When you visit Binary Cheat, the first thing you will notice is a huge video banner running along the top of the web page. If you click on the video or even if you don’t, it will start running. In this video, a guy claims that he purchased the so called secret formula to trading online which allows him to in his words ”cheat,” brokers and in turn make millions.
Another ploy used is that he asks people not to reveal what software they are using because that will get him into trouble. Apparently, it is some big secret which if revealed will mean that he is taken to task.
Despite asking you to keep a secret, he is willing to reveal the software to anyone who signs up on his website. Not only that but they will get it for free. Which means it is not exactly a secret! If you haven’t yet figured out why Binary Cheat is nonsense just yet then allow me to elaborate:
- The claim is that the software is a secret and if revealed it will get him into trouble, so everyone needs to keep the identity of the software a secret. But then he turns around and is willing to give it up for free after a person is signed up. It begs the question that if the story is true then why is he revealing the software to everyone?
- Then he claims that the software helps him make millions because it uses a secret cheat discovered. But if the cheat is revealed it will be shut down. Again why is he sharing it with the world for free?
I think this guy is taking everyone for a fool. Anyone who believes these lies is perhaps better off with losing their money by signing up. But any person with an IQ low enough fall for this scam will not have money!
It stands to reason that if in fact some flaw was discovered with an online trading brokerage or the bank the last thing people do is share it with everyone online. To start with exploiting holes in computer systems is illegal, and then cheating banks or any other financial institution is a crime in itself.
Anyone who is found to be using such a method and generating millions will land in prison. Plus, if a growing number of people started exploiting this so called ”cheat” then it will be patched ASAP.
How does Binary Cheat work?
The system is actually pretty simple, and anyone can understand it. What we mean is that it does not exist. It is solely a lie told to people to gather their personal information via the registration form and deposit money. Besides any and all money invested will be lost.
Once people register with the website, they are asked to choose a binary options broker to sign-up with, but you need one that’s recommended by the website. You cannot use any other broker than those which are recommended to you by this website.
You also have to use the link provided. So, click on the link provided by Binary Cheat. They say if you do it without using the link then you’ll not get the free software.
Interestingly a lot of emphasis is on the last part, and that’s because they want brokers to know which website referred them to the service. In our case, it will be Binary Cheat. Brokers pay a referral fee for every trader they refer. That’s how the system works to enrich the scammers.
The shady brokers recommended know that the system is a scam. So, traders are always going to lose money. Plus, with the money, they are charging they can easily pay these scammers a commission for every registration.
That’s how the system works! It’s simple, and yet it is a scam which will suck in all your money giving you nothing in return.
How should you avoid this scam?
The software is pushed by various websites, and you may also receive emails about it. Marketers promote this product because obviously, they get a commission each time a registrant pays $250 on the broker’s website.
If you don’t believe what we tell you just visit one of the shady brokers’ websites. Take Joint Venture for instance which promises marketers will receive a commission of $250 for each deposit and registrant. As a matter of fact, they host a competition and promise to pay marketers that refer the most number of people. Now, this should give you a good idea of how this scam works.
The website also offers marketers email templates which they say are proven to work and all they need is to fill in the blanks. Marketers use these templates to send out mass emails using their lists.
Shady review websites in addition to emails are used to reel in people and not necessarily from the trading industry. If you happen to come across any email pertaining to Binary Cheat or something similar steer clear of it at all costs or stand to lose your money.
- Clear Marketing Scam
- False Advertisement
- No Proof Of Winnings