[UPDATE] March 2016
My First Online Payday
Scroll below to read about Pro Binary Robot.
Binary Professor George S is already known among traders as part of ‘get rich fast’ scheme, but his engagement doesn’t stop at his web page. After we registered with his service, we soon received an email appointing us to join another possible scam My First Online Payday.
As it can be seen in his email, prof. George is once again promising amazing payouts and profits up to $350 a day, but this time, thanks to My First Online Payday.
The website of the software is filled with ‘live’ testimonials that are obviously preordered as the ‘users’ are obviously reciting the predetermined text and are Fiverr actors. Even the guy claiming to be the owner and creator of this innovative software is Fiverr actor.
It is also alluring investors with false promises of game-changing technologies and approaches, revolutionary discoveries, and high profits without actually explaining how. But, in the end, the site is very unresponsive, without any content, terms and conditions, and obviously a scam, just like prof. George. The only things, besides videos, that are working properly, are of course the fields that you are required to fill in order to make an investment.
According to the information gathered it can be presumed that the same scam is behind both ‘promising’ projects – prof. George and My First Online Payday.
Binary Options Doctor Professor or whatever George S is one of the binary options get rich fast schemes we want to expose in this article. It’s not so much about the ability of the aforementioned auto trading robot to create results for customers, but about using false advertising and insincere search engine techniques to create an impression of a risk-free product, while in fact customers do face the risk to lose their investment.
Creating a False Sense of Security
Most of “get rich fast” schemes draw on a person strengthen customer’s sense of trust, after all, here is a 35 year veteran in binary options business and trading, who will, for some weird reason make a website and share his profit making idea with the world for free. Isn’t that nice?
Well, it seems nice, but people eventually only think of the money and turn off their reason. In any case, we will try to shed some reason for customers to detect some of the common ways they might be misled on the Internet.
On the website of this “Pro Robot” the nice professor will try to present his case for making money in binary options, however, the site promises too much and lacks risk warnings that would be required by regulators or good business practices. However, if customers knew the risk, then such “get rich fast” schemes would not work for the most part.
Who is Binary Professor George?
Well, he is a 35 years veteran in binary options industry that saw first brokers emerge some 8 years ago. so much for that. If he wrote he had experience in the markets or trading, we would understand this, but binary? Don’t think so.
But look at all these awards! Well, do take a closer look. Those logos make customers think they mean something because not many people check, but there is nothing standing behind all the certificates and seals.
So if this guy is not a binary options expert, who is he and what is he doing?
Well, we can’t say with certainty, but we would say it is this guy from the online job marketplace Fiverr, where you can create your own testimonial video by old Englishmen to gain on the credibility of your service.
You will see that many of these guys promote binary options as well as other types of offers. So the dear professor George is just some guy you can hire too.
Other (probably) false credentials
After the introduction, the nice professor of the Professional Binary Robot lists some of the e-mails all the users sent him. It is almost impossible to check these before you deposit money to get your hands on those “profits”. All e-mails are forwarded for some reason. In any case, they relate to the website “bestbinaryoptionbrokers.net” which actually looks like a legit affiliate promoting legit brokers.
The Binary Expo 2015 that Never Was
Yes, good professor occasionally visits the London Binary Expo, this time, 2015. First we thought we have maybe even met him, but then we figured out that the “Binary Expo is not the “Financial Partners Expo we were referring to – you know, the one where we won an industry award for the best binary website. We do not remember congress hall – or maybe we were not invited.
Well, a search for that conference results in more Professional Binary Robot search results. And upon examining the pictures on the website, it is easy to notice that the conference hall where professor George is a keynote speaker, via Skype, we presume, looks a bit weird. Well yes, Its the same photo of the professor from above. He never spoke there because there is no such thing as the Binary Expo 2015, London.
Google Search Scam
Weird thing is that when you go looking for the Binary Expo 2015 London, you end up with results that redirect you back to dear professor’s page.
What is weird is that his landing page is found on a website of a funeral home.
We have no idea if this was paid for or just a hack, but it is a sneaky tactic to get discovered on search engines.
The Urgency to Deposit ASAP
The bad news with the Professional Binary Robot? Only 27 places are left. You did not think there wasn’t a catch? Well, there is none. Even though the website states that only 2 spots are left, the same amount of spots was left after we signed up to check out how the whole thing works.
The Professional Binary Robot
After you sign up, an account is automatically created with a broker and professor George explains the basics. For some reason, he is still talking about some limited amount of places while it is pretty clear that’s not true. We tried to find some risk warning or terms & conditions of a broker but found none. Even that guy with a stick robot had terms and conditions. With the Professional Binary Robot by professor George S, you have his word.
So to cut things short, why we don’t like the Professional Binary Robot by George s? First, we do not know it’s success rate, and it won’t rectify the damage to customers to know that. One major point with all “get rich fast” schemes is that they don’t work. In binary options as in other areas, eventually, the reality catches up.
But what is really disturbing is the fact that there is no warning of the risk that the deposit may carry. This is something that should be the basis of investor relationships in binary options. It is not fair to overpromise if it will never be delivered and not even warn customers, in small script, that they stand to lose their money if the trades that the Professional Binary Robot, or any other robot for that matter, makes.
See our article on scams to see why french regulator AMF warned against this problem in the industry. There are no guaranteed profits or secret systems that will make the money for customers.
Even for the Binary Options Robot, we seen returns on investment of about 6%, meaning that claims that the system will ensure $250 deposits turn into $34,714 are probably exaggerated. With assumed monthly return of 6% (which is, unfortunately, unreasonable) Binary Options Robot would reach the goal in 7 years. There is no magical trading opportunity that would do it in a very short period of time. There is no easy money.
Either find a good broker and use all available resources to learn how to trade or simply use some transparent auto trading robot where you can check win rates and patiently deposit to trade with realitic returns and expected volatility.
We have tried to make some adjustments to the Binary Options Robot strategy to get more returns, however, it will take a lot of experience.