Beware! The Wealth Matrix is an offshore broker! Your investment may be at risk.
Don’t put all your eggs in one basket. Open trading accounts with at least two brokers.
Crypto robots such as The Wealth Matrix are plaguing the Forex trading world. Often made in the most absurd manner – their websites are quite self-serving and are all made following the same outline. In most cases all they have to offer is a simple, narrated trailer-video which, ideally, should convince traders to invest with them. The Wealth Matrix does not differ from the rest and we are presented with an alarmist video about the dire future that is waiting for anyone over 40 looking for a job due to automation. It is quite general and does not offer anything specific. From what we could discern – the crypto robot is offering some sort of auto-trading software which is pretty much the case with every other robot. In this case it is called “the wealth matrix” which automatically collects information from multiple sources in order to predict best what the changes in the market will be and make the best possible trading decisions. We also read that many supposed clients of the broker have made thousands of dollars trading. There are even testimonials of ex-clients which are replete with praise for the trading software and with the usual gibberish concerning fast winnings; we are inclined to suspect the validity of such claims. Here is a screenshot of the webpage:
No name, no address, no number
After doing our usual research we come across disturbing, but not unexpected, results. Even though we come upon the following in the terms of the robot which inclines us to suspect the base of operations is in the UK:
However, we do not read anywhere an address or a name of the company behind the website. It turns out that The Wealth Matrix is part of probably the most popular scam out there. Precisely through such websites, dressed up with farcical opportunities for winnings, traders are convinced to register and carelessly give away their address, phone number and email. Minutes later that same personal data is sent to brokers as “leads” and the registered traders begin getting phone calls from unregulated forex brokers like FXWorld24 or Aspen Holding, urging them to invest. Cheap traffic is actually the product Bitcoin Era are offering, not some trading application ahead of the market that may incur riches to any willing trader.However, we were unable to register and cannot know for certain whether the crypto robot is in fact connected with some Forex broker.
No verified track record
Even if we choose to believe The Wealth Matrix about it’s new product – which we certainly do not advise – there are still problems. To put it bluntly – we have no guarantee that the crypto robot will deliver on its promises. In trading there are social trading platforms such as the Zulutrade where you may search through the profiles of different traders and see how much they are winning or losing before investing funds with them. This is done through tracking every deal they have made and even seeing the results of all the rest of their followers. Such transparency adds significant assurance and partially, if not fully, removes risk. Where as with half-baked and senseless websites such as The Wealth Matrix you are relying on blind faith.
No regulatory supervision
Furthermore, there is absolutely no regulatory guarantee about the whole product. The people behind the website do not fall under any regulatory oversight and their hands are untied to do pretty much as they wish. They also lack SSL encryption which compromises any information transferred through the website. All in all – the only thing different about this specific crypto robot is that there is mention of UK laws in the terms and conditions.
Last, but not least – the mere way in which such operations look for funds should raise major security concerns. If the crypto robot truly did offer an exciting and legitimate product, it would have found an alternative way of financing itself, instead of relying on cheap traffic through a cheesy bait-clicking commercial about itself. They could apply for a credit at the bank or raise money through crowd-funding. Although, in order to do that successfully, they have to be legitimate – which they most likely are not.
All in all, The Wealth Matrix comes across as a standard scam operation – the likes of which we have seen a lot – and we advise those interested not to risk it.