What is Brexit Millionaire?
Brexit Millionaire is part of a global scam involving affiliates, affiliate networks, criminals and overseas brokers (most of whom are highly suspicious.) The scam is pretty simple, and is composed of a few simple steps.
- Invent a product so ridiculous that any seasoned trader or broker will instantly know that it is impossible
- Explain that this product can make anyone rich to the remaining audience
- Associate this product with something in the news like Bitcoin or Brexit or Elon Musk
- Tell them that time and spaces on the site are limited so they sign-up straight away.
- Get the name and phone number of the people who are still believing the story
- Steal all of their money through fake trading scams
It really is that simple.
How Does The Scam Work?
It just takes a moment to explain what all of these websites (Brexit Millionaire, Bitcoin Trader, Quantum AI) are actually trying to achieve, who operates them, and what will happen if you sign up.
Firstly they all tell you the same thing. Whether it is the Immediate Edge Scam or the Crypto Network Scam or whatever. They tell you that with a $250 deposit, you can just sit back and make millions without doing any work at all. Now, aside from the obvious problems that this would cause, I do just want to make it clear that no one with an AI intelligent enough to trade or bet on ForEx/CFDs is ever going to sell that technology to you. No one from NASA has discovered a piece of code that magically makes all of your dreams come true and no one will ever start giving it away for free.
How Did Brexit Millionaire Begin?
Brexit Millionaire is an evolution of older scams based on auto-trading robots. The original scams, such as the QProfit System and similar scams, simply asked you for $5000 or similar that you put into a robot trading interface (which was not real) that then traded on your behalf in all sorts of commodities. You watched the balance grow and so you deposited more. The balance grew and grew until one day you started to ask how to withdraw. The scammers then told you that you needed to provide a scan of your passport etc. and your driving license and proof of address. Whilst this is happening, the robot makes an error and loses a big trade, then it makes another error and before you could withdraw your funds, you lost all of your money. This was the original boiler room scam, and now it has evolved.
What is their New Scam?
The first part of the scam is the ridiculous emails and/or websites that claim incredible results under every circumstance. Here is an example:
So the basic premise of this fake news article is that a celebrity has been on a talk show and explained that it is not being famous that has made them their money, but actually an app on their phone. Anyone can use this app and it just makes money all the time. The celebrity guest then goes on to persuade one of the hosts to download the app and make a deposit and then the host makes money whilst on the show. Then, whilst all of the crew are aghast at how easy it is to make money, the central banks phone the producers and have the show shut down. That really is how stupid these fake news articles are.
What is the App?
There is no app, that is the amazing thing. There is some sort of Android app that shows the price of bitcoin and takes your registration details and forwards them to the boiler room scammer, but that's it. There is no real app! Any link on the crazy website above just takes you through to a site where they try and harvest your contact details, presumably whilst you are still reeling from this ridiculous fake news article.
What is the Point of These Websites?
As we said, the point is to get your phone number so that they can start to hit you with repeated phone calls promising wealth until you crack. Until you deposit your money and start believing their lies. Until you give in to their wilful insistence that you will make money, until you confuse their greed with your own. Until you give away all of your money. You can see the sort of promises they make in the image below.
How Do They Get Away With It?
They use the cover of overseas, unregulated CFD trading. CFD trading is a highly risky proposition for an experienced trader, and is outlawed in the US. It depends on many complex factors, but unlike spread-betting, it is not considered gambling by the tax office. This means that you can lose a great deal of money through leveraging, but that you still have to pay tax on any profits according to capital gains regulations. Now when the boiler room scammers try and attract you with these amazing trading robots, they are no longer showing you trading graphs of stocks and shares, but graphs of CFDs on ForEx. This means that they can easily make a case as to why you lost all of your money. You were leveraging at 1:100 (100x your stake) and so you lost your whole deposit on a bad trade. And so now with CFDs (which is not really trading at all, just betting on relative point shifting within certain markets or networks) they can literally take your money off you legally. CFDs (Contracts For Differences) involve making a contract (signing a wager) with a bookmaker to bet on the USD going up against the EUR. Now if you put $250 in, and bet 1$ against each point, and the USD drops $0.05c against the EUR then you will lose $500 and owe your bookmaker another $250. This is what CFDs are - making a short term contract that a certain outcome will occur - and you are liable for your losses to the bookmaker. There are no shares in a short term CFD as there are no dividends, and so we refuse to call it trading.
