Scam Reviews

Profits Today is a Nasty Scam

December 1, 2015 by Patrick Jones Leave a Comment

In today’s review we will be looking at one of the most recent and elaborate SCAMS put together by a very talented group of marketers – Profits Today.

Profits today posts “live trades” from today, however the way it’s happening is not realistic, illogical, and can not happen in real life because this chart is fixed on one parameter which shows consistent growth. In reality one would have fluctuations, I mean everything in life has ups and downs (even my relationships ;-), but that’s another story).

Anyways, this thing has con job written all over it. If you are in the mood to get ripped of by all means feel free to register for this service.

Furthermore, if you look at the second page you will see an instructional video. The person reading the script is advising you to fund a banc de binary account, but for some unknown reason a GTOptions account is displayed and an auto-trading feature is opened (kind of strange).

Technically speaking, you need look no further. Everything you need to make a decision is there and waiting for you. Strictly speaking, much like most of the schemes available these days this whole business is starting to look like one big cesspool filled with all kinds of swindlers and deceptions. If you want more proof this is a scam please feel free to contact me directly by leaving a comment below and I will also guide you as to how you can actually make money in this ruthless yet potentially very profitable profession of binary options trading.

If you want to go solo, by all means make sure you allocate a certain amount of cash you are ready to lose (similar to what you do when you go to a casino to roll the dice or shoot craps). Please note, there are a lot of so called Gurus out there pretending they actually know something – I personally don’t mind all that but would also like them to come out and be completely transparent about how they do things because I believe that while it’s OK to refer people and get paid for it, there are a lot of innocent people out there who really have a hard time making it through the day and have major bills piling up.

I believe everyone has a right to dream, it’s what keeps us sane at the end of the day. But when reality hits and someone on the other side pushes you to spend your savings or pension it’s not something that should be taken lightly. So if you are down or just want some advice feel free to hit me up no problem, even if I’m busy I will always try to respond.

So, just a quick recap on this Profits Today Review. I honestly believe it’s one of the less sophisticated scams out there today, and I strongly recommend you think twice before investing through this system. Furthemore, before investing you need to make sure you are dealing with regulated brokers like OptionWeb who have a good reputation for paying out withdrawals promptly and also take the time to respond to questions, even if they are not directly related to depositing. A good alternative would be www.thebinaryprofitmethod.com, at least you can choose your broker and minimize your chances of getting ripped off.

I wanted to thank you for taking the time to read this article and if it helped you make a more educated decision about trading drop me a note below.

XTP APP Scam is a Scam and Fraud

December 1, 2015 by Patrick Jones Leave a Comment

So here’s another review of fraudulent scam software and someone trying to get you to think that with €250 you can amass a wealth of €116, 852. Guys, please try to use common sense before risking your hard-earned money.

Now, I’m assuming that for a lot of you €250 is not a small amount of money, so instead of wasting on some quick cash scheme try to use it in a more constructive way – for example get career counseling, have your CV polished by a professional, or pay an HR company to find you a job suitable for your skills. Better yet, if you are in the entrepreneurial mood, try building a business plan, just make sure you consult the right people (start with friends and family first).

Now, a word to the wise, whenever you start getting a barrage of emails from various sources assume that your email is being passed around by various promoters. Some advertisers build their whole business just by soliciting your email and then passing it to other marketers who hammer out daily offers trying to get you to open an account and deposit with a binary options broker.

So, if this was a legitimate offer like buy an Adidas shoe online at a 10% discount that would be one thing. Because you know exactly what you are paying for and what you’re getting in return. In this scenario, the people behind the XT APP are offering you a way to make over 100K with a capital that covers a dinner for a family of 4.

That is the main issue I have behind people who promote the XT APP or similar “get rich quick schemes”, and the reason I take the time to write these reviews. It infuriates me to see how normal working people who can barely pay rent and feed their kids get swindled by these rogue online hooligans.

