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binary options scams

Will the REAL Binary Options Robot Please Stand Up!

July 27, 2016 by Patrick Jones 1 Comment

If you are an opportunity seeker constantly searching the internet for a genuine trading app or binary options robot that can actually make you money on auto-pilot, you should take a minute and read this insightful article. I have started this voyage of exposing binary options scams about 8 months ago after losing $500 through some fake software which promised me consistent returns on my investment and an easy way to make an extra buck online.
thereal autotraderThe money I lost wasn’t much and it didn’t devastate me or my family since I had the common sense to take a step back and reevaluate my position. It did however sting and got me thinking real hard about how things work and why people buy into these bogus apps. Then it eventually hit me, human nature is predictable in most cases and savvy online marketers understand this and know how to present things in a way which distorts reality and in the process make a ton of money on the back end.

recommended systems2

A Saturated Market
With the advent of binary options trading this financial niche has grown exponentially from relatively small to a little monster, with global net-trading stats reaching hundreds of millions each month. Granted, it’s still not the size of Forex which has been around longer and has acquired a more “legitimate” reputation for some reason, but if it keeps going at the current pace it will more than make up the difference in the next year or so.

How Does This Reality Effect You?
In what’s becoming an increasingly saturated market troubled with regulatory constraints, credit card processing companies that charge an arm and a leg, and brokers looking to bite-off a larger chunk of earnings, the online marketers will continue to serve as a conduit connecting potential customers (that’s you) to vendors (AKA brokers). As the competition grows so does demand, and today brokers are willing to pay very hefty commissions for paying customers wanting to trade. This means the marketers are getting aggressive, which is fine if you are sending a promotional email or presenting an ad. The problem starts when key bloggers, content networks, and mainstream media outlets cover systems in a way which motivates opportunity seekers such as you to invest in a seemingly legit trading robot.

The profits are high and temptation is always there, but the really honest review sites will only feature a few select systems which have been examined and tested to provide optimal results. At times, these results are initial so the reviews are positive but as time passes the loss ratio increases due to a variety of reasons I can’t cover now and what started out as a legit software has turned into an investment scam.

How Can You Spot a Fake Review Site?
Well, that’s relatively easy. Try comparing the review site to a brick-and-mortar store offering you a variety of products to choose from. Some are good and some are bad, but you can see exactly what you are buying and what you pay for. The same criteria applies here, so if you have a website that publishes mostly good reviews you can pretty much be sure he is not looking after your best interest. Secondly, there are various marketers out there that understand how to manipulate the google search algorithm and achieve good results. These are also relatively easy to spot since they have spelling errors and their writing style is not natural or intuitive as the image below depicts.
Fake Review SitesAdditionally these fake review sites copy certain segments from high quality review sites that offer original and innovative content in order to mask their actions. The strange characters indicate there is something mechanized behind the content, because no human being will ever publish a review in this way. The grammar and spelling errors indicate a lack of professionalism or high probability that the content is rehashed or spun through some automated content software.

How to Separate the Wheat From the Chaff
So, this is the real question – what to believe! The answer is fairly simple once you think about it. In this business most systems will be a little dirty at best. That is very logical because people will always complain and gripe since systems are hyped, massively promoted, and don’t meet their expectations. So, its OK if something has a few bad reviews, that should not deter anyone. Naturally if there are a ton of bad reviews then you should avoid it, but this also works the other way around. It’s not natural when ALL the reviews are positive, and usually this will indicate that there is a lot of hype behind a certain trading bot. If this is the case you should also back off, because you are looking for diversity of opinion which is very natural.

Why Are Certain Scams More Effective Than Others?
Well, take fore example the Quantum Code or Mobile Binary Code. These are very high-end productions designed to create an atmosphere of wealth and prosperity which is at your reach. People are very much influenced by these sales videos and in a moment of weakness will be tempted to try it out since it provides them with hope, even if inside they know its fake and not real they will still take a risk because “some chance is better than no chance at all”. This is they heart of the deception and why it is abhorring. These scams target the weaker segments of the population and provide them with false hopes. By the time customers realize they have been duped it’s too late and the money is gone.

There is No Conclusion  to This Post
The SCAMS will go on, new traders will end up losing their money, and binary options robots will continue to make money for the people pulling the strings behind them. If you are looking for remedy or closure you will not find it here, I do however recommend becoming a part of our Facebook Group since this will give you unique access to consultations with other traders and direct access to myself and the Binary Scam Alerts Staff where we actually provide real and detailed information about things that actually work and make money for you.

