ProfitFarmers Review: Trading Made Easy – Better than eToro’s Copy-Trading?
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Let’s be real for a second… Trading profitably (and consistently) is pretty damn difficult.
It WOULD be easy if you or I had 10+ years of experience. But we don’t. I’m sure neither of us want to endlessly stare into price charts trying to figure it all out either…
Wouldn’t it be nice to make pro-level trades (and profits!) without having to spend years learning how? – Actually, that might just be possible!
Before you lose all hope, have a look at this:
Those gains sure look nice, right? Imagine if you had made those trades with €1,000 each… They’re from a system that produces ‘trading signals’ (trade recommendations for specific coin pairs).
Apparently, you and I could’ve made those exact trades with “just a few clicks of a button”. They say their system “automates your trades from entry to exit” by connecting with Binance.
What do you think? Is it possible for a system to just feed you trading signals, follow them in a couple clicks, and check back in the next day to see profits inside your Binance wallet?
Well, there’s no need to wonder. Read on to get my critical review of ProfitFarmers! Let’s see if this is really a way to make easier, more profitable trades.
So who is ProfitFarmers?
They’re a team that claims their mission is to “Bring the chance for hassle-free, profitable trading to everyone, no matter your experience.”
Seems pretty ambitious!
ProfitFarmers is registered in the European Union – A good stamp of approval for their legitimacy. They COULD have registered in a tax-haven country like many other cryptocurrency-related softwares do. But no, ProfitFarmers chose not to.
The Founder is a guy named Matthew Tansley. On their About us page, he says that there was too much nonsense going on in the crypto-space. That there wasn’t anyone who was actually using technology to make trading less of a headache…
Frankly, I’m impressed that he’s put his face on the ProfitFarmers brand. There’s a LOT of risk involved with doing that! If it turns out that they’re lying or faking something, it would all fall on his head. I guess Mr. Tansley has nothing to hide from 😉
They started in November 2018, mapping out what makes trading difficult for people like you and I. Fast forward to today and their system is fully functioning with features that ‘solve’ these problems:
ProfitFarmers + Binance = Transparency & Security
All trades take place directly on the Binance exchange, separate from ProfitFarmers. This keeps YOU in full control of your money, as profits go directly into your wallet every time.
By design, it’s impossible for ProfitFarmers to charge you commissions or fees. It also keeps their system transparent and honest, since it’s impossible to fake results within your Binance wallet.
Following trading signals can be automated through their API integration with Binance, but this strictly doesn’t give them the ability to withdraw/transfer your funds.
Is my money at risk from ProfitFarmers API integration with Binance?
Quick answer: No.
API stands for application programming interface, which is a type of software intermediary that allows two programs (like ProfitFarmers and Binance) to talk to each other.
ProfitFarmers communicates with Binance to track data such as coin prices, view wallet balances and create trade orders on your behalf. This doesn’t give ProfitFarmers access to your secret keys or any ability to withdraw/transfer your funds to another wallet.
While using ProfitFarmers, you make your trades with the same safety and security provided by the world’s largest cryptocurrency exchange.
How do I know if this will benefit me?
It’s good to question whether something will be helpful or not. Especially when money is involved. In this case, there’s no need to ‘risk’ using ProfitFarmers without fully understanding how they can help you.
Because they’ve made their whole series of help and tutorial videos publicly available on YouTube. Anyone can watch it before they sign up to understand exactly what they do and how you use it. I always prefer to know exactly what I’m getting into. Don’t you?
What does ProfitFarmers do?
Well, straight from the horse’s mouth:
ProfitFarmer’s suggests, plans, and executes profitable trading plans automatically, so you can actually make profits WITHOUT needing decades of experience. No stress. No late night alarms. No human error.
And what does that actually mean?
It’s similar to copy-trading. Except instead of copying people, you’re copying expert-level trade signals with a whopping 76% historical win-rate. (I’ll discuss the stats further down.)
Their algorithm produces these ‘trading signals’ 24/7. There’s no need to spend hours looking at what to trade. There’s no need to wait on a human to copy their actions, either!
