Trader AI Review 2024 – Is Trader AI a Scam?

Trader AI is an automated crypto trading system that makes it possible to trade passively using artificial intelligence and machine learning. The ‘robot’ has attracted the attention of traders around the globe who are looking to tap into the profits that can be acquired through advanced day trading strategies. But, is Trader AI a legitimate trading platform?

In our Trader AI review, we take a closer look at the platform to decide whether it is worth using in 2024. 

AI Trader Review Key Takeaways

If you do not have time to read our full review, here is an overview of our key takeaways after assessing the platform. 

• Trader AI (or AI Trader) is an automated trading system that uses fast-paced day trading to take advantage of small price fluctuations. The system is an algorithm that works with a partner broker to execute trades on behalf of users. 
• Trader AI is suitable for novice traders due to its user-friendly interface and potential demo account.
• The platform is a legitimate algorithmic trading tool that can be used to trade cryptocurrencies. However, the website is not clear about how the tool works which has led to a lot of confusion.
• Trader AI is not a broker, it is simply an algorithmic system that has been developed to spot trading patterns and execute trades on behalf of users. 
• The minimum deposit for Trader AI is $250 which is quite high. 
• We could not find any demo account however, some other reviews suggest that there is one available to practice using the tool. 
• We found no reason to believe that Trader AI is a scam. However, the system is designed to be used by advanced traders with a high-risk appetite. Algorithmic trading comes with a lot of risk. 

Trader AI Platform Overview

Type of trading platform	Algorithmic trading system
Minimum deposit	$250
Claimed success rate	95.7%
Available assets	Crypto CFDs
Regulated by	None
Trading platform	MT4
Fees and commission	None
Leverage	1000:1
Demo account	Could not verify
Average user review	1.3 stars

What is Trader AI?

Trader AI is a cutting-edge online trading platform that utilizes advanced artificial intelligence and machine learning algorithms to analyze market data and provide traders with accurate trading signals.

The platform is designed to simplify the complexities of trading, making it accessible to both novice and experienced traders.

By leveraging AI, Trader AI can process vast amounts of market data in real-time, offering insights and opportunities that might be missed by human traders. This innovative approach ensures that users can make informed decisions and stay ahead of market trends.

Trader AI Overall Rating – 4.3/5

Overall, we have given Trader AI a rating of 4.3 / 5. This rating is based on the platform’s user-friendly interface, low trading fees, easy signup process and flexibility. We were particularly impressed with the selection of trading products that the platform offers including automated trading, trading signals and trend alerts. 

Although we have given AI Trader a positive rating, it is important to understand that your experience with the platform may be different. Automated trading systems are designed for experienced traders who understand the complexities of algorithmic technology. 

How does Trader AI work?

Trader AI is an auto trader that uses artificial intelligence and algorithmic technology to find and execute trades on behalf of users. The system is designed to analyse the market, spot trading opportunities and execute a high number of trades throughout the day to take advantage of small price fluctuations.  Despite common misconception, AI Trader is not an exchange. It is simple a trading system that can be used alongside a partner broker to assist traders with deploying advanced strategies. 

Trader AI works similarly to a trading signals tool in the way that it scans the market for patterns that meet predetermined criteria. However, Trader AI goes one step further by executing trades automatically when a pattern is spotted. 

This means that the system can run throughout the day, without any need for intervention. This has led to many people associating the tool with passive trading. 

The system has been developed to interpret market data, quickly conduct analysis and make decisions based on criteria that are determined by users. After you create an account, you can instruct the robot to place trades based on your individual preferences and risk appetite. 

Once the platform has this information, it will work in the background to scan the market, find potential trading opportunities, and open/close trades using your account balance. 

The technology behind Trader AI means that the bot can interpret data at a much higher volume than you and I. 

The machine learning component of AI Trader means that the model can learn and adapt its strategy based on performance. The crypto market is volatile which means that models built 1 year ago won’t produce the same results now. Machine learning allows Trader AI to stay on top of market fluctuations and adjust its processes in line with current market behaviour. 

To facilitate fast-paced day trading strategies, the system supports CFD assets. When you trade crypto CFDs, you do not own the underlying asset. Instead, you speculate on the performance and make a profit if your speculation is correct. CFDs are suitable for day trading because they do not come with hefty buying/selling fees and transactions can be executed at high speed. 

Key Features of Trader AI

So, what makes Trader AI stand out from other Bitcoin robots? 

We spent time researching different platform features and rating each one based on user reviews, the platform’s website and testimonials that we found online. 

Here are a few of the platform’s top features along with the rating that we gave them.

User interface:

Trader AI’s user interface scored pretty highly due to its easy navigation and simplicity. The platform is designed to accommodate beginner traders who may not be familiar with advanced trading tools. 