Is Brexit Millionaire Legal?
Now CFD trading and CFD trader marketing is illegal in the US because it is pretty close to licensed fraud. 80% of retail accounts spread betting on CFDs / ForEx lose money on pretty much every platform, and they lose it directly to the bookmakers (or trading houses as they call themselves) rather than winding up with low value shares that may rise again. In other words spread betters get nothing for their money if they lose. A CFD only has value for the length of the contract so you are buying something that will become worthless.
As you can imagine, a lot of people want into this, and this is the big change in all of the tactics these scammers use. Their actions are no longer provably illegal, but questionably licensed in countries like Cyprus, who are keen to do business any way they can find it. So if you are outside of the US, Canada and Israel, CFD trading is legal, and the local authorities will be hard pressed to prove anything untoward took place.
How Are Most People Tricked Into These Scams?
Well there is a huge amount of fake news in all sorts of advertising affiliates across the web. Many financial news outlets make deals with newsreel companies that then resell the space to more questionable advertisers, it is not impossible to see Brexit Millionaire ads on Facebook, Twitter, Yahoo Finance and APNews (APNews are particularly bad for finance scams, they just do not seem to care.) If you have a look at the email below, you can see that we are emailing Capital Business Media to ask them to remove a Brexit Millionaire fake review that someone has placed as an advert. Yes, that's right. They take out a whole page ad and then just write a fake review, and these alleged finance magazines print it as if it was their own.
Why Are So Many Affiliates Offering Brexit Millionaire?
Well, as this scam is such high value, it means that the affiliate market for these offshore CFD bookmaker houses is lucrative. Add to this that the more gullible the people you sign up the better, and you have a very easy path to making consistent money online. This is why they stick to their ridiculous claims about robot traders at the top of the page, and leave a sea of terms and conditions at the bottom. They want you to sign up as quickly as possible so that they can get your phone number and plague you with calls morning, noon and night. Once you are in their sights they will use any means to get you to invest everything and promise that they will take care of you. You didn't read the terms in detail, so it is all your fault.
The irony of all of this, is that people are caught by fishermen. People pretending to be prey who are actually predators. These scammer types are the ones making the money online, and they make it from our greed.
What Can I Do If I Get Scammed?
We have not seen any evidence that any recovery company has the ability to recover these funds easily. If the company is offshore, and you have already fallen victim to one of these scams, then make sure you have a really good check on any scam/trader recovery companies before handing over any more money. Most of them sell simple services at exorbitant fees as a second bit scam, we do not recommend any recovery company. Many of these companies are not actually within Australia or Europe and as such are not subject to local laws that lawyers or solicitors are trained in. Some are run by the same people out of Eastern Europe and Russia and are registered in Cyprus or the Caribbean. These companies also tend to occupy shared company address sites where the premises just sub-let their address and forward mail at a cost, having no physical affinity with the country the business is registered in. The websites too will often be protected from investigation by services such as WHOIS privacy proxies and Cloudflare masking which hides the real IP of the actual web servers. In other words, if you send these companies any money, you will never see it again.
Who is Behind Brexit Millionaire?
Something to remember is that the people who scammed you are not actually necessarily the trader/bookmaker. They operate what they claim is a legitimate business, even though they often freely admit that 80% of all retail accounts lose money. Their customers choose to use the system, so if they are up-front and honest, how is it their fault? If you choose to go after the original company that made all of the promises, you will find that the https://bitcoincode.marketis-invest.com/ domain has changed since last time and that you cannot track down where the servers really are. They have opened up the same website under yet another bitcoin auto trader related domain name and remain untraceable. For some reason Google allow them to advertise which is a surprising difficulty in all of this. (Just as a footnote on behalf of Google, we have seen that they no longer appear to support these people and no longer offer ads on Brexit Millionaire, Quantum AI or Bitcoin Loopholes/Era/Code etc. Good for them.)
