Welcome to the Global Profit Technologies review. The official website can be found at glpt.io and the project’s operation is overseen by one Joseph Nemeth.
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Global Profit Technologies is also a publicly traded company under the symbol GLPT.
The company has developed a standard ERC20 token known as Global Currency Unit (GCU) which is set to launch soon.
In addition to this, Global Profit Technologies is offering automated trading software for Forex (4X-DAT) and Cryptocurrencies (Crypto-DAT) respectively.
They claim that Crypto-DAT is still under development and that for traders and investors to access either of their automated trading software, they will need to subscribe using GCU tokens.
I GCU token is an equivalent of $1. One month license fee for the Crypto-DAT software is worth 1,000 GCU or $1000.
An annual license fee for the Crypto-DAT software is worth 10,000 GCU. A lifetime license costs 100,000 GCU.
Global Profit Technologies has partnered with a highly controversial and potentially scam Forex broker, Automata FX, Ltd.
Automata FX, Ltd claims to provide traders with institutional-grade execution and liquidity.
The automated trading platform run by Automata FX is powered by GLPT’s 4X-DAT® technology.
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The broker is currently allowing traders and investors to work with them through Managed Account offerings or personal trading accounts which come with trading strategies that users can download.
With such a massive and elaborate Crypto project that Global Profit Technologies is, many people are wondering whether this is a genuine investment operation or a typical run-of-the-mill ETH scam.
That’s the question we’ll be addressing in this Global Profit Technologies review.
Global Profit Technologies review
The whitepaper of the company does not provide information about the team members. It only mentions the founder, Joseph Nemeth who claims to be a trader and software engineer with 15 years of experience.
In fact, Joseph claims that he has been trading a variety of instruments which include Forex, Futures, Equities and Options.
It’s quite difficult to ascertain of truth of his track record as none of this information is verifiable. For example, we don’t have proof of successful trading on his website or his past projects either.
So whether he is a professional trader or not is something we are not able to confirm.
Him and his team have allegedly worked on automated trading strategies that will give traders an advantage in a market created to profit from the losses of traders.
4X-DAT and Crypto-DAT software for trading
These are their two main products with the exception of Crypto-DAT which is about to be launched.
They claim that 4x-DAT is an advanced, fully automated Forex trading solution for all Forex traders.
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Joseph claims that he has put more than 50,000 hours in programming 4X-DAT software. He claims to have worked on the technical analysis, live testing, and experimental trading after creating 80,000 lines of programming codes.
The 4X-DAT trading software is fully customizable with multiple options for trading trends and ranging markets. Traders can set their take profit and risk level tolerance.
4X-DAT also provides unlimited number of trading strategies. Joseph Nemeth claims that this is the closet thing to the ”Holy Grail” of trading.
On the other hand, the Crypto-DAT is designed to trade Cryptocurrencies. They claim users will enjoy hedge fund level automation.
Global Profit Technologies GCU Airdrop
On the official website of Global Profit Technologies, they claim to offer advanced trading tech for a new era. The software in question (4X-DAT) is being offered for free as long as users hold GCU tokens.
The tokens will be distributed to exchanges where they can be acquired by third party.
The company also claims that users will receive free airdropped GCU tokens when they spread the word and invite people to the airdrop.
To get started, users are required to download a special Crypto wallet and insert 25 emails of people who might be interested in GCU tokens.
Once the emails have been confirmed, the company will immediately load the user’s wallet with free GCU tokens.
Is this a scam?
The value of GCU tokens can only increase if Global Profit Technologies has achieved its purpose. The main goal of this company’s operation is to distribute revolutionary trading software for Forex and Crypto trading.
They say that only their 4X-DAT software is ready for use and that Crypto-DAT software will be ready in the coming days.
Therefore, the value of GCU tokens is solely based on trading software and the stocks of this company which are publicly being traded under the symbol of GLPT.
In the next few months, users will acquire GCU tokens by actually spending real dollars to get them. But as soon as investors have bought these GCU tokens in quantity, they’ll want to sell them in what is known in the Crypto circles as a pump and dump.
Actually, the reason why Global Profit Technologies wants as many people as possible to be involved is because they want to drive the price up.
Holders of the token can then sell to unsuspecting investors who have no idea how token economics work. Soon these investors will be left with nowhere to convert their GCU tokens back to dollar money.
