Crypto MasterBot – Is It Safe or a Scam?

Website URL: https://crypto-masterbot.com/

Founded: June 4, 2019

Regulations: Not Regulated

Languages: English (UK)

Deposit Methods: Not advised

Minimum Deposit: $250

Free Demo Account: Yes

Number of Assets: N/A

Types of Assets: forex and cryptocurrency

The popularity of forex and cryptocurrency trading has ushered in a wave of trading products like trading signals, analysis tools and even crypto robots that are supposed to detect market changes by using sophisticated algorithms.  With these, even a novice in investing can use them and start trading. Unfortunately, such technology has already raised a few eyebrows when it comes to accuracy.  And while there are good trading bots out there, it does not help that such a trend towards this technology is also used to scam you out of your money.  This makes considering investing in such platforms very confusing.  Are they legit, or are they scams?  Will you gain a huge return on your deposit, or will you never see your investment ever again?

Here, we’ll look into one of the many automated trading software out there – Crypto MasterBot, and see how to detect if it is legit or scam.  And based on initial reviews, we strongly suggest against placing your money on this platform.  There are several points we’ll discuss here that will support this position.

Crypto MasterBot  – Advantages

We are hard-pressed to cite any advantage for Crypto MasterBot, as it might be misconstrued as hard facts.  When in reality, they’re not; it’s all just marketing clickbait ploy to make you invest in them.  So what we’ll do instead is list up the supposed benefits of the technology as advertised in their site.  And with any other advertisements, always take them with a grain of salt.

It’s been observed that the website, and most probably even the technology itself, is a knockoff from another company.  So it’s not surprising that if everything sounds familiar.  It may sound too good to be true, because it is.

Without further ado, here are the features of Crypto MasterBot taken from its website at its face value, and then what it is in reality:

The system monitors the market using technical indicators and based on high quality signals or high-frequency trading. Which means it can analyze enormous data real time in a matter of seconds, enabling it to place profitable deals and minimize risks.  Or so they claim.  There is currently no proof supporting this.

There is a video explaining step by step how to get started with the system, including a preview of the system’s trading dashboard. They also offer a demo mode to test the platform using virtual money, before you invest in actual trades.  However, it’s one of those gimmicks that let you win in demo mode and never in live trades.  Definitely a sure way to lose your deposit money.

The system is scale-able and has Stop Loss and Take Profit features. You can set your risk, trading signals, and put it on automated mode.  Though in reality, it is not fully automated as advertised.  One still needs to approve before an order can be placed.

Next, we’ll talk about other points that make it sound shady and definitely a scam.

Crypto MasterBot  – Disadvantages

In as much as their website showcases apparent strengths, there are also a few clues that tell more about the doubtful nature of the product.

For one thing, the site is not secured and can sell your information to third parties, which are spammers, hackers with malware and unregistered brokers. There have been reports that unregistered brokers would contact clients immediately after signing up, enticing them to invest manually with them instead of using the system. These are scam brokers and are just out to get your deposit money.  And Crypto MasterBot basically admits to this monetary relationship with individuals and groups in their disclaimer.  It leads to confusion what is the real nature of their business.  Any legitimate organization need not get funds from such dubious sources like affiliates and commissions, as they can raise capital from legitimate bank loans.

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.

They have conflicting statements with regards to their brokers. They promise registered brokers, and yet in the disclaimer lay all responsibility to the investor to verify if the brokers are indeed registered.  If a website promises regulated brokers, then they should have a list of those associated with them.

They’re also not licensed or regulated in any way. Without regulatory supervision, they can basically do whatever they want and get away with it.

They don’t have any proven track record, and there is no way to check if the product actually works and delivers as promised. There are no reviews from real traders that are actually verifiable.  Most, if not all of the positive ones are fake reviews.  No testimonies from social trading platforms like Zulutrade where you can track actual deals and results.  No consumer reviews from reliable sources such as Trustpilot.

There is no verification system. One would think for security reasons that investors are verified, especially for payout purposes.  There is no such thing in this software.

Their customer service is non-existent. Only chat service is available, and don’t expect any response.  There’s none.

Another give-away is the non-existence of any company detail, place of operations and contact number. It’s like they don’t exist on the face of the earth.  Well, expect your funds to cease from existence as well once you sign-up and hand over $250 to get started.

Crypto MasterBot, in Summary – Avoid Investing Here

There are mixed reviews on this product, and while an investor is definitely using a technology that has said features, the question is if it is delivering as promised or will your hard-earned money just vanish into thin air.  And tests and investigations all point on the negative and that it is a scam.

Investing in financial instruments already has their inherent risks to begin with; however turning a blind eye to such red flags is being downright irresponsible.  As an investor, we should do our homework and practice due diligence as well.

Crypto MasterBot

2.5

User Experience

2.9/10

Payment Options

2.4/10

Security

2.3/10

Support

2.5/10

Reputation

2.2/10

Pros

• You can withdraw the principal at any time
• Private and secure
• Accounts can earn every hour
• Available in 4 investment packages

Cons

• High minimum deposit requirement
• No information about the spreads
• No regulations
• No free demo