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Coinfinda Review: Is Coinfinda is a Scam?

Coinfinda Review: Is Coinfinda is a Scam?

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Coinfinda is a Crypto currency trading bot that can buy low and sell when the price is high across your selected exchanges. We believe when it comes to trading, there is no one solution fits all, a carefully planned strategy executed by a sleepless bot will tip the scales to your favor. To help you better execute your strategy, Coinfinda provides 2 types of bots called Scanner Bot and Scheduler bot. With regards to how it works, the website states the following:

”Create a new Scanner Bot by a few clicks and give it a name. Connect the bot to your exchange account via API keys which allows the bot to trade on your behalf (API keys only allow trading and forbid withdrawal and deposit).”

The third step is to allocate fixed amount to the bot so it can be isolated from other bots. The open position is triggered by receiving a signal.

The website further states that close position is based on your take-profit / stop loss target, the bot has a smart feature to adjust the target dynamically based on current market situation.

There is also the option of setting the bot to automatically power off when certain number of stop loss is reached so you can inspect and re-configure. At this point, the bot will start to work once everything is fine tuned correctly.

coinfinda

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Having said this, the average trader may wonder whether or not Coinfinda is offering the real deal.

N/B Check out these premium bots for Crypto currencies trading. 

Coinfinda review

We have gone through their about us section of the site and it is quite detailed. Coinfinda states the following on this section: ”We are located in the little nice city of Melbourne, and the team is made of people come from IT and finance who are passionate about technology, and believe in automation will amplify the power of human brain, so we started building the tool for our own needs, and now decided to share this with you. Like the Crypto market, Coinfinda is young and we are working hard on growing better fast, and we understand the best is not a destination but a direction, with that in mind, we are striving to provide the best services in the field.”

Features of the bots offered by Coinfinda

Dynamic take profit and stop loss

Scanner Bot will run and receive scanning signals to open the position, you only need to set up an exit strategy for the bot to close the position, the control allows you to utilize static or dynamic take profit or stop loss and auto-termination.

Statistics suggests the NO.1 key difference between a professional trader and a non-professional trader is the former cuts the loss effectively, and Confinda can do better with a dynamic target adjustment based on the market situation on a daily or hourly basis.

Cloud based trading bots

You don’t need to install or rent a VPS to run as the operators of the site take care of the chores.

Bots built with Technical indicators

The two bots are designed in such a way that users can choose their favorite indicators (e.g. MACD, RSI Bollinger Bands) to open their position. This makes us to believe that Coinfinda is basically the same as hundreds of other Crypto bots that use generic trading indicators. We have arrived at this conclusion because most trading bots that don’t meet expectations normally use these indicators.

Trailing stops

Take profit quickly with a fixed percentage or trail up not to miss the potential higher profit.

Pricing plan

Coinfinda offers a 30 day free trial to interested users, and we believe this is the best plan to get started with. The other 3 plans are known as Lite, standard and pro respectively. Lite is a subscription plan which costs $15.89 per month. It comes with 1 Scanner bot, 2 Scheduler bots, 1 Exchange Connection, Unlimited Selected Coins, Dynamic Take Profit and Stop Loss.

Standard plan costs $28.89 per month and features the following things: 3 Scanner Bots, 6 Scheduler Bots, 3 Exchange Connections, Unlimited Selected Coins, Dynamic Take Profit and Stop Loss.

The last plan, which is known as the Pro plan is the most expensive plan of all as it $79.89 USD per month. This plan comes with 8 Scanner Bots, 16 Scheduler Bots, Unlimited Exchange Connections, Unlimited Selected Coins, Dynamic Take Profit and Stop Loss. 

Is Coinfinda the real deal?

As a trader looking for a good Crypto trading bot, you might be tempted to make hasty decisions when making purchases. The good thing is that this website is offering Crypto trading bots with friendly subscription prices. There is even a 30 day free plan for those who are not confident of the abilities of their bots. Therefore, it is not a question of whether or not Coinfinda offers the real deal. It is about whether or not you are willing to make use of the trial to see whether or not the product is good enough to buy.

Secondly, your decision will be based on whether you are ready to pay a subscription fee every month in order to continue using the bot. There are some good trading bots that can be bought with a one time license payment. You have to factor this into your calculations as well.

And of course we are looking at whether you have the time to test the bots in order to find the sweet spot. All of these considerations have to be made before you can decide to make a purchase or use Coinfinda bots for your trading.

Our best advice for you

We cannot conclude straight away that this is a bad bot and at the same time, we can’t recommend it at this time when we have not seen any customer feedback regarding the product that Coinfinda is offering. All in all, you have to decide whether you have the time to test this robot. If not, we have good alternatives here which do not require any testing in order to find the sweet spot. You simply sign up and start using them right away.

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