ScamBroker.com Investigator - An Odd Name for a Trading Website Reviewer
As much as possible, we want to get an honest opinion of all of these sites, as there are so many questionable websites around. This website - scambroker.com - is a very well used and popular site that has many affiliate links to sites like ForTrade, which is quite acceptable. Everybody needs to make a living, but it does make us nervous, as scambroker.com is claiming that it is a review site, and affiliate links are not a sign of evenhandedness, they are a sign of bias.
Quite simply, if I was to write a review of all of the online brokers, Google will recognise my site as a good source of information and rank me highly in any ForEX trader or Cryptocurrency trader search. If users have a high engagement with me - i.e. they check a few pages and spend time on my site, then Google will decide that my site is relevant and I will become a go to site for trading related queries on Google search, fair enough. But if I write 700 reviews that say nothing except irrelevant details like:
Bitcoin Billionaire Review:
When we signed up for the trading app, we were automatically redirected to a Crypto CFD brokers deposit page, asking us to deposit money into a brokerage account. We had no ability to see the actual trading app, how it works or what it does.
Now this review is of a website that promises to make you a billionaire using a trading robot software. If I had a trading robot that made money most of the time, why would I sell it? I would just await world domination whilst my robot took over the Dow Jones and NASDAQ. This is not a broker review, it is a review of a website that lies to get you to sign up for CFD (Contracts for Difference) trading which is also known as spread-betting. Spread betting is a very dangerous business and should only be undertaken by experienced traders. CFDs have nothing to do with Cryptocurrency or Bitcoin. This is never mentioned when it is the most important thing for any new trader to understand. STAY AWAY FROM CFDs if you don't even realise what they are. They are highly volatile and can be highly addictive to trade as the risk is so high.
If we look at the ScamBroker.com website they seem to condone ForTrade the most, but if you look at the advert, it states quite clearly that over 85% of retail CFD accounts lose money, even though it is regulated by the Financial Conduct Authority.
This is a fundamental truth that is never addressed on this 'review' site. ScamBroker.com is taking affiliate bonuses by leading you to a website that they know you will almost certainly lose your money on, and it is in writing on their site. Avoid scambroker.com investigators advice as they are not interested in anything but their affiliate payouts.
If your trader has an 0203 number then be aware of this article: https://www.lovemoney.com/news/28892/0203-code-phone-number-scam-cost-who-owns-this
Although there are legitimate companies using 0203 numbers, they do not represent a real phone number. Ask your trader for their actual phone number with the correct code so that you can verify where they are. If they are using an 0203 number with Voice Over Internet Protocol technology they could easily be in Cyprus, The British Virgin Islands, or St Vincents and the Grenadines. A proper licensed broker is one confident enough to have a limited company or partnership in the UK as a licensed broker. This means an 0207 or 0121 number or similar. If they cannot provide you with a traceable number, then go elsewhere.
One of the menu option on scambroker.com is for Free Signals and if you do a search for what they are, you are immediately confronted by a wealth of paid ads, even on Ecosia:
So this is a thing, but what is it? ForEx is Foreign Exchange which sounds like CFDs on foreign currency and foreign commodities.
No new trader should be investigating CFDs, so why doesn't scambroker.com explain this ns massive text at the top of the page? Well because all of the links to CFD trader sites on scambroker.com are affiliate links, and this is how they make their money, by directing novices to lose all of their money. This kind of behaviour accounts for why some of these traders are not even real, they just keep the money and don't invest it anywhere, because they have a pipeline of novices searching on biased review sites like scambroker.com that never explain the actual truth.
DO NOT TRADE CFDs UNLESS YOU ARE AN EXPERIENCED OR PROFESSIONAL TRADER.
Over 85% of non-professional traders lose all their money!!!! Many of the CFD traders just keep your deposit as they are off shore and cannot be penalised!
CFDs are highly volatile and if you actually place money on them you can lose all of your deposit funds rather than just what you have placed on a particular trade as you are liable for the commodity or currency moving too far in the wrong direction. That is why it is called spread betting - you are betting on the spread and are liable to pay for your bet in full. If the trader is offshore they may delay your withdrawal or payment or even just refuse to pay. No one can stop them if they are registered in your country and have employees there to be held accountable.
ScamBroker.com are even an affiliate of the recovery companies that get a portion of your money back for a cost, as we can see here: https://www.wealthrecoveryexpert.com/free-consultation/?utm_source=ScamBroker&utm_medium=link&utm_campaign=scambroker_affiliate which may even be a partner of the scam companies to 'get rid of' the most determined people they have scammed but keep a percentage.
Now onto crypto trading - this is another dangerous area. Crypto trading is best done through buying cryptocurrency but you have long missed the boat. If Bill Gates says buy then run.
Let us look at some scambroker.com text:
When we tried to find a Forex trading robot that works, it is safe to say that 99% do not work. Most of them are simply “Get Rich Quick Scams”, advertised via Fake News articles
A trading robot that makes money is impossible. Not technically impossible, just impossible that they are offering to lend you one, as they would just use it to buy the world if they had one. An artificially intelligent trader robot might work for a while if it could interpret some type of news feed and predict market trends, but CFDs are so volatile that an understanding of pattern is probably only possible mathematically and that could go very wrong very fast. If you had a perfect AI trading bot then you could just bankrupt any country with a stock exchange and then start your own and rule the world, so if anyone had one (CIA/FSB/NRO) they would have just used it against the rest of the world by now. Scambroker.com surely must realise this, so why don't they say. It is not 99% it is 100% and that goes for all get rich quick scams.