So if you’re reading this you probably landed here looking for a review of a specific binary options program. Instead of giving a specific review I’ve decided to put together this blog post to share the truth about the binary options scams and list every scam that’s currently being promoting right now. If you landed on this page from YouTube because you were looking for a review then unfortunately the program you’re looking at is a scam and I’ll explain why below.
First things first – Go here to see my no.1 recommendation for making money online!
(The image below shows my income proof of 5-figures per month)
So here is a current list of scams. This list will be updated regularly:
Terabit Trader, Code Fibo, Gemini2, Pay My Vacation, Dubai Lifestyle App, Algo Master, Centument, Lucrosa, Prizm, Insured Trading, Push Money App, Millionaires Blueprint, Copy Buffett, Ice 9 Technology, Cash Formula, NEO2, 1k Daily Profit, BinaBot, Brit Method, Instant Cash Club, Private Profits Club, Polygraph Millionaire, Blazing Trader, Financial Freedom System, Profit 4 Patriots, Snapcash Binary, Orion Code, Shepard SDP, Automata Formula, Turbine XO, Algo Trading Robot, Multiplexer System, Cloud Track Trader.
If you landed on this page looking for a review and your program isn’t listed above chances are I haven’t updated this page yet, but trust me, if you’re looking at a binary options program then it’s a scam and will only leave you out of pocket!
So how does the binary scam work?
It usually starts off with you receiving an email about some amazing new app that can make you rich. You click on the link in the email and you end up on a sales page with a video of someone showing you their new app and how you can access it for free and make a fortune. Often the video will contain a bunch of testimonials from other users but you shouldn’t be fooled, these people are fake and they are simply actors.
Once you watch the sales video you’ll be promoted to sign up to their recommended binary options broker. It’s usually a form on their website that automatically registers you at their recommended broker and creates an account for you to use their software app. Once you’re inside the software app another video will usually appear showing you how the app works and that you just need to make a deposit of $250 or more to get started using the app. You’ll normally be told that this is “just a deposit” and you can withdraw the money anytime. Don’t be fooled though, it’s really not that simple.
After you make that deposit the software will start auto trading for you. At this point (according to the sales video) you can sit back, and watch as it makes you a fortune. Unfortunately that never happens, and the software app will actually trade your money away to ZERO.
The software app is designed to lose…
The software that is supposed to make you rich is actually programmed to lose. You see the binary options brokers need you to lose money, if you were to go and make millions then they would be out of pocket and probably go bankrupt! With these binary scams there are 4 categories of people involved in the scam:
- The binary options broker – The broker is the company that enables you to trade binary options. This is where you deposit your cash.
- The binary options network – These act as a middle man between the broker and the owner of the scam website
- The offer owner – This is the person that owns the website (for example Terabit Trader or Brit Method)
- The affiliates – These are the people that spam your inbox with promotions about the new app
When you sign up and deposit $250 or more, the binary options broker (1) goes and pays the binary options network (2) who then pays the offer owner (3) and finally he pays the affiliates (4).
The binary broker actually pays out around 100% (sometimes more) of the money you deposit. You’re probably thinking that makes no sense right? Well they will pay out around 100% of your first deposit, and then any deposits you make after that they will keep for themselves. So you sign up and deposit $250 and they pay that out to the binary options network (2). Well at this stage they NEED you to lose money, because if you start making winning trades they are immediately out of pocket. But they know that by rigging their system you will lose money and their statistics show that a lot of people will then make a further $250 or more deposit and this is where they make their profits!
Some people have lost their life savings in scams like this. It doesn’t matter whether you came to this page looking for a review of Brit Method, Centument, Ice 9 Technology or any other binary program. They are literally all the same. The only thing that changes is the offer owner (3). A new website is created with a new design and new sales pitch, but the brokers and the scam software don’t change. They might get re-designed to look “new” but the scam is always the same.
Brokers operate like casinos – They need you to lose
Unlike legitimate forex and stock brokers the binary brokers need you to lose. With legitimate forex and stock trading brokers can make money on commission and spreads. It’s actually better for a legitimate forex or stock brokerage to have successful traders on their platform because they will make far more money over time. With binary options the opposite is true. They operate like casinos and they want you to lose because if you start making millions they are the ones out of pocket!
Conclusion – Avoid binary options!
In the past few years 100’s of these binary systems have launched and they are all a clone of the last one. I’ve never made money with the apps they recommend and don’t believe anyone else has due to the fact that they are all programmed to lose. If you really want to make money you need to learn how to build a real online business, and not rely on some scam software or get rich quick scheme. There are legitimate programs out there but like anything will require commitment and hard work.
So Mark, what do you recommend?
I’ve been making a full time income online for 6 years and in the past few months I’ve started testing a new program. This new program has now been promoted to the rank of my no.1 recommendation since I recently crossed 5-figures per month in income as you can see in the screen shot below.
Thanks for stopping by!