How youtube bitcoin professional traders are scamming

[investerS]

I feel the urge to share this experience here probably it might help someone.
I have been trading forex for years and bitcoin dice game which i have mastered and making little profits, but few months ago i decided to start trading cryptocurrency and to begin with i subscribed to udemy training coupled with youtube training to educate myself with different bitcoin trading strategies. While in one of the channels i met some guys who made mention of the fact that its not easy for newbies to make profit with bitcoin trading and that the best thing is to have professional trader and signal provider to give you accurate signals for you to make profit and these guys are many and seems to be on every channels, some of them even testified to how they regained their loss through a trusted professional trader and signal provider and how they have been making consistent profits with the signals.
It was a nice idea to me and i was given the phone number of a signal provider called Webb Nathan +447782648398 and i sent a whatsapp message to him, he asked who gave me his number and i said someone who i discussed bitcoin trading signals with did. I told him i would like to receive trading signals from him and he said no problem, thats his business. He asked whether i have got trading with signal experience and i said yes, then he asked which broker i was using and i told him i have account with hitbtc, bittrex and poloniex. He said he will introduce me to another broker where his signals works with 98% accuracy and he introduced me to traderadvance.com, he said he will guide me through trading on that website, give me signals for 2 months and at the end of two month i give him 10% of the profit. He asked how much i want to start with, i said $500 and he said $500 is too small that i should make it $1000. So, i opened account on that traderadvance with $1K and he started giving me signals.
On that website there are 4 trading plans($500, $5000, $10,000 and $50,000), the more the deposit, the more the number of times you can place a trade in a day, with less than 5k you can only trade 5 times which is the category i belong to and with 50k you can have unlimited trading. Within a week, my account grew to $4k from $1K as the signal was 100% correct and within 2 weeks my account was over $10K but because i have a very limited number of trades i can place he started advising me to increase my deposit to the next level of $5k so as to be able to place like 15 trades a day and increase my profit, everything seemed genuine to me but i still had a doubt especially because he asked me to add more money(i knew thats scammers method) and  because the signal was too accurate, so i decided to search for review about that traderadvance broker with uk.pivot and there was a good review about them, many people scored the company above 4.5/5, i came here to search for name whether it will be mentioned in any scam but i didnt get any negative information about them, i searched for the phone number of that signal provider whether it will be mentioned in any scam but i didnt get any negative info and so i decided to add $1k more to my deposit, i knew i was risking it as something was telling me the whole arrangement is a scam but i decided to follow along and risk the amount i can afford to lose comfortably, he asked me to increase it to $5k but i told him that is all i got and by December ending i will add big money to the account. By the end of third week my trading account has grown to over 2btc something around $45,000. Then because of my doubt i decided to test the broker by placing a withdrawal and see whether it will be honoured, i placed a withdrawal and it was not paid then i chat with the customer care who told me there is a balance lockdown if one month and that i can only withdraw after one month.
Then i continued receiving the signal and when it was a month and a day i placed a withdrawal and after 3 days it was not paid and was still pending on their website despite being told by the customer care that their payment is maximum of 24 hours. I tried to chat with them but no response, i dropped messages but no reply. Then i went back to my signal provider to complain and he said he has 100% trust in them and that he has been trading with them for 3 years without any disappointment. I went back to search further about the company and i realized the UK office address placed on their website is fake, their phone number is also fake and i also later realised that my signal provider phone number was just a business number. It was then my doubt was confirmed that i have been scammed.
Then, i decided to play along with my 'professional signal provider' by telling him i want to add $48K to my balance so as to make it $50k so as to have unlimited trading per day, he was happy and he said i should quickly do that. The second day he asked me whether i have added the money and i told him i would have added the money but the withdrawal i made has not been paid yet and that once the withdrawal is paid i will add the money, he felt annoyed and went offline immediately. The second day i received a call from a man who claimed to be their legal consultant and he said he learnt i was having a problem with deposit into their company's account and that i can go ahead to do the deposit and i insisted i cannot make more deposit until my withdrawal is honoured, i asked him who told him i wanted to make a deposit but he avoided my question(i knew it was my 'signal provider' because he was the only one i told about it). The following day i received another call from another person who claimed to be for my mentoring and i plainly told him they are scammers and that after failure to pay my withdrawal they still want me to add more deposit because they have been told i have more $48K to deposit.
Since the middle of December 20, my deposit has been pending on their website, they dont reply my chat anymore and my signal provider is no more available, he is annoyed because i did not add to the deposit. It is obvious that they are all working together as they are everywhere introducing people to 'accurate signal provider', beware of them.

