Is CryptoMarketGroup CMG Pro Suite A Scam?

Uploading exchange API keys to a 3rd party? Never a good idea without doing some background research. This blog post outlines my experiment and findings using the Crypto Market Group CMG Pro Suite.

I first heard about CMG from a research paper that was sent to me by a colleague. Intrigued I went to the website and read more about what the company does and how they are qualified to do research on blockchain projects.

Crypto Market Group @ https://cryptomarketgroup.com

The Pro Suite promises to save money on order execution by beating the algo bots. Ironically the way they do this is by selling what is essentially an algo bot of their own.

I used a second Binance account to test with as it requires API keys to interact with the exchange. Nothing particularly strange there as it’s the only way for a 3rd party app to connect and place orders. I setup an API key with just trading access so no funds could be withdrawn using the API keys. There’s still some risk because if the keys were hacked then someone could potentially use them to trade a pump and dump. However the site seemed professional and reading between the lines it seems like they are more focused on the money grab from the monthly subscriptions to their Pro Suite services.

The costs range between $17 and $197 for the paid versions of the software, billed monthly. One strange thing is that I needed to upload payment in Bitcoin or Ethereum and it went into my account in USDT. I basically had a USDT wallet on the site which was where the monthly subscription is billed to.

The software takes a bit of getting used to and it’s worth reading the docs because it can be a bit daunting to start with. Once you click the advanced settings button you can’t turn it off without resetting the whole order form.

The few orders that I’ve placed so far I’ve used the default aggression setting. This seems to work well by following the market prices and saving a small percentage on each trade.

Whether it pays for itself I don’t know. Probably if you are trading a lot or have a fairly decent portfolio then it would. I used this on a second account just to do a few isolated margin trades. Some I won, some I lost and ultimately I ended up a bit down on what I originally deposited to the account.

I’m going to keep using the Pro Suite for another few months and see if I can use it along with their research tips to grow the account to a decent amount.

Conclusion

Crypto Market Group is not a scam. The CMG Pro Suite is a decent piece of software that works well and makes trading a bit easier and more enjoyable. It didn’t make me a great trader overnight but it does help get the best buy and sell prices.

If you liked this review please leave a comment below and check out my other work.

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