Unfortunately when something sounds too good to be true then it probably is… and Brexit Trader is a scam indeed, which I’m guessing you were suspicious of.
There are many automated trading software scams out there like this that exist and the best way to avoid them is to simply remember the saying just mentioned… “if something sounds too good to be true then it probably is.”
You also have to be careful with the loads of fake reviews that plague the internet. During my research I’ve come across other reviews of Brexit Trader that claim it is a good way to make easy money and that you should invest in it… but these reviews are complete BS and are just trying to make money off of unsuspecting individuals.
What Is Brexit Trader?
Brexit Trader is said to be an automated trading software that capitalizes on the volatility of Bitcoin price based on news coming out about Brexit. The idea is that Brexit announcements are going to increase the volatility of Bitcoin prices, giving traders big swings that they can capitalize on.
The idea makes sense… and there are media outlets like CoinTelegraph predicting that a no-deal Brexit will push Bitcoin to new highs.
The trading software is said to read the market and make predictions about price swings. It is said to be a whopping 99.4% accurate, which means that anyone who uses this trading software is guaranteed to profit… but this is a bit ridiculous as I’ll discuss in a bit.
Any trader knows that market volatility is a good friend. Now if you are long-term investing this is a different story–but for trading market volatility is a great thing. I actually trade bitcoin and other cryptocurrencies myself and an unstable market can be a lot of fun… and a good money-maker.
So the idea behind this trading software makes sense… but unfortunately just because it makes sense doesn’t mean it isn’t a scam.
First they show a bunch of news clips about why there is impending doom coming your way which makes you worried… then they show you some other news clips that lead one to believe their trading system is going to save everything.
First it starts off with news clips about how Brexit is going to cause massive rises in unemployment in the EU, then there are clips about how great Bitcoin is as a store of value and why you should invest.
So right off the bat it seems to be following the same scam blueprint as many others… and the red-flags pile up from there.
1. No Idea Who Is Behind This Software
The person introduced as the creator of this software goes by the name of “Paul Harrison” and he claims to be an ex software engineer and trader himself.
This is great and all… but I am very hesitant to believe any of this because there is nothing that we are told or shown that is verifiable. All of the information given on this “Paul Harrison” guy could easily have been made up for the purposes of promoting this scam… which I see happen all the time with scams like this.
2. Impossible Levels of Accuracy
99.4% accuracy… that is the claim made and it is one heck of a ridiculous claim.
There is no automated trading robot that exists even close to being this accurate and they expect me to believe that this one is even though we have no idea who is behind it and it follows the same blueprint of just about every other automated trading scam out there?
Even predicting a traditional market with over 90% accuracy is ridiculous… predicting the cryptocurrency market, which is known to be incredibly volatile and unpredictable, with 99.4% accuracy…? Come on now… this is just stupid.
3. Completely Free???
If you’ve ever taken a class in economics you’ve learned that nothing is free in life… except for things like breathing air. But Brexit Trader claims to be 100% free.
They tell us that there are NO BROKER FEES OR COMMISSIONS and that USING THE BREXIT TRADER COSTS NOTHING.
So how does this make sense? Where are they making money? They have to be making it from somewhere right?
Or are they just allowing people to use their software for free out of the kindness of their hearts?
Another major red flag.
4. Fake Testimonials
If this trading software really were as good as they say then you would think it would be easy for them to get real testimonials… but for some reason they are all fake…. Hmmmm…?
On the website they show a bunch of testimonials as shown below. You have a bunch of people claiming to make a ton of money with Brexit Trader and are ranting/raving about how great it is…
But after doing some reverse Google Image searches for the people pictured in these testimonials I was able to find that they are NOT who they are shown as.
For example, the guy pictured in the top left above… his image is all over the internet on many different websites… which leads me to believe it’s just a stock photo…
The same goes for all the other testimonial photos. They are all fake.
This Is How You Get Scammed
The idea is that you:
- Register for free
- Fund your trading account
- and Start profiting
It sounds so simple.
But what happens is they will refer you to some unregulated broker that can’t be trusted and does not care about your money.
How it usually works is that scam opportunities, Brexit Trader in this example, have deals with the brokers they are referring people to and they make affiliate commissions from the money that they invest.
So Brexit Trader sends people to brokers to deposit money and they make money from the brokers.
It’s all a scam.
Once you deposit money with the broker you are assigned it may even appear as if you are making money, but when it comes to withdrawing that money you might run into some problems.
Conclusion – Scam
While I haven’t actually invested my money into the Brexit Trader, I am very confident in my position on it. I’ve reviewed so many similar scams it’s not even funny… literally dozens upon dozens over the years. Scams like this will continue to evolve and capitalize on new events going on in the world.
Stay safe and avoid anything that seems suspicious.
Remember, if something sounds too good to be true then it probably is.
Take care and if you want a way to make money online that I actually recommend, take a look at my guide to making money online that I put together… which details exactly how I make a living working online for myself and how others can get started doing the same.
Also, leave your comments and questions below 🙂