Filed Under: Binary Options Robots Tagged With: Binary Options Auto-traders, Binary Options Fake Reviews, binary options scams, trade binary options

Happy 4th of July and a Personal Message from Patrick!

July 3, 2016 by Patrick Jones 2 Comments

Despite the many requests I have to review various SCAMS occurring in the binary options niche, I decided to take some time and try to look at things from a different perspective. There are two recurring questions I always get from members. The first one is “if there is a trustworthy automated trading app which actually does what it promises to do”. The second one is “why is this happening to me?” and in many cases it is accompanied by “how can I get my money back?”.

4th of July

Firstly, I totally understand and sympathize with both questions. I have often found myself in a position where regardless of what I do or how hard I worked the harsh reality of life is simply too much to bare as the basic expenses such as rent, food, and transportation costs are constantly on the rise. So, on one hand you are working harder and maybe even making more money, but at the end of the day nothing changes and you just can’t get out of the time bind and circle of constant financial stress. So, you figure why not take a chance and see if there’s anything out there that can help you out in order to actually pay the bills, live a little, and also save for the future, because eventually everyone gets older and when that day comes social security or pension plans are not enough to cover the daily cost of living.

So, you risk it! What the hell right? You’ll try anything once and despite your fears and lack of understanding you decide to take a leap of faith and try out a new system. Problem is, the auto-trader is a complete FLOP and does not achieve the results its supposed to. So you tell yourself it’s OK, you took a risk and lost your initial investment, but now what? What to do? Your situation has stayed the same and even worsened because you just lost some money. Now, normative people will try anything once and if it doesn’t work they move on. The real problems start when instead of taking a step back and moving forward with your life you constantly try using new systems and end up with a hole in your pocket instead of “fast cash and auto-pilot earnings that let you live your life while making passive income completely hands-free”.

A colleague of mine told me he lost faith in humanity since he sees how people will jump at anything if they believe there is a tiny speck of hope that system will be the solution to their financial stress. In reality, it’s not humanity he has lost faith in, it’s human nature. People are lazy by nature, and that is the single most contributing factor to innovation and productivity. Consider the remote control for example, why get up from the couch to switch channels when you can zap it from the comfort of your comfy arm-chair? Plastic cups and dishes are another example, why wash it just toss it in the trash!

So, taking everything into account the various make money schemes available online today address the most basic and ingrained elements of human nature which is greed coupled with laziness. The truth is kind of tricky, because hard work does not guarantee you wealth, but I can definitely promise you a push-button software that promises to make you a millionaire overnight will DEFINITELY make someone rich, but it won’t be you and that is guaranteed! This is my main problem with systems like the Quantum Code,  Millionaire Blue Print, and 7 Figures Months the people behind it are very perceptive and understand how to harp on these emotions. Additionally they are loaded with money, so chartering a plane and renting a mansion for a day is very much an option for them since they know the return on their investment will be exponential.

It’s a Sunday and tomorrow is the 4th of July, one of my favorite holidays. For our American members and subscribers, I urge you to spend time with your family and loved ones and clean your mind from the cumbersome daily grind. Enjoy the important things today, and forget about your problems and pressure at work or at home. As for the rest of you, take this Sunday to do something special like go to the beach or take a walk in the park with your dog. Tomorrow will still be there waiting for you, and as sure as the sun will rise we will have more SCAMs to review and different con-artists and cheaters to expose.

On a personal note, there are a lot of FAKE Review sites out there which are gaining momentum. They are plush with cash and have marketing budgets so it’s getting increasingly difficult for us to compete with them. The only way for you to help is to get involved in our Facebook Page and YouTube channel and make plenty of comments in the posts on our website. This will help keep our community active and signal to all the fat cats that we can still beat them at their own game despite our minimal budgets.

Filed Under: Binary Options Education Tagged With: binary options reviews, binary options scams

Report a Scam, Get Back at Those Cheaters Today!

February 14, 2016 by Patrick Jones 21 Comments

Binary Scam Alerts is proud to introduce our unique Report a Scam section. Today you can have your say and really tell the world how you feel and the experience you underwent. We have made sure to make the procedure simple and user-friendly so start sharing today! Alternatively you can refer to MyChargeBack which is an accredited fund recovery agency with a proven track record.


