DaxRobot Review 2021
Is Dax Robot a legit platform ?
DaxRobot is yet another trading platform to consider when entering the trading market. A significant difference between this platform and others we have discussed is that trading through this platform is an automated trading platform, or a platform run by robots. DaxRobot has a wide variety of robots that initiate and conduct trades for you. This can seem scary, but there are some benefits to this type of platform. The advantage of going with a robot-run platform is that robots are unbiased and follow the data to make decisions. A robot-run platform can take the emotion and guesswork out of the trading for those of you who may feel some anxiety or fear surrounding trading. Robot-run platforms are also great for people who aren’t comfortable with trading strategies because the robot takes on research work for you.
As you can see from our outline above, there are a variety of bots available for those of you who wish to keep to the deposit minimum of $250. The profit rate will depend on the type of investment and strategy used by the robot. While this is an automated platform, you will still need to do a little bit of research to ensure you’re choosing a bot that aligns with your goals. Choosing a bot randomly likely won’t result in much profit. As you’ll see below, we do not recommend this platform, but doing a bit of research on any platform you choose is wise. You wouldn’t buy a house without first looking at it. The same concept applies to the trading market.
DaxRobot uses ten bots to assist users with CFD and Forex trading. Each of the ten bots have different features and some require more initial deposit amounts. It can be overwhelming to have multiple options, but we will briefly describe each below-
- Ceytohunter: To use this bot, users need to deposit $2500 into their account. DaxRobot claims that this robot offers a profit rate of 1000%. DaxRobot does not provide any further information on how this bot can be used on their platform.
- Crypto ADX 2.0: This bot requires a $500 deposit, and DaxRobot claims that the profit rate is 359%. The Crypto ADX 2.0 bot strategizes trading decisions by looking at RSI and STOCH levels.
- RSMIA Cross: Similarly to the bot mentioned just above, this bot requires a $500 deposit but has a profit rate of 300%. This bot uses a moving averages strategy.
- xProfit: The xProfit bot’s deposit amount is more in line with the deposit advertised by DaxRobot at $250; it claims the profit rate is 258%. This bot will close deals when the CCI and SRSI have opposite direction signals.
- Ichimoki Crypto v2: This bot also has a $250 deposit requirement but has a 225% profit rate. The strategy used by this bot is observable trends on currency pairs.
- Rising East v1.2: This bot is another option for those who wish only
There are several features embedded in this platform that can make it an attractive option. The platform boasts that it’s user friendly, allows for robot customization, and has a 97% profit percentage. Also, DaxRobot lets users trial with a demo account, which can be helpful if you’re on the fence; it’s a good rule of thumb to trial any platform before investing actual money. While we couldn’t find any meaningful information on DaxRobot’s trial account, we can presume that there are limitations. Most trial accounts have limitations on how long you can use them and how much pretend money you are given. When you move over to the real account, if you choose to go with DaxRobot, you’ll need to deposit at least $250 initially. This is a higher amount than we saw with IQ Option, but the minimum investment amount for trades is just $1, which means the $250 should go a long way. All of these features make the platform seem like an appealing choice for novice traders, but is DaxRobot too good to be true?
Deposit & Withdrawal
After reading through several reviews and webpages, it appears the people are not too fond of DaxRobot. In fact, this website claims that DaxRobot is a scam and should be avoided. In order to start trading, one needs to deposit at least $250 onto the platform, and there are numerous reports of people losing all of the money within a couple of hours of depositing. The website we referenced above states that the algorithm within DaxRobot is rigged to make investors lose their profits. DaxRobot promises a profit, but trading platforms can’t and shouldn’t make such high claims because trading is risky, and nothing is guaranteed. Further, as we reported above, DaxRobot isn’t certified by any Broker Regulations, and that is something that everyone should look for in a trading platform. The bottom line is, we don’t recommend this platform. There are quite a few reports that this platform is a scam and if you look at reviews from previous customers, they’re almost all bad.
OPEN AN ACCOUNTDaxRobot’s homepage doesn’t appear to do the platform any justice either as it doesn’t give much information to help a trader feel good about investing time into the platform.
Our IQ Option article stated that it is crucial to familiarize yourself with the platform and develop some strategies before depositing money. DaxRobot differs in that you really don’t need to learn much in order to use this platform. The instructions for using this platform -based on DaxRobot’s homepage –are easy:
1 Sign up.
2 Deposit money into the account.
3 Establish conditions or rules for your robot to follow (i.e., invest a certain amount per trading opportunity).
4 Let the robots do the work for you.
5 Withdraw your earnings.
Trading & Platform
Pros and Cons of an Automated Trading System
Although our DaxRobot review is poor and we don’t advise using this system, several other reliable robot-run trading systems are available. You may be wondering why robot-run platforms aren’t more popular given the ease of it all; well, there are certainly cons associated with automated trading platforms. Despite the automated process of it, you do still need to monitor the platform to ensure it’s performing to your expectations. If you just let the robot do its thing, then you can risk losing more money than anticipated, even with the conditions in place.
An automated approach seems like a fool-proof way of making money on investments, but robots can and do fail; they are not perfect, and you shouldn’t expect them to be. Robots can misread data, and make poor trading decisions that you otherwise wouldn’t have made. Similarly the data can appear a certain way, but deeper inspection from someone who is manually trading may warrant a different strategy than the robot would run. Also, technology fails all the time; if your internet fails, then this could disrupt the trade, which can cause loss.
Despite these drawbacks, automated trading systems certainly have their perks as well. Humans have emotions, obviously, and emotions can impair judgment. Robots don’t have emotions and make decisions based on data alone. Sometimes traders can struggle with discipline and can invest too much money into a single trade. Setting up conditions on the forefront, and having a robot take control can eliminate this and keep the trader disciplined. Robots also allow traders to make multiple investments and trades in a single time frame. It can be extremely challenging to keep track of many ongoing transactions at once if you are doing it manually, but having a robot take control makes the process easier (as long as you continue to monitor).
It all boils down to your comfort level. Do you want to have absolute control over your trades and investments, or would you prefer to have a robot take control? Novice traders may feel more comfortable letting a robot take control because they may feel they aren’t experienced enough to trade manually, but everything can be learned, and experience is power. We hope that our reviews of the platforms are making the decision easier.