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Globe Traders is one of the latest binary options automated trading software that claims to be able to generate anywhere from over $800 to over $8,000 per day! Possible? Read our review below!
Globe Traders is a software created by George Porter the president of Globe Traders a private invite-only private investment firm. They are looking for 300 investors and they already have 261 investors which means they need 39 more; a very select group! They even give you a $50 ‘demo account’ just to prove to you their software works.
So is Globe Traders legitimate or just a scam? Read on for our answer!
Software: 100% Automated
Max Returns: Up to 90%
Minimum Deposit: $200
Countries: All nations
- Fake claims and testimonials
- No real information at all provided
- Unregulated and untrustworthy broker
Not Reliable Service
What is Globe Traders Robot?
As is the case for almost all of these binary options robots, Globe Traders is another scam, although we do admit they did put a bit of an innovative twist on it with their ‘demo’ account, which we will explain later. In the meantime, take a look at these images of Globe Traders’ offices and private jets!
And while the scammers are trying to sell Globe Traders as some high-end boutique investment firm, this scam is actually very cheaply made; notice that there are absolutely no actors involved in this whole production, not even cheap Fiverr actors. All they had to do was pay a voiceover narrator!
Now, let’s take a look at Globe Traders’ gimmick: the $50 dollar demo account as well as their ‘risk calculator’ which again we admit is pretty creative. In the risk calculator, the scammers have installed a widget that purportedly shows you how much you can make using their software based on your deposit amount and your set risk level.
Basically, what they are saying is at risk level 1, the lowest risk level you will make a profit of $430 off your $250 deposit which is a 172% profit rate! Totally unrealistic, especially if they are claiming this is the lowest risk level. That said, this is quite a creative tactic and we are sure many people signed up just because of this alone.
Next, let’s take a look at their $50 demo account. Basically, what happens is after you enter your email address you are taken to a second landing page where you will see the following:
The chart on the left is totally meaningless and is something just to fool gullible people and what happens is that your $50 will ‘grow’ until it reaches $250. At that point, the demo ends and the narrator informs you that in order to collect your $250 you will have to fund your own account, resulting in a total of $500! Of course, people familiar with binary options know that this additional $250 will just be credited into your account as a welcome bonus and will most likely prevent you from making any withdrawals whatsoever until you fulfill some minimum trading volume.
How Does It Work?
These scam robots work by offering you an alleged fantastic product for free, claiming that all you have to do is fund a broker account. Therein lies their business model; these scammers are affiliates of said broker and they receive an affiliate commission upon the funding of the account, meaning that once you discover the robot doesn’t work as it should, it’s already too late. Further, since you had to enter your details in order to use the robot, these scammers will probably sell your email address or use it to spam you with more offers for scam robots.
The broker we were assigned to when signing up via Globe Traders was Titan Trade, which is not only totally unregulated (as most of the brokers partnered with these affiliate marketing robot scams are) but the subject of numerous complaints as well (not uncommon).
There is absolutely nothing legitimate about Globe Traders. Rather than being a high-end investment firm, they are just low-end scammers on a budget. Give this poor scam a miss.
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