The News Spy (thenewsspy.com) claims to be the ultimate crypto solution which is supposed to make its users millions of dollars. This firm does not state the exact kind of returns you can earn which apparently might be the reason why they appear legitimate to the untrained eye.
There is no information about the creators behind this platform which is a common trait of a fraudulent program. If you go through all the information put up by these crooks, it is clear that they have gone beyond their limit to convince you otherwise.
If you were considering to open an account on their platform or want to know everything about them then continue reading our comprehensive review to find out why you should never trust this firm to trade on your behalf.
How does The News Spy Work?
This firm states that the formula in online money making is always being one step ahead of the crowd in knowing what’s going on behind the scenes. Their software supposedly scans hundreds of relevant news sources 24/7 and then they are ranked manually by their analysts to predict a trend.
Simply put they are claiming to have produced a disruptive software which pinpoints the exactly when to trade and which assets to trade. Their explanation does not make much sense. It is true that fundamental move the market but not always, there are a lot of factors which affect the price of the assets.
Relying only on one approach will be a big disaster to your trading account. Apart from all the bells and whistles this platform never talks about other important factors of trading like risk profiling and diversification. There is no assurance about the reliability of their software.
How can any investor trust this platform with their money without knowing the maximum win rate and draw downs achieved by their algorithm?
What kind of profits are offered by The News Spy?
This firm states that the users can expect to make at least $1,500 per day regardless of market conditions. The easy money claims are used by many scams similar to this platform to catch the attention are very enticing and appealing but ask yourself if this platform really generated the type of returns as advertised with little to no risk associated, why would they offer it to the public for free?
Fake endorsements
Whenever something is being promoted positively by media channels, the underlying product or service earns a good reputation.
This firm claims that it was featured on CNBC, Bitcoin.com, Coindesk, NewsBTC and Cointelegraph but while we were trying to find any information about them on the above stated channels, there weren’t any which means they have bluffed.
On top of all these lies they state that they had predicted the downtrend in bitcoin before anyone but again there is no proof, considering all the misleading information on this platform, we wouldn’t believe anything they say.
Testimonials
There are a few testimonial put up on their website wherein the early users of this service share their experience and views about the effectiveness of this platform. All the comments are extremely favorable towards them but don’t trust any of it.
The videos are not from actual users but from paid fiverr actors. Why would any legitimate solution feature fake testimonies unless they are tricking us to do something they want.
Popularity
According to the data provided by whois.com thisdomain was registered on 14/03/2018 and it expires on 14/03/2020.
This website ranks 29,301 in Australia and has a global rank of 442,076.
A simple alexa.com search will reveal that the majority of the users coming to this website are from Australia, Singapore, Ireland, New Zealand and Bosnia and Herzegovina.
Deposit and Withdrawal
The minimum deposit amount is $250. The brokers synced with this platform are all unregulated and we strongly advise you to avoid using them. Remember to always stick with regulated brokerages which ensures the safety of your funds and in addition provide you better liquidity.
Company and Contact Details
Any company which provides financial services of any kind to the retail traders have to be regulated in order to operate lawfully.
Since they have not put up any details which could help us trace their identity, we strongly believe they are unlicensed and are operating illegally. If you encounter any kind of problem on their platform then guess what? There is nothing you can do about it.
Any reputable investment firm will never operate without having a support team in place because client user experience are considered seriously by them unlike these fake platform who does not care to answer the queries of the investors.
Can I trust The News Spy?
After thoroughly going through their platform which does not have any element which makes it trustworthy or reliable it is better to avoid them at any cost. If this software was the real deal then they would have had the courtesy to provide a demo account so that the users can test out their platform before committing with their capital.
The News Spy Review Conclusion
The News Spy gets paid whenever they refer new clients to the off-shore unregulated brokers. Their trading software have not made anyone rich but if you fall for their shameless unethical marketing tricks then be remember the chances of getting back your funds is next to nothing.
There is no way anyone can earn thousands of dollars by clicking a few buttons unless you are prepared to dedicate time to learn how markets move and work, you should never jump into trading.