So many false promises. They deduct everything in FIAT and give you in PLU. It is however always a problem to spend PLU. 10 euro gift card? Pay 1 PLU and 7-8 euro commission. Convert PLU to EUR? limited to 10 euro a month and with 30-50% fee. Withdraw PLU or EURO? Not possible. PLU is constantly dropping in price. And if it is very low, they will increase the amount of PLU you need to have for a certain cashback (cash = PLU, not FIAT), so you drop in % or need to buy extra PLU. Wish I never started this, they are so unfair, constantly make false claims and constantly change the rules (never in your favor). And last: the 5 star reviews here are hired by Plutus to do so.
I gave it another try after promises they made after their users >90% loss. Unfortunately, after 2 months another >5% loss in total. The bot is not profitable. And I really wonder if the people on the website actually exist.
Lost almost everything on the account... Stop-loss didn't work?
FAQ was suddenly changed after this huge mistake, adding that you can lose everything, wasn't there before. What a scam.
Hope this tip is useful: Stay away!
They will copy paste their standard answer below this review 👇🏻
July 16, 2024
Unprompted review
Reply from CarinaBot
Dear Traders,
As you may have noticed, during yesterday's trading session on EUR/USD, the US Retail Sales news triggered a significant decline in the EUR/USD price chart, resulting in a rapid and substantial drop (see screenshot: https://www.carinabot.com/screenshots/screenshot2.jpg). Unfortunately, Carina executed a series of four trades, two of which resulted in significant losses.
We have been investigating the causes of these trades and are working on modifying Carina's trading algorithms to prevent such occurrences in the future.
Historically, many traders have requested that we adjust Carina's risk strategy and increase the risk of the bot to increase the potential profits. We regularly update our bot, impacting its trading strategy, decision-making algorithms, and overall performance. Most recently, on July 14, Carina VPS was updated to version v1.7.1.
Trading often involves an element of luck and risk, and yesterday was particularly unlucky and particularly risky due to a series of unfortunate coincidences. The sharp drop in EUR/USD led Carina to detect four separate and conflicting entry points, resulting in mixed signals about which trades to open, the number of trades, and their direction. This chaos led to unusual Carina's risk-calculations, causing leverage to escalate exponentially with each subsequent trade. Each trade was opened with increasingly larger leverage, spiraling out of control.
It's important to note that all these trades were protected by stop-loss limits. The issue was not the absence of stop-loss but the relatively large leverage used in the third and fourth trades. When these trades hit their stop-loss limits, they were closed at a loss, as the market moved against us.
What's next: We have already reverted to CarinaBot version v1.6.0. We apologize for the risky calculations that occurred during yesterday's trading session and the EUR/USD decline during the news announcements. We too have suffered losses from these trades, and we understand the disappointment this has caused among users. However, we assure you that we continuously strive to enhance the bot's performance through updates and proper testing, although perfection is unattainable.
Moving forward, we will intensify our testing procedures before releasing updates. With the upcoming version v1.8.0, we aim to improve the bot's performance, increase profitability, and reduce risk. However, please remember that trading inherently involves significant risk. Trading with Carina, or any other robot, or manually, trading in general, always comes with a significant risk of losing the capital. Please carefully read the Risk Warning section of our Terms of Use again before deciding to continue using our robot. When you use our bot for trading, it is entirely on your own account and at your own risk. The decision to use the bot is yours alone. We are not responsible for managing your funds or the outcomes of your trades, even when those trades are made while using our bot. Trading remains solely yours, and only your responsibility.
Currently, CarinaBot version 1.6.0 should be displayed in the top-right corner of your bot (please check it). The installation of version v1.8.0 will be automatic, and it will happen in couple of following days. For details on keeping your CarinaBot updated, please refer to our FAQ (Q: How to keep my CarinaBot updated?). Please note that based on our Terms of Use we install updates without prior notice or consent. All updates have always been, and will continue to be, installed automatically without prior notice or consent.
We are committed to making Carina a better tool for trading, but it is essential to recognize the risks involved. We appreciate your understanding and support.
