Is it safe to trade through a Broker

[ankurguta87]

Hi community,

A broker contact me online and asked me whether I am interested in trading online. He will manage my account and put his knowledge to make me profit but in return I have to send me 25% of profit that he made.

He suggested me to activate 2FA. and provide him username + password of exchange (for example bitfinex). Due to 2 factor authentication (2FA) he will not be able to withdraw fund he will be able to place buy/sell orders only.

Please share guys what is your opinion, It is same to play like this? or Is there any trick of capturing fund behind this scheme?

[1714810589]

1714810589

[The Sceptical Chymist]

He contacted you?  Yeah, I'd view this with a great deal of skepticism/suspicion, and I'd say don't do it.  Run for the hills.  I don't know if any legitimate services like this exist, but trading is risky--there's no getting around that, and don't listen to people who tell you that their method is low-risk, or whatever. 

Even if the service isn't an outright scam (which it probably is), you could lose everything you give the person anyway.  But most likely this is just an attempt to get you to trust him and hand over your money.  Then he'll either run away or eventually tell you that his trades went bad.  Don't fall for it, that's my advice.

[pat4cryptoreal]

Do not give anybody your detail. If you want to make money through trading then go and learn how to trade by yourself. The person can take your money without withdrawing. This is what happen to my friend, He have up to $20,000 in an exchange but when He log in He met only $100. The person place a trade on another account and come to my freinds account and place a trade that correspond to his. Manipulated the account until he get all the money without withdrawing.

[Gozie51]

Why go through such process of heartbreak? I suggest you rather go learn your own skills and method to trade and make the money you can on your own because I believe nobody is perfect in trading and this is a simple truth.

So don't allow somebody you don't trust to get your details whether exchange or wallet details.

[Andrey123]

Why would a man who says that he makes millions on exchanges, ring up strangers and ask them to invest a couple of hundred dollars?))
And also require all the passwords from the account.
This should have alerted you and sent him to one place ...

Remember!

No one, no broker, no Soros, no aliens will ever make you rich!
Only to achieve success, and everything else is deception and fraud.
Where is the main goal to deceive a person and his grief in order to earn dirty money ....

[VitKoyn]

Hi community,

A broker contact me online and asked me whether I am interested in trading online. He will manage my account and put his knowledge to make me profit but in return I have to send me 25% of profit that he made.

He suggested me to activate 2FA. and provide him username + password of exchange (for example bitfinex). Due to 2 factor authentication (2FA) he will not be able to withdraw fund he will be able to place buy/sell orders only.

Please share guys what is your opinion, It is same to play like this? or Is there any trick of capturing fund behind this scheme?

Never trust any random people with your personal informations like exchange accounts (username and password) even 2FA is activated, he can still access your cryptocurrencies and make a bad trade on that case you will lose your money. And how can you be sure that that person have a knowledge in trading cryptocurrency if you only met/know him/her online? you'll never know if he/she just want to make practice of trading using other people funds and if he gets lucky then he/she will be rewarded. For me, it is still better to manage your own trades and maximize your profit without giving percentage of your earnings on a broker, trust me you can do what those broker can do because we are all just speculating the price.

[avikz]

Hi community,

A broker contact me online and asked me whether I am interested in trading online. He will manage my account and put his knowledge to make me profit but in return I have to send me 25% of profit that he made.

He suggested me to activate 2FA. and provide him username + password of exchange (for example bitfinex). Due to 2 factor authentication (2FA) he will not be able to withdraw fund he will be able to place buy/sell orders only.

Please share guys what is your opinion, It is same to play like this? or Is there any trick of capturing fund behind this scheme?

I believe the broker who contacted you is offering PMS (portfolio management service). This kind of practice is offered by banks since ages. But when it is with banks, you know they can't run away with your money because you have regulatory authorities to help you. However, when it comes to online, I will suggest you not to believe anyone with your money. Because if something goes wrong, you will not be able to catch anyone or get back your money. So it is better to avoid brokers who offer such services online.

Hi community,

A broker contact me online and asked me whether I am interested in trading online. He will manage my account and put his knowledge to make me profit but in return I have to send me 25% of profit that he made.

He suggested me to activate 2FA. and provide him username + password of exchange (for example bitfinex). Due to 2 factor authentication (2FA) he will not be able to withdraw fund he will be able to place buy/sell orders only.

Please share guys what is your opinion, It is same to play like this? or Is there any trick of capturing fund behind this scheme?

Hallo,

If trader is the same as I think ( HedgeFX or https://bitcointalk.org/index.php?topic=2572722.0 ) , you could go safe (only risk is bad trade) . Obviously I speak of my experience, in which I invested only 0.1, but in the end I got some results and no one scammed me.
If we think well, this kind of services are similar to an ICO, where you send money to someone in the hope that this results ... With the difference that in the ICO you do not choose anything, while in managed account from a trader,  your money remain on an account of  broker of your choice that you have chosen and you trust, and you could take them whenever you want.

