- October 27, 2018
- Posted by: Michael
- Category: Untrusted brokers/systems
There are not many trading systems you could trust. Is CryptoTrader anyhow different? See results of our inspection.
The whole idea of CryptoTrader is to offer an advanced trading system that will make you a millionaire. But the only one who might become a millionaire is the creator of this scam.
What does CryptoTrader promise?
They promise a “free” system that won’t cost you a penny. Crypto-trader.co assure visitors that anyone can earn 5000$ per day without any prior experience with trading. As a proof that really anyone can earn with this system, you are provided with an Excel spreadsheet with some random people. But is that really a proof? I can write in excel my name, my country and that I make 10 million dollars per day, but would you believe me? Probably not and you shouldn’t!
CryptoTrader – How do they make you believe that it is for anyone
In order to make you believe that Crypto trader works for anyone, they will tell you that they have provided this system with great success to 43 random people from different countries and backgrounds. And because it is a deception that targets especially inexperienced people who can be more easily scammed, they will also tell you that none of them had any experience with trading whatsoever. They just followed instructions from 5 minutes long video and that’s it. Or at least that is what the video claims. But how do they trade? Where do we have a real proof of their trades? And not just screenshots which are super easy to adjust in Photoshop (which they do not even provide), but real examples of real live trading. Nowhere, because this scam is as real as the evidence they provide.
Why people fall for CryptoTrader scam so easily?
I understand why this particular trading system is able to lure inexperienced traders to deposit money. The introduction video is very sophisticated, no wonder when they have paid actors in it (yes, even the “truthful” testimonials are made by actors). But a person with knowledge who knows how all these scams work will swiftly see through it. First of all, they promise almost unreal results, 5k dollars per day with 90% success rate. Common you can’t fall for that. Second, of all, you are allowed to trade only with unregulated broker Stern Options, which does not have exactly a great reputation. Even the regulatory body FCA warns against this company. And third, of all, they do not even mention upon what the signals are based on. On technical analysis? On fundamental analysis? Or are they just random? Because from the point where I am standing I think the last option is the most likely one.
Do you remember the people to whom David Richmond provided this sophisticated software for free? He claimed that he didn’t know any single one of them. And I can trust him what that piece of information. Because if you have a look on the internet you will find that all the pictures of the people are download from the internet. Specifically from shutterstock.com. The system doesn’t look so trustworthy anymore, does it?
Crypto-trader.co – Do not fall for this scam
As you can see above, our detailed inspection came to a conclusion that CryptoTrader is just another scam. Therefore we strongly advise you not to even try it. If you want to make money on binary options you will have to do it the only way it works – the old fashion way. That means learning yourself. In order to get you on this path, check out our website. Try free demo account. And stay tuned for every new post we publish.