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The fact that major cryptocurrencies have outperformed every asset class this year - beating gold, the S&P 500, and major tech stocks like Google and Apple - seems to have fallen under most people’s radars. Sadly, cryptocurrency is known more for its rampant volatility and this can be a turnoff for the average, risk-averse investor.
A major factor fueling volatility in highly speculative markets is news events. Always open and globally accessible, never before has there been a market that responds to market-sensitive breaking news like ‘crypto’. Traders, armed with technology that can adapt to sudden changes in market conditions, stand to profit the most.
Enter The News Spy - Reported to be a trading robot that brings together high-speed automatic trading software, with professionally collated, market-sensitive news data. We took a look at The News Spy to see if it really provides a market advantage.
What Is The News Spy?
In the cryptocurrency sphere, market news is one of the single biggest influencers of overall sentiment.
Despite this, market-sensitive news is an often-overlooked aspect when it comes to designing automated-trading robots. Most utilize data from technical analysis, but news influences this trading data first. What if one could quickly process this data into trading signals, which are sent to an automatic trading robot?
Who Created The News Spy?
John Mayers is reported to be the mastermind behind The News Spy. As stated on the website; Mayers was a former professional trader and finance journalist, and was an early investor in Bitcoin.
Noting the hyper volatility of cryptocurrencies which seemed sensitive to news, it is said that John set about designing software that could capture value from that volatility.
It wasn’t long before he decided to come up with a trading bot that incorporated market news with rapid response to trading signals.
Start Trading in 3 easy steps
You can register with The News Spy quickly, easily and at no cost. Simply enter your first and last name and email address into the red box on the homepage. Then you’ll just need to enter your phone number.
Once you have successfully registered with the platform you will need to deposit the minimum-trading $250 stake. The software will then transfer you to a regulated cryptocurrency broker at no cost.
When you are set up with access to The News Spy’s suite of trading tools and a live market feed, you will be able to set and forget the trading robot. Importantly, you’ll still have control over risk limits.
Pros & Cons
Key Features of The News Spy
According to The News Spy team, the average minimal profit members can make using the software is $1,500 a day. It’s quite a claim, but how much you make will ultimately depend on your initial stake and how well you set your trading parameters. It is worth noting that the testimonials on the website are full of accounts of people claiming to be making far more than that.
In order to open a trading account, you will need to provide some details to verify your identity first. This is in keeping with anti-money laundering laws and to ensure the security of your account. Fortunately, the signup process is really straightforward. To register, you simply need to enter your full name, email address, and telephone number in the box provided on the homepage. Then, you’ll need to deposit a minimum trading stake of $250 before you can start auto trading.
The News Spy team understands better than most that with cryptocurrency, circumstances can change in an instant. Traders need the flexibility of being able to both deposit and withdraw funds easily.
Costs and Fees
The News Spy is completely free to use proprietary software. There are no transaction fees and the software automatically links you to a broker with no referral fee. This broker provides the software with access to the cryptocurrency market. If you are considering trading with leverage or spreads, make sure to read the terms and conditions.
There are numerous testimonials reflecting people’s experience with the software. Most seem to be very impressed and some of the profits claimed are eye-watering. As encouraging as they are, always practice proper risk management.
One of the strengths of The News Spy is the fact that it has a skilled team on hand processing market news and assisting traders via the Help Desk. With any trading software, questions inevitably arise, and having the team accessible is a big plus. We were able to contact the team by phone and email but the live chat feature was by far the most convenient.
Some traders might consider it a downside that you cannot choose your broker. The system was designed with absolute simplicity in mind and therefore, automatically refers you to a broker. We were referred to several brokerage platforms over the course of our trial. You should always check the reputation and regulatory status of any brokerage platform you are referred to.
Is The News Spy Legitimate?
In our online search of information pertaining to The News Spy, numerous testimonials claim the software proved to be as responsive as claimed and these individuals were very impressed with the intelligence of the algorithm in determining trading signals.
The News Spy is said to capitalise on an often-overlooked key component of the market trend - market news. The interface is far easier to use than we expected with some great practical features for the average trader, while the news feed with aggregated market sensitive news was helpful.
Online reviews and the testimonials featured on The News Spy website, suggests it is not only legitimate but highly effective.
5 Reasons to Use The News Spy For Trading
1. Simple to Use
You don’t need to be a computer programmer to use this software. The GUI has been designed with beginners in mind.
2. Industry High Returns
The News Spy smart algorithm is reportedly capable of returning profitable trades with market-leading accuracy. The website claims that its robot has an amazing success rate well above 90%, indicating the incorporation of news data has led to a powerful trading tool.
3. Faster Than Manual Trading
Well-designed automated trading algorithms are capable of processing vast quantities of data in a short period of time, something humans can’t do. These robots can action trades with the speed of trading terminals, generally 0.1 seconds faster than the market average. Apart from the convenience of being able to trade from your pocket, automatic trading also limits the possibility of human error.
4. Affiliated With Regulated Brokers
When you trade with The News Spy, you will be automatically linked to the API of a brokerage platform for access to the cryptocurrency market. The trading platform has automated this process to make it as easy as possible for the average trader. We did some research on some of the brokers and found these particular platforms to be reputable and regulatory compliant.
5. Automated Trading
If you are a trader who likes to stare at trading screens and monitor market news all day, you could probably find more complex places to trade. The News Spy has a fully automated mode, which when set can trade for you, entering and exiting trades based on the parameters and risk levels you set.
What’s the Best Way to Use News Spy?
