Best Crypto Trading Bots in Canada: Most Powerful Automated Trading Apps (2024)

Photo credit: Leanback Player

If you are not sure where to begin with crypto trading apps, consider Immediate Edge and Quantum AI – two of the best available to Canadians.

Want to know exactly what they have in store? Keep reading; we at Leanback Player have prepared a detailed guide for you below.

DISCLAIMER: The information provided in this article is for educational purposes only. We at Leanback Player do not offer financial advice and brokerage services nor recommend readers to buy or sell cryptocurrencies, stocks, or securities. Online trading is risky, so make sure to approach it with caution.

Best Crypto Trading Bots in Canada

Immediate Edge

• Cost: Free
• Free Trial: Yes
• Overall Rating: 4.95/5

Quantum AI

• Cost: Free
• Free Trial: Yes
• Overall Rating: 4.8/5

Disclaimer: These crypto trading bots reviews are specifically focused on users in Canada. Please be aware that the features, services, and capabilities discussed in this article are relevant only to Canadian traders.

1. Immediate Edge – Best Crypto Trading Platform in Canada Overall

Photo credit: Leanback Player

Highlights:

• Over a dozen crypto coins
• Covers a variety of other assets
• Fully mobile mobile-friendly app
• $250 min deposit
• Features demo account

If you are looking for the best crypto trading app in Canada overall, make sure to take a look at Immediate Edge – it ticks all the right boxes, offering a great variety of assets, comfortable banking, low fees, and much more. Let’s have a closer look at it.

Pricing

Immediate Edge is a bit different from other crypto trading bots. It’s free to use, which isn’t typical when it comes to automated trading apps – most of them make money by charging a fixed subscription fee with additional commissions for each trade.

With Immediate Edge, you won’t be paying any subscription fees – rather, you will be charged for each successful trade. So, it’s in the best interest of the app to help you have as many successful trades as possible!

Make sure to keep in mind that you’ll have to deposit at least $250 to start trading.

Free Trial?

The Immediate Edge crypto trading bot won’t cost you a penny, and it doesn’t have any extra costs or hidden charges. That’s why they don’t really offer a free trial – because right from the start, it’s completely free to use.

You can definitely use the app in demo mode, though, which is available once you make the first deposit.

Supported Assets

What sets Immediate Edge apart is its flexibility.

It’s not just about one type of asset or only about crypto trading. Nope, it’s much more varied than that.

You can trade commodities, stocks, Forex, and, of course, cryptocurrencies on Immediate Edge. the list of supported crypto coins includes:

• Bitcoin
• Ethereum
• Bitcoin Cash
• Litecoin
• Ripple
• Binance Coin
• Cardano
• Solana
• Avalanche
• Dogecoin

Who Is It Best For?

With no cost to use – and packed with smart features – Immediate Edge has a great track record. This makes many people think it’s a good fit for almost everyone.

This automatic trading platform can suit both beginners and advanced traders.

Probably the best thing about Immediate Edge is that it’s easily adaptable to traders of different styles.

Let’s say that you are a complete beginner with little to no knowledge of crypto trading; you can set the app to do all the work for you – market analysis, research, finding buy and sell opportunities, and conducting trades.

Do you want to retain more control over your positions? You can do that, too – for example, you can simply use it for analyses only and do the rest on your own.

How It Works

To get the Immediate Edge trading bot working, you just need to register a free account and put in a minimum of $250.

After you’ve put down the deposit, you can tell the bot how you want it to trade. If you’re new, you just pick the kind of asset, decide how much you want to spend – the least and most amount per trade – and choose your risk level.

What’s cool about Immediate Edge is that it does everything on its own, thanks to smart AI tech. Your job is to watch what’s going on and make changes to your crypto trading strategy if needed.

Immediate Edge also has handy analytic tools like charts, technical indicators, and different ways to show the market.

You can use Immediate Edge on most devices, which makes it a good starting point for beginners with no trading experience or anyone interested in crypto.

Other Features

Immediate Edge shines as a super flexible trading bot that offers more than just crypto trading.

It helps cut down the risk when you’re trading things like bonds, stocks, crypto, and Forex. The best part? It does all the work for you, so if your trading plan works, you could make some easy money.

People in Canada can use Immediate Edge for free, and there are no hidden charges for any transactions, whether you’re trading or moving money around.

