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Hi, are these crypto robots any good, or is it just a scam to take your money? As i a new trader i am about £950 in loss at the moment and was thinking of investing £200 in their scheme, any thoughts please?

Gaz.

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12 minutes ago, sponthespread said:

Hi, are these crypto robots any good, or is it just a scam to take your money? As i a new trader i am about £950 in loss at the moment and was thinking of investing £200 in their scheme, any thoughts please?

Gaz.

A quick search is bring up some pretty shady practices by Bitcoin Evolution including fake celebrity endorsements, characters involved in BE known from previous BTC bot companies shut down for scamming and references to BE being a clone to previous companies shut down for scamming. If a bot is the route you want to go down I think you should probably avoid BE and keep searching.

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Thanks for reply, also do these "robots" actually exist (if so are there any recommended ones) as they claim to be faster than the human at making decisions when due to really powerful computers with upto 85% accuracy? I have read a couple of reviews but think that they maybe fake too?

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@sponthespread

There are many bots available, thousands in fact and for all different types of trading, most are EAs for auto trading on the mt4 platform. The biggest resource is on the MQL5 market place where at least there are user reviews posted and usually a free trial period and any disputes are resolved by the web site controllers.

The key to bots is not the speed but the relentless search for a particular setup and the systematic execution. That can be a disadvantage as well, bots are poor at reacting to changing market conditions, a bot written for a trending market will give back profits when the market starts ranging and visa versa.

https://www.mql5.com/en/market/mt4/expert

 

Edited by Caseynotes
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Ask yourself one question: if you had designed, built and deployed a "bot" which consistently made money would you:

a: set up a business to manage other peoples money, build an infrastructure to keep track of positions, balances etc. then spend money on sales and marketing and above all ensure you comply with all relevant regulations regarding the running of such a business (i.e. very stringent if you are managing other peoples money).

or

b: keep it for yourself and trade your own money

I know what I would do 😉

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54 minutes ago, sponthespread said:

Thanks for reply, also do these "robots" actually exist (if so are there any recommended ones) as they claim to be faster than the human at making decisions when due to really powerful computers with upto 85% accuracy? I have read a couple of reviews but think that they maybe fake too?

https://www.earnforex.com/metatrader-expert-advisors/

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