So SoXange is not exactly a binary options trading robot but rather a binary options trading platform that is exclusively dedicated to social trading. As binary options trading grows in popularity, so too has social trading; in fact, most of the top binary options trading platforms such as SpotOption already have social trading functionality built in.
So is SoXange worth signing up as a separate platform? Or is it a scam? Check below for our full 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
Not Reliable Service
What is SoXange?
Unfortunately, SoXange is not a legitimate trading platform but just another scam. Here’s the best part, SoXange itself is just a recycled copy of another scam. And by another scam, we mean 3 other scams, being Investocopy, Copyinvest, and Copyactiv.
Take a look at the user interfaces of all 4 platforms and you will see that they are practically the same.
It’s so blatant that it’s clear the scammers are extremely lazy and only bothered to change the interface once; hence there being two interfaces for four different platforms.
The fact that there are multiple clones of the same website should already be tripping your scam radar. The practice of rebranding scams under different names using the exact same everything or with slight changes is the exact behavior we see with many scam robots. So right here, the signs are pointing to the fact that SoXange and the other 3 platforms are nothing but scams.
But let’s look a little deeper, shall we? How about we take a look at the so-called successful traders in the platform themselves? Well, what we will find is that multiple traders are replicated exactly across each of the platforms.
Here’s one trader known as ‘kevinfast’.
And finally, we have ‘BabeYoga’
FYI, Investocopy was the ‘original’, it was the first and most popular and the other 3 platforms are just copycats. We find it quite poetic that a platform allegedly built on copying other people’s trades is itself being copied to propagate its scam. It is likely they are all owned by the same person, though.
And Investocopy, being the most prominent of the scams has been the subject of warnings by both the Italian and French financial regulatory body: the Commissione Nazionale per le Società e la Borsa (“Consob”) and the Autorité des Marchés Financiers (“AMF”).
How Does It Work?
As we have mentioned repeatedly throughout all of our binary options robots scam reviews, essentially these are nothing but affiliate marketing scams. They offer you a supposedly great product, promising fantastic success rates, some of them totally in the realm of fantasy, and all for free! They usually justify giving away such a fantastic product for free by claiming something like they’re already rich so they want to give back to society, or by claiming they are looking for select beta testers, or by saying that in the future they will take 50% of your profits or something.
When you sign up through the robot, you have to fund your account with their partner broker, and that is where the scammers make their money. Since they are affiliates of said broker, they will get a nice cut of whatever amount you funded the account with. Before you even start using the robot (and find out it can’t perform as promised), the scammers have already been paid! And the brokers themselves are usually unregulated and in some instances, totally unethical.
In the case of SoXange and the 3 other platforms we mentioned above, they are also affiliate marketing scams. While they are not being advertised as robots, their business model is the exact same. We were not able to determine what broker SoXange is partnered with as it appears the scammers have already moved on. However, we did some digging and found that apparently, Investocopy used to be partnered with OptionWeb, which, fortunately, is CySEC regulated.
Final Conclusion: isSoXange a scam?
Nothing in life comes free, so if you see a supposedly great product that would bring you financial benefit being offered to you for free – be skeptical. SoXange is no different and is just an affiliate marketing scam. Avoid.
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