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TabTrader Review

TabTrader Review

The amount of applications for trading cryptocurrencies and Bitcoin has grown significantly in the last few years. TabTrader is one of the older applications around and has a significant user base. But times change, and when developments don’t follow the rapid pace of the cryptocurrency market, applications simply get replaced. That’s exactly what’s happening with TabTrader. We decided to write a review to show you what this application is providing and which significant features are lacking.

Overview

Overview TabTrader

TabTrader was founded in 2015 in Amsterdam, The Netherlands. The three founders are Denis Suslov, Kirill Suslov, and Yaroslav Madarakh. Available for both iOS and Android, the application reached an impressive milestone of one million downloads in the Play Store. TabTrader comes with a free version and a paid version. A desktop application does not exist although it should be in development according to TabTrader’s Twitter (look at the picture below). A browser version is in beta at the time of writing… But it’s been in beta for about a year now, another sign of stagnant developments.

What is TabTrader? 

TabTrader makes it possible to trade cryptocurrencies on multiple exchanges straight from your mobile device. You can place price alerts and track the markets closely. 

Back in 2015, offering price alerts was unique. However, TabTrader left significant developments behind and most users don’t seem to appreciate the lack of features and excessive advertisements in the free version. As a result, TabTrader’s Bitcoin and TabTrader’s crypto trading has gone down. This is very obvious in the TabTrader client reviews we find in the Google Play Store and the App Store, which we will look at later.

It’s easy to see where TabTrader is slacking. It mostly provides spot trading only, the exchanges available seem outdated, the iOS application is not providing the possibility to trade, and there is no desktop version.

TabTrader’s competitor is Good Crypto which offers a bunch more and better features, keeps updating around the clock, and offers a paid version that is much cheaper while offering a much wider list of features. Let’s take a look at TabTrader first.

A list of exchanges which TabTrader allows traders to connect with.

A list of exchanges which TabTrader allows traders to connect with

Key features

Looking at TabTrader does not take very long. The application has few advanced options to offer and even the PRO version does not make up for that.

Key features. Looking at TabTrader does not take very long.

Opening the menu on the left gives you a profile, TabTrader PRO, news, support, community, and settings. The profile tab seems useless, with yet again an option to sign up for the PRO version and two-factor authentication which could be placed under settings. The news section is only provided for English readers.

Although TabTrader makes it possible to connect with several exchanges, there is no aggregated overview of your portfolio.

Although TabTrader makes it possible to connect with several exchanges, there is no aggregated overview of your portfolio. Tracking wallets outside of your exchange accounts is also not provided. You can only see a portfolio overview per exchange individually. Connecting exchanges is made very inconvenient. When you try to connect any exchange via the QR code, the system says  ”exchange-issued QR-code not supported”. So you have to either generate a QR-code from TabTrader’s website or paste the ‘key’ and ‘secret’ codes, all manually. This is not secure and very weird.

Trading itself has several setbacks. Every step of the process is a whole different screen, this means that you will not have your eyes on the chart nor the order books when placing trades. A disadvantage for ‘scalpers’ and margin traders that rely on instant market movements. That said, the order books have a delay of 1 to 3 seconds, not very attractive to work with!

Exchanges

TabTrader is only available for mobile devices, yet, it leaves iOS users disappointed with no option to trade. TabTrader can be connected with the following exchanges: Binance, BitBay, BitBNS, Bitfinex, BitMEX, Bitstamp, Bittrex, BL3P, Bluetrade, CEX.io, Coinbase, Coincheck, CoinDCX, CoinFLEX, Consbit, Currency.com, Deribit, EXMO, FTX, Gemini, HitBTC, Huobi, Indodax, ItBit, Kraken, KuCoin, Lykke, MercadoBitcoin, OkEX, Poloniex, TheRock, Timex, TradeSatoshi, Vaultoro, WhiteBIT, and Yobit. Although the list seems impressive, plenty of these exchanges hold little trading volume and would easily cause slippage when market trading. Once connected with an exchange through API, Android users can place trades on any market these exchanges offer.

Derivatives trading is only possible through two of the exchanges in this list, BitMEX, and Deribit. Besides that, two exchanges are being pushed onto traders as a promotion, BitMEX, and currency.com, which don’t show any additional value over other exchanges. Even worse, BitMEX has recently been probed by the CFTC.

Watchlists

When opening the application for the first time, there is a very limited watchlist with only four main markets, BTC/USD, XBT/USD, ETH/USD, and EUR/USD.

