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CWE Bot Review: Usual Scam at cwebot.com

CWE Bot Review: Usual Scam at cwebot.com

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CWE Bot is the reincarnation of a previous Crypto currency scam known as Crypto World Evolution. The two are not the same product but chances are that they are owned by the same person. The CWEBot is hosted in the cloud and so you don’t have to download anything. The owners claim that it will allow us trade Crypto currencies at major exchanges such as Bittrex and Binance. You have to be extremely careful not to use just about any Crypto Currency trading bot that you will find on the internet. Most of them are not reliable and are outright scams.

If you are not sure what to pick and what not to pick, our recommendation is to pick these choices.

Having said that, we need to focus on the specific aspects of this robot that is making it fall out of favor with internet users in general.

We like the part that says we can customize the bot and our strategies for trading using the bot. However, the bot is also going to give us daily recommendation of what we need to trade. On the other hand, there are a few reviews from people who claim that CWE Bot is generating profitable trading signals.

So the question is this, should you pay $500 for a license or even $2000? That’s the question that we shall address in this review. Realize that there are mixed opinions regarding this trading bot for Crypto currencies. Depending on how you want to look at it, this bot may be bad or good for your needs. It may be a bad thing to use this bot simply because they are not regulated and the testimonials are fake. On the other hand, it may be a good thing because the robot is allegedly letting us customize our trading strategies. So if we have some experience with trading, we would try and optimize to see whether we can get the best results.

CWE Bot review

Let’s face the fact that although the website where CWE Bot is hosted at is too careful not to promise any returns, their testimonial suggest that traders who use them imply that the bot can make profits for traders. This is something that borders giving investment advice, and in our opinion, this kind of investment advice should be licensed or at least regulated. We also don’t see any contact info on their site, which is quite disturbing. If this was a professional website and business, we are sure that they would be letting us reach them through phone, email and chat. But this is not the case.

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The other fact is that any financial regulator in the world would classify CWE Bot as an unlicensed trading software and they would quickly advise traders not to use such a robot for their investment activities.

How does it work?

CWE Bot is basically an app that connects with major Crypto currency exchanges using an API. Because many Crypto enthusiasts are already interacting with these exchanges, setting up this bot with those exchanges will be a breeze.

For those who want to trade altcoins rather than Bitcoin, this bot allows them to select any pairs for trading. But remember that what matters is money management and not the type of Crypto currency that is being traded. It is also not about the accuracy rate. In addition to this, the  CWE Bot is integrated with TradingView service, which some users may like.

The interface of this platform has many in-built indicators and other features that are allowing traders to optimize their trading strategies before they can start trading with the bot. For an additional charge, traders can purchase a subscription plan which will unlock extra features such as volume data and many more. Again, you have to remember that these things don’t really matter if the bot is not going to do a good job at managing your funds.

The fake testimonials

Even if we wanted to believe that  CWE Bot was legit, we would find it extremely difficult to do so. This is because the kind of testimonials which they are giving us is just fake. The text is made up. The site is even using stock photos to fool us. The people in the stock photos are not their real customers but stock photos. So even if we wanted to say that it was a genuine website, we would be lying in broad day light. This makes CWE Bot a big scam. They should at least try to be transparent and honest with their marketing rather than to mislead traders.

What you should know

Since CWE Bot is letting traders fiddle with settings to find the sweet spot, nothing can guarantee success in as much as trading the markets is concerned. It is now estimated that over 90% of traders in the world fail to make money. That means that if you do not have some sort of statistical advantage over the competition, you will join those numbers.

We are not so sure if a bot whose developer is using fake testimonials can provide this statistical advantage. It is hard to try imagining that a product whose owner is not transparent enough can do it. Lack of transparency is the major concern here. If they only realized that this bot was handling real investments, they wouldn’t try misleading their investors with false marketing info.

We do not want to say that user opinion on transparency of this bot’s website is subjective. We only want to believe that this is yet another case of deception, and until the developer proves it, we cannot believe anything.

Our best advice for you

CWE Bot had not done a good job at trying to persuade us with fake testimonials. If this product was that good, it should have sold and attracted positive reviews without the owner having to resort to cheap marketing tactics. For that reason, it’s best to utilize these bots because at least they have a solid track record. 

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