In this article, we'll show you how to start an investor account on Coinmatics.
Step 1 — Registration
To register on Coinmatics, click the "Get Started" button and enter your email. You can also use your Google or Twitter account to register. In this case, the email will be taken from the respected account.
If you register with your email, we'll send a confirmation message with an activation link:
Click the button in the received message, and you'll be redirected to a window where you can complete your registration by creating your username and password:
Once you create an account, you'll be offered to enable two-factor authentication. It's optional but we recommend this option for security reasons.
Step 2 — Exchange account
Now you need to link your exchange account to the platform. We'll explain it on Binance and OKEx examples. The same steps should be taken for any other exchange.
Coinmatics learns about your trading activity via an API connection. Therefore, you need to use your API key to link the platform with your exchange account. Go to the Accounts tab and click the "Add account" button. You'll have an option to create a brand new API key or use an existing one (that you've already created on your own). Whatever you choose, our 4-step setup guide for Binance or 3-step setup guide for OKEx will ask for your API key details on step 3. You’ll need to provide both your API key and its secret key. To add the OKEx API key it’s also required to add a passphrase.
Please note that Coinmatics supports OKEx V5 API key only.
Here's a video tutorial on Binance example:
On Binance, as an investor you need only the "Enable Reading" and "Enable Spot & Margin Trading" options in API restrictions. If you plan to subscribe to a Futures strategy, you need to select "Enable Futures" as well. And don't select the "Enable Withdrawals" option. This ensures that your balance remains under your total control.
On OKEx, you need to enable "Trade" and "Read" permissions to be able to follow and copy the strategy. The same as with the Binance API key don't select the “Withdraw” option, please.
Please note that Coinmatics supports only Spot trading on OKEx and can copy deals on the Unified account only. The deals on the Classic account will not be copied.
Once you've linked your API key, it's time to pick a strategy to follow.
Step 3 — Strategy subscription
Go to the Copy Trading tab and browse the strategies rating. You can select "All" in the quick filter to see all available strategies on one page. You can also sort the list however you like to quickly find the strategies that suit your needs.
When choosing a strategy, pay attention to the following details:
- How long has the strategy been active on Coinmatics
- How big is its total profit
- How risky it is
- It's rating
- When the latest signals were generated
Some strategies become inactive from time to time. It happens because the trader does not see good entry points and prefers to pause the deals and wait for more favorable market conditions. It's no use subscribing to an inactive strategy so make sure to check Signals History to make this moment clear.
Once you select the strategy, click on its name to open the strategy page. Here you decide whether you want to follow it in manual or automatic mode. Manual mode means that you'll receive signals about strategy deals in your Telegram and will have to repeat them on your account yourself. Automatic mode means that our system will copy the deals from the strategy, and you only need to check them from time to time. Note that both modes can be free or paid — it depends on the strategy. You pay the subscription cost with your Coinmatics balance. Learn how to deposit money to Coinmatics here.
To subscribe to the manual mode, click the "Subscribe" button near the "Telegram signals Cost" on the strategy card. A pop-up window will appear where you'll need to select the Telegram account that sends signals about the deals. It's our bot called @ctt_copy_trading_bot — you can add him manually to your contacts in Telegram or go through our wizard by clicking the "Add new account" button. This button will redirect you to Settings -> Telegram IDs where you need to add an account in the Copy Trading section.
Here's a video instruction:
To subscribe to the automatic mode (auto trading), click the "Subscribe" button near the "Auto Trading". If you still haven't linked any API key, the system will prompt you to do that. If you already have, you'll be able to select that key from the dropdown list to confirm the subscription. Note that most strategies require you to have a minimum exchange balance to subscribe. It means that you must have the specified amount (or more) on your Binance balance in order to finish the subscription process. Usually, this amount is 150 USDT. Once you pass this check, you'll be offered to do the auto alignment procedure. You can allow the system align your portfolio with the strategy or do it yourself manually — your choice. After this step your subscription is active!
Here's a video instruction:
Note that you need to check your copy trading results from time to time in order to make sure that everything goes smoothly. If you encounter errors in your copy trading activity, check our troubleshooting guide.