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Autocrypto Bot Review: Risky Scam

Autocrypto Bot Review: Risky Scam

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Autocrypto Bot (Crypto Robot Shark) is a fishy Cryptocurrency trading bot with no real algorithm for intelligent trading. As always, the owners of this site are saying that this robot trades on auto pilot and makes ”guaranteed profits”. That’s the wrong perception of trading. They are getting it all wrong because they are probably not traders. Marketers cannot be traders. Equally, software programmers cannot create a good trading program if they don’t trade themselves.

After going through Autocrypto Bot website, we felt like something was amiss. And when we investigated further, we discovered that the landing page where the robot is being promoted at is not giving us the right information needed to make a decisions as far as using this software is concerned.

We honestly don’t believe that good things come for free. There has to be a catch. Either the robot is a poor performing software or they are going to make you pay a significant amount of money in order to obtain a license.

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But since they are saying that Autocrypto Bot is free to use, we can only suspect that this is a scam since their promises are too good to be true. Let’s find out what is going on here.

Autocrypto Bot Review

The reason why it is not safe to use this trading app is because it is based on the same trading software that scams use out there. This is the same software that was used in Auto Crypto 247. Only names have changed. The rest of the features are the same.

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Now, let’s consider this fact. Auto Crypto 247 lost a lot of money in the process of trading. It randomly opened and closed trades based on a couple of freely available indicators. This led to massive losses because the algorithm which it used was not intelligent.

Based on the same money losing algorithm, Autocrypto Bot is here with a brand new name and appearance. This is to fool traders by making them think that the software in question is unique and even more powerful. You should not be falling for such simple tricks. These scammers are desperate, and are getting lazy by the day. They lack creativity. But of course they won’t grow tired. They’ll still clone more scams hoping to make quick bucks out of commissions which they will be earning as a result of sending people to their brokers.

All in all, Autocrypto Bot  does not look like a promising app. It has been around for years. Users have even reviewed and complained about it for a long time. Of course traders do not know that this software is a white label that is sold to everyone. That is also the reason why the software is immune to these complaints. People still fall for the trick since vendors keep changing its name . But the idea is all the same.

We have also noticed that this scam application sometimes comes with a demo account where traders can test the software before depositing real money with the recommended brokers.

Surprisingly, the scam demo account uses fictitious price feed to generate fictitious profit. That kind of performance can never be replicated in a real trading environment. They know it very well.

The other reason why Autocrypto Bot is not worth trusting is because the owner is totally anonymous. They did not make any effort to reveal who they are and what they have been doing. We don’t trust strangers online especially if they are selling what will require money at some point in time.

You should be curious about such a person. And of course Autocrypto Bot is an illegal piece of trading application. It has not been licensed to be used commercially by every trader. In fact, authorities don’t even know about it. Therefore, it would be illegal to use this software in countries which they are targeting with this bogus offer.

How they will scam you if you follow their advice

BeCFD is the broker they have liaised with. They will persuade you to deposit $250 with this unregulated broker so that they can earn their commissions. It is not a bad thing to earn commissions this way. However, if you are taking advantage of people’s ignorance by knowingly misleading them, then that will amount to scamming them. It is not professional no matter how you want to look at it.

This white label won’t be activated until you have deposited the money. That means there is no way to test the software until you have gambled with real money. Realize that you cannot withdraw this money once deposited because the scam broker will always erect barriers that make it nearly impossible to recover funds once sent to their bank accounts.

So the only option that you will have is to trade it with the useless software. Guess what, it will open trades randomly. This will hurt your account because most of them will be losers. Remember, the landing page is lying to us that Autocrypto Bot has a win rate of 80%. What statistics is this win rate based on? We’d like to see at least 20 verifiable trades that were taken by this software. If we can evaluate past performance, we can do the math and confirm that indeed Autocrypto Bot has a win rate of 80%.

So far, no past performance has been published. These records are not available simply because this trading app has never been tested. It keeps losing money, and the owner knows it very well. There is no need to publish these results as no one will ever use this software.

Our best advice for you

There’s nothing good in Autocrypto Bot software. You’ll probably discover that this software is nothing more than a collection of indicators which can be found on all charting solutions including free ones.

Thankfully, you shouldn’t get scammed when we have selected the best Cryptocurrency trading apps for your use here. They’ve carefully been selected. So if you want to trade Cryptos, the best way to go would be to use our recommended bots.

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