Last Updated on January 5, 2022 by Stephan Lindburg
Bitcoin Melbourne Review. Is Bitcoin Melbourne SCAM?
Today we will review a new automated Bitcoin trading software which is named “Bitcoin Melbourne”. Bitcoin Melbourne is supposed to be a new fully-automated exchange robot which buys and sells Bitcoin contracts on auto-pilot without any form of human intervention. But is that really the truth or is Bitcoin Melbourne scam?
Truth be said, this Bitcoin Melbourne review was prompted after receiving a fresh flurry of complaints. Since we started receiving too many complaints our staff of researchers decided to conduct a full review and investigation about this new investment app and trading platform. Our conclusions are clear, and presented to our readers in a transparent and unbiased manner.
Who is Behind The Bitcoin Melbourne Scam? Once again, we were able to pick up on the fact that the con artists behind this latest get-rich-quick scheme are affiliate networks, who are scheming behind your back with unlicensed CFD (contract for difference) brokers. This is quite typical for these types of bogus services, and we were not surprised in the least bit to learn who is behind this scam and how it works.
In this context, we decided to blacklist the Bitcoin Melbourne scam for 3 main reasons. First, it is a cloned website and that is quite simple to see in our review. Secondly, this is just an HTML website which includes a “front end” for users to see and there is no software behind it. Lastly, the platform is totally anonymous and that is a huge red flag.
Bitcoin Melbourne Brokers: When we registered to conduct our $250 deposit test, the broker which we got stuck with was named “Global Traders”, and it has a registered business address in Seychelles which is a dodgy legal jurisdiction. Right after our initial deposit we started receiving rude phone calls from an atrocious scammer who went by the name of “Lee Green” and presented himself as a Senior Broker. Very quickly it became apparent that Mr. Green is nothing more than an alias, and this person’s job was to try and get more money out of us.
So if you are absolutely convinced that this fraudulent trading software is a legit trading robot, we encourage you to take a minute and keep reading our Bitcoin Melbourne review. Our staff of expert researchers was able to prove that Bitcoin Melbourne is a scam which should be blacklisted at once and never to be trusted. We were also able to expose the identity of the crooks who are orchestrating this hoax, as well as their methods of operation.
Official Bitcoin Melbourne Website, Login Page, and Members Area: bitcoinmelbourne(dot)financialmarketsworld(dot)com
Here we have a screenshot of the Bitcoin Melbourne website and main registration area. You can see that they are asking viewers to “become a part of the Bitcoin Melbourne community now.”
And right here we can see the same exact website with the same sales video and the exact same sales pitch and registration form used for two other cloned scams. That means Bitcoin Melbourne is merely a template which is used for promotional purposes and then recycled, translated, and rebranded according to different marketing requirements.
Bitcoin Melbourne Fake Testimonials
Below is the Bitcoin Melbourne testimonial section. We tried but could not find one single testimonial which is not forged. Something which makes total sense because no one in their right mind would ever provide a positive testimonial for this pathetic trading app.
Fake Bitcoin Melbourne Reviews
Here is one website (there are a few more) that is endorsing this fraudulent software. You may ask yourself why this is done, and the answer is quite simple. This website is acting as an affiliate and collecting referral commission every time a visitor joins through one of his campaign links and invests real money. So please make sure to put your thinking hat on and seek genuine reviews from websites specializing in the cryptocurrency trading niche.
We have also spotted some Fake Bitcoin Melbourne reviews on Trust Pilot, Reddit, Facebook, and other forums.
Bitcoin Melbourne Fake News
There is a fake news campaign which is active now and specifically targeting Australian viewers. We have added a screenshot below again to show you how it looks like. As you can see the scammers are illegally using well-known celebrities and wealth gurus to promote their get-rich-quick schemes.
Bitcoin Melbourne Scam – Regulatory Perspectives
Bitcoin Melbourne does not have any certifications or licenses to operate in legally in Australia or for that matter anywhere else on planet earth . There is no mention of a software license agreement or end user license agreements (EULA’s). Additionally we were not able to find anything remotely related to a patent.
Additionally missing was AS ISO/IEC 25064:2019, which is the standard product quality control mechanism for systems and software engineering in Australia. We were also unable to see a PCI compliance time and date stamp, and that means privacy and personal financial information may be compromised.