After you select a signal, ProfitFarmers tracks prices to take action through Binance (from entry to exit). You can just set it and forget it! No more freaking out about price movements at 2am…
This also includes a built-in stop loss that automatically exits your trade if prices start going in the wrong direction. Pretty good for helping you practice risk management without the headache!
Anything else besides Automated Signal Copy-Trading?
Yes, surprisingly. If you want to look for even more trading opportunities, ProfitFarmers has got what you need! They have a Price Action Scanner, RSI Scanner and their own trading terminal built right into their system.
Instead of telling you what I think is going on, I figured it’s best to show you the stats that are coming directly out of their system:
Think about this; for every 4 trade signals followed, 3 of them would have made a profit.
I’m definitely not as consistently profitable as that while trading on my own!
Are their results real?
There are MANY tools that are being misleading with their win-rates and gains (think: trading bots that promise +90% win-rates…) How do we know if ProfitFarmers’ stats are real?
Here are 5 reasons why we can believe ProfitFarmers’ results:
Their trading signals are copied through the Binance exchange. It’s impossible to ‘fake’ an increased Binance wallet balance!
They’re actually honest about what their results mean. Many trading tools throw around random numbers to confuse us into thinking they’ll work well. ProfitFarmers has an article that explains exactly how their results and statistics are calculated. No Nonsense. Total transparency.
I’ve found video testimonials of real, publicly recognised people using and making money with ProfitFarmers. Crypto companies tend to have those fake, paid reviews they can buy on places like Fiverr. I guess there’s no need for ProfitFarmers to fake their reviews since they actually provide value to their members.
There are real people from their company that stand behind these results. The majority of crypto related companies are extremely secretive, they want to hide from public view… Matthew Tansley (the founder) creates a video each week breaking down their results. Why would he risk putting his name and face on those results if they weren’t true?
They’re actively trying to educate people on how their system works. All their content is available here, even before buying a membership. I mean, why would anyone take the time to teach something if it didn’t even work in the first place!
What blows my mind is that these are results you and I could have gotten ourselves. Following a signal happens in just a couple clicks. (I’ll show you what this actually looks like next!)
Because of the stop loss, losses from using these signals are very minimal. Especially in contrast with how much and how often their signals are winning.
No more searching for what to trade. No tracking prices to enter and exit. No constant fear of sudden price movements. It’s the smart way to trade!
How does ProfitFarmers work? Step by step:
To show you how straightforward using ProfitFarmers is, I’ve gone through each step from signing up to making a first profit.
Signing up (Time to do: 5-10 minutes)
First you’ll need to become a ProfitFarmer! They have 3 membership options. I went for the 3-month package, as this gives me a month for free!
Connecting your Binance account (Time to do: 5 minutes)
To use the autotrading feature, you’ll need to connect your Binance and ProfitFarmers accounts together using an API key. Their tutorial video made this step very easy for me, even without knowing what ‘API’ actually stands for 😄.
Make sure you have BTC and USDT in your Binance wallet All coin pairs on their signals are either against USDT or BTC. You’ll need to have some amount of both before you can start copying signals. If you have one but not the other, you can easily convert from within the dashboard.
Following your first trade signal
It’s surprising how easy this is to do. Just enter the amount of money you want to use and hit confirm! While you can customise things like entry price, exit price(s) and stop loss, I left it all on the preconfigured options.
Tracking your Trades’ Progress
By clicking over to the watchlist, you’ll see all the signals that you’ve followed. Paired with push notifications, this makes it very easy to stay up to date on how your trades are performing.
Checking the Closed Trades
By clicking over to the Closed Trades view, you’ll be able to see all of the recently completed trade signals. For some reason, this includes trades you haven’t personally copied.
As you just saw, using ProfitFarmers is extremely easy. Infact, it’s so easy that I reckon someone without any trading experience could use this platform! Paired with their how-to videos, it requires basically no time to figure out how-to use it. (See what I did there? 😉)
ProfitFarmers vs. Alternative Options
Now that we’ve gone over what ProfitFarmers does and how, why don’t we see how it stacks up against some similar options?