Leave a Review Stoic AI
16% Loss Over the course of a year
I threw some money into this a year ago to see how things would go. I wish that I could say it went well. After a year I ended up with a 16% loss. This doesn’t count the management fees I paid in. At one point my portfolio was worth 2.7k. Now it’s worth barely 1.7k. In all, I paid them to lose me money. I believe that there are a few reasons for this. The biggest being how it trades. From what I’ve seen, I’ve had several instances where Stoic bought in as a crypto went up, and then sold it on the downswing. That downswing would in a lot of times bounce back following normal trading patterns. I bought into a few of the currencies that Stoic invested in and HODL’d them for a few weeks to see how things went. I made money, and Stoic lost me money. Did I mention that the stoic app still thinks I only have 1.4k and is a buggy mess? This is far from production and should be avoided.Show lessSpladlesrus
Developer Response
Thanks for your honest review. The Stoic team realizes your frustration with the current drawdown, however, this has always been a part of the long-run game. Our profit mark is more than 1,600% since our launch on the real market 2 years ago. The chart has never been similar to a parabolic one, but we have been performing well with our time-proven AI. Your patience is the key here, and Stoic has never been about getting rich fast. However, this is a great out-of-the-box solution for retail customers with decent performance. In terms of your concern related to the incorrect balances, the fix has been rolled out for most of our users a while ago, but there is still something that has to be fixed, precisely for Binance US customers. We are working heads down in this field, and we appreciate your understanding.Buggy and inaccurate portfolio reporting
App frequently logs out, crashes, and doesn’t show accurate portfolio information.
I hope the quality of the app experience doesn’t reflect the attention to detail applied to the algorithmic trading but at this point only time will tell.
Only positive feedback I can provide is their 24/7 customer service available via chat.Show lessmovierenter
Will stoic connect in the future with crypto.com?
Downloaded. Do not use binance.
Will you in the future set up stoic to connect to other exchanges?WaitingforGodot6.0.1
Developer Response
Thanks for your feedback. Answering your question in terms of other CEXs - yes, definitely. The team behind Stoic is working on expanding the list of currently supported exchanges (Binance US & Binance Global). The authorized staff is proceeding with negotiations with different tier1 exchanges that can be disclosed yet. In terms of your one-star review, hopefully, you could give it a try and we won't disappoint you :)We’ll see
The support really needs more native English speakers with a background in professional support, that part is a mess right now. They don’t always realize it, but their tone is not great, and they get frustrated sometimes in a way that a professional support person wouldn’t. As long as the bot does it’s job I’m willing to forgive the glitches and everything else, but when you want us to trust you with 100k+, quality support is reassuring. I’ll update my review as time goes on.
Edit 1:
It’s pretty much every chat person. Frank and that other guy are probably the worst. While Julia and the rest just have kinda not great English.Show lessÓ_o
Developer Response
Hey! Thank you so much for your review. We are really sorry for the negative experience with our support team. Could you please send an email to kovalev@cindicator.com so I can find your support request? Sorry for the inconvenience one more time, we will be waiting for your feedback.Never going back
Ok, all good comments here convinced me to give this ago oh boy was I disappointed is under statement. I am a newbie with trading it's why I tried this in the 1st place. It's a BOT right so u wud expect it at least to be consistent, I don't care if the gain is slow & low return but at least profit is going up. BOT makes profit, Bots losses profit. How can a bot loss u profit specially over $200, u wud think it has an AI (Artificial Intelligence) for 'Stop Loss' mechanism. To my disappointment I disconnected API & tried trading myself. I made more profit in just 2 trading!! In short time! Compare to 2 months with this Mob. Support is good, I wud not say the greatest but what wud a good support do if a product doesn't deliver. Yes it made me gain but it offset the gain by making the same amount of losses. As the last user said the app is broken, ok I can check the Binance but I don't want to keep logging back in to Binance to check, it ain't professional. I paid for 10K subscription and I didn't get my money's worth. I wrote an email to Stoic support highlighting & questioning why would the bot trade for only 3 hrs, sometimes even shorter when market is good and bot wud trade over 10 hrs when market is bad. In the end I disconnected API with frustration as "reply" is a typical corporate company.Never I'd go back to Stoic. As I said I'm newbie yet I'm able to make profit over their so called bot. At least I learnt something on how bot trades which I applied to manually trade.Good on ya, if u had good experience,badluck to those in same boat as I am or perhaps I am the only one.
