Binary Options Robots – Scam or Not?
What is up with this binary trading market and all the auto trading robots? Does any participant make money or is it just the marketer of the services?
Nobody makes money except the brokers who mostly build the crappy robots. None of them work. Robots are a massive scam.
The binary brokers build and pay for these “scam robots” knowing they are going to lose money, they make trading sound easy.
The internet has become littered with these scammers – the pattern is similar – you visit a website and you get a pop-up with a video pushing automated trading software; promising you untold riches to be made if only you register and start using the software. Once you register the software will forward you to a binary options broker and ask you to deposit monies!
This is better explained by an example:
Here is what they say on https://fintech-ltd.com/ – a guy by the name of Daniel Roberts who claims to be the owner of Fintech Ltd is introduced to us.
Hi , I am Daniel Roberts and YOU are about to make a LOT OF MONEY
- You don’t need any trading experience to make money with my software, with One-Click, Auto Trading our professionals will do it for YOU!
- You won’t have to do any research, read any charts or do any complicated calculations. My new software version will do all of it FOR YOU!
- Set it up in minutes, start trading within the hour and see your first profits later today. I GUARANTEE IT!
- There’s nothing to buy, no contracts to sign and no future payments.
- That`s right, there is no fee to join, it is 100% FREE today!
He pretends to be a generous guy and claims that in the past he was the boss of a successful technology company specializing in analyzing data. At one time he had come up with a secret computer algorithm that is able to analyze the markets and make forecasts on a stock market’s direction very accurately. THIS IS A SCAM! THERE IS NO SECRET ALGORITHM – THIS GUY WILL REFER YOU TO A BINARY OPTIONS SITE AND GET YOU TO DEPOSIT MONEY IN IT.
The below is a livechat conversation with a person representing http://fintech-ltd.com/ – one such robot ‘scam’ – there is no such system that can generate automated returns and those people are just criminals. Here’s how it typically goes:
- You get curious
- You look at some slick video
- It pushes all the right buttons
- Dreams of untold riches get into your head
- Sense goes out of the window
- You ignore all the warning signs
- Money is deposited
- You lose or maybe they let you win a bit but then you seem to have trouble getting your money out.
- Maybe you wise up and believe you have been scammed
- More often you deposit more money before you realize you are being scammed
- Some really gullible people start to max out their credit cards, borrow from friends and even re-finance their houses
- Eventually either you wise up or go broke
Please guys steer well clear from these sharks! These deceitful and aggressive charlatans will take from naïve’, hard-working people everything they have, and even what they don’t have and leave them penniless.
You would be quite literally insane to use any binary options managed account. I categorically promise you will lose all your money, zero exceptions. Don’t be stupid is a reasonable investing mission statement.
Investing with unqualified and untrained idiots with little, no, or completely made up track records in an industry rife with scammers in unregulated jurisdictions running on tinker toy software platforms with the odds completely stacked against you… that would be stupid alright. Real stupid.
As you can see below those ‘binary options robot fraudsters’ are bold – they even man livechat support lines and try to give you a false sense of security by providing a UK address and telling us they only do business with licensed providers. When we logged onto the Fintech software it appears that those scammers were trying to get us to register with Banc de Binary.
Steer Clear of BancdeBinary!
Chat started: 2016-12-19 02:55 PM UTC
(02:55:29 PM) Visitor 17624432 is now known as dan.
(02:55:29 PM) dan: hi
(02:55:36 PM) *** Joseph Latin joined the chat ***
(02:55:40 PM) Joseph Latin: Hki
(02:55:42 PM) dan: does does it work?
(02:55:47 PM) Joseph Latin: Hello*
(02:55:58 PM) Joseph Latin: of course, this is a licensed company [yeah right lol]
(02:56:18 PM) Joseph Latin: all of the brokers we are working with are also fully licensed or fully regulated
(02:56:28 PM) Joseph Latin: and that way we can guarantee safe and profitable experience for our traders [safe and profitable experience my ass]
(02:56:51 PM) dan: what do you offer?
