TWAP Bot uses the time-weighted average price approach for trading. The method is a simple algorithm that aims at reducing transaction charges by providing a lower average price and reducing the market impact of the transaction. In this review, we will analyze the various characteristics of this bot including its functionality and efficacy. For crypto traders who are in search of an effective bot, the review will help to decide on the suitability of the bot.
How does TWAP Bot crypto bot function?
With the bot, you can place big orders and execute them in a short time without altering the market price. The time-weighted system helps to anticipate the price movements of a very high volume. This ensures better results and an advantageous price when compared to the use of the volume-weighted method.
TWAP Bot review – positive aspects
- Only minimal order quantity is disclosed so there is no marked effect on market stability and price
- Useful for high-frequency trading
TWAP Bot review – negative aspects
- Due to high trading frequency, it is prone to flash crashes
- Trading may not be proportional to market liquidity
Time in business
Pionex is the company that creates and promotes this crypto bot. Gaorong Capital, Shunwei Capital, and ZhenFund are investors in this company with a collective funding of over 10,000,000 USD. The company has an MSB license given by FinCEN. There is no info present on the founding year, team members, and other related details.
The company is among the noted market makers of Huobi and aggregates liquidity from Huobi and Binance near the ticker price. You can choose from the 16 inbuilt bots of the company including Arbitrage, Martingale, and grid trading bots. The company has more than 100,000 users and is a renowned Binance broker.
Huobi and Binance are the two exchanges that the company supports. There are no further details available on the exchanges the company supports.
UI of TWAP Bot
A user-friendly interface is present that lets you place and execute orders quickly and efficiently. The menu options are easy to find and use.
Key features of TWAP Bot
Important features of the crypto bot that give it an edge over its competitors are:
- You can split an order with a big volume into multiple orders of smaller portions and execute them sequentially.
- Due to the minimum order quantity, the market prices are affected by the signals.
- It is ideal to use in situations where a predictable execution sequence is needed.
How to get started on TWAP Bot?
Using the bot is easy as it requires only a couple of steps. Here are the steps to follow:
- Visit the official website of Pionex.com and choose TWAP from the trading tools menu.
- Enter the order duration and buy or sell quote and the bot is ready to trade.
- You can choose from the 5-minute, 1 minute, 30 seconds, and 10 seconds order periods.
How secure is TWAP Bot?
As per the vendor info, the company has been functioning securely for 957 days. The vendor does not provide info on the security measures it uses for safeguarding user data and privacy.
For support, the vendor offers email, live chat, tutorial, community, and an FAQ section.
Are traders happy with TWAP Bot?
We found 148 reviews for the company on the Trustpilot site with a rating of 3.8/5. Here are a few of the user reviews:
From the feedback, we find that the company has provided a user-friendly app besides its tutorial section. One of the users speaks about the bad experience faced with the company due to the lack of proper info on the currencies that it accepts and does not support.
Pricing and fees
Use of the bots is free but you need to register first to use the site. The transaction fees include a maker fee of 0.05% and a taker fee of 0.05%. For withdrawal, the fee is based on the coin or token you are withdrawing. For BTC a fee of 0.0005 BTC is charged while it is 0.00002 HBTC for HBTC (1).
Is a free trial available?
There is no mention of a free trial offer which raises doubts about the reliability of the system.
The company provides support in 13 languages including English, French, Chinese, etc.
What kinds of traders is TWAP Bot best suited for?
Crypto traders looking to trade bigger volumes and at high frequency will find this bot suitable. Further, it is also ideal for institutional investors.
Daniel Seng-Cheng Yeo is the global CEO of the company with an experience of over 30 years in the finance industry. The team consists of 80 members with various skills including analysts, programmers, and others. We could not find info on the founding year, location, phone address, etc.
TWAP Bot verdict: should you give it a try?
TWAP BOT is a crypto bot that is very beneficial if you want to schedule a systematic orders execution. It is also ideal for illiquid assets. Some of the downsides in the system include the lack of security info and performance reports.