Beware! Trade Crypto Robot is most probably a scam system! Your investment may be at risk.
Don’t put all your eggs in one basket. Open trading accounts with at least two brokers.
Those who carry the most blame for the high risk of fraud in forex trading are without-a-doubt the so-called crypto robots. Websites like Trade Crypto Robot plague the internet with their disgusting pop-up ads promising unrealistic money to vulnerable people who are easily swayed. There is usually nothing more than a trailer-video on the website, however, Trade Crypto Robot obviously has not put aside money for such a trailer and we are only given “testimonials” from alleged ex-clients of the robot who are all, of course, extremely satisfied with the services. We may even choose to follow “top crypto traders” with information regarding their winnings which is some sort of a social trading element. Of course, such talk is complete non-sense and most likely these “top crypto traders” do not even exist in real life, but let us nevertheless see what came to light after our research into the robot.
Terms and Conditions without an address or company name
Our findings did not especially surprise us, maybe, perhaps, only amused us a bit. The crypto robot does have a page entitled “Terms and Conditions” on it website, but from it we could not gather neither the company behind the robot, nor it’s address, nor even the country of origin. All this, coupled with the bizarre testimonials of clients who allegedly have enriched themselves massively with the help of the crypto robot, inclines us to believe Trade Crypto Robot is simply another scam, which doesn’t even put in the effort of concealing it’s shady character.
Precisely such crypto robots, promising riches and profits through crypto trading, mislead traders into registering and carelessly giving away their address, phone number and email. Minutes later, that same personal data is sent to brokers and the registered traders begin getting phone calls from unregulated forex brokers like Richmond Investing or RW Markets urging them to invest. The jig here is simple – the websites, feeding the brokers with the traders’s personal information, receive a fat commission every time a trader decides to invest with the forex brokers at the other end. In most cases the commission is about $500.
No verified track record
One of the biggest problems with crypto robots such as Trade Crypto Robot is the lack of assurance for results. In forex trading there are social platforms such as eToro or Zulutrade allow you to search through the profiles of different traders, taking notice of his track-record in trading, whether losses or winnings are the majority. Such transparency adds significant assurance and partially, if not fully, removes risk. Furthermore, all the over-the-top promises of profits on the website beg the question – if this crypto robot is so good why haven’t we heard about it yet? Why hasn’t CNN money made a news piece about it? Well, the reason is quite simple – because the robot simply is a poorly made website for scamming which will soon be renamed.
No regulatory supervision
We should also point out that such operations are not overseen by any relevant authority. The people operating Trade Crypto Robot are not bound by any government regulator and potential clients have no one to turn to in case they have legitimate grievances.
Last, but not least – the mere way in which such operations seek funding should raise red flags. If Trade Crypto Robot did have anything of value, they would have found alternative ways of financing themselves, instead of relying on cheap traffic through a cheesy, badly-done commercial about itself. They can apply for a credit at the bank, or another option utilized by today’s crypto companies is raising money through crowd-funding. However, all these options require something Trade Crypto Robot desperately lacks – legitimacy.
All in all, Trade Crypto Robot comes across as a standard scam operation – the likes of which we have seen a lot – and we advise those interested to stay away.