We believe The News Spy could be a useful tool in supplementing an existing trading strategy. That said, it is important for beginners to access the demo account to familiarise themselves with trading mechanisms. Access as much information as you can about this product before committing any real money, and seek out the advice of experts from the countless free resources posted online.
It is of paramount importance that you learn all you can about risk management, as poor settings can lead to loss of funds.
Has The News Spy Ever Appeared On TV?
Due to The News Spy’s reported innovative approach to automatic trading, the software began to gain quite a following online. People began suggesting that The News Spy has been featured on US and UK TV shows related to entrepreneurship and money. Let’s take a look at those rumours to see if there is any truth to them.
Jim Cramer, the host of CNBC’s “Mad Money,” has demonstrated incredible knowledge of the stock market in the past. He has commented on the boom and bust cycles of markets, how they function and spoken to some of the leading characters behind the largest Wall Street companies. Unfortunately, we were unable to find any evidence of Jim endorsing it in any way.
Also from CNBC, “The Profit” centres around multimillionaire CEO Marcus Lemonis talking to struggling owners of small businesses and sometimes investing in them. To our knowledge, the show has never covered any content relating to automatic cryptocurrency trading. It is also unlikely that Lemonis has personally endorsed the software.
Has The News Spy Ever Been Endorsed by a Celebrity?
People haven’t just speculated that The News Spy was featured on television. A number of supposed celebrity endorsements appeared online, also. Normally, when a celebrity endorses any financial product it is suspicious. Nevertheless, let’s get to the bottom of the claims.
Brad Pitt is no stranger to movies about trading. He starred in the Hollywood movie The Big Short about the financial crisis in 2008. Some speculation appeared on social media suggesting Brad was in some way linked with the auto trading platform. We found no such evidence, so like a movie, we are calling this one fiction.
Twitter CEO Jack Dorsey is known to be a big supporter of Bitcoin. He has called the Bitcoin whitepaper “poetry” and advocated for the cryptocurrency to be used far and wide. Jack hasn’t publicly disclosed what he personally owns, however, and there is no record of him putting his significant weight behind The News Spy. If he had, we would have likely heard about it.
The author of the much loved Harry Potter series has never been known for her love of cryptocurrency trading, which makes this a bit of an odd one. We found a recent tweet where someone accused Rowling of having something to do with endorsing a Bitcoin scam. She replied, “I don’t own Bitcoin. Also, the only thing I have ever recommended without understanding it was a Murdoch novel”. Safe to say this one isn’t true also folks.
5 Ways You Can Maximise Success With the News Spy
Even if you have been provided access to a cutting edge trading robot informed by live market news, you still need to use common sense.
Let’s take a look at the best strategies to maximize your chance of success.
Don’t commit too much capital to the platform too early and set your trading parameters to reflect an acceptable amount of risk. It is possible to profit without risking your life savings. Take it slow.
Save Some Profits
‘It is always a good time to take some profits’ is a popular saying among cryptocurrency traders. Take a percentage of your profits out on a regular basis to ensure you are really winning. Withdraw some profits completely off the platform to ensure you won’t reinvest it.
Follow The Advice of Experts
The mainstream media are generally not experts in the cryptocurrency industry. The real experts have been building and working with blockchain for years without mainstream exposure. Track down members of the community for advice. Some great accounts on cryptocurrency trading and investing can be found on both Twitter and YouTube.
Keep a Record For Tax Purposes
When you make capital gains on trading cryptocurrencies you will likely have to pay tax. It’s always a good idea to keep an accurate ledger of your trades so you can be compliant. This record of your trades is a useful resource in keeping a track of your trading performance.
Only Invest What You Can Afford to Lose
It is easy to get carried away when you are on a winning streak. It’s a common mistake for traders to believe a little too much in a trade and get overexposed. Your positions should be properly weighted so as to ensure proper risk management.
We are very impressed with published reviews and testimonials surrounding The News Spy, a trading tool that is reported to rival Bitcoin Boom and Bitcoin Profit in the intelligence and usability of the software. The ability to process massive amounts of market-sensitive news data and condense it into actionable trading signals a great feature of authentic trading bots.
It is, however, very important not to fully trust the word of others without testing a product for yourself through an available demo mode. CFD trading on cryptocurrencies carries significant risk. You should learn all you can about trading these digital assets, and the underlying project of whichever cryptocurrencies interest you. Never invest an amount that you could not afford to lose.
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Frequently Asked Questions
No. The News Spy has been designed to be accessible to the average user with a clean interface and the support of a 24/7 trading desk, making it far less daunting to use than a cryptocurrency exchange.
In our review of the software, we were able to deposit our minimum stake of $250 to the platform within a few hours. Several deposit methods are available including debit and credit card.
Yes. The News Spy features ‘set and forget’ functionality enables you to trade automatically after you have customized your trading settings and managed risk through features like stop losses.
The amount of money you could potentially make trading with The News Spy is really contingent on the level of risk you are happy to take on and how well you adjust your trading settings. The testimonials seem to suggest some users are making hundreds of thousands of dollars with the software.
When you trade cryptocurrencies manually, you have to ensure you have a thorough knowledge of technical analysis, while also keeping abreast of news sources that could affect the price of the cryptocurrency you are trading. Automatic trading robots are designed to respond faster to market data than is humanly possible.
Yes, you can sign up and begin using The News Spy within a few minutes without fees or commissions.
Yes. The News Spy software is designed to run in a standard web browser. This means the software will run on a desktop computer, a smartphone, or a tablet like an iPad.