Checking for binary options scam review is an important part of choosing a good broker or signal service. The problem is that there are just as many, if not more, review scams as there are scam reviews. What do I mean? I mean that many if not most of the reviews you will find are scams themselves. Every scam site on the internet has a review posted somewhere saying how great it is, how much money you will make and how much you can trust it. Well my friends, just because some websites says its trustworthy doesn’t mean it is . . . and probably isn’t.
It is a sad fact of life that the internet is full of copy trading, signal and social trading scams and that many of the reviews we rely on for information are scams themselves. In order to understand this it is important to understand a little about how internet marketing and review scams work. First, a website is posted with a scam offer. The offer itself will make wild claims of profits, or that it is different from all the rest and that it is trustworthy. Second, another website that may belong to the same people perpetrating the scam or just some other shady marketer pops up with a review telling you how great the service is, that it really makes money and that you really can trust it. Together the two sites create a false sense of security that takes advantage of inexperienced traders and their greed.
Binary Options Scam Review
How do you know if the review is a scam you may be asking yourself? With a little research and by little I do mean little. It really doesn’t take that much effort to uncover the truth. The first thing is to check out the original offer. If the offer itself seems scammy that is your first warning sign and red flag. Offers of free services, signals, trading robots or auto traders with high rates of return are often scams, nothing is really free. In order to get those free systems you will have to make a deposit with a recommended broker, which is not free and generates a commission for the website owner.
Other warning signs the offer is a scam are wild claims of how you will make thousands of dollars per day, or make millions in a few months, or that you will double your account with little effort. This is a marketing tactic and not a very subtle one. No one can guarantee your success, trading is risky and if it were that easy everyone would be doing it, right? Yet another red flag is a noticeable lack of details about how the service works. Sure, they all claim to use state of the art algorithms to analyze the market and give you signals but how do they do it? If there are no details and all you get is their signals it is likely a scam.
Client testimony is a favorite tactic of scam sites. You won’t find one scam without a list of favorable comments, many of which are on video. What you need to remember is that if you suspect the site is a scam, you can’t and shouldn’t trust this testimony without further proofs. You also need to remember that there is a website service called Fiverr.com where you can pay someone to say anything for only $5. $5 is a small amount to pay considering an affiliate commission can be worth $300 or more.
Now let’s talk about the review itself. If you have already determined that the offer in question may be a scam and you find a review saying how great it is this is a red flag. It does not mean the offer or the review is necessarily a scam but the red flags keep popping up which means you definitely need to think twice before giving them your hard earned money. In order to avoid falling into a review scam do not believe the first one you read. You need to find at least 2 other corroborating reviews if not more. If you get blasted with warnings about not leaving the website or else you will miss out on the opportunity you’ve been presented with even more reason to suspect a scam.
If you think that the website you are reading is a scam I suggest reading more than one review on that site. If they recommend multiple scammy looking services you’ve found another red flag because at this point there is a great chance the site is in business to lure unsuspecting traders into depositing their hard earned money. It is possible you will find some reviews that are good and some that are bad but that is just camouflage. You know, making one review appear to look legit by hiding it among a dozen that uncover true scams.
Scam Binary Options Reviews
There is one watchdog review website I know that is very good at camouflaging review scams among its many scam reviews. Take for instance this Virtnext review. The watchdog says Virtnext has been tested and that it is the most profitable system on the internet. When I went to the Virtnext site all I found was one big scam.
The first thing you see is a video made by a paid actor, along with the claim you can make $18,000 per day. The next thing you see is a claim of free access, along with a timer counting down to when the offer is no longer valid (every time I go there the timer says the same thing, 10 minutes and counting down). Once you begin the sign up process by giving your name and email you enter a sophisticated sales funnel that leads you to … deposit with a broker, and you better do it fast because there are only a few spots left!
What this watchdog site doesn’t tell you is that the people behind Virtnext are the same people behind many other scams including the PushmoneyApp, the 1k Daily Profit and the Copy Buffet Software. This is what they had to say about the PushMoneyApp….
Needless to say that this is a huge conflict of interest and does little to aid the credibility of the reviews or this website. If you think you have found a site like this I would love to hear about it in the forum.
The Bottom Line
The bottom line is that looking for get rich quick schemes for binary options is a fast way to get scammed. There really are none that truly work, at least not the way the scam artists would like you to believe. Trading successfully takes dedication and effort, if it were as easy as using a robot or autotrader we would all be living on a tropical island. Believe me, if it looks to good to be true it is.
If you really want to find a useful signal service or trading app I suggest you look into my review of Investoo.com. This site doesn’t require a deposit, the fee is low ($100) and you get a lot of value for your money including 300+ video lessons and MT4 indicators that generate trading signals.