Centobot Review: Is It A Scam Or Legit?

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Centobot hosts many trading robots, one of which is focused on crypto-assets and forex. The software allows traders to build their own robots. Centobot was established in 2017 and has been awarded the best binary option robot award 2016.

 

It was confusing as it was established only one year after being supposedly awarded an award. Centobot was discovered to be linked with BinBot Pro, which offers many trading bots. BinBot Pro is a specialist in options trading forex and crypto assets. This is the only distinction between Centobot and BinBot Pro.

 

Centobot Regulation and Safety

Centobot is currently not regulated. However, this is a common practice for trading bots. The software is not subject to regulation. It works with brokers, so you will need to confirm if they have licenses.

 

Centobot is a partner with IQCent, RaceOption and BinaryCent brokers. According to their websites, all these brokers have been licensed. Only one broker is listed as the regulator.

 

When you sign up, Centobot will secure your sensitive data from hackers. Centobot’s website and web-based platform are SSL certified. This certifies that they are able to pass on all information you give them directly without any interference from unwelcome third parties.

 

Centobot Features

Centobot offers unique features. Centobot’s unique features are the reason it is so popular.

Top Recommended Platforms

MIN. DEPOSIT

$250

EXCL. OFFER

USER RATING

9.8

4.9/5

MIN. DEPOSIT

$50

EXCL. OFFER

USER RATING

9.7

4.8/5

CFDs are complex instruments and carry a high risk of losing money quickly through leverage. 78% of retail investor accounts lose money when trading CFDs from this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

MIN. DEPOSIT

$250

EXCL. OFFER

USER RATING

9.3

4.5/5

CFDs are complex instruments and involve a high risk of losing money quickly because of the leverage effect. 65.3% of retail investor accounts lose money trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

 

These are:

 

  • Web-based trading platform
  • An award-winning trading robot
  • Registering is easy
  • Popular Crypto and Forex assets
  • Personalize your robot
  • There are more than 15 deposit options
  • No mobile trading facility

 

Charting

Centobot is not a charting software and is a third party trading bot. It may not be of any use to regular clients. Instead, Centobot displays a graph that shows the profitability of specific bots.

 

Clients can use this graph to decide if a bot’s worth their time. These robots can be tested by clients using the demo. Third-party charting software is recommended for veterans to enhance their bot trading.

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When bots spot market conditions, charts can be used. This allows investors to make a decision about whether or not to invest.

Centobot Mobile App

Centobot does not have a mobile application. Centobot’s web platform provides access to all of its services. This is advantageous for clients as the system should be available at all times and should not be interrupted by the phone switching off or using less power.

Demo Trading

Centobot offers traders a demo account. This demo account is for traders to familiarize themselves with the bots. The bot can only run for 1 minute.

 

Traders on the 10 most popular trading platforms can run a demo robot. Click on the robot that you want to demo, and then click “Robot Demo”.

 

The initial virtual amount is $1000. After you complete the trade, you can see your final balance.

 

Surprisingly, the demo test ended in profit. Demo trading is very different from the financial environment.

 

Payment Methods

Centobot does not add funds to your account. Your funds will be transferred to the broker of your choice. Centobot partners up with brokers to offer payment options such as wire transfers and credit cards.

 

Deposit

As mentioned, you can also use credit cards to deposit money. Visa and MasterCard are both supported. You can also deposit Bitcoin and Litecoin, Etherum, Ripple, and 14 other cryptocurrencies.

 

Brokers require a $250 minimum deposit. You should check the broker’s website to verify that they have different account types. If you add funds to your MasterCard or Visa card account, you will need to pay a transfer fee of 5%.

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The amount you have deposited will be immediately reflected in your account. You might experience a slight delay in receiving your funds if you deposit on weekends or holidays. Rest assured, funds will be credited to your account within one day.

Withdrawal

To withdraw funds from the platform, you will need to request withdrawal. To withdraw your funds, you will need to show proof of identity as well as proof of residence to the broker.

 

You can also withdraw funds using any of the above methods. Fees may apply depending on which account you have. If you withdraw funds with your credit card, you will be charged a transfer fee equal to 5%.

Bonus

Centobot does not offer any bonuses. BinaryCent and Raceoption offer 200% bonuses for customers who deposit $1,000. This bonus cannot be used for trading funds. You cannot withdraw the additional 200%.

 

Conclusion

Centobot is a new trading robot, launched in 2017. It’s now available for purchase. We discovered a problem in their awards section.

 

After thorough research, we found that the trading software was legal and suitable for all investors.

 

One problem was found with their 2016 award.

 

Unlike the binary.com auto-trading robot, your bot can only be created using three indicators.

 

Another good way to invest is with Centobot. This software lets you explore the financial markets.

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