The Crypto Trader Elite is an online investment tool focused on the cryptocurrency markets. The software allegedly generates trading signals for its users. There are claims that it produces over 500 winning signals every month which traders can use to make successful trades.
But, the problem is that this software doesn’t have backing from any corporate entity.
The website was registered sometime in June 2018 and the program went live in July 2018. So basically, Crypto Trader Elite has been around for a very little while now and it is already making such huge claims.
If you are considering signing up with them, it is crucial that you read this review. Our unbiased review consists of all the details related to the software, especially where it stands in terms of legitimacy.
What is Crypto Trader Elite?
Signals and alerts can assist traders with their trading tasks. It can help traders know when to open a position and when to exit a trade. Basically, it can help traders determine how they can maximize their gains and minimize their losses. But, it is crucial that the signals come from a reliable source.
During our investigation, we did not discover any aspects of this signals system which suggests that it is reliable or even safe to use. It is new in the industry and it claims of generating more than 500 signals per month. The claims are quite ridiculous since they sound too good to be true.
We don’t believe that Crypto Trader Elite has such potential. There is no evidence available which can confirm that it is legit or works in a manner it claims to work.
How Does Crypto Trader Elite Work?
Information posted on their website indicates that in order to qualify for the signals that are generated by the software, traders have to register with a broker they choose. They have listed the names of three brokers on their website, but reports have revealed that those are not the actual brokers who are linked to this system. The broker they actually assign is neither regulated, nor trustworthy.
Traders who are new to the industry may fall for their trap because on the surface they look very professional and seem to be knowing what they are doing and offering. However, the reality is that these people are just after the investment funds that will be added by traders to their accounts after registering with the broker.
The minimum deposit requirement placed by the broker is $250. This is too much considering the fact that this tool is entirely bogus and it doesn’t produce quality signals for its users. Basically, traders will be wasting their funds on this crappy solution that has nothing good to offer. If traders choose to enter and exit trades based on the alerts they receive, they will most probably be losing their investment in bad trades.
Companies must be licensed in order to provide investment advice. If the company is not regulated or licensed, it means that they are operating illegally. While their motive could be to fill their pockets with your hard earned investment funds, you will have no scope to report on them if you lose your funds to them.
Crypto Trader Elite: Scam or Legit?
We have already mentioned that Crypto Trader Elite has shady broker connections. This is perhaps the first sign of it being a scam software.
Another sign is that its developers are anonymous. We don’t have any information on who created this software or who owns it. If the tool was truly reliable and produced quality signals, then we are sure the owners would have proudly taken the credit. Hiding their identity and operating from behind the curtains only indicates that they are liars and thieves.
Thirdly, they have posted some sort of ‘live’ results on their website. The graph begins in June 2016 and ends in February 2018. This is not possible because this software came about only in July 2018. Their own result is a big proof that they are a fraud company.
They do offer support service, but only up to the point where they can convince people to sign up and add funds with them. Once the funds are in their hands, they will not even bother about responding.
Although they don’t have a promo video featuring luxurious lifestyles, modern cars and airplanes that are typical of an online trading scam, there are enough factors based on which we can confirm that they are no different from those scams.
They have chosen to take a slightly different approach to trick innocent traders, but no one can change the fact that they are just after traders’ investment funds.
There is nothing we could see on Crypto Trader Elite website that is real and genuine. They are just criminals who are telling lies after lies to rip off innocent people.
We urge traders to proceed with caution because this signals provider is a scam. With so many better alternatives currently available on the market, we don’t see any reason why someone should choose Crypto Trader Elite.