I have alot of facebook friends talking about BeWiseTraders money making scheme.
People have posted about how much money they have made and how great it is.
I watched the long video explaining the business.
98% of the presentation is about describing the referral payment system. If this was a legitimate investment surely it should be explaning how anyone can afford to deliver a instant return on someones money of around 30%, and explain why they need investment in the first place as if they truely have a great betting system then they can surely increase their pot without involving external investment.
They wont let you remove money from the scheme easily you have to use some strange hop. Again this is suspicious as why cant they support paypal or worldpay and other grown up payment systems that are very easy to incorporate into a website.
BeWiseTrader looks like and smells like a ponzi scam.
If you look up the website owner its listed as private, and has a dummy looking email address.
These are not signs of BeWiseTrader being a real trading company.
So what is BeWiseTrader likely to do with the money ?
Well they are most Likely paying the first to register with new money taking from sign-ups. They will keep doing this for a while until they get so big they can kill the company and keep the money within and disappear.
Thats my 2 cents worth on BeWiseTrader
UPDATE : September 2015 - as i suspect BewiseTrader has stopped paying people out and now looks like the scam i had suspected.
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