Need to test out your trading strategy before putting it live? With both AlgoExpert and AlgoMonster, you can test strategies with virtual capital to ensure that your strategies are profitable when you trade with real money. Which platform should you use though? In this review, we’ll compare these two automated trading platforms to help you choose the best one for your needs.
It may seem like there are many algorithms generating platforms out there, but only a few of them are worth your time. Each project offers something different; we think it’s important to compare them and find out which platform is right for you. In today’s comparison, we’ll be looking at these two platforms to see what they have in common, and how they differentiate themselves from each other.
What is AlgoExpert.io?
AlgoExpert.io is a platform that allows users to create their algorithms and share them with others. Users can use this platform to build their own AI bot that they can then sell to other users. This is a great way to earn some extra money from home.
AlgoExpert has over 100,000 registered users who have built over 2 million bots. They are currently working on expanding their team and hiring developers to help scale their platform.
What is AlgoMonster?
Need to build a trading strategy for your algorithm but can’t code? Don’t worry, some tools can help! If you’re looking for an easy way to start coding algos without writing a single line of code yourself, then we’d suggest checking out AlgoMonster.
This is an online platform where you can create and test algorithms using simple drag-and-drop actions and indicators on their visual interface. You don’t need any coding experience at all – everything is done through their intuitive interface.
Difference Between AlgoExpert.io and AlgoMonster
AlgoExpert.IO is a platform that allows users to create their algorithms (or bots) using our API. You can use this bot to do anything from trading cryptocurrencies to playing games. Our API is free to use and we have a lot of cool features like auto-updating your bot if you’re not around. We also offer a premium version of our API that has some extra features.
AlgoMonster is a website where you can find pre-built algorithms that are ready to go. They cover many different topics and they are updated regularly. These algorithms are created by other people who want to share them with others. If you want to learn how to code, you can start here!
Features: AlgoExpert.io vs. AlgoMonster
Expert advisors are arguably one of the most important components of any automated trading system, but so many platforms on offer can often make it difficult to know what you’re getting for your money. It’s not just about generating profitable signals, but rather having access to a powerful range of features and tools that will enable you to constantly improve performance and avoid costly mistakes along the way.
Pricing: AlgoExpert.io vs. AlgoMonster
The differences in pricing also reflect a major disparity between these two platforms. On average, you’ll pay $75/month to use AlgoExpert as opposed to $180 for AlgoMonster. This price difference is reflective of their overall value—which we’ll get into below. That said, both sites offer free trial periods so that you can test them out before committing.
Support: AlgoExpert.io vs. AlgoMonster
The support for both systems is excellent. They offer 24/7 email support, and their responses are usually within 1–2 hours of your message. Additionally, both platforms offer an active public chat area on their website where you can discuss strategies with other users and staff members in real-time.
For those who want a little more hand-holding, both companies also offer paid premium packages that provide access to phone or video calls with mentors and tutors. Finally, they each have very active communities of investors on Facebook and Twitter. If you run into any issues while using either platform, there’s a good chance someone else has already encountered it and figured out how to solve it!
If you’re looking for a simple and easy-to-use algorithmic trading platform, that won’t cost you an arm and a leg in fees, then either of these is a good solution. While there are key differences between them, they are both reliable, popular platforms used by investors around the world.