BTC News Trader, aka Bitcoin News Trader, is supposedly a cutting edge crypto currency signal software, which promises to make its users consistent stream if income if they are fast enough to act on it.
The site is hosted in various domains, including BitcoinNewsTrader.com, BTCNewsTrader.com, WorldToday-Magazine.com/en-24news/ and SecureOffer.net/btcnewstrader/.
At first glance this website does not look too fishy but nonetheless when we did some digging, we were convinced that this platform is nothing but a scam.
This service has been active for at least 2 months as of writing this article.
Read our full BTCNewsTrader review to find out why we recommend everyone to stay away from this fraudulent platform.
Creator, Company and Contact Details
The creator behind this phony platform have maintained complete anonymity.
Their only goal is to reach maximum amount of people and whenever they deposit with one of the affiliated off-shore brokers synced with this platform these scammers get a fat commission check.
BTC News Trader provides investment advice which requires them to be regulated but we were not able to find any certificates confirming licenses they must lawfully hold which means it is an illegal service in most countries.
Unfortunately, if you were a victim of this scam or if you are considering to open an account with them and for whatever reason if you need any type of assistance, forget it.
This firm does not have any support staff to address your problem or to assist you.
How this software works?
This platform claims to generate signals by getting high quality news before everyone else and properly analyzing their influence on the market.
BTC News Trader software supposedly scans hundreds of crypto related news source all around the clock and then their analysts will rank the information with a predicted trend for a relevant crypto currency which they state to be crucial for trading.
If you are a beginner or inexperienced investor then you might feel a little overwhelmed but the information provided is very inconclusive. Any experienced investor can easily see through the garbage they are trying to sell you.
Furthermore, there is no assurance about the reliability of their software.
Would you invest your money without knowing the win rate and draw down of the trading system it follows?
What kind of returns does BTCNewsTrader offer?
As time changed, the scammers have also incorporated many effective tricks. The clever move done by them on this platform is that they never promise you an exact or average dollar amount.
By doing this little shady trick they appear legitimate to most of the new and inexperienced investors. They also try to invoke greed in you by saying things like this software is the disruption the whole crypto currency industry has been waiting for but rest assured all these claims are fake.
Nothing worth having comes easy. To make consistent profits in the crypto space requires effort and knowledge while it is definitely possible to make money, don’t buy into software which claims to help you make easy money.
Question Marks and Red Flags
These are shown just to earn the trust of the investors and trick them into believing that they are a legitimate trading solution which knows the ins and outs of the industry.
There are a lot of user testimonials featured on their website where in the early users of this system share their thoughts. Do not believe them as they are all not real users but fake profiles.
Ask yourself why would they put up fake testimonials unless they are trying to hide something from us? The images are just stock photos purchased or stolen from other unrelated websites.
Most of the reputable signal service provide their users with a money back guarantee or a free trial period which helps the users assess their service before committing with them. This platform lacks both.
How are we supposed to know the performance of their trading system without risking our money?
There is a fake countdown timer on their website which never reaches zero. This is perhaps one of the oldest marketing tricks used by scams to pressurize the investors to sign up with them quickly.
Along with this fake countdown timer, there are pop ups which shows the amount of profits generated by other users within your country. Do not be fooled by that because these are not real time stats, they are programmed to appear every now and then.
Deposit and Withdrawals
Once you sign in, you are taken to the payments page where in you have to sign up with one of the recommended brokers synced with their platform. Unsurprisingly, most are unregulated. The minimum deposit is $250.
The deposit and withdrawals can be done through bank wire transfer or debit and credit cards.
The time taken for processing withdrawals is not specified anywhere on their website.
Is BTC News Trader a scam?
The answer is an obvious yes.
Considering all the factors and misleading information on their platform along with the lack of transparency exhibited by this firm, there is no doubt.
What we are looking at is a scam.
BTC News Trader Review Conclusion
BTC News Trader is just another get rich quick scheme which offers nothing but disappointment to the users who buy in to their empty promises.
Have you been scammed by BTCNewsTrader? Share your story by commenting below this review.
Feel free to subscribe to our blog to receive our online investing scam warnings by email.