11 Best AI Trading Bots for May 2024

Michael Graw

Last updated: March 4, 2024 04:36 EST | 25 min read

Artificial intelligence (AI) has advanced rapidly in the last several years, and traders are taking note. AI trading bots can help traders find and analyze opportunities to make them more profitable. Even better, AI bots can take over trading on a user’s behalf, making it easier to place and win more trades every day.

Trading bots can vary widely in their risk tolerance, success rate, and adaptability to different market conditions. So, it’s crucial that traders choose the right bot for their style and strategy.

In this guide, we’ll take a closer look at the 11 best AI trading bots for 2024 and help traders decide which one to use.

The Top AI Trading Bots Reviewed

Let’s take a closer look at the top AI bots for trading so traders can decide which one is best for their strategy.

1. Dash2Trade – Overall Best AI Trading Bot Platform in 2024

Dash2Trade is our #1 pick for trading with AI bots today. This new platform offers 2 AI-powered trading bots for crypto: one that uses a dollar-cost averaging (DCA) strategy and another that uses a grid trading strategy. Both bots are compatible with 6 major centralized crypto exchange and support trading on more than 400 cryptocurrencies.

On top of that, Dash2Trade is in the process of rolling out a new tool that will enable traders to build bots based on their own custom strategies. Traders will be able to backtest and optimize bots, then control when and how they trade. This is an exciting development that will enable users to put their trading on auto-pilot with AI.

Dash2Trade also stands out for using AI to help users better understand what the crypto market is doing. The platform analyzes social media activity, including volume and sentiment, to identify explosive new cryptocurrencies and trending tokens. It also uses AI to monitor technical indicators like moving averages and RSI, then issues bullish/bearish signals over 1-hour, 4-hour and 1-day timeframes.

Dash2Trade offers a limited free version that traders can use to test out the platform. A paid subscription costs only $102 per year and includes access to all bots. Unlike other platforms, Dash2Trade’s bots don’t come with any additional trading fees.

2. Learn2Trade – Top Crypto Trading Bot with 79% Win Rate

Learn2Trade is a popular service that offers forex and crypto trading signals as well as a proven crypto trading bot. The Learn2Trade crypto bot has an impressive 79% success rate trading tokens like Bitcoin, Ethereum, Cardano, BNB, Chainlink, and more.

The bot operates over Cornix, which translates signals from Learn2Trade’s Telegram group into orders that are sent to a trader’s crypto exchange or broker. The bot is incredibly easy to use and takes less than 10 minutes to set up. Once running, traders don’t need to manually intervene at all to open and close crypto trades.

Learn2Trade’s AI bot is built using more than 100 technical indicators and scans dozens of crypto pairs, enabling it to find opportunities in any market conditions. The bot runs 24/7, which is ideal for the crypto market since it never closes.

The Learn2Trade bot aims for a reward-risk ratio of 3:1, which is in line with what professional traders aim for. It employs take-profit and stop-loss levels with every trade to manage risk.

Learn2Trade’s bot costs £99 per month, £349 per year, or £1,499 for a lifetime subscription.

3. Cryptohopper – Build Custom AI Bots That Choose Strategies Based on Conditions

Cryptohopper is a powerful platform for crypto traders. It offers a strategy marketplace where traders can find dozens of built-in and user-created trading strategies to copy. Traders can customize strategies with trailing stops and price targets to manage their risk.

Traders who want to go a step further can build and backtest their own strategies with Cryptohopper. The platform supports more than 130 indicators and doesn’t require any coding.

The most advanced option of all within Cryptohopper is to create AI bots for trading that learn when each of a traders’ strategies—self-created and copied—are successful. The AI can then automatically switch among strategies based on market conditions to help traders achieve the greatest profit.

This is very unique compared to other trading bot services, which mainly focus on one strategy at a time. Cryptohopper isn’t cheap however—the top-tier plan that includes AI trading costs $129 per month.

To get a 30% discount with this AI platform, use the Promo Code “CLICKOUT“.