[coolcoinz]

He asked how much i want to start with, i said $500 and he said $500 is too small that i should make it $1000.

Because if you made say 20% on your 500 and were to give him 10% of the profit, he'd earn a whopping 10 bucks in 2 months. He wanted you to invest more not because it allows you to make money and $500 not. It allowed him to make more money and you were to take all the risk. I'm fairly sure he asks everybody to double their investment. You started low (500), but if you said 10k, he'd ask you to invest 20.

many people scored the company above 4.5/5, i came here to search for name whether it will be mentioned in any scam but i didnt get any negative information about them,

Not these people...

Fake reviews are cheap.

[investerS]

He asked how much i want to start with, i said $500 and he said $500 is too small that i should make it $1000.

Because if you made say 20% on your 500 and were to give him 10% of the profit, he'd earn a whopping 10 bucks in 2 months. He wanted you to invest more not because it allows you to make money and $500 not. It allowed him to make more money and you were to take all the risk. I'm fairly sure he asks everybody to double their investment. You started low (500), but if you said 10k, he'd ask you to invest 20.

many people scored the company above 4.5/5, i came here to search for name whether it will be mentioned in any scam but i didnt get any negative information about them,

Not these people...

Fake reviews are cheap.

You are right boss, as at the time i started with them there were many who rated them high but weeks after i have already fell to their scam i started reading very few bad reviews about them, in fact that is what really confirmed my initial feeling that they are scam and that is why i decided to place a withdrawal to confirm. One more thing is that for every 1 bad review they get, they will have 5,6,7 or more favorable reviews that will make you think the bad reviews are minimal, they have continued doing that every day till this moment. I believe they use multiple accounts as syndicate to review themself.

[milani]

Your story is a very cautionary. And it is a good example of some key things in finance, trading and cryptocurrency - learn in deep by your own the direction you are going to work in, do not trust another people the future of your assets and profit, and be ready that the technical analysis does not always works in predictions for crypto trading. Everyone should make decisions by his own, it will be the best choice.

[coolcoinz]

You are right boss, as at the time i started with them there were many who rated them high but weeks after i have already fell to their scam i started reading very few bad reviews about them, in fact that is what really confirmed my initial feeling that they are scam and that is why i decided to place a withdrawal to confirm. One more thing is that for every 1 bad review they get, they will have 5,6,7 or more favorable reviews that will make you think the bad reviews are minimal, they have continued doing that every day till this moment. I believe they use multiple accounts as syndicate to review themself.

They can make hundreds of these fake reviews a day. There are companies that specialize in this kind of work, especially in the Philippines, India, Pakistan...
The general rule in such cases is: if something looks too good to be true it usually is. If they claim they can double your money in 1 month it's a scam. If they were able to do it they wouldn't need your money at lousy 10% fee. They'd take a loan, quadruple the profit in 1 year and pay it back to the bank, leaving themselves about 380% of pure profit.

The second day i received a call from a man who claimed to be their legal consultant. (...) The following day i received another call from another person who claimed to be for my mentoring (...)

<with an Indian accent>
-Hello this is John, company's legal consultant, I'm calling to ask why you haven't deposited 50 thousand American Dollars.

-I'm waiting for my withdrawal to arrive first and then I'll deposit.

- Your withdrawal is handled by our accounting department, Sir. Please deposit money right away and you will be assigned a personal mentor.

/pokes the guy next to him/
-your turn, call him!

-Hello this is Mark, professional trader, I was assigned to work with you Sir. Have you deposited 50 thousand American Dollars?

