The use of trading robots can be of great help to any crypto investor, whether they are a layman or a pro. Naturally, given the convenience factor associated with these trading robots, people tend to choose them quite often, to begin their trading activities . But are trading robots legal?
Today we are going to explore the legality of crypto trading robots so you can make sure you are always on the right side of the law. The crypto space isn’t entirely clear on the laws and regulations on most things anyway, so it’s best to make sure that what you’re doing won’t get you into trouble. But first, a quick recap:
What is a trading robot?
Trading robots are hinged on using software to communicate with cryptocurrency exchanges through a request processing interface or API.
Based on the indicators you want your bot to track, your trading bot will study the spread between exchanges, changes in cryptocurrency prices , changes in important statistics such as crypto volume.
Now the market is flooded with a large number of trading robots, so whether yours works well enough or not will depend on whether you have a good trading robot chosen for yourself and entered the correct indicators.
Legality of crypto trading robots
Trading robots are commonly used in both traditional stock markets as well as the crypto trading scene. In the traditional financial system, it so happens that the stock market has a more elaborate regime of legality involved. There, certain restrictions exist as to who can use the trading robots and how.
However, in the cryptocurrency market, such restrictions do not exist and one can easily work with a trading robot of their choice to complete their own due diligence, analysis and investment decisions.
There are many different crypto trading robots to choose from and as long as you choose a smart one that meets your needs as well as your budget, you are good to go.
Your trading bot is like a pilot, but that doesn’t mean you can give it freedom. You always remain responsible for your robot’s business practices.
Therefore, the legality of the sale of trading robot is not governed by a legislative prohibition, but you must keep in mind that your use depends only on you and this implies that to have control over your bot it is it is preferable that the program be coded semi-automatically, which will allow you to have control over all the transactions.
Warning
Automated investing with Orkke involves risks, including possible loss of capital. The value of the assets in your portfolio can fluctuate according to economic, political or social events that have stock market repercussions . An investor considering Orkke should be able to tolerate potentially large price fluctuations as the currency market exhibits high volatility. Nothing contained in this disclaimer should be taken as a suggestion to take or refrain from any action relating to investing in the financial markets .. Past performance does not guarantee future results. Before investing, assess your financial condition and level of experience, and only invest capital that you can afford to lose. Please ensure that you fully understand the risks involved and if necessary seek independent advice before initiating any transactions. Speculating on leveraged foreign exchange markets (cfd trading) involves risks that you should be aware of.
