Trading Systems

How Forex and Cryptocurrency Scams Work, Overview and Factual Examination

July 9, 2018 by Patrick Jones Leave a Comment

If you have ever asked yourself how do all these cryptocurrency and Forex scams really work and who is making the money at the end of the day, then we have prepared a special investigative report for you. Let’s start off with an overview about what is going on in the get-rich-quick scheme scene, and which scams are the most viral. In general, binary options are almost completely dead due to regulation and crackdowns of Interpol, the SEC, and local police which have arrested various white collar criminals in the upper echelon of this niche. One of the most known scammers is name Mike Shah and his company ZilMil Inc. He was recently arrested along with co-conspirator Jason B. Scharf of Citrades for illegally acting as Futures Commission Merchants and Commodity Trading Advisors without having the proper certification. The latter was also charged with illegally soliciting over $16 million in binary options contracts. In this context, you should know that Shah was acting as the affiliate marketer who was delivering paying customers, and Scharf was acting as the broker.

In light of these developments (and others), the crooks in the industry have decided to shift their focus from Binary Options to Forex, and cryptocurrencies. Now, Forex has been around for a long time and that’s not going to change, but what we are seeing here is a more aggressive transition from more traditional or legitimate Forex, to a more fraudulent and deceptive type of customer acquisition model. To put it simply, the same binary options crooks are now using EXACTLY the same tactics, only funneling in traders to Forex, CFD, and cryptocurrency brokers.

Now cryptocurrencies are a perfect fit for this lot, and if you ask them they will tell you straight up without being shy about it. “Yes, they closed the door so we sneaked in through the window”. This means they simply adapted to the new situation and partnered with scam Forex brokers instead of Binary Options brokers. Interestingly enough, the crypto scene draws a large crowd of inexperienced and untrained opportunity seekers. Most people who read the news or various updates about cryptocurrencies tend to get intrigued, but don’t really understand how to get started in this niche. That’s when the scammers enter the picture, and they know exactly what to say and who to approach.

Cryptocurrency scams are divided into certain groups. The first group or type, and the one we usually focus on here at Binary Scam Alerts is the fake automated trading systems and get-rich-quick scams. The rest are fake ICO’s, Ponzi Schemes, Fake Faucets, Pyramid Schemes, and various MLM or Multi Level Marketing scams. When it comes to the fake apps, the info-graphic here describes how the scams operate and what the process is.

In many ways the “trading floors” for such operations resemble a boiler room where salesmen use pressure tactics to lure potential customers into investing or buying fraudulent contracts or securities. But it all starts with understanding how customers are targeted in the first place and then baited to join a program.

Now, online marketers understand trends and how to use a very powerful motive in order to get you to signup to their systems. That motive is called GREED, but it can also be financial distress. Either way, we are talking about money and how to obtain it in an easy and relatively fast way so that you can alleviate your financial pressures and live life the way its really meant to be lived. This is a very powerful governing motif, and it is always present to some degree or another in any scam you will signup for.

Types of Financial Scams and Common Fraud Schemes
We will be focusing on financial scams having to do with referral schemes and offshore Forex, CFDs, and Cryptocurrency brokers. Firstly, its interesting and worth pointing out that these financial scams do not necessarily target the well-off or wealthy individuals. In fact, in most cases it is the less affluent and even broke customers are targeted. This is because they are more vulnerable, less informed and connected, but also more distressed and in need of an immediate cure or remedy to their financial problems.

The Fake Signals App
The fake signals software is designed to be perceived as a professional EA or expert advisor. In reality, the software behind it are random at best an most likely set to lose. That is because the person who is offering you this bogus signals app makes money when you lose your investment.

Fraudulent Crypto Robot Or Automated Trading Systems
These are probably the second most prevalent types of fake software. Much similar to the fake signals app, this system is designed to drain your money on autopilot. You will most likely be tempted to signup via fake ads or SPAM email communication. Crypto Robot 365 and Binary Robot 365 are good examples of how a fake crypto robot looks and behaves like.

Get Rich Quick Schemes
The “make a fast buck” type of system, more commonly referred to by industry professionals as “make money online” or MMO, is by far the most prevalent and recurring type of financial scam. It preys on the weaker segments of society, and after you signup the scam brokers will contact you via phone and try to get more money out of you.

These are basically the three types of scams that we deal with here at Binary Scam Alerts. The scams that are now being promoted most aggressively via affiliate networks are Bitcoin Trader, Bitcoin Loophole and Bitcoin Code which is also known as “Bitcoin Wealth”.

Communication Channels
The first way for scammers to reach out is via telephone. Sales agents receive contact lists (many times stolen) and those are automatically fed into a dial up machine. If you pick up the phone an agent is automatically assigned to you and that is where they start to lay it on thick. If that doesn’t work, get ready to be spammed, and it wont stop.

Identity Theft and Credit Card Fraud
Sometimes (not always) your identity may be sold off to third parties, along with your credit card information. Don’t be surprised if you suddenly get overcharged or alternatively charged for something you never purchased.

Rigged Trading Environment
The trading software itself is rigged both on the broker side, as well on the collateral software which was used in the first place. Its quite easy to pick up on this when you look at the data tickers and market information. You will see a severe discrepancy and very big leverage on the contract rates.

The Tell Signs and Red Flags
The first and most obvious one has to do with exaggerated or hyped up claims of easy money. If you hear that, run away. But then we have fake testimonials, inflated bank accounts, and outright lies or unconfirmed facts.