I’ve been receiving many emails about how you lost your money and the level of frustration you experience. The way to deal with this is learn and move on to make a serious change in your life. Stay close to your loved ones and don’t ever forget to tell them how much you love them, because in times of need these are the people who will be by your side and not the anonymous thieves who will disappear the second they understand they can’t milk you out of your money anymore.

Still, despite everything that is being said and done every now and then there is a good system that comes out and actually makes profits for the people using it. If you are interested in a really good signals tool I recommend the Steve Nichols’ Binary Profit Method system. It’s also integrated with honest and regulated brokers.

If you are interested in an automated trading solution I can recommend Virtnext, since it is a consistent performer and has gained a great reputation with both experienced as well as amateur traders. If you need any further tips or guidance concerning trading, (specifically contract types, asset selection, investment amounts, strategies, and brokers) feel free to contact me by leaving your details at the comment section and asking me directly what you need or want to know before getting your feet wet.

To conclude this review, the XTP app is pure SCAM software and if you really want to start profiting from binary options make sure you are using a regulated broker.

Don’t forget to leave a comment and share your thoughts!

Binary Arrow Scam Review

December 1, 2015 by Patrick Jones Leave a Comment

Whenever I see something like “create a life changing cash flow” I take a step back and try to see what someone is trying to sell me, and in most cases it turns out to be a scam or someone is getting paid on the back end. The presenter of the so called Binary Arrow trading method is someone calling himself David Baxter.

I tried researching his profile online, and guess what? I found nothing, which usually means that person is an actor using an alias or a really old school person that hates everything tech or internet-related. This review will prove the former of the two to be the correct assumption.

Just as I was listening to the testimonials I noticed a familiar face, so I started checking out some sites and found proof that one of the people providing them is an actor (see above). Needless to say I wasn’t shocked, just amazed at what people are willing to do in order to promote their so called “money making systems”. Furthermore, after looking at the “as seen on TV logo” I tried seeing any mention of this on Television, but was unable to. At this point I decided to stop my review and ask a different and more troubling question. This marketer has prominently displayed “binary brokerz” as someone providing him certification. Furthermore, after looking at the “as seen on TV logo” I tried seeing any mention of this on Television, but was unable to.

At this point I decided to stop my review and ask a different and more troubling question. This marketer has prominently displayed “binary brokerz” as someone providing him certification.

Now, I’d like to give the broker the benefit of the doubt and assume they not sanction this form of sponsorship. However, if they did I would consider this broker to be no less of a scammer than the advertiser as they would be knowingly misleading common people to invest in what is obviously a rip-off.

To sum up, there are a few legit systems out there and a ton of con artists and scammers that will try to get you to invest with a broker of their choice. Still, with everything that’s going on these days there are a few systems that employ signals or automated trading tools (i.e. algorithmic or algotrading) and achieve a significant return in investment.

These systems are usually not promoted as heavily and may be more difficult to come upon. However, in this field of expertise high exposure does not necessarily correlate with a high success rate, so you may need to dig deep to find systems that will perform for you as well as integrate with reputable brokers like Cherry Trade, Tradorax, or Optionweb.

It’s very easy to tell the difference, the scam systems like XTPApp or MockingBird will ask you to register without letting you know the name of the broker you are signing up for, it will only be revealed you after you complete the registration process. The good systems will let you choose from an assortment of recommended brokers, and will usually have some types of reviews that are available for you so at least you can make some type of informed decision about who and where to invest your money. Because at the end of the day that is where you will deposit your money as well as get a paycheck from.

To conclude, you need to ask yourself if this is what you really want or are you willing to work harder and do what it takes in order to profit from binary options trading. Because there are ways to do it, they are just not as easy as push-button and get paid. Honestly, nothing in life is like that, but if you are willing to invest the time I can steer you in the right direction. If you are interested in learning how its done just leave a message below.

Dow Jones Focus Group is a Big Scam

December 1, 2015 by Patrick Jones Leave a Comment

Recently I’ve been receiving a ton of emails from people soliciting me to invest in this scheme called the Dow Jones Focus Group, so I decided to review them since I have been getting a lot of scam complaints.