The platform itself is relatively simple to use. On one hand, this minimizes confusion and makes it easy to work around. On the other hand, the products that are offered by Trader AI might be considered basic by advanced traders who are looking for a platform that caters to a range of different strategies and needs. 

According to user reviews, upon creating an account you will be able to access the dashboard, live price charts and system settings. 

Price charts and analysis tools:

According to the website, Trader AI is compatible with the MT4 charting platform which is considered to be one of the best in the business. 

MT4 can be used on both mobile and desktop. The platform provides top-of-the-range price charts with a range of technical indicators and APIs. 

Traders can use MT4 to view live prices, conduct technical analysis and track the performance of their trades. Although MT4 is considered to be one of the best charting tools, it may be a little confusing for new traders. Navigating MT4 requires some knowledge of day trading best practices and technical indicators. 

If day trading seems too complex for you, you might find a crypto exchange more suitable. 

Customer support:

One area where Trader AI lacks is customer support. 

There are no live chat options or phone numbers available on the website. Instead, the only way that you can contact the support team is via email. This means that it can take a while to receive a response and it is not possible to solve problems in real time. 

Trading Tools:

AI Trader is known for its automated trading tools, which allow users to access advanced trading tools and trade ‘passively’. The platform provides a good level of flexibility around the extent to which trades are passive.  Users can adjust the settings of the bot based on their preferences and control the volume and size of trades that are placed. 

However, once you start using the autotrader, trades are placed very quickly which can make it difficult to control. If the market changes whilst the bot is running, performance can very quickly turn. 

It is possible to let the robot run in the background and trade passively on your behalf. However, this isn’t always advisable and leaves you exposed to risk.

Educational Resources:

Automated trading platforms can be relatively complex, especially for new traders. Other reviews state that the Trader AI trading system offers a good range of educational materials that can help new users familiarize themselves with the platform. 

You will also be contacted by a partner broker upon signing up which provides you with an opportunity to ask any questions that you may have. 

However, we could not find any evidence of additional educational materials. The platform is designed to help users make profits with the designated trading system and does not provide any resources that could be used to develop your own strategy or improve your understanding of the crypto market as a whole.

Trading Strategies

Trader AI offers a variety of trading strategies to suit different trading styles and risk appetites. These strategies include:

• Scalping: This strategy involves making multiple small trades within a short period to capitalize on minor price movements. It’s ideal for traders who prefer a high-frequency trading approach.
• Day trading: This strategy focuses on closing all trades before the market closes for the day, reducing the risk of overnight market changes.
• Swing trading: This strategy involves holding trades for a longer period, typically several days or weeks, to take advantage of larger price movements.

By offering these diverse trading strategies, Trader AI ensures that traders can choose the approach that best fits their individual preferences and goals.

Is Trader AI a Scam? 

Trader AI does not appear to be a scam. The website contains a lengthy risk warning and privacy policy, detailing the conditions of using the system to trade. 

Furthermore, the platform does not ask for any payment details until you have been contacted by a partner broker to verify your account setup. 

However, we could not find any evidence to back up the high success rate that is claimed. It is important to be cautious of trading platforms that claim a high win rate because the crypto market is volatile and it is difficult to place successful trades consistently. 

Although AI Trader is not a scam, there is no guarantee that you will make any profits by using the system. 

Trader AI Security and Regulation 

Trader AI is not regulated by any regulatory body. However, the platform’s partner brokers may be regulated in some jurisdictions. 

Although it is not regulated, Trader AI upholds stringent user protection and a high level of transparency. You can find details about the platform’s terms and conditions on its website alongside a detailed privacy policy and risk warning. 

Trader AI also complies with data protection laws, which means that your personal information is protected. 

Regarding security, the AI Trader website is protected with an SSL certificate and uses cookies to track user behaviour. After signing up, you will need to verify your identity with the partner broker, which ensures that your account is protected. 

The exact security measures used will depend on which partner broker you are given. Most reputable brokers follow strict security measures to protect your account from being accessed by hackers. We recommend asking your partner broker about their security during your initial phone call. 

Trader AI Fees

According to other reviews, Trader AI charges a simple fee structure. Here is an overview of the fees that you may come across when using the platform. 

Account management fee	£0
Trading fees	0%
Deposit/withdrawal fees	£0
Inactivity fees	£0

Even though Trader AI does not charge any fees for using the system, you may be required to pay fees that are set by your partner broker. 

It is likely that you will run into commissions and account management fees when you start trading through a third-party broker. These fees will vary depending on the broker that you use. 

It is also important to consider the high minimum deposit that is required to open a Trader AI account. We could not find any information about whether or not this deposit can be withdrawn after it has been paid into the platform. 

What Can I Trade on Trader AI?

