The Authentic Trader
Steve “NitWit” DeWitt is back. And his latest trading scam is remarkably similar to the last fourteen scams. Seriously folks, this dude has been offering “get rich quick” day trading scams since about 2010 and he keeps repeating like a broken turn signal.
This latest scam, where he is offering a “trader job” on Craigslist is one for the record books. All you have to do is show up (with your credit card) and simply copy and paste the supposed 16 time World Champion trader to earn up to $50k per month. And he proclaims, “it’s so easy than a caveman can do it.”
Have no money for trading? No problem! He will give you “free money” to trade. Somewhere between $30k to $100k and “you take none of the risks, but keep the profits.” Where have we heard this scam before?
Considering this is TradingSchools.Org third article about Steve DeWitt, he is now tied with several other well-known scammers and could move into first place at any moment. Congratulations Steve.
A silver tongue
Remarkably resilient scammer
Absolutely ridiculous performance claims
Oodles of now-defunct “trading education” websites
An army of people have complained
Thanks for reading today’s update on the latest scam of Steve “NitWit” DeWitt.
Oh yes, we all know Steve DeWitt. Too many articles and too much time have been spent by TradingSchools.Org writing about this perennial “Hall of Fame Scammer.”
If there actually were a Hall of Fame for investment educational scammers — Steve “NitWit” DeWitt would have his very own commemorative. A dedication room especially for him.
Maybe even a bust, with some sort of awards, ribbons, and a plastic trophy to commemorate his many, many years of ripping off consumers.
Today, we are going to be exposing the latest scam. And also a trip down memory lane. Let’s do memory lane first.
Steve DeWitt: The Early Years
The first investment educational scam that we could actually find was a horrendously reviewed Forex educational company named ForexConfidential.com (now defunct).
This business set a world record for bad reviews. Steve DeWitt was overwhelmingly described as a “con man” and “once he gets your credit card number, the billing never stops.”
After imploding, and sucking the financial soul from his victims, he reappeared with yet another “Investment Educational” business known as 4XRiches.com. Yep, another live trading room where all you needed to do was spend $5k on “personal mentoring” so you could live your dreams of being a professional Forex trader and enjoying unlimited shrimp cocktail.
Except, according to yet more victims, it was a scam that germinated from “hypothetical performance” investment summaries. Victims were pissed off. The website soon disappeared. Yet the credit card billing continued unabated.
A few months later? Yep, you guessed it, a new “Investment Educational” business named DeWittUniversity.Org. Except this scam focused on stock options and Futures trading. Yet more victims and yet another website mysteriously disappeared like a fart in the wind.
But Steve DeWitt is an extraordinary scammer. A short time later…LearnFxTrading.com. And of course, a few months later, with yet more complaints, that website also disappeared. Are you exhausted yet? Hold on, because there is more.
Steve DeWitt: Smart Money Room
In 2016, TradingSchools.Org published our first article regarding Steve DeWitt regarding his live trading room titled: SmartMoneyRoom.com.
TradingSchools.Org caught DeWitt in emails and web promotionals where he claimed the following:
- Winner of over 15 International Trading Contests including the largest Forex trading contest ever.
- Claimed to be a University professor and awarded some sort of “medal of honor” for valor on the battlefield. Whatever that means.
- Claimed to have three black belts in Karate fighting.
- Claimed to earn $10k to $30k per month trading and “its so easy.”
- Often quoted bible scripture and professed his “deep Christian faith” as a key to his success.
- Claimed to have three kids. Then four kids. Then couldn’t remember.
Of course, no proof of any of his claims could be obtained by TradingSchools.Org.
To make matters worse, over 160 people flooded onto TradingSchools.Org and posted horrendously negative comments about Steve DeWitt that described all manner of vile behavior.
The mob ‘ate his lunch’ and the SmartMoneyRoom.Com website soon disappeared.
Steve DeWitt: YourTradingDay.Com and the pyramid scheme
But Steve DeWitt was apparently not finished. A short time later, and yet again another website appeared named YourTradingDay.Com. (we wrote about it)
But this “trading educational” business had a new twist. Instead of promoting an outright fraudulent trading mentorship, he simply repackaged it as an outright fraudulent pyramid scheme.
