In this review we warn against the Local Trader scam which was designed to reduce your capital.
Its presentation doesn’t exactly say how much, but Local Trader testimonials you can see on its page talk about multiplying your money in just one month. Is it real, though?
Local Trader is a scam
No, nothing about Local Trader is real, because it is just a financial scam that was designed to enrich fraudsters who run it.
This notion of free or cheap automated trading systems that will make you tons of money is absurd. Just think of it, why would someone give away their profitable trading system, let alone for free?
Local Trader certainly cannot deliver on its promises, in fact, it will do the opposite.
Local Trader testimonials
Because they are totally fake, made up with stock photos. We prove that on our picture, just have a look.
The Local Trader scam has become so infamous that even the Italian financial regulator CONSOB has placed it on its blacklist.
How the scam works
The basic principle of Local Trader is the same as with most of the investment scams we review. They try to make you believe they can make you money, because they want to make their affiliate commission when you deposit with a broker they point you to.
They will force you to deposit money with their partner broker which is unregulated and dubious. This broker pays them for sending new victims who will send their money.
If you send them your money, they will keep pushing you for more deposits, showing and promising you fake earnings and never let you withdraw anything. This is how it works.
Local Trader review conclusion
Local Trader is a dirty scam that will try to make you send money to an unregulated broker so that you lose it. Don’t do it!
If you want to try financial trading to make money, start practicing on a free demo account with virtual money to see if you manage to be profitable.
Before investing real money you have to build a profitable strategy and understand the risks.