Scam or Not? Updated Review 2022
Trading can be a highly delicate activity to perform, especially when there are high investment amounts involved. With the ongoing increase of new traders worldwide, several trading platforms and brokers have done their best to optimize their software and get new users to use their product.
One of the most popular products used to trade is a trading robot. Fortunately, you can find several of these trading robots on the internet for free, and they work amazingly. However, this is not the case for all trading robots.
Thanks to Bitcoin’s increasing popularity, many scammers have taken the opportunity to create fake trading platforms to get users’ card information or money. Some of these scams are too obvious, making them easier to avoid, but others do a good job at hiding the scam.
At TrustPedia, we always advise new traders to pay attention to even the smallest detail. If something seems off about the software, it may be best to avoid it entirely. Our job is also to review some of these potentially fake websites and report them to you so that you don’t have to spend time investigating the websites yourself.
In this case, we’re going to take a thorough look at Stellar Profit, which claims to be a new CFD trading platform. According to our general overview, we can tell you right now that this software doesn’t work as intended, so you may stay away from it.
If you want to know more about our discoveries, make sure to read the rest of this review! We’re also including a list of legitimate trading robots that we’ve found over the years.
- 1 What to do instead?
- 2 General Overview – Is Stellar Profit Legit? – Not Likely!
- 3 What is Stellar Profit?
- 4 Stellar Profit Review – Why Is It a Scam?
- 5 Is Stellar Profit a Scam? The Verdict!
- 6 Frequently Asked Questions
General Overview – Is Stellar Profit Legit? – Not Likely!
- TrustPedia gives Stellar Profit a low legitimacy score of five percent. The website doesn’t provide any specific information on how it works or the technology it uses.
- According to our preliminary research, we found out that the trading software itself isn’t real. It’s a mockup used to lure new users in, but it doesn’t work.
- We’ve found several negative reviews of users talking about Stellar Profit. According to those reviews, the app’s accuracy rate is significantly low.
- Read more about Stellar Profit below. Additionally, check out our YuanPay Group review, which is a legit trading robot.
What is Stellar Profit?
According to the website’s information, Stellar Profit is a CFD-trading app that can access market data in real-time. Additionally, it claims to allow you to have leverage on an asset’s price changes in a safe trading environment. However, we immediately noticed that Stellar Profit uses the same generic information that other scam websites, such as the Easy Trade App, Bitcoin Bank and more use to explain how their software works.
One of the first things we do for our reviews is to test the trading platform itself for a few hours to see how it behaves. We immediately noticed that not only the platform is fake, it also provides inaccurate results. All the time.
Thanks to these first results, we can safely say that Stellar Profit doesn’t have a truly legit trading robot working at the moment.
Stellar Profit Review – Why Is It a Scam?
A common pattern we’ve noticed among new scam trading robots is that they stopped focusing their content on promising unrealistic results and started focusing on the power of the software itself.
While this could seem like a good sign that the software is legit, it’s not; Stellar Profit claims that its software is one of the most powerful ones on the market, but it doesn’t provide you with any evidence of these claims.
You must always look for proof of what the trading robot is claiming. Anyone can say: “This software does a great job at finding good trades,” but if it doesn’t have any data to back up these claims, you may be better off without those sites.
On the other hand, Stellar Profit doesn’t provide any lists of its brokers or partners, which is bad news. Stellar Profit’s primary goal is to get you to use their app regardless of your current trading experience; that’s why it keeps claiming that you can use this app even if you’ve never traded in your life.
Generic and Fake Software Information
As mentioned before, Stellar Profit provides a page full of generic information that doesn’t truly say anything. It claims to be “A CFD trader that guarantees great results regardless of your trading experience.”
You’re not getting any new information from that, and it doesn’t say anything about how the software works.
Additionally, it claims to have the latest algorithmic technologies in the trading world, but it doesn’t explain further than that. There’s no hard proof of what these algorithms are, how they work, or how they can help you trade better.
