CSRAcademy.org.uk is a corporate review and financial watchdog website specializing in exposing Forex get-rich-quick schemes. Our team of researchers places particular emphasis on fake celebrity endorsements which are used to promote fraudulent cryptocurrency trading software. These systems usually consist of various trading methods, bitcoin make-money systems, signals, or crypto trading robots. The writers at CSR Academy are extremely opinionated and passionate about exposing scams and dirty boiler-room operations. Bitcoin has been gaining massive media exposure due to the popularity it has gained with traditional investors, as well as the general public. Greedy con-artists are not oblivious to this new currency and the waves it has created, and they are building their scams around popular new virtual currencies such as Bitcoin, Ethereum, Ripple, and Litecoin.
What Are Bitcoin Trading Robots?
Trading Robots (AKA Bots) are automated trading systems which trade on auto-pilot without any need for human intervention. Scammers would have you believe that this Bitcoin Robots generate money for you at the push of a button, and all you need to do is invest a small amount of money. Usually they mention a kind of “wealth loophole” or “exclusive club” which is reserved for new bitcoin millionaires. These are all lies designed to attract unsuspecting victims.
How Does A CFD Scam Work?
CFD’s or contract for difference is actually a derivative which is traded based on the underlying asset. Its very similar to Forex, but can it can be used for stocks, indices, or commodities as well. CFD scams usually prey on the uninformed public and rely heavily on affiliate marketers. The affiliate networks bait the victims by using advertisements that promise them a short-cut to a luxurious lifestyle. These can be on Facebook or click ads on search engines. After clicking the links viewers are usually lead to an interim page which is usually where they see the fake celebrity endorsements. After clicking on that they are usually redirected to the actual scam website which can be any one of the get-rich-quick schemes we have blacklisted here at CSRAcademy.org.uk.
Victims who signup don’t even realize it, but they are registering for an offshore CFD broker. What happens after that is pretty amazing since many people willingly give their money to someone they don’t even know without at least reading a proper review or doing some research.
What Are Forex and CFD Brokers?
Forex or CFD brokers are the actual trading platforms where the trading occurs. They provide liquidity, a cashier, processing, customer service, and a host of other services which allow the to assist and retain traders. Some brokers are licensed, others are not. Obviously it is not recommended to partner with an unlicensed broker since you will most likely get ripped off.
Transparency, The Key To Profitable Trading
If you don’t have access to all the facts and see the actual contract rates, deposit and withdrawal fees, margins, and leverage then you will end up like most retail Forex traders. It’s important to make a note and follow a few basic rules, we have already done this research for you and all our recommended systems have been tested and screened after passing our rigorous filtering process.
Regulatory Aspects of Trading Crypto CFD Contracts
Trading CFD’s (contracts for difference) in the UK is completely legal. Our staff uses a third party auditing firm in order to make sure the various platforms and brokerages we use are licensed and operate in a transparent way.
Ponzi Schemes, HYIPs, Fake ICOs, and Faucets
A Ponzi scheme is form of financial fraud which attracts new investors by showing them a balance sheet with funds collected from older investors. HYIP’s or high yield investment programs are basically a type of Ponzi Scheme, and fake ICO’s or initial coin offerings is when a fake coin is invented and then sold to the public. A faucet is a type of reward system which promises Satoshis or small units of Bitcoin (similar to cents) for fulfilling tasks. A fake faucet will promise a certain amount of Satoshis, but will not payout after the job is done. This is just a partial list of possible scams which are plaguing the internet, and they are not about to disappear any time soon. Still despite everything, there is a lot of money to be made trading Bitcoin and other cryptocurrencies online these days. But you must conduct proper research and only use systems which have been tested and deemed profitable by reputable review websites or industry watchdogs.