The cryptocurrency broker MarketRobo claims to be situated in the United Kingdom and regulated by Cyprus based CySEC. The cryptocurrency broker has several investment plans and excessive maximum leverages. All of this is lucrative however the broker is unregulated. So, we request you to thoroughly analyse this MarketRobo review before investing in this broker.
We always try to discuss all the possible merits and demerits of every broker to make our review unbiased and unique. Nevertheless, there is no merit of MarketRobo that we have come across. Therefore, we are keeping this section empty.
There are many demerits of MarketRobo and we will talk about them one by one. The parent company of MarketRobo is MarketRobo LTD that claims to be situated in the United Kingdom. It also claims to be regulated by CySEC. However, after cross-checking with CySEC we can claim that the broker does not hold regulation by any regulator. In short, it misleads its clients. Furthermore, the Spanish financial regulator red-flagged this broker for providing illegal brokerage services in the area of its administration.
It also claims to offer arbitrage cryptocurrencies trading. It means a trader can buy cryptos from one market and instantly sell them to another market at a higher price. However, this claim is fake. The buying bid is higher than the selling bid, therefore, no trader can be benefited. Only broker MarketRobo is beneficial in this trade. It also fakes a higher return of 2% on investment daily. However, we haven’t come across any broker that gives such a higher ROI on Cryptocurrencies.
Furthermore, 25 % of traders profit is kept by MarketRobo and this amount is unbelievable. The broker claims to offer leverages of up to 1:60. Considering the volatile nature of cryptocurrencies this leverages in excessive. We strongly believe that these leverage ratios are designed to attract investments only. No trader can be beneficial from such leverages. Total of eight investment plans is offered by this broker however ROI on every plan is high. Also, the initial investment required is up to 10 BTC that means more than 100000 USD.
Is MarketRobo scam or legit?
The broker’s all the claims are fake including regulation one. The initial investment is high and the broker received scam warning against it. Therefore, we call it a potential scam cryptocurrency broker.