A comprehensive review of The News Spy – Is It Legit?
A comprehensive review of The News Spy – Is It Legit?
If you have been thinking about investing in cryptocurrency and gaining a foothold in the digital currency market, you may be considering the services of an auto trading platform like The News Spy. These platforms promise fantastic investment opportunities, lucrative passive profits, and the ability to thrive in a popular market. However, there is a dark side to these types of platforms, and it usually results in financial loss — which is the exact opposite of what you had intended.
Within this review, we’ll be covering The News Spy platform in-depth covering every essential feature and giving you all the information you need to make an informed decision about the legitimacy of the service.
So, is The News Spy a trustworthy auto trader? Or are you going to lose your investment as soon as you pay into your account?
If you would like to know more, read on for more info.
What is The News Spy?
The News Spy is an auto trading system through which you deposit funds and make investments in the Bitcoin market to earn a profit.
The platform uses AI trading bots to make trades on your behalf. These bots analyze the market and purchase cryptocurrency when it is at a low price. The bots will then hold your funds until the prices go back up, selling them for a profit. So, according to that short description, you barely have to do anything!
However, you need to remember that the cryptocurrency market is highly volatile, so you need to cautiously approach services like The News Spy. These sites encourage users to take a chance on the market, relying on their efficiency and potential ability to earn users passive income.
You may feel like you don’t need to be a cryptocurrency expert to begin making money with Bitcoin and other currencies utilizing services like The News Spy. However, you need to keep in mind that this form of trading comes with many risks. Therefore, we recommend that you remain careful and make sure you understand the service thoroughly before handing over any money.
Available in countries that allow Bitcoin contract for difference (CFD) trading
Straightforward user interface
Not many languages are available
Auto trading bots are always risky
Some testimonials are fake
The News Spy markets, assets, and options
What assets and products can you trade using The News Spy?
The News Spy lets you buy and sell various cryptocurrencies, including Bitcoin, Ethereum, and BCH.
What leverage trading options are there?
When it comes to leverage trading options, you can guarantee an auto-trader like The News Spy will offer some high margins. After some research, we can confirm that The News Spy offers users 1000:1 leverage on their funds, and sometimes even higher. At first glance, this looks like an excellent way to increase your profit and make some serious investments. However, we have found that only unregulated exchanges will offer this type of leverage, which calls into question their authenticity. Additionally, when you take these high leverage options you can easily make a massive loss and end up in financial trouble. Therefore, we suggest staying away from any leverage that is over 100:1.
But what does leverage mean?
When a broker offers leverage on your investment, they give you a loan to buy more cryptocurrency. For example, if you take a 1000:1 leverage on your minimum $250 investment, you’ll be able to invest $250K. However, this means you’ll be borrowing a massive amount of money with no guarantee that you will make a profit. Remember: auto trading is a risky practice, and there is a likelihood that you will fail with your investment. You should only invest what you can afford to lose.
What are the spreads?
As we have already mentioned, the cryptocurrency market is wholly unpredictable and the buying and selling price of cryptocurrency will inevitably fluctuate. You can expect varying pip values for different exchanges on this platform.
What are the payment methods accepted by The News Spy?
There are several payment methods available on The News Spy. These include:
Does The News Spy also charge fees and commissions?
You’ll be happy to hear that The News Spy does not offer any service charges when you deposit funds into your account. However, they do charge a commission whenever you make a profit on your trades.
The News Spy trade sizes and limits
The News Spy has a minimum trade size of $250, which is also the minimum deposit required to complete your registration. In addition, we couldn’t find any information regarding the maximum limit. As such, we assume the platform lets you invest as much as you want. That being said, we suggest you remain cautious if you want to use an auto trading site. This is an unreliable method for trading cryptocurrency. You should limit your trade size as much as possible or take your funds somewhere where the brokers’ regulatory status can be confirmed.
The News Spy is an automated trading platform that uses artificial intelligence to invest your deposited funds into the cryptocurrency market.
