Fact CheckedLast Updated on January 3, 2021 by Stephan Lindburg
Welcome to our Crypto Master Bot review and scam investigation. The Crypto Master Bot scam trading platform is advertised as your path to “lucrative trading With A World Class Auto Trader”. In the website, it is claimed that members get free and instant access to “Top Rated Automated Trading Signals”, and that no download is required. Today, we will explain in detail why we have blacklisted this cloned crypto robot despite the fact that it is currently being endorsed by some of the leading Bitcoin and cryptocurrency review sites. So yes, we have already hinted at the reason why we believe Crypto Master Bot is a scam trading robot despite it’s seemingly impressive design and upgraded functionality. However, in all honesty this software is marketed as a fully automated trading robot, but in reality the signals are semi-automated and you have to approve each and every signal in order for the contract to be purchased. It’s worth mentioning that there is a trend which is currently growing and it has to do with the fact that most brokers these days will not permit access to a fully automated trading API into their database and CRM. Why is this happening? Brokers will tell you it’s for security-related reasons, but that’s a half-truth. In reality they just prefer customers who they can control and get more money from without having various automated systems in place. Sounds shady right? Well, no one will tell you this but trading is like going to war and every side is busy fighting for their pound of flesh so choose your weapons wisely.
This is exactly the case with Crypto Master Bot. Complaints we received indicate to us that brokers (some regulated and some are not) are constantly trying to get members to trade manually using a strategy instead of a system. While there is absolutely NOTHING wrong with a strategy, members signing up for a certain service or software actually want to try it out and see if it works. Brokers are impatient and will immediately try to sell you one of their in-house systems or get you to trade manually for reasons aforementioned. So yes, as we suspected the affiliate networks which are promoting the Crypto Master Bot scam are out to get their commissions, whilst the brokers are pushing you to reinvest because that it their profit margin. If you don’t feel like being last in line holding the proverbial bag of nuts and scratching your head, please take a minute and read our Crypto Master Bot review because we exposed this fake trading app and fraudulent investment platform.
Official Website, Login Page, and Members Area: crypto-masterbot.com (there is a fake URL too)
Proof of SCAM
OK so here we have taken the liberty of doing a comparative illustration between the Crypto Master Bot, and FX Master Bot which is the previous version of the software. A quick look below reveals that both systems are completely identical, only named differently. Again, we want you to take a really good look at the image below so you can see exactly what you are getting yourself into.
What Is Crypto Master Bot and How Does It Work?
As it’s name suggests, Crypto Master Bot is supposed to be an automated cryptocurrency trading system. They claim the software executes automated strategies without any form of human intervention. There is also mention of technical indicators which are supposed to be “the most precise and efficient in different market cycles”. They say the system works by utilizing an algorithm which analyzes market trends and monitors real time data. In this way the app is able to “selectively peak trades with extremely high winning probability, and minimize potential risk” (or so they say).
Crypto Master Bot Review: Functionality and Trading Dashboard
In the Crypto Master Bot website, they claim that members don’t have to “analyze complicated charts or evaluate numbers” since the “robotic mechanism does the work for them. They mention “built-in algorithms” which make it easier for to follow the signals successfully. There is also a Crypto MasterBot Demo account which is “Risk Free”, but from our experience “demo” is the most deceptive of all gimmicks since you always win in demo and lose in real money mode. After testing this platform in both demo as well as real mode, we found out that Crypto MasterBot is no exception regardless of the broker which is allocated to you (regulated or not). The trading dashboard seems to be intuitive and user-friendly, as the signals are generated in a way which is transparent. There is also a radio box section where you can select or un-select assets such as Forex currency pairs.
It is also possible to reduce the minimum investment amounts by dragging the bar, so we can understand why some websites would be willing to endorse this service but it does not change the bottom line; namely that Crypto Master Bot is a losing software.
Is It Free?
As you may have guessed nothing is free. It cost us €250 to get started and in about 15 minutes the money went “poof” and disappeared as if it never existed. Our broker was Markets Cap which is an unlicensed brokerage operating out of Sofia Bulgaria.
What’s All The Fuss About?
As we mentioned, we can understand why some review websites gravitate towards this type of system and endorse it. We actually know who the people are behind this software and they are more like bespectacled computer geeks and less on the sleazy scammer type of personality so we are classifying them as nerdy scammers and advising our members to avoid Crypto Master Bot.
Fake Crypto Master Bot Reviews
Well this is a thorny issue because various industry review websites do have a point in the sense that the software is scale-able and allows you to control your risk level. Still, sometimes you have to transcend and look beyond the features and ask yourself if the system delivers as it should. The answer is simple, it does not.
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Legitimate CFD Trading Versus Fake Apps
We like trading crypto CFDs and know for a fact that it is an excellent way to generate money, but you have to know what you are doing or at least get your hands on some serious systems. In this context the Crypto Master Bot scam is in many ways “playing pretend” in the sense that it tries to project a sense of authenticity, when in fact the opposite is true. The contract rates are presented clearly, and there is control over your risk but at the end of the day the automation is faulty and performance is sub par.
A Few Tested Alternatives
Don’t stress it’s OK. If you are totally standoffish at this point it’s very well-understood, but if you are still in the mood to try out something new which actually performs consistently then we invite you to check out our recommended section where we list all the systems we tested personally.
Crypto Master Bot Review, Summary, and Conclusions
We have decided to blacklist the Crypto Master Bot scam signals app and bogus auto-trader. We know that you will lose your money if you invest because we received complaints from our members and they all point to the same conclusion (it’s a scam). If you believe we have misjudged or have gone too far with our conclusions, simply reach out via our contact page or social media and we shall try to produce additional proof or evidence for you.
