The News Spy Review – Legit Crypto Trading Platform?

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The News Spy is a crypto trading platform that claims to “spy on the latest crypto news” to look for how subtle details can change price movements. By allowing people to stay updated with the latest information about an asset, the trading site that it helps investors make informed decisions.

And the other half of this platform is apparently an autonomous trading tool with a 70% win rate. Those are appealing sounding claims – but are they genuine? Our The News Spy review will look into the truth behind these claims to see if they are worthwhile for crypto traders of today.

The News Spy Summary

Claiming itself to be a news-based crypto trading site, The News Spy presents itself as a fully-autonomous platform providing nearly everything to all types of traders. It boasts a realistic win rate and a high level of affordability that may leave all investors wanting more.

There is a lot to unpack when it comes to The News Spy. These are the key elements of this crypto trading platform:

Type of Platform Advanced cryptocurrency trading
Minimum Deposit $250
Claimed Success Rate 70%
Supported Cryptocurrencies 65 cryptocurrencies, including ZCash, Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic, Cardano, Miota, EOS, and NEO
Mobile App Not Available
Withdrawal or Deposit Fees Free for the first 10 withdrawals of the month, then a 1% withdrawal fee
Commissions 2% Commission on all profits
Customer Service 24/7

Cryptocurrencies are unregulated. Trading with unregulated brokers will not qualify for investor protection.

What is The News Spy?

“To stay ahead of the game, you need to get informed ahead of time.” That is the core idea that The News Spy website uses as a slogan. Contrary to other autonomous trading platforms that assess the price charts to find predictable patterns to make price predictions, The News Spy reportedly takes a more news based approach.

What is The News Spy

The News Spy system is to research online and assess the news material and the social media trends surrounding a particular crypto asset. It then leverages its machine-learned mechanics to predict the direction in which the crypto asset’s price might move before executing trades on the user’s behalf.

And since the piece of news can be random – and sometimes not entirely reflective of what is actually going on the market – The News Spy reportedly has a realistic win rate of 70%. Even though it is claimed to be legit, we couldn’t verify it since accessing the platform requires a deposit of $250.

Once the deposit is made, all the features, including access to trading 65 different cryptocurrencies, become available. A demo trading account is also accessible, apparently after depositing the initial amount. Customer support is available 24/7, but only for those who have created an account.

A lot of aspects of this website are third-party reports since many of the platform’s features are only reserved for those that make an initial deposit.

Who Created The News Spy?

Information about who has actually created The News Spy is not publicly available. Some reports state that a team of crypto journalists and tech experts are behind it who trained the autonomous tool to follow the news trends and execute trades with a mix of technical analysis (TA) and fundamental analysis (TA). The identity of those developers is unknown.

The News Spy Logo

Being anonymous is not new in the crypto space. But as the demand for transparency is high, it is important to note that people require a lot more than vague answers to put their trust in a platform. Therefore, we recommend doing your own research before starting to use this platform.

The News Spy – Pros and Cons

The News Spy is similar to the other trading robots that we have covered till now. And thus, has almost the same types of pros and cons.

Pros pros

  • The News Spy claims that the platform is easy to use
  • Claims fully autonomous services that don’t require any trader to intervene
  • The site reportedly uses news materials and social media posts to predict a movement of an asset. 
  • 65 cryptocurrencies supported
  • Only asks for commission if the account generates profit
  • The site has a realistic win rate of 70% – according to the claims

Cons cons

  • Access to demo trading account and customer support is only for registered users
  • No evidence exists that verifies the win rate
  • Information about the creators is not available

Cryptocurrencies are unregulated. Trading with unregulated brokers will not qualify for investor protection.

How Does The News Spy Work?

The News Spy is supposedly a fully-autonomous trading platform, meaning that it executes trades on investors’ behalf once they have deposited the amount. As you make your initial deposit, you will likely see a control panel allowing you to set the parameters of your trades, such as take profit and stop loss orders.

After full customization, you can turn on the app and let it trade for you. According to the official website, the trading tools work round the clock to give leverage the market’s volatility to generate profits.

The News Spy also offers a demo account for those who want to try this system first to assess the win rate. But that feature is only available after you deposit the required amount – which is why it is important to do thorough research before trading.

Furthermore, while the platform doesn’t take any fee for using the facilities, it does ask for a 2% commission on every successful trade that you make.

Access to the platform through a mobile phone is available – but there is no separate app. We tried out the web app on our phones, and at least the home page with the advertisement copy was available was fully visible to us. We guess that the same can be said about the main platform, but we didn’t get to try it because of the deposit requirement.

Which Devices Can Access The News Spy?

We were able to access The News Spy through most modern devices. The site works well on desktops, and the web app is fully visible on other platforms as well, such as laptops, tablets, and Android and Apple phones.