Finally, the app claims to have the latest SSL encryption standards, but there’s no evidence to back up these claims, you would just have to take their word for it. While the website states that it’s not going to sell your data to third parties, you don’t have any way to verify that.
Overall, a website without any specific information about its software can’t be a reliable one. In these cases, we advise you not to register since they can take your card information or money.
Regardless of the trading robot you’re planning to use, you must look at the brokers the company works with.
You can check Benzinga’s list of the best cryptocurrency brokers here. Additionally, you must ensure that these brokers are regulated by a legit agency, such as the FCA, the NFA, or the CFTC.
Stellar Profit’s website doesn’t provide you with any information on the brokers it uses, so it’s safe to assume that they regulate the transactions themselves. However, it doesn’t provide a list of regulators either; this means that there’s no way to tell who is managing your money after you invest it in the trading robot.
Several other scam websites, such as Crypto Investor, Crypto Bank, Crypto MasterBot and Anon System, don’t mention anything about brokers or regulators because they don’t have any. When the company receives your money, it’s free to manage it in any way they want.
Fake Trading Platform
While it looks like a real trading robot at first glance, it was easy to confirm that it wasn’t.
According to our research, there are no indicators of an algorithm being used at any time. Instead, the app sends you random trading signals depending on how you set up your trading preferences, which mimics the supposed algorithm.
In essence, the results you’re supposedly getting from Stellar Profit aren’t real, and they’ve been randomly generated by the website to make you believe you’re making a profit.
Inexistent Safety/Security Measures
Aside from telling you that Stellar Profit is safe to use, the company doesn’t tell you anything else about its security measures. Legit trading robots, such as BitQT, offer you a full overview of their security measures so that you can feel safer while trading.
Every trading robot has the legal obligation to tell you how your data is going to be used and protected from any third-party companies. However, Stellar Profit doesn’t provide you with any of that; its “Terms and Conditions” page contains a copy-paste of a generic Terms and Conditions page, so there’s no way to make sure if what you’re reading is real.
Is There Any Information on Stellar Profit’s Creator?
It may seem obvious that a company that doesn’t reveal who’s behind it may be a scammer, but some people don’t know that.
Stellar Profit has an “About Us” section, but it only has a small box where you can contact them; it doesn’t say anything about the company or the creator.
If you don’t find any information about the company, its credibility falls way lower than it was before. In this particular case, we didn’t find any information linking to a specific creator, so we can safely guarantee that this software isn’t legit.
Is Stellar Profit a Scam? The Verdict!
Considering all the points explained above, we can say with almost 100% accuracy that Stellar Profit is a scam, and it doesn’t provide any benefits to your trading journey. Here’s an overview of all the negative things we found about the website:
- The website’s content is generic and uninformative.
- The trading robot is fake.
- There are no data protection policies.
- There’s no information about the company or the creator.
We advise you not to trust your money with Stellar Profit. Instead, we encourage you to try out Bitcoin Up, Oil Profit, Bitcoin System, or Immediate Edge, which are four reliable trading platforms you can use today.
If you want the full list of our recommended and not recommended trading robots, check it out here.
Frequently Asked Questions
In this section, we’re going to provide additional insight on Stellar Profit and other trading websites. If you want to have an overview of everything on this page, make sure to read this list!
- Is Stellar Profit a Scam?
According to our research, Stellar Profit is a scam. There are no signs of it being reliable or safe for the user, so we heavily encourage you not to use it.
- Can You Earn Money on Stellar Profit?
No, you cannot earn money using Stellar Profit since it’s a scam. If you decide to spend your money on that site, you’re likely going to get scammed, making you lose your full investment.
- Are There Any Safe Alternatives to Stellar Profit?
Yes! There are many alternatives to Stellar Profit that you can find. All these websites have been tested and qualified as legit, so you don’t need to worry about your security.