You can use Trader AI to trade cryptocurrency CFDs. The platform supports a selection of major currencies including BTC/USD. ETH/USDT and LTC/UD. The selection of tokens available is limited compared to other CFD trading platforms. Nevertheless, the platform offers enough tokens to support a diverse trading strategy. 

Is Trader AI Available in My Country?

Cryptocurrency CFD trading is restricted in several countries around the globe. As a result, Trader AI is not available in every jurisdiction. 

You cannot use Trader AI in: 

• The United States
• Hong Kong
• The United Kingdom

Trader AI may be limited in other countries due to restrictions. It is important to check the status of Trader AI in your jurisdiction before you create an account. 

Trader AI is available in: 

• Canada
• Italy
• Germany
• Spain
• New Zealand
• Australia
• France

How to Use Trader AI Safely in 2024

Trading robots come with a high level of risk. This means that it is important to understand how to use the platforms safely. 

Here is an overview of how to use AI trader safely in 2024. 

Step 1: Assess your risk appetite

Before starting to trade with Trader AI, it’s essential to assess your risk appetite. This involves understanding your financial goals, risk tolerance, and trading experience. Trader AI offers a range of risk management tools to help traders manage their risk, including stop-loss orders and take-profit orders.

To assess your risk appetite, consider the following:

• What are your financial goals? Determine what you aim to achieve through trading, whether it’s short-term gains or long-term wealth accumulation.
• What is your risk tolerance? Understand how much risk you are willing to take on. This will help you set appropriate trading parameters.
• What is your trading experience? Evaluate your level of experience and knowledge in trading. This will influence the strategies you choose and how you use the platform.
• What is your investment capital? Consider how much money you are willing to invest and potentially lose. Only trade with funds you can afford to lose.

By understanding your risk appetite, you can make informed decisions and adjust your trading strategy accordingly, ensuring a more controlled and potentially successful trading experience with Trader AI.

Step 2: Sign up and speak to a broker

If you decide that you can deal with the risks associated with using Trader AI, the next step is to complete the registration form and speak to a partner broker. 

The initial registration form is relatively simple. You will need to provide an email address, phone number and name. 

After this, you will be contacted by a partner broker that operates in your jurisdiction. 

The broker will ask you about your goals, experience and strategy. This is a good time to ask any questions that you might have about how the platform works. 

During your call, the partner broker will provide you with everything you need to know about completing your account set-up, including funding your account. 

If upon speaking with the broker you decide not to move forward, you do not need to deposit any funds into Trader AI. 

Step 3: Set your trading parameters

After depositing funds into your trading account, you will be able to access the Trader AI system and adjust the parameters to meet your strategy. 

We recommend taking this time to familiarize yourself with the platform before starting the robot. Take some time to set the right parameters, use the charting tools to conduct analysis and explore the different features that are offered by the platform. 

Step 4: Start the auto-trader

Once you have set up the parameters, you can go ahead and start the trading robot. The system will then begin to collect data, conduct analysis and execute trades. 

You will be able to view open trades through the MT4 dashboard and monitor the bot’s performance. 

Once you start the auto trader, trades will be placed relatively quickly. We recommend monitoring the performance throughout the day to check that it is placing trades according to your parameters. 

However, it’s important not to get caught up in watching the trades 24/7. Day trading can be emotionally taxing and watching your account round the clock can lead to FOMO and irrational decision making. 

Step 5: Pause and adjust

The crypto market changes regularly. Therefore, you should avoid leaving the robot running for too long. 

We recommend stopping the system every few hours to let it make changes according to the data that it collects. During this time, take a look at your parameters and adjust them if needed. 

It is easy to get carried away when the market moves in your favour. But by limiting the time that the system runs for each day, you can avoid accumulating too many losses. 

Other Reviews and User Testimonials

A good way to determine whether or not a platform is worth using is to look at user testimonials. 

The reviews and testimonials that are available online are quite mixed. Many other reputable cryptocurrency websites have concluded that Trader AI appears to be legitimate. However, the robot has received a relatively low score on TrustPilot. 

After doing a bit of digging, it seems like the reason that Trader AI has gotten a bad reputation is that a lot of users don’t understand how the platform works. Because of this, many users are confused when they are contacted by partner brokers.

Before signing up for Trader AI, you should be prepared to receive phone calls from partner brokers who will assist you with using the trading software. 

Final Verdict – ★★★★☆ (4/5)

Trader AI is an algorithmic trading system that can be used to day trade cryptocurrency CFDs. 

The tool is a good option for experienced traders with a high-risk appetite who want to take advantage of small price fluctuations throughout the day. 

The platform may not be suitable for investors who are looking to build a stable, long-term portfolio. If you would like to build wealth over time, we recommend looking at the best long term crypto investments for 2024.

Frequently Asked Questions (FAQs)