The News Spy Supported Countries

While the website doesn’t explicitly states in which countries it is available, we were able to get some answers from the sign-up page. From what we can see from the contact information entry, we can say that The News Spy is likely available in most countries. And since it didn’t ask for any KYC requirements as we signed up, that might be true.

The News Spy Key Features

Here is the list of features that you may find when you use The News Spy:

News Updates

Since the main feature of The News Spy is predicting the price of assets based on updates, the site claims that you will have regular access to all the latest information about cryptocurrencies. Bitcoin recently recovered to the $30k level, which allowed other assets to experience strong tailwinds. Information like that may be available on The News Spy. However, since the site says that the platform is completely autonomous, the news updates are only meant to keep you updated about the market.

Autonomous Trading Tools

The News Spy states it does everything by itself. According to the website’s claims, the site leverages the latest news materials to navigate the market and execute trades on behalf of the traders.

While its difficult to verify if the platform works as described, it is similar to other existing tools such as Bitcoin News Trader.

Support For Multiple Cryptocurrencies

The News Spy claims to support 65 major cryptocurrencies, including Bitcoin, Dogecoin, Bitcoin Cash, ZCash, Dogecoin, Ethereum, Ethereum Classic, Cardano, IOTA, EOS, NEO, Dash, and more. Access to multiple assets means more chances to diversify your investments.

Educational Resources

Many third-party sites report that The News Spy is full of educational resources covering the basics and advanced info about crypto trading. That makes it suitable for first-time traders who want to try out the site for the first time.

Readers may also be interested in our feed of the latest crypto news and educational materials here at Techopedia.

Demo Trading Account

People aren’t required to start trading as soon as they deposit the amount, as The News Spy claims that there is a demo trading account available to assess the win rate. Many reviewers report that it is easy to switch between live and demo trading quickly, which makes it easier to practice using the site repeatedly unless people get to desired win rate.

Cryptocurrencies are unregulated. Trading with unregulated brokers will not qualify for investor protection.

What is the Win Rate of The News Spy?

The News Spy has a realistic win rate of 70%. It means that out of the 100 trades, you will be successful 70 times. While this win rate is not outlandish, know that the crypto market is volatile and the win rates are not guaranteed, but show a chance of making a profit. So, invest only a minimum when you are trading on The News Spy.

Is The News Spy a Scam?

Much of the information we have been able to gather about The News Spy is available on third-party websites. It is because the website itself doesn’t tell us much. We couldn’t find anything other than the basic information we have seen too many times before, which isn’t enough to warrant a recommendation from our end.

However, there have been multiple user reviews for The News Spy in Trustpilot. It averages three out of five stars based on 14 customer reviews. And the customer reactions to this site are mixed. Some are too bullish about its offerings, saying that busy people can use the platform without hesitation. And others are saying that it is one of the best platforms for autonomous trading.

But there have been many negative reviews as well, with many claiming that the site is a den of spam and incessant calls from multiple unrelated companies.

This mixed bag of reactions doesn’t give us enough to put The News Spy as spam or a legit trading platform. We suggest that our readers do their own research and test the site before making any big investments.

What is the Minimum Deposit Required on The News Spy?

To start trading on this platform, users reportedly need at least $250. All the site’s features, from trading tools to demo trading accounts, are currently locked behind this requirement, although that may be subject to change.

The News Spy Customer Support

Customer support is available, but we weren’t able to access it because it requires depositing the amount. Users report that The News Spy team can be reached through email or live chat.

How to Use The News Spy?

Below are the basic steps to start using and trading with The News Spy:

Step 1 – Create an Account

Head to The News Spy’s website and enter your name, number, and email. Traders must be 18 years of age or older.

Create an Account on The News Spy

Step 2 – Deposit the Minimum Amount

Accessing the account doesn’t mean that you will be able to access any of its features – not unless you deposit the required $250. You can use your debit card, credit card, or Ewallet to deposit that amount.

Step 3 – Start Trading

Funding will open all the functionalities of the site to you, at which point you can customize the app and let it trade on your behalf, according to The News Spy testimonials.

Is The News Spy Legit? Final Verdict

The News Spy claims to use news events and social trends to predict the price of digital assets to deliver users a sustainable ROI. The site also claims to have a demo trading account and customer support that’s available all the time.

But none of those details could be confirmed. We couldn’t find who the makers of this site are, and the customer testimonials are mixed. Our recommendation is to proceed with caution as all trading carries risk and most algorithmic trading platforms are unregulated.

Cryptocurrencies are unregulated. Trading with unregulated brokers will not qualify for investor protection.

The News Spy FAQs

What is The News Spy?

Has Elon Musk endorsed The News Spy?

Is The News Spy legit?

Patrick Jennings

Patrick is a crypto writer and a trading enthusiast. He has been in the crypto space since its inception and brings his own unique perception of the current crypto market - highlighting tools and trends that can be the next best thing in blockchain.