DAXrobot is an automated Forex and CFDs trading robot. The software is connected to a broker called DAXBASE, and so users don’t have the freedom of choosing their preferred brokers if they opt to use Daxrobot anyway.
Because DAXrobot is an automated trading tool, it is supposed to make work easier by letting you sign up, fund your Daxbase account and start trading immediately.
According to the sales page, getting started involves signing up, making a deposit and launching the robot.
There is a screenshot on the sales page of DAXrobot which suggests that users have to choose which robot they want to use according to their income expectations.
So this could mean that DAXrobot has a number of strategies which are considered individual robots within the DAXrobot package.
The last step involves launching the robot which will automatically begin trading with your balance.
Of course this sounds so simple to do. But the question is, should you trust this trading solution? Is the broker DAXBASE even regulated?
Something is obviously not right with this robot. When you look at the screenshots which were presented in the sales page, you will realize that these screenshots suggest that DAXrobot is a popular trading bot on the internet, and the problem is that it is a generic trading bot.
You won’t believe it, but I have seen this robot many times before. It has been responsible for losing money since 2015 when Binary Options were popular.
DAXrobot is just a white label as opposed to a robot that was constructed from ground up in order to cater for the demanding market conditions.
I can assert with confidence that DAXrobot or the underlying software that powers DAXrobot was created by scammers who want to make quick commissions by attracting unsuspecting traders to shady brokers.
DAXrobot is a scam
First of all, this is one of those free robots, and if you thought that you could double or triple your investment with a free trading app, you need to think long and hard.
DAXrobot cannot make you money for the simple reason that a free robot does not have the engineered capability to make consistent returns in the long run.
It is just not the way things work in the real economic environment. If making money was free, there would be no poor people in the planet, right?
So when it is too good to be true, think twice before you commit.
DAXrobot is an illegal product in conjunction with DAXBASE
The broker DAXBASE is not regulated, which is also contrary to what they state on the homepage of their site claiming that they are regulated.
The other concern that I have is the anonymity of the broker in question. DAXBASE does not have a physical address. They only provide us with their phone numbers and that’s all.
Financial trading of Forex and CFDs is regulated in most countries where brokers target clients. So any broker who wants to offer these assets must be regulated.
This means that we cannot guarantee the safety of your money in the hands of this broker.
If you want regulated Forex and CFDs brokers, just go here.
DAXrobot, when you combine it with this shady robot DAXBASE makes a perfect recipe for financial chaos in your life.
Always be watchful when you come across a landing page that is insisting on using their own brokers rather than having the freedom to choose what brokers you want to work with.
But just in case you’re confused about what software to use for Cryptocurrency trading, my top recommendation is to try the following resources.
PS: Also, if you got scammed, let’s know in the comment section below.
Daxrobot is a free robot for trading Forex and CFDs. You can’t make money with a free robot. Also, beware of DAXBASE since they are unregulated.