We are very excited to see this new trading app called MetaProfit for a number of reasons. Last year was very slow with new trading app releases due to Covid-19 and the price of Bitcoin going nowhere.
Now the scam artists are back in business, and creating new Get Rich Quick funnels, to hook in more unsuspecting investors.
The first step in reviewing a new trading app, is to do a search on google and see what the official site it. In the case of MetaProfit, we were immediately presented with two websites, both claiming to be the official site. We will call this red flag number one.
We signed up for this “trading app”, and instead of finding a social trading system like AvaSocial made by AvaTrade, we were immediately redirected to an offshore CFD broker. All CFD brokers must be licensed and regulated by the Financial Conduct Authority in United Kingdom. Brokerage firms that are based in St. Vincent & Grenadines or in Seychelles and mostly fraudulent companies. We can call this red flag number two.
Within ten minutes of opening a trading account the phone rings with a U.K. number. On the other end of the line is a guy with a Eastern European accent, asking if we need help making a deposit. This is a telltale sign of a boiler room operation. Check out the review of StocksViews, a new boiler room broker. We have opened trading accounts with brokers like IBKR and TD Ameritrade, and never did we get a phone call asking up to make a deposit. And this is red flag number three.
Making Money With MetaProfit
So now you are interesting in knowing how much money you will make with this new trading app. Well that is very understandable, because most people did not see the big bold letters screaming…
MetaProfit Trading App is a Scam!
Instead they some how ended up reading this review, and wanting to hear about investors that took a gamble, and made $10,000 with the smooth talking broker in Estonia.
As you can see in the screenshot above, this version of the software is promoting an investment in DIEM. If you take a moment to read the Wikipedia description of Diem you will see…
Diem is a permissioned blockchain-based payment system proposed by the American social media company Meta Platforms. The plan also includes a private currency implemented as a cryptocurrency. The currency and network do not yet exist.https://en.wikipedia.org/wiki/Diem_(digital_currency)
The Answer is, not only with you not make money with MetaProfit, you will actually lose everything you deposited.
Legitimate Trading Apps
Hopefully now you understand that 99% of the trading apps they are emailing you about, are actually a scam. Now you want to know which ones are the recommended one?
It works like this. The first step is to find a licensed and regulated broker. Many brokers offer social trading or free trading signals.
Go read the Best Brokers article, and test out a few different brokers.