LEARN THE *REAL* TRUTH ABOUT BINARY OPTIONS:
Something that I've learned in my binary options education is that "nothing is what it seems". There are scammers and liars around every corner - some of whom have even scammed and fooled me, sadly enough.
However, there are a few clues that can lead you in the right direction. One "rule of thumb" I follow is to watch out for any product that makes huge claims, such as promising income of "millions" of dollars in a month.
Here's a quick thumbnail list of things to watch out for:
- Look out for offers that take you to bad brokers, like the ones featured on my Bad Brokers List. This is sometimes a "red flag".
- Avoid the offers that have huge income claims - such as "millions" of dollars in profits in "one month". It's rare these offers are ever legitimate.
- Be careful about what links you follow! Scammers are so devious they set up "copy-cat" sites that mimic the real sites of good trading bots, like 100 Percent Profit Bot. Sadly, people get caught up in these copy-cat sites, get scammed, lose everything, then later post comments or reviews blasting the real product! It's actually really unfair to the creators of the real system, but these people don't know they ended up with a copy-cat product that sent them to exclusively bad brokerages!
- Skilled coders can not only mimic and create fake trading bots, they can create fake brokerages that mimic and look like real ones. It isn't that difficult for pros who are expert coders. It's a reality you have to be aware of, and one that almost no one talks about. It's part of why there is so much confusion out there.
I've done my best with my Master List -- my top picks of the best binary options traders -- to present the public with advanced auto traders and semi-auto systems. You will notice the top of my list contains professional systems with real testimonials, and a long history of success. Not all of them are perfect, not all of them will make you rich or necessarily even work, but they are far better than the usual "get rich quick", cheesy products you see now and then.
But why are binary options such a favorite target of scammers?
The reason is simple: binary options have been co-opted by a small but aggressive group of "bad brokers" -- these are unregulated brokers that operate out of countries like Somalia, North Korea and Burma. They are often run by criminal gangs or even the mafia. Yes, some of the people who head these organizations are dangerous.
Unfortunately, they can be difficult for authorities to catch because they are protected by the jurisdictions of third-world countries. Or they can simply shut down their operation and create a new website and brokerage somewhere else.
These bad brokers not only open unregulated brokerages, they run literally hundreds of websites that appear in Google search rankings. Most are phony "reviews", while others are more sophisticated. They hire marketing firms, often out of India or Pakistan, to "spam" the web and YouTube with confusing nonsense, often attacking a competing product, or promoting a scam.
Their methods are well-funded and sophisticated. They also create and market phony binary options trading bots, like Larry's Cash Machine or My Cash Bot, that lead directly to their scam brokerages.
Why is there so much confusion online?
It's very hard to find the truth. There are numerous so-called reputable, "honest" review sites online. However, practically half of these are scams themselves, or run by bad brokers or mafia criminals! I haven't found one yet I trust, except BinaryOptions.net, which seems reasonably balanced.
For example, there is a new site called "BinaryOptionsAnonymous.com". It looks and appears legitimate. However, it is most likely a fake site set up by well-known scammer Michael Freeman, of "Mike's Auto Trader" fame (click here to learn more about the clear evidence pointing to him being behind it).
Of course, this fake site is also obsessed with me, and contains an article full of bizarre hate and vitriol directed towards me. The claims in the article are weird lies that make very little coherent sense; it's surprising people fall for it, but they do. It would be funny - if these people weren't so dangerous, threatening and full of hatred.
Mike Freeman is also connected to another ridiculous scam site called "BinaryOptionsWatchdog.com", which heavily promotes its notoriously poor-performing trader called "Option Bot 2.0" and Freeman's own terrible trading bot.
People fall for all of this nonsense, because all of the sites mentioned above are proven to use fake accounts to post fake "positive" comments on their sites! This makes it appear the "public" endorses the site, and it is a very convincing psychological tactic! I would estimate 70% of the comments on their sites are from fake accounts.
I don't do that! The comments on my sites and videos are from real people. For example, every, single comment on my new brokerage site NoFeeOptions.com is from a real person.
Notice how complicated this "web" becomes when you look deeper? That's why you really have to pay attention.
Here's the sad part:
The public is missing out. Binary options present a wonderful opportunity for people! There are also plenty of good brokers that offer reasonably good services. There are good trading bots that people actually make money using.
And that's the goal, isn't it? To make money!
People intrinsically know that binary options could potentially make them a lot of money. So much money they could possibly retire or quit their jobs. At the least, they could make a decent monthly income of a few hundred or a few thousand a month. Most people would be happy with that!
That's why people are interested in binary options - they known deep down it can work.
The trouble is finding a good trading system and a good broker to go with it!
At the end of the day, the best solution is to use the better, more quality systems out there.
Yes, many of them still get attacked or called "scams". Most of these attacks are coming from bad brokers and other scammers, desperate to mis-direct you to their own worthless products. It's astonishing how it all works in terms of the level of deviousness!
I'm at a point now I don't even bother reading these review sites or wasting time on them. In fact, I spend even less time on YouTube, which is full of worthless videos that offer nothing constructive, or that can be trusted.
Unfortunately, I've promoted or endorsed a few bad products in the past myself, but I try to correct those mistakes. For example, I thought "Confirmed Profits" looked very good, but later it turned out to be quite terrible. When I found that out, I told my newsletter list to avoid it and posted a warning on my Master List.
I try to do that with any product that later proves to be seriously flawed, but I'm careful not to attack everything just because someone says it is bad.
I've found a lot of people have issues because of glitches or bugs on their computers, rather than the fact they are being "scammed". Or, sometimes a trading bot is good but they end up with a bad broker - then they blame the trading bot for losing, when it's really the broker causing the problem.
So, it can be complicated and I try to be careful about what I call a "scam". I know for a fact there are real trading bots out there that are designed to make smart trades and a profit. I'm not going to say it's "all a scam", the way Mike Freeman does - he just wants you to use his worthless trading bot!
A lot of people lose, too, because they are simply not educated on how trading works - at all. That's why I've set up my mentor program, and I provide my Binary Options 101 article to get people started.
I'm also trying to set up my own brokerage, NoFeeOptions.com, to give the public a real chance at using some of these good trading bots, like the better ones featured on my Master List.
I hope that day comes soon, but it will be a battle, because I am under attack constantly from some of the most ruthless, vicious people on the Internet -- most of these people are connected to the bad brokers, and they are really threatened by what I'm doing. I need your prayers now more than ever, but I know the Lord will lead me forward no matter what.
I leave you with this scripture, that keeps me going in the times of my deepest darkness:
“Blessed are you when others revile you and persecute you and utter all kinds of evil against you falsely on my account. Rejoice and be glad, for your reward is great in heaven, for so they persecuted the prophets who were before you."
- Matthew 5:11-12
(I would like to thank my webmaster for helping me put together this article and the graphic for it).