Crypto Code

Crypto Code    

Crypto Code

Well there is a new cryptocurrency based broker advertising campaign online. The important thing to remember with these campaigns is that MT4 and MT5 traders do not directly trade cryptocurrency on your behalf. MT5 brokers can sell you Contract for Differences based upon future market predictions concerning crypto.

So bearing this in mind, let's have a look at these sites, Crypto Code:

OK so the video is a standard offering with little or no relevance to the product they are offering, which we are assuming is CFD trading as the bottom of one of the websites carries the text: 

Important Risk Note: Trading can generate notable benefits; however, it also involves a risk of partial/full funds loss, and should be considered by initial investors. Around 70 percent of the investors will lose money.

So this is not a failsafe crypto currency trading robot, it is at best, a very dodgy deal. But even that is unlikely to be the whole truth.

Before we get to that though, let's see what they are actually promising with these advertising campaigns.

 Earn $15,000 in 24 Hours

This is a pretty audacious claim, especially considering that they are asking for an investment of $250 USD. So they are offering a 5900% increase in 24 hours. Now this is obvious nonsense as, it were true then you could put $25m in and have $1.5bn in 24 hours which would certainly start to ruffle a few feathers amongst the rich.

None of the websites really explain how it works, only that it is AI and that it auto-trades the cryptocurrency for you. Now if this was really possible, then you could make a very serious profit from the volatility of the crypto market, but the AI robot wold just have to get it right. None of this fits in with the '70% of traders will lose money' risk disclaimer that was attached to the footnotes of these websites.

Moving on: Crypto trading is equipped to function a little differently than other forms of trading activity. The reason for this is primarily because of the extremely volatile nature of cryptocurrencies. This volatile nature means that it’s exceptionally challenging to predict the price of any cryptocurrency at any given point throughout the day. For this reason, your primary goal when participating in crypto trading is to purchase these assets when the value is low and sell it when it’s at a higher value.

So just to reiterate, an MT4/5 broker does not buy and sell crypto on your behalf, but will sell you Contracts for Differences or CFDs based on future predictions of the prices. You can immediately see how dangerous this would be in light of the volatility they mention.

The repeated reference to Derrick Simmons as the perpetrator of this magical code on multiple sites also gives away that this is a scam. There is no mention of him online except on sites warning people of scammers.


Do not send your details to these scammers!

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