Published on February 19th, 2020 | by John Kane0
FX Coin Bot Updated Review
FX Coin Bot is yet another trading robot for the Cryptocurrency and Forex trade market. It makes use of various techniques and strategic indicators in order to let your trade dreams manifest on auto pilot. One of the claims that its developers makes is that it’s a very simplified bot that can be used by amateurs or newbie traders. Since, the newcomers in this trade sector are not well aware of the finer details and tactics of the marketplace, FX Coin Bot seems like the dream option because of the over-simplicity of design and operation. But is this really reliable? Or, is it a scam?
One of the surprising factors about FX Coin bot is that the developers or company owners are shrouded in secrecy and any information regarding them has been kept anonymous. Although, the software claims to make CFD trading pretty simple and interesting (especially for the newbie traders), anonymity of developers still puts a big question mark on authenticity and credibility. At the very least, it disturbs me a little bit to not know the who is behind a product and puts the customer (investor) in a big risk situation when it comes to making an investment.
Getting to Know FX Coin Bot, Inside-Out
Every CFD bot starts with claiming to be “secure” and “best” in the market; but is FX Coin Bot all of this? Well, it is hard to find a lot of negative reviews about this. Firstly, you don’t have to download the software because it’s all on the cloud.
Secondly, the developers of this software claim that it is one of the most proficient systems out there that is making Forex and CFD trading not only simpler but also purely fun! They have set into motion an efficient trading system (much like our binary options software) that is backed with tons of research and tested (proven) market strategies to make the trading automated. Even with all this functionality, this Forex and crypto trading robot claims to demand no subscription fee for joining; i.e. FREE signup and no upfront charges. Eventually, you would have to invest some amount in a trading account, in order to get the software running (however, it’s all on auto-pilot…sounds cool!).
Another worth noticing factor in FX Coin Bot is that it tends to both types of Forex pair, BTC/USD and USD/EUR. Now, if you have stepped into the Forex and crypto market, you would appreciate this functionality a lot. This adaptability means that you get to have more options as a trader (which is a win-win situation) and just in case you are interested in making investments in FIAT currencies, FX Coin Bot would be able to assist you.
FX Coin Bot, ironically, puts more emphasis on the fact that it’s not a subscription based platform. This “free signup” feature seems like a minor detail when you start observing other features that are more focused on the strategy and the indicators backed by tested techniques and trends.
The bot appears to be utilizing its powerful operating strategy from three streams…MACD, Exponential Moving Averages and Trend. FX Coin Bot indicators make use of the EMA, Bollinger Bands, Price action movements (they also mention, Ichimoku Kinko Hyo) and Stochastics. The developers claim that these techniques have 30-year history of success (that came with gradually improving on incoming data and results).
To explain FX Coin Bot’s strategy in simple terms, it would suffice to say that it is a combination of trading app and signals provider much like DaxRobot. Since, it is an automated bot it employs intricate algorithms to offer you most targeted trading solutions (thus enhancing the chances of success).
Here are some facts and figures about FX Coin Bot…
● Company Information: Not Available
● Founded: Aug, 2019
● Strategy: Combination of signal provision & trade application
● Trading Results: Not verified
● Price: Free signup (deposit required for starting the bot)
Although, the signup process is absolutely free of charge…you would certainly need to fund the account in order to start the bot on auto-pilot. They require a minimum deposit of around €/£/$250 (but you can always start from more than that, e.g. €/£/$500). It is advisable to start with the lowest allowed investment to observe how things work out for you.
The official website of FX Coin Bot does not share any information regarding trading results, which is another flaw that the app-owners must rectify.
Even though the developers of FX Coin Bot haven’t mentioned any trading results, a lot of traders review it to be very positive. One of the users have shared that they “invested €500 initially and secured a good profit in just 3 working-days”.
Even with all of these features, I wouldn’t shy away from observing and commenting that the developers take somewhat amateur stance while introducing the product in todays’ competitive FX marketplace. The first mistake is the very absence of any information about the developers and then the website layout that they are using is very commonplace in the binary options trade market and seems more like a scam layout. They could have put a human face to the product to increase connectivity with potential traders and should have added some differential elements in the web-theme as well (to stand out from the crowd).
Now, FX Coin Bot is undoubtedly a recent launch and we may give benefit of doubt to the lack of certain required information (e.g. trading results that may have substantiated the lofty claims) on their website. With this limited time at hand, the bot has safely avoided any negative upheaval in the trading community and has mostly received appreciation and endorsements…so it does seem like a good product to try out. However, one can only test the waters by stepping in, but remember to put one foot at a time as opposed to going all in and getting drowned.
I would rate FX Coin Bot a 3 out of 5 stars.
So, will you be giving this newly launched (visionary) bot a try? Share your feelings (Comment below) towards this bot…hopeful or apprehensive?
FX Coin Bot
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