The Trader app by Brian Wren is a binary trading software that claims to work on autopilot. Although it positions itself as a legitimate software, I’ve had readers who reported huge losses with the app within a short period of time.
The Trader is a scam, and a well-designed one at that. If you are looking to invest into the system, make sure you read this review before going ahead.
Name: The Trader
Website: thetraderapp.co
Owner: Brian Wren
Price: $250 min. deposit
LEGITIMATE? NO, IT’S A SCAM
Bite-sized review:
The Trader is a carefully designed scam that involves fabricated 3rd party reviewer and fake member profiles. The truth is well hidden in the disclaimer that escapes the eyes of most victims.
The Trader Software Review
Brian Wren claims to be the founder of The Trader app
Unlike many other binary trading software scams, The Trader app doesn’t use over-the-top hypes and exaggerations to market itself, which makes it a tougher fraud to detect.
It doesn’t promise to make you millions of dollars overnight, and it seems professional enough to quality as a legitimate opportunity.
As a result, many cautious internet users have fallen into the trap, and this includes 4 of my readers who sent an email to alert me. Look at one of the emails below:
Even cautious users fell for the scam
He lost a huge sum of over $300 in just a night. The experience of 3 other readers are less than stellar, too, with each of them losing at least $200 within 24 hours.
Obviously, this goes against what is reported by Howard Davis, the supposedly independent reviewer in the sales video, who was allegedly hired by Brian to review his app.
Howard reported a profit of over $1700 over the course of 3 days, but apparently this is not what’s being reported by actual users of the software.
Howard Davis is a shady figure at best, and there is something you need to know about him.
Howard Davis is Purely Fabricated
Who exactly is Howard Davis?
Howard introduces himself as the no.1 trader in the world, and a strong advocate of manual trading because he doesn’t believe in automated trading software.
Despite boasting 18 years of experience trading binary options, there is no information about him, not even an article or news piece exist on the internet.
In fact, the only time he has appeared is within the sales video of The Trader software, where he advocates and misleads victims into signing up for the scam.
In other words, there is no credibility in his review, despite claiming to be a powerful independent reviewer.
The truth is, spokespersons are often hired to promote online scams and to provide a confidence boost. In fact, anyone can hire a spokesperson from Fiverr freelance marketplace for as low as $5.
For example, Blazing Trader and Polygraph Millionaire frauds that I’ve reviewed recently used the exact same tactic to lure victims into their traps.
Members of The Trader App are Fabricated
These members are fabricated from stolen photos
Knowing the power of social approval, many binary software scams choose to fabricate fake member profiles and testimonials to “prove” that their software works. The Trader is no exception.
Every single one of the members featured in the sales material was fabricated from stolen photos from all over the internet. Compare the photos below with the screenshot above.
The original sources of the stolen photos
Personally, I don’t believe in online testimonials because I know how easily they can be fabricated and manipulated. It’s best to take these testimonials with a grain of salt, unless you know the website can be trusted.
As is the case of The Trader, the scammers behind the fraud stole several pictures from the internet and fabricated fake profiles for them.
For example, “Logan Turner” is actually Siddhartha Gudipati from LinkedIn, while “Austin Gnomez” is actually John Quealy from Twitter.
It goes without saying that they are not even involved in the scam, let alone generating huge profits from the software.
Besides, if there really are satisfied users, The Trader scam wouldn’t have to resort to fabricating fake member profiles and profits.
The Ultimate Truth Behind The Trader Scam
Hidden truth in the earnings disclaimer
As much as The Trader fraud wants to keep you in the dark, they have to reveal the true nature of the scam somewhere in the website to protect themselves from legal actions.
You can’t find the document anywhere within their sales material, because it is supposed to be hidden from you. The disclaimer can only be found through a small fine print at the bottom of the sales page, which reads “earnings disclaimer”.
You can authenticate the terms quoted above at their own website: thetraderapp.co/earnings-disclaimer.
I’ve underlined the critical terms, but let me write them down and interpret them here:
- There is no guarantee that you will earn any money using the techniques and ideas in these materials. Examples in these materials are not to be interpreted as a promise or guarantee of earnings.
- Earning potential is entirely dependent on the person using our product, idea and techniques.
- Any and all forward looking statements here or any of our sales material are intended to express our opinion of earnings potential.
- No guarantees are made that you will achieve any results from our ideas and techniques in our material.
Just from these few terms, we can understand the true nature of The Trader scam:
- Self explanatory – despite giving you multiple promises, The Trader denies their guarantees using their disclaimer.
- Even though The Trader is advertised as a one-click auto-trading software that handles everything for you, somehow your earning potential is entirely dependent on your own techniques.
- This is important – all the profits and earnings shown in the sales materials are intended to express the scammers’ opinion of earnings potential for the system. In other words, none of the earnings shown are real!
- Once again, The Trader scam retracts the guarantee they have given to you in the sales materials.
Unfortunately, vast majority of the victims don’t even realize the truth when they sign up for the scam.
How Does The Scam Make Money Off You?
If you decide to sign up for The Trader app, you will be required to open a new broker account with their partner brokers, which are unregulated by monetary authorities.
Once you fund your trading account with at least $250, the software will be activated to generate automated trades on your behalf.
However, it is just a generic binary trading robot that make random trades for the users. Victims typically lose all their deposits within hours of activating the software.
The losses are pocketed by the broker, which is then shared with its partner-in-crime – the scammers behind The Trader system.
In the end, internet users like you and me become the sole losers in this complicated fraud, while the scammers make a handsome profit with our trading deposits.
So, Is It Possible to Make Money Online?
THE TRADER IS A SCAM. I strongly advise you to stay away from the scam if you don’t want to lose your hard-earned money.
You’ll be better off spending that $250 deposit for a nice dinner with your family than wasting it on a scam like this.
If you want to make money online, there are much better alternatives than trying your luck with binary options:
Read Review of the Most Recommended Internet Business Opportunity Here.
Have you encountered any online scams before? Personally I’ve fallen for a few before coming across the legitimate one, so let us know in the comments below if you have any personal experience to share!
Stuart
A well balanced review. I checked there T&Cs prior to coming on your site and was surprised to read them. You have to understand the wording and what they mean. Pity so many people will be taken in.