First of all, there is no Jeffery Richards, its just an alias used by online marketers to attract every day working people much like you looking for a legitimate way to make money online. This has been re-confirmed multiple times, feel free to Google his name and references.

Secondly, the so called “Equinox” trading software is just a rehash of existing older software, re-branded to give you the feeling of something new. It really does insult my intelligence when people try to sell me the same thing

It’s easy to see this because these marketers will most likely promote GTOptions as the leading broker, that is due to business-related issues. Not to say it’s a bad broker (quite the opposite is true), it’s just not one of the best ones these days, and it’s lacking regulation.

Furthermore, it’s not very intelligent naming a software after one of the most well known chain of fitness centers. Granted, it really sounds good, but has nothing to do with working out or going to the gym.

To continue, analysts don’t develop trading software, it’s computer programmers and engineers and these guys will most likely work for bigger companies like Citadel, Goldman Sachs, or Dean Witter. You also have great guys working for companies that specialize in HFT (high frequency trading) and algorithmic trading, which is really where the big money is. But binary options are such a small niche that you have second grade programmers rehashing old code to make it look legit (Nadex and CBOE excluded).

Moving forward, these guys promise you profit and easy money just by pushing a button, but this just doesn’t work in the real world. I’m really sorry to burst your bubble and be the proverbial wet blanket, but chances are they just want you to open and fund your account so they can get paid on the back end by the brokers.

This is really good for the marketers, and to a lesser degree to the brokers who end up paying exorbitant fees for disgruntled clients just wanting to try out a new system because they really don’t have that much money to invest in the first place.

I mean, let’s be real – people who have the money to invest go to an investment banker and cough up a minimum of $100,000 for a legitimate yearly ROI of 5-8%. If you have less than that, it’s best to invest it in some form of small business and get a cash flow going. Another alternative is just getting paid for filling out surveys, it’s not a lot of money but at least you don’t get scammed.

To conclude, this Dow Jones Focus Group and Equinox software is just another in a long series of scam trading systems designed to solicit your initial investment. Generally speaking, there are far worst systems and at least the trading activity and investment amounts are being displayed and you know your win/loss (success) ratio immediately. But at the end of the day its a mere facade of aggregated and random data rolled up in a way which is designed to create a false perception of authenticity and legitimacy.

Leave a comment, tell me what you think on Quora

Master Snipers Trading Scam Review

December 1, 2015 by Patrick Jones Leave a Comment

So here’s another bogus binary offer I’ll be reviewing from the house of scam central. It’s very plain to see that the creators of this offer don’t understand how to present a new system. While the actual software appears to be legit as well as easy to use, the introduction video is conducted more like a sales pitch as opposed to a serious product.

First off, I’d really like to say that there are so many systems out there offering insanely high payouts and easy ways to profit and make money, that sometimes it’s terribly difficult to weed out the chaff. In fact, the legitimate systems suffer severely due to all the scams that are being offered today to anyone who can afford a $250 initial deposit fee in order to fund a trading account. Now, A few words about Victor Sperandeo (AKA Trader Vic). This guy doesn’t need anyone’s tools or systems, he invented his own and has been a successful trader and guru since the 80’s. Unless he invented this tool, something I highly doubt since he is not promoting it anywhere.

He even wrote books on professional speculation and Wall Street trading methods. The guy is a walking legend and is a fully fledged member of the pantheon of the ultra rich self-made fat cats. I mean the guy is practically so rich he can buy a small country if he wanted to. Now, this is the guy they say is using their system to trade binary options and deposit funds with their recommended brokers. One would have to be completely clueless or naive about how today’s more advanced systems operate.

Here’s the Real Deal:

Most of the trades these days are executed via high frequency trading techniques and rarely have anything to do with binary options trading. This field is dominated by advanced mathematics, quantitative finance, a-linear algebra, theoretical physics, statistics, and computer science. The people who control trading today are exceptional individuals called quants (quantitative analysts) like Paul Wilmott . Anyone telling you something different is either clueless or has a hidden agenda.

