CarinaBot review

By   |   Verified by Bill Ryan Natividad   |   Updated Feb. 17, 2023


CarinaBot is a revolutionary auto-trading software that allows users to automatically trade on their trading account without constantly monitoring the markets. It uses inner pre-programmed triangular-modeling algorithms to analyze the market, predict future price movements, and automatically trade on their account when a profitable opportunity occurs. The software is fully automated, making it suitable for beginners and experienced traders.

This review will discuss everything you need to know about CarinaBot, including its features, fees, supported exchanges, pros and cons, and whether it is worth investing in.

Who owns and operates CarinaBot?

CarinaBot is owned and operated by a team of traders with over 11 years of experience in forex trading, headed by Damien Reaver. They have created CarinaBot for their trading, and it is now available for others to use. The team charges only a 10% profit fee, making it a fair deal for users.

Is CarinaBot safe?

One of the most common concerns for traders is the safety of their funds. With CarinaBot, there is no need to worry, as the software cannot access your money. Your funds are stored in your trading account at the broker, and CarinaBot trades on your behalf with orders executed via an API integration with the broker. At no point does CarinaBot have custody of your funds.

Furthermore, CarinaBot is limited to send buy/sell orders and cannot make any external withdrawals or internal transfers.

How does CarinaBot work?

CarinaBot uses inner pre-programmed triangular-modeling algorithms to predict future price movements for EUR/USD, the currency pair it has been designed to trade.

It continuously analyses the market and waits for a specific opportunity, a deviation between the current and derived prices, which has a high mathematical probability. CarinaBot automatically trades on your account when a profitable opportunity occurs by opening a relevant buy or sell trade.

Profits generated from trading remain in your account and can be used to trade with in the future, compounding equity growth.

Unlike other forex trading bots that run on a remote server, CarinaBot runs locally on your own computer. It can be installed for Windows, macOS, and Linux, with Java being required. Once installed, you'll need to get an API token from Torobaase — the brokerage they work with — and configure CarinaBot with it to begin making trades.

Target users

CarinaBot is aimed at both beginners and experienced traders.

  • For beginners, there is no need for previous experience or knowledge, as the software does all the work for you.
  • For experienced traders, CarinaBot can help increase profits and save time. Portfolio managers can also use CarinaBot to provide professional trading services to their clients and take a fee from their profits.

Fees and charges

CarinaBot's pricing is transparent. It is ideal if you are new to bot trading or just want to test the waters.

  • Free for the first three months. You can trial a full-featured version of the bot for three months for free.
  • After the free trial. If you are happy with the bot's performance, you can continue using it, with CarinaBot taking a 10% cut of profits.

A 10% management fee is favorable compared to PAMM accounts, which often have 20-30% or higher management fees. Other forex bots are available for an up-front fee with no ongoing management fees.

Supported exchanges

CarinaBot is only compatible with brokers that offer Open API/RESTful API trading technology. The list of supported exchanges depends on the brokers offering this technology. As more brokers adopt the latest technology standards, the list of supported exchanges where CarinaBot can operate will likely expand.

However, CarinaBot requires high leverage for its trading, so not all brokers offering Open API/RESTful API trading technology meet its requirements. Currently, CarinaBot works with Torobase, with additional exchanges coming soon.

Notable features

CarinaBot has several standout features to take note of.

  • Fully automated trading. Once the bot has been set up, it trades for you.
  • No need to pay for a VPS. It's easy to set up. Since it runs locally, you don't have to incur the cost of a server.
  • Maintain custody of your own funds. CarinaBot can only execute buy/sell orders and has no privileges to withdraw or transfer funds.
  • Pre-programmed triangular-modeling algorithms. These are designed to predict future price movements.
  • Easy to use, but powerful. The software is also suitable for both beginners and experienced traders.

Pros and cons


  • Fully automated trading. Trades the market while you sleep.
  • No access to users' funds. You keep full custody of funds in your account.
  • Suitable for beginners and experienced traders.
  • Fair pricing model. No up-front payment to buy the bot.
  • Low management fee. CarinaBot's fee is 10% of profits.


  • Limited exchange support. But additional brokers are coming online.
  • Java installation is required. If you don't have Java already, it's free to install.


While CarinaBot is a great option for those who want a fully automated trading robot, there are alternatives in the market:

  • Forex Fury. Choose from trading EUR/USD or one of several other currency pairs. One-off purchase. No ongoing management fee. Verified results on MyFXBook.
  • Vertex Stag. Must be installed on a VPS. One-off purchase. No ongoing management fee. Verified results on MyFXBook.

Is it worth it?

Overall, CarinaBot is a great option for both beginner and experienced traders who want to automate their trading and increase their profits. Its easy-to-use interface, automated trading strategy, and fair pricing model make it a particularly attractive proposition for those who are new to trading forex and anyone looking to make passive income from trading forex.