4. Kryll – Crypto Trading Bot Marketplace with Hundreds of Automated Strategies

Kryll is one of the largest marketplaces for AI trading bots, offering hundreds of user-created bots with a wide range of crypto day trading strategies. According to Kryll, 75% of trading bots on the platform beat the market. Top strategies have generated returns of more than 100% per year.

Traders can copy or modify any existing Kryll strategies or create their own using the platform’s no-code strategy editor. It supports dozens of popular technical indicators and proprietary metrics, plus rules and triggers to help traders manage their risk.

Kryll’s strategies can be executed automatically on major crypto exchanges like Binance, KuCoin, Kraken, Crypto.com, Gate.io, and ByBit.

Traders have to purchase subscriptions on a bot-by-bot basis from the marketplace, and Kryll charges a small trading fee for every execution. Users who hold Kryll’s native $KRL crypto token receive fee discounts.

5. Pionex – Automated Trading Platform Offers an AI Chatbot

Used by more than 100,000 traders across 100 countries, Pionex is an innovative crypto platform that leverages artificial intelligence. On Pionex, investors can start investing with over 16 crypto trading bots.

Some of the trading bots include the ‘Grid trading bot’, which follows the buy low sell high strategy. It scans the markets 24/7, in search of the best entry point for various assets. Long-term investors can choose to trade with the ‘Rebalancing Bot,’ which allows you to create an index comprising different tokens.

However, Pionex stands out for its ‘PionexGPT’ AI trading feature. Pionex offers its AI chatbot feature, where investors can create custom trading strategies. You input your preferred trading parameters using text-based prompts, and Pionex offers new trading options.

The parameters and strategies can be backtested on TradingView. Finally, you can use Pionex’s trading signals to execute these customized strategies on the platform. Investors pay a fee starting from 0.05% per transaction when trading cryptos with Pionex.

6. Bitsgap — AI Crypto Trading Bot Uses Smart Orders

The next AI trading bot on our list is Bitsgap, specializing in crypto-based trades. So far, Bitsgap has activated over 3.7 million bots on its cryptocurrency platform.

This AI platform allows investors to connect to the trading terminal with various crypto exchanges – such as Binance and Coinbase. So far, over 500,000 customers use Bitsgap for their AI trading needs.

Bitsgap offers ‘Smart Orders,’ which is a trading strategy that uses several algorithmic orders, such as controlling the Risk/Reward ratio. Furthermore, Bitsgap’s servers are located near the servers of other top cryptocurrency exchanges. Thus, the platform supports fast order execution times.

On Bitsgap, investors can access a range of AI trading algorithms, such as the GRID and DCA (Dollar Cost Average) bot. The GRID bot automatically scans the markets, looking for the best entry and exit positions for investors. Meanwhile, the DCA bot provides low-risk earnings in a volatile market set-up.

With Bitsgap, investors can also trade crypto futures leveraging artificial intelligence. The DCA Futures trading bot is a good example of this strategy. One of the new strategies developed using AI is the ‘Combo Bot’ – a Futures trading bot that combines the GRID and DCA strategy to offer high yields.

You can access up to 10x leverage on this trading strategy. The basic trading plan costs $23 a month.

7. Bybit – Access AI-Powered Strategies for Cryptocurrency Trading 

Bybit is one of the biggest cryptocurrency exchanges in the world. The platform also supports an AI-powered cryptocurrency trading bot that helps you create new trading strategies. With Bybit’s AI-powered crypto trading platform, users can access intelligent trading strategies and insights.

One of the available tools on Bybit is ‘TradeGPT,’ an AI language model and chatting platform. It analyzes historical data and acts as your personalized trading assistant.

By leveraging machine learning, Bybit will forecast potential crypto trends and offer trading opportunities. TradeGPT keeps updating itself by analyzing new market movements and trends.

You can even access individual analyses of various tokens with this tool. Bybit comes equipped with some of the top automated trading tools – such as GRID and DCAs. You can even access the ‘Futures GRID’ with a minimum investment of just $1.