[investerS]

You are right boss, as at the time i started with them there were many who rated them high but weeks after i have already fell to their scam i started reading very few bad reviews about them, in fact that is what really confirmed my initial feeling that they are scam and that is why i decided to place a withdrawal to confirm. One more thing is that for every 1 bad review they get, they will have 5,6,7 or more favorable reviews that will make you think the bad reviews are minimal, they have continued doing that every day till this moment. I believe they use multiple accounts as syndicate to review themself.

They can make hundreds of these fake reviews a day. There are companies that specialize in this kind of work, especially in the Philippines, India, Pakistan...
The general rule in such cases is: if something looks too good to be true it usually is. If they claim they can double your money in 1 month it's a scam. If they were able to do it they wouldn't need your money at lousy 10% fee. They'd take a loan, quadruple the profit in 1 year and pay it back to the bank, leaving themselves about 380% of pure profit.

The second day i received a call from a man who claimed to be their legal consultant. (...) The following day i received another call from another person who claimed to be for my mentoring (...)

<with an Indian accent>
-Hello this is John, company's legal consultant, I'm calling to ask why you haven't deposited 50 thousand American Dollars.

-I'm waiting for my withdrawal to arrive first and then I'll deposit.

- Your withdrawal is handled by our accounting department, Sir. Please deposit money right away and you will be assigned a personal mentor.

/pokes the guy next to him/
-your turn, call him!

-Hello this is Mark, professional trader, I was assigned to work with you Sir. Have you deposited 50 thousand American Dollars?

You got it perfectly as if you were the man . I never knew i could be scammed because i have always been careful dealing with strangers online when it comes to money transaction.

[JeromeTash]

This kind of scam is common. It looks more like a modified ponzi scheme. I keep telling people that money doesn't come easy. You have to sweat in order to earn it. You can't just send someone money and then go to sleep and expect it to multiply just like that.
Such deals end up with you getting scammed... and please, they are not professional traders but rather scammers.

[investerS]

This kind of scam is common. It looks more like a modified ponzi scheme. I keep telling people that money doesn't come easy. You have to sweat in order to earn it. You can't just send someone money and then go to sleep and expect it to multiply just like that.
Such deals end up with you getting scammed... and please, they are not professional traders but rather scammers.

Really i was not enticed by the high yield profits he promised because we didn't start our discussion based on that, it was in the middle of trading that i realized he was making a lot of profits for me with his very accurate signals, in fact it was the quick profit that made me start to doubt the whole thing more. I was only looking for a signal provider and this is because my job wouldn't allow me for market analysis.

[Lorence.xD]

Your story is a very cautionary. And it is a good example of some key things in finance, trading and cryptocurrency - learn in deep by your own the direction you are going to work in, do not trust another people the future of your assets and profit, and be ready that the technical analysis does not always works in predictions for crypto trading. Everyone should make decisions by his own, it will be the best choice.

No, this is not a case that will make learning with a mentor a bad thing. OP just got scammed by comment spammer that has a lot of bots to provide fake testimonies. I have seen this kind of scam in a Facebook group that I am in, a lot of bot accounts preaching the same testimony about trading. Of course there is nothing wrong with learning by yourself but being a lone wolf will only get you so far. Signal providers are a textbook case of trading scammers, no one knows what happens in the market, and if they say that they have an insider information about a rise, why would they give it to someone for a profit. If I know when the prices go up and down, I would not share it to anyone even for a profit.

[investerS]

but being a lone wolf will only get you so far.

This was my thought that made me decide to give the professional a trial, like i said earlier, my job wouldn't allow me to sit with my system and watching the market but i thought with him i wont be able to spend more than 15-30 minutes online in a day which is perfect for me. I never subscribed because of any high gain it promises because i know that any system that promotes such gain is likely to be scam.

[MishaSER]

This kind of scam is common. It looks more like a modified ponzi scheme. I keep telling people that money doesn't come easy. You have to sweat in order to earn it. You can't just send someone money and then go to sleep and expect it to multiply just like that.
Such deals end up with you getting scammed... and please, they are not professional traders but rather scammers.

