A Comprehensive Review of CentoBot – Is It Legit?

Introduction

CentoBot is a collection of robust software and trading robots designed to help cryptocurrency and Foreign Exchanges (FOREX) traders make more money. This singular feature can give CentoBot an edge over the other trading robots because its users can now enjoy increased chances of making money from both the crypto and FOREX markets with ease.

In this CentoBot review, we assessed most of the important features of the robot, including the availability in some countries and the wide selection of trading instruments. Read this guide to the end to find the information you need to make an informed decision.

What is CentoBot?

CentoBot is a multi-tiered cryptocurrency and FOREX trading robot designed to help traders find the best entry and exit in both markets. With robots, traders can also access the liquidity in the market and know when to participate and when to steer clear of the market.

CentoBot has only been four years in the market, but its impact is greatly felt across the cryptocurrency and Foreign Exchange (FOREX) markets. Launched in 2017 and owned by Cent Group Limited, the robots can help you automate trades, even in volatile markets.

CentoBot works by offering the users a wide selection of advanced binary trading robots. These bots can conveniently execute cryptocurrency and FOREX trades on your behalf. Also, CentoBot has proven its dedication by partnering with some of the best brokers in the market to facilitate automated trades.

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Pros & cons or using CentoBot

Pros

  • The registration process is easy
  • It offers a wide range of deposit methods
  • It can have a high profit rate
  • Users have access to dedicated account managers
  • Robot customization

Cons

  • No privacy policy or terms and conditions
  • Doesn’t support a mobile app

Register with CentoBot

CentoBot markets, assets, and options

What assets and products can you trade using CentoBot?

As a trader, you are continually looking for a robot that can automate your trades. Also, you want the robot to automate your favorite assets. The CentoBot trading robots can do both of these things.

The wide selection of trading robots under CentoBot have been programmed to automate the trades of different kinds of assets. Both cryptocurrencies and Foreign Exchange (FOREX) assets can be traded. Keep in mind that cryptocurrencies are usually automated more than FOREX assets.

With that being said, some of the popular assets that can be traded on automation via CentoBot are Bitcoin, Ethereum, Litecoin, and Bitcoin Cash.

What leverage trading options are there?

CentoBot offers leverage trading at the ratio of 1:100. This can help maximize your chances of earning more profits from the automated trades.

CentoBot doesn’t encourage leverage trading, especially for new traders. The process is high risk and, with the volatility in the crypto market, you might end up losing your money. Of note also, past performance of CentoBot in that area doesn’t form a basis for the future outcome. Doing due diligence and investing only the amount you can afford to lose is the ideal ways to maximize the CentoBot leverage trading option.

What are the Spreads?

No mention was made of spreads on the CentoBot website.

Fees, limits, and payment options on CentoBot

How much does CentoBot cost?

Unlike some other trading robots, CentoBot is free to use. There are no hidden charges or potential payments to make in the future.

The only thing you have to do is to sign up for an account and make a minimal deposit of $250 so you can be qualified to use the software. Note that this amount is yours and will be used for your automated trades within the CentoBot platform.

Aside from the free usage, the CentoBot software also has several account types. These are the different accounts supported by the brokers that partnered with CentoBot:

  • Bronze Account: This is the first and cheapest account offered by CentoBot’s partners/brokers. With as little as $250, you will have access to the account. Included in this account are quick withdrawals of earnings and live video chat.
  • Silver Account: This type of automated trading account requires a minimum deposit of $1,000. The perks that come with it include 3 risk-free trades and access to dedicated account managers.
  • Gold Account: Last but least is the Gold Account, which can be opened with a minimum deposit of $3,000. Included in the account are advanced trading robots and up to 100% bonus on deposits.

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What are the payment methods accepted by CentoBot?

You have several options to choose from when adding money to your CentoBot account or the account you have with the affiliated brokers. Over 15 payment methods are enabled, including but not limited to cryptocurrencies and credit cards.

CentoBot doesn’t charge any trading fee, which means that it is completely free to fund your account on the website. However, you will pay up to 5% if you are using credit cards, including MasterCard and VISA. The 5% transfer fee is charged by the affiliated brokers to CentoBot and is required both when you are depositing and withdrawing money.

Accepted payment methods include: Bitcoin, Ethereum, Monero, ZCash, Bitcoin Cash, MasterCard, VISA, DASH, IOTA, Ripple (XRP), Euro, Litecoin, and USD.

Does CentoBot charge fees and commissions?

CentoBot is a free to use software that features some of the best trading robots. You don’t have to pay to sign up, deposit money, or withdraw your earnings. All the funds in the account are yours and can be used as you want.

CentoBot trade sizes and limits

CentoBot is very particular about the amount it can accept from the users. A minimum deposit of $250 is required before you can start utilizing the features of the software. The deposit limit can be increased, provided you sign up with any of the affiliate brokers. Depending on the broker you use, your trade sizes and limits can be increased up to $3,000.

Out of the $250 minimum deposit, you can make a minimum investment of $0.01. With just 1 cent, you can start automating your crypto and FOREX trading pairs via CentoBot.

