Is this really auto-trading for Bitcoin and crypto currencies?
Now at: https://www.bitcointrader.site/ and https://www.bitcoin-pw.com/
The Bitcoin trader purports to be able to return huge profit from a single investment of $250. This is a claim we have seen before, and often has turned out to be false. Let us see what's what when we look through their website.
The first message we see is:
EXCLUSIVE OFFERS FOR YOU FOR TODAY ONLY. REGISTER FOR YOUR FREE ACCOUNT
This seems like a strange message as it has not changed since yesterday. This is a bad sign. In the finance game, dotting every 'i' and crossing every 't' is what matters, so you do not make spurious comments that can have you wind up in court without thinking things through. This is a big red flag!
Next we see that various people are allegedly making money all of the time. Now this is odd too as an account holders balance and profits are private information and that account holder is unlikely to give permission to have their photo, name and latest deal results plastered over the front of a website. This is an extremely large red flag!
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The next part of the website is just a standard video with some snippets of entrepreneurs saying a few sentences including the word 'Bitcoin'
Then they have a form to fill in where they ask for your name, email and phone number. Now this contact form depends on the following conditions:
Profitoro Ltd reserves the right not to provide you with any Services with or without notice in its sole discretion, whether it becomes aware of any violation to the Users Undertakings and Warranties (either by reports provided to it by other Users or any other means) by you or any other User, or for any other reason. Without derogating from the above, the Company expressly disclaims, and you expressly release the Company from, any and all liability whatsoever for any controversies, claims, suits, injuries, loss, harm and/or damages arising from and/or in any way related to: (i) any inaccuracy, untimeliness or incompleteness of a User’s or Third Party’s representations; and (ii) misstatements and/or misrepresentations made, either in connection with or by any of the Third Parties or other Users, Products or otherwise. By using the Website and Services you understand and agree that the Services merely offer a platform designated to assist Users to reach, purchase and/or use various products and services provided by third party vendors and/or services providers, through the ads or promotions run by us (respectively, the “Products” and the “Third Parties“, respectively).
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So what this company is declaring is along the following lines:
We reserve the right not to provide any services or products.
We are an advertising company and just connect you to other services.
We take no responsibility for any services or products they provide, whether or not they in any way resemble what we have described.
Now whether or not this is actually legal - to advertise something that doesn't exist in order to get people to sign up for something else - it does seem that we have reached a strange period in our time, that if I hide a note on a separate page explaining that I am about to rip people off, that somehow makes it OK. This is a red flag too big for any known pole!
Moving down the page we see the message:
TRADE THE BTC PRICE SWINGS LIKE A PRO USING OUR AI-DRIVEN AUTO-TRADING MACHINE
But this statement makes no sense. How can you trade BTC with nothing to trade it with? Buying and selling BTC is a slow process that requires a lot of security in most cases, and the processing time of transaction on BTC is too slow for an AI to easily predict anything with as anything could happen whilst the last transaction is completing. Are you selling high and buying lower? Well how would that work as the price may vary to some extent but buying and selling is too slow to allow successful profiteering in this way. This is another big red flag!
The requirements section states:
You only need to be in a country that supports CFDs trading and have at least $250 in trading capital.
Meaning that the product offered is actually CFD trading upon ForEx (probably not crypto either) using MT4 or perhaps MT5 software, that may allow you to speculate on crypto. MT4 does not.
So this website is a complete lie from beginning to end, there is no crypto trading, it is just CFD option trading which is so dodgy that the American and Canadian governments have outlawed even the soliciting of it to their citizens.
VERDICT: BITCOIN TRADER IS A: SCAM!!!
Do not send them any of your money.
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Here is their website text...