HyperTrader is a trading terminal that supports simultaneous trading on multiple exchanges like Binance and Kucoin, with amazing new features like indicators and charts not available on the exchanges, innovative ways to place, modify orders and cool analysis & reporting tools.
It is after a few weeks since I discovered HyperTrader that I sat down to review it. Amar Gautam, the co-founder is part of Coin Crunch’s telegram group and always concerned if it okay to share an update of the same on it. Finally when he told me that the final update for HyperTrader scheduled in the current period is out, it was time for a review.
What is HyperTrader?
HyperTrader is a native desktop trading terminal for Windows, macOS, Linux. And it is free for now, while it is in Beta.
Once downloaded, a user can register with an email address and login via the security code sent to the email address. There is absolutely no chance of losing your funds as they are not stored on HyperTrader, so keeping a simple OTP based login is quite easy for user experience.
Inside the platform user can choose the exchanges where they wish to trade, by adding the API keys of your accounts on those exchanges. You can set up different portfolios, multiple accounts and track them all on the terminal.
The terminal also has Crypto Screener, Reporting tools, Crypto News, Social media and many upcoming features like Algo trading, Trading bots and signals.
Adding an Account on HyperTrader
Since HyperTrader is a trading terminal and not an exchange, users must add their existing exchange account on it by adding the API keys.
These API keys connect HyperTrader with your exchange account and let you trade on the exchange from HyperTrader terminal. We will talk about the advantages of doing so, further in the article.
You can add a trading account from the Trading Screen, the portfolio Screen, from reports section or settings. Once you click on Add Account, a form opens.
- Enter the Portfolio Name
- Choose the exchange from drop down
- Enter the API keys that are available on the exchange after you login.
You can add an account from exchanges like Binance, Kucoin, CoinBase, CoinBase Pro, Binance US, Binance JE and more.
Hypertrader will be adding Derivatives exchanges like Binance Futures, Deribit, etc as well.
Trading on HyperTrader
For a trader, two things are important. To be able to Buy or Sell a cryptoasset and to be able to do it with ease. I feel HyperTrader nails it when it comes to trading. Here are some of the features that I personally loved.
Multi-Screen Trading Terminal
While you can trade on multiple exchange accounts on HyperTrader, you can also track the prices of multiple crypto assets or same cryptoassets on multiple exchanges on HyperTrader.
User can split the screen into several terminals as required with as many markets to monitor and trade. Here’s an example
Orders Modifiable on Charts
This particular feature is my absolute favourite. A user can simply enter the price for Buy or Sell and then change it by dragging the indicator on the chart. Similarly, user can place an order and modify the price by dragging the indicator on the chart. Literally a life saver when you quickly want to change your order.
Here’s a GIF demonstrating the feature.
Multiple Types of Orders and Indicators
Using HyperTrader user can trade on Binance, Kucoin, Coinbase and other exchanges and also take advantage of different types of orders available on the terminal.
Users can place Limit, Market, Stop Limit, Ladder and OCO orders.
At the same time, several indicators on the chart can also help make informative decisions, such as
Breakeven points, showing exactly at what price your purchase can break even.
The PnL Analysis tool on HyperTrade is gives an accurate analysis on a trading pair a user has traded on and how much profit or loss they have made. The analysis tells us winning days, losing days, realised and unrealised profit, total number of trades and more.
I find this exceptionally helpful for someone who wants keep track of their trades and performances.
This is the place where you can the prices of the cryptoassets, almost all of them. I enjoyed that the screener lets me see the price in INR. They aren’t correlated to the Indian Exchanges so the premium isn’t taken into consideration, but INR prices for all crypto in one place is actually quite a pleasant site.
The currency can be changed from settings at any time.
More Tools to Check Out
There are several other tools on HyperTrader worth checking out. One is the portfolio tool, showcasing your portfolio in a pie chart, in INR value, the change in value and your best and worst performing investment in the last 24 hours.
Users can switch between light and a dark theme.
Users can actually sign in on Twitter and use it from the app.
The News feature of the app showcasing crypto news from major portals.
Both App and Charts layouts and features can be customized per user needs.
Users can choose to try out Beta and Experimental versions of the app if they feel adventurous as well.
There are several upcoming features to look forward to on HyperTrader.
The Final Review
Whether you are a newbie trader or a regular trader, once you use a trading terminal, you might not want to go back to the exchange. The basic principle is that trading terminals need to be better than the exchange, otherwise what is even the point, right?
HyperTrader has a great UI, intuitive and robust. There are several things you can use HyperTrader for, besides trading. I personally love the reports where I can see my profit and loss in real time. I also love the feature to modify orders from the chart itself. I think that one is by far the best innovation I have seen in this space.
I recommend giving the app a try. The APIs required to enter do not need a withdrawal permission, so no one can use HyperTrader for withdrawing crypto from exchanges. Try it for a new trading experience.
Currently the terminal is free to use as it is in Beta, with exclusive offers for Coin Crunch users coming in the future with 15% discounts. Do be part of the Coin Crunch Group to know about it first.
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