- June 27, 2018
- Posted by: Michael
- Category: Untrusted brokers/systems
XTB News Trader tries to attract all clients to join their new generation of smart bitcoin traders. In this short XTB News trader review, we will reveal all information we know about the system. After reading the post you should be able to determine whether XTB News Trader is a scam or not.
What we know about XBT News Trader
The system supposedly works the following way. It collects information from high authority cryptocurrency sources like CNBC, Bitcoin.com, Coindesk and others, once this data is collected a team of experts with years of trading experience will provide you signals that are based on this news.
What seems odd at first sight about XTB News Trader
First of all, when you look at the main page of the software you can see a sentence “Such a powerful tool is likely to cause a disruption in cryptocurrency trading, so it is crucial to get on board fast, as we only have a limited number of software licenses available“. Similar statements are usually stated only by scams that want to get people to jump on the bandwagon as fast as possible. Secondly, the system does not inform us how precise these predictions are nor who are the experts that will provide us with the signals. According to the system, you will be able to open positions before the information hits the market. Which seems a little bit weird when they collect data from high authority websites that are visited on daily basis by hundreds and thousands of people.
Is XTB News Trader a scam?
Exactly the same question is answered on the XTB News Trader website where we are informed that they provide merely trading signals and that the decision whether to open a trade or not is up to everyone. While this might be true, anyone who provides investment advice needs to have an appropriate license to operate on the market. When searching for the license of XTB news trader we found none.
XTB News Trader – Conclusion
I have to admit that I actually like the video that XTB New trader has on the website. There are, however, a lot of odd things that just do not sound right. To find out what broker they promote, we created an account at the XTB News Trader website and we were instantly redirected to a not very well know brokage, rightertrade.com. This company is not in Europe regulated by CySEC, but to our surprise, they actually have one license, which is from Estonia. When we tried to log out from the broker to see the XTB news trader offer again we run into some complications as no matter what we tried we were always redirected again to the broker to make a deposit. Whether XTB News trader made that on purpose or not is hidden to us. After reading this review, do you think XTB News is a scam or a legitimate signal provider? Share your thoughts and experience with us in the comment section below.
Average rating of the XBT News Trader software