CENTOBOT review is a must for online traders. It will give traders a brief introduction to the exchanges and its services in the market. Before trading online it becomes important to analyse and discuss the services of cryptocurrency bot and have a comparison.

To simplify the process we have researched and found out the significant details of the CENTOBOT cryptocurrency bot. So, let’s get into the details of the bot and decide whether the platform is worth trading or not. 

What is CENTOBOT?

CENTOBOT is a cryptocurrency trading bot. The platform hosts multiple trading robots that specialise in forex and crypto trading. It applies sophisticated algorithms that enable scanning markets and help in making trading decisions. 

The bot supports traders to create their own trading robot on the platform. However, as per the market research and analysis the platform is said to be a scam. It baits traders to deposit funds through scam brokers. 

The platform was created in 2017 and the website of the trading bot claims to have won the best robot for binary options award in 2016. That’s confusing for the traders but with research we found that the platform associates with BinBot Pro. 

It is another platform providing numerous trading bot. But, to have a clear understanding on its services here we have other aspects of the bot discussed below with CENTOBOT review. 

CENTOBOT Overview

Established In

2017

Official Website

www.centobot.io 

Minimum Deposit 

$250

Account Currency

USD, EUR, GBP, BTC and LTC

Instruments

Binary Options (fiat currencies and cryptocurrencies)

Is CENTOBOT Safe or Scam?

CENTOBOT is a scam as it does not have any regulatory body to regulate its operations. Thus, no licence is available to offer services in the market. Also, the under statement given at the website of the platform says that the information on the platform should not be seen as a recommendation to trade binary options. 

Presence of security, authority to regulate working or trading licence makes it doubtful to trade. Besides, our research also concluded it as a scam that operates to bait traders to deposit funds. 

Not a trustful trading bot for any kind of trading services. 

Advantages and Disadvantages of CENTOBOT

Advantages 

Disadvantages 

Offers wide range of ready made trading bots 

Limited range of trading brokers at the CENTOBOT platform

Allows trading of fiat currencies and cryptocurrencies

High minimum deposit amount compared to other bots in the market

High payout percentage up to 248% of the bet amount

Lacks educational material on binary option trading 

Provides free access to tools 

Is a scam as no regulation or licence to offer services 

Allows creating customised robots 

 

No fees on using botos of any type 

 

Has simple trading account creation process 

 

Top Bots at CENTOBOT

Here we have the top robots that traders can access at the platform: 

  • Cryptobot v2.0
  • Bitcoin Algo v2.1
  • Ethereum Rise v1.1
  • Crypto Majors v1.1 
  • Altcoin Combo
  • Create your own robot option 

Why is CENTOBOT a Scam?

CENTOBOT is said to be a scam. Here are the reasons which have made us think of the platform to be scam and not a genuine platform to trade with: 

  • False information on the website of CENTOBOT is the first thing that makes it a scam. The statements are confusing for the readers at one place it says to have begun offering services in 2017 while on other hand, it says to have won an award in 2016. 
  • Negative feedback of the traders. Many traders who have used the services of the bot have said that they have lost their funds at the platform. The accuracy level of the platform is 10% whereas the best bot should have 90% accuracy. 
  • Another reason for considering it as a scam is it partners with unregulated brokers. It operates with cahoots and it has high chances that it is a gateway for the scam brokers. They disappear with the traders deposits and they also share details of the traders with other parties making it a risky platform. 
  • Customer services of the bot are also said to be poor. Traders cannot expect any kind of help at the bot. There is a live chat option and email which traders can use. However, email mostly does not answer back your queries. In addition, there are complaints online regarding the services of the bot. 
  • Unreliable trading platform as it always shows losses and does not have consistency. One cannot find out whether a real algorithm is working behind the system or not. 

Conclusion

According to our CENTOBOT review, we did not find the trading bot worth it. It is a scam that operates to take away the deposits of the traders through unreliable brokers. 

The article clearly states about the services of the bot and how it actually works. Launched in 2017 the bot has various options for trading with robots and also has customisation of bot options. 

So, there are some advantages for traders but it being a scam makes it not a good choice for trading online as per our market research and analysis.