Now getting back to the Master Snipers System. In all honesty, its extremely difficult to make significant amounts of money with such a small initial investment amount and if you really want to make the big amounts you need to change the way you think, act, and present yourself towards the people around you. If you want some tips about how to get started feel free to contact me directly by leaving a comment at the bottom of the post.

Now, moving forward the video claims that the system can make you between $4,000 – $4,500 a day. So let’s do some simple math, if you do a minimum trade of $25 you would have to make 160 successful trades according to $4,000/25. Now let’s say that not all trades will be ITM (in the money), so instead of winning you will in fact be losing your initial capital and giving it away to the brokerage.

So the main point is that, $250 is not enough to make 4K because you will have a capital (bankroll) issue and will have to do one of two things: The first option is to re-invest (that is what the broker will tell you to do). The second option is to cut your losses and move on, which is probably the smarter choice of the two options listed above.

So here’s the verdict, the Master Snipers Trading system is most likely a scam perpetuated by less than savvy marketers trying to get you to register and fund a BigOption trading account. If you are looking for a serious system or honest broker simply refer to the relevant section of my blog and subscribe to our email alerts service.

Don’t forget to share your thoughts below.

Channel Ranger Scam Review

December 1, 2015 by Patrick Jones 4 Comments

Bounce a ball and make between $6,000 and $11,000 a week? This Channel Ranger Scam is really taking it to the next level, and this review will reveal how these deception tactics work and why it’s crucial to stay away from these types of programs.

News Flash: There is absolutely NO connection between sports an any form of profit with binary options. The only relation is that similar to betting on sports, you can do the same with binaries, only your chances on winning with sports are higher (unless you are using very specific systems that are not heavily advertised). Furthermore, there is no Devin Miles, it’s most likely a second rate actor with a foreign accent (apparently Australian).

Update: Channel Ranger is currently being promoted under different names but it’s the same software.

Moving forward, as I mentioned previously there are 5 criteria or parameters that you must consider before choosing a system. Channel Ranger scores zero across all 5 of them, and has de-facto become another in a long line of scam products offering a collection of sound bites and sales pitches that appeal to the mass audience (that would be you).

Here Are the 5 Criteria:

Transparency: Channel Ranger has NO TRANSPARENCY! You don’t even know what you are buying or getting into, it’s pretty much nothing wrapped up in illusions of wealth and financial freedom. The only thing you see are the so called results (see below), but not how to operate the tool.
Accuracy: You can’t know how accurate the system is, or have some form of proof regarding it’s level of performance. They give you the results, but the information is incoherent and illogical. There is no mathematics or some kind of numeric validation in the form of algebraic equations that support winning claims.
Reliability: Excuse me? I can’t even see what system is being offered. Maybe it’s presented after registering, but why would anyone signup for anything before seeing it?
Simplicity: Yea it’s very simple, just join and lose your money.
Assistance: Maybe? I sent an email to the address below asking how the system is designed and what is the logic behind it, I have yet to receive any form of response.

So, on the left side you will see the “so called” income statement”, also referred to as proof of wins. If you register you will see that if you try clicking on the other tabs like main panel, you will not be able to navigate. This is because the developers of this system don’t want you to have access to the user interface before registering and funding an account with one of their recommended brokers (in most cases it will be banc de binary, unless you already have an active trading account there).

Another red flag in these systems is that they will never let you choose the broker YOU want. In fact, in many cases this information will be presented to you in a “by the way” fashion so as not to get your resistance. More transparent software will display the brokers for you in a clear way and allow you to choose the broker you want to work with and offer. They will also offer instructional information and training, similar to what is displayed below. Remember that at the end of the day you will deposit and receive wire transfers from the brokerage you partner with, NOT the software providers.

To sum up this review, the Channel Ranger (colorful name) is just another scam with the same promises of riches and wealth, but nothing solid to back it up. Just stay away from this thing, and if you are looking for an alternative or secondary source of income just check out the recommended software section.

If you have other opinions please let me know about it and leave a message below.

