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FX Coin Bot Review: An Obvious Scam

FX Coin Bot Review: An Obvious Scam

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FX Coin Bot (Fxcoinbot.com) review is done, and the results are out for everyone to see. FXCoin Bot is another rogue free trading platform that claims to be a game-changer. The platform may sound free, but there are a lot of strings attached. With free things come hidden charges and an excuse to defraud anyone who signs up. After receiving several complaints from users, we had to investigate the platform. Thanks to our investigative team, we will expose this rotten online trading platform.

FX Coin Bot Review

About FX Coin Bot

The website is engaging and looks professional to the naked eye. And this is intentional as the developers of the platform want it to appear legit. What the platform lacks is easy navigation. All of their information is locked in one page, and there are no other separate pages. The platform does not indulge in their background or history. It would be prudent if the platform offered insight into their trading background. And this is the reason why we are against recommending this trading platform

There are safer ways to trade thanks to proven and tested trading tools. These trading tools offer security for your investments and have a recurring user base. Go for transparent forex trading robots with an eye for success. The robots have undergone several testing phased and proved to be the best option. Successful traders use these robots to generate a realistic profit margin. It is why experts and the trading community recommend these robots. Why don’t you make the bold decision and use one of these approved bots?

It is clear FX Coin Bot is a trading tool with no proof of concept. Their homepage fails to show how the platform works or trading results. They use marketing tactics to try and sign up as many users as possible. By claiming to offer free signups for the first 500 users, they hope to get numerous first-time traders. And this is a plot to attract naïve traders who don’t have a clue in regards to trading. Ensure you read this entire post and find out some of the inaccurate information used.

Accuracy levels

FX Coin Bot About the Robot/ Accuracy levels

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The platform boasts of having 100 percent accuracy on certain days. They mean that in some trading sessions, the platform hits 100 percent accuracy. Now, this is one of the biggest lies we have seen with a trading robot. A mastery of 100 percent on certain days is beyond possible. It is how we know that FX Coin Bot is just a gimmick to attract newbies. The problem with such a platform is that they use accuracy levels to attract new investors. Before joining the platform, there are a few details worth mentioning.

Assets available on the robot

They claim that the free robot is used for trading Crypto, Forex, and Stock assets. The developers fail to give users examples of the types of Crypto, Forex, and Stock options available. Information on these assets is critical, especially to newbie and advanced traders. Users would want to know the possible types of Crypto assets before going ahead and signing up. Lack of this vital information is proof we are dealing with a disorganized bunch of developers.

Available Strategies

Developers claim that they give users access to three trading strategies. The strategies include Trend following that is based on MACD and exponential moving averages. Traders use the second strategy, which is high-frequency trading relying on Bollinger bands, EMA, Stochastics, and Price action movements. One look trading based on Ichimoku Kinko Hyo is the third available strategy. They claim that these strategies have been back-tested by their team for over 30 years.

Comments and feedback from clients

Various comments and feedback received from clients are enough to blacklist the robot. The majority of investors who bought in the free idea are now ruing signing up. They expected to get 100 percent accuracy levels, at least in the first month of trading. Three months have gone by, and the robot is, making them lose money. They also claim that the robot is blocking any withdrawal attempt, which is tantamount to fraud. The developers behind this platform are not responding to emails or calls made.

Director of the robot

An anonymous free trading platform is a risky product that users should think twice before signing up. The platform has no recorded owner, and there is a breach of communication protocol. Anonymous platforms are a terrible idea as the developers behind this platform could be hackers. They could pose as a trading robot and use malware to steal valuable information. It is best to go for robots whose developers are reliable and reputable. For all we know, these could be offshore brokers trying to get a piece of the booming European Crypto market.

Domain insights

As expected, the domain tools checker came through in terms of revealing their online presence. The website fxcoinbot.com came into existence on 10th July 2019. They are barely two years in the game and already have negative comments and reviews. The platform has made three changes to their IP address over the last three years. And this means that the site could have changed ownership three times. Scam artists usually buy used websites to try and buy their online presence and reputation.

Features of FX Coin Bot

FX Coin Bot Features

The platform claims to offer over 200 assets, including forex pairs. They claim to use three highly accurate strategies with live chart access and news feed. Users are also given a guarantee of a partnership with regulated brokers. And this is another fraudulent statement used by these scam artists. They also claim to offer 100 percent free consultation with expert traders with 24/7 support. The trading app also claims to provide reverse trading features to trade against the market. Most of these are false claims and features meant to enlist more subscriptions.

License and Registration of FX Coin Bot

FX Coin Bot is not licensed or registered to offer any trading products or services. Their disclaimer openly shows that CFTC or NFA does not regulate the platform. They should however have the license to operate forex and stock services. The platform does not have the required permission, which makes it a fraud. Anyone who signs up with this platform should know that deposits don’t get any insurance cover. And this poses a considerable risk to anyone who signs up with the app.

FX Coin Bot Compliance

Without a valid license, the platform is operating under pretense. They are using the Crypto license loophole to attract U.S. investors. Most of the regulatory bodies in Europe plan to ban the use of this robot. Most regulatory bodies will release a press release regarding this robot. Even though the robot claims to offer safe trading, this is not the case. They have no money-back guarantee features. Once users deposit funds with this platform, the developer may choose to block access to their funds.

Available Price

FX Coin Bot claims that the bot is free. There is no way that the best trading robot is free, there’s a catch attached to this claim. Most reputable robots will charge $250 for their robots. After getting their 500 subscribers, these investors will end up depositing funds with the platform’s recommended brokers. The developer wants us to believe he will solve money problems by offering the platform for free. It is unheard of and won’t be happening anytime soon.

How to get scammed with the robot

The robot will have a link to their unregulated brokers. After depositing funds with the brokers, the robot will immediately start trading. Users will expect to see the 100 percent accuracy at least once during the trading sessions. After trading, the robot will only need a few hours before your account gets to zero. The broker will make contact and urge users to deposit more to increase the chances of winning.

Scam or Legit FX Coin Bot

FX Coin Bot is another online scam trading tool that we must expose. There is no security of funds, which is a huge issue. They are selling the platform for free to help garner more naïve investors. We feel we have to protect the online trading world by exposing such products. For those that don’t heed our advice, we urge you to practice restraint when depositing funds. Ensure you can make withdrawals first before committing any funds with the robot.

Final verdict

The platform is a scam, and users should stay away from it.

Become a better trader by using expert-recommended products backed by the trading community. Ensure you go for approved forex trading robots that offer security for your investment. It is what successful traders are using from all corners of the world.

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