MyResponse:I’ve anticipated ur defensive reply,typical corporate,I couldn’t get answer then,now I left & voiced my bad experience,ur trying to justify. “Catching Moonshot” u say? Did u read my comments at all?Scroll up & re-read,i said ‘I don’t care if gain is slow etc..’rest of my remaining subscription, my gift to you.Show lessTawag2
Developer Response
In terms of stop losses, no SL orders are deployed in the current portfolio strategy, i.e. high-risk - high performance). For some time it attempts to buy at a price that is not more expensive compared to the price recognized by its AI. The same mechanics are applied with the process of selling cryptoassets - Immediate or Cancel Orders are placed (IOC). In short, these types of orders serve to buy or sell an asset that attempts to execute all or part immediately and then cancels any unfilled portion of the order. We are really frustrated to see you going, but Stoic is about a long run and cautious trading activities, not about catching any moonshot movements.Death by gas fees
To get started, you need transfer the fee in USDT to an ERC-20 address. That is an extra $24USD fee as of this writing, and could be much more. Looking forward to trying out this app when I can pay the fee over a different network.Jambrose
Developer Response
The Stoic team realizes that the current Ethereum network conditions are insane in terms of the fees. We are working on different solutions, so that it will be cheaper and faster to cover the annual management fee in the nearest future. The fact that we accept ERC20 USDT only to date is related to many topics, but mostly - the API structure. Please bear with us! 💜Stoic is a buggy mess
I had heard people raving about Stoic so I tried to set up an account. From the get go, setting up an account was nothing but problem after problem.
The app would not update the correct deposit amount that I had sitting in my Binance account. I tried resolving this issue with customer support and they responded once every 30 minutes with the most vague messages. I eventually was able to set up a new api key in hopes that this second key would update the deposit amount correctly when I was hit with an extra management fee when I had already paid the initial fee upfront.
I am here writing this review in hopes that the stoic staff sees this and actually decides to take action to actively help me figure out this situation. I can’t consciously recommend this app to others in the sorry state that this app is in. The app is made worse by the fact that customer support is nonexistent.Show lessAsianz
Developer Response
We do understand your frustration regarding this matter, however, this is a widely-reported problem for now. At the moment, our team is successively updating all internal services of the application from REST API to WebSockets to cope with the increased number of users and overcome the limitations on the number of requests from Binance. The change is not yet complete, so some components (like your portfolio assets or account information) use the REST API, which imposes significant restrictions on keeping the data up to date. In terms of the additional fees you are referring to after your API keys have been reconnected, it can be fixed within 5 minutes by reaching out to our Customer Service.App Broken?
Signed up about a week and a half ago. Definitely seeing trades in Binance, but the app says trading on my account hasn’t started yet so can only see the demo stuff. Contacted support several times and they said to just wait longer. At some point, this app needs to work. If you can’t make the app work, why would I have confidence in this thing managing my money? Right now the app is pointless and broken. Will update if this thing ever shows me something other than the demo portfolio.Show lessSevarai
Developer Response
Thanks a ton for your honest review! We are pleased to inform you that the DEMO-related bug you've been referring to has been fixed successfully now. Please check this out and feel free to contact our Support Squad in case we can help you with something 💜App not functioning?
So for me the on boarding went fairly smooth (despite having to reconnect API to binance for some reason, possibly not stoics fault). But after two weeks the app still does not reflect what is in my trading account! I can login to binance and see the trades are happening, but it doesn’t feed this info back to my app. So far the app for me has been basically useless, apart from contacting support on the in-built telecom chat service (which they are prompt to reply on, but offer basically zero solutions apart from promising upgrades and fixes)Show lessdavobradley
Developer Response
We really understand your frustration related to the current DEMO situation, however, as you have mentioned correctly - it doesn't affect your trading on Binance. The development department is working tirelessly on fixing it ASAP. Your patience is much appreciated 💜Good app but under-delivering?
The app itself is good and they’ve made efforts to improve things recently - although setting up API access to Binance could be complicated, Stoic have made it very straightforward. The speed of updating has improved too and the introduction of fixed IP addresses means you can “set and forget”.
However, the AI trading system doesn’t seem to be particularly clever. In the time I’ve invested, my portfolio has gone down in value, but if I’d have simply bought bitcoin and held it for this time, it would have increased in value. I can understand fluctuations in the market mean portfolios can lose as as well as gain, however it’s disappointing that Stoic’s strategy, that you must pay for, can’t seem to beat “hold bitcoin”.
There’s also supposed to be a weekly update on the Inbox tab but this hasn’t been updated since 13th September 2021.
I’ll hang on until the year has passed and then make a decision about whether to pay for another year based on the performance. Obviously if Stoic’s portfolio starts to shine, I’ll update this review accordingly.Show lessPaulJCG
Developer Response
It is easier to consider any investment strategy as a living entity with a huge list of variable criteria. One of the key questions to ask yourself while choosing any certain investment strategy is a suitable timeframe: for how long are you willing to lock up your funds? The Stoic's AI allows us to grow faster than the market. In case of a huge and long downtrend, the strategy will appropriately rebalance its positions to prepare for the eventual comeback. The time it takes to recover a drawdown should also be considered when assessing drawdowns and the Stoic's results are quite impressive in this field! We are working heads down to implement short positions and to lower drawdowns during rainy days on the market. Your support is much appreciated!