(02:57:01 PM) dan: is this a kind of robot to make money?
(02:57:22 PM) Joseph Latin: this is an auto-trading software
(02:57:27 PM) Joseph Latin: have you watched the videos?
(02:57:48 PM) dan: i don’t have time to watch videos
(02:57:53 PM) dan: tell me what is in it for me?
(02:57:59 PM) dan: and why should i trust you?
(02:58:29 PM) Joseph Latin: this is a software designed for people without experience [they try to target people who are vulnerable and may not even know how the stock markets work]
(02:58:50 PM) Joseph Latin: all you need to do is to fund your trading account, login and start your software
(02:58:55 PM) Joseph Latin: the rest will be done by Fintech
(02:59:14 PM) dan: and what if your software loses me the money?
(02:59:26 PM) Joseph Latin: the losing rate is less than 10% [he is lying – if you try this you will lose your money guaranteed!]
(02:59:38 PM) Joseph Latin: you won’t even notice if there is loss
(02:59:51 PM) Joseph Latin: according to the statistics you can double your initial investment
(02:59:56 PM) Joseph Latin: in two trading days
(03:01:34 PM) dan: sounds easy but what’s the catch?
(03:01:55 PM) Joseph Latin: there is no catch, the more the traders monetize the better for us
(03:02:10 PM) Joseph Latin: we are making small commissions from every successful trade [yeah right…]
(03:02:31 PM) dan: so which brokers do you work with?
(03:02:49 PM) Joseph Latin: they are chosen automatically by the software
(03:02:56 PM) Joseph Latin: all of them are fully licensed or fully regulated [you shouldn’t touch any binary options broker who accepts to work with people like Fintech pushing automated software – they are scammers preying on the vulnerable]
(03:03:48 PM) dan: hmm
(03:04:05 PM) dan: where are you guys located?
(03:04:51 PM) Joseph Latin: the headquarter is in London, UK [located in London lol – no way]
(03:05:05 PM) dan: ok what is the address?
(03:05:21 PM) Joseph Latin: This is a private information
(03:05:26 PM) Joseph Latin: and this is an online business
(03:05:45 PM) Joseph Latin: we won’t meet face to face after all
(03:06:02 PM) dan: well i’m not convinced
(03:06:12 PM) dan: why should i trust you?
(03:06:17 PM) dan: i have a hard time
(03:06:30 PM) dan: what is your license number?
(03:06:51 PM) Joseph Latin: 4221463
(03:07:03 PM) Joseph Latin: http://www.is-scam.com/review/fintech-limited/
(03:07:03 PM) dan: ok what number is that
(03:08:12 PM) dan: what number is that?
(03:08:35 PM) Joseph Latin: Regulation number
(03:08:48 PM) dan: regulation number from which authority?
(03:08:53 PM) dan: where can i input it?
(03:08:53 PM) Joseph Latin: Dan you are asking questions that we are not allow to provide
(03:09:04 PM) Joseph Latin: I don’t know who you are
(03:09:22 PM) Joseph Latin: are you familiar with the industry at least a little?
(03:09:25 PM) dan: you are the ones asking for money not me
(03:09:28 PM) dan: i need to know who you are
(03:09:33 PM) dan: not the other way round
(03:09:47 PM) Joseph Latin: I’m not asking for money, you are asking for money
(03:09:54 PM) Joseph Latin: the choice is entirely yours
(03:09:58 PM) dan: fine
(03:10:00 PM) dan: i will pass then
(03:10:07 PM) Joseph Latin: Have a great day!
(03:10:12 PM) dan: because you haven’t addressed my concerns
(03:10:15 PM) dan: i don’t trust you
(03:10:27 PM) Joseph Latin: good luck trusting someone with that attitude
(03:10:40 PM) Joseph Latin: try on Wall street
(03:12:20 PM) Joseph Latin: Anything else I can help you with?
(03:14:14 PM) *** Joseph Latin left the chat ***