>> Start crypto trading with Immediate Edge

2. Quantum AI – Best Crypto Trading App for Beginners

Photo credit: Leanback Player

Highlights:

• Beginner-friendly interface
• Plenty of altcoins to pick from
• $250 minimum deposit
• Zero fees
• Also covers stocks, FX, and CFDs

Just getting started with little knowledge about crypto trading? Then, consider using Quantum AI – it’s a very user-friendly app with an excellent interface.

Pricing

Quantum AI is just like Immediate Edge; it’s a crypto trading bot that doesn’t cost you anything to use. It’s totally free to set up an account, and they don’t sneak in any extra charges or fees!

Free Trial?

Quantum AI is available at no charge in Canada – as well as Australia – which eliminates the need for a trial period.

And if you want to use the demo mode, you can do so by making your first deposit. Once the deposit is made, you are free to use the app in demo mode.

Supported Assets

Quantum AI isn’t just about cryptocurrencies, it also keeps tabs on Forex trading, stocks, and CFDs. It’s always on the lookout for any ups and downs in prices, letting you know about the best opportunities for buying or selling assets.

Right now, it’s got you covered with Bitcoin, Ethereum, Litecoin, Bitcoin Cash, Dash, Monero, Ripple, and more.

Who Is It Best For?

Think of Quantum AI as a helping hand in the world of crypto trading – it’s really valuable for experienced crypto traders. But it’s the best automated trading platform for beginners.

Once you make the first deposit of $250, you’ll be able to use this automated trading app to its full potential. Set the goals, let it analyze the markets, and open and close positions for you. It really does everything you’d need to!

The interface is very good, too. It’s very easy to use, which makes it a perfect fit for beginners.

How It Works

Getting started with Quantum AI is pretty straightforward. Once you’ve put down the minimum deposit of $250, you can set up an account.

Just like Immediate Edge, all you have to do next is decide what cryptocurrencies the bot should keep an eye on and set your transaction limits. It really is the best AI trading bot we could find for beginners!

Other Features

When it comes to spotting new chances and automating the trading process, Quantum AI has a lot in common with Immediate Edge.

We’re looking at one of the most powerful auto-trading bots in the crypto world. It’s the leading crypto trading bot for beginners, ensuring an excellent user experience.

>> Trade cryptos with Quantum AI

What is a Crypto Trading Bot & How Does It Work?

A Crypto Trading Bot, in the simplest terms, is a software program that interacts with cryptocurrency exchanges to analyse trading data, place buy or sell orders, and generally manage your trades for you.

These advanced trading tools are designed to make trading simpler and more profitable by automating processes that would usually require constant attention and quick decisions.

To get a better understanding, let’s break it down.

Crypto trading bots operate based on predefined rules and strategies. These trading strategies can range from simple ones like ‘buy low, sell high’ to more complex ones involving technical indicators and signals from multiple sources.

For instance, a bot might be programmed to sell Bitcoin when its price reaches a certain threshold or to buy Ethereum when a particular moving average is triggered.

One of the most popular types of crypto trading bots is the ‘arbitrage bot.’ Arbitrage bots take advantage of price differences across various crypto exchanges. For example, if Bitcoin is selling for $40,000 on Exchange A and $40,500 on Exchange B, the bot will buy on Exchange A and sell on Exchange B to make a profit!

Another type is the ‘market-making bot.’ These bots place multiple buy and sell orders to make a profit from the spread. If you’ve ever seen a stock market trading floor with people shouting buy and sell orders, this bot does the digital version of that.

Crypto trading bots also use historical data and complex algorithms to predict future price movements. Advanced bots like Immediate Edge even use machine learning and artificial intelligence to adapt their automated trading strategy based on new data.

However, using a bot doesn’t mean you can just set it and forget it. They require monitoring as market conditions can change rapidly. So, manual trading is not completely out of the picture just yet.

Cryptocurrency trading bots can be a valuable tool for crypto traders. They automate the trading process, allowing you to trade crypto 24/7, eliminate emotional decision-making, and react faster to market changes than a human ever could. That’s good!

Pros and Cons of Crypto Bot Trading

Crypto trading bots are not perfect, but if used correctly with the right trading strategy, they can offer a host of new benefits.

Anyhow, here are some of the ups and downs of using an automated trading bot compared to doing it yourself.

