Immediate Edge aims to do what it says it will, and that is to give traders a significant advantage when approaching volatile crypto markets. This automated trading software, also known as a trading bot, could well be the weapon you need in your arsenal to snatch profits from the market and pave the way to consistent gains. But why use a bot at all?
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Immediate Edge aims to do what it says it will, and that is to give traders a significant advantage when approaching volatile crypto markets. This automated trading software, also known as a trading bot, could well be the weapon you need in your arsenal to snatch profits from the market and pave the way to consistent gains. But why use a bot at all?
The problem with most inexperienced traders is that they tend to get in their own way. What does that mean? It means that they tend to trade according to feelings, gut instincts and emotions. Trading themselves in this way is the opposite of what experienced and professional traders do.
The very best traders do what they can to bypass their emotions and trade in a pragmatic way according to broader fundamentals or macroeconomics and the confluence of a number of important indicators. This is pretty much an art form that can take years to master. So what to do if you are a complete novice and have little time to spare? In this case, you might consider using an algorithmic cryptocurrency trader – a trading robot.
Robots are set up to trade when certain parameters are met. If the price drops to a certain level and the RSI falls into oversold territory for several periods, a bot like Immediate Edge will automatically buy. Knowing that these triggers are in place leaves the trader free to pursue their trades while their trusty bot hopefully pockets profits. In this review, we have tested Immediate Edge and will go into more detail about what it can do, how it can generate passive income and the pros and cons so you can decide whether or not it is right for you.
What is Immediate Edge?
Immediate Edge is a fully automated trading software that integrates with trading platforms with the aim of providing a trading experience in cryptocurrencies that is not only exciting but also profitable. According to the Immediate Edge website, the software is a product of advanced programming techniques guided by superior technology. As such, the website claims, the software has a market advantage that keeps it ahead of the competition.
Who is behind Immediate Edge?
Immediate was founded in 2018 by Edwin James. Edwin is a former professional forex trader who switched to trading cryptocurrencies during the bitcoin rally in mid-2017. With good experience in software development, he undertook to develop a trading system that would help users take advantage of arbitrage opportunities in the cryptocurrency market.
Although Edwin James is a popular figure in the cryptoverse, there is no information to suggest that he has worked on other similar projects. Suffice it to say that Immediate Edge is the product of an 18-member team with Edwin as its leader.
How to use Immediate Edge
Account registration
Only a few details are required to register an Immediate Edge account. You provide your first and last name, a valid and verifiable email address and an active phone number. We recommend providing truthful information to speed up the verification process. Once all fields are filled in, click “Register” and give the system a few seconds to verify the details. Once verified, you will be passed to a broker – usually one that the Edge software has determined to be the best fit for the best trading experience.
Deposit money into your account
Once the account is set up, you have the option to fund it so you can go straight to live trading. However, there is always the option to try out the software and trading platform with the demo account before moving on to live trading. Note that you can only fund your account after you have been referred to the most suitable broker. The software will match you with a broker that is in the same jurisdiction as you or has a licence to operate in your location to optimise operations and customer support.
Demo trading with Immediate Edge
The Edge app enables demo trading. Users have the choice to open a demo account before funding their account. This is to ensure that you start autotrading without the risk of losing money. During the demo trading session, you will learn how to use the trading software and how to set up the trade to minimise risk and increase profitability. In particular, this session is designed to help you develop better risk management techniques using tools such as stop loss and take profit.
Start trading
In addition to demo trading, Immediate Edge offers educational resources for further training. The reason for this is that a better understanding of how the trading platform works with embedded trading software increases the chances of getting it right and making the most of the platform. After you have gained enough confidence, it is time to make your first trade. Our advice is to start small, preferably with the smallest deposit allowed, and grow slowly. The idea is that in your early stages of trading it is important that you limit losses to small amounts that do not affect your confidence too much.
Main features of Immediate Edge
With an Edge account, you have the opportunity to experience the world of automated cryptocurrency trading at its best. But what are the features that make the software stand out?
Payouts
The Immediate Edge website prominently displays information claiming that the software has made a daily profit of between $950 and $2,200. This is a bold claim that we cannot promise the trading robot, as it is important that certain conditions are true. For example, a user must have a sufficient deposit to maximise the leverage of each trade. Secondly, users must have used the software long enough to understand how to minimise risks.
