Last Updated on September 14, 2022 by Stephan Lindburg
Ethereum Trader Review
It seems the scammers are up to no good again, and this time they are launching the Ethereum Trader scam app and automated trading software. We have seen all kinds of review websites endorsing this bogus investment platform, and they all have a slightly different take on what Ethereum Trader is and how it works. However, all of these sites claim that Ethereum Trader is an AI-powered trading system which operates on auto-pilot without any need for human intervention. In reality, Ethereum Trader is a spinoff of an older scam which has been updated and adapted to meet certain marketing and design requirements.
In some cases there is also a mention of algorithmic trading and a mobile app which “disrupts” the financial markets by giving traders more control. That’s what we refer to as the “Robin Hood” sales pitch, which is designed to get you to identify with the product the scammers are trying to sell you. But that is a con and as everyone knows “every con needs convincing” so don’t believe those cheaters for a second. We’ll explain why, just grab your cup of coffee or tea (depending on what your preferred beverage is) and read what our research staff was able to dig up.
Ethereum Trader Scam: Our £250 Deposit Test
If you had great expectations or bought into the idea that Ethereum Trader is a legit auto-trader then it’s time for a serious reality check. Once again we shall have to burst your bubble and tell you that when we invested our £250 the money was lost after about 15 minutes. Almost immediately after that happened we were contacted by a “Senior Broker” from “Invest Central” who advised us that we had to invest another £7,000 if we wanted to start making real money. This makes perfect sense since this is usually what happens with disreputable trading systems like Ethereum Trader.
Furthermore, we checked “Invest Central” and they have a registered business address in Tbilisi Georgia. Georgia, which is located in the Russian Caucasus, is quickly becoming a safe haven for crooks who are looking for an easy way to launder their money and that is a huge red flag for investors.
The crooks who are responsible for coordinating this latest sham are affiliate networks and media agencies that specialize in promoting get-rich-quick crypto scams. There is one particular network which has closed special deals with offshore brokers for a minimum deposit of $/£/€200 instead of $/£/€250.
That is because this network is responsible for delivering a lot of new investors and for that reason has leverage it can use to pressure brokers into lowering the initial deposit. Suffice it to say, regardless of how attractive the offer may seem it is a fraud none the less and for that reason we blacklisted the Ethereum Trader scam. If you scroll down on this page you can see how networks belonging to this network look like so you can avoid them.
If you have your mind set about investing with this software, we highly recommend you take a minute to read our Ethereum Trader review. We put together some very convincing arguments which will help you put things in perspective and make an informed decision. That being said, our decision to backlist the Ethereum Trader scam app did not take much contemplating or deliberation. The facts are there for everyone to see and all we had to do was make them available to our readers.
Official Ethereum Trader Website, Login Page, and Members Area: There are multiple Ethereum Trader websites and they all claim to be “official”.
Below is the first version of Ethereum Trader which was launched way back in 2018. You can see for your self how the scammers named it and the face of actor who is right in the center of the sales video.
And here we have that same actor posing for the Ethereum Trader scam. His name is Kyle Brauch and he will basically lie through his teeth for a measly $5. That’s how cheap these scammers are. With the exception of the logo, these con artists didn’t even bother changing the texts and left everything the same as the original.
There you go, we have added a screenshot from his fiverr profile for you to see. He is actually rated as a “Top Seller” on Fiverr so obviously he knows how to get the selling points across very effectively.
Here we have a different version of the Ethereum Trader website, and guess what? It’s also claiming to be the “Official” trading platform. Of course all versions of the website are scam and the only difference is the people who are promoting it. In some cases it is even the same people who are promoting multiple websites in order to receive maximal exposure on search engines.
Ethereum Trader Review: Fake Testimonials
Here we have the Ethereum Trader testimonial section, and as you can see all the testimonials are totally fake. This type of manipulative advertising practice has become the trademark of professional con artists in the binary options and crypto niche. It’s relatively easy to spot so as far as we are concerned these lazy scammers made a serious mistake and they are paying for it right now by having their fraudulent software exposed.
Fake Ethereum Trader Reviews
We found many fake reviews, but there is one website which keeps resurfacing and it has been getting a lot of attention recently. Below you can see a screenshot of that website where they are giving Ethereum Trader a score of 9.1 (believe it or not).
Ethereum Trader Fake News
We have already seen a couple of fake news campaigns associated with the Ethereum Trader scam, and we have every reason to believe that this trend will only grow. This is because scammers understand that fake celebrity endorsements are very effective at baiting victims since it makes their scheme be perceived as legitimate.
So if you have seen fake ads with endorsements from members of the Dragons Den, Shark Tank, or This Morning Show, you should know that you are being targeted by scammers.
What Is Ethereum Trader And How Does It Work?
Ethereum Trader is advertised as an automated Ethereum trading system which is designed to generate money on for its members without having to intervene manually in the order execution process. Some websites also mention AI-driven technology, powerful algorithms, and a software which generates massive returns by conducting price movement analysis on market behavior. This is fanciful at best and most likely lies designed to get you to invest so that someone with an alternative agenda can collect affiliate commissions.
Ethereum Trader Review, Yes It’s A Scam (Confirmed)
Here’s an interesting fact. We have personally interviewed by phone 10 people who registered for Ethereum Trader and all of them told us the same story. After seeing an advertisement they were prompted to join the program. They were under the impression that they were about to generate over £10,000 a week without having to do much.
After an initial deposit the horror stories began and each and every person who registered for “Ethereum Trader” received multiple phone calls from very persistent and relentless account managers who kept insisting more money was needed in order to activate the software and start generating significant profit. In one case we even received a complaint about how one of our members invested £24,000 and had his account shut down immediately after placing a withdrawal request.