To study the markets, Bybit leverages multiple technical indicators such as MACD, RSI, and Bollinger bands. Trading fees start from 0.1% on Bybit.

8. Coinrule – Top AI Trading Platform for Beginners

Coinrule is one of the top AI-automated cryptocurrency trading platforms for beginners. The Coinrule trading terminal can be connected with more than 10 of the top crypto exchanges in the world.

To secure funds, Coinrule uses military-grade security and encryption. Traders can access simple and effective AI-based trading strategies such as ‘Catch the Swing.’ This strategy analyzes the RSI technical indicator to find the best time to buy and sell cryptos during a sideways market.

Other strategies include the ‘Uptrend Flash Crash’ – a beginner-friendly trading strategy allowing traders to catch the dip. Using AI, Coinrule implements the IFTTT (If This Then That) model.

This strategy allows traders to define preset stipulations that trigger actions within their trading account. On Coinrule, investors can start trading for free with the ‘Starter’ pack. However, you can only connect with one cryptocurrency exchange and access a monthly trading volume of up to $3K.

By opting for ‘Coinrule Pro,’ investors can connect with unlimited exchanges and access unlimited trading volumes. You also benefit from ultra-fast execution times and one-to-one training sessions. The Pro package costs $449.99 a month.

9. Gunbot — Create Custom Trading Strategies Using AI

The next AI trading bot on our list is Gunbot, an advanced trading platform that allows you to use pre-set and customized trading strategies. Partnered with some of the top crypto day trading exchanges such as Binance, Kucoin, and Crypto.com, Gunbot lets you trade across multiple DeFi (Decentralized Finance) ecosystems and access thousands of crypto pairs.

Advanced traders can create custom trading strategies in seconds using the Gunbot AI model. The AI creates customized trading strategies after providing Gunbot with a text-based description.

Beginners can utilize Gunbot’s ‘Plug & Play’ strategies – preconfigured strategies that can boost your returns on investment. By using Arbitrage and market making, Gunbot capitalizes on price variations across different exchanges to boost liquidity. The Standard Trading Edition of Gunbot costs $199 but gives you lifetime access.

This subscription plan lets you connect with one exchange and access unlimited trading pairs. The Gunbot Ultimate Edition plan gives you access to unlimited exchanges in a mobile app and connects you to DeFi tools. This costs $499.

10. Octobot – Get AI Trading Signals by Connecting to ChatGPT

Octobot lets traders stay ahead in the cryptocurrency markets by offering customized trading strategies using AI. The platform supports popular trading bots, featuring GRID strategies, daily trading modes, and DCA strategies.

However, Octobot stands out for combining AI within the crypto trading space.

Octobot’s AI-powered trading strategy connects with OpenAI’s ChatGPT, one of the most popular AI trading tools in the world. Octobot leverages ChatGPT to analyze cryptocurrency market trends and receive price predictions. For instance, Octobot will ask ChatGPT for a short-term price prediction on XRP.

The AI chatbot will study historical prices and real-time market movements to make a price prediction, which is then suggested to the investor. The AI predictions are suggested in the GRID and Daily trading mode.

While Octobot offers a free subscription plan, this only supports pre-set automated trading and paper trading. Investors must pay $76 a month for the ‘Standard Plan’ – which gives access to the ChatGPT trading mode.

11. Wundertrading – Activate up to 10 AI Crypto Trading Bots

With Wundertrading, investors can access many cryptocurrency trading bots, copy trading tools, and account management features. Wundertrading offers a range of cryptocurrency trading bots, such as DCA, GRID, and Spread bots.

However, one of the main features of Wundertrading is the AI crypto trading bot. Created for crypto pair trading, the bot uses artificial intelligence to execute profitable opportunities in the market.

The AI bot identifies correlations and patterns in the crypto space by analyzing historical data and real-time price movements. The main goal is to identify cryptocurrency pairs that will eventually demonstrate similar price movements at a particular time.

To get started, users can create a Wundertrading account, activate their 7-day trial run, and select the ‘Create Bot’ option. The AI bot also uses a spread trading strategy – purchasing one asset while selling the other. By paying just $3.47 a month, you can access a single AI bot with Wundertrading.

