Trality is said to be a platform for any person seeking to profit from algorithm trading. It gives you a chance to develop crypto trading bots like a pro. Your algorithms will run consistently 24/7, and since the system is cloud-based, you don’t need to install your own trading servers.
How does Trality function?
Trality enables you to create your own bot that can help identify trading opportunities for you in the live market.
Trality review-positive aspects
- Easy to use
- Allows users to backtest their strategies
- End-to-end encryption for algorithms
Trality review-negative aspects
- Only supports 4 exchanges
- Doesn’t have a mobile app
Time in business
Trality has been in business since 2019. Its mission is to assist everyone to develop and invest in automated trading bots. The site has grown over the years and attracted 80k+ verified users.
Trality has a good reputation in the market. As you will see later in this review, cypto traders using it have attested to its efficiency. The developers are also transparent in that they reveal their identities and provide their detailed professional background information.
Currently, Trality only works with 4 exchange options, and these are Coinbase, Binance, Kraken, and Bitpanda.
UI of the Trality
Trality’s user interface is not only friendly but also convenient. The language used to present the bot is simple and straightforward. The UI doesn’t overwhelm you with unnecessary options, and all the info is insightful and useful.
Key features of Trality
The system features the following:
- Code editor that helps users to write bots in Python
- Rule builder to develop bots through drag and drop
- Fast backtester for bot optimization
- Support for paper trading
How to get started on Trality
To use Trality, you need to choose your preferred plan and fill in your email. Once you click on the confirm link sent to your inbox, you can access the features provided. You can then create your trading bot either using the code editor or rule builder. Detailed tutorials are available to guide you through the entire process.
How secure is Trality?
The creators of the bot are committed to ensuring the security of all their systems and users. The platform does not hold your funds directly in your account and only utilizes official exchange APIs to carry out orders for you. Moreover, the strategies you create on the platform are end-to-end encrypted, which means that even the vendor is unable to see them.
Discord channels are available to answer the most basic questions users might have regarding the program. If your questions are more advanced, you are told to check out the Helpdesk or email the support team directly.
Are traders happy with Trality?
Yes, they are. We visited Trustpilot and found 24 reviews for this system, and overall, it has received a 4.2-star rating from its client base. As we scoured through the testimonies, we noticed that traders have really benefited from the features the service offers.
Pricing and fees
Trality has different pricing plans. To begin with, we have the Knight plan whose price tag is €9.99 if paid monthly or €95 when paid annually. The second plan is known as Rook, and a monthly plan goes for €39.99 compared to a yearly plan that is €383. The last plan, which is referred to as the Queen, is priced at €59.99 monthly or €575 yearly. The system does not take any fees from your trades.
Is a free trial available?
The bot is offering a free trial for traders who are not ready to risk real money before they get a feel of how the product works first. The free plan (Pawn) features a single live bot and a single virtual bot. It can also handle a trading volume of €5000 and allows you to conduct an unlimited number of backtests.
For now, the service only supports English. As a coding language it supports Python.
What kind of traders is Trality best suited for?
This bot is suitable for python gurus who want to put their quantitative skills to use through coding refined trading algorithms with the goal of increasing their returns. Casual traders intending to try out hands-free trading to boost their profits might also find this software useful.
Trality was created by Moritz Putzhammer and Christopher Helf in 2019. Moritz has a Ph.D in Business and demonstrates a wide professional experience in strategy, project management, research, and finance. On the other hand, Helf is passionate about computer science and has a history of working on big-scale machine learning projects. The founders work with 11 other individuals with a variety of backgrounds that have shown dexterity in the financial field.
Trality verdict: should you give it a try?
Trality targets users who are enthusiastic about trying out something new and enhancing their current coding and trading skills. The system has a good reputation in the market, which means you also stand to gain from it. But it is prudent you try the free plan first and backtest your strategies before working with them in the real market to be sure they are efficient.