Ethereum Trader Review: The Perceived Benefit and Missing Features
In marketing terms, the perceived benefit is what the new customer is supposed to be getting. In the case of Ethereum Trader, the new registrant is supposed to receive access to a signals panel, some type of technical indicators such as stochastics, Ichimoku (used to gauge momentum), or Bollinger Bands. Risk management features should also be present, but that was also not available and there is no way for the user to limit the amount or number of trades they make.
The features we mentioned above are pretty basic, and every trading interface should offer them. Sometimes other features like a news feed, or copy trade are made available. However this is optional and not suitable for every system.
Ethereum Trader does not offer any access to the tools we mentioned, so when certain dubious review websites start talking about “profit closeout rates”, we get extremely agitated and let our viewers know how we feel about it.
Ethereum Trader Scam Exposed: The Usual Tell Signs Are Present
When observing the search environment related to Ethereum Trader, we noticed a few recurring motifs which indicate to us that we are dealing with a scam. First, Ethereum Trader makes fake claims about guaranteed wins, no risk trades, and offers no type of back-testing in order to show members it is a serious trading platform.
Secondly, there is a lot of confusion around the question of which is the “real” Ethereum Trader website. This is intentional and happening since there are multiple affiliate networks which are using Ethereum Trader and they all have separate deals with different CFD brokers. Since different networks have diverging marketing and design requirements each one is keen to promote it’s own site, and what the viewers get in return is a lot of confusion around which is the “real” one.
Finally, the use of recycled graphic designs, fake testimonials, and total anonymity completely sealed the lid on this ridiculous piece of rubbish which should not have even been launched in the first place.
Ethereum Trader Is Not Compatible With Any Exchanges (We Checked)
Legitimate software usually has an assets list such as BTC/USD, ETH/EUR, and so on. Ethereum Trader does not even divulge the assets it offers, and that is because there is no software to begin with. Ethereum Trader is just a website (AKA front end) which is presented to opportunity-seekers who are strapped for cash or just any Bonnie, John, or Clyde that are interested in generating passive income using a legitimate trading app.
Based on this fact alone it is safe to say that Ethereum Trader is not supported by any of the popular Crypto Exchanges such as Binance, Kraken, or Coinbase. Still we checked again and even had our members look for access to exchanges, but it was not to be found. So don’t believe any lies about how this software can be used to trade in that way.
Ethereum Trader Regulatory Aspects – Is Ethereum Trader Legal?
Our scam check shows that Ethereum Trader shows up (in one format or another) on the FSMA and CNMV warning lists and labeled as a “fraudulent online trading platform” as you can clearly see below.
The FSMA has even stated that user profiles have been hacked on social media in order to increase the effectiveness of the “fake ads”.
Is It Free?
Not really no. Access to the Ethereum Trader app will cost you at least £/€/$250. In many cases brokers ask for twice as much, and that is to help cover the affiliate commissions. That money will be charged to your credit card by the broker which has been assigned to you and we can tell you right now with a 100% degree of certainty that this broker will not be licensed to manage financial portfolios on behalf of clients.
Ethereum Trader Deposits and Withdrawals (Cashier FAQ)
Making a deposit with Ethereum Trader is super-simple, but cashing out is a completely different story. When we started inquiring about cashing out we immediately noticed that our account manager was no longer interested in talking to us. When we started sending documents and making demands our account was effectively shut down and we were locked out.
Ethereum Trader Customer Service
Plainly put, customer support is non-existent. The contact form on the website doesn’t work and there is no phone number or address which is made available to members.
What Are CFDs?
CFDs or contracts for difference are financial instruments that can be used for trading. CFDs are very much similar to Forex currency pairs, with the main difference being that there are different types of assets which are available. For example, with CFDs you can trade stock, commodities, indices, and of course cryptocurrencies such as Bitcoin, Ethereum, or Ripple.
The main problem with CFD scams like Ethereum Trader, is that the promoters behind it emphasize to potential profit but hardly ever mention the risks which are associated with any type of online trading.
Signals, Bots, and Social Trading Apps
There are a variety of systems which are available to traders these days. If you are a control freak that wants to trade manually then signals are what you are looking for. Most people are searching for trading robots that do the work for them, and sometimes social trading is also requested.
Whatever you choose, it’s important to conduct proper research and find the app which is right for you. This is particularly true if you are a novice that’s just starting out, but also if you are somewhat experienced and have a partial understanding of the financial markets.
Recommended Systems That Work!
If you have made it all the way to this section of our Ethereum Trader review then you may be interested in trying out a software that actually works. Our staff of expert traders cherry-picks the best and most consistently profitable systems available in the market. Once these systems pass our screening process they are added to our recommended section and constantly monitored to make sure the performance levels are up to par.
Ethereum Trader Review, Summary, and Final Recommendations
The Ethereum Trader scam app and fraudulent automated trading software is just another recycled website which we have blacklisted in our review. The whole concept or idea behind the Ethereum Trader platform is to draw an analogy between the well-known or widely recognized Ethereum cryptocurrency, and this obvious fraud. In our opinion, this type of sales pitch represents a very crude and somewhat loathsome attempt to defraud victims who are totally clueless about finance, investments, or the markets.
We have even received a number of veiled threats from some very unsavory characters who told us that “it is not in our interest” to write anything bad about Ethereum Trader, but we don’t really respond well to threats. So we would like to take this opportunity and warn our members and viewers about Ethereum Trader.
Not only are we not recommending it, we are literally saying that if you join this program you will definitely lose your money so please avoid this scam. If you have any additional questions or queries about Ethereum Trader or need clarifications, please leave a message below or message us through our contact page.