How is This Allowed to Continue?
And so, finally let's get to the real issue here. Because of these CFD bookmaker/trading houses taking money from people and the affiliate charges they can offer, a plague of misinformation is now strewn across the internet. Whether the websites are from the scammers themselves or from affiliate partners, they now command enough content and links that search engines rate them well. This serves to completely corrupt the internet opinions on who is really a safe trader to deal with. In short, if it say trading robot or crypto robot, report it as a scam to Google and then run away.
Where Can I Find the Truth?
Companies like trustpilot are completely unreliable when it comes to investigating a trader of offshore CFD trader/bookmakers. The scammers employ hundreds of clone accounts to make single reviews of their companies and they even add the occasional bad review to keep things safe. Nearly every one of their reviewers has only ever made one review but have added a suspiciously professional looking photo to their profile. They remove anyone (as they can do with trustpilot, which is a concern with criminal companies) who names them as scammers and keep a 4.8/5 star average, which is pretty ridiculous for a company that state at the bottom of their pages that 80% of their retail accounts lose money.
And this is why we have to post to these pages. To hope that the search engines will start recognising real reviews instead of the nonsense spread across the internet by these CFD zombies.
What Should People Do Instead?
Now a good thing to do today if you are in financial difficulty, is to speak to a real stockbroker about investing in real shares in companies that are pioneering (not too far ahead of the market, but burgeoning) information tech and remote communications and automation. These markets may grow and they are a relatively safe bet compared to CFDs. It is not like winning the lottery, but it can be a safe and growing investment that gives you a share of something tangible. Your local stockbroker (pick one with an office you can visit) should know the best options in your current position.
You can see a proper download of the Brexit Millionaire Scammer nonsense here.
This is the risk disclaimer statement further down their page, that protects them from legal action:
Important Note: Trading in FX and CFDs involves a high risk of loss due to the leveraged nature of the trading which might lead to the total loss of your capital and which might not be appropriate for all types of investors. Please read our full risk warning and the relevant broker you will be registered with to ensure that you understand the risks involved prior to proceeding, taking into consideration your relevant experience. Seek independent advice if necessary. The information contained in this website and disclosure documents is of a general nature only, and does not take into account your personal circumstances, financial situation or needs. You should consider the brokerage Client Agreement carefully, and seek independent advice before deciding whether trading in such products is suitable for you.
Is There a Better Alternative?
Most financial advisors would recommend taking a look at learning to spread bet rather than to be taken in by CFD traders as CFDs are very difficult to trade and also incur extra taxes. Spread betting also involves betting on outcomes and predictions, but with some experience of the markets it can make a decent living. Never bet what you cannot afford to lose and keep your eyes on the financial news. Keep an eye on trends - when physical movement is restricted Amazon & Apple will go up. When movement increaases then Tesla will probably go up. Do not start to bet early or late in a trend but join in when the market is starting to respond and prices are more predictable. Spread betting is gambling and so there is no capital gains tax and no income tax to pay. Make sure you understand the points system before you try any bet and always trial with a demo account first on IG or another big company.
These scams are currently at: https://brexit-millionaireweb.com/ via http://rextarct.online/brexitmillionaire/ and https://en.brexitsmillionairs.com/ https://brexitmillionaire.co.uk/ https://brexitmillionaireco.com/ and https://brexitmillionairenet.com/ may still be active with the correct affiliate link.
Adverts are now pointing here: https://themvigroup.com/?keyword=brexit%20millionaire
You can see the lies in full swing here. This interface does not exist, anyone can see that it is just a thrown together website app with nowhere near enough options to constitute a real trading application. The idea that you just press a button and anyone wins is exactly how they are defrauding people and you can see here they have actually dared make a video pretending that it is real. The voiceover is the same scammer scumbag as does the Brexit Millionaire advertising campaign video, but we have no idea if he is an actor or someone involved.
No fees are charged for any of the trades, no mention is made as to which brokerage is being used, and they appear to trade ForEx pairs in some sort of binary trading transaction, but it is unclear what the fake system is supposed to be doing at any point. The whole video is nonsense.