The Premium model costs $62.97 per month, and lets you activate 10 AI trading bots.

What is a Trading Bot?

A trading bot is a type of automated algorithm that can execute trades in a user’s brokerage or exchange account. These bots open and close trades based on a series of rules and triggers, so there’s no need for a trader to manually intervene.

Trading bots can operate on many different types of assets. There are stock trading bots, crypto trading bots, forex trading bots, and bots that trade multiple asset classes.

Most major brokers and crypto exchanges now support trading bots, either through webhooks or an API.

How Do AI Trading Bots Work?

AI trading bots work by interpreting rules, also called triggers, that indicate entry and exit conditions for a trade.

As an example, a trader could create a bot that opens a trade when a stock hits a new 30-day high and closes it when the price either increases by 5% or falls by 2%.

Notably, this example doesn’t require AI. Any simple bot or algorithm could follow these rules and execute this trade.

AI becomes important when traders want to achieve more complex—and potentially more profitable—strategies. For example, say a trader wants to open a trade when a stock exhibits a morning star candlestick pattern. AI must be involved in this case to recognize when a morning star pattern forms on the stock’s chart and open the trade.

AI can also be used to evaluate trading strategies in real-time and decide which one to use. For example, AI could backtest 3 trading strategies on the last 4 hours of price action to determine which of those strategies to apply when a stock triggers a trade entry condition. Using AI in this case can enable a trader to apply the best strategy for a situation instead of simply picking one strategy and applying it under all circumstances around the same entry condition.

Do AI Trading Bots Really Work?

AI trading bots can be highly effective, but it’s important that traders understand their use cases and limitations.

The most important thing to keep in mind when using AI trading bots is that the strategy underlying the bot must be a good one. AI might be able to choose between multiple strategies, for instance, but it assumes that at least one of the strategies is profitable for the conditions. An AI trading bot built to execute a poor strategy will still likely lose money even though it uses AI.

The success of an AI trading bot is often measured either as a win rate (the percentage of trades it closes for a profit) or as an annual return (the total return delivered on a set amount of starting capital over a year of trading).

The best AI crypto trading bots, like Learn2Trade’s bot, can deliver a win rate of nearly 80%. By comparison, most day traders aim for a win rate of around 50%—and many fail to achieve even that.

AI trading bots that report annual returns have been known to deliver 100% or more in a year.

Types of AI Trading Bots

AI trading bots can be categorized according to the types of assets they’re designed to trade. The most common asset types for which bots are used include crypto, stocks, and forex.

Crypto

Crypto trading bots are designed to trade major cryptocurrencies such as Bitcoin, Ethereum, Ripple, and others. Some bots focus on a few of the largest cryptocurrencies, while others trade hundreds of altcoins. In addition, bots can exclusively trade crypto-fiat trading pairs (e.g. BTC/USD), but many also trade crypto-crypto pairs (e.g. BTC/ETH).

Crypto trading bots usually integrate with crypto exchanges such as the best Kraken trading bots, but some support traditional brokers that offer cryptocurrency trading.

Stocks

AI stock trading bots are designed to trade stocks. Many focus on US stocks listed on the NYSE and NASDAQ stock exchanges. However, bots can also be used to trade OTC stocks (also known as penny stocks) or foreign stocks.

Stock trading bots are designed to integrate with most major US brokerages.

Forex

AI forex trading bots are designed to trade currency pairs such as EUR/USD, GBP/USD, and others. These bots primarily trade major and minor forex pairs because they have high liquidity. That said, they can also be used to trade exotic forex pairs.

Many forex trading bots also support cryptocurrency or stock trading. However, they may offer different strategies for trading different assets.

Are AI Trading Bots Safe & Legal to Use?

AI trading bots are completely legal to use in the US and most other countries. They are considered a trading tool much like charts or other analysis services.

In general, AI trading bots are also safe to use. However, traders should be aware that if they enable a bot to trade on its own without intervention, they could lose money.

