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The Binary Options Software Scam

The binary market is being invaded and traders need to understand the new challenges that are endangering their trading accounts and the community itself.

The binary options market is growing quickly and this is attracting a new breed of vendors. The money seeking online marketer is infiltrating the binary options software market with bad products and even worse intentions. This market is no stranger to difficulties. For years, binary trading has been under a dark shadow due to the deceptive nature of unregulated binary options brokers. Now, this danger is amplified by vendors who are willing to say and do anything in order to get commissions by referring traders to sign up with these brokers. The most recent trend of course is the free software offer scam.

The free software scam is simple, binary options vendors put together a sales page with a marketing video and a members area that can be quickly accessed by entering an email in a subscription form. These pages are inundated with aggressive marketing tactics. They contain poorly acted testimonials, falsified results statements and constantly push traders to act now. Every single day more and more of these systems flood the market and sweep up unsuspecting binary options traders. One of the main issues with this revelation is the fact that it’s creating a widespread misconception of the binary options market. It is becoming more and more common for traders to assume the binary options market is purely a gamble and something that can’t be trusted. This is not the case, but new traders that approach the binary market generally find themselves locked into a bad opportunity being pushed by unscrupulous vendors.

The strategy behind the free software scam is alarming because it’s so effective. These vendors tell traders that they can make money quickly and efficiently with no knowledge of the markets or prior trading experience. Then, they tell traders that if they deposit as little as $250 with the vendor’s recommended binary options broker they get access to a system that is going to do everything for them. By the end of the week this new binary options trader has lost the deposit and the software developer is nowhere to be found. Unlike real binary options software vendors the free vendor has no obligation to the client after the deposit is made. Once the trader makes an initial deposit the vendor will collect his commission and disappear. In a few weeks that sales page will be collecting dust and this vendor will be onto his next set of victims with the exact same sales model under a different name most likely selling the exact same software.

Binary options traders need to understand that there are unscrupulous vendors in this market and 90% of them are all using the exact same marketing methods. If you come across a binary options software that’s telling you that you’ll be a millionaire in one month and don’t have to do anything, think twice about it and don’t reward these vendors with commissions they don’t deserve.

11 Comments

  1. Hello Dean,
    Sounds like there are scammers in every walk of life. Binary Options is so new I have only heard it talked about a handful of times.
    I am interested in getting more information about how to get involved, how would I go about it?
    How did you get involved?
    I look forward to your answers,
    Thanks,
    San

    • Hi San, Thanks for your comment. Like you say there are scammers in all walks of like, and I got into binary options by believing in one of those hyped up sales videos that said I was going to be financially abundant in a short time. I knew it was a scam- it had to be.. it was literally too good to be true.. But what happened was totally remarkable. I received a call from the broker I signed up with (through the scam software) and I had a relatable chat with a nice chap from Cyprus. He explained a bit more about trading binary options and how to get started.

      I am a hard person to convince but my mind was already made up.. I was going to sink my teeth into this and give it all I had..I knew that trading for a living was possible and I was going to go as far as I could.These Fat Cats and Wall Street Tycoons saw me coming and I lost a lot of money but I gained lessons that were invaluable.

      I tried many different software’s and signal services since then and each of them has helped me grow as a trader, as for that hyped up sales video – the financial freedom scam I thought was too good to be true, Well not only did it lead me to a life of wealth I never new existed and it did in fact deliver the financial abundance it promised in the sales pitch. It just took much longer than they said it would and there was a lot of ups and downs but it in the end it delivered on its promise. Success comes to those who truly believe they can have it.

      If I were I tell you that you are going to be a millionaire in a month, Unless you believed it and expect it to happen, its not going to happen.

      Now if I told you were going to be a millionaire in a month and gave you detailed step by step instructions on applying a proven wealth building strategy that ensured you were going to financially abundant for the rest of your life. Would you believe me?

      Whether you believe me or not it doesn’t matter. What matters is if you believe in yourself. Before anything can happen in your life you have to believe its possible.

