Calloway Software – legit or scam?

  • This topic has 5 replies, 1 voice, and was last updated 5 days ago by Steve.
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  • #183559 Reply
    Paolini_29421

      Are Calloway Software a reputable trading company? The specialiy is trading Bitcoin volatility and they have testimonials from clients who have made serious wedge. They are running a $250 bonus at the mo so fast responses would be great…

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      • #183827 Reply
        James Barra
        Moderator
          DayTrading.com Team

          Hi Paolini_29421,

          While we have not evaluated Calloway Software in full on DayTrading.com, I have been looking into the firm today after seeing your question, and I would exercise caution.

          This is for several reasons:

          • Calloway Software is not well known in the industry and lacks a large, verifiable client base. Instead, I found multiple complaints from users who suggested they have been scammed by the company.
          • I’ve found zero evidence that they are regulated by a trusted financial body, such as the FCA in the UK or the SEC in the US. And despite claims on their website that they have “reputable and regulated partner brokers”, I haven’t been able to find out who these partners are so that I can verify that they are indeed regulated.
          • Their marketing includes worrying phrases like “You could make insane profits” and “You can earn up to $500 on the first day”, with limited information about the risks of online trading, especially in the crypto space (which are extremely high).
          • They claim to have been seen on well-known publishers like the Financial Times and CNN, however I can’t find these materials or any mention of them on the websites of these publishers.
          • There is very little information about who owns and manages Calloway Software, which raises concerns about its legitimacy and accountability.

          I would also think twice about choosing a trading firm based on their bonuses, which are not permitted in many tightly regulated jurisdictions, including the UK, Australia and Europe.

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          • #183862 Reply
            Paolini_29421

              Ahh, ok. What companis good for trading bitcoin volatility then?

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            • #183868 Reply
              James Barra
              Moderator
                DayTrading.com Team

                Hi Paolini,

                Our guide to Bitcoin trading lists our top rated brokers with opportunities to speculate on the volatility of BTC.

                However, I would emphasise that trading Bitcoin is high risk so make sure you have a risk management strategy and don’t invest more than you afford to lose. A demo account may also be a sensible place to test a Bitcoin trading strategy.

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            • #184000 Reply
              Paolini_29421

                Ok I’ll take a look. I’ve heard of some of those firms like etoro.

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              • #184197 Reply
                Steve

                  I personally would not be depositing any money with this firm.

                  “This trading system has an extremely high win rate. The majority of those who try it report great profitability.”

                  If it sounds too good to be true…

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