So yet again I find myself writing a review of another binary scam. This time it’s Terabit Trader! The latest binary scam to hit your inbox!
Terabit Trader won’t make you a penny. It’s a complete scam.
In case you’re interested in learning how I make a full time income online (6-figures)…
I’m starting to get bored of writing reviews about scams like Terabit Trader. In the past few years I have written literally 100’s of them (not all on this blog). The scam has not changed since it started. I’m quite amazed that people are still falling for scams like this but I guess a lot of people are newbies who don’t know any better.
I remember when I first fell for a scam like Terabit Trader. I watched the fancy sales video and thought this sounds amazing, I want to sign up. Plus the $250 deposit is only a “deposit” so I can easily get it back. How wrong and naive I was back then. Yes it’s true, you do have to deposit $250 minimum to get started with Terabit Trader and other binary systems. This is sold to you as a deposit, however you’ll never see this money again.
As soon as you make that $250 deposit the software will activate and start trading for you. It will then literally trade your money down to zero within a few hours or days at most.
How the scam works…
It starts with the binary options broker. Binary brokers pay out big commissions to people who can refer new customers to them. They have become the new casinos for affiliate marketers, because a few years back when online casinos were huge marketers could promote them and earn big referral commissions for signing new members up.
The same is true now for binary options. If you sign up and deposit $250 the person that referred you (in this case the owner of the Terabit Trader website) will get paid a commission. Sometimes the commissions are 100% of the money you deposit. The brokers do this to attract lots of affiliates, and also they know that on average each customer deposits more than $250 so by paying out approximately $250 in commission to the Terabit Trader owners, they know they will make money.
However since they are literally paying out a huge chunk of the money you deposit to an affiliate they have to make sure that you lose your trades. If you were to go and make millions like the Terabit Trader suggests the binary options brokers would be out of business. It’s like everyone in a casino winning. The casino needs people to lose, otherwise they will be out of business, and the same is true for binary brokers!
The truth about the Terabit Trader software…
Here is a fact that might shock you. The Terabit Trader software is designed to lose and chances are this software was actually created by the binary brokers themselves. It’s designed to lose because like I said above they NEED you to lose so that they can make money. If you were winning they’d be out of business.
The owners of Terabit Trader aren’t actually traders either. Like I mentioned above these guys are affiliate marketers. They are affiliates for the binary options broker. All they do is put together a fancy sales page and video that convinces you to sign up and when you do they get paid. Chances are these guys have never made a dime in their lives actually trading!
Seriously, don’t spend anymore time on Terabit Trader or binary options in general. Whilst I can’t say for sure that all binary options systems are a scam in my experience I’m yet to find one that works, and I don’t know anyone who actually makes a good income from binary options. Therefore stay away!
But Mark, what do you recommend?
If you really want to make money (and I’m guessing you do or you wouldn’t be reading this review) then I recommend you check out my no.1 recommendation for making money. This is a proven business system and it’s making me 5-figures per month as you can see below.