      I am trying to cut through the bullshit here, nobody else is responsible for your personal success. Sure there are people and products that help a great deal but greatness comes from within.

      The only people who MAKE money work in a mint, the rest of us EARN money by providing people with services or products that are needed and useful. If you would like more money you have to be of more service.

      The success I have from trading comes from the correct application of specialized knowledge I have obtained in my field of expertise. I have found binary option trading to be the hardest yet most rewarding career decisions of my life.

      Through giving 100% of my effort and dedication into learning how to read and analyze the market I have become one of the most successful Binary Option Traders I have come across, I don’t mean to toot my own horn but I am a daym good trader and I owe it all to my perseverance and dedication.

      I do offer free mentoring Via Skype for those willing to learn.. http://binaryoptionalliance.com/success-with-binar

      All the best

      Dean

  2. Hey Dean,

    I have been seeing more and more posts regarding these types of “scams” for binary options software. I honestly have always ignored anything trading related when it comes to random marketing online because I feel it’s always a gamble, ESPECIALLY if you have no idea what you are doing.

    Like most scams, these con artists promise people the world with no work or effort. I still don’t understand why so many people buy into this. They are so good at playing on your emotions that people sign up knowing it is too good to be true and lose their money.

    I do have a question though. This is one of the first posts I have seen that mentions something about real binary options software. I assume that like with most trading there is software that will help predict trends. Is this something that the normal person would be able to buy or is this something that you would look for with a broker before you invested your money?

    For the most part though, I think people should really do their research before jumping on board any opportunity. Trading even more so because it technically is a gamble to some extent. There is never a guarantee that you will keep, make, or lose money. But that is probably why these vendors “selling” BS software get so many customers because people see it as an easy way in while being able to skip all the work.

    Jean

    • Hi Jean,

      The people who assimilate trading with gambling are quite often people who do not know much about trading and understand very little about how the financial markets work.

      Trading for a lot of people serves as a self development tool that improves all areas of their lives. Learning how to master risk and keep emotions stable under extreme pressure are some of the life skills trading as taught me. The entrepreneurial essence of the work is met with continuous adversity. When it comes to trading the gamblers are chewed up and spat out like a stick of gum, they get taken for all they have because they do not have a set of rules or a system in place that minimizes exposure to risk. Real traders are not afraid to talk about losses and take losses, because they know they have sound system or set of rules that ensures they will be profitable at the end of the month. Traders are the liquidity of the economy and we are coming out of the shadows…

      In regards your question about binary option software Jean, there are a plethora of options when it comes to finding a profitable edge. Some of the best software is available to be purchased online but knowing how to use this software effectively as a beginner is another story. That is why I would recommend going with a trusted signal service if you are starting out, with a signal service like Chris Mortons Private signals group you receive quality trade recommendations from real life professionals traders. Available via monthy subscription or you can gain access via deposit with one of their recommended Brokers. I’m receiving a lot of good feedback from the members of BOA signal group which is another service I would recommend as I run the service 😉 I do extensive market analysis twice a day and send trade recommendations Via Email, its only available via deposit with one of the brokers I trade with personally.

      Only about 5% of the people who are trading binary options on their own are actually making consistent money and the majority them that I have met did it by learning how to read the market and by making their own predictions, which is why I teach my signals group to interpret price action and read financial charts as easy as the Sunday paper.

      As I always say ” Teach a man to fish, he is fed for life. but teach a man to trade, he’ll buy you a yacht oneday ”

      Cheers for your Insight Jean

      Dean

      • Well I wasn’t equating trading with gambling but I am saying it is technically a gamble. The fact that good traders have to be ready to take losses, do take them, and talk about them (as you mention) means making money isn’t guaranteed BUT with knowledge you can minimize your risks substantially; which is what I meant by it not be a great option for people to just jump right in with no idea what is going on. Those people are the gamblers 🙂 and in the long run will lose.

