Digitized Day Trader by Leonard Dames at digitaltrader.co promises you quick riches trading online. Can he be trusted? More importantly, is Digitized Daytrader a scam? Let’s find out in our Digitized Daytrader review.
Name: Digitized Daytrader
Owner: Leonard Dames
Price: $250 min. deposit
Legitimate? NO, IT’S A SCAM
(full list of all reviewed scams)
Digitized Daytrader Review
Well, getting started with Digital Daytrader isn’t really free.
Digitized Daytrader scam (yes it is a scam) features Leonard Dames as the alleged owner. In the sales video, he talks about how he generated millions of dollars from his autopilot system using just 8 minutes everyday. And now he wants to give his system away for free.
Leonard Dames did not forget to bombard you with the images of sports cars, yacht, luxurious residence and dreamy vacations at the start of his sales video to get you excited about the potential of his system. He’s feeding you imaginations before trying to brainwash you.
If you follow his sales video carefully, you’ll realize that Leonard doesn’t provide any details on how his software makes money for you. All you are told is to let the software do all the work, while you reap big profits.
This is a big red flag for most of the online scams. They don’t provide any concrete information on how the opportunity works, but they keep focusing on the potential profits the opportunity can generate for you.
Stay vigilant and don’t be fooled, as Digitized Daytrader is just another binary trading software scams.
What Is Binary Trading?
Before we continue with the review, we will explain how binary trading works to make sure everyone is on the same page. If you have experience with binary options, you may skip this segment.
Binary trading is one of the simplest forms of trading. Unlike stock market and Forex, you don’t have to read up financial news and analyze complicated charts. With binary trading, all you need to do is to predict if the price of an asset will rise or fall after a short period of time, usually between 30 seconds to minutes.
This is how it works – let’s say I think that the price of gold market will rise after 1 minute, and I bet $50 on a 1-minute contract. When the contract expires, and the price is indeed higher, I win a certain percentage of what I bet, usually between 60% to 80% ($30 to $40). But if I’m wrong, I lose the entire $50 that I bet.
To put it simply, trading binary option is not that different from your usual gambling. There’s no way to make an educated guess on the market movement in such a short period of time. How do you predict the outcome of a coin toss? You simply rely on luck and gut feelings.
Trading binary options is no different. And even if you manage a decent 50% win rate, you will still lose money due to the uneven winning vs. losing payout of binary options. That’s how the brokers make big money off you.
Please note that we do not recommend binary options if you want to generate serious income online. It’s one of the worst possible ways to make money online. There are simply better alternatives out there that are much more promising than trying to gamble your way to wealth.
How Does Digitized Daytrader Work?
Digitized Daytrader claims that it works on full autopilot
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Back to Digitized Daytrader scam.
After feeding you some wild imaginations, Leonard Dames claims that he has created Digitized Daytrader to work on full autopilot, and it only search for safe trades.
All you need to do is to sit back and reap the profits, earning a good $8,952 everyday! Can you believe it? Seems like we’ll have a ton of millionaires born from Digitized Daytrader alone within the next few months!
Apparently Leonard Dames wants you to believe his outrageous lies. In fact, instead of making you a millionaire, you are actually making him a millionaire by handing your hard earned money to him.
What Digitized Daytrader Doesn’t Want You to Know
The secrets are hidden in the disclaimers
If you take a close look at their hidden disclaimers, you’ll realize that Leonard Dames and Digitized Daytrader have some secrets they don’t want you to know.
Do you find the disclaimer very hard to read with all the UPPERCASE letters? Well, it’s deliberately made so to discourage you from reading it closely, even if you manage to find it.
Let me spell out the critical terms here:
- Trading performance are based on many personal factors.
- You should assume you will probably lose money trading (with Digitized Daytrader).
- If you rely upon our figures as presented in the videos, you accept the risk of not doing as well or even lose trading capital.
- You could experience significant losses, or make no money at all.
- We are not responsible for the success or failure of your financial decisions (relating to Digitized Daytrader).
From the earnings disclaimer alone, we understood a number of facts about Digitized Daytrader scam:
- Despite the software working on full autopilot, somehow the trading performance are based on personal factor. So you can’t blame the system if you lose money using their software.
- Despite promising you $8,952 daily profit, the truth is you will probably lose all your trading capital.
- The earnings in their videos are hypothetical. You should not trust the earnings reported in their sales materials.
What happened to the promises of quick riches with little to no effort at all? Apparently those are just lies that Leonard Dames tell you to get you to use Digitized Daytrader scam.
And why does Digitized Daytrader scam include such terms in their earnings disclaimer? It’s used to protect themselves from legal actions when you lose all your capital with their software.
Despite the way they sugarcoat binary trading and the guarantees they provide in the sales materials, Digitized Daytrader will not be responsible when you lose all your money.
How Does Digitized Daytrader Make Money Off You?
I was assigned to one of Digitized Daytrader’s affiliated brokers, Binary Brokerz
You may wonder why Leonard Dames makes so much effort to promote Digitized Daytrader just to give it away for free.
Firstly, if you decide to use Digitized Daytrader and register for a broker account through their sales page (which is an affiliate link), Leonard Dames and the team behind the scam will earn a sum of referral fees as soon as you make your first deposit. You need to make a minimum of $250 deposit to get started.
You need a brand new broker account to use Digitized Daytrader
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You can’t use their software even if you already have an account with their recommended broker. You need to register a new email address for a new broker account, because Digitized Daytrader scam cannot earn their referral fees if you don’t create an account through their affiliate link.
Not only that, Digitized Daytrader will continue to earn commissions off you in the long term. The team behind the scam will earn a commission for every trade that their software makes for you.
The scary part is, since Digitized Daytrader runs on full autopilot, they decide your trading frequency and trade amount. They can dictate how much commissions to earn off you as long as you still have balance inside your trading account.
Digitized Daytrader scam will profit regardless of whether you make or lose money, ALL ON YOUR EXPENSE.
Is Digitized Daytrader a Scam?
YES, IT IS A SCAM. As we’ve said in the review earlier, we don’t recommend binary options trading as a way to make money online, at all. It’s basically the same as gambling, and using an automated trading software doesn’t make a difference. You are essentially putting your hopes and entire investment in a piece of software that gambles on your behalf.
You are more likely to end up losing all your money than making any significant profit. If you have some cash to spare for entertainment, you may go ahead and try it out. But you’ll be better off spending it on a nice dinner with your loved ones.
If you are determined to make money online, you must use a legitimate program that will provide you proper trainings and help you build your own business. We have tried out many programs, and there is only one program we recommend to our readers:
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!