DaxRobot is an automated trading product associated with the Daxbase.com broker. It is intended to work with CFDs offered by this broker. The features or the inner workings of the DaxRobot is completely obscured. There is no useful info about this robot and all signs points to be another sale funnel page similar to the Centobot we have already reviewed.
The DaxRobot website could be described as a 15-minute project without any new, non-template content except for the fake rewards and 3 step guide to registration (the same as with Centobot). Since the lack of information is even more pronounced than with Centobot, it is possible the visitors to this page already come from a marketing email or link with some unethical form of marketing. No one would invest is DaxRobot with just reading these 3 steps unless receiving some prior information.
If you register you will see the classic registration form and you will be able to open accounts in USD, EUR, Bitcoin and Litecoin. DaxBase broker will offer a 5% bonus if you choose the cryptocurrency, probably since there is no way of charging back them once they are sent, unlike with the Visa or MasterCard using fiat currency. There are 10 top robots list that you can select. The most successful one called CryptoADX 2.0 shows a profit of 364% gain. According to the support chat representative (the same one as with the Centobot) the timeframe for this measurement is 2 weeks. Of course, the gains this high could only be possible with extremely reckless money management and very catching several extreme market movements.
The lowest-performing one is the RVI and MA with a 96% gain. There are no details about any of them except for a few lines about how they operate. So for example, Crypto ADX 2.0 is based on the ADX indicator, probably for filtering, and RSI and Stochastic indicators. The minimum deposit requirement for this robot is $500. The number 4 on the list with allegedly 226% gain is the Ichimoku Crypto v2. This one is designed for BTC/USD, LTC/USD, and the rest of the major crypto. The trading is guided by 4 indicators, including the Ichimoku, and based on the trend breakout strategy.
All of the robots have the robot demo mode. This demo mode is fake and is just another manipulation step. Once the demo is run, the animation will show some sliders on various currency pairs to move, and below a balance, the chart will show how the robot is opening and closing trades in profit. The demo animation will last for a few seconds and always show some profit. The chat representative confirmed with us that this is just an animation, which was unexpected. You will also have an option to create your custom robot based on the MACD, RSI, Stochastic, RSI, ADX, and Aroon indicator. All of the indicators have timeframe settings of 5, 15, and 30 minutes. You can select which ones are used and on which trading asset. There is the option to save this robot although all this is probably just a gimmick like the rest of the website.
Interestingly, the authors described the Ichimoku indicator as “created in Japan and has been under-estimated by traders in the West due to the lack of guidance on how to actually use it”. Of course, this is a manipulation line targeted at beginners that could be scared away by the somewhat complex Ichimoku indicator looks. The minimum deposit requirement for this robot is $250. The rest of the robots have interesting strategies. The number 5 on the list, HP cycles robot is described to work on the momentum strategy using the Hodrick and Prescott cycles.
A few words about the DaxBase broker you will be registered with, in case you really want to open an account with this robot service. This is an unregulated, offshore CFD broker owned by Finance Group Corp. (FCG). This group is known for many scam reports and is blacklisted by many state official bodies such as the French AMF, FMA of New Zealand, etc. Whatsmore, the group owns many more binary options and CFD brokerage brands that serve as the sales network for the same shady company. DaxRobot is just another sales funnel that uses automated trading popularity to lure beginner traders.
This Forex service can be found at the following web address: https://www.daxrobot.com