        Whereas a normal hourly job or salary job that money is guaranteed. I will never go to work one day and not get paid as long as I went :p And I def. won’t lose money (at least I hope) unless I get robbed working there. Though I self publish and do affiliate marketing. I have lightly looked into trading binary options and other trading opportunities. We have a friend who makes all of his money trading all day long online.

        I have only avoided it because it looks like something that would take so much time to master to really understand how the markets work. Which I assume is really where your 5% fall into, they learned it, understand it, and can predict it.

        But please feel free to buy me a yacht (maybe I’ll do my fishing from it!)

        Jean

        • Whether you are equating trading with gambling or saying trading is technically a gamble matters not. The fact of the matter is that good traders only work a few hours a week and earn a lot more than your average Joe.

          Whereas with a normal job or salary job you would never be able to afford the finer things in life (except on special occasions with years of savings). I’m talking big here- like Private Jets and Pent Houses. Trading is the world biggest game and only a few willing and able to become accustomed to rigorous skill development, constant refining and discipline required to be in that top 5%.

          I chose trading because I enjoy a challenge and not afraid of hard work. I work long and hard for the results I desire and I really enjoy the art of trading. Affiliate marketing is also a hobby of mine, wealthy affiliate is my number one recommendation for newbies looking for an easy way to generate an extra income online.. Internet marketing is a booming business, there is no limit to the amount you can earn working for yourself online, much like trading;)

          What got you involved in affiliate marketing and what was the best program that contributed to your success? I’m keen to hear about your experience Jean, Perhaps you have a few good ideas to help improve my site, who knows- I might consider your yacht.

          Dean

  3. I would have been surprised if you had defended any binary options trading software
    Because long story short, binary options softwares are all scams
    The only way to trade binary options successfully is by learning how to trade on your own
    How long have you been trading binary options and what trading strategy do you use

    • Hi Fidel, thanks for your comment. In my experience people who go around calling binary option softwares all a scam usually have something to hide or are non the wiser, perhaps you should not be so cynical.

      I have been trading binary options for over three years and I have found lots of software that is extremely useful for binary trading. The software that I use accurate and I can show it to you if you would like Fidel, I see you are running a binary option website and I would be happy to show you some software that can improve your trading. If you would like to trade with me and get access to some great software. Check out http://binaryoptionalliance.com/success-with-binar… As for what strategy do I use… I use much more than just a strategy. I trade a methodology that was taught to me by a 30 year professional who charges $10,000 for private mentoring. (Worth-Every-Penny) the methodology is a “system” that allows me to trade on my own like a pro with confidence.

      Yep I agree with you, the majority of people who are successful with trading have achieved it by learning how to trade like a pro. However there are services and products that can assist you in making profitable trades..

      Happy Trading

      Dean

  4. What’s up Dean,

    Ran across your site looking into a binary options robot training product, I’m really glad I found your site before making a purchase.

    I had no idea that there were so many binary option trading systems out there all doing the exact same thing……scamming us at all!

    I was wondering, since I’m here, what is your recommendation on a legit way to get started trading binary options?

    I’m still interested in trading and would like to get your professional recommendation since you saved my butt from a scam!

    Thanks in advance

    Brok

  5. Hello,

    It sucks that it’s become fairly difficult to find actual training for those interested in binary options. I was interested in binary options last year, but I didn’t have the knowledge or skills to start investing. Because I know binary options and investing takes risk, I’ve held back until I am well informed in what I’m getting myself into.

    It is really frustrating that these “free” binary options software scams are deceiving people into depositing their money and not provide them with value.

  6. Thanks for a great article. As an options trader (primarily covered calls) I’ve heard the term binary options but really didn’t know what it was. Since reading your article I’ve done a bit more research and am more well-informed. It saddens me that there are so many scams – anyone involved in trading is no doubt well aware of all the people trying to sell you something…”the miracle money-making system”….but the truth is that the only way to trade the market is through education and hard work. Like everything in life. Thanks for alerting me to this new type of scam.

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