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Composer Trade Review: A Guide to Algorithmic Trading

Composer Trade Review

Ever wondered how you could boost your investment game? Well, this Composer Trade algo trading tool might just be the game-changer you’ve been looking for. In this detailed Composer Trade review, we’re going to explore the pros and cons of this platform. We are about to discuss its features, pricing, and what makes it stand out. So, let’s dive in and see if this firm can elevate your experience in algorithmic trading!

General information
Name Composer Trade
Type of company AI Trading Tool
Regulation status Not expected
Warnings from Financial Regulators No official warnings
Website link https://www.composer.trade/
Active since 2021
Registered in Toronto, Ontario, Canada
Contact info [email protected]
Trading platforms Composer
Majority of clients are from United States, Canada, United Kingdom, India, Australia
Customer support Email 
Compensation fund No

Getting to Know Composer Trade

Composer is all about empowering investors with smart algorithms and automated strategies. We like the features they offer, especially the eye-catching web page design! 

In a market where hedge funds usually call the shots, the Composer trading platform opens the doors for average investors to trade like the big shots on Wall Street.

The platform introduces ‘symphonies’—specific portfolio strategies that are automated to deliver solid returns with minimal ups and downs. Testing these strategies with historical data gives you a peek at their past performance.

Pricing Options: Breaking Down the Plans

Now, let’s talk about pricing here. The Free plan gives you loads of access, allowing you to build, edit, and backtest as many strategies as you want.

But if you’re looking to dip your toes into automated trading, that’s a privilege reserved for Pro plan users. Notably, it costs $30 per month or $288 per year. And here’s a bonus: the Pro plan comes with a 14-day free trial for you to explore.

For those venturing into automated trading, this tool suggests a minimum deposit of $2,500. While you won’t find any Composer Trade fees, keep in mind that regulatory fees apply to each transaction.

Symphonies and Symphony Editor

Here, trading strategies wear the interesting name ‘symphonies.’ Dive into a variety of symphonies created by the team and fellow users. The Symphony Editor, a UI-friendly visual editor, lets you build, tweak, or borrow existing symphonies effortlessly.

You can create triggers based on price, return over a custom timeframe, moving averages, or RSI. Customize conditions for buying or selling—weigh positions equally, based on market cap, specific amounts, or volatility. It’s your trading symphony, play it your way.

Automated Trading

For Pro users, this tool offers automated trading through Alpaca, and guess what? No commissions are there! Trades happen in batches between 3 pm and 4 pm each trading day. Notably, the platform gives you a peek into your current portfolio, showing the positions resulting from your symphonies.

Feel like taking matters into your own hands? You can place manual market orders, but make sure to submit them before 3 pm for execution during the trading day.

Tip: LeoPrime is a broker based in an offshore country that is a hub for shady trading businesses. It’s best to avoid it! 

Opus: An Actively Managed Trading Strategy

Meet Opus—an actively managed trading strategy by the Composer team. With 3 versions from conservative to aggressive, Opus acts like a robo-advisor platform.

Perfect for Pro users, Opus automatically keeps your portfolio balanced as conditions change. We give it a thumbs up!

Platform Differentiators

This AI trading tool is not your average no-code strategy backtester. While other platforms may charge you for backtesting, Composer lets you do it for free. Yes, you heard it right! You can explore and test strategies at no cost, and only pay if you decide to automate your execution.

And there’s another plus: Composer provides a library of ready-made strategies for you to borrow and tweak. This is similar to a smart trading assistant. 

Note: QuoMarkets is a questionable broker that covers multiple funding methods. Watch out for potential tricks this company might use.

Weighing the Good and the Not-So-Good of Composer

Here’s a quick rundown of what we love and what gives us a bit of pause.

Pros:

  1. No-Code Magic: With this tool, you’re the ruler of your own trading symphony. No coding is required, just a nifty interface to create and test your strategies.
  2. Regulatory Rock Solid: Safety first, always! Composer is a registered investment advisor regulated by FINRA. Plus, its brokerage partner, Alpaca, is also on the regulation train, keeping your funds snug and secure up to $500K against any brokerage mishaps. And guess what? Your investments will find a cozy home with BMO Harris, a trusted bank.
  3. Backtest Bonanza: Unlimited backtesting, even on the free tier! Dive into the historical performance of your strategies before taking them for a spin in the real market.
  4. User-Friendly Interface: No need for a PhD in trading. Composer’s interface is as friendly as your neighbor’s golden retriever. We can confirm that it makes your trading experience a breeze!
  5. Discord Delight: Need a trading assistant? Jump into Composer’s dedicated Discord channel. This is an outstanding place for sharing tips and tricks.

Cons:

  1. Global Grumble: Non-U.S. traders will be disappointed as Composer is waving the U.S. flag only. If you’re trading from beyond the USA, you might want to explore other options like AvaTrade.
  2. Crypto and Fund FOMO: This AI tool supports only stocks and ETFs, leaving crypto and mutual fund enthusiasts in the dark. ETFs are nice, but everyone’s got their preferences.

Composer Trade App on Trustpilot

According to the virtual town square of opinions, Trustpilot, this superb tool scores a 3.4-star rating from 4 users. It’s not standing applause, but know that many traders are nodding in approval.

Remember that in the financial game, it’s wise to choose companies that have a 4.5+ star rating.

Making Money Trading

Are you ready to turn those trading dreams into dollar signs? We’ve got your back! Dive into the world of forex and crypto with our free consultations.

Plus, here’s the scoop: our new gig, proprietary trading. Partner with us, and you could be pocketing up to a sweet $180,000. Now that’s beneficial indeed!

Final Verdict

Speaking of trading, Composer is a solid choice, no doubt. They have an outstanding interface and many interesting features per se!

But know that there are other platforms out there, and you deserve the best! Consider your options wisely, and speaking of options, don’t forget to peek at our exclusive offer – a proprietary trading firm. It’s not just good, it’s way better. Choose wisely!

FAQ

What is Composer Trade?

Composer Trade automates trading with 'symphonies'.

Is Composer Trade Good?

Yes, with a user-friendly interface, regulatory compliance, and free backtesting, it's solid.

What Does Composer Trade Do?

It facilitates automated trading through 'symphonies,' offering Opus, an actively managed strategy.

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