What is 1K Daily Profit and what can I do with it?
1K Daily Profit is an automated trading robot that facilitates automatic execution of trades in cryptocurrency and forex markets. It uses a trading software which uses algorithms to scan market conditions and pick winning trades by performing fundamental and technical analysis. Upon calculating, the robot automatically places and executes the trade without any intervention of the trader.
Furthermore, 1K Daily Profit also offers the manual trading option in forex and cryptocurrency assets for expert traders. A trader can manually define parameters for entry or exit of a trade in a particular asset. The robot monitors the markets round the clock and will automatically execute the trader’s order as soon as predefined conditions are met.
Is 1K Daily Profit legit?
While 1K Daily Profit does facilitate autotrading, most of the claims made on its website are hard to believe. Statements that the robot has an accuracy rate of 99.8% are impossible to verify (and very unlikely), and 1K Daily Profit’s founder’s claim that investors like Warren Buffet use the software is completely false.
Moreover, 1K Daily Profit’s website offers unverified claims of daily profits of $1000 and above. Nothing comes for free in this world, and so be very wary of any service that promises to make huge returns without you needing to put any effort in.
Experienced traders can use 1K Daily Profit’s manual settings to program trades to be executed automatically. This can be useful as part of a trading strategy and allows you more control over your funds than simply handing them over to the robot.
How does 1K Daily Profit work?
1K Daily Profit’s software is connected to a network of different brokers that offer services of trading in cryptocurrency and forex markets. The robot deciphers trading signals based on its analysis and trading algorithm. It passes these signals to the brokers through an API, and then the broker’s platform will automatically execute the specified order.
1K Daily Profit key questions, answered
Which brokers can I use with 1K Daily Profit?
1K Daily Profit partners with brokers to offer services of trading in crypto and forex assets. Some of the brokers that have partnered with the platform include 24Option and UFX.
What cryptocurrencies are supported on 1K Daily Profit?
The robot offers trading in prominent crypto-assets including:
- Bitcoin (BTC)
- Ethereum (ETH)
- Litecoin (LTC)
- Ripple (XRP)
The robot also offers to trade in forex assets. Some of the currency pairs offered on the bot’s platform include:
Can I use 1K Daily Profit on mobile and desktop?
Yes. 1K Daily Profit services can be accessed through any browsers on a desktop or laptop with an internet connection. The auto trading bot does not offer a mobile application but it is possible to access its services on a mobile browser.
Can I trade assets with leverage?
Yes. Since the brokers associated with the autotrading robot facilitate leveraged trading, a user can trade assets with leverage. 1K Daily Profit’s official website does not mention the leveraged amount that it offers, but, most of these partners allow leverage in the range of 1000:1 to users.
Please note that trading crypto or forex assets with leverage is highly risky. This is primarily because both these markets are highly volatile. With higher leverage, you stand a risk of losing your capital. Always start small and build gradually.
Can I open long and short positions with 1K Daily Profit?
Yes. 1K Daily Profit allows users with margin trading and you can take a long or short position by specifying your trade position. Additionally, the trading bot also offers binary options trading and a trader can also take positions of call or put.
In trading, a long position is when a trade is placed that the price of an asset will rise and a short position is when a trade is placed that the price of an asset will fall.
What are the payment methods and withdrawal/deposit limits?
The minimum amount of deposit required on 1K Daily Profit is $250 after which you can start autotrading. The available methods for payment include Mastercard, Visa, debit/ credit cards, Bank transfer, and SEPA transfer.
There are no limits placed on withdrawals and users can withdraw money on a daily basis as well. The withdrawals might take 24-36 hours to reflect in your bank account.
Are there any costs and fees involved?
No. According to 1K Daily Profit’s official website, there are no hidden costs involved for using services of the auto trading bot. At the same time, while the robot might not directly levy a charge on you, it might take commissions from its partners for your trades.
How do I get paid? What about payouts?
