It seems the trading scene is invaded by crypto bots (meaning robots that autotrade cryptocurrencies) and it seems like all of a sudden everybody has the secret to trade Bitcoin (and others) with super accuracy. More than that, they are all willing to share the secret for free. Unfortunately, the real world doesn’t work like that and many of these robots are scams, designed to make you lose your money. Is Crypto Robot 365 one of those scams? Let’s find out.
What Is Crypto Robot 365 And How Does It Work
This is not your regular scam where they show you a video of a mansion, fancy cars and a millionaire CEO. Instead, it has a more down to earth façade, without any of the stuff that screams Scam. Is it still a scam? Well, there are several red flags, but let’s stick to what they say it does: the robot connects to your trading account (which you will have to open with their recommended broker) and opens trades on autopilot. According to the website, their robot has made their traders $53,242 in the past 7 days but guess what: I visited the website in 2 separate days and that sum remained the same. Shouldn’t it change if the numbers are real?
The website itself is severely out of date, listing the Bitcoin price at $2,300, when the actual price at the time of writing is in the $4,600 region. Think about it: they say their robot is designed to detect volatility in the crypto market and buy or sell accordingly. Well, when a crypto coin doubles its value, I believe it’s time to detect that volatility and update the website. It just looks unprofessional otherwise.
Crypto Robot 365 is Full of FAKE Testimonials
And you know what else looks unprofessional? FAKE testimonials! Nah, in fact, this is not just unprofessional, it is a huge warning sign to stay away. Look at the girl on the far right, Jasmine P (the pic below is taken from the Crypto Robot 365 website):
And now look at what a Google image search returns the same pic:
Actually, this girl is complaining in a blog post about the fact that too many companies/websites are using her face for fake testimonials. Her real name is Chelsea Otakan and she initially donated her avatar on a web directory for other designers to use in prototypes. Then she began seeing her face with different names all over the web until it started to be a problem.
Anyway, let’s not dwell on Chelsea’s story any longer. The idea is that the testimonials on Crypto Robot 365 website are fake. I checked most of their pics using Google Images and it’s clear that they are using stock images. Way to build trust…
Something else that must be noted is that Crypto Robot 365’s website looks very similar to Binary Robot 365. Just look at the two:
So, are they operated by the same company? We don’t know because, in truly professional fashion, they don’t say who the owning/operating company is. One more thing they don’t say: if you are going to trade binary options or FX or CFDs with this robot.
With Crypto Robot 365 You Need to Have a Live Account…
To find out, I had to open an account. I was directed to the brokerage 10Markets but during registration, I was able to choose from 6 different brokers (no recognizable names except Binary Online, which is often associated with this type of robots). I managed to make some basic adjustments like setting the minimum investment to max 5 Pounds, but the robot kept opening 10 Pound trades. Hey, it seems that filter doesn’t work, does it? The expiry time can be adjusted between 60 seconds and max 5 minutes. That answers my question: you will be trading binary options on cryptos, not FX or CFD.
Finally, I would like to address the elephant in the room: there’s no option to trade cryptocurrencies! Yup, this crypto robot doesn’t trade cryptos, so if you imagined you’ll be making money from Bitcoin, Litecoin, Ethereum or another crypto coin, you’ll be disappointed.
Look at the pic above: only a few normal currency pairs and no cryptocurrency in sight. Can it get more misleading than that? Come on, the name of the robot is Crypto – something, on the homepage they advertise cryptocurrency trading and then, after you registered gave them your details, you find out there’s no crypto?!?
The Cryptic Conclusion
Look, I know that 99.99% of these robots are a scam but this one doesn’t even try. It looks like a cheap way to get people’s details. Everybody is flocking to cryptocurrencies like it’s the new Goldrush, so the people behind this robot figured “Hey, let’s tell people they can make money from Cryptos and then we don’t offer Cryptos. Brilliant!”
Let me give you the hard truth: you will not trade cryptos, just normal currencies and you will not make any money with this software. Fake testimonials, no info about the company, shady brokers and empty promises. That’s what you’ll get. They and their recommended brokerages will get the money. Your money.