Centobot is a brand new fully automated trading software that trades binary options. The system places trades on its members’ behalf, but traders can still retain some control by making use of the indicators to personalise their settings and even create their own robot.
Read the full review to discover all the pros and cons of Centobot
Open an Account with Centobot
Registering for an account with Centobot is a simple and swift process that takes less than 5 minutes. Once an account has been created, traders get access to the trading platform where they can see a list of robots to choose from in a panel on the left of the screen. Here traders also have the option to fund their account to begin trading,
Traders should note that the Centobot software is completely free of charge. However, in order to start trading, they have to make a deposit with a broker connected to the Centobot system. We found that Centobot is currently only linked to one broker, BinaryCent. This is a bit limited since most robots offer their members a choice of several brokers. However, we understand that the system is still getting off the ground and more brokers may be added at a later stage.
Like Centobot, BinaryCent was also launched just recently in 2017. It is licensed and regulated in Vanuatu, meaning that the regulation is somewhat light so traders should exercise caution. However, the minimum deposit with this broker is just $10 while the minimum trade size is an unbelievable $0.10. This is a huge advantage and makes it stand out from most other brokers on the market.
When it comes to account types, trades can choose from 3 types;
- Bronze – the cheapest and most basic and includes a live video chat and withdrawals within 1 hour.
- Silver – comes with a minimum deposit of $100 which is still lower than the industry standard. Also, includes a web master class, a 50% bonus and 3 risk-free trades.
- Gold – comes with a minimum deposit of $300. Includes 100% bonus, a Swiss prepaid card and a personal success manager in addition to all the perks of the cheaper accounts.
Traders may fund their account by credit card (Visa, Mastercard), bitcoin, and e-wallets (Skrill, Neteller).
Centobot Robot Platform
After registering for a free Centobot account, traders will gain access to the platform and be able to choose from a list of top ten robots.
What makes Centobot stand out from its peers is the fact that there are different minimum deposit requirements depending on which robot traders choose.
Each robot comes with its own description which explains the trading strategy employed and the profit percentage payout. The highest-ranking robot currently in first place on the Centobot platform is the RSIMA Cross which requires a minimum deposit of $3000 but promises a payout of 303%.
Traders also have the option to create their own robot by selecting indicators and customising their settings.
Centobot Support Options
Unfortunately, Centobot customer support also left much to be desired. All they provide is an email address ([email protected]) on their page and a generic form which traders can fill out and submit. We are usually accustomed to much more in this area such as phone support or live chat but Centobot provides neither of these which is quite disappointing.
There is also the absence of an FAQ or education section on the website; again, this works against the robot since these sections are generally considered important for traders to understand how the robot works.
The website is available in 8 languages; English, Russian, French, Arabic, Spanish, German, Thai and Chinese.
After testing out the software in demo mode we can say that the robot looks promising, however, there is a lot of room for improvement.
We have requested additional information by emailing customer support and will update this review accordingly when we get a reply.