Launched in 2018, the Nasdaq Method is an automated trading robot, targeting ‘regular’ people, dreaming of making big profits effortlessly and fast. The software is designed for auto trading on the US Nasdaq stock exchange, where the ‘hottest’ tech stocks are listed. The Nasdaq method claims to offer passive investors, an easy way of earning up to $13,000 a month. All it takes is participation in the ‘second round’ of the free Nasdaq Method usability test. However, after reading the testimonials of people who supposedly participated in the first round of testing, we immediately suspected the Nasdaq method of being one of the many forex robot scams flooding the internet. Whilst the company behind the Nasdaq method maintains anonymity, we discovered a reference to the laws of Estonia governing the ‘terms’ on the website. Importantly, the website has a clear disclaimer saying that the content contains comments, opinions and other materials provided by nasdaqmethod.com and third-party providers, that ‘should not necessarily be relied on’. Effectively, customers who sign up to the Nasdaq method have no legal recourse, as the company warns customers not to believe anything they read or see on the website.
How Did the Nasdaq Method Usability Test Come About?
In the promotional video on the website, the alleged founder, David Campbell describes in detail, the events leading to the creation of the Nasdaq method trading app. We hear how he worked for 5 years, developing stock trading software for banks, without sharing in the huge profits. Finally, he decided to invest in a single stock with a view to making enough money to quit his job. Subsequently, he designed a specialist software, based on complex algorithms to trade the volatility in the Nasdaq tech stock markets, because it tends to beat the ordinary stock market. From his initial $250 investment on a forex platform, he allegedly made $1,267. Upon increasing his investment capital to $1,000, he increased his profits to $5,700. Significantly, his automated trading software let him make profits on both upswings and downswings in the market. Moreover, his incredible success attracted the attention of wealthy investors in Silicon Valley, who offered to pay $5 million for the Nasdaq method. However, the sale was made subject to providing sufficient performance related data, proving that it’s ready for mass market adoption. For this reason, Campbell, invites just 30 regular folks, with no trading experience, to participate in the second round of the Nasdaq Method usability test. We noticed whilst browsing the website, that the number of spots available for participation fell rapidly. But, every time we refreshed the browser, the number of spots reverted to 30, proving that the software provider is deliberately deceiving people about the places available on the test.
Registering for the Nasdaq Method Usability Test
We wanted to see exactly how customers apply to participate in the Nasdaq method usability test. Firstly, traders give their name and Email address on the home page of the website. Subsequently, they are sent a confirmation Email and taken to a second page, where they make a deposit of at least $250, with an unregulated, broker partner.
At this stage, traders must give additional information, such as a home address, phone number, ID document and credit card details to the broker. Once the funds are credited to the trading account, traders click on the automated trading button in the trading room and sit back while the auto trading software makes money automatically without any guidance or intervention by the trader. Indeed, the Website claims that customers can make up to 80% return on investment, with all profits belonging to the customers, free of commissions. Importantly, customers are encouraged to open a free Demo account to try out the Nasdaq method. However, we saw that the account is rigged to provide fake results, motivating traders to enroll for a live account and the obvious possibility of losing all their investment. Traders need to realize that automated forex trading requires some investor intervention. Moreover, even the best forex robot on the market does not guarantee profits to investors. Importantly, traders are required to select several settings in the trading room, reflecting personal trading strategies. Indeed, we have seen that many regulated CFD brokers partner with the best forex robot on the market, creating a secure trading environment.