Vena System Review, How the SCAM Works!

Binary Scam Alerts » Scam Reviews » Vena System Review, How the SCAM Works!

Vena System Review, How the SCAM Works!

Posted on by Patrick Jones

The Vena System software by Marc Vena has already been proven to be a confirmed SCAM and worthy of being blacklisted in our fair and exposing review. However, we have received a few messages about day-traders who complained about having their money stolen. They want to understand how the scam works, and if possible to know the people behind it are. Naturally, we agreed to take this challenge and decided this is a great time to shed light on the operational aspect of this most recent dangerous scheme as most reviews neglect this information.

Official Website, Login Page, and Members Area: http://venasystems.co/

How The SCAM Works
The operational aspects of the scheme require the following resources: First, a call center with trained sales people (not financial analysts) who are very persuasive at reaching out, establishing trust, and getting you to re-invest. Secondly, they need affiliate marketers to provide the customers. It can be via emails, pop-up messages, various forms of ads, or social media. Finally they need a person who specializes in banking procedures and understands how to move money around. It can be an accountant or anyone with a banking or financial background. Obviously there is someone who manages everything, usually its a crook or just a shady personality.

venahowitworks

Once the customers are invited to participate and swallow the bait, the brokers steal the money and then split the loot it what is commonly referred to as a revenue or profit share scheme. It’s worth noting that most of the money is accrued through recurring investments which are made by clueless traders that are tricked by professional salespeople posing as legit market analysts or consultants. This broker’s staff is compensated according to the amount of money they generate for the broker, and not how much profit they make for customers.

venacycle

Credit Card Processing – How The Money is Stolen
In our unique review we have gone to the trouble of consulting with people who are actually employed in the banking sector in order to understand how the money is being stolen. The cycle of theft can be seen in the diagram above, and starts at the point of sale. When the customer provides his credit card details and clicks the submit button the money does not go directly to Visa or MasterCard. Instead, it goes to intermediaries that are called payment processors which debit the credit card and distribute the transaction fees as agreed between all parties.

For example, lets say you deposit $250. A certain percentage of that goes to the processing company, this could range anywhere between 0.5% to even 7% depending on the risk level. Binary options are considered high risk because customers complain a lot, so the processor will charge exorbitant fees for simply allowing the transaction to go through and absorbing the risk of a possible financial dispute.

Now, let’s not forget the Credit Card company itself charges a fee and the software platform also takes a cut. Let’s remember, in most cases the brokers don’t own the actual software and have to set aside a certain fee for the actual platform i.e Spotoption, or Tech Financials. So at the end of the day there is nothing left for the broker, which means the only way to get it back is by getting you to reinvest and that’s when the real problems start.

On a side note, it’s worth mentioning that many of these shady operations are used as personal cash-cows in order to launder money for shady businesses or for reasons having to do with tax evasion. The owners of these so called “brokers” are in many cases unsavory characters with a checkered past and a propensity to commit crimes such as credit card fraud and identity theft. We have poked and prodded while trying to find the real identity of the people behind Vena System, and we came up with partial and unverified information so we prefer not publicizing our initial findings at this point. We do know the affiliate marketers operating behind the scenes and its not just one network, rather a collection of less-than-ethical cyber crooks that have made a strategic decision to deceive and defraud innocent day-traders.

Complaints Keep Mounting
As expected we are getting additional complaints and it’s not looking very promising for this new system. As the dots start to connect the picture we are seeing is very grim indeed and we can guarantee you will find no assuage. In fact angst and bitter frustration is what you can expect if you have invested in this fake app and trading robot.

Vena System Software Review – Brief Recap
Marc Vena is allegedly one of the world’s “leading online mentors”. This fake actor and cheater is now offering you an guaranteed way to make $5,000 daily for life. He wants us to believe his system will change your life and you can make a ton of money on auto-pilot while you live your life. He also claims his system is 100% risk free and the profits are guaranteed.

We have heard this kind of hype before and know that nothing is guaranteed especially in online trading. We also know that trading is very risky, so that should be enough to get you steering in the opposite direction. Additionally the system is NOT free and you will end up paying at least $250 for it. This money will be charged to your credit card by one of their slimy brokers.

Similar SCAMS Trending Now
The ones to avoid these days are Rubix Project and Tesler App.

Signals Versus Trading Robots
If you are looking for a legit trading app please make sure to check out our recommended section. We have done the research for you so you don’t have to.

recommended systems2

Review Summary and Conclusions
The Vena System software by Marc Vena is a SCAM and we had no choice but to blacklist it in our fair and impartial review. If you believe this system to be genuine you had best be ready to have your money stolen by a band of savvy internet swindlers and affiliate crooks. We have already proven that Vena System is a scam in our previous review and investigation, and this article sheds additional light on how the operation works. We have done our best to answer your questions and provide you with valid insights into the inner workings of this fake app and auto-trader. As always, should you have more questions or queries do not hesitate contacting us through our Facebook Group and YouTube Channel.

Tagged with:
  • Mark

    Wow, I really didn’t realize all the stuff that goes on behind the scenes. Wow this break Lynn puts into perspective!

  • Chrissy

    Tell me something, are all brokers out there hoping you lose? Is that the only way they make money or is it just the scammers that want that?

    • Hi Chrissy – no there are some decent ones out there but you have top know which ones to pick