How To Avoid Getting Scammed
Firstly you need to detect it, and that is what our article has explained in detail. Secondly, you need to fight the urge to try out something you already suspect is shady. Sometimes its hard to withstand the appeal of something which can potentially be so lucrative, but you have to get smart and just move on. If you are unsure or suspect you might be getting duped then simply contact us by leaving a message below and we shall do our utmost to assist you. Alternatively, you can leave a message in our “report a scam” section. We can also be contacted via our our our Facebook Group , Google +, Pinterest, and YouTube Channel

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Spectresystem is a Complete Scam, Fraud, Fake

December 2, 2015 by Patrick Jones Leave a Comment

Once again another ignoramus decided to make a quick buck by hiring some cheap actors and selling a collage of smoke and mirrors designed to get the standard working man to invest and lose his hard-earned money. This time they call it the Spectresystem, but in reality it’s another scam, and this review will prove it.

Shameless, conscious-less, and and outright fraud and scam are the only words I have to describe the dubious nature of these relentless marketers who will stop at nothing to get their schemes out and publicized. It took me about 2 seconds to call their bluff since the person at the center of it is an underpaid actor telling a totally fabricated story about his new $120,000 Aston Martin car.

The members’ area is really a total sham, especially when the person says “you’ll finally be able to prove you’re not a loser to all the people that ever doubted you”. That is really a shallow and foolish statement since they are appealing to the really basic nature of the individual and praying on all the fears, frustrations, and inability to succeed in life.

Well, of course money is extremely important in our lives but how about parenting, relationships, and keeping a house together during difficult times? These things are also extremely important, and while you may have failed at amassing large amounts of money in your life, it doesn’t mean you are a loser. In fact, most people are not rich and they do not feel like they let someone down or are unsuccessful or unhappy in life.

Alright so moving forward here, this guy goes on and on about the good life and how this Spectre System will change everything, and so on. Well, I honestly still don’t know or understand what they are offering me. I mean, I’m willing to accept I’m not the smartest person in the neighborhood, but this is taking it to another level of stupidity.

Think about it this way, when you go to a shop or the supermarket you choose something based on the perceived value. It means, if a loaf of bread costs $1.50 you know for a fact that when you buy it you will be able to spread peanut butter or cream cheese on it and eat a slice or two and then stick the rest in the freezer.

In other words, there is no surprise and you always know what you are getting when you pay for it. In this specific case, you are not being shown anything (and probably with good reason). There is no system being displayed, no numbers being publicized, no trading panel to view. In other words what you have here is a total lack of transparency, and absolutely no one serious to speak with.

It pretty much screams scam and to be quite honest, it’s the lowest form of deception since these guys are really targeting the most helpless and poorest sections of our society, and in real life these people would be considered social deviants and thrown in prison for stealing and defrauding innocent people. On top of everything they try a cheap marketing trick and name their system based on the most recent James Bond movie thinking people will be more aware and relate to their so called “system” more effectively. In marketing terms its called piggie-backing, only you have to know how to do it…

So, if you were unfortunate enough to register for this cheap piece of deceptive con artistry, don’t even consider funding your account. If you have already done so, don’t think about re-investing your money or accepting a bonus because it’s just a way for the broker to keep you coming back and losing, alternatively you can check out some new trading tutorials for a new signals system that actually produces results and let me know how that works out for you.

We value your opinion so tell us what you think.

Coffee Cash Scam Alert

December 1, 2015 by Patrick Jones 5 Comments

Ah I love Coffee! Well guess what? Sean Willows is really an actor (not a very good one if you ask me) and has absolutely nothing to do with binary options or trading, and this review will expose these ripoff artists. Secondly, Multi-Millionaires don’t usually testify as to their fortunes. In fact, the exact opposite is true. These guys keep to themselves and don’t want anyone interfering with their daily lives, because they really don’t need anyone or anything anymore. But wait, there’s much more from scam central.

Here’s another red flag, whenever you hear sentences like “push-button system that will make you money”, stay away at all cost because it’s just a seasoned marketer trying to solicit you to open and fund a trading account with a binary options broker. It plainly mentions this in the second page when the presenter says “Our Coffee Cash cheat is able to bind itself to that trading account”.

Moving forward, the presenter claims the system will trade on your behalf, and that is the only thing I believe. That scammy software will take all your money, place it on random positions and lose all your money in a neat and effective way. That is because binary options (Excluding the exchanges such as Nadex and CBOE) are built on a market maker model. This means the losses achieved by the traders are the actual profits of the broker. This is not the case in a Spreads format, where the broker get paid according to the trading volumes and regardless of the win/loss ratio.

Now, when people try to offer you automated or algorithmic trading tools please check these 5 criteria:

Functionality: How easy is it to use, and are there instructional videos?
Accuracy Levels: How is the system performing and what is the percentage of ITM (In The Money) trades?
Transparency: Are the contracts fully displayed, and is the information shown in a clear an coherent fashion?
Customer Care: Are they responding to your questions in a timely and professional fashion?
Reliability: Are there delays or down times in the system? Do you see any messages like “server is down” or “communication error”?

As always, when choosing any type of online profit method, please make sure to do a Google check and see who these people are, and get some background information as to what they are offering and how much it will eventually cost you because at the end of the day it won’t be free.

Moving Forward, please pay careful attention. This guy claims he made over 84 Million dollars, and he’s telling you its possible to amass that amount with a mere $250 deposit. Now this is where they all make the biggest mistake, because if he said the system makes him a passive income of $30,000 a month after a certain trial period it would be a lot more believable as well as logical.

Now this guy who calls himself Sean Willows, is sending you to the proverbial gallows, because as you can see in the image below he wants you to register and deposit funds with Rumeliacapital, a broker considered to have a dubious reputation and no regulation. Surprisingly though, the actual software and how it is presented to the user is clear and easy to grasp, unfortunately it masks the true nature of this promotional scheme and I am officially labeling it a total SCAM in my review.

Don’t forget to leave a note below if you have something to say.

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

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.

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