Looking for the ideal online forex platform to invest in can prove rather difficult. This is due to the numerous scam sites out there looking to con unsuspecting traders. Such sites often look legit, thus making them difficult to spot. This CryptoTrader Review will help you judge whether or not to sign up for an account to begin trading with them. CryptoTrader opened its doors to traders in 2016.
The sales video within the site claims that traders will have nothing but good outcomes should they choose it as their preferred trading platform. It’s advisable you do not let yourself be swayed by claims of ‘no risk’. This is an absolute falsehood in the forex trading business as this industry is known for having its fair share of highs and lows. Accessing the online platform is free.
They operate on cloud resources, meaning traders do not need to download any software to access the platform. As such, the platform is run by automated robots. Users on this platform can trade in major bitcoin exchanges, but new traders may be a bit disappointed as there is no CryptoTrader demo account. However, this isn’t a huge setback considering all trades on the site are automated.
Find the best trading platform. You capital is at risk when trading. Be careful.
Is CryptoTrader A Scam? Is CryptoTrader Regulated?
To try and determine whether a Forex trading site is a scam or not, the first thing traders need to do is to check whether a site is regulated. This will help instil some faith in that particular site. When it comes to CryptoTrader, they cannot be regulated. This is because the platform is fully automated and does not hold its clients’ funds. Therefore, traders who wish to do their due diligence should, instead, check regulations held by the brokers linked to this platform. Some CryptoTrader Scam rumours come about due to the results they post on their platform.
There is a page with people’s names, email addresses and the amounts they’ve made during that week. They do this to show potential clients that their site offers results for its clients. This is perhaps the biggest indicator that the site isn’t safe. Privacy policies on any given trading platform expressly mention that the site owners keep client information confidential. Legit sites do not disclose information on those who have been successful with their trades. This is because anyone who visits the site will get that information and can proceed to use it maliciously.
Alternatives To CryptoTrader
If you would still like to try using the CryptoTrader platform for your cryptocurrency trades, that is your prerogative. The fact that the process is automated puts forex trading newbies at ease as they simply need to sign up, make deposits and wait for the magic to happen. However, if you’re looking for alternatives that have more verifiable track records, then looking at AvaTrade might . This forex trading platform has been around since 2016. It is a platform that gives its clients educational resources and a demo account to help them learn the ropes. AvaTrade is regulated in Ireland, Japan, South Africa, and Australia.