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TradingView AutoTrader Review: Is It A Scam?

TradingView AutoTrader Review: Is It A Scam?

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TradingView AutoTrader is a robot that is supposed to let you trade various Cryptocurrencies at exchanges like Kraken, Poloniex, Bitstamp and many more. This is supposed to be done through a special API that gives the bot access to the various markets for trading Cryptocurrencies. It allegedly supports all coins for trading. Users can also choose their own trading strategies in the indicators section of the Trading View platform.

When the list of trading list tab is visible, it allows users to view signals for the Trading View Auto Trader. In other words, the vendor is claiming that this software is also going to deliver trading signals as well.

The robot buys and sells on your behalf. There is a variety of subscription models that traders can choose from this website. These subscription plans allow one month access at a cost of $29, 6 month access at a cost of $129, 1 year access at a cost of $199 and lifetime access at a cost of $499.

The question is, should you subscribe to start using TradingView AutoTrader or should you just ignore it? That is the question we will be tackling in this review. We want you to read this TradingView AutoTrader review till the end because we are going to discuss things about this bot that will shape your purchase decision.

TradingView AutoTrader Review

TradingView AutoTrader is by no means related to the popular Trading View charting solution. One may wonder why this developer decided to use the name Trading View when it clearly belongs to another product.

Perhaps it’s a marketing trick. It’s supposed to make you believe that TradingView AutoTrader is somehow associated with the popular charting solution even when it is clear that they are not.

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TradingView AutoTrader is supposed to help you trade various Cryptos at exchanges mentioned above. It is supposed to make your work easier by facilitating simultaneous trading of these assets without your intervention so long as you have chosen your trading strategy.

The bot is allegedly offering a trial version as well. If you feel satisfied by the results which you are getting, the vendor says you can upgrade by paying in Bitcoins or in any other popular Cryptocurrency.

TradingView AutoTrader

We are actually not aware of how this testing mode works. As with software that trade binary options, price feed is sometimes faked, and the software is usually manipulated in such a way that it will win most trades to convince you to sign up.

With this particular case, it can be hard to say whether or not the results you will be getting from trial version will be real and a true reflection of what will happen when you ultimately purchase the product.

The software is promoted with features touching on user-friendliness, support for all coins in the exchange, 24/7 support, quick installation, email and sms notifications, Take Profit and Stop Loss integration and so on.

The mere fact that there is a trial version for TradingView AutoTrader does not necessary mean that this vendor is transparent or that it will be safe to commit to this robot.

What we should be observing in the trial version is whether price feed that we are seeing is the real thing. We should be able to do some due diligence in order to establish that we are not being taken for a ride by a robot that has clearly used the same name as that of a popular charting solution.

Getting started with the program

They claim that it’s very easy to use TradingView AutoTrader as you need API keys for your market’s account, the amount of money you are willing to trade with, coin that you want to trade, time frame as well as exchange.

On the interface, TradingView AutoTrader will let you trade other coins and currencies simultaneously as they can be added into separate trading profiles.

Any past performance to suggest that this robot is good?

TradingView AutoTrader website has created a forum where trading strategies are discussed for free. They also claim that the forum allows them to post backtests so that prospective clients can see what is happening and how they are likely to benefit from this robot.

Well, it has been said that past performance is not a true reflection of what can happen in the future and especially when it comes to trading.

The other thing is that TradingView AutoTrader is making use of backtests which are just a way of justifying the robot’s ability through hindsight. Backtests are always about telling you what you would have earned if you started trading with the robot a little while ago. They are not very reliable in that sense.

In this forum, we can see that TradingView AutoTrader is also giving away a collection of different trading strategies for free. Users are supposed to copy these trading strategies so they can implement them on this bot. Is this any helpful? Well, we are not so sure about this. One strategy may work form someone but not everyone. The other challenge is that we are not quite sure if these people have benefited from the strategies which they are providing us on the forum. It can therefore be a difficult task verifying these results or judging them. But let’s give them the benefit of doubt.

Customer feedback

After searching the web in order to try discovering what people say about TradingView AutoTrader, we have managed to come out empty handed as most people who talk about this product are seemingly referring to Trading View charting solution and not TradingView AutoTrader. Essentially, there is no user feedback on this product at all. It would be risky trusting such a product since no one has used it yet.

Our best advice for you

As of now, we can’t say whether TradingView AutoTrader is safe to use. But you must use caution especially when considering using a product that traders have never used out there. Our best advice for you is this: you’ll be safe if you stick to these tried and tested trading products for Cryptocurrencies. 

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