Binarycent – Centobot – review and feedback about the robot for options and crypto currency

Overview of known robots for automatic trading of crypto-currencies: Binarycent - Centobot

Analyzing existing trading platforms that allow you to earn money on international financial markets using traditional tools (currency pairs, shares of enterprises, crypto-currencies, contracts for raising / lowering prices, etc.), it’s overwhelming that so many of them are semi-fraudulent schemes that exist at the expense of traders.

The most prevalent among these schemes is a financial pyramid scheme, when new traders pay for the “profits” of old traders, while leaving decent interest to the creators of this online site.

Of course, every opinion has the right to exist, but it is impossible to work under the above scheme for five to ten years, almost every student of the third or third year of any higher economic institution in our country that has existed for more than twenty years will confirm this.

But even if such phenomena occur (one should not forget that there can always be exceptions in any rule), the purpose of this review is not to prove or disprove this, but its main task is to show how such robots of automatic trading of crypto-currencies function as Binarycent – Centobot or similar to them.

What is an automatic robot trading Binarycent - Centobot?

An automatic robot trading program is a specific software product designed to take the legwork out of trading.

Users design parameters around entries, exits, and money management, and the robot will perform the trades automatically according to those rules. Its appeal is that it removes emotion from the trading equation, since it trades automatically once certain criteria are met.

Robots are typically used to conduct Forex trades, so traders who are familiar with automated Forex programs may not see any issues with Binarycent – Centobot’s application to crypto-currency.

That said, the process of automated trades – especially in such a volatile market as crypto – breeds some mistrust amongst experienced traders. Given that, we’ll explore the question: Can we trust this bot’s automatic trading of crypto-currencies?

Security

Binarycent – Centobot was launched in the cryptocurrency market in 2017. At the time of writing, it works with only one broker, BINARYCENT… Although on the official page, one can find information that the robot maintains business relations with many well-known brokers, which should raise red flags even for beginning traders.

Another red flag is the lack of credentialing: no licenses, no permits, and no official regulator. In the “Awards” section of the site, potential users can see that Binarycent – Centobot was dubbed “the best robot of binary options in 2016,” despite the fact that, as mentioned earlier, the platform was launched in 2017. It is also not clear who awarded this “title.”

Further bewildering details include the percentages of profits that can be earned by registering on the Binarycent – Centobot login: 120%, 150%, and even 300%. Despite the relatively long period of the site, there are practically no real comments about it (only advertising reviews, which say that it is a reliable resource that allows you to earn using ready-made bots or by customizing your own robot).

In short, nothing on the site inspires much confidence; the promises of profit are too good to be true. “Increase investment three times, during the day” – a promise that looks too implausible, even for the most starry-eyed trader.

Training

Any experienced trader opening a demo account on Binarycent – Centobot will be surprised by the indicators purported by the robot. As already mentioned, the site claims daily profit of 200%, and sometimes 300%. Of course, to an experienced user, those figures will set off alarm bells; however, inexperienced traders may be suckered in by such a promise.

Binarycent - Centobot: overview of the main requirements and financial indicators

For a full study of what each review prepared for Binarycent – Centobot should demonstrate (this applies to any trading platform or bot), it is necessary to pay attention to the following parameters:

• The minimum deposit amount is $250 (although on the relevant exchange, $10 is indicated).
• The minimum bid is $0.1.
• The maximum income is 90% (it is difficult to find an online site or robot that promises a higher number).

How to replenish an account or withdraw money earned

Considering the fact that this robot works on a crypto exchange, the following cryptonyms are usually used to replenish the account:

• Bitcoin;
• Litecoin;
• Ethereum;
• DASH;
• MONERO;
• ZCash and others.

For replenishment, you can use the appropriate purses or exchanger-sites.

Conclusions

Based on the above data and the feedback provided by Binarycent – Centobot, the following conclusions can be drawn:

1. The untrue training data and other information presented on the web-resource point to the fact that this is likely a common fraudulent scheme.
2. Explicit errors (for example, getting the best bot award in 2016, and creating a resource in 2017) indicate inattention and low level of training of owners and administration of the resource.
3. Lack of real feedback about the site is another indicator that the site is not genuine.

Based on the above information, the conclusion suggests that the company and its robot are a standard fraudulent scheme developed by (not very clever) resource creators.

But on the other hand, the relatively long existence of the website and some non-standard approaches in the organization may indicate that the administration is attempting an unconventional approach to attract the attention of traders to their resources.

Perhaps it is worth waiting at least six months or a year to fully verify the real intentions of the owners of the company and its bot. In the meantime, traders should turn their attention elsewhere for their automated trading needs.

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