Pros of Crypto Bot Trading:

• Advanced Order Types: Bots can seamlessly execute complex order types such as trailing stop-loss, iceberg orders, or TWAP (Time-Weighted Average Price) orders, which would be quite challenging to implement manually.
• Algorithmic Strategies Implementation: Bots enable the use of sophisticated algorithmic strategies like mean reversion, momentum trading, and pairs trading. These strategies usually require intricate calculations and precise timing that bots can handle effectively.
• Integration with Machine Learning: Some advanced bots, like Immediate Edge, integrate machine learning algorithms that learn, adapt, and optimize their specific trading strategy based on new market data, potentially improving their performance over time.
• Risk Diversification: Bots can manage multiple positions across various cryptocurrencies simultaneously, allowing for risk spreading and potentially enhancing returns through diversification.
• Arbitrage Opportunities: Bots, like Quantum AI, can quickly identify and take advantage of arbitrage opportunities, where a cryptocurrency’s price differs between exchanges.
• Technical Analysis: Bots can perform technical analysis, using charts and mathematical computations to identify trading opportunities based on statistical trends.

Cons of Crypto Bot Trading

• Overfitting Risk: In backtesting, there’s a risk of overfitting, where a bot is overly tailored to past data and performs poorly with new data.
• Vulnerability to Market Manipulation: Bots can be exploited by manipulative practices like “spoofing” or “wash trading,” and they may struggle with sudden market phenomena like flash crashes.

What to Look for in Automated Trading Bots

Trading bots come in various forms. Here are the key, must-have features for every high-quality trading tool.

• Pricing and Free Trials: Even seasoned, professional traders like a good deal. Does the trading bot offer a free trial or a freemium model? This lets you take it for a spin before opening your wallet.
• Try Before You Buy – Backtesting: The trading bot should have top-notch backtesting tools. This lets you put your strategies through their paces with historical data before betting the farm on them.
• Follow the Leader – Social and Copy Trading Features: Some trading bots let you ride the coattails of successful traders. This can be a game-changer, especially if you’re looking to level up your trading game.
• Have It Your Way – Customizable Crypto Trading Strategies: The best bots don’t box you in. They give you the freedom to tweak trading signals and trading indicators to match your risk appetite and financial goals.
• The More, The Merrier – Support for Multiple Exchanges: A trading bot that plays nice with multiple crypto exchanges expands your trading playground and opens up trading strategies like arbitrage.

How to Set Up a Crypto Trading Bot & Start Trading

Here’s a simple, step-by-step guide to getting a crypto trading bot like Immediate Edge started.

This process involves picking the right bot, setting it up to your liking, and connecting it to a cryptocurrency exchange.

Step 1: Create an Account

• Visit the Immediate Edge website
• Sign up for a trading account
• You’ll need to fill in some basic information
• Create a secure password.

Step 2: Add Funds

• Deposit some funds into your trading account
• The minimum deposit for Immediate Edge is $250
• Make your deposit

Step 3: Set Up Your Bot

• Configure your trading parameters
• Set your stop loss limit, decide how much to invest per trade, etc.
• Choose and set your trading strategy

Step 4: Start Trading Crypto Online

• Run the trading bot & trade cryptos online!

Best Crypto Trading Bots in Canada: FAQs

Are Cryptocurrency Trading Bots Allowed in Canada?

Yes, cryptocurrency trading bots are indeed allowed in Canada.

They are used to automate the buying and selling of cryptocurrencies, and several platforms, such as Immediate Edge and Quantum, cater to traders in the country.

What Is the Best Crypto Trading Bot in Canada?

The best cryptocurrency trading bot for Canadian traders is Immediate Edge. We are looking at one of the most advanced free crypto trading bots – 100% safe, packed with advanced features, and very intuitive to use.

Can I Use Dollar Cost Averaging With a Cryptocurrency Trading Bot?

Yes, you can use Dollar Cost Averaging (DCA) with a cryptocurrency trading bot. DCA bots are automated tools that allow for regular investments over time to mitigate the impact of market volatility.

They buy a certain share of assets at regular intervals, lowering the average cost per coin and making investments less sensitive to market changes. This can optimize returns and increase efficiency in the volatile crypto market conditions.

Are Crypto Trading Bots in Canada Free?

Yes, some crypto trading bots like Immediate Edge and Quantum AI are free for Canadian traders to use.

These advanced trading bots allow all users to register a free account and only require a $250 deposit to execute trading ideas.

Ready to Start Trading Crypto Bots Online?

We at Leanback Player hope you enjoyed our dive into the crypto trading platforms because the time has come to execute trades!

Again, Immediate Edge is the best crypto bot trading platform in our book. It offers loads of features and high efficiency and is 100% free to use with a $250 minimum deposit.

Quantum AI is another smart trade bot that we warmly recommend for trading alts.

Whichever cryptocurrency trading bot you opt for, make sure to stick to sound trading strategies, keep it safe, and never wager more than you can afford to lose.