CentoBot is a platform that offers trading robots exclusively for their platform and brokers. The website is basic without much information about the robots provided and total obscurity about the company behind this service if there is one. CentoBot website looks like more as a landing page for the three brokers the robots service is connected to than any real automated software provider. The presentation will show how to register, how to set up a robot, and an account on their platform.
Whatsmore, there are 3 awards about offering “the best binary options robot” in 2016, the “Top quality” award, and “100% Confident”. These awards look like leftovers from website development page templates that serve just to fill in space, they are completely made up in a very uncreative way. All of the links on the page lead to registration, a marketing tactic used to lead visitors to registration without spending too much time reading.
CentoBot presents several of its top robots on its single-page website, including:
Cryptobot v2.0 is based on MACD and RSI indicators and works with popular cryptocurrencies. MACD and RSI are one of the most popular indicators although many newer iterations based on these are regarded as better. CentoBot dares to say that this robot generates 300% gains a month, a figure too high to be considered seriously.
Bitcoin Algo v2.1 uses past data on main cryptocurrencies to enter trades. The algorithm probably uses Price Action levels but there is no more information about this one.
Ethereum Rise v1.1 is specialized for Ethereum and uses the “CCU” (probably CCI) and Stochastic indicators. Note that both of these indicators are not designed to be used for crypto, both are developed decades ago before cryptocurrencies.
Crypto Majors v1.1 is literally described in the same way as the Cryptobot v2.0. Using the same MACD and RSI combination for major cryptocurrencies.
Altcoins Combo is specialized for altcoins. It is described as to use diversification as the primary feature.
The final option is to create your custom robot with indicators and strategies.
We went on and registered to try the demo that is offered. The registration will ask you to select 3 brokers, Binarycent, VideForex, and RaceOption. These brokers are all offshore, unregulated, and do not have positive user feedback on benchmark sites. Whatsmore, all of them are blacklisted in some jurisdictions. Once you register you can see some more robots on the list and the gains they produce. The gains are all positive and, according to the CentoBot representative, all are during a 2 to 4 weeks period. The worst top 10 robot gained 103% and the best is called xCryptoProfit with 253% gains.
You will have the option to “Unlock the robot” and “Robot Demo”. The Robot demo is false. What is presented is some slider movements on various crypto assets like the robot is in action and a chart with the balance and time axis. Of course, the demo will be over in a few seconds and an always positive report will show, usually the same gain numbers.
On top, there is a country and name initials where allegedly latest client results are shown. Interestingly, the US flag is there even though it is stated that CentoBOt does not accept US citizens. After the demo, you will be asked to deposit with the selected broker during the registration. The minimum deposit is $250 with the RaceOption, but the other 2 brokers have the same minimum deposit requirement.
We’re going to assume that each robot carries a different cost, but are unable to confirm this because costs are not shown until after an account is registered. Requiring an upfront registration is a common marketing tactic, but nonetheless, is problematic and could be viewed as rather sketchy.
It is evident that CentoBot, unfortunately, is just a funnel page for these brokers that probably belong to the same group. They have similar bonuses, offers, and marketing. The robot’s performance could not be measured and the gains presented are also most likely fake. CentoBot website does not try too hard to present a good cover and even beginners will see through the obvious manipulation.
This Forex service can be found at the following web address: https://www.centobot.com