And of course there is nothing from ASIC, which is the Australian financial regulator. This means that Bitcoin Melbourne is operating illegally in Australia and for that reason must be avoided.
What Is Bitcoin Melbourne And How Does It Work?
Bitcoin Melbourne is supposed to be a fully-automated exchange robot which buys and sells Bitcoin contracts on auto-pilot without any need for manual trading or intervention. But that is just a fancy sales pitch designed to make this bogus app appear to be more believable so don’t believe it for a second.
Bitcoin Melbourne Review, Is It Scam Or Legit Trading Platform?
As you may well have guessed, we are of the opinion that Bitcoin Melbourne is a scam and cloned website. But here are some additional facts that shed more light on scheme. First of all we personally interviewed 3 victims of this atrocious scam via phone. The common denominator which was very evident with all three victims was inability to withdraw existing funds.
Secondly, every legitimate trading platform offers access to a trading dashboard which offers signals or some type of performance measurement tools. This was nowhere to be found, and it basically proves that there is no real software which powers the trading app. Finally, after investing $250 which is around $340 AUD one of our members received a message from National Australia Bank that their credit card was starting to get swiped in all kinds of online businesses and purchases were being made illegally.
Naturally the bank had to freeze the credit card issue another one with a different pin code. This caused the victim a lot of headache since he had to change the credit card details in a variety of places, but apparently the issue was eventually resolved.
Bitcoin Melbourne Review: Features, Settings, and Graphic User Interface
As we have previously mentioned, there are no settings or for that matter any type of user interface. It is however worth pointing out that there are two versions of this website, and one of them does offer some kind of signals dashboard. In the dashboard it is possible to see something which resembles signals and technical indicators. However, we checked and this dashboard belongs to a company named “algo machine”, and it is basically a white-label solution for unscrupulous affiliate marketers who are looking for a quick “go-to” signals software.
Additionally, this specific software we saw in one of the cloned website seems to have some kind of risk management feature, and offers some type of technical indicators such as Stochastics and Bollinger bands. However these features are just for show and don’t really perform any function.
Bitcoin Melbourne Cashier FAQ (Deposits and Withdrawals)
It will cost you at least $250 USD to get started, and that money will be charged to your credit card by the broker which has been assigned to you. Visa and Mastercard are accepted, and in some cases Bitcoin payments may be allowed as well. Depositing is very simple, but that is not the problem with this farce. As we have previously mentioned cashing out is practically impossible.
Bitcoin Melbourne Bonuses and Comps
Similar to an online casino or poker room, scammers will try to offer you bonuses or various types of incentives. If you accept any of these so-called “free gifts” you can pretty much kiss your money goodbye. That is because these bonuses carry trading requirements and for that reason are designed to “lock you in”.
Bitcoin Melbourne Tax-Related Concerns
New members deciding to join Bitcoin Melbourne should not be concerned about taxes since taxes are only levied on profits. Since you can only lose money when trading with Bitcoin Melbourne, taxes should be the last thing on your mind.
What Are CFD’s?
CFD’s, short for contracts for difference are financial instruments which operate much in the same way as Forex currency pairs do. However, CFD’s offer an extensive assets index and allow customers to trade indices, stocks, shares, commodities, and of course cryptocurrencies.
If you are wondering if it is possible to make money with CFD’s then the answer is yes. But if you are new or inexperienced in online trading then you had better find the best possible system in the market and make sure to use it instead of playing the guessing game.
While it’s true that most systems out there are total flops designed to fail from the start, there are some signal apps that actually have potential. Once we identify a certain platform we add it to our recommended section on a provisional basis. If the software generates profits consistently it stays and receives our full endorsement.
Bitcoin Melbourne Review, Summary, and Conclusions
The Bitcoin Melbourne scam software, app, and fake automated trading robot is totally blacklisted for reasons we have mentioned above. We reached out to the owners of farcical piece of rubbish, but were not able to to receive any type of reply.
If for some reason you feel compelled to risk your hard-earned money with the Bitcoin Melbourne trading app, we recommend you read our review once more and refrain from doing so unless you like losing money. Should you have any additional questions or queries, please reach out and message us through our contact page located on the top menu of our website.