When opening the application for the first time, there is a very limited watchlist with only four main markets, BTC/USD, XBT/USD, ETH/USD, and EUR/USD. Besides that, a promoted watchlist by currency.com. This promotional list is rather annoying, especially since there is already a constant and annoying advertisement banner on the top or bottom of the screen. A list of cryptocurrencies sorted by market cap is missing, which means that every single market you want to track needs to be added manually. An overall portfolio overview is not included, only individual exchange account balances and you can only connect one account per exchange.

In comparison, Good Crypto offers you an overview of the whole crypto market, including sorting options that show you the best or the worst performing markets and much more. On top of that, you can track your blockchain wallets and even turn on alerts for transactions, see your overall portfolio performance, and all of this in beautiful diagrams. 

Trading

Modern-day cryptocurrency trading is majorly dominated by margin trading, however, TabTrader is once again not up to date and only provides two markets that offer leveraged trading. Deribit and BitMEX. On top of that, Deribit has a lot of slippage and the CFTC has recently probed BitMEX. Can you short with TabTrader? Yes, but it’s not advised because of the reasons described.

Trading in the application is easy, but yet again very outdated. This is because Tabtrader works on the exchange side only. How does this affect trading? When placing trades, you will see your account balance frozen which is not allowing any flexibility. Order types include: Market order, limit order, stop-loss order, take profit order, and settle orders. But important to know is that TabTrader will not offer any other order types as supported by the exchange you are connected with. This makes TabTrader a useless third-party application. Trading with TabTrader does not come close to what Good Crypto offers.

The application does not provide you with the information if an order has been filled, it only places a simple price level alert. Additionally: order books show a 1 to 3-second delay.

The application does not provide you with the information if an order has been filled, it only places a simple price level alert. Additionally: order books show a 1 to 3-second delay.

Good Crypto will not freeze your balance, offers more advanced orders including trailing stop orders and it provides you with the ability to connect orders. This means when one order is hit it will trigger one or more orders you have attached to it, very useful! For example, you can place a buy order at a support level. When the buy order on the BTC/USD pair is triggered at $15,000, it can automatically place a take profit sell order at $20,000 and a stop-loss order at $14,000. This kind of set-up can be created several times because Good Crypto does not freeze your balance. 

An example of the advanced order options presented in Good Crypto, and the ability to drag them on the chart.

An example of the advanced order options presented in Good Crypto, and the ability to drag them on the chart. This example shows a BTC/USD short. The order is sized 1 BTC and has a stop loss at $17,665.30. The take profit order will execute exactly after the price drops 5.67%. A trailing stop is triggered once the price has reached $16,700.00, with a trailing distance of 5%.

TabTrader’s exchange rates are not existing, the application is not asking for any commission and the only exchange fees you pay are those charged by the exchange you use. The very same applies to Good Crypto. A subscription is the only potential cost.

Charts and indicators

TabTrader charts are easy to work with. They are dynamic and take up the whole screen. However, this is not convenient for trading. A trader would ideally place trades while looking at the chart, especially when scalping or high-speed margin trading. When placing trades, you are taken to another page completely. The full-screen charts might be an advantage for some, but to active traders, it will simply show a lot of empty unused space.

In the free version, you can add arrows, rays, trend lines, vertical lines, horizontal lines, parallel channels, Fibonacci arcs, Fibonacci levels, rectangles, and text. You can see the price live as candlesticks, a line or line with area, bars, Heikin-Ashi candles, and hollow candles. 

The free indicators and oscillators include Accelerator Decelerator Oscillator (ADO), Awesome Oscillator (AWO), Bollinger Bands (BB), Exponential Moving Average (EMA), Moving Average Convergence Divergence (MACD), Relative Strength Index (RSI), Simple Moving Average (SMA), Smoothed Moving Average (SMMA), Trading Volume (VOL), and Volume Adjusted Moving Average (VAMA).

You can save 5 different layouts across all of your charts and add 10 indicators, which is very limited.

You can save 5 different layouts across all of your charts and add 10 indicators, which is very limited.

Alerts

The free version of TabTrader allows you to place up to 150 alerts

The free version of TabTrader allows you to place up to 150 alerts, activated when hitting the price you set them at. Disturbingly, there are no alerts triggered when filling an order, besides the traditional price alert the app offers. This makes it possible for traders to miss out on their action, have orders filled only partially or not at all without notice. We can conclude that the alerts are not optimized for trading at all.

