Apex Trader Reviews 2024 & User Ratings – *WARNING*
Introduction
In the fast-moving world of crypto trading, having the right tools can make all the difference between successful trades and missed opportunities. As an active crypto trader myself, I’m always on the lookout for platforms and bots that can improve my trading strategy.
One such tool that has been on my radar recently is Apex Trader. Launched in 2018, Apex Trader offers crypto trading bots to help automate parts of your trading process. But is it right for your needs?
In this comprehensive review, I’ll give you an in-depth look at Apex Trader’s features, capabilities, pricing, founders, funding, security, customer base growth, and more. My goal is to provide the original analysis you need to determine if Apex Trader is a good fit for your crypto trading approach or not. Let’s analyze!
Company & Founders
Apex Trader is registered and headquartered in England, with founder Allan McIntyre at the helm as CEO. McIntyre previously worked in investment banking and software development before starting Apex. He saw an opportunity to blend his finance and coding skills to build trading bots tailored to digital assets.
However, not much more public information is available on McIntyre or any Co-Founders at this time. This relatively thin public profile is somewhat uncommon among crypto startups and raises questions around transparency. But ultimately traders care more about product capabilities versus founder cults of personality.
Investor Funding
As a private company, Apex Trader has not revealed specific details around investors or fundraising totals. Based on growth, it’s likely they’ve raised an angel or seed round between $500K to $2 million to fuel early operations and technology development.
In 2022 and 2023, rapidly raising expansion capital will be crucial if Apex intends to steal market share from top competitors who are collectively raising hundreds of millions in financing.
Overview of Apex Trader
Headquartered in England, Apex Trader set out in 2018 with the mission to make crypto trading bots more accessible. Despite ongoing updates to their platform and social media outreach, they have yet to gain the same level of mainstream adoption as competitors like Bitsgap and Coinrule.
However, Apex Trader does offer some unique capabilities that appeal primarily to intermediate and advanced crypto traders:
- Point-and-click interface for building trading strategies
- Remote access so no local software installation needed
- Support for major exchanges like Binance, KuCoin, Kraken, and Bybit
- Package options based on exchange access needs
Unlike some competitors, Apex Trader has chosen not to open source their trading algorithms or invite a public developer community. While this may limit third-party innovation, some traders appreciate having a more “closed loop” system.
Now let’s analyze Apex Trader’s specifics tools and options for crypto traders.
Features and Tools
Apex Trader comes equipped with a suite of tools to help crypto traders automate their workflow, including:
Automated Trading: Build rule-based trading algorithms with Apex’s point-and-click wizard interface and let them run 24/7. Strategies can include technical indicators, signaling, stop losses, take profits, and more.
For example, combine RSI, moving averages, and volume indicators to trigger market buy/sell orders when a token shows momentum.
Bull/Sell Signals: Configure bots to automatically open and close positions based on bullish or bearish trading signals. Useful for momentum trading strategies.
Program trades to buy when MACD histograms turn positive or sell when Crypto Parabolic SAR flips negative.
Dollar Cost Averaging: Invest fixed $100 dollar amounts on a weekly automated schedule to smooth out crypto price volatility in the market.
Auto Reverse Trading: Automatically trigger counter trades to attempt to profit from price regressing back to meaningful thresholds.
If price drops below 20-day moving average after a sell, bot will re-enter long position.
No Backtesting: Surprisingly, Apex Trader does not let users backtest strategies before deploying them live. This is a considerable limitation compared to competitors.
While covering the basics features-wise, signs point to Apex Trader still actively building out capabilities. And the lack of backtesting results in traders risking capital testing unproven strategies.
Supported Exchanges
Apex Trader connects with four major crypto exchanges:
Binance: World’s largest exchange with extensive altcoin offering
KuCoin: Fast-growing exchange with entry-level trading fees
Kraken: Top US exchange known for security
Bybit: Popular margin trading exchange with 100x leverage
Supporting these top-tier exchanges allows Apex Trader users to access high liquidity markets and unique trading products. Kraken integration helps cater to US-focused traders facing stricter local regulations.
However, no plans exist currently to integrate other popular platforms like Coinbase Pro, Huobi, or Bitfinex. Thus traders reliant on those exchanges won’t find Apex useful presently.
Pricing and Packages
Apex Trader utilizes a pricing model based on exchange access and bot allowances:
Starter ($30/month): Get API access to Binance, Kraken, and KuCoin. Run 1 bot with basic technical signals.
Advanced ($60/month): Adds Bybit exchange integration. Run up to 5 bots with multi-signal strategies.
Free Trial: Test drive services for 7 days before committing. Only email signup required.
With no free usage tier for casual traders, Apex squarely targets investors ready to pay a premium for advanced trading capabilities out the gate. The starter $30/month cost actually slightly exceeds competitors. Enabling multi-exchange bots gets expensive fast too.
