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Algo Robotics is one of those trading robots that use spam marketing to get new signups. The platform alleges to be 100 percent automatic and to make an average of $5k in profits per day. But is it legit? InsideBitcoins investigation reveals that Algo Robotics is a scam. You will lose money if you open an account with them.
In this review, we will look at the red flags that show that this platform is a scam. We will also recommend alternative robots that are legit. Our legitimacy test takes into account factors such as profitability, transparency, reputation, safety, and customer service. Keep reading to learn more about Algo Robotics. Click the “trade now” button in the table below if you prefer to go straight to a legit robot.
Is Algo Robotics scam? Yes!
What is Algo Robotics?
As mentioned earlier, Algo Robotics is a self-proclaimed crypto, forex, and binary options robot. However, our investigation shows that it is a scam platform. Further research reveals that the con artists behind the platform are well-known scammers. These fraudsters run several scam platforms, all to solicit and steal deposits.
Moreover, there is a high likelihood that this platform is not what it claims to be. They claim to have high-level algorithms powered by artificial intelligence. However, we did not find any evidence that they have these technologies. We are sure that there is no algorithm beneath their web-trader. Furthermore, their platform does not connect to any real broker, and therefore, there is no trading that takes place.
In general, trading robots apply complex algorithms to scan markets big data and generate trading insights. The insights are applied automatically in the trader’s account. Top trading robots such as Digital Payday rely on advanced technologies in AI and Machine Learning. These technologies allegedly ensure an accuracy level of nearly 100 percent. Digital Payday reports an average daily profit of $1700. Read our Digital Payday review to learn more.
How does Algo Robotics work?
Algo Robotics relies on spam marketing and unscrupulous affiliates to get new signups. The spam marketing involves emails asking the target to open a link and discover a secret to becoming a millionaire. When you open the link, you redirect to their sign up page. Here you will find a video that claims that the platform has helped people come from rags to riches. Of course, the video is fake and only meant to make people sign up without thinking.
Furthermore, the affiliate marketers that promote Algo Robotics use deceptive techniques. Some falsely claim that this platform has endorsement from top celebrities and mainstream media. Several reviews are suggesting that this robot has appeared on Shark Tank. Likewise, some falsely claim that notable figures such as Steve Baxter and Janine Allis recommend it. We can confirm that these are all lies. It is typical of scam robots to associate themselves with mainstream media and celebrities falsely.
Why Algo Robotics is a scam
Algo Robotics: Key Features
InsideBitcoins investigation shows that Algo Robotics is a scam. The platform appears configured to make predetermined losses. You won’t make a dime through this platform. Read our Bitcoin Code review for a legit robot with a high claimed profitability.
Unsafe verification process
Algo Robotics verification method is not safe. InsideBitcoins investigation shows that they expose users’ data to third-party scammers. There is also a high likelihood that they will sell our data to hackers. There are complaints about people getting infected with malware after clicking on the links in their spam emails.
Algo Robotics does not allow users to withdraw their trading capital. As mentioned earlier, they are likely to ban you from the platform if you insist on withdrawing your capital. The scammers behind this platform make money by stealing deposits. We recommend that you stay away from this platform.
The majority of traders who have tried this platform report making consistent losses. Traders report losing their entire deposit in less than an hour of live trading. There are also many complaints about their unresponsive and often rude customer care.
Algo Robotics provides email as the only channel of communication. Our live test shows that they only respond to inquiries relating to deposits. They are likely to ban you from the platform if you insist on withdrawing your trading capital.
The brokers listed as Algo Robotics partners are all fake. We did not find any information regarding their legal registration or regulation. It is typical of scam robots to partner with scam brokers. The roles of a broker in robo-trading include handling deposits and facilitating transactions. With a scam broker, there is no way for the trader to trace their deposit and lodge a complaint in case your deposit is lost. Visit our main page to learn more about brokers and the best trading robots.
How to determine a legit trading robot
Scam trading robots tend to have similar characteristics. This means that for a keen trader, they are easy to detect. Here are the key areas to explore when determining if a trading robot is legit.
- Reputation – Read other users’ reviews on consumer reviews sites such as TrustPilot. A legit robot should have generally positive reviews. Avoid robots with a lot of negative reviews and those with few perfect reviews.
- Transparency – Legit robots reveal crucial details, such as legal registration and partner brokers. Scam robots are likely to keep these details away or even lie. Most scam platforms tend to use stock photos to build testimonials. You can determine if this is so by conducting a Google reverse image search on one of the images on their website.
- Marketing approach – Beware of any platform that promises ridiculous profits without elaborating on their trading technology. Also, avoid platforms that reach out to customers through spam marketing.
InsideBitcoins takes into account these and many other factors when determining a legit robot. We provide comprehensive reviews to help you differentiate legit robots from the many scammers out there. Please browse through our auto-trading robots section to learn more about alternative trading robots.
Is Algo Robotics legit? The Verdict!
Algo Robotics is a big scam, and you should avoid it. InsideBitcoins can confirm that this platform is used by scammers to steal deposits. You will lose money if you sign up with them. Our investigation further reveals that Algo Robotics operates in cahoots with offshore scam brokers. These brokers are untraceable meaning that there is no way for traders to hold them accountable for their deposits.
Also worth noting, this platform exposes users’ data to other scammers. They appear to share the data with other sham brokers and robots. Likewise, their platforms are unsafe and therefore, likely to expose users to hackers. We recommend that you avoid Algo Robotics. Instead you can try Digital Payday, a legit robot. InsideBitcoins carries out in-depth research to determine legit trading robots. Click the ‘Trade now’ button in the table below to start trading with a legit robot.