- April 6, 2018
- Posted by: Michael
- Category: Untrusted brokers/systems
Autocrypto Bot is a trading software that functions automatically and has supposedly a great winning ratio on cryptocurrencies. The bot is also known under the name Crypto Robot Shark and is free of charge. In this quick review, we will try to unfold to you the truth whether the rumor that Autocrypto Bot is a scam is true or not. As with all robots, we firstly look on its win ratio. The Autocrypto Bot states that it is the best free trading software out there, that can bring you a winning ratio of 85%. The bot trading algorithm should be based on several technical indicators, such as is the RSI or the MACD. The exact setting of these indicators is, however, not revealed. The author of this bot is not known to us and neither any information how one can contact their support team.
Autocrypto Bot – What we don’t like
- Lack of information (no contact address, a name of the author, a setting of indicators)
- Succes rate of 85% seems way too much and raises a red flag whether it’s not a scam
- The possibility to use the bot with only one company that is not regulated. XMarkets.com does not have a good name and even the regulatory body FCA did strongly advise us not to have anything with this entity (source: fca.org.uk)
- The fact that this system is also associated with other bots with a poor reputation (Binbot-lady, Forex-lady, Roulette-lady)
- They state that autocrypto-Bot is a legal program that works with only brokers that are licensed by CySEC. We, however, know that this is not true because they promote Xmarkets.com (broker owned by the company SG INNOVATION LTD) which is not regulated by the FCA nor by the CySEC.
Autocrypto Bot Review – Final words if the bot is a scam
We can not publicly state whether a company is a scam or not. It is up to everyone to decide if they want to trade with a bot whose reliability is questionable or whether they want to trade on their own with trusted and regulated companies. Autocrypto Bot does raise a number of red flags which were written in the paragraph above, we, therefore, advise you, not to make any rash decisions and make a sophisticated research before investing with this company.