 

Filed Under: Report a Scam Tagged With: binary options scam, binary options scams, Report a Binary Options Scam, Report a Scam

Most Used Binary Options Brokers Scam Tactics

January 12, 2016 by Patrick Jones 1 Comment

After searching the net and looking for the most insidious and criminal techniques brokers use to scam traders, I found out a variety of methods which if used by a talented sales agent can have a seriously detrimental effect on your household income and ability to finance yourself. You need to be extremely careful with these crafty brokers, and think 50 times before providing your credit card information to someone half way around the world getting paid a very low base and high commissions based on his ability to squeeze deposits from innocent would-be traders. This post is divided into 2 sections, the first is for customers who have never invested, or alternatively will be investing with the broker for the first time. The second section is for traders interested in re-investing.

Scam Brokers

Tactics Used on First Time Investors
So, you saw this movie about some guy who has access to some loophole and has invented a method which can make you thousands of dollars a day without any effort. OK, let’s say you are intrigued for some reason and would like to fund your account. If you have just registered expect a phone call from a pushy sales agent pretending to be a broker. He get’s paid if he gets you to deposit, but he get’s more if you deposit a higher amount. His job is to get you through the door and gift wrap you to the real cash grinders, the people who will sell you bottled air and snake oil in their sleep.

Promises of Wealth and Riches
The first person you speak with will sell you the dream, that is what he’s paid to do. Now remember, if you go to a serious brokerage they don’t talk like this. Usually they will ask you for a minimum investment of let’s say $100,000 and give you a reasonable return on investment with a range of 3%-12% depending on the level of risk and exposure. Obviously if you are buying government bonds you are relatively safe but you won’t see much. If you invest in emerging markets then the risk is huge, but the profits are there and they are real. So, if the company representative is laying it on thick, take a step back and reconsider your options.

Agent Machine Guns the Sales Script
If you pick up the phone in many cases you will experience a rehearsed script harping on the usual points: Educational tools, strategies, account management, bonuses, insurance or risk free trades, and depending on the broker you will hear about regulation (or not). When you start to hear these things stop what you are doing and hang up the phone.

Dirty Sales Tricks
If you have ever been to a bazaar you will notice the shop owners haggling with customers. This is very much the same atmosphere you have on the trading floor, only here they will be extremely aggressive and always try to get you to fund your account. Some tactics may include sentences like “What do you mean you don’t have money? You can afford a dinner at a restaurant right?”, or “I can pretty much guarantee that if you use the methods we offer you will make a ton of money”.

If you are sold on this then at least document your conversation because you may need it later on.

Tactics Used on Traders Wanting to Re-Invest
Advanced Fee: It’s just a tool to get you to deposit money without really having to be accountable for the performance. Brokers call it fluff money since they use it for buying alcohol and other amenities for the trading floor.

Credit Card Fraud (Overcharging): The classic and most vile tactic is to overcharge your credit card. The better brokers have a very strong compliance department which forbids this, but some of the shady ones like Optionmint, Zenith Options, Cedar Finance, safe24options, Traderxp, Optimarkets, XPMarkets, Amber Options, Regal Options or Interactive Option will over charge you left and right.

Withdrawal Deception: They will tell you anything and use every loophole to get you to reverse or cancel your withdrawal request. Make sure to take screenshots and document your account status at all times.

Bonuses Credited on Wins to Avoid Cashing Out: This is a really dirty trick used in order to void your withdrawal request. If you have a bonus then you would need to trade a certain volume to qualify in order to collect your money, but if you have a bonus in your account then you can’t withdraw.

Documentation and Bureaucracy Used as an Attrition Tool: The documentation process of getting you to provide a photo ID, Utility Bill, and photos of credit cards is used as a fig leaf to hide the true intention of procrastinating with the intent of cancelling withdrawals altogether.

Fake Wins: Fake wins or Photo-shopped wins are used as a method to solicit money from traders under false pretenses.

Trading for You: A Senior Broker may address you and try to convince you to trade on your behalf. If you sign a document allowing him this, or alternatively agree to it on the telephone you are pretty much mince meat and they have you by the balls.

Balance Depleted: One day you have $5,000, and the next day it’s down to $5, how can that be? The trading history shows someone traded, but it sure as hell wasn’t you. Well, unfortunately you have just been ripped off in a most despicable way.

