money.
- You can’t leave a trading bot constantly without supervision. Trading bots can be really efficient if they are well designed, however, you shouldn’t take their functionality for granted. That’s why crypto bots need to be supervised from time to time just to be sure that everything is in order.
How to Choose the Best Bitcoin Trading Bot in Australia
Choosing the right Bitcoin trading bot can be quite difficult, so I’ve prepared this list of important factors you should evaluate before trying out a bot.
The success rate of a trading bot is one of the most important characteristics of all automated trading programs. The best way to find out how successful a specific bot is is to browse the company’s website, search the web for product reviews, and visit the bot’s social media channels in search of comments about its efficiency. It’s also a good idea to check community feedback on Discord if the platform has a Discord account.
Fees can really vary from bot to bot, which is why you should compare the fees of several trading bots, as well as the service quality they offer. I always like to check what I get for my money because sometimes an expensive bot might really be worth it, while sometimes a free bot has all the features you need. The thing with free bots is that they might be limited to only one exchange platform or lack backtesting and other crucial features. It’s probably best to try a paid plan that isn’t very expensive and then move to a more advanced plan if you’re satisfied with the bot.
Many bots have minimum deposit thresholds, which can be super low, with a starting level of less than 100 USD, while some bots require a more serious upfront investment for implementing advanced trading strategies.
Security is always among my top priorities when checking out crypto trading bots. A crypto bot is usually connected to numerous exchange platform accounts at once, which poses a considerable security risk if a hacker manages to breach one or more of those connections. You can lose all of the crypto stored in your exchange platform account if a hacker breaches your bot or its connection to the exchange. That’s why you need to take a detailed look at the security measures implemented by the bots you’re looking to use.
Deposit and Withdrawal Methods
The deposit and withdrawal methods are usually limited to crypto-to-crypto transactions. However, some bots keep your crypto in exchange platform accounts, while other bots allow you to connect a private wallet to the bot and pull your profits automatically to the wallet.
I always prefer to use a trading bot with transparent operational mechanisms. Many, low-quality trading bots tend to obscure their working mechanism, which is a red flag for me because it looks like they have something to hide, or they might even be scam bots designed to drain your wallet or exchange platform accounts once you give them access to your funds. That’s why you should always go with a fully transparent bot like some of the ones I described in this guide.
Ease of Use
I like to use a trading bot that doesn’t require me to spend hours analysing how it works. Ease of use is very important for me, and it’s generally a key factor when it comes to a smooth user experience.
Popular Crypto Trading Bot Strategies
Let me walk you through some of the most popular crypto trading bot strategies.
One of the most popular strategies is called market making. This strategy is implemented by constantly issuing buy or sell orders at different prices than the dominant market price. Basically, you’re influencing market conditions by changing the demand for a certain asset.
By doing this, you’re contributing to the liquidity of crypto exchange markets by issuing limit orders and profiting from the spread between the buy and sell price. If Bitcoin’s current market price is 20,000 USD per coin, you can create a sell order for 20,100 USD and a buy order for 19,900 USD. Once these limit orders are filled, you’ll profit 200 USD.
Arbitrage trading is one of my favourite trading strategies. Basically, you need to monitor multiple exchange platforms at once to notice a profitable buy opportunity for a certain crypto, which you can immediately sell for a higher price on another exchange, thanks to the price difference between different crypto exchanges.
Doing an arbitrage can be quite complicated for a human trader in real-time, but not for a crypto trading bot, as they can pull data from multiple sources simultaneously. Although immediate profits from arbitrage trading aren’t very high per trade, it’s actually a very profitable long-term strategy.
The mean reversion strategy is a great way to profit from relatively stable cryptocurrencies that usually fluctuate around a certain price range. When a crypto has had a stable trend for a long period of time, that means that even when the price jumps or falls, it’ll return to the average level at some point.
Based on the average price of the crypto in question, your bot can do buy or sell trades at opportune moments to earn you profits. For example, if Ripple has a historical average of 1 USD, you can buy it, and then if it goes up to 1.20 USD per coin, you can sell it for a profit because you know that at one point it’ll probably return to around 1 USD. Instead of manual trading, you can order your bot to implement this strategy.
Trend trading is an advanced strategy I like to use with my bots because it really does something that’s extremely difficult for humans to do on their own. The bot literally identifies price trends of various digital currencies, compares them across numerous markets and then executes trades depending on the price change trends and their future estimates based on the price chart patterns that are built into the bot’s software.
The result of this strategy is that the bot recognizes when a crypto’s price trend is starting to move upwards in order to buy that asset, and immediately sells that crypto for a profit when it recognizes a downwards price change trend.
Frequently Asked Questions (FAQs)
Let’s have a look at some popular crypto trading bot FAQs.
What is the best Bitcoin robot in Australia?
There are a lot of top-quality crypto trading bots available for Aussie traders so it’s difficult to pick one, but some of the best bots are definitely ByBit, Pionex, and Trality bots.
How do you auto trade Bitcoin?
In order to auto-trade Bitcoin, you need to use an automated trading bot that allows users to input custom targets. You’ll need to select Bitcoin as your target crypto, along with a specific trading strategy. For example, if you want to auto-trade Bitcoin through an arbitrage strategy, you have to use a bot that supports arbitrage trading.
Do crypto bots actually work?
In short, yes, crypto trading bots really work, but there are a lot of low-quality bots on the market and they’re really making a bad name for bots because of their poor service quality. That’s why it’s important to only use the best bots on the market, such as the ones described in this guide.
How Do Cryptocurrency Trading Bots Work?
Crypto trading bots are software solutions that are based on custom-designed programming algorithms that order them to execute specific trading strategies. Bots do precisely what their users program them to do, which is why it’s important to set up your trading bot to make it profitable.
What Is the Most Successful Crypto Trading Bot?
All of the bots described in this guide are very successful trading bots available for use in Australia, but if I had to pick one specific bot, Pionex is definitely a super efficient choice.
What Is the Safest Crypto Exchange in Australia?
Most of the popular Australian crypto exchanges are very safe to use, however, CoinSpot is often considered the most secure Aussie exchange platform due to the fact that it’s active since 2013 and has never been hacked.
Are Crypto Trading Bots Profitable?
The profitability of your bot depends on which bot you’re using and whether you know how to set your bot up for success. You should stick with the bots described in this guide for reliability. As for profitability, you should always backtest your trading strategy before ordering your bot to start trading. This way, you’ll be able to choose the most profitable strategy in advance and turn your bot into a passive income stream.
How Much Can a Crypto Trading Bot Make?
Crypto trading bots can really earn you a lot of money if you’re prepared to invest considerable funds and manage to adequately program your bot. The key thing is to choose a reliable, top-quality bot, along with a profitable trading strategy. For example, arbitrage trading can earn you considerable profits in the long run, however, for short-term gains, a trend trading strategy might be a better solution.