ROBOTWALLET REVIEW: Robot Wallet Is A Fake Auto Trading System

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Before you delve in to read this review, it is pertinent to note that the internet never forgets.

Robotwallet.net is a fake website that aims to defraud its victims without any atom of pity. Robotwallet is manage by group of Nigeria fraudstars known as Yahoo-Yahoo. Robotwallet just finished scamming their victim in their other website called CALA AUTO TRADING ( Go to this telegram group and confirm that Robot wallet duped Cala investors over $1billion==> https://t.me/+UiVlMiw6Sjw0MWE0)

cala investment crashed

Before you dash your hard earned money to con-artist in Robotwallet and cry fowl just note that Robotwallet was lunched on September immediately after they duped their cala victims. See evidence when Robotwallet.net was created below

For the fact that robotwallet was recently lunched is enough reason for you to run away from them.

Also, the owner/s of robotwallet are faceless and all the documents displayed on their website doctored (photoshoped) to look real.

How to Spot Robot Trading Scams

There are various things to look out for that will enable you to spot and hopefully avoid a robot trading scam. Many of these automated systems are available through reputable, registered and regulated brokers, but some can be bought privately. Be very wary of private third-party vendors, especially if they approach you with unsolicited advice and start to employ a ‘hard sell’ to get you to buy their system. It is generally much safer to use the robot trading systems provided by your broker, assuming you are using a reliable broker who is fully licensed and regulated. In any case, it is vital to research any software you are offered thoroughly before committing to spending any money with the provider.

Untested and unverified systems have the potential to make trades incorrectly and lose money for traders. Unscrupulous companies could even programme their software with a deliberate bias that affects outcomes negatively for traders. Other software may not be working against you but might be just trading randomly, so it is unlikely to give you the profits you are hoping for.

As with any potential forex scam, always be wary of anyone promising you ‘guaranteed’ or unrealistically high profits. The adage ‘if it sounds too good to be true, it probably is’ should always be kept in mind when assessing robot software for potential use. Any system that offers consistently high profits, especially for a low price, should always be approached with caution. Remember that some scammers deliberately sell systems reasonably cheaply. They are working on the assumption that they can make high sales volumes at a lower price, and people are less likely to bother to chase them up or complain if they have only spent a small amount of money.

New scams are often based on old tried and tested models that are simply reapplied to a new system or technology. The idea that automatic trades can be generated that earn money while the trader is asleep is a con as old as the markets themselves. So, examining what is on offer and conducting in-depth research is key to avoiding fraudulent robot schemes.

how to spot and avoid robot trading scams

Do your research and take a look at reviews and ratings, both from other customers and from industry sites. If a system has been submitted for formal review and tested by an independent source, that is undoubtedly a good sign. However, even these kinds of reviews can be faked or cloned from other reputable systems, so look to the source of information rather than just take something posted on a company website at face value.

Testing a trading system’s parameters is essential, as an incorrect setup will generate random buy and sell signals that will cost unsuspecting traders money. On the question of cost itself, automated trading systems have been around for a while. Although they used to be very expensive, they now tend to be much cheaper, so a system charging a very high price is actually a red flag.

Co-mingling of funds is another trick that fraudsters can use. This means that individual investors cannot keep track of the actual performance of their investments, which can allow unscrupulous companies to take advantage by way of high outgoings that end up coming out of their clients’ pockets. Of course, co-mingling isn’t always a sign of fraud. To reduce the risk in this area, always ensure you are using a reputable broker.

Other warning signs that a particular robot trading scheme might not be legitimate are similar to many other potential frauds. If a broker doesn’t allow withdrawal of funds, if communication is slow or non-existent, and if trading problems occur regularly are all danger signals that need to be considered.

The usual rules for ‘due diligence’ and careful investing can help traders separate the good systems from the bad or fraudulent ones. Ask questions before investing and research the company carefully. Choosing a system or platform that offers a no-commitment trial period is always a good idea, so you can try out the system before you buy.