The News Spy looks for low-priced cryptocurrencies and purchases them. The brokers will then hold your cryptocurrency until they can sell them for a profit later, waiting for the right time to sell your crypto. While this may sound like an easy way to make a passive income, auto trading usually results in somebody losing a lot of money. Sure, The News Spy makes trading sound simple. However, there are many risks involved in this process. If you want to continue with this service, you need to prepare to make a loss.
That being said, The News Spy does implore users to trade with caution and broaden their knowledge on cryptocurrency before investing their money.
What devices can I use The News Spy on?
You can use The News Spy on any device that can connect to the internet and has an accessible browser. This includes:
Which exchanges and brokers does The News Spy partner with?
Unfortunately, we had difficulty finding any concrete information regarding the exchanges and brokers who partner with The News Spy. However, if you look at the leverage rates on offer, you can assume some of these brokers are unregulated, which reduces your chances of earning a profit.
Can I use The News Spy in my country?
You can use The News Spy in any location where CFD trading is legal. These countries include:
Unfortunately, this means The News Spy is restricted for investors in the United States.
Is The News Spy available in my language?
Unfortunately, The News Spy is only available in three languages selected for a dropdown menu at the top of the page. These include:
How easy is it to use The News Spy?
While auto trading is a dubious way to invest in the cryptocurrency market, The News Spy does offer a very intuitive user interface that is easy to navigate. In addition, the platform also gives you a demo account so you can play around with all the tools and features without risking any real money.
Some of the most prominent features on The News Spy include:
Customer Support:We noted that The News Spy’s efforts aim to acquire new investors and keep them on their service during our research. As such, their customer support is attentive, particularly when you first sign up to the platform. When you create your account, you will be contacted by a team member to verify your account. If you miss this call, they will continually ring you to finish the verification process. The News Spy also has a contact form that can be accessed on their website.
Low Deposit: Like many other auto traders, The News Spy Review offers a low minimum deposit of $250.
Demo Account: The News Spy Review gives you a demo account that lets you figure out how to live trade on their service. This helps users understand the platform before risking their money.
While there are many reviews online about The News Spy, we had our doubts over its authenticity. Many reviews seemed too positive, a typical ploy to attract new users to the site. Also, the massive leverage rates raise some questions about the reputability of The News Spy’s partnered brokers.
Is The News Spy safe?
The News Spy is safe in that your personal information is encrypted and won’t be sold to third parties. However, the numerous fake reviews, extreme leverage rates, and low deposit are worth noting and exercising caution over.
Are me and my money protected?
It is important to note that auto trading platforms like The News Spy are not responsible for protecting your funds. Rather, your funds will be held by their partnered brokers. As such, you need to make sure you only invest with reputable and regulated exchanges and brokers who have passed the relevant tests by a recognized body.
Is The News Spy regulated?
We could not find much information regarding The News Spy’s regulated status. However, the high leverage rates indicate that some of their brokers may be unregulated. If you are in any doubt, look for exchanges regulated by CySec, FCA, ASIC, and FSB.
Do I have to verify my account with The News Spy?
Yes, when you create an account with The News Spy, you need to give evidence in KYC documents to prove your address and identity.
The News Spy has a free demo to help you understand their system, as well as plenty of crypto and investment information on their homepages and an FAQ section.
Tools and charting
On their homepage, The News Spy states that they prefer to hide all their charts. However, all this information is available if you look for it, but it is not provided upfront.
The News Spy customer support team can be reached around the clock and contacted via email.
How to get started with The News Spy
Registration: It only takes a few minutes to register your account with The News Spy. All you need to do is select “join us now” and fill in the registration form. You will then be contacted by a broker who will guide you through the rest of the verification process.
Make a Deposit: Once you have completed your registration, you will have to pay $250 to get your account up and running. This will be used to make your first cryptocurrency investment.
Begin to Live Trade: When you complete the above steps, you are free to begin trading on The News Spy.
In conclusion, while The News Spy may seem like a good opportunity, we urge caution on whether this site can actually help you make money. With high leverage rates and a low minimum deposit, you may be tempted to give auto trading sites like The News Spy a try, but they are far too unpredictable to be trusted. If you do intend to invest in the cryptocurrency market, we suggest an alternative solution that gives you more control over your funds.