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Sometimes, it's hard to believe that just ten years ago; cryptocurrencies were non-existent. Today, it's a billion-dollar market that is offering lucrative opportunities for millions of individuals. From project owners to investors, the list is long. Another way people are making a fortune in this industry is through trading.
Below, we will go over various features offered by this bot to determine if it's legit and, most importantly, if it's worth your time.
What Is The News Spy?
The News Spy is a trading software that utilises smart analytics to observe market trends, artificial intelligence to collect and analyse market data, and machine learning to predict the likely outcomes depending on past experiences. The bot claims to have an automated trading system in place that allows it to execute trades on behalf of its user based on the parameters and risk management system they have set in place.
Who’s Behind The News Spy?
During our research, we couldn't trace precisely who is behind this automated cryptocurrency trading robot. It's not unusual for cryptocurrency project owners to remain anonymous. But based on the level of complexity of the bot we believe that behind there could possibly be a team of people who have vast experience when it comes to cryptocurrency trading and developing systems that cater to such markets.
How to Use The News Spy
1. Getting Started
Visit the official website and click on "Join Now." This will take you to a page where you have to enter personal details, including your first and last name, email address, and phone number. Then click on "Register." The site will link you to an affiliated broker where you will get access to several trading markets.
2. Make a Deposit
Once signed in, it is time to deposit funds. Select how you would like to make the deposit, depending on the mode of payment you are most comfortable with. Enter the minimum deposit of $250 and click on "Deposit." The funds will immediately reflect in your account but don't be alarmed if it takes a little longer. The next step is trading, but before that, you will have to verify your account by uploading a few documents.
3. Start Trading
After the account is verified, it is time to trade. You will be taken to the trading dashboard, where you will see all instruments on offer. But before you start live trading, use the free demo account that allocates $100,000 in virtual money to practice trading and set your strategy up. Practice until you feel confident enough and then proceed to live trading by setting up your parameters and authorising the auto trader to execute the trades for you.
Key Features of The News Spy
Automated cryptocurrency traders have flooded the market these days, and it can be difficult to tell which platform is best for your trading needs. But thankfully, we do the hard work for you, so you have an easier time deciding which robot suits you best. Below we will go over five features that make The News Spy stand out.
We tried the bot for around 12 hours, and within the period, we set our parameters around taking advantage of short positions with small but steady payoffs. By the end of the period, the bot had placed over 30 trades and won quite a few of them. The payouts were made immediately after the position was closed, and we were able to withdraw immediately.
As we mentioned above, once you have deposited funds into your account, you will have to verify the account by sending a picture of your national ID or passport before you are allowed to trade. Also, a document that proves your residence will be required. The documents will be reviewed, and within an hour, the account will be approved if every detail checks out. The key to getting the account verified is ensuring that you offer the correct information during the account registration process. The name must match with what is on the ID.
The Withdrawal Process for The News Spy
The News Spy doesn't have a limit on the number of withdrawals you can make. All requests are processed within 24 hours, and the funds will reflect in your account immediately.
Costs and Fees
There are no costs or fees involved when depositing or withdrawing funds. We had an excellent time during the period we tested the platform withdrawing after every successful trade. The good thing was that there were no fees involved, so it didn't matter if we waited to withdraw the full amount at once or withdrew small amounts whenever we won a trade. But depending on the deposit mode, you could incur some costs from the other side.
Immediately after you sign up on The News Spy, you will receive a call from the customer support team who will welcome you and guide you on making deposits and also whenever you are stuck. Our experience was great as the person attending to us proved very helpful right from advising us on how we can try different strategies on the demo account before we start trading to walking us around the trading dashboard to ensure that we understood how everything works. Additionally, there is a chatbox on the bottom right corner where you can seek assistance if you experience any trouble on the platform. You can also reach the support by writing to them via email, and you will receive a response within 24 hours.
The News Spy works with several brokers around the globe. These brokers help traders access various trading markets, including cryptocurrencies, fiat currencies, commodities, indices, and stocks. When you sign up, you will be linked to a broker who operates within your region. It's important to note that relative authorities regulate all these brokers within their jurisdictions.