The process of withdrawals occurs through the broker’s platform where trades are placed, rather than on the robot’s platform. From the trading dashboard, you are required to submit a ‘Withdrawal Request’. There are no limits placed on your payouts. Since all the partner brokers are regulated platforms, you may be required to submit identification and address proofs while withdrawing money to your bank account.
What is the registration and verification process?
The registration process is fairly simple. In order to become a member, you are required to provide your name, email address, and contact number on the signup form. A verification link will be sent to your email address after which you are a verified member of 1K Daily Profit. Please note that in case if regulated brokers are not available in your jurisdiction, you may not be able to register on the trading robot’s platform.
It is likely you’ll need to provide more ID information when you wish to withdraw funds, but you can start trading with just your name, email address, and phone number.
What is their customer service like?
1K Daily Profit offers 24/7 customer services that you can access via different methods. Prior to registration, you can contact their customer service through a support form. Once you are a registered member, you can contact their customer service through email, live chat, and phone.
How to trade with 1K Daily Profit
1K Daily Profit has a user-friendly trading interface for opening and closing trades of different assets. The ‘Trade Now’ navigation shows a summary of your profit, balance, and winning trades. It also shows the list of open trades of all the assets. The trading settings allow you to set multiple parameters including stop loss, trade amount, daily profits, maximum daily trades, etc.
A trader can also place deposits and withdrawal requests from the trading dashboard which contains a panel of the partnered broker. 1K Daily Profit auto trading bot allows you to trade on its demo platform to familiarise yourself with trading as well as its interface.
To access the cryptocurrency bot services, here are the steps for opening an account:
- Step 1: Registration – For accessing services of 1K Daily Profit robot, you are required to register by filling a sign up form available on the right side of the home page on its official website. You are not required to submit any identification proofs at the time of registration. The process of verification requires you to approve the link sent on your mentioned email address.
- Step 2: Deposit Funds – A trader needs to deposit a minimum amount of $250 in order to avail the service of autotrading on 1K Daily Profit. Alternatively, you can use the option of demo trading available with the autotrading robot.
- Step 3: Trade – A trader can now slide the autotrading option. The robot’s algorithm starts performing analysis to obtain the potential winning trades in the market. A user can opt for the manual trading option and fill all the required criteria of a trade. The bot will automatically execute trades as per defined parameters.
Our top robot trading tips for beginners
Before investing or trading in the markets, a trader must conduct thorough research of the cryptocurrency and forex markets. The prices of assets are highly volatile and a trader may lose money with irrational decisions. Even when using a robot, you should never invest in a market you don’t understand. Here are some of the tips that a trader must consider before starting to trade using 1K Daily Profit.
- Familiarise yourself with trading. A beginner should understand and familiarise with different aspects of cryptocurrency and forex markets. A trader should also understand risk mitigation strategies to minimise the potential impact of losses in cryptocurrency or forex trades
- Understand cryptocurrency space. The cryptocurrency market schematics function differently in comparison to traditional markets. The markets are relatively nascent and also highly volatile.
- Start with a demo account. 1K Daily Profit facilitates the option of demo trading for users. This allows users to not only familiarise with trading in these markets but also gives them a chance to navigate the robot’s trading dashboard.
- Start small and build gradually. Start by investing and trading in small amounts. It is advisable to not indulge with higher leverage as it comes with its own set of risks and a trader stands to lose their entire capital if caution is not exercised.
- Only invest what you can afford to lose. You should never invest more than you can afford to lose. Starting small and building over time is the best approach to investing.
While 1K Daily Profit robot can be accessed for certain services, its official website is filled with bold and unverified claims. We could find no reason to believe these claims are true. The testimonials of people earning thousands of dollars in profits do not appear to be legitimate, and claims that influential investors and celebrities use 1K Daily Profit’s software are totally incorrect.
Beginners should treat any statements asserted by the founder of 1K Daily Profit or mentioned on the platform’s website with caution. Expert traders can access the services of this robot for manual trading which enables them to trade in 24/7 markets at their desired conditions, and all investors should conduct thorough research before investing in any trading markets.