First Class Profits Scam Review

December 1, 2015 by Patrick Jones Leave a Comment

Got some complaints so decided to review First Class Profits, and guess what? It’s another scam, this time it’s not very elaborate. You have some guy named Mike Taylor talking about how he created a system that makes him on average $3,000 a day.

I really thought about doing a comprehensive check about this system because it potentially has all the makings of a solid trading tool. It provides real time statistics, charting, and it even looks easy to handle and intuitive. However, they employed cheap actors from Fiverr and here’s all the proof you will ever need:

This actor goes by the name of Banjoman15, and is consistently hired to do fake testimonials. By the way, I’m really happy for him because he’s one of the only few honestly making a secondary income from binary options (even if it’s not 3K a day). I have to admit, these guys take extraordinary measures and spend significant amounts of money on programming and advertising, but they don’t take an extra minute to think about doing something that works and having real people give honest testimonials about how they were able to profit (even if it’s small amount) using the advertised software.

The point is that it can’t work, because that unlike a regulated exchange or Forex broker that utilizes a spread model, in order for the broker to profit the customer (that would be you) has to lose his money. This was very eloquently said to me by one of my followers and here’s what he had to say.

“Hi Patrick, thanks for your thorough review but i’m still not convinced that certain systems like are safe and sound because it has got to do with binary options take Rumelia Options for example. In my opinion binary options are noy real financial instruments such as stocks, commodities, futures, options (real), Forex,etc.

A binary option broker is a closed casino system, and it looks like very official because these brokers use the official quotations of the financial markets but are not connected to them in reality. So these brokers won’t allow you to make big profits in the long run because they would become bankrupt.

This is true as long as your profit has to come from the loss of other clients and maybe money from the broker itself. As I mentioned previously, it’s a closed system and the profits don’t come from the official financial markets.

In Forex for example if you choose a STP/ECN-broker, not a market-maker than your interests and the brokers interests are the same if you make profits than the broker make profits. If I’m wrong well I hope to hear it from you so that I can change my opinion and make good profits with binary options.

Best Regards, Bren”

Shocking news right? Well, let’s get a few facts straight. An STP or a Straight Through Processing broker will route some or all of the orders (contracts) directly to the market based on market rates and make his profits based on the margins. An ECN or an Electronic Communications Network allows you to see the actual prices displayed and the order according to the market rate. You trade with other traders and/or financial institutions but not against your broker.

Despite everything that has been said and done here, I know some of you are still looking for various systems that will make you money. Believe it or not a few exist, but they are usually reserved for what I call “friends and family” because if everyone has access to it the brokers will go bankrupt.

Share your thoughts, please leave a reply below.

Elite Gold is Just Another Scam

December 1, 2015 by Patrick Jones Leave a Comment

Well, the so called Elite Gold system is just another SCAM, and this time it’s very poorly executed. Nigel Pearson is just a second class actor who is listed in Istock Photo, and the people behind the deceptive offer are just filthy marketers that will do anything to dupe you into registering and funding an account with a binary options broker.

So its basically the same story about how you can make a ton of money with a minimal amount of investment ($250). As I explained previously, there is no logic behind such a claim and they are mathematically flawed, unless you are using some type of Martingale system like the one employed by the 100percentprofitbot and used by the famous Charles Deville Wells. But even this system will only work in the short term, and as every gambler knows the casino will always win in the long run. Here’s the mathematical logic behind it:

<(1/2−ϵ)4 [where ϵ<1/36 is a compensation for the probability to achieve 0]

The idea behind this method is to double up on losing trades since you can’t be on a losing streak forever. So, in this case the people behind 100percentprofitbot.com nailed it on the head. They are advising you to open multiple accounts and fund them, double up on losing trades, and cash out even if it’s a small amount of money. If you have small amounts coming in from multiple sources its going to add up.

