It becomes compulsory for traders like you and me to go through reviews of trading robots before investing due to the increased number of scam companies today.
Our job is to investigate such robots and test their claims.
This is the purpose of writing this Crypto Robot Review
Trading robots make our trading easier and save time and effort. But if that robot doesn’t deliver as promised, then all our efforts go in vain.
Is Crypto Robot a legit trading robot that will bring you profits or is it a scam?
Let’s find out in this review.
🌟 What is Crypto Robot?
Crypto Robot is an automated trading software that sends you trending signals of major crypto and forex CFDs.
You can trade manually or let Crypto Robot do all the work for you while you sit back and relax.
If you are wondering what an automated trading system is, it is a trading software developed by software engineers where the trading instructions are based on algorithms.
These algorithms are developed based on recommendations and instructions by financial advisors.
Crypto Robot was released on January 2018 and since then has attracted all kinds of traders.
This trading robot is the associate auto trading platform of the famous Option Robot.
Option Robot provides binary options auto trading whereas Crypto Robot provides auto trading on Forex and Cryptocurrency assets.
Automated trading and cryptocurrencies are both the most hyped and anticipated entity in the financial world.
This is why Crypto Robot has gained popularity rapidly as it combines both these into one.
Crypto Robot doesn’t have a broker of their own but instead, they are partnered with over 10 brokers that you can choose from.
Their platform is web-based, so you don’t have to download any separate software or app to trade.
Although Crypto Robot is an automated trading system, you can trade manually if you wish to do so.
🌟 Why choose Crypto Robot?
Crypto Robot is amongst one of the hundred automated trading systems that exist today.
So why should you make it your preferred choice of trading? Find out its unique features below:
- Multiple automated trading methods
- Multiple trading indicators
- 12 popular brokers to choose from
- Trade both manually and automatically
- Over 25 forex pairs and 9 cryptocurrencies
- Manage up to 8 simultaneous trades
- Multiple signal timeframes
- A minimum deposit fee of $250
- Trade cryptos as CFD’s and enjoy leverage
- An easy account creation process
- Up to 300:1 leverage for forex pairs and 15:1 for cryptos.
- Fast and reliable web platform
🌟 Crypto Robot Asset Index
Crypto Robot mainly offers cryptocurrencies and forex pairs for trading.
You can trade these assets as CFDs so you can go long or short depending on the market conditions. Here are the popular assets Crypto Robot provides to its traders:
⭐ Forex Pairs: EUR/AUD, EUR/USD, EUR/CAD, EUR/GBP, EUR/JPY, AUD/USD, AUD/NZD, AUD/JPY, USD/CHF, USD/CAD, USD/JPY, GBP/JPY, GBP/USD, GBP/CAD, GBP/AUD, CHF/JPY
⭐ Cryptocurrencies: Bitcoin, Ripple, Ethereum, Bitcoin Cash, Bitcoin Cash, Monero, Stellar, Litecoin, Dash, Zcash
🌟 Crypto Robot Supported Brokers
Crypto Robot does not directly deal with the traders.
They are partnered with many brokers and you link your Crypto Robot account with the one you prefer.
Note that, not all the brokers will be available at your disposal.
Depending on where you live, you will be displayed a list of brokers.
Let’s briefly discuss some of the brokers that are partnered with Crypto Robot.
🌟 Crypto Robot Trading Platform
Crypto Robot’s trading platform is web-based.
This makes it convenient for many traders as they can manage everything from their website.
The platform is simple and easy to use.
For beginner traders, the simplicity is important as too much information or cluttering of information might make them feel intimidated.
However, advanced traders may feel the platform is a bit underwhelming to use. Let’s go through the features of this platform.
When you log in to your Crypto Robot account, you will be redirected to their trading platform.
You will get a popup asking you to deposit funds to start trading.
You need to deposit a minimum of $250 to start trading. Once you have done that, you can start trading.
The first thing you will notice is the choice of either auto trading or manual trading.
With auto trading, you are not taking decisions on what assets to trade.
You leave that on the auto trader.
The two things you will be asked initially are to specify the investment per trade and the profit per investment.
As for currencies that you can auto-trade, you get to choose from Bitcoin, Dash, Ethereum, Litecoin, Ripple, BCH/BTC, and BTC/EUR.
After you have configured these settings, the auto trading will start and you can sit back and relax.
You can also trade manually if that’s your choice.
But that defeats the whole purpose of using a trading robot.
There is a market chart displaying the live price feed of the asset you choose.
It is displayed in candlesticks and there is no way to change that. We would have liked at least bar charts or line charts as alternate ways to display the market feed.
You can customize the time interval from one minute to 24 hours.
On the top of the market feed, you have the ‘sell’ button in red and the ‘buy’ button in green.
🌟 Crypto Robot Trading Methods
There are 3 main types of trading methods available for auto trading on Crypto Robot.
Each of these has its pros and cons. We will discuss these indicators in brief:
⭐ The Classic Method: This method is considered as the safest method of auto-trading. Here, the risks level is negligible and hence the profits or losses are small. The trade amounts are the same. It will take time for the traders to rake in profits but it also prevents losses.
⭐ The Martingale Method: The Martingale method is generally meant for the get-rich-quick type of traders. It is for traders who are willing to take big risks in return for bigger profits. Keep in mind that the losses are also magnified in case you the market moves against your position.
⭐ The Fibonacci Method: The Fibonacci method is the sophisticated one amongst the three methods. It is also the most accurate method between the three. It focuses on precision and accuracy. It achieves this by taking your past trades into the factor.
🌟 Final Verdict: Is Crypto Robot A Scam?
If you look for Crypto Robot reviews, you will find mixed reactions from traders.
Some say, it has been the best investment they have made while others have not benefited from it.
Few complaints were related to withdrawal but that depends entirely on the broker.
We don’t think it is a scam as trading robots are ultimately software and no software is completely error or bug-free.