Do you have any proof to prove your claim here? Because I can't see any credible vouches for its services in their thread and you are claiming that you have indeed invested in their service. So a proof of your claim can come handy.

[Kawasakinamoto]

If you want to be a succesful trade be independent and don't have a broker. because a broker may steal your funds and you will not learn alot.

[ylnar123]

Hi community,

A broker contact me online and asked me whether I am interested in trading online. He will manage my account and put his knowledge to make me profit but in return I have to send me 25% of profit that he made.

He suggested me to activate 2FA. and provide him username + password of exchange (for example bitfinex). Due to 2 factor authentication (2FA) he will not be able to withdraw fund he will be able to place buy/sell orders only.

Please share guys what is your opinion, It is same to play like this? or Is there any trick of capturing fund behind this scheme?

I doubt that he is legit. In my own opinion, maybe you should know how to trade on your own and having a broker trade for you is like making the risk of your investment double. This may be a scheme of scamming rahther than helping you out. If I were you I will not trust easily on a stranger especially when it involves money.

[romero121]

What's the need for a broker, because we have got different channels to give suggestions about the trading of different altcoins. Along with that we have different exchanges that gives easy accessibility and demonstration of trading. So, I never feel it is good to have a broker for trading needs.

[Shanmatthew]

Its not recommended  to trade with a broker.this kind of plan is like a blind man.you don't know where to go.best suggested is you can trade by you're own.read about trading and practice to analyze how to the chart flow.every thing you want to ask is here just patient and read the information then adopt to you're self.

[bitcoinveda]

It's not a good idea to give your information for trading, in online investment we should not believe anyone but we have to do the trading by ourselves because if you face any loos you can look after yourself. If other person  shows lot of loos means you cannot control those emotions.

[Insanerman]

Trust yourself man, always be skeptical with these vast and wide ocean of crypto, only you can save yourself from danger, its very risky for you if you let other people handle your accounts, even if it is legit. Online communication should be avoided when dealing with money even if it is cryptocurrency deals. Be a skeptical person

[Dontme]

Better not to trust anyone here especially in online. Well, you don't his true intentions and you don't him that much unless you are friends or he is your room mate, cousin or relative. I am telling you that never trust anyone else here in crypto in that matter better to be wise and find your own strategies.

[bettercrypto]

Some is fishy with his intention to you. I suspect that the person you've talked in online is a scammer. Do not transact with him unless you know him personally. Even you know him much, don't trust with him. You can trade at your own. In the world of internet, you should not trust someone else beside yourself. If you are wise, you can trade in cryptocurrency by just viewing video tutorials and tips on how to earn in trading. Aside from that, there are no more way to earn specially, lending your capital to someone else.

[GrayFullbuster]

Of course no! It is not safe if you will buy a bitcoins through a middle man or brokers. There are a lot of scammers nowadays and it is better if you will buy on exchanges rather than on brokers.

[Indrawan77]

It is a bit odd if he is the one that contacted you then you should be aware even if he can't withdraw but he still can make you lost money, 25% fee is very big, I don't see this as a good offer, its better for you to trade by yourself or if you don't understand just hold your coin, dont become greedy and trust people so easy there are a lot of bad guy in this world

[daicavung]

If it was me, I would not agree, I can not believe anyone on the Crypto market, now a lot of scammers, I'm not saying brokers are you fraudulent but be careful above all.

[logan16j]

Hi community,

A broker contact me online and asked me whether I am interested in trading online. He will manage my account and put his knowledge to make me profit but in return I have to send me 25% of profit that he made.

He suggested me to activate 2FA. and provide him username + password of exchange (for example bitfinex). Due to 2 factor authentication (2FA) he will not be able to withdraw fund he will be able to place buy/sell orders only.

Please share guys what is your opinion, It is same to play like this? or Is there any trick of capturing fund behind this scheme?

I think that you should directly deal, not through the intermediary, this market is very complex and every transaction is anonymous so it is very risky if you ask someone to trade. Walls are constantly changing and difficult to guess so if you ask someone who is not good enough then the loss will happen to you and that person. So I recommend you to directly deal.

[hermae]

I dont think it is a good idea to give your trust to someone you dont know, especially if it involves financial things. Even if you knew that person, it is still not good to trust your funds to him. Think of a possibility like scam. He might have a hidden agenda and trusting him all your private keys is like giving it to a robber voluntarily. So I suggest dont trust this man, we dont need any third party in trading. We can do it by ourselves.