Invest money, start the bot and enjoy high profits? You might think that automated trading with the trading bots is so easy that it is almost strange why there are not many more millionaires on our planet. Does the trading bot, as the various providers like to advertise, always lead to success? No. Changes in the market can always lead to losses. There is no software that is always right.
But it’s not just about the risk that the market brings with it. First of all, automatic trading is also about finding a provider who is not only interested in the money of the newly registered customer but also wants them to celebrate financial success. Unfortunately, the number of fraudulent platforms has increased, so you should be careful when looking for a corresponding trading bot.
One of the most famous platforms is called News Spy. However, one should not believe that the popularity is proof enough in the end that it is a reputable provider. If you want to use the services of News Spy, it is highly recommended to get an overview. Because in the end, you can find out relatively quickly whether it is a recommendable provider or not if you read reports from other traders who have already worked with News Spy.
What is News Spy?
News Spy offers trading with a trading bot. In this case, an algorithm takes over the command. This determines when the desired assets should be bought and sold in order to bring the trader the highest possible profit.
News Spy promises amounts in the four-digit range on its website. Competitors such as Bitcoin Code, Cryptosoft, Bitcoin Future, or Bitcoin Era promise similarly high profits. And: Some of the platforms even advertise illegally with the likenesses of celebrities like Dieter Bohlen and Co.
This is how News Spy works
The algorithm currently works with various exchanges – for example with Binance, Bittrex, or Poloniex. The trading bot starts generating profits when the price of the purchased coins rises faster than the price of the base pair.
It should be noted that there are no exact details about the software. Even the competitors do not disclose the exact functionality of their algorithms.
In the end, only success counts – and that can very well be booked through News Spy.
So if you are interested in automated trading, News Spy may – at least at first glance – be an interesting option.
News Spy Demokonto
For many traders, a demo account may be the first indication that the provider is reputable. Because why should you give the trader the opportunity to safely familiarize himself with the functions of the platform if you are only after the money of the newly registered customer.
- News Spy provides a demo account. This is not only a weighty indication that this is a reputable platform, but also proof that beginners are also welcome here.
Is News Spy legitimate or a scam?
- If you go to the provider’s website, you will quickly notice that the German texts contain a few errors.
- The success stories that can be found on the homepage also seem fictional. So you shouldn’t pay much attention to the success stories on the homepage.
- However, if you are looking for testimonials, you will also find positive opinions in News Spy forum
Why can News Spy still be classified as serious?
The industry consists exclusively of providers who use various strategies to try to take away people’s fear of the crypto market. News Spy goes hand in hand with numerous other providers so that in the end it would be strange again if they had taken a different path here. A news spy fake can therefore be ruled out.
The advantages and disadvantages of the platform
- The concept is very well thought out:
- The trading bot scours the news world, orientates itself on the investment decisions of the other users, and also takes into account the chart developments of the last weeks or months. Sometimes the analysis even retrieves data that is a few years old.
- The software available here is extremely user-friendly.
- Another point that should be highlighted is the demo account. News Spy therefore also appeals to beginners.
Of course, there are also a few aspects to criticize:
The bottom line
If you are looking for a trading bot because you have dealt with cryptocurrency trading and have come to believe that it can work better with support, News Spy may be a very interesting platform.
Of course, there are a few critical voices. However, that doesn’t mean that News Spy is dubious. Trading bots are repeatedly criticized – especially when beginners who have never had anything to do with cryptocurrencies or the market believe that they will be rich within a few hours.
If you are looking for a reputable provider, News Spy may well be an interesting option. With News Spy, you can make really big profits. However, only if a correspondingly high stake is made and if you have previous knowledge of the market.