Cryptotraderadvisor EA Review: Scam Crypto Trader Advisor
Welcome to the Cryptotraderadvisor EA Review. The Crypto Trader Advisor is an EA designed for MT4 platform trading.
The developer of this EA is unknown. However, the anonymous individual tells us that Crypto Trader Advisor has been tested with many brokers and found to be extremely profitable.
This EA allegedly closes 90% of its trades in less than one hour because it scalps the market. The developer says that the robot does not trade based on arbitration method.
Cryptotraderadvisor EA is considered the best expert advisor in 2018. This is according to the developer.
While it trades Forex pairs, it also trades Crypto pairs like BTCUSD, ETHUSD, LTCUSD and others.
The reason why this developer thinks Cryptotraderadvisor EA is unique is because they have designed it with many indicators, plus they claim it conducts neuronal analysis for the market and broker conditions through a set of data which it gathers and uses for future trades.
By using this kind of artificial intelligence, the developer believes that the robot qualifies to be called the best expert advisor in 2018.
But of course this is a very interesting robot, and I am going to conduct a thorough investigative analysis to let you know what I think about this piece of trading tool.
Cryptotraderadvisor EA Review
While the developer is anonymous and their track record for developing expert advisors is also unknown, they can be contacted through the email [email protected] or chat between Monday and Friday (although the chat box is always inactive).
They are unavailable on weekend and holidays. I do not understand why this is so because Cryptocurrency markets are live even during the weekend.
I feel that this can be a disadvantage to customers who find themselves trading Cryptocurrencies on weekends using this EA.
Other than this, the developer promises a 30 day money back guarantee, a verified myfxbook account and the ability to make money every day with this EA from many different pairs in the market.
We are told that Cryptotraderadvisor EA uses the concept of neural data collection, which essentially means that previous historic bars are grouped together in relation to the next bar. From there, the Crypto Trader Advisor EA can know in advance what the next pattern will look like.
It analyzes market conditions and also those of your broker. I assume that this is the reason why the developer says they tested it with many brokers.
The developer does not tell us what kind of monthly returns we should expect from the Crypto Trader Advisor EA. All they say is that it is the best EA in the world for trading Forex and Cypto pairs.
I will be looking at the evidence later on in this Crypto Trader Advisor EA review. For now, I will proceed to discuss the nitty gritty details of the robot.
Cryptotraderadvisor EA Review – details of the product
The details of this robot are as follows:
- It trades a number of pairs which include EURAUD, EURUSD, EURCHF, USDCHF, USDCAD, BTCUSD and ETHUSD.
- It scalps the 1 hour time frame
- There is only 1 license per account and no trial is available
- Lifetime license costs $699, but there are two other licenses costing $299 each. One is for trading EURUSD pair only and the other is for trading Cryptocurrency pairs.
Additionally, the developer claims that they have tested this system for 4 years.
They also believe that we should trust their knowledge because the system was designed to learn how to reduce risk progressively and every day in your trading account.
The description part makes sense. The question is, should we give them the benefit of doubt if they have not proved performance?
That’s where myfxbook results come in. Does this developer have one? Yes. In fact, they have two myfxbook accounts but only one is active.
The other was deleted, and I suspect that the account crashed at some point because Crypto Trader Advisor EA really has high draw down percentage.
Let’s see what the remaining myfxbook account says.
Crypto Trader Advisor EA Myfxbook performance
This myfxbook account was created in March 2018 and has been actively tracking the results of Crypto Trader Advisor up until now.
I am seeing a very abnormal figure in the overall gains section of myfxbook.com.
This robot has allegedly gained +107,448.25% which is slightly higher than the absolute gain of +84,171.42% (as at the time of writing this CryptoTraderAdvisor EA review).
This simply means that the developer has funded this account multiple times. This agrees very well with the statement which I made previously that this robot has a high draw down which might have led to the blowing up of the first account, and thus they had to delete the myfxbook account showing the poor results.
While still at it, the gains are too good to be true. According to this myfxbook account, daily gains are slightly below 4%. Monthly gains are at 200%. The math just doesn’t add up.
Unfortunately, draw down percentage is at 50%, which is really high. It simply means that a single trade gone bad can make CryptoTraderAdvisor EA wipe out nearly the entire account balance.
That is how bad it can get. To cut the long story short, the gains are absolutely ridiculous.
While CryptoTraderAdvisor EA can make quick short term gains, it simply means that the robot is risking too much to bare.
On this account, I think it is not worth using CryptoTraderAdvisor EA because trading results do not line up with the promises of the developer.
CryptoTraderAdvisor EA Reviews
One of the most critical accusations I have heard about this vendor is that they tend to ban user accounts with no refunds at all.
I have come across at least 3 testimonials from customers who claim that the vendor did not honor their promised 30 day money back guarantee.
It also appears that only a few individuals have tested this robot, and thus there are not so many reviews about it except the few negative ones which I was able to read from the myfxbook account where the robot was deleted.
CryptoTraderAdvisor has a lot of setbacks and my recommendation is that you should not use it. First of all, I do not like the pricing structure since the vendor is charging $299 for a license that only trades one pair.
Secondly, the lifetime license is a bit on the higher side. For a robot that has a reputation of burning accounts, this is far from offering value for money.
And of course the vendor of CryptoTraderAdvisor EA is anonymous. These signs tell you how shady the vendor is.