UpBots Trading Platform Review
The all-in-one trading system, UpBots, has announced that its trading platform is ready for launch. This announcement comes after almost ten months of intensive development. The platform, called UpBots MVP, brings new features and tools for their users, tools that will enhance the platform’s functioning, both for novice and seasoned traders.
This is on the back of the UpBots IEO on the derivatives exchange FTX, which was a resounding success. All token allocation slots received bids within minutes.
The new platform will be an ecosystem for cryptocurrencies, commodities, forex, and DeFi products, both on centralized and decentralized exchanges. Before diving into the new platform in a little detail, let us look at the steps UpBots is taking to increase its presence and visibility.
UpBots has come up with the UpBassadors competition. This competition aims to increase its social media presence. This completion concluded on the 21st of September, with the winners receiving UBXT tokens. UpBots also released details about the HOLD program, with rewards like discounts on subscriptions, discounts on performance fees, access to VIP tools, participation in a profit-sharing pool, and other benefits.
The UpBots burn program also received an update. UpBots plans to burn about 25% of the net performance fees collected through social copy trading and bots. Above that, UpBots will also burn a small percentage of the net annual income until the first quarter of 2024. Through this, UpBots aims to reduce the total supply of UBXT in circulation by half.
Now back to UpBots MVP. Let us look at some of the latest developments on the platform and the updates that we will see when the platform is publicly available.
The interface
UpBots MVP’s user interface is straightforward to use and navigate. It is visually sophisticated and straightforward. The dashboard also doubles up as your home screen. It displays the summary of your trades and your portfolio’s status, along with your user profile. Quick access keys are strategically and conveniently located for you to view your wallets, wallet balance, rented algorithms, and your UBXT balance across connected exchanges.
The profile management page lets you customize your account according to your preferences. You can set your preferred base currency, add a profile picture or an avatar. However, the most important aspect of the profile management section is that it lets you increase your account’s security. It enables you to do this by allowing you to activate two-factor authentication.
Trading bots
The UpBots MVP platform allows you easy access to trading bots. This helps define investment strategy, monitor investments’ performance, and keep an eye out for more investment opportunities. Three bots are currently under development, and these will be made available to traders at the earliest. Each will have different functionalities, with traders being able to activate and deactivate them at will.
UpBots MVP platform has taken innovation up a notch. It will introduce a guided tutorial, which will help anyone who wants to create new bots through just five simple steps. There will be a release later in the year that will let users deploy the bots they have created to trade for them.
Performance manager
UpBots performance tracker is still a work in progress, but its functionality bears significant promise. The performance manager is set to be at the heart of the UpBots platform. It will enable users to launch both basic and complex manual trades and monitor market sentiment.
It will also include advanced trading tools that will let users make multiple trades. Traders can select multiple entries, fix multiple targets, and give their strategies the flexibility and customization they desire.
UpBots has plans to develop versions with capabilities like trading directly on charts and modifying stops by just actions like dragging and dropping. There are also plans to add forex trading sometime in 2021. Risk management features and safety measures for cross-market orders are features you will see on the platform as well.
Portfolio manager
UpBots MVP platforms portfolio manager allows users to add multiple accounts, making it easy to track and manage them. The interface is extremely intuitive. Traders can add their API keys and link their wallets to their respective UpBots account, enabling them to monitor their portfolio’s distribution.
Marketplace
The platform has a marketplace and an algorithm rental section. These facilitate the buying, selling, and leasing of bots and algorithms. Initially, only the algorithms developed by the UpBots team and their partners will be available to the community. The community will be able to rent these.
In the near future, access will be given to those users who have completed the UpBots algorithm developers program and have a specific amount of UBXT tokens. The traders won’t have to make any upfront payments. This is keeping in line with UpBots commitment to protect the interest of their users.
Conclusion
You have seen above, just a small glimpse into the features seen in the upcoming UpBots MVP launch. UpBots plans to introduce an array of new features in the forthcoming year, enhancing its platform experience through constant innovation.
The end goal for UpBots is to become the one-stop solution for all things related to crypto trading and traditional asset trading.