The scheme was entertaining and novel. He created a business where your “job” was to convince your family and friends to purchase a “day trading business” for only $9k.
This “day trading business” would supposedly earn about $100k per year and that the head of the pyramid was non-other than “professional trader” Steve DeWitt.
Supposedly, the famous World Champion trader would train everyone in the world to also become World Champion traders. And these World Champion traders would also go throughout the earth and spread his wisdom like some sort of financial religion run amok.
But we all know that pyramid schemes eventually collapse. And YourTradingDay.Com was no exception. People were pissed, they complained, and then mysteriously…the “World Champion” day trader suddenly “retired from trading.” The following is a screenshot of what consumers were greeted with when they appeared to witness the daily financial miracle.
A short time later, the website disappears — except for the billing. One consumer filed a complaint with the BBB.
But Steve DeWitt, like most cockroaches, are hard to kill. Lets talk about the latest scam…TheAuthenticTrader.Com.
The Authentic Trader
Steve DeWitt, knowing that his name is about as welcome as a venereal wart in a whorehouse, apparently decided to create a “nom de guerre” to further his enterprise.
A nom de guerre is a just a fancy french term for using a fake name. Personally, if I were to create a fake name, it would be something like Jason Bond. And name the trading service as Jason Bond Picks.
Oh wait, Jason Kowalik already changed his name to Jason Bond and created a scam with that name. Darn.
Anyway, our favorite “NitWit” DeWitt did indeed create a new name for himself…Trevor Bloom.
Trevor Bloom? Hmm. Ok, so what is Steve DeWitt aka Trevor Bloom currently offering?
According to Steve, or Trevor, or whatever…he is currently advertising “jobs” on Craigslist that purportedly pay $10k to $30k per month for a “perfect home-based business opportunity” as a professional trader.
Yep, you guessed it…give your credit card number and then attend a “live trading room” where all you need to do is “show up and click your mouse for easy daily profits”
Seriously folks, he literally states that all you need to do is “show up and click your mouse” to earn between $300 to $1500 every single day. He claims, “its so easy, even a caveman can do it.”
Have a look for yourself, the following are just two of the ads that TradingSchools.Org could find in the month of July 2020.
I am going to give you an expert tip. As a general rule of thumb, you should be wary of anyone giving financial advice on Craigslist. But do I really need to tell you this?
How the scam works…
Step #1: Run endless Craigslist ads that appeal to “work from home” suckers.
Step #2: Funnel the suckers into watching a promotional video where Steve, oops Trevor then proclaims how easy and profitable his trading. Video below…
Step #3: Direct the suckers to the TheAuthenticTrader.Com website where you the sucker will witness yet more ridiculousness regarding the supposed trading ability of the “World Champion Trader.” Below is a portion of the supposed performance…($50k per month)
Step #4: Get the credit card number. Give the sucker a song and dance story about how they should open a trading account with $500 and attempt to “copy and paste” the trades of the “World Champion Trader.”
Step #5: Since most people only have a credit card and no money to actually trade, tell the sucker that you will give them between $30k to $100k to trade “risk-free.”
Tell the sucker that all they need to do is sign up with one of the myriad of “trader funding” companies to receive the “free trading money.”
Tell the sucker, “Oh don’t worry about the fees for the funded trader program or the fees for the live trading room. Just copy and paste my trades to earn $10k to $50k each month.”
Of course, we all know that day trading is largely a sucker’s game, where 90% lose everything. In fact, I wrote an article about this.
Undoubtedly, Steve DeWitt (aka Trevor Bloom) also knows this. And since most people blow up within a few months…this fits the pattern where Steve DeWitt quickly disappears. Only to show up a few months later with yet another website, and new Craigslist ads promising day trading riches.
Wrapping things up
Writing about this perennial fuckup is truly exhausting. For years, I have been chasing this rubber dildo from website to website — writing the same story. Will it ever end?
Eventually, he will get caught. They always do. Just a matter of time. Just have to stay on his trail and keep after him.
Of course, I filed a whistle blower with the CFTC, maybe one of these days…they will take action. But I wont be holding my breath.
One last thing…thanks to one of the TradingSchools.Org readers that “outed” Steve DeWitt on this latest scam. You know who you are. Thank you.