CentoBot platform

How does CentoBot work?

CentoBot works by first automating the entire trading process via different trading strategies. The software combines a plethora of trading tactics, including Trend, CCI, Williams, Stoch, TSI, and MACD indicators. The combination of these indicators assists the software to find the best positions for trading activities.

CentoBot specializes in trading of both FOREX and cryptocurrency pairs. Thanks to the use of fiber optics technology, the entire process can be set up at once and left to run.

CentoBot combines several trading indicators to find the best entries and exits. The software passes the information or trading setup to the affiliated brokers via an API. With your funds already committed, you can sit back and wait for the trades to run so that you can gather profits and repeat.

What devices can I use CentoBot on?

Currently, CentoBot doesn’t have any mobile trading application. Therefore, you have to use a desktop computer or laptop to optimize the trades for automation. The platform can be accessed via the website. Web browsers, including Google Chrome and Safari, can access the site with ease.

You can still utilize mobile trading via any of the affiliated brokers. These brokers have dedicated mobile applications that allow you to keep an eye on your trades from anywhere.

The mobile application option offered by CentoBot’s affiliated brokers are available on iPhone, Android, and / or tablets.

What exchanges and brokers does CentoBot partner with?

CentoBot partners with many different exchanges and brokers, including Videforex, BinaryCent, iqcent, and RaceOption.

Can I use CentoBot in my country?

CentoBot does not specify what countries it can be used in. However, traders who have used the software claim that the software is readily available for use in most countries. They also mentioned that the website might not be accessed from countries that have strict regulations on cryptocurrency trading.

You can always find out the list of available countries anytime by contacting CentoBot support either via email or live chat.

Is CentoBot available in my language?

CentoBot offers a wide selection of languages. Some of the supported languages are English, Thai, Russian and German.

How easy is it to use CentoBot?

Trading robots are relatively new, and traders expect the robots to be intuitive. This is the case with CentoBot. The software’s ease-of-use is bolstered by many factors, including the easy signup and account funding process plus excellent navigation.

Key features

The primary features of CentoBot include customizable robots and a dedicated customer support team.

Dedicated account managers

The CentoBot team claims to look out for your best interests. The dedicated team of account managers ensures that your queries are attended to in real-time.

Customizable trading robots

You can customize or optimize how the CentoBot trading robots will work so that you will have increased chances of maximizing profits from the automated trades.

Get started today with CentoBot

Security and regulation

Is CentoBot legal?

CentoBot has been in use for 4 years – CentoBot is legal.

Is CentoBot safe?

CentoBot opted for the web-based trading platform because it wants to protect its users from downloading malicious viruses that could compromise their information. The platform also uses the SSL security layer to protect the data and other sensitive information of its users.

Is my money protected? Am I?

CentoBot only acts as a platform for automated trades. The protection of your details and funds is up to the brokers partnering with CentoBot. Find out if these brokers have any measures in place to protect you and your money before trading.

Is CentoBot regulated?

No, CentoBot doesn’t hold any regulatory licenses. The platform is also collaborating with many unregulated brokers and exchanges. Find out if the platform has become regulated recently before using it.

Do I have to verify my account with CentoBot?

There is no information regarding the customer verification process on CentoBot. However, you might be required to pass the Know Your Customer (KYC) scheme on the affiliate brokers and exchanges.

Extra information

Educational resources

There are no educational resources currently on CentoBot, but you can find these on the affiliate brokers sites.

You can fund your account on CentoBot so you can use the free demo to master how to automate the trades.

Tools and charting

You don’t need any trading experience before using the CentoBot platform. The software automatically connects to and relays the trading signals to the partnered brokers and exchanges.

Also, you can work within trading indicators, including the Moving Average Convergence Divergence (MACD), and the Relative Strength Index (RSI).

Customer support

CentoBot has excellent customer support. Users can reach out to the customer department and have their queries resolved.

The communication options include email via [email protected] or the live chat feature on the website.

How to get started with CentoBot?

  • Signup for a CentoBot Account: Create your first CentoBot account by clicking on the “Registration” button on the homepage
  • Enter Your Information: You will be required to enter important information, such as your full name, your telephone number, your currency of choice (USD is ideal), and your email address. You will also be required to create a new password, pick or select a broker from the list, and accept the terms before continuing.
  • Deposit Money: Make a minimum deposit of $250 into your new CentoBot account so you can start using the platform.
  • Try Demo Trades: Get a hang of how CentoBot works by using the demo version to see how the software automates trades. You can also customize your trading robot(s) at this stage.
  • Start Trading: Now that you have a bit of experience, consider setting up the parameters and allowing CentoBot to do the remaining job of automating the trades.

Conclusion

The massive portfolio of cryptocurrency and FOREX trading options on the platform is impressive. Both experienced and amateur traders can leverage the platform to maximize profits in both the crypto and FOREX markets.

CentoBot is unregulated and it partners with brokers and exchanges that are yet to be regulated as well. Due diligence and keeping up with the latest news about the platform will help you know if it is the ideal place to automate your next trades in the crypto or fiat markets.