A bot that is built poorly or encounters an unusual market situation could trigger multiple large, losing trades in a row. It’s extremely important for traders to test bots with a paper trading account before activating them in a live brokerage account.

Traders should also be on the lookout for trading bot scams. These are very common, especially in cryptocurrency. The US Commodities and Futures Trading Commission (CFTC) recently issued a warning about AI bot scams.

How to Use an AI Trading Bot

Here’s a quick rundown of how to set up and use an AI bot for trading.

Step 1: Sign Up for a Trading Bot

Using a trading bot starts with choosing what bot a trader wants to use. They must sign up for the bot service and, if there’s a marketplace or multiple strategies available, select a bot. It’s important to evaluate the bot’s past performance and risk management controls at this time.

Step 2: Connect the Bot to a Trading Account

Connect the bot to a brokerage or crypto exchange account following the instructions given by the bot provider. Usually, this involves logging into the trading account and giving the bot permission to execute trades. Traders should not be required to give the bot permission to withdraw money from the account.

Step 3: Activate the Bot

When ready, activate the bot to enable it to begin trading. The bot will begin scanning the market for entries that meet its strategy conditions, then open a trade automatically. Depending on the bot, traders may get a notification that a trade has been opened, but they should not need to intervene.

Conclusion

The best AI trading bots can help traders find more opportunities to trade, reduce their risk, and potentially earn more profits. These bots offer a wide range of strategies and can be used to trade crypto, stocks, forex, and more.

Our pick for the overall best AI trading bot in 2024 is Dash2Trade. Dash2Trade offers 2 crypto trading bots and will soon enable traders to create their own custom bots. It’s easy to use and offers an affordable subscription that provides excellent value.

References

• Cyclr: What is a Webhook? Understanding the difference and how to use them
• TradeThatSwing: Win Rate, Risk/Reward, and Finding the Profitable Balance
• CoinDesk: What Are Crypto Trading Bots and How Do They Work?
• Internet Lawyer Blog: AI Crypto Trading Bots: Navigating State, Federal, and International Laws
• CFTC: CFTC Customer Advisory Cautions the Public to Beware of Artificial Intelligence Scams

FAQs

Are AI bots best for trading?

AI bots can be very useful for trading and deliver higher returns that many traders could achieve on their own. Traders should consider what strategies they want to use and how much money they have to trade with when deciding if an AI bot is right for them.

Are AI trading bots successful?

Many AI trading bots have win rates much higher than 50% and annual returns of 100% or more. However, AI trading bots are not guaranteed to be profitable, so traders should always check how a bot has performed in the past.

Are AI trading bots legal?

AI trading bots are completely legal for crypto, stock, and forex trading in the US and most other countries.

How do AI trading bots work?

AI trading bots have a set of entry conditions that, when met, trigger the bot to open a trade. Once a trade is open, the bot has a set of exit conditions that determine when the bot will close the trade.

Which AI trading bot is best for crypto?

The best AI crypto trading bot is Learn2Trade. Learn2Trade can trade dozens of cryptocurrencies and has a 79% win rate. It targets a return-risk ratio of 3:1 and works with most major crypto exchanges.

What is the best AI stock trading bot?

The best AI stock trading bot is TrendSpider. TrendSpider uses AI to analyze stock charts for trendlines and candlestick patterns, enabling traders to use these patterns for trade entry and exit conditions. TrendSpider is compatible with most major stock brokers.

About the Author

Michael Graw

Gambling and Finance Writer

Michael Graw is an experienced freelance finance and tech writer, specializing in cryptocurrencies, decentralized finance, and Web 3.0 since 2018. His work has been featured on various financial news sites like Business2Community, InsideBitcoins, LearnBonds, and tech-focused outlets like TechRadar. He has collaborated with fintech and crypto startups on whitepapers and investor resources, and also has expertise in sports betting and crypto gambling. Michael holds a Bachelor of Arts from Cornell University and a PhD in Oceanography from Oregon State University. He now resides in Bellingham, Washington, and writes full-time.

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