Scam Brokers

Auto Crypto Trading Solutions – Are They a Scam?

Chainbits Staff | Publish date: 09/20/2023 (Last updated: September 27, 2023 06:18 AM)

Stop! It’s a Scam! Your money is not safe if you are trading with this unregulated, off-shore broker.

Auto Crypto Trading Solutions - DO NOT TRADE WITH THIS PROVIDER

2.2/10

$100

Minimum Deposit

updated 2023

Try other platforms

The details for opening trading accounts are not indicated on the broker’s website. In order to register with this broker, you only need to go to their sign-up page where you’ll be asked to enter your name, email address, phone number, and password. You’ll also be asked to accept their Terms and Conditions and confirm that you’re over 18 years of age. After this, the trading platform will be made available for you and you can start trading using their demo account.

Try these regulated brokers if you want to start trading cryptocurrencies

Plus500 Review - Regulated broker

Plus500CY Ltdauthorized & regulated by CySEC

try this broker

82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money

Plus500 is a FTSE 250 listed brokerage providing online trading services in CFDs, across 2,000+ securities and multiple asset classes.

Website URL: https://autocryptotradingsolutions.com

Founded: 2023

Regulations: No Regulation

Languages: English, All Languages

Deposit Methods: Cryptocurrencies (Bitcoin, Ethereum)

Minimum Deposit: $500

Free Demo Account: Unavailable

Number of Assets: 2100+ Trading Instruments

Types of Assets: Cryptocurrencies, Forex, Shares, Indices, Marijuana, Energies, Metals

Trading Accounts and Conditions

Auto Crypto Trading Solutions provides their customers with the following types of trading accounts:

Basic Plan: The minimum funding required is $500 and the maximum is $999. The trade duration is 7 days.
Silver Plan: The minimum funding required is $1,000 and the maximum is $4,999. The trade duration is 14 days.
Gold Plan: The minimum funding required is $5,000 and the maximum is $9,000. The trade duration is 30 days.
Platinum Plan: The minimum funding required is $10,000 and the maximum is $50,000. The trade duration is 60 days.

Trading conditions are mentioned separately. The spreads start from 0.2 pips for FX pairs and 0.4 pips for crypto pairs. For stocks, the commissions start from $3. Leverage ratios are not mentioned at all.

Auto Crypto Trading Solutions – Advantages

There are no advantages to trading with Auto Crypto Trading Solutions.

Auto Crypto Trading Solutions – Disadvantages

Here are all the disadvantages that tell us that Auto Crypto Trading Solutions is a scammer:

Lies About Regulation Status

The first thing we noticed was Auto Crypto Trading Solutions’ lack of regulation. Here is how we know.

Legitimate brokers give detailed information about their corporate and regulation status. This is not the case with this broker.

The first red flag is their complete lack of identity. We do not know where this broker is based, or even how we can contact them. The only thing we are told is that they are regulated in the US. However, the name of the regulator they mention is completely false. There is no agency called the GSE that regulates brokers in that country. In fact, to operate in the United States, brokers have to get permission from the CFTC and get membership with the NFA. So, this broker has lied about being registered in the US.

And since there is no other information provided on their website, we can say for certain that this broker is not regulated at all. The first and greatest sign of a scam.

Plus500

$100

Minimum Deposit

Start Trading

Read Review

82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money

Plus500 is a FTSE 250 listed brokerage providing online trading services in CFDs, across 2,000+ securities and multiple asset classes.

AvaTrade

$100

Minimum Deposit

Start Trading

Read Review

The company was created as a combined effort of financial professionals and experts in web-commerce with the goal of perfecting the online experience for retail traders.

Blacklisted by the FCA

While checking this broker’s regulation status, we found out that the Financial Conduct Authority has issued a warning against Auto Crypto Trading Solutions. According to that warning, this broker has been operating in the UK without permission or authorization from the FCA, which is the only regulator for forex brokers in the UK.

The FCA also states that if any trader deals with this broker, they will not get access to their Financial Ombudsman Service (which is their free service to help settle financial disputes especially for when you are scammed). Traders will also get no protection from the FCA’s Financial Services Compensation Scheme in case they get scammed. In essence, if you deal with Auto Crypto Trading Solutions, you will not be able to get any help from the regulator in case you get scammed.

There can be no clearer indication that this broker is a scammer than this warning from the FCA.

Issues with Trading Platform

We encounter even more lies when it comes to Auto Crypto Trading Solutions’ trading software. This broker claims to offer their clients an exceptional software experience. However, this is just another lie. There is no such experience any trading will get with this broker.

What Auto Crypto Trading Solutions’ actually offers is a weak, poorly-designed trading platform that barely works. In fact, we do not even know if trades can be carried out on their platform.

The trading platform is one of the two most important offerings from a broker. So, if a broker compromises on this offering, then it is a red flag that tells us that that broker cannot be trusted.

Issues with Trading Conditions

There are two offerings any broker has – their trading platform and their trading conditions. We have already uncovered their fraud when it comes to their trading platform. However, we still need to discuss their trading conditions.

The fact that the broker’s trading conditions are incomplete is a clear sign that we are dealing with a scammer.

Added to that a minimum deposit requirement of $500 is too expensive. There are so many legitimate brokers that will ask for a minimum deposit of less than $50.

And the fact that this broker does not really give us any specific information on their spreads is another red flag. All other trading conditions are missing and this is yet another sign that we are dealing with an untrustworthy broker.

Single Payment Option

We know that Auto Crypto Trading Solutions is a scammer thanks to the kind of payment method they offer.

This broker offers only a single payment option – cryptocurrencies. Bitcoin and Ethereum, to be exact.

When a broker offers only a single payment method, that is a sign of a scam. Regulated brokers will offer their clients all forms of payments – credit and debit cards, bank transfers, wire transfers, e-wallets and so on. Cryptocurrencies will only be one kind of payment option.

The reason why cryptos as a single payment option signals a scam is because such transactions are completely anonymous and permanent. So, if you are dealing with a trusted broker, it may be okay to use this payment method. However, if you are dealing with a suspicious broker such as Auto Crypto Trading Solutions, then it would be a very dangerous option.

So, if a broker offers you only cryptos as a payment option, then it is a clear sign of a scam.

Conclusion

Auto Crypto Trading Solutions is another one of the numerous scammers that keep cropping up nowadays. It is best to avoid this entity.