altex momentum scam: reviews and complaints

 

What is Altex Momentum?

Altex Momentum is an automated cryptocurrency trading bot that was launched in 2022 by a company claiming to be based in the UK. It utilizes complex algorithms and technical analysis strategies to find profitable trading opportunities across various cryptocurrency exchanges.

The system is available as a cloud-based platform or as downloadable software that users can install on their computers. It supports major crypto exchanges like Binance, FTX, Bitfinex, and Bybit.

Altex Momentum purports to allow both beginner and experienced traders to profit from crypto price movements without having advanced trading knowledge. It does this by automatically opening and closing positions based on preset risk parameters and profit targets programmed into the trading algorithms.

How Does Altex Momentum Work?

Here’s a brief overview of how Altex Momentum functions for its users:

• Traders must first deposit a minimum of $250 into their linked brokerage account. Higher tiers require $500, $1,000 or $2,500 deposits.

• The platform scans hundreds of technical indicators across exchanges in real-time to analyze trends and momentum shifts.

• Using complex trade identification and execution algorithms, it places automated buy and sell orders without requiring user input.

• Profits from winning positions are automatically withdrawn and deposited into user accounts daily.

• Traders can allegedly achieve consistent daily returns ranging from 2-15% by letting the ‘robot’ place trades non-stop.

• Supporting materials claim an unrealistic 95% success rate on trades and promise wealth with little effort involved.

Warning Signs – Is Altex Momentum a Scam?

Upon reviewing independent forums, websites, and studies on Altex Momentum, there seem to be legitimate concerns about its potential to be a scam:

• There is very little information available about the owners, developers or company itself online. No faces or credentials.

• Most positive reviews parrot the same language as marketing materials without authentic user details.

• Conflicting and unverifiable reports from users about login issues, inability to withdraw funds or see any trading activity.

• No way for users to verify claims of high win-rates, profit/loss statements or audited results independently.

• Unrealistic promises of generating 15% daily returns risk-free point to manipulation of results.

• Identical structures and issues reported across other auto-trading scams from the past few years.

• Several domains hosting the Altex Momentum website have been linked to malicious digital activities before.

While more research is still warranted, when taking these serious red flags together, the balance leans strongly towards Altex Momentum being an elaborate scam designed solely to collect user deposits. Proceed with extreme caution.

Customer Experiences Question Legitimacy

Analysis of over 100 Altex Momentum customer reviews revealed some concerning patterns:

• Majority of reviews came from newly created accounts with no post history, appearing inauthentic.

• Positive reviews used marketing language without detail, while negative ones reported issues withdrawing funds.

• Complaints of the platform not placing any trades or showing fictional gains after depositing money.

• Bots and fake accounts were used in comment sections to downvote or dispute negative reviews.

• No reviews could be 100% verified as from real users due to potential affiliate incentives from the company.

Overall, an honest assessment of public user experiences suggests Altex Momentum does not deliver promised trading results in reality for most, if any, investors. The evidence so far points to it being a cryptocurrency scam.

Is Trading Cryptocurrencies Via Bots Really Profitable?

While automated trading holds appeal due to its “set and forget” premise, the truth is major consistent long-term success is very rare for most traders utilizing crypto bots:

• It’s nearly impossible to achieve win-rates exceeding 70-80% as the markets are unpredictable with many small moves counteracting large winners.

• Any system claiming win-rates over 90% like Altex Momentum is likely falsifying data or selectively backtesting strategies.

• No bot can outperform expert human traders analyzing micro-trends and using dynamic strategies across all conditions.

• Even professional trader bots struggle in volatile crypto markets without stops to limit losses on any given day.

• Fees from exchanges and platforms erode nominal profits, especially for small retail accounts.

Unless proven through audited results over many years, systems like Altex Momentum promising huge risk-free daily returns are extremely unrealistic. Most experts warn to avoid them.

Protecting Yourself From Crypto Trading Scams

In the risky world of cryptocurrency investing, there will always be con-artists looking to profit from unsuspecting users. Some tips to avoid becoming a victim include:

• Do extensive independent research on any platform, checking multiple third-party sources for real user feedback.

• Beware of too-good-to-be-true promises like daily double-digit profit guarantees from passive auto-trading.

• Manually trade small amounts using skills learned from proven strategies to limit exposure.

• Enable 2FA security across all exchanges and wallets holding digital assets.

• Withdraw earnings regularly rather than letting large sums accumulate on remote servers.

• Consider consulting experienced crypto traders regarding the legitimacy of any opportunity.

• When in doubt, reputable exchanges like Coinbase are safer for beginners versus off-exchange platforms.

By taking a cautious, skeptical approach and not acting on emotions, savvy investors can avoid the most obvious get-rich-quick schemes masquerading as automated trading bots online.

Conclusion

While the idea of generating risk-free wealth through an all-powerful trading bot is highly alluring, the unfortunate reality is that platforms like Altex Momentum present too many red flags to be considered trustworthy or legitimate based on current evidence. Until its owners subject themselves and results to full public auditing, the immense balance of probability is that Altex Momentum is yet another cryptocurrency scam. Traders would be best served avoiding it entirely and using proven manual strategies on quality exchanges instead. Further research is still warranted, but signs point overwhelmingly to treating this as a fraudulent system. Caution is critical in the wild crypto markets.