Demo Account: At times these will be used to solicit your private information so they can spam you with phony offers and call you up profusely.

Intimidation Tactics: This is really a way to appeal to your fears and insecurities and bend your arm. In many cases there is a carrot and stick system which is employed by either one or a couple of Senior Brokers.

Tax ride-off: This is a way to let you think you can report this as an expense and get your money back from the authorities. Nothing can be further from the truth.

Deny Requests to Return Funds: Sometimes a person realizes he makes a mistake but can’t undo his actions. In all fairness, if the broker has followed his own rules then the person making bad decisions has to pay the price in some way or another, unless he was falsely led to believe something.

Unusually High Fees for Cashing Out: This is used to discourage you from taking out your money. Insane fines are also levied for not meeting trading requirements when trying to withdraw.

Posing as a Legal Entity: Calling as a third party and demanding money be sent to broker due to a commitment is something we have seen done as well by scammers.

One-sided Agreements: Forcing traders to reconfirm their transactions by signing documents in order to avoid financial disputes is an everyday occurrence. By the way, this is done by a lot of businesses.

Switching Account Managers: This is done in order to reduce tension and switch tactics after major losses have been absorbed.

Promises of Rolex Watches and Fancy Cars: This is usually a way to hype up heavy investors or people who are into “the lifestyle” and don’t mind losing their money as long as they have a good time. But still, they may use this on just anyone to get him hyped and in the mood.

Asking for Your Password: DO NOT give anyone your password, and if they ask you for it make sure to record the conversation because that’s illegal.

Lack of Communication: Usually when a scam has run it’s course the level of communication will drop because they will want to deal with the new traders and try to get some money out of them.

False Advertising of Trading Tools: For example ITM trades at over 90% is not logical and that should send a flair up in the sky.

Pressure Tactics: At times they will contact you and try to give you a match offer, but in reality it’s a bonus and you can’t really win with that unless the volume requisites are low.

Software is Rigged: Just can’t win? Well, there’s something behind it and you can really feel that you are trading against the house. That’s because someone has adjusted the payout percentage in their favor – and it’s not you.

Email and Password Not Valid: Have you just been locked out of your account and can’t seem to log back in? I really hope you took some screenshots of your account before and don’t faint easily.

I believe anyone with eyes in their head and a bit of common sense can get the picture of how some of these scam brokers operate. The real problem is separating the wheat from the chaff, because there are some really good brokers out there and some solid systems with very good payouts. For example effective signals combined with a reputable broker means you will definitely make money, maybe not millions but it’s really a good way to supplement your income or alternatively quit working altogether and become a full time day trader – but only if you have the proper training and are willing to risk significant amounts of money and time. On the other hand, if you are tricked into using fraudulent offers like the free money system (Walter Green), Insured Profits, or Channel Ranger, Binary Matrix Pro, Oz Bot, or Mockingbird Method, you will surely lose your money because there is nothing there except hot air and affiliates trying to get paid on the back end.

Bellow you will find a list of additional sites where you can report binary options scams:

ripoffreport.com – General consumer awareness and information site.
sec.gov/whistleblower – This is the SEC whistle blower site.
bbb.org/scamtracker/us – Better Business Bureau
scamwatch.gov.au/ – Australian Competition and Consumer Commission
asa.org.uk/ – Advertising Standards Authority
ftccomplaintassistant.gov/#&panel1-1 – Federal Trade Commission (FTC)
fbi.gov/scams-safety/e-scams – FBI Website
Binary Scam Watch Monitor – Well known watchdog site for binary options
binaryoptions.net.au/ – Good for Australian binary options traders.
forexpeacearmy.com/ – Very rough site for reporting scams.
cad.gov.sg/ – Report a scam to the Police if you are in Singapore
sida.se/English/contact-us/Whistleblower/ – For Swedish Residents
securities-administrators.ca/Fraud.aspx – For Canadian residents (Canadian Securities Administrators)

 

Filed Under: Scam Brokers Tagged With: amber options, binary matrix pro, binary options bonus, binary options cash out, binary options report a scam, binary options scam brokers, binary options scams, binary options withdrawals, Brokerage Capital, cedar finance, Channel Ranger, coffee cash cheat, free money system, insured profits, interactive option, mockingbird method, optimarkets, Optionmint, oz robot, regal options, safe24options, traderxp, walter green, xpmarkets, zenith options

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