Is BulletProof Traders a scam?
A site of BulletProof Traders welcomed us with idiotic captcha requirements. Lol. We saw a queue of robots who want to buy your service.
The site said this code was incorrect.
Having spent enough time we could reach the presentation. Let’s figure out what this company is up to.
- We won’t find any comparable service, simply because it doesn’t exist (it’s a lie and manipulation).
- Full access to our elite team of traders 24/7 (it’s a lie too).
- Transparency of trading activity.
- There’s a low monthly fee. No need to pay thousands of $$$$ anymore (it’s a manipulation. Signals have never cost that much).
- Myfxbook-verified trading results.
- The system trades outstandingly (It’s so far from true).
- The service has run since 2016 helping traders to become professionals.
- We’ll immediately gain the benefits of over 50 years (It’s a lie) of combined experience and analytical expertise.
- Email and live chat support provided.
Checking the latest news we’re found one-year-old articles that were written just to get an SEO-optimized site.
The last part of the main page is a FAQ chapter.
- Pips’ expectations are from 500 to 1000 pips monthly.
- The monthly return should be around 5-10%.
- The Bulletproof Traders team applies a strict and rather conservative risk and money management approach to their trading activities.
- The main strategy is swing trading/position trading.
- Every day they send out a detailed video report via email.
- We can learn trading with these signals.
- The team includes three traders that have united in 2014.
There’s a course based on the cross-price matrix strategy and it includes five parts:
- Introduction to the Cross-price Matrix. Fundamentals of the System
- Basic Principles and Setup Structure. The Mathematical Framework
- Mastering Advanced Charting Techniques. High-level Cyclical Analysis
- Further Down the Rabbit Hole. Cross-price Matrix Mastery Level
- Where The Rubber Meets the Road. Practical Case Studies and Live Market Analysis
The course costs $300
It’s the main account the devs promote.
It’s the rest accounts. It looks not cool at all.
Let’s talk about the first one. It’s a real USD account on a little know brokerage company called Oanda (MT4). Trading goes with 1:50 leverage on the MetaTrader 4 platform. As we can see, the total gain equals +49.54%. The monthly gain is around +3.76%, the max drawdown was 12.63%. The total deposit was $86631. Withdrawn amount of money was $55522.
There were traded 2008 trades with 706.5 pips. The average win ($39.5) equals the average loss (-$35.64). The win-rate is very low and amounts 51-55%. The average trade length is 24 hours. The profit factor is low (1.27).
The last trades show that the account is abandoned for several weeks.
Last weeks’ activities are strange as well.
It seems to us that devs tried arbitrage trading with increasing lots.
The trader trades 11 symbols. The most unsuccessful was USD/CAD that has brought -$601.25.
He trades mostly during a European trading session.
Monday is a low priority day to trade.
The account has been run with little risks.
The last two months have shown that there’s something wrong with the trading strategy.
We’ve got the second account that was zeroed today on 21 July 2020. It’s probably for a long time was the main account. The main deposit has been 4875 EUR.
The red sheet like this is the most warn signal for us about the service.
The trader has lost 19 trades in a row.
The account was dying slowly but surely.
Pricing was halved. The 1-month subscription costs $50 and it doesn’t include the cross-price matrix program. The three months package costs $110 with $108 OFF. We’ll get 50% OFF from the cross-price matrix program. The annual package costs $355 and includes the cross-price matrix program for free.
As well, the devs provide PAMM (?) service that connected to their Oanda account. We couldn’t find what this will cost for us outside the deposit.
We have to provide our card details to the site owner or register and pay via PayPal.