In the end, Global Profit Technologies may end up exiting the scene just like many exit scams have done. This is a very common thing in the world of ponzi scheme and ICO/airdrop.
Thanks for reading this Global Profit Technologies review. You should exercise caution when getting involved with this company’s products or services.
You should use these guidelines to determine whether or not this company is actually intending to scam investors in the long run.
9 Responses to “Global Profit Technologies Review: The Joseph Nemeth Scam”
With regard to your November 9, 2019 Global Profit Technologies Review: “The Joseph Nemeth Scam”
For transparency, it is important for your readers to understand that I have purchased shares in Global Profit Technologies Inc. (GLPT) … the company who developed the 4X-DAT Platform that is currently used to trade currencies through the AutomataFX brokerage.
I initially purchased a license to trade their 4X – DAT ™ Software with FXCM In November of 2014.
While trading with the software, the value of our account was found to be increasing exponentially… with a significant increase in trading volume (Open Trades), until FXCM decided to move the goal posts on us during September of 2015 and hit the account; unnecessarily with margin calls.
2015 proved to be a particularly bad year for my wife and I; as the margin calls to our account with FXCM resulted in a substantial loss of our retirement savings.
I had been laid off prematurely from my job in Australia, and we had also despaired to learn that one of our family members was suffering from a serious health issue.
Joseph Nemeth; whom had developed the 4X-DAT Software, was of great support to us during those rough times whereby he encouraged us to transfer what remained of our account… over to their new AutomataFX brokerage.
We have now been trading with AutomataFX since October of 2015 and have recovered the losses that we had experienced with FXCM.
As my wife and I have now retired, we currently remain invested with one of the AutomataFX Fast-Track Managed (Forex) Accounts and have been receiving regular quarterly returns which we are using for income.
I am unsure where Joseph is going with his new Crypto currency venture and the development of his software to trade on their proposed Global Exchange… however we personally have no reason to believe that it is a scam.
Zealander, May 3, 2020
Hi Carl, do you know what is happening recently there is an issue with withdrawals at Automatafx..they said they are changing their bank. I requested a withdrawal since January 2020 but did not get my money yet..
I had the exact experience as Carl here
I became a client in 2015 and used the 4X-DAT with FXCM as a broker. I also run into problems with margin calls because of their B book operation.
Joseph helped me out and I moved my funds to Automata FX.
Since then everythings been fine. No more margin calls!
He even called me when I wanted to discuss my accounts and how to upgrade to the new Fast-Track Managed Accounts.
My initial deposit in 2015 was $60000.
Since then I’ve made $200000 in profits and I did a withdrawal of $80000
I can tell you fo sure that Automata FX is NOT a scam.
Im trying to wirhdraw my money since January 2020. This is what i get from them since:
The UAE bank has limited the number of transactions. Our Managing Director is working to resolve the issue with the bank.
The virus situation has made traveling to the UAE extremely difficult to resolve the issue in person which the bank insists on doing.
The withdrawal will be processed once the issue has been resolved.
Same situation and same answer for me… waiting since Jan. 2020
I was made aware of the [supposed] banking problem in February 2018. It does not take some two and a half years to resolve a banking problem! A couple of months ago I applied to Automata FX for a $6000.00 withdrawal, Wow!! I was presented with all the excuses, including the ‘Banking One’ and the ‘Covid 19 One’ et cetera. After many emails between Client Care (ALL mail is passed back to Client Care) and myself I cancelled my $6000.00 request and asked for closure of my account and for all my monies to be repatriated to my Bank Account. At the moment I am in ‘Limbo’, no one at Automata FX will communicate with me. Please draw your own conclusions. Incidentally, I am eighty (80) years old and registered blind.I consider the actions of the controllers of Automata FX to be despicable. If anyone is aware of a means of resolving the Automata FX none payment situation I will appreciate a ‘heads up’.
Global Currency Unit and DemocracyApp
Your review doesn’t mention the DemocracyApp.
The main use of the GCU will be a payment method for ads placed in DemocracyApp.
GCU’s buyers will be, in the short run, ads buyers.
This app is totally trash. Nothing is happening for years now. Just a simple UI and nothing. I’m sure this project is a scam. GCU tokens are not listed anywhere and have no value at all.
I have account at 4x dat but I can’t find the site, were do o log in, I have lot of money invest. Where do I contact to get my money.