- 8 Money Management Techniques - January 4, 2021
- What Is the Best Possible Time to Trade - October 26, 2020
- How To Identify Seasonal Patterns in The Stock Market - September 16, 2020
Cash Loophole is one of the most popular binary options trading systems on the internet at least for the past few weeks. The company’s official page mentions that the software can run automatically and generate at least $20,000 a day.
The software is said to be developed by a so called expert by the name of Richard Sellars in 2016. According to the official website, Sellars and his team developed a powerful trading algorithm with the ability to generate $20,000 a day. The official website states that there are just 13 spaces or spots available for people to join and once those are filled the program will close.
The developers also claim that Cash Loophole is easy to use and so it can be used by a newbie trader. All that has to be done is to enter your name and email id, and after becoming a member, they can start using the platform.
Is the Cash Loophole a fraudulent software?
The first thing you will notice as we did is the mention of being able to generate $20,000 a day. It is a claim that the service seems to be very proud of because it’s mentioned on the first half of the page. The second claim is that it runs on autopilot, meaning that traders only have to register their account on the website and let the software do its thing.
The CEO of the company is a guy name Richard Sellars who is also the founder of Cash Loophole. Like other software we have reviewed here too the claim is that he was an expert trader working for top investment banks across the world.
But a sudden change of heart led him to quit working there and form a team to create a powerful trading algorithm. Sellars claims that since launching the software in 2014, he has made 100 people millionaires from across the world.
We had doubt regarding the trading software so decided to dig deeper into the claims and investigate if the claims could be substantiated independently. After thorough research, we can conclude that Cash Loophole is nothing but another binary options trading scam. Now that we have established it is a scam; let’s look at the evidence we uncovered during our research.
Cash Loophole is supposedly owned and operated by Richard Sellars who is also the CEO apparently. He also claims to have created a hundred if not more millionaires in the past few years. He also promises that people who join the software as traders will earn $20,000 a day. Plus, he further states that using the software is very easy and all that’s required is to create an account with an email ID and name.
When we tried to join with an email ID and name, the software or the website asked for money. That prompted us to find out more about it. Digging through the internet, we found that Mr. Sellars is a cheap actor.
Plus nobody on Wall Street even knows the guy. He also isn’t active on any of the top social networking websites. Also, nobody ever heard of him until this trading software was created and he is still an unknown person in legitimate trading circles. So, it stands to reason that Cash Loophole is a piece of junk.
Outlandish claims that boggle the mind
Visiting the official page of Cash Loophole will reveal that he claims to have made over a hundred people millionaires but how is that possible when nobody has heard of this software before?
Plus, if this was such a great software why isn’t everyone using it? If it’s possible to make a huge profit as the creator alludes to then why is it still a secret? We think that the claims are just a story put together in an effort to fool mainly newbie traders into using it.
The promise is that anyone who joins will start earning a huge profit which is said to be around $20,000 a day. The person does not need to be an expert trader or even have any experience trading because the software will handle everything with the autopilot system. However, in our experience, this is just a cock and bull story spun to attract people who are looking to become rich quick.
All The Promises Are Empty
Every claim on the website is bogus, and so is the CEO’s supposed profile. The creators of this scam came up with a tall story so that they can draw attention from people who wanted to make money online. The focus as with any other scam is on those who are not experienced, traders.
The video presentation is also full of fake promises. You are told that joining the software is free, and all that’s required is to create an account, but that too is untrue. If you want to signup on their official website by clicking on the ’register’ link, you are taken to a page where they will ask for money. The reasons presented are also fake. The motive here is fraud and everything on the website is geared towards somehow squeezing money out of your pocket.
The review was put together so that traders and even regular people don’t fall victim to this scam. These are just tricks used by all scammers, in general, to rake in as much money as much as they can and then disappear as soon as they appeared. It is for this reason why we warn you against using these types of systems.
Company date of formation?
The company’s domain reveals the startling truth which cannot be covered even by these scammers. The claim is that the software has been around for a few years and has over the years created hundreds of millionaires. However, if you take a look at the domain registration details, it’s not hard to see that the domain was registered just recently in 2016.
All you have to do is put the domain’s URL into Who.is, and the evidence is as clear as day. How can a website registered just last year have turned in over a hundred millionaires? Sounds fishy to us!
In this Cash Loophole review, we have uncovered a number of truths about this system and software. We have also busted all the promises made by the so called CEO who himself is a character shrouded in mystery.
All of the warning signs point to the fact that this is not the type of software you should trust to trade for you. We have reviewed many legit systems and software out there which you can trust but none promise $20,000 a month. It was the tall promise that raised one of the first red flags in this investigation.
- Misleading Advertisement
- Uses Paid Actors
- Lack of Information