Yes, you are really right, but every day hundreds of thousands of people learn about making money on the Internet, namely in trading, all scammers live at the expense of such people, in order to avoid this, children need to be taught financial literacy at school and institute.

[xcaret]

Oh for Christ's sake, I just read all that bull shit the scammer wrote ,give us a break . No one is falling for such a bunch of lies.
I have a hang over and it's bothering me more ,now I went through reading such drivel.

[AicecreaME]

First of all, please put proper indentions so that we'll be able to read this long story of yours better.

Now, let me give my opinion to your story. Udemy is a good online academy that offers a lot of courses which you could use in Trading, but, what you did wrong is that you carelessly trade on a platform on which you didn't fully verify if they are legit or not. In YouTube videos, just go with the platforms that are being promoted by a channel that has a lot of subscribers and google it, see if many people are using it to confirm that it is safe to engage.

[Bitstar_coin]

but being a lone wolf will only get you so far.

This was my thought that made me decide to give the professional a trial, like i said earlier, my job wouldn't allow me to sit with my system and watching the market but i thought with him i wont be able to spend more than 15-30 minutes online in a day which is perfect for me. I never subscribed because of any high gain it promises because i know that any system that promotes such gain is likely to be scam.

Some people get attracted by those high gains promise and eventually get burnt when they come in contact with reality, this guys are professional marketers trying to catch the attention of gullible investors who are seeking for easy way out, but in your own case, you already recognize that such high gains are not real,
Not all this so called signal providers actually knows it, in fact i would say that %99 of them are doing guess work, good you shared your experience here for others who seem to be hunting for signal group to learn a thing or two.

[lixer]

Bruh, always avoid all these cheap exchanges that comes out of nowhere, you have to be very careful no matter how much anyone tries to convince. Scammers are always ready to pay some desperate freelancers a few bucks to drop a lot of positive comments on their website, I have seen things like this happen, so don’t believe everything you see.

Always make use of the big websites that are already verified and trusted and have been around for years, we have Binance and Coinbase and Hitbtc, if his signals doesn’t work with any of the big exchanges, then why some useless small exchange ? Lol. And stop looking for signals, learn to trade by yourself. You just learnt a lesson and that made you wiser now.

[FIFA worldcup]

He said he will introduce me to another broker where his signals works with 98% accuracy and he introduced me to traderadvance.com,

This was your mistake to deposit fund in a unknown site. There are many scams trading platform and exchanges who will never return your money.
You could have only get the signals from that person (if you are not experienced in trading) but you should have traded on a platform such a binance.

[Jstats21]

PM'd you.

[Lordhermes]

He said he will introduce me to another broker where his signals works with 98% accuracy and he introduced me to traderadvance.com,

This was your mistake to deposit fund in a unknown site. There are many scams trading platform and exchanges who will never return your money.

Mind you and take note that this new person he is introducing you to, is still the same person scamming you, that's how they've been operating making you thinking they are of help to you while they are all aware of everything happening to you. You might be surprised they spent a lot of money developing a site that's somewhat look expensive and seeming to be too good to be true, but they all have a target to reach for them to exit out and close down their site, next time you could possibly use this site to check fake domain. https://www.whois.net/

[tbct_mt2]

The idea to rely on Youtubers for your trades or investments is rotten at the beginning.

Youtubers need traffics and subscribers on their channels. What they try to do is attract as much people as possible that will help them to earn money.

On big youtube channels, you will see many fake youtube accounts try to impersonate the real youtubers. They are scammers and you will lose your money if you follow their request. Real owners of big youtube channels are not likely to scam you with $500 or $1000 as they can earn more from their works in the long time.

Be careful at most with fake youtube accounts.

[AniviaBtc]

The content of your post is a must to read but please make it shorter and straightforward the next time you post something like this.

It is really true that Youtube is one of the most used platforms when it comes to advertising scams besides Twitter.

Also always check for a certain company before you make an action and also consider legitimacy before you deposit or send bitcoin.

Making transactions in a suspicious company is really not a good idea and never aim for an easy money or double money because that will obviously make you lose your money.