TaoTrade Broker Review 2021: Legit or Scam? Find out below!
TaoTrade is a CFD broker founded and headquartered in Greece. The broker operates internationally with presence in over 120 countries in the UK, Asia, Australia, and Africa. TaoTrade offers both manual and auto-trading.
However, it’s mostly known for auto-trading through a trading bot known as Bitcoin Up. The broker has been in partnership with this robot since 2015. Bitcoin Up has severally been recognized among the best crypto trading robots in the market today.
Those who trade with TaoTrade through the Bitcoin Up robot can reportedly earn a daily profit of up to 600%. In this review, we will discuss TaoTrade features and how you can use Bitcoin Up to get the most out of it.
All trading carries risk.
What is TaoTrade Broker?
TaoTrade is a renowned broker offering both manual and automated trading. For manual traders, the broker offers the MT4 platform. There is nothing special about this platform since it is what most brokers offer.
TaoTrade competitive edge is in Bitcoin Up, its auto-trading platform. You do not need any trading experience to trade with TaoTrade through Bitcoin Up. This is because the bot carries all trading automatically and at a win rate of 90%.
This is better than what the most experienced trader can achieve in manual trading. It, therefore, makes sense that the TaoTrade auto-trading option is the best for both beginner and experienced traders.
TaoTrade auto-trading partner, Bitcoin Up, is equipped with AI algorithms to ensure the supposed profitability. The application of AI in auto-trading is popular with top institutional traders, including Wall Street banks such as JPMorgan and CitiGroup. Top Wall Street AI robots are known to beat the markets 99% of the time.
TaoTrade, in partnership with Bitcoin Up, aims to bring the benefits of this technology to ordinary people looking for an easy way to profit off the crypto markets. Bitcoin Up was founded by a team of ex-Wall Street bankers and quants working for leading hedge funds. The robot applies secret trading strategies to generate up to 600% in daily ROI.
All trading carries risk.
TaoTrade Review – Trading Products!
TaoTrade offers over 350 products in spot forex and CFDs. Spot forex involves 43 currency pairs including all majors, most minors, and a few exotics. TaoTrade offers a manual trading option for spot forex. Consequently, you need trading experience to make money through the manual option.
We strongly advise against the manual option since it’s not as lucrative as the automated one. Those who choose to trade with TaoTrade through the Bitcoin Up robot do not need any expertise to make money through the platform. For the record, TaoTrade automated trading option only supports CFDs trading.
TaoTrade CFDs offerings include stock, commodities, market indices, and crypto. Some of the global stocks you can trade include Facebook, Netflix, Google, and Amazon. You can also trade popular market indices such as the S&P 500 and commodities such as US Crude Oil, Gold, and Silver.
Crypto CFDs are the most popular with over 30 tradable pairs featuring BTC against other cryptos and fiat currencies. The most popular crypto CFDs pair includes BTCUSD, BTCEUR, BTCGBP, BTCETH, and BTCETH. TaoTrade the most favourable crypto CFDs trading conditions in the market.
The maximum leverage you can trade with TaoTrade through Bitcoin Up is 1:1000. TaoTrade has agreed with Bitcoin Up to only charge a 2% commission on profits made through the robot. The broker also charges a floating spread starting from as low as zero pips. This is the lowest you can get in the industry with auto-trading brokers.
Auto-trading through the Bitcoin Up robot
Auto-trading involves an intelligence piece of computer software conducting trading on behalf of the user. Bitcoin Up can supposedly analyze the markets and generate trading signals with 90% accuracy. Its algorithms are powered by a technology known as machine learning to enable them to adapt to changing market conditions. This means that profitability remains even in extreme market volatility.
Bitcoin Up comes with multiple risk management features, including the Stop Loss and Take Profit features. You must read the TaoTrade/Bitcoin Up trading guide to understand the risk process and how to apply these features.
The trading guide is written in layman’s terms and hence easy to follow even for those who are completely green to trading. You should also watch the trading tutorials on Bitcoin Up website before starting live trading. The steps below should get you started with TaoTrade through Bitcoin Up.
STEP ONE: Register with Bitcoin Up
Visit Bitcoin Up website and register an auto trading account. Click next to be redirected to TaoTrade deposit page.
You will need to verify ID to be able to transact with this broker. Identity verification is an important step since it protects users from fraudsters. All brokers with the regulation in developed financial markets must observe the verification guidelines.
You can deposit and practice on the demo as TaoTrade verifies your identity. Verification only takes about an hour.
STEP TWO: Fund your account with at least 250 USD
Deposit at least 250 USD with TaoTrade to auto-trade with Bitcoin Up. As mentioned above, Bitcoin Up redirects you to TaoTrade deposit page after registration. The accepted account funding options include bank transfer, major debit and credit cards, and some e-wallets such as Skrill, Neteller, and WebMoney. TaoTrade doesn’t charge any deposit fees.
It takes less than a minute for deposits to reflect in a trader’s account. Moreover, it takes less than a minute for deposits to reflect in a trader’s account.
STEP THREE: Read Trading Manual and Practice on demo
Bitcoin Up is accompanied by a trading guide and a demo account. The trading guide is explained in layman’s terms so that beginner traders can follow it successfully.
There is also a demo to help new users practice what they learn through the guide. The demo offers a complete simulation of real-time trading. This allows beginners to master the trading platform without risking actual money.
It is important that you practice for at least an hour on the demo account before going live. You should also engage the TaoTrade/Bitcoin Up dedicated account manager to guide you through the first stages of trading.
STEP FOUR: Open a live trading session
Live trading on Bitcoin Up happens at a click of a button. As stated earlier, the bot carries out trading automatically and at a supposed win rate of 98%.
Bitcoin Up automatically conducts trading research and relays signals to TaoTrade for execution. TaoTrade relies on advanced order execution system to ensure that all orders relayed by Bitcoin Up are implemented at zero slippage.
Bitcoin Up earns profits from small price movements through a trading strategy known as scalping. It is therefore paramount that the order execution system is superfast. You need to let this robot run unmonitored for not less than 8 hours per day to get the best out of it. The best time to trade with TaoTrade through Bitcoin Up is from 8:00 AM to 4:00 ET.
Crypto markets are highly volatile during this period due to the ongoing live trading on the New York Stock Exchange (NYSE). Bitcoin Up tends to generate more profits with rising volatility.
Is TaoTrade legit or scam? The verdict!
We have investigated TaoTrade broker and confirmed that it is legit. This broker is adequately regulated in most jurisdictions of operations including South Africa, the UK, Australia, and some parts of Asia.
TaoTrade is popular for auto-trading through its partner trading robot known as Bitcoin Up. A background check on Bitcoin Up confirms that it is a popular trading platform. This robot has a supposed win rate of 90%.
Some of the users who have reviewed this robot on TrustPilot report making up to six times their deposit in the first 24 hours of trading. Trading through Bitcoin Up seems less risky and more profitable than manual trading. You can get started with TaoTrade through Bitcoin Up by clicking the link below.
All trading carries risk.
Is TaoTrade legit?
Yes! We have investigated TaoTrade and confirmed that it is a reputable broker. The broker is well regulated and has great customer feedback on most review sites.
How do I trade with TaoTrade?
TaoTrade offers auto-trading services through a trading robot known as Bitcoin Up. Registrations for auto-trading takes place on Bitcoin Up website.
Can I withdraw from TaoTrade?
Yes! Click the withdraw button on Bitcoin Up to be taken to TaoTrade withdrawal page. Fill a withdraw request form and wait for funds to be processed.