The Crypt EX is a new automated trading software, that was released in July 2020. It is similar to many other systems we have reviewed already. The Crypt EX is integrated with many CFD brokers, including some licensed brokers, and many offshore brokers.
The website we are reviewing today is: The-Crypt-EX.com.
The Crypt EX Review
We reviewed this automated trading app for Crypto and see that they are unique in that there is real automated trading available. Many of the systems advertised on Fake News websites, redirect you to a broker with no automated trading available.
When a day trader or investor is comparing an automated trading app, the most important thing to do, is verify you were assigned a licensed and regulated broker. Depositing money at an offshore broker is no different than flushing it down the toilet. Chances of getting an offshore broker in Dominica to send you back your money are slim to none. The Crypt EX randomly assigned us a multi asset CFD broker, therefore we cannot use it at our current broker.
This trading app uses a basic trading strategy that is based on some unknown technical indicators. We do however like how they setup the “risk management” settings, which gives you the ability to set a daily stop-loss and take profit amount.
Look at the screenshot below, to see the various options available to configure, see here.
Is The Crypt EX a Scam?
There are a few reasons that Crypt EX could be a scam. When reading their website, you can easily see that they are making unrealistic claims of potential profits.
Here is what they wrote about potential profits:
Crypt EX investors are guaranteed to earn $1,000 per day with little work. The Crypt EX app is automated, which means our users only need to work for less than 20 minutes a day, setting up the trading parameters of the software.
Sorry, but you cannot expect your $250 to become $1000 a day.
In order to get you excited, the headline across the Crypt EX website says: (The website is still open, and accepting new day traders.)
Due to extremely high media demand, we will close registration as of 15/07/2020
Compare Popular Trading Apps.
How to Configure The Crypt EX
Risk Management: 6 risk management settings are available, so that you can input a standard trade amount, and minimize losses from wrong signals. It is wise to adjust the Max Daily Trades number very low.
An automated trading app has the ability to create over 100 trades an hour. The Max Concurrent Trades setting is for you to limit, how many open trades are happening at the same time.
Asset Selection: The signals generated by the trading app are on Forex or Crypto CFDs. Additionally, you will see trading signals for a variety of underlying assets. An investor can choose which underlying assets the robot will open trades for.
One reason why prudent asset selection is important, is because a trading app can occasionally work well during normal trading conditions, but will have bad results during volatile markets.
Demo Trading: You will be able to take a tour of the trading software once you are inside the trading room.
Just remember, demo trading is not real, and will only show profits. Their purpose of a demo is to show you the features of the software, but not the true trading signals or results.
Choice of Brokers
The Crypt EX connects with a variety of brokers both unregulated and regulated. It is extremely important that you only invest money, with a broker that you have verified is licensed in your country.
A huge problem with trading bitcoins are the many scam brokers that steal your money, and are not regulated by a government authority. Many trading robots we have reviewed looked good, but they do not work with licensed brokers which means they are a scam.
Visit the official website at: The-Crypto-EX.com.