Beware! Brexit Trader 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.
The Forex trading world is replete with crypto robots such as Brexit Trader. They are often made in the most absurd and their websites are quite self-serving. In most cases all they have to offer is a simple, low-budget narrated trailer-video which, ideally, should convince traders to invest with them. And the Brexit Trader does not differ from the pack. The video-trailer in this case, however, has a significantly different message from the ones we are used to from crypto robots. Usually, we will hear about all the opportunities that crypto trading has in stall for us, as well as the products – an autotrading software that will make us rich. Brexit Trader focuses on Brexit and plays along the lines of an argument that the exit of the British state from the European Union opens up huge possibilities for the crypto trade and that it will lead to an increase in the price of Bitcoin. Furthermore, there are only small irrelevant pieces of information scattered through the website such as the mischievous statements that keep popping up on the top left corner which purport to be the amounts of money different clients have “just made” which is a popular trope with scammers. In fact, we are certain there are no clients of the crypto robot at all. Here is a screenshot of the webpage:
As was said above – there appears to be some sort of auto-trading application which will take advantage of the influence Brexit has on the price of Bitcoin.
No name, no address, no number
After doing our usual research we come across disturbing, but not unexpected, results. A search in the web did not yield any relevant results besides warnings of fraud. It turns out that Brexit Trader is part of probably the most popular scam out there. Precisely through such websites, furnished with ludicrous statements about possible future 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 Capital4Bank or CCDFBank, urging them to invest. Cheap traffic is actually the product “Libra Method” and their “team of talented software designers” are offering, not some trading application ahead of the market that may incur riches to any willing trader. Usually, after registering with the crypto robot we get redirected to the website of some shady unregulated brokerage, however, with Brexit Trader we weren’t even able to register. Rest assured – the information presented on the registry form will be sent to different brokerages who’ll begin cold calling.
No verified track record
Even if we choose to believe Immediate edge about it’s new product – which we certainly do not advise – there are still problems. To put it bluntly – we have no assurance for results. 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 Brexit Trader 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.
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, Brexit Trader 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.