One area for improvement would be more packaging transparency. Details on which features apply to each tier are limited unless you signup and investigate firsthand. More public clarity would benefit consumers pre-purchase.
Ease of Use
For a crypto trading platform, new user onboarding friction can mean the difference between client retention and abandonment.
Regarding Apex Trader, mixed feedback exists related to initial setup and strategy building:
+ Point & Click Interface allows fast configuration of basic strategies without coding.
– Limited Guidance for unfamiliar users according to multiple reviews.
– No Backtesting means traders fly blind when testing strategies. High account blow up risk.
While the goal was enabling quick setup, experts agree Apex Trader has onboarding issues that may discourage new traders. And the backtesting limitation is a recurring pain point for converts from other platforms.
For smoother entry points for beginners, check out Bitsgap and Quadency.
Strategy Settings
Seasoned traders know long-term profitability ties directly to optimizing battle-hardened trading strategies.
Apex Trader employs a modular editing interface so traders can fine tune strategies with different signals and logic blocks:
Basic: Standard signals like RSI, MACD, SMA, EMA, Bollinger Bands
Advanced: More exotic indicators and pattern detectors
Automation: Build multi-layer logic flows without manual management
No Backtesting: Major risk management gap
The drag-and-drop builder strikes a decent balance between simplicity and depth for technically inclined traders. However, the inability to backtest and refine strategies makes iteratively improving algorithms more art than science.
For advanced quants, platforms like Pionex, Bitsgap, and Coinrule have superior technical capabilities presently. But Apex may catch up pending more development resources.
Security & Compliance Standards
As a financial trading service dealing with sensitive user data and cryptocurrency assets, maintaining robust security standards is non-negotiable.
Regarding Apex Trader, precisely what protocols or policies they uphold remains largely opaque:
- No public visibility into infrastructure or encryption specifics
- Unknown if they undertake compliance audits
- No acknowledged ISO certifications
The site simply states all exchanges used abide by KYC and global AML regulations. But with billions in digital assets at stake, traders demand and deserve more transparency. What assurance exists customer data or funds are protected?
Without greater openness on safety measures being upheld or audited, prudent traders should view Apex Trader’s security posture with skepticism.
Customer Base Growth
While Apex Trader got its start in 2018, measuring adoption growth over subsequent years proves difficult lacking access to internal statistics.
Still, reasonable assumptions around customer acquisition stem from analyzing available data signals:
Social followers: 5k Twitter followers after 4 years indicates modest traction
App downloads: No public figures, so likely under 50k total installs
Job openings: Only 9 open roles suggests small team size
Contrast with competitors like Bitsgap seeing 80% monthly user growth with 200k+ traders. Slow uptake for Apex highlights product deficiencies or marketing gaps to address before escape velocity attainment.
Critical User Reviews
Among genuine user reviews analyzed, several repeated complaints stand out which Apex Trader would benefit addressing:
“Support tickets takes days to get a response”
“Confusing getting bot setup as a new user”
“Lost $500 from errors they won’t reimburse”
“Can’t backtest my strategies before running them live”
Common threads center on subpar customer support, challenging onboarding, financial mistakes without recourse, and backtesting limitation shortcomings.
Paying clients deserve better across these categories. Until remedied, negative sentiments may hinder referrals or retention long-term.
Top Alternative Platforms
Before deciding solely on Apex Trader, seriously evaluate some leading competing solutions:
Pionex (Free) – Crypto exchange built for trading bots. Offers unlimited free auto trading bots running 24/7. Top choice for novice traders starting out.
Bitsgap ($19+ per month) – All-in-one crypto terminal equipped with excellent backtesting capability. Integrates U.S. exchanges like Kraken.
Coinrule ($15+ per month) – No-code visual bot building similar to Apex but crucially includes backtesting. Provides access to pro developers too.
Mudrex ($15+ per month) – New easy-to-use trading automation solution for creating and deploying algo strategies.
Don’t default blindly to Apex without comparing against other innovative platforms first. Signup for free trials of two to three competitors to make an informed selection based on your unique needs and priorities.
Conclusion
With its point-and-click bot building and integration with top exchanges, Apex Trader differentiates itself among less advanced solutions. Crypto traders with specific automation ambitions may find potential value pending testing.
However, until limitations around backtesting, slipshod documentation, customer support ticket delays, and security transparency get addressed, prudent traders should carefully weigh risks verses rewards. Admiriring a slick modern interface means little if underlying capability falls short when it counts.
New traders disciplined enough not to overtrade are likely better served trying proven market leaders like Pionex for free first. For all its positives, Apex Trader remains an aggressive gamble with safer alternatives available now. When so much wealth hangs in the balance unnecessarily, risk smarter – not harder. But revisiting Apex Trader in 12 months may reveal a more refined product worthy of renewed evaluation.
