FX Coin Bot Review: An Obvious Scam

FX Coin Bot Review: An Obvious Scam

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FX Coin Bot is one of those free trading platforms that provides a bot for trading Forex, stocks and Cryptocurrency assets. However, in as much as it sounds like a deal since it is free to use the platform, I’m advising the trading community against trading platform. You could do really well with these Forex trading resources and if the idea of utilizing a Crypto wealth management sounds good, you should stick around as we are planning to introduce an interesting addition into our list of recommended trading resources.

The developers are anonymous but are claiming that FX Coin Bot trading app has experienced 100% accuracy rate in some days when the markets are stable. They also claim that the platform gives access to 3 trading strategies which include trend-following MACD, Bollinger Bands, EMA, exponential moving averages and Ichimoku Kinko Hyo.

A newbie would easily think that these indicators are the solution to any trader’s problem especially those who want to make quick riches on the financial markets. The problem is that these indicators don’t guarantee success.

In fact, the best traders rarely use indicators because for one, indicators tend to lag behind unlike price action where traders anticipate what the market will do next based on the shape of the previous candlesticks. This is what is trained in this course and you should consider subscribing for the course if you want long-term success instead of relying on FX Coin Bot, Dax Robot, 1000 Bitcoin Trading robot, FX Good Way EA and many of those robots which come and go.

In fact, as I review FX Coin Bot now, I’ll promise you that this bot won’t last 1 year. Most of the similar bots that I reviewed here nearly 1 year ago exited the market after scamming victims.

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This might be the case with FX Coin Bot but before we make this conclusion, we’ll go through the features and give a proper analysis of how this works and whether or not you are likely to lose money with the FX Coin Bot.

FX Coin Bot review

FX Coin Bot website wants the community to believe that their robot is a top-notch piece of technology which provides trading solutions in a one-click, easy-to-use setup.

Their main selling point is that FX Coin Bot success is based on 30 years of historically proven trading strategies. The developers did not mention which strategies they are talking about other than telling us that they are using indicators in addition to fundamental and sentimental analysis.

This information is generic in nature as it fails to communicate effectively what the bot does in order to make abnormal profits as claimed on their website.

Moreover, they claim that FX Coin Bot is 100% endorsed by the trading community but when you look online for reviews or customer feedback, you find nothing in the trading forums.

The other promise that the developer of the FX Coin Bot is giving is that their product is the best trading platform in 2019 and beyond. If this is so, one may ask where the really good trading platforms rank.

Breakdown of FX Coin Bot features

  1. Over 200 assets to trade including Forex pairs, Crypto and stocks.
  2. 3 highly-accurate trading strategies
  3. Live chart access and news feed
  4. Partnership with regulated brokers
  5. 100% free consultation with expert traders
  6. 24/7 customer support
  7. Reverse trading feature to trade against the market (quite weird)
  8. Highly professional trading application

The truth about FX Coin Bot

The best trading robot in the world can’t be free. Let’s just face it. Secondly, it appears that the offer of giving access to the first 500 traders free of charge is something the developer is using to attract subscribers who will end up depositing funds with the recommended brokers.

You need to think that when a robot is so good, it comes at a premium price tag or at least a monthly subscription price.

So in this case, the owner of FXCoinBot wants traders to believe that the trading platform will solve their money problems which is exactly the opposite of what I see.

The idea of a reverse trading feature is quite stupid. You have never heard any professional trader saying you can go against the market and still make money. If you are a bank or a financial institution, that is possible. But if you are a retail trader (which means a small fish trying to compete with big fishes), you will quickly drain your account.

I also think this vendor just hired some developers to create the platform based on trading indicators. If you use FX Coin Bot, you’ll be losing money because these developers are not traders and secondly, nobody has ever used these indicators to consistently generate income from the financial markets.

How you’ll get scammed by this platform

The idea is to have you deposit the minimum required funds for trading which in this case could be $250.

They have linked the robot with shady brokers who are also unregulated. Once you place a deposit and the robot starts trading, it will take a few hours before your account balance gets to zero.

Our best advice for you

You must choose whether or not you want to get scammed by these internet marketers. No trading performance can be provided to back this robot and yet they make bold claims that the FX Coin Bot is the best robot of 2019 and beyond. In 2020, they will come up with something else to try cashing on the ignorance of hungry traders who want overnight success. In fact, these tricks keep evolving every year and if you’re not keen, you might just fall for them. Thankfully, we will be updating the community on the happenings in this industry so we can keep you on the know.

If you don’t know how to trade, utilize one of our highly recommended trading bots on this page. You’ll be relieved of the stress that comes with analyzing the market or using fake trading robots to try making money from the markets. It’s frustrating as people lose money a lot.

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