We have found a Forex and Crypto currency trading bot known as Crypto Master Bot. This landing page surfaced last week on the internet and we strongly believe that this is one of those generic automated trading bots where vendors make use of dubious brokers to cash in on naive investors. The Crypto Master Bot uses a combination of technical analysis tools and if all of them agreed, noise is eliminated and win rate is increased. This is according to the sales page which claims that we can also try it out on demo to see just how well the automated signals are performing.
The landing page tells us that we can get instant access to this software. They call it ”top rated automated trading signals”. The software does not need to be downloaded as it can be accessed on the web browser as long as there is an internet connection. This also means that the app can be used with a PC or any other device. The truth is that we have seen many trading apps operating in this fashion, and nearly all of them have failed terribly to yield long term and consistent results. Some of them provide access to a demo account while others don’t provide a way to demo test the capabilities of the robot. So basically if you go with a bot that is not providing a way to test its capability, you are putting yourself in too much risk. On the other hand, we have found numerous robots which operate in this manner but the problem is that they are always teaming up with dubious brokers and sometimes those brokers are the owners of that software. That means they can manipulate trading results in order to look like the robot is always making winning trades.
The main selling point here is that Crypto Master Bot is that the robot is the ultimate trading solution for all types of traders whether new or seasoned professional traders. We cannot think of any reasons why a professional trader would want to use a robot like Crypto Master Bot when they already know how to trade the Forex and Crypto currency markets. It simply doesn’t make any sense. They are promising us high quality signals (but win rate has not been mentioned). They only claim that Crypto Master Bot provides automated signals with a very high win rate. In addition to this, they claim that the software is user friendly, and that traders will get to enjoy reliable and safe brokers when they use this robot. In addition to this, these guys are promising 24/5 customer support. They claim that their support staff are trained and can reply to our questions via email or live chat asap.
At this point in time, we need to find out whether this is a good deal or just a marketer trying to impress us with a gimmick. This should be easy to find out because all we shall be asking for is some proof of trading performance or at least records of their trading statement. If they claim that Crypto Master Bot has a high win rate, there must be proof to support that claim, right? However, if there is no such proof to support the claim, then it is safe to opt for these alternative trading tools because at least we have vetted them, used them and found that the results are pleasing.
There are a few advantages which have been listed on the sales page. The first one is that we can test performance and unique features of this robot using a demo account. This demo account is assigned to us by their affiliated brokers. They tell us that through a demo account, we can experience real online trading in the financial markets. In addition to this, they tell us that we can get carefully chosen Forex and Crypto currency signals. This app also appears to be a training tool as the vendor tells us that we can use it to improve our trading strategies and skills. How this is to be done is not crystal clear as we know that it is an automated trading app. There is no way it can be used to train the skill of trading.
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And of course, they are telling that that transitioning from demo to a live account is straight forward as there are no obstacles along the way. Our concern is whether the results we shall getting from Crypto Master Bot will be trustworthy. Many times you will find a vendor providing a demo experience with manipulated results. So that means we cannot trust what we see on the demo unless we download the software, load it on the charts of another broker who is not affiliated with their broker. Otherwise, there is no way we can test and affirm that indeed this robot is profitable.
The mode of operation for this robot is not clear as they tell us that Crypto Master Bot uses a combination of technical indicators which must agree or speak the same language in order for a trade or signal to be executed. This is a vague way of explaining the trading methodology. If it was as easy as getting all trading indicators to agree so we can enter the markets, we would be having successful traders as opposed to failures. But this is not the case, which means that simply entering trades based on indicators alone is not a profitable or reliable way of trading the Forex market.
They could have done a good job by providing us documented trading results which can also be verified by a third party. We just don’t want to hear that we can test the robot on a demo that belongs to their affiliated broker. They can cheat us if we fall for their direction. Unfortunately, we cannot recommend Crypto Master Bot based on these findings. Stick to these apps.
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