Smart Money Room is the latest trading hustle from Mr. Steven DeWitt. For the past 15 years, Mr. DeWitt has cycled through a multitude of failed and fraudulent trading ventures. A long, sad, and pathetic history of quick, one-off trading scams where Mr. Steven DeWitt claims that “anyone can easily earn thousands of dollars each week”. A supposed “real time, 100% verifiable track record” that cannot be verified. Claims to be the worlds greatest trader and 15-time world trading champion. No proof exists. A complete and total charlatan. Avoid.
Thanks for reading today’s review of Smart Money Room
What is SmartMoneyRoom? The service is a live day trading room that is owned and managed by person named Steve DeWitt. The cost of the live trading room is $197 per month.
SmartMoneyRoom maintains a YouTube channel at the attached link. TradingSchool.Org viewed all of the recorded videos and webinars. The “live” trading video’s are primarily recordings of NinjaTrader market replay, where Mr. DeWitt claims that he typically earns between $2,000 to $5,000 per week trading futures.
Steve DeWitt makes some amazing claims about his live, day trading room. On the SmartMoneyRoom.com website, Mr. DeWitt claims a fully verified profit of 135% for 2015.
In addition to these amazing claims of profits, Steve DeWitt also claims the following:
- Winner of over 15 International Trading Contests including the largest Forex trading contest ever.
- Steve DeWitt is the Author of over 100 articles for several trading publications.
- Today, professional trader Steve DeWitt threw down the gauntlet challenging any and all traders to a one-on-one $100,000 winner take all trading contest.When asked about his trading style, Mr. DeWitt stated, “Simply put, the trading system I use is so powerful that I know I can out trade anyone in the world and I challenge anyone to prove me wrong.”If you are up to the challenge and you have $100,000 to throw away, ante up and contact Mr. DeWitt directly at [email protected]
TradingSchools.Org reached out to Steve DeWitt, seeking verification of of the supposed 135% “fully verified” returns for 2015. Unfortunately, Steve Dewitt could not provide anything that verifies these amazing performance claims.
We also asked for references regarding claims of articles that Mr. DeWitt has written for “several trading publications.” Once again, none could be provided. In fact, a search of Google returned zero articles attributed Steve DeWitt.
In addition, Mr. Steve DeWitt claims that, “I am the worlds greatest trader and in the past 6 years, nobody has the guts to challenge me to the $100,000 trading challenge.
And finally, Mr. Steve DeWitt proclaims that he is the world champion of 15 international trading contests. Once again, TradingSchools.Org asked for references or articles that proclaim or reference his amazing trading victories…however, none could be provided by Mr. DeWitt.
Steve DeWitt: a closer look.
Mr. Steve DeWitt has been making outrageous claims of superman-like trading abilities for a very long time. A deep web search reveals a multitude of failed and fraudulent activities.
Prior to SmartMoneyRoom.com, Steve DeWitt owned a day trading educational company named ForexConfidential. The following link highlights, once again, his supposed trading performance.
A review of the Forex Confidential website reveals that Mr. Steve DeWitt claimed the following:
I am making 1.9% on my money every business day – so will you – it’s easy!!! We conduct meetings every Wednesday night (Wealth Wednesdays) at 8pm eastern where we talk about your wealth. I show you how to earn 20%to 45% on your money EVERY month and how to compound it daily.
Of course, a daily compounding rate of 1.9% is truly remarkable. In fact, if a person had invested only $5,000 with Mr. DeWitt and continued to compound daily for a single year, then a person would of realized a profit of $4,814,446. I dont know about you, but those types of returns get me excited.
In addition to these amazing claims, Mr. DeWitt claims that “anyone can profits thousands of Pips each month by simply following my amazing system. Unfortunately, for those that were foolish enough to believe such nonsense received nothing but losses and blown up trading accounts.
A long and sad history of trading scams…
Apparently, Mr. DeWitt has been running these trading scams for many, many years. Some of his other trading gems include, DeWitt University, where your trading dreams can come true. If your dreams did not come true with DeWitt University, then perhaps your trading could of improved with 4XRiches.com, where Mr. DeWitt once again claims hundreds of thousands of dollars of easy profits.
If my 4XRiches.com didnt work out, and you did not get rich. Then perhaps try out LearnFXTrading.com, where once again, Mr. DeWitt claims that anyone can earn $10k each month, trading Forex.
Truth be told, I have probably only scratched the surface with Steve DeWitt. The more I searched, the more ridiculous nonsense turns up on this con-artist. What seems even more pathetic is that in his most recent promotion, he touts his Christian faith and even has the audacity of posting pictures of himself and what appears to be several children. Who know if they are his kids or just some “props” that make him look more trustworthy.
Wrapping things up
Sometimes you have to laugh at the nonsense that some of these trading charlatans try and pass off. For over 15 years, Mr. Steve DeWitt has gone from fraud to fraud, website to website, leaving a trail of unhappy people that trusted him. Yet, he continues to march forward, enabled by crooked promotors like OnlineTraderCentral, that have promoted Mr. DeWitt several times over the years. Or, NinjaTrader Broker/Ecosystem that continues to provide a platform and environment where these charlatans can thrive.
Well, that’s it for today. Thanks for reading. And sorry for yet another sad and depressing story of a human turd that
continues to latch himself onto the heels of good and trusting people. Don’t forget to leave a comment below.