Don’t Get Caught Out By These Binary Options Scams
Binary Options Scams Using Identical Software
Over the past couple of months we have seen a rise in the number of scams being launched. We felt it was important to write an article to help identify 2 binary options scams which are constantly being pushed as new products. This will hopefully make everybody aware if they come across it again in the future. Im pretty sure any experienced binary options traders would have already come across these apps while shopping about and have probably realized that it is a scam.
If this article stops at least 1 person losing money to these scams, then we will be happy.
The first one has been used on at least 20 different scams, and has shown no sign of stopping. Some of the most recent scams are Epic Winner, Terran Capitals and Trade X Profit to name just a few. (Larger List Below)
Its very easy to identify this scam trading software.
Small square icon in top left with a menu going down the left hand side of the page. Across the top of the page your account balance is shown along with how many total trades placed and the name of the broker attached to the account. Below this you have Introduction, Fund Account and Activate Software.
The lay out is identical to every other we have found. The only thing that changes is the color scheme and the name of the scam.
The second software is not as common but we have still managed to find at least 10 different versions of it in the past, all claiming to be the best of the binary options apps.
This software actually looks completely different to the first one we talked about.
In fact, we could almost be mistaken for this to be a decent looking software, if it wasn’t for the fact I have seen it so many times now. I would be tempted to use it myself. Recommended signals on major currency pairs, stocks commodities, indices and the option to activate auto trade are available.
The software even has a chart to reference before you trade.
Again this software is easy to recognize, it consist of several wide boxes with signals, charts ect,. Down the bottom right corner there is a large box which flashes red or green depending on the direction the market is moving for a particular stock.
So far the color scheme for this scam seems to stay the same, or at least doesn’t change much. Usually consisting of a dark blue background with grey and white boxes.
Unfortunately when we have come across most of these app, its only once we have entered our personal details do we realize it is a scam, the sales pitch can be so tempting and sometimes I have genuinely wanted to sign up to a product only to discover it was one of these scams.
There are several good alternative binary options trading apps out there at the moment, we have had great success rates using auto trading apps recently, but feel automated trading can be very risky, and unless you have at least a basic understanding on how to trade manually, you will struggle to succeed trading on any system.
Which unfortunately many scammers prey of folk just like this, promising riches from managed accounts or expecting to get rich without lifting a finger.
Seriously…if that was the case, then I wouldn’t be sat here writing this, and there probably wouldn’t be any more poverty.
Take the time to understand what it is you are trading on, there are credible independent companies out there who offer training. The more you learn the more you will get out of it. At the end of the day, even if you do find a decent system which takes all the work out for you, its not likely to last forever. Sooner or later, you will be back to square one, looking for a decent product to trade with.
Invest in your knowledge and it will never leave you.