This is probably one of the only methods recommended these days that actually works (well at least used to), but you can’t let the broker meddle with the bot strategy. It has to execute the trades in an automated fashion without any form of manual intervention. The really important thing here is to cash out exactly when the robot tells you to do it and follow the instructions without deviating left or right. I know too many traders that wanted to mix strategies or try out something new the broker offered them and ended up losing their investment and rightly so by the way.

When trading binary options you need to understand something. First, the issue of money management is critical for success. Profitbot mitigates this for you by diversifying your trading portfolio and and maximizing potential gains on high yield orders (contracts). Secondly, this software is hand crafted and while the texts seem a bit complicated at times, the underlying logic and savvy nature of the programmers make it perform exceptionally well.

Unlike the Elite Gold scam software, this trading bot has consistently performed for a large spectrum of traders, starting from complete amateurs all the way through to gurus. You will not find actors or illogical and deceptive figures behind the product.

To sum up, the Elite Gold scheme is just another shameful product promoted by unscrupulous marketers who will stop at nothing in order to get you to invest money through their program. On the other side of the spectrum you have the 100percentprofitbot, which is an excellent choice especially of you are just starting out in this trading business and would like a solid piece of software to rely on. Additional signal or automated trading software I can recommend is Virtnext as well as Alex Kaminsky’s binary secret code which has performed for me in the past and I use it until this day with total satisfaction.

Please leave a comment, we value your feedback.

Mockingbird Method Scam Review

November 19, 2015 by Patrick Jones 3 Comments

Alright so when I started doing this review I immediately spotted its just another lame scam offer from some smart guys who actually know what they are doing. Only this time got a bit too creative and forgot there are some relatively intelligent people out there who actually ask the tough questions and want a proper reply.

Update 2018: Mockingbird Method has been recycled so many times into various versions that we just stopped counting.

Here are some easy ways to identify the scam:

1. When you ask to speak to the person that’s responsible for building the system and all they want to do is get you to sign up and deposit, you know you are on your way to get ripped off.
2. If they are telling you “there are only 41 spots left” or something of similar nature, you pretty much bet your bottom dollar this thing is not legit. Now, why is that? Well, can you imaging Goldman Sachs saying something similar to that. Its just a sales tactic designed to get you to register and open an account with a broker.
3. The name of the system screams SCAM, it’s designed to get really innocent and untrained people who have no money to buy food open an account and fund it – they even say it themselves. “But to Make Money You Need to Make a Small Deposit”.

Moving further along, as opposed to systems like the Binary Profit Method, the Mockingbird Method scores Zero across all key parameters.

1. How Easy is it To Use?
Well, I don’t even know what it is honestly. It’s just a bunch of hype with a lot of dressing and no software or even simple charts describing what’s being done.
2. What is the Level of Accuracy?
There’s nothing which is displayed so how accurate can that be.
3. Is it Reliable?
Well, I haven’t see too many positive reviews or ratings about this so-called “Method”. Furthermore, it pretty much answers to all the criteria of potential SCAM.
4. How Transparent is it?
How’s zero transparency sound to you?
5. Is the Customer Service Responsive?
Sure, they will only respond if they think they have a chance to get you to fund your broker account – and again it’s Bigoption which is not a regulated broker.

By the way, this by no means indicates it is not a good broker and in fact there are some very honest unregulated brokers out there. Still, its always better going with regulated one like Optionweb, unless you are a US based trader. Then you are pretty much left with very certain options like Tradorax, which also offers a superior trading environment as well as timely payouts.

Alternative Systems:
Well, as I previously mentioned there are very few reliable systems available there today. You will probably want to check out another system called binary secret code. There is one scam review out there, but after having a chance to speak with Alex Kaminsky, it appears that person did not follow the instructions given to him (here’s a lesson to be learned). So if you are looking for binary options signals, that would also be a great solution for you.

So summing up this review, the Mockingbird Method is an outright SCAM! It’s probably as low as it gets in terms of how it is presented to the public, as well as the actual product and software (or lack of it) which is offered. In short, don’t even think about investing your hard-earned dollars in that nasty scheme.

If you found this article to be useful please show your support by commenting below (smile)

Thanks,

Patrick

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