TabTrader App Review 2020 - Is It Safe To Use?
TabTrader is an application aimed to make the trading process on third party exchanges easier. The app lets traders apply its indicators and tools while trading on one of the supported exchanges. The list includes 36 cryptocurrency exchange platforms. Such top exchanges as Binance, Coinbase, Gemini, HitBTC, Kraken, ItBit, Huobi, OKEX, KuCoin, Poloniex, Bitstamp, Bittrex, Bitfinex, and others are supported by the TabTrader. The app provides traders with certain alerts, clear market trends, and profit estimations. The app is distributed via the App Store and Google Play for free.
Where TabTrader is Located?
Currently, the app is available in 174 countries. It is used by roughly 400,000 traders. According to the TabTrader website, the company has headquarters in Amsterdam, Netherlands. The key posts in the company are occupied by Russians.
All the functionality is presented in the mobile app making it possible to trade on multiple exchanges controlling all portfolios via the single dashboard. TabTrader lets placing orders, reacting on them, and tracking specific coins. The app is capable of monitoring the charts of the exchanges so the users can quit wasting time on that. All the desired information arrives in the form of push notifications. TabTrader doesn't have access to the users' wallets. It uses API keys to manage the user accounts on exchanges.
The app is incredibly lite — it reacts quickly and takes only 9 MB on the hard disk. The interface is available in 10 languages: English, Spanish, Indonesian, Portugal, Vietnamese, Russian, Arabic, Simplified and Traditional Chinese, and Hindi.
The interface is quite intuitive. It has three main tabs in the bottom part of the screen: Accounts, Watchlists, and Alerts. In the Accounts tab users can add the accounts on crypto exchanges that they want to manage via the app. To do so one needs to tap on the +Account button and choose the exchange from the list. Adding some of the exchanges requires registration. Others can be added without it. When adding the new account, users should provide API key, Secret key, and User ID. The Watchlists tab provides the customized info from all the connected accounts. The Default section of the Watchlists tab displays the exchanges sorted by the cryptocurrency pairs or vice versa (cryptocurrency pairs sorted by the exchanges). Users are free to adjust the form they wish to see the data displayed to make it more comfortable. The data can be viewed as a list or boxes. The pairs can be sorted by prices (from minimum to maximum or vice versa) or by the change percentage. Another section of this tab is the Currency.com section. It features the data from the markets available on the Currency website. There are fiat-to-crypto pairs, Silver, Brent Oil, Palladium, Apple and Tesla stocks, and many other assets and pairs. And, finally, the third tab is Alerts. That's where users set the alerts they want to receive in order to get the most important information from the markets on time.
How to Use TabTrader?
After signing in, the user can access the trading interface. In the Default tab, there are four options: XBT/USD pair on Bitmex, ETH/BTC on Binance, EUR/USD Leverage on Cryptocurrency.com, and BTC/USD on Bitfinex. Any moment, users are free to add other tickers.
Tapping on any of these options brings users to an exchange page. The page features the current price for the pair (it adjusts real-time), asks, bids, 24-hour change and volume, low and high. Below there are four tabs: Orderbook, Chart, Last Trades, and Alerts.
Orderbook tab contains the order book (it's understood), and the preferences menu in which one can adjust which columns should be displayed, adjust the Orderbook depth, switch the form of Histogram from sum to size, set the single tap and long-press actions (if one of them is used to make orders then the other will call alerts).
The Chart tab is similar to many exchange overviews. It has a candlestick chart and numerous indicators can be applied. By default, the page contains alerts, orders, shapes, trades, indicators, and local minimum and maximum. Traders can use rays, trend lines, parallel channels, text, and many other tools in order to make the chart more convenient.
The Last Trades tab shows the full list of all trades in the chronological order. There is nothing to add about it. And the Alerts tab contains the list of all alerts set by the user. By default, this section is empty.
The new orders can be placed via the "+" icon on the main page. The app displays the available exchanges and the user chooses the proper one and fills in the details.
Is TabTrader Safe?
It is not known much of the security of this app. Many people say that if TabTrader is a scam, they might abuse their access to the user exchange accounts. However, that's not that case because TabTrader doesn't in fact have this access as the exchange activity is managed via the API keys. The company has existed since 2015 and so far there were no solid reports of misconduct on the web. The users who compromise their API keys can lose their money on TabTrader. Such cases exist.
Some users on social media claim that the app crashes from time to time. They get contacted by the TabTrader representatives. Probably, the issues get solved via direct messaging. In general, TabTrader is a legit app, popular for a good reason.
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