Latest posts by Marcio (see all)
- IQ Option Adds 12 All-New FX Options, 2 Trading Tools and Technical Indicators - March 7, 2019
- 5 Interesting Currency Pairs to Look into in January - January 2, 2019
- Bitcoin Drops Over 12% Of Its Value In Just 24 Hours - November 29, 2018
As one of the fastest growing industries in the financial world, it is not surprising to find the binary options trading arena constantly being flooded with all kinds of trading solutions said to enhance a trader’s trading ability.
While some of these trading solutions may be genuine, many are actually scams. This is the main reason why this website exists. We are constantly monitoring the internet for any new trading software that claims to help traders generate profits at an astronomical rate and see if the claims holds up to our scrutiny.
For this review, we will take a look at the CashFormula trading system that was introduced by their founders, Tim Stafford and Professor Drew Cummings. Claiming a win ratio in excess of 70%, can the CashFormula trading system live up to its claims? Keep reading our review to find out.
What is the Cash Formula?
Also known as the CF Files, the Cash Formula is said to be a trading software that uses a secret algorithm to trade the financial markets with a phenomenal winning ratio. It is distributed by a company that was founded by both Tim Stafford and Professor Drew Cummings.
Here are some red flags about the software:
- One of the first red flags that we noticed about the Cash Formula trading was its purported origin. According to Tim Stafford, it is based on some secret algorithm which was stolen by some hackers which later sold the algorithms to a banking cartel which in turn accidentally leaked details of the algorithms to his anonymous mentor. Frankly, this is the kind of story that you only find in thriller movies or spy novels.
- The main issue with this story is the fact that the algorithm was stolen. Given the fact that it is illegal to deal with stolen material regardless of how many parties the stolen material has passed through, you will also become complicit in the handling of stolen materials. And if there is no actual risk of the authorities coming after you, then it stands to reason that the story of the algorithm origin is most likely fake which by implication means that the software is a fake too.
- Furthermore, given the anonymity of this so called mentor, there is no way to verify the legitimacy of the Cash Formula trading system.
The Man Behind Cash Formula
The promotional video for Cash Formula, presented by Tim Stafford, is light on the details, but here’s what we’ve gleaned. Tim Stafford, discovered a ‘secret loophole’ that has enabled him to siphon billions from the financial system, and made him a very wealthy man.
And now, because he grew up poor as the single child with two alcoholic parents, he feels empathetic and wants to give back to people in need of money, at no charge.
A quick Internet search will reveal that Tim Stafford is entirely fictional, with the only information to be found about him relating to this robot. Here’s the truth: Tim Stafford is an actor, and not a particularly good one.
Is This System Free?
The robot itself may be free but opening a trading account with their affiliate broker, FMTrader, which is completely unregulated, will cost you $250.
Are Those Testimonials Real?
Just like Tim Stafford, the testimonial givers are all paid, and because all of them are filmed in front of the same white background, they are likely actors as well (if the testimonials looked like they were filmed in their own living room, we would say they were from Fiverr). None of it is real, and there is no ‘secret loophole’ that will make you $20,000 a day sitting on your couch doing nothing.
If you don’t believe us, you can simply do some research on the names of these Cash Formula ‘success stories’. Such as ‘Lauren T’, who claims to be LinkedIn entrepreneur yet a quick search on the LinkedIn database will show no such person looking like the person in the video.
The Window Dressing Which We See
Here’s what the promotional video for Cash Formula shows us to convince us that the robot is legit. Some are so obviously faked, while others might need a more trained eye to spot.
- Photoshopped bank accounts showing hundreds of thousands or millions of dollars in the bank. This is standard with 99% of binary options robots.
- Fake testimonials, typically hired on Fiverr, but may use local actors as well, which is likely the case with Cash Formula.
- Countdown timers showing you that only a limited time remains for you to use the robot for free. Another standard tactic used by binary options robots; if you refresh the page you will see the timer reset.
- Out of context news clips used to support Tim Stafford’s rant against wealth inequality and the 1%.
- A supposedly bulletproof briefcase containing the ‘secret loophole’ that Tim Stafford uses to siphon billions of dollars from the financial system. This is so ridiculous we don’t know where to start.
The Important Information Missing (Partial List)
The ‘window dressing’ above may be enough to fool totally inexperienced people who have just discovered binary options and online trading, or people who don’t do their research in general. But here’s some stuff that is not shown which would have made it more convincing.
- Actual balances on broker trading accounts showing how profitable the software is.
- How the software actually works beyond a ‘secret loophole’.
- Live demonstrations of the software in action.
$20,000 A Day. Really?
In addition to the $20,000 a day promise, the Cash Formula website also says that they will give you $100,000 in free cash as incentive for you not closing the webpage immediately. If you think that’s going to happen, we don’t know what to say.
There is an actual ‘cash formula’ at play here, but it is not the Cash Formula that is being sold to you via their nonsensical promotional video. Rather, the real cash formula is the formula that binary options robots creators use to generate real cash…. for themselves.
There is no way you will be able to make this much money using this program
Where does that cash come from? It comes from binary options brokers, who these robot creators are affiliates of. When you or someone else opens up a trading account with one of their affiliate brokers by going through the robot’s website, they get a nice commission.
So indirectly speaking, the robot creators do in fact make money from you. That’s why they are all offered for free, despite allegedly being able to generate thousands of dollars in profit a day at zero risk.
Making good money trading binary options is certainly possible, but robots with false promises aren’t the way to go. Instead, take the time to actually educate yourself on trading and the markets and progress from there.
As if Cash Formula wasn’t bad enough already, if you do visit their website (which is now fortunately defunct), you will be greeted by a terrible popup. It’s the terrible icing on a crappy cake.
How does it work?
So let us take a look at how the Cash Formula works. Based on the explanation offered by Tim Stafford, the Cash Formula uses a trading concept of following “money waves”.
- Based on the periodical ups and downs which the markets go through, the Cash Formula exploits these cyclical movements by placing trades at the peak and trough of each cycle and compounding the profits each time a trade is made.
- The returns for the Cash Formula is said to be in excess of 76%. Because of the high winning ratio, the trading system is limited to making $20,000 profits every 24 hours.
- Anyone who joins the system would be able to generate a maximum of $20,000 in 24 hours of trading. So by filing up the registration form and making a small initial deposit of $250, you gain the chance to make $20,000 every day without any effort at all. If this sounds too good to be true then it probably is after we take into account the dubious origin of this software.
From our research and observations, we find that the Cash Formula is nothing more than a money making app for its creator. And the marketing of the Cash Formula is solely designed to get you hyped up and register for the software. We strongly advise you against joining this worthless scheme as you are most likely never to see your money again.
The unfortunate truth is scammers are getting smarter and smarter each day. Using paid actors and fancy terminologies to impress and gain your trust, they install a false sense of security and hope in everyone just to get people to sign up with them. So don’t be fooled by their empty promises.
- Free Software
- Dubious Origin of Software
- No verified trading results