Verification system
Once you click on the “Register” button, the website automatically redirects you to an affiliated broker. In our case, the broker was a popular player dedicated to trading cryptocurrencies from our region. The details check begins after you have entered all the required information into the trading platform. The required information includes physical address, place of residence, date of birth and country of residence. The information you entered at the registration stage is automatically copied into this new session. Verification only takes a few hours. Within this time, a customer service representative from the broker will call you to verify the details. At the same time, you can report any problems you have with the platform.
The withdrawal process for Immediate Edge
The withdrawal process starts with you submitting a request, which is processed within a few minutes. In the withdrawal request, you specify the amount of money you want to withdraw and in which currency. Edge will only allow cryptocurrency withdrawals if you have entered the correct details into the system. It helps a lot if you fund your account through a payment processor that supports cryptocurrency transactions. Once you send the request, a notification will be sent immediately to let you know that the team is working on the transaction. Depending on the payment provider used, users can receive the money in the bank accounts at different times. Nevertheless, the average waiting time is less than 24 hours. Furthermore, there are no fees for this transaction, which means you claim 100% of the funds in the account.
Costs and fees
Edge is one of the most transparent trading platforms in our experience when reviewing automated trading systems. The ‘My Account’ section of the trading platform allows you to view balances of your activity, so you can easily track your money. The platform records every loss and profit and as there are no deductions such as commissions, your funds remain untouched. Obviously, you’d say so if you were charged hidden fees, wouldn’t you?
Customer Service
Your first contact with Immediate Edge’s customer service is at the point where you are called to check the details provided. This happens immediately after completing the registration process on the trading platform. The broker will also send you an email with instructions on how to download your preferred trading platform (e.g. MT4 or MT5). Some simply stick to the web-based trading platform. In our case, the affiliated broker’s website had a chat function through which we could communicate with customer service. However, we found the telephone to be the quickest and clearest way to get help.
Affiliated brokers
After we registered, we were matched with a broker that we felt was reputable and regulated. We are sure that the broker you will be working with will have the same credentials, as Edge states on its Terms and Conditions page, specifically in the “DESCRIPTION OF SERVICES” section, that all of its affiliated brokers are regulated by reputable authorities from around the world. In our case, the broker had a valid licence from the Malta Financial Services Authority (MFSA).
Is Immediate Edge a scam – our experience?
Is Immediate Edge a scam or legal? We have no doubt that this is a lingering question as soon as you open the Immediate Edge website. But we understand your reservations, because the crypto space is teeming with scammers masquerading as legitimate software providers, but whose real intention is to make you lose your hard-earned money. For this reason, we delved into the internet, where we spent hours searching for information that could indict Immediate Edge.
All we found were hundreds of testimonials praising Immediate Edge for giving them a positive crypto trading experience. Some reviewers noted that the software’s win rate was commendable and that many users enjoyed the support of affiliated brokers. However, keep your eyes open, we also found online reviews from disappointed users.
Immediate Edge review: What differentiates it from competitors?
When you compare Immediate Edge to many other trading bots like Yuan Pay Group or Bitcoin Trader, it’s well worth a look, but not for the reasons you might expect. Given the lofty claims of a 99.4 percent success rate on various review sites, we decided to put Immediate Edge through its paces to see what we would find. Check out our methodology below for a deeper look into our process.
What we found in testing was surprising: while Immediate Edge underperformed in most areas and did not come close to matching the returns of its peers in highly volatile markets, it excelled when markets moved very slowly.
At this point, Immediate Edge managed to live up to the high expectations of some of its more enthusiastic reviewers. That aside, the bot was lacklustre, delivering returns of between just 20 and 30 per cent. But in a sluggish environment, typically in traditionally slow months or periods of macroeconomic uncertainty, when both volume and volatility were very low, Immediate Edge leapt into a league of its own.
Immediate Edge: Our conclusion
Although Immediate Edge is pretty much bottom of the class when it comes to making profits in fast-moving markets, it outshone all the competitors we tested when it came to low-volume, low-volatility environments.
For this reason alone, it’s worth considering Immediate Edge as your bot of choice for the slow summer months when trading volumes are down, or in times of uncertainty when institutional traders tend to sit on their hands.
Not only do Immediate Edge owners have a bot that thrives in poor conditions, but they also have the advantage of not having to spend a lot of time in front of the screen during these generally dull times.
As a backup for when volatility strikes and you don’t want to fall asleep at the wheel, it might be worth using a more adaptable bot like Yuan Pay Group, which is a decent all-rounder. Having the two bots work side by side could be a good strategy for those who want to maximise their profits when the markets are less than exciting.