BitMEX rolls out customizable bots for predefined trading strategies

Crypto exchange BitMEX has introduced automated trading bots with customizable options for different trading strategies.

Seychelles-based cryptocurrency exchange BitMEX is expanding its offerings with the launch of automated trading bots that allow users to implement customizable strategies for trading.

BitMEX said in an Oct. 10 press release shared with crypto.news that the so-called “Trading Bots” are designed to execute predefined strategies or react to market signals.

The platform provides two tiers of Trading Bots: Basic Bots, aimed at new traders, enable automatic trade setup, while Advanced Bots cater to more experienced users, offering a variety of configuration options, including time frames and technical indicators such as the Relative Strength Index.

BitMEX says its trading bots cover a wide range of more than 200 crypto contracts and offer users a wide variety of trading strategies. Once a bot is configured, it will automatically execute trades based on the user’s market view. The exchange added that investors have the flexibility to adjust or disable their bots whenever they want, adapting to changes in market dynamics.

Commenting on the product launch, BitMEX CEO Stephan Lutz said it is “an exciting step forward at the intersection of cryptocurrency and AI-driven technology.” While it’s unclear whether the bots use artificial intelligence, Lutz emphasized that they facilitate “data-driven decision-making” and benefit even novice investors.

As crypto.news previously explained, the effectiveness of crypto trading bots remains a controversial issue. Experts agree that although they can be useful, average users are unlikely to make profits without significant trading knowledge. Most effectively, trading bots serve as automation tools for skilled traders rather than a quick path to riches for inexperienced users.