Veles Unleashed: A Comprehensive Review of the Ultimate Trading Bot Platform

Veles is a trading bot platform that allows users to save their time. You can set up automated trading on all popular exchanges such as Binance, Bybit, OKX, Gate.io, HTX, KuCoin, etc.

There are no mandatory monthly fees on the platform. Instead, users pay only 20% commission from profitable trades, but not more than $50 per month.

Official website

Platform overview

Trading on the spot and futures markets is available on the platform. Users have a wide range of trading pairs, which appear on the platform simultaneously with the listing on the exchange.

The platform provides a diverse set of tools and settings that allow traders to manage their trades efficiently.

Users can track the performance of their trades on historical data. Backtests are designed to help traders analyze their strategies in different market conditions and determine their potential profitability.

Risk Management

Risk can be controlled by using a trailing-stop, which allows you to protect your position by placing a dynamic order that is held at a certain percentage distance from the last price.

Multi-takes are available on the platform, which allow you to unload a position in parts. They are used to make profits with a step by step closing of the position. 

In the case of multi-takes, the user can set up a stop-loss at breakeven, which will be activated when the first take profit is executed, to protect the position from potential losses in case of a reverse price movement. There are two options for stop-loss to breakeven: stop loss at zero or at the price of the last take profit.

Operating speed

Order execution speed is critical to successful trading. That’s why the Veles team has integrated a technology infrastructure that ensures instant trade execution..

Platform Test

Each user is given the opportunity to complete a couple of simple tests, for successful completion of which they will receive up to $5 to their account on the platform. These funds can be used to pay commissions on the platform.

Functionality

The interface of the site is intuitive, it is possible to set up and run bots without the necessity of having professional skills. The Veles encyclopedia provides detailed text and video tutorials on all the main aspects of the work.

The blog and the showcase of ready-made bots provides ready-made strategy templates that are suitable for diverse trading. This is an option for those users who are not strong in developing their own trading strategies.

API Connection

An API key is used to connect to exchanges, which ensures absolute security of the user’s funds. When setting up a key, withdrawal restrictions are set, which means that bots are only able to perform trading operations, in other words to place orders.

Veles has also successfully passed a security audit by Binance. This audit confirms the reliability and security of the system, as well as strict compliance with the legal regulations regarding cryptocurrency transactions.

You can connect to the Veles platform in one click using FastAPI technology, which is available for Binance, OKX and Bybit exchanges.

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Bot setup

Before the main bot customization, it is suggested to set the deposit and leverage parameters. The Veles team recommends using a small leverage so that the bot can effectively average the position in case of strong and unpredictable movements in the cryptocurrency market.

By default, the user is offered to choose between conservative, moderate, and aggressive settings for trading. These settings were created to determine the bot’s range of operation depending on the trader’s preferences.

Veles offers several take profit variations: classic and partial. Classic take profit is used to close a position when the target level is reached. Multi-Take Profit allows you to close a position partially with the expectation of taking profit on the potential of the trade. If the price turns in the opposite direction, the bot can automatically close the position at breakeven. You can also close a deal on the signal of an indicator: there are more than 20 trading instruments on the platform. And the Marketplace has author’s solutions, which can be purchased on a subscription basis.

Filters

In the settings for the bot launch, the user can combine different indicators on different timeframes to create optimal filters for the trading bot.

Also, each user can automate his trading strategy. The Veles platform provides all the possibilities for this.

You can add TradingView strategy in filters to start the bot in a few clicks and launch the bot for trading.

Statistics

In a special section you can track your trading results, which provides statistics on both individual bots and general information about trades. This allows you to have a complete overview and monitor the effectiveness of the trading on the distance.

The user also receives notifications about his trades in Telegram, which allows you to keep informed about what is going on and quickly react to changes in the market.

Community

The active community of traders, united by a common interest in trading and using the Veles platform has more than a thousand members. Veles has channels in social networks, where users can share their experience, useful tips and ideas.

Technical support

Veles specialists are ready to help the user get used to it. You can sign up for a free Zoom consultation to learn how to effectively use the trading features.

Veles grants access to powerful tools for successful trading! A team of experts is ready to provide full support to quickly immerse you in the world of trading.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.