In turn, along with order execution and versatile price alerts, Good Crypto provides new exchange listing alerts, which might even be earlier than the official announcement. This is possible because Good Crypto is tracking the index of exchanges. On top of that, you receive alerts based on major price swings, a daily market summary set at the time of your choice, order fills, or even movement alerts on DeFi markets. Good Crypto is making sure you don’t lose out on where the hype is at, giving you a strategic advantage over other traders.

Good Crypto will soon be updated with new charts, and provide alerts based on indicators, oscillators, or trendlines. 

Tabtrader bad client reviews

The fact that TabTrader makes the most revenue based on advertisements is obvious and very bothersome. As a result, we see plenty of negative Tabtrader reviews and customer complaints because of the ads. Besides the advertisements, which seem to become bigger over time, there have been no developments to justify them. The Telegram chat is full of requests, and although there is a Trello that collects these requests, implementation is not happening. Crypto is a world that moves at a fast pace, and if an application can’t keep up with the market, it will be left behind.

User reviews are still being responded to, and the live chat on TabTrader’s website was responded to within 15 minutes. Sadly enough, replies seem to be copy-pasted and the live chat was very unclear, written in poor English.

Google Play Store User Reviews

Google Play Store User Reviews

When trying to connect the application with Binance we failed using the QR-codes. It seems like this issue was already known in August, but has not been fixed during all these months. Disappointing.

App Store Reviews

App Store Reviews

Tabtrader Pricing

TabTrader has both a free version and a PRO plan. The biggest advantage of the paid plan is having no advertisements. According to the CEO, ads are the main source of income for TabTrader. This makes sense since the expensive price asked for PRO doesn’t seem to be worth it. You can decide for yourself if removing ads is worth an expensive €11.99/month.

The paid version will provide you with

  • unlimited watchlists, instead of a maximum of 10 with 70 pairs each
  • unlimited alerts, instead of a maximum of 150
  • no advertising
  • extra indicators for charting such as the Aroon (ARN), Aroon Oscillator (ARNO), Average Directional Movement Index (ADX), Average True Range (ATR), Chaikin Money Flow (CMF), Commodity Channel Index (CCI), Directional Movement Index (DMI), Elliot Wave Oscillator (EWO), Fisher Transform (FT), Hull Moving Average (HMA), Ichimoku Cloud (ICH), Intraday Momentum Index (IMI), Keltner Channels (KC), Median Price (MP), Money Flow Index (MFI), On Balance Volume (OBV), Parabolic Sar (PS), Stochastic Oscillator (SO), and Stochastic RSI (SRSI).

TabTrader pricing is €11.99/month or €119.99/year. This is significantly more expensive than Good Crypto, which is available for €9.99/month or €59.99/year while providing more features.

Lifetime access to Good Crypto is offered for €199.00.

Is TabTrader Safe?

TabTrader is constantly trying to increase the safety of its application. They do this by forcing 2FA-authentication upon users. This means that every time you want to open TabTrader, a unique code has to be entered. Alternatively, users can enable pin-code protection.

When addressing Tabtrader’s security we have to mention how strange it is that the QR-code scanning feature does not work properly. This means that you have to send the actual string of code towards yourself in another way or leave it at TabTrader’s webpage. Not secure! API codes should never be sent around. Updating the way TabTrader account API connectivity is handled should be a priority for the app developers, yet it doesn’t seem to be. This is not making TabTrader feel trustworthy.

When connected, traders can only track the balances on their exchange accounts. It’s never recommended to store funds on an exchange, though. Good Crypto also allows you to connect and track your private blockchain wallets. 

Overview

Let’s list out the pros and cons of TabTrader

Pros

  • Supports about 500 currencies and 36 exchanges
  • A nicely organized news section
  • A clean looking interface with big charts
  • Price updates are live
  • 2FA-authentication
  • About 150 basic price alerts

Cons

  • Every market you want to watch has to be added manually
  • Most exchanges offered are only offering markets with very low liquidity
  • The news is only available in English
  • Placing orders will freeze your balance
  • Orders are very basic, and even the PRO version does not include trailing orders or order linking as Good Crypto offers
  • Price alerts are only based on the price, not on indicators or market movements
  • A weird way to connect your exchanges through QR-codes, which seems to have been around from the very launch of the app
  • Developments have stagnated and seem not to be happening at all. The term abandonware is often quoted in the reviews
  • Trading is not possible in the TabTrader iOS version, only in the TabTrader Android app
  • There’s no overview of the market and discovering trending currencies is impossible
  • The PRO version is expensive but offering very little
  • Advertisement banners are becoming bigger over time
  • The most liquid margin trading markets aren’t offered
  • The collaboration with currency.com feels intrusive and does not add any value
  • Order books show a delay of 1 to 3 seconds
  • No blockchain wallets tracking
  • No new exchange listing notifications
  • No desktop version available
  • No general overview of a portfolio, only individual exchange account balances