Is The News Spy a Scam?
When we signed up, this is the ultimate question we sought to answer given the prevalence of scammy robots stealing money from people. We can't actually answer the question but we can tell you about our experience with the bot.
The signup process went smoothly without a hitch. We were linked to what it looked to be a regulated broker after the sign-in process was completed, and we were asked to verify our accounts by offering documents that revealed our true identities since the platform has to comply with AML and KYC rules. We also found customer support quite responsive and professional. The payouts were processed immediately once our positions were closed, and our withdrawals were processed within 24 hours. We also reviewed thousands of user testimonials on various reputable sites and mostly found positive feedback, even though we cam across comments of disappointed users as well.
5 Reasons to Use The News Spy for Trading
1. Intuitive User Interface
After verifying your account, you will be taken to the trading dashboard, which you will find quite appealing thanks to awesome graphics. The way various features are arranged on the interface is orderly, making it easy even for a beginner trader with limited knowledge of how trading works to use the dashboard to set their risk management strategy and parameters.
2. Boasts Market-Leading Win Rate
The trading robot claims a very high success rate, with the majority of placed trades ending successfully. However, high initial capital and some experience trading cryptocurrencies is also necessary for ensuring greater profits.
3. Faster Than Manual Trading
The main advantage claimed by this automated trading robot is that it makes the trading process much faster and more comfortable than manual trading. So, if you were to handle this process all by yourself by going over charts through technical analysis and then having to set your strategy, it would take you a lot of time. It's a full-time job if you choose to do it manually. But thanks to auto traders like The News Spy, it doesn't have to be this way.
4. Smart Analytics
The News Spy claims to use artificial intelligence to gather cryptocurrency market data that is likely to impact trades. This could be news, project announcements, and influencer ratings. Then it utilises machine learning to learn patterns of how such information impacts trading and makes decisions based on the news. Given the crypto market is fast-moving and dynamic, machine learning plays a significant role in helping the bot develop in sophistication with time, hence, helping it stay one step ahead of the market.
5. Remove Human Error
Limiting the number of errors occurring within trades is vital if you are to succeed as a trader. The fewer the mistakes, the more money you can potentially make in the crypto market. Well, in an ideal world where humans lacked emotions, this would be possible. But since we have feelings that help us understand each other, it's impossible not to commit mistakes. You see, these feelings can make us irrational, especially when we are faced with tough and logical decisions. As an automated trader, The News Spy claims to take away the emotions from trading, thereby assisting users in placing trades with more accuracy and higher success rate.
Advantages and Disadvantages of The News Spy
We began our research to find out two things. The sign-up process was easy and straightforward. We had to verify our accounts or declare our identities before using the platform since it has to abide by several regulators on KYC and AML.
Once we began trading, the experience was fantastic since the software did all the work, and our job was limited to just adjusting our strategy. The payouts were also processed instantly after the positions were closed. We were able to withdraw without a hitch, and the requests were processed within 24 hours. We then checked what other people who have used this platform had to say and mostly found positive feedback.
Frequently Asked Questions
It seems The News Spy has a substantial following because our research uncovered several statements that declared the software as authentic.
The official The News Spy website asserts that users need to spend one hour of their day on The News Spy.
Although The News Spy claims users can earn between $950 and $2,200 per day, we feel that the assertions are impractical for users with a small trading capital, and a shallow understanding of how the cryptocurrency market works.
You should learn everything about The News Spy using the demo feature. You should also link up with other The News Spy users on various online platforms to exchange insights.
The News Spy pairs up users with appropriate brokers to facilitate trading. From our experience, there is no assurance regarding the licensing status of the broker, which is why you will need to perform an initial check before proceeding.
No. The News Spy is built to generate insights that exploit income earning opportunities in the market but it might struggle to handle the price gyrations that are characteristic of the crypto market.
Yes. Check out our robot hub for more products like The News Spy.
No. There are claims alluding to this scenario but a little check on our end could not confirm them.