In this GoArbitrage review we explains doubts that we have about this cryptocurrency trading robot.
The robot is fully automated and will make trades on your behalf. It costs from $99 per month to $800 per year. Is it worth it?
Let’s start by explaining what arbitrage trading is. There is a lot of crypto exghanges and the prices often vary between them. For example the price of Bitcoin will not be exactly the same on every exchange out there.
And arbitrage trading takes advantage of this fact, you buy a cryptocurrency on an exchange with a lower price and then resell it on another exchange for a higher price. That is the theory.
GoArbitrage promises to automate all this for you. The first problem we see is this: You have a profitable arbitrage robot, so why you sell it to the public instead of using it and making money with it for yourself?
You see, arbitrage trading is not that easy, because arbitrage opportunities are thinner and thinner as more and more people trade them. There are professional robots trading them. The more people trade them, the less opportunities for profits.
So, it makes no sense at all to sell an arbitrage robot, if it is profitable, because it will destroy its performance.
GoArbitrage claims that arbitrage trading involves no risks, but it is not true. Arbitrage opportunities can disappear before you complete your trades on both ends, you have to fund your accounts with a lot of exchanges and some of them can go bankrupt, you can have withdrawal problems etc.
There are risks, especially because opportunities tend to appear on smaller and less known exchanges that are risky to deal with.
Last but not least, making hundreds of percent per month as GoArbitrage claims is not realistic. They have nothing to back up their claims.
A robot that can make you 19% to 235% per month and it costs $99? It makes no sense at all and this looks like a scam to us.
GoArbitrage review conclusion
We are pretty sure that GoArbitrage cannot deliver the performance it promises, moreover arbitrage trading is not without risks, be careful!
We recommend trading only with regulated brokers and reputable exchanges, if you want to enter the world of cryptocurrencies.
And remember that no financial trading is without risks.