Good Crypto, a better and cheaper alternative to Tabtrader

Good Crypto, a better and cheaper alternative to Tabtrader

In comparison with TabTrader, Good Crypto has a very active community and a very active team of developers. It’s a powerful app that integrates advanced tools into its cross-platform service. While only being one and a half years young, the Good Crypto team already delivered much more functionality than Tabtrader did in 5 years. Good Crypto makes trading possible on desktop and mobile for both Android and iOS and much more.
Good Crypto provides you with an extended market overview, allows you to connect with 27 exchanges, and offers advanced trading options like trailing stop orders.

Good Crypto provides you with an extended market overview, allows you to connect with 27 exchanges, and offers advanced trading options like trailing stop orders.

Feature

Tabtrader

Good Crypto

Cross-platform availability

iOS (no trading), Android, Web (beta only, no trading)

iOS, Android, Web-version

Market Data

35 exchanges (only 26 quality exchanges)

27 exchanges (including Uniswap) and more added continuously

Portfolio Tracking

No wallets

Wallets & Exchanges

Trading Functionality

    • Android only
    • Spot & derivatives 
    • Only the exchange its native functionalities
    • No order execution alerts
    • Showing open and executed orders on the chart
    • No on-chart price dragging
    • Across 3 platforms
    • Both spot & derivatives
    • Normalized (work across all exchanges in the same way)
    • Advanced order types: Stop-Market, Stop-Limit, Trailing Stop, Trailing Stop Limit, auto Take Profit, auto Stop Loss, Trailing Take Profit, concurrent take profit and stop loss
    • All conditional orders do not lock your balance until triggered allowing multiple orders/grid trading, etc.
    • Order execution and status change alerts
    • Does not show open and executed orders on the chart (this will be integrated soon)
    • Can drag price lines on the chart to set order price or alert level

Alerts & Notifications

    • Price level alerts only
    • No alerts for filling orders
    • No alerts based on indicators
    • No price change alerts
    • Smart/auto alerts: sudden price changes, top 25 coins vs BTC price changes, top DeFi coins price changes, market summary 1-24 times per day, and Portfolio changes
    • Transactions/exchange deposits
    • Order executions 
    • Portfolio summary 1-24 times per day
    • Custom alerts: price level reach, price change with custom % and period, price channel enter/exit
    • No technical indicators alerts (yet) 
    • Exchange listings alerts

UX\UI

    • Not intuitive, sometimes overly complicated for beginners
    • Screen space not used optimally
    • A different screen for each function
    • Simple and intuitive
    • Both light and dark
    • Screen space used optimally by combining the trading terminal below the charts

Charting and Technical indicators

Solid and smooth charting with 10 free indicators and 19 advanced ones in the PRO version

No charting tools and no technical indicators (to be launched soon)

Working speed

Good

Good

Ads

Many and big

No ads

Pro Plan

No ads, more technical indicators, active alerts, watchlist, and chart layouts

Unlimited wallets and exchange accounts, Advanced orders, exchange listing alerts, and a lot more to come

Conclusion

Good Crypto makes it possible for both beginning and advanced traders to be more profitable. There are several ways why this statement stands. To start, there’s a market overview, every single cryptocurrency can be found within the application, showing every single market available. Filtering options make it possible to find the most trending and hyped markets. In case you missed something, you can always turn on notifications for new exchange listings and find yourself in a strategic advantage over the market.

Secondly, advanced methods of creating orders are only possible with Good Crypto. TabTrader only offers exchange-native orders, which for most exchanges means supporting only basic order types that also freeze your account balance. Good Crypto made it possible to create an infinite amount of orders, and you can program additional orders to be placed the exact moment an order is filled. 

Finally, we can conclude that TabTrader is an application that has been left behind. Good Crypto, a young and vibrant new platform, creates a much better trading experience, it allows more secure tracking of your funds and keeps updating for a cheaper price. Join the conversation in the Telegram chat.

Good Crypto is available for €9.99/month or €59.99/year. Lifetime access is offered for €199.00.

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January 14, 2021

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