Ethereum Code Review

The Ethereum Code - Trading Platform Hack or Scam?

Here you can see the original Ethereum Code Site

The video below..


Is quite long and full of interviews with various people that do not disclose their identities. It does explain though, that the narrator was trading ForEx & binary options online based on the cryptocurrency markets. 

The narrator also states that they were making around $2000 per day.

Now this is entirely possible if you are optioning on the price of Bitcoin and doing well. You just need to be extremely lucky.

What the video goes on to explain is that the volatility of Bitcoin as a currency was hurting their strategy and so they switched to optioning on Ethereum. 

Now this is completely untrue. In the last few days Ethereum has been the more volatile and has not risen as much in price as Bitcoin. Ethereum is also a lower volume trading commodity than Bitcoin by orders of magnitude.

They go on to say that they programmed an algorithm based upon their trading strategy and used this with Ethereum. 

Any trading algorithm that works with Ethereum would work with Bitcoin. If you are spread betting on Bitcoin you await a drop, choose to spread bet long for a certain period - a week maybe - and then hope your numbers hold out. You might also await a good period and short for eight hours, say, as that seems to be the way the market works at present.

All of this would be a fairly simple algorithm. But the simple truth is, that following this algorithm would only take a few minutes per day, and the personal touch alleviates all of the risk that using an algorithm brings.

In other words, what they are offering is highly speculative and possibly bank-breaking. Spread betting manually would be a far safer bet, using IG or someone else regulated in the UK.

The video goes on to say that after setting the algorithm loose they were suddenly making $25k - $50k a day. So are they saying that the bot makes a spread bet based on the next two minutes and always gets it right? The brokers would shut that down in minutes! This is a big red flag warning that this is a scam!

The next row gives more cause for concern:

Autopilot trading - this is the idea that you will not have to interact in any way with your MT4 or MT5 system, that the Ethereum software will do everything for you. Now if that was true then it would be haemorrhaging the brokers worldwide and they would quickly ban the software, unless it was much less reliable than we are being told. Either way auto-trading is not real to this degree. This is another red flag!

Tax Free Profits - CFDs are not tax free and you will be liable for capital gains tax and broker fees. Another red flag please!

Cloud Technology - If the algorithm they had written worked independently, then the cloud is presumably just where they log all of the results. You would need the software installed on your computer to actually action the trades through MT5. They say that there is no download required but this makes no sense.

Lightning Fast - well, electricity is lightning so this goes without saying.

The testimonials are plainly ridiculous - red flag!!!

If you click the start now button they just want contact details:


There is no sign of any auto trader bot and no sign of any Ethereum Code website except the one that forwards us to which, on Trustpilot seems to have only five star reviews by lots of people who look exactly the same!!!

Oh-oh. We have run out of RED FLAGS!!!


The brokers it connects you to are not regulated and have fake reviews on trustpilot meaning that the people who write Ethereum Code website reviews are the same scammers that operate InvestDelta dot com.