How it works?
Below you will find an explanation of what Algo Rental is, how you can benefit from it and how our unique and fair performance fee system works.
Algo Rental provides users with an area of the UpBots Marketplace where users can choose from a selection of algo trading bots that can be activated on their account so that they will automatically conduct trades for the user.
These advanced trading algorithms that you'll find in the Algo Rental part of the Marketplace are developed by external companies like 4C-Trading, other independent developers, and UpBots community members with Master Trader status.
Want to rent your algorithm to the community? Contact the UpBots team about becoming a Master Trader. If your algorithm satisfies our QA and back-testing, you can earn up to 9.25% of the users' profits.
All of the Algo's submitted to our Marketplace, irrespective of source are all fully vetted, first by our QA team where they are carefully examined to ensure there are no bad actors.
No programming knowledge is required to rent an algo bot as all bots can be activated easily through our dashboard with minimal configuration required.
A minimum balance of 20 USDT is required to trade. Some bots may have a maximum limit of managed capital per user. This limit is imposed by the exchanges, not allowing trades with a value under this amount.
By using Algo bots, newer traders (New Recruits) can start building their portfolios while learning as they go and mitigating a lot of the capital risk that that new traders and investors are exposed to due to lack of experience.
Experienced traders will discover more spare time on their hands when using Algo bots to help manage their portfolios. Instead of spending countless hours watching the market you can now have more time to yourself.
We remind you that trading can lead to the loss of your capital. UpBots provides tools and an interface but is not responsible for any losses that may arise from your trades or those of bots, market inefficiencies, losses in value or any other technical problems. As always do your own research and be fully aware of the risks you are taking.
We have 2 different kind of bots.
Access to those algo bots does not carry any upfront costs, and you can plug as many bots as you want on your different exchange accounts.
The innovation of UpBots is that in order to use the Algo Trading Bots or other services available through the UpBots Marketplace, the user is only required to pay performance fees after a successfully closed trade, based on the amount they profited on that trade.
No profit? No fee.
Users can now deposit UBXN in their UpBots App wallet and assign some to the Algo bots or other services. For each profitable trade, a percentage of the profits made will be deducted from the UBXN balance allocated to run the service. In the case where the trade results in a loss, no fee is charged. For more on the performance fee system check out our in depth guide below.
Added very recently on UpBots, this feature allows to rent algorithms on a monthly fee basis, payable in UBXN or USD.
This option applies only to certain bots and allows to answer the demand of some users who prefer this system.