In the recent past was noted increased number of auto trading scams is appearing on the binary market. Traders are no longer sure how to make a proper decision, and what software is safe and what is just a scam.
In order to assure safe and transparent trading environment, FairBinaryOptions did a review of a new auto trading software that is being advertised online – Neo2. And while Neo2 is using an almost 150-year-old theory as a fundament of the software predictions, there are many things that are indicating this might be a scam.
Solar Changes and Modern Economy in Neo2
According to the video available on the website, NEO2 was developed by Jack Piers, Ph.D., and self-described weather enthusiast, with a little help of his friends: IT prodigy Amit Gupta and binary options expert Michael Freeman. The first version of Neo2 software was developed in the garage belonging to Piers’ parents.
If we take a closer look, this story could be considered a mix of several startup stories like Microsoft’s, as well as the pop culture stereotype of Indian IT expert. Even though these stereotypes and urban myths about Indians myths are far from the truth, there are deeply integrated into the everyday culture and are not hard to believe as they are constantly perpetuated tv shows and movies.
Just a quick Google search shows that there really is an entrepreneur Amit Gupta, but he is in no way connected to Neo2 software. Founder Jack Piers is mentioned nowhere, and name Michael Freeman only sounds familiar because of the actor Morgan Freeman.
Neo2 Website Analysis
Unfortunately, for an auto trading system that claims to have such superb IT team, Neo2 has a really bad functioning website. If this software is legit, there is a big chance this is just an honest mistake, and if it isn’t then they should be aware that their website has many characteristics of scam auto trading websites.
All links visible are not active
For example, all links on the website are dead. There are no active links, except the one about Terms and Conditions. However, Terms and Conditions aren’t detailed enough and don’t provide sufficient information for traders. As T&C is basically a contract between the service provider and the person using the service, these Conditions simply can’t be taken as a legit proof. Also, there is no information about the company that can convince traders Neo2 is a legit software.
Visitors see the pop-up instead of links
If traders try to click any of the categories on the website, they will be faced with a pop-up window requiring a registration.
Neo2 Software Details
According to the video on the website, Piers is a weather enthusiast who takes great pleasure in following weather and climate changes. He developed Neo2 auto trading software after developing a prototype program for following changes on the surface of the Sun and their effect on Earth’s climate. Later, he allegedly realized that it can be used for binary trading as well. He explains his software like this:
“Trading tool that was never seen before, predicting winning trends by utilizing solar, weather, and the environmental factors and merging the results with today’s cutting edge binary options trading algorithms.”
However, the idea of combining climate change and financial markets and global economic movements is nothing new. It was developed by William Stanley Jevons and his son in the 19th century. Read more about this interesting theory.
Neo2 software video uses many words that sound scientific and educated but never explains how the entire theory is integrated with binary trading, what the service is all about, what brokers are available, or how signals are generated.
Neo2 is not sure whether the Kickstarter campaign has started or not
All beta testers, who sign up immediately, will get Neo2 for free, and after Kickstarter campaign starts, the price will be $7,900. Such approach is very common among scam auto traders. Especially when someone, like Neo2 has mentioning of Kickstarter campaign that has already started, but says that it isn’t. It seems as if they can’t decide whether the campaign is active or not.
Neo2 False Representation?
Neo2 claims to enable binary trading on ‘autopilot’ – a word very popular among scam auto trading systems. It provides high win rate of 85% even for traders with no trading experience. All this seems a bit suspicious when heard from people in the video as not even they don’t sound convinced, but as mere actors who learned text by heart. Are they actors or not – every trader has to make a decision by themselves.
On concerning fact is that Neo2 accentuates the fact that they are approved and supported by many influential magazines and opinion makers. In the very intro of the video we see they are reviewed by The Wall Street Journal, and later in the video they claim to be approved by GeekWorldMagazine, FastCompany, and the German edition of Technology Review. Yet, the ‘journalists’ in the video are never named, and simple research on the websites named shows that Neo2 is never mentioned.
Is Neo2 a Scam?
FBO never tested Neo2 auto trading software so we can not positively say that this is just another online scam. However, there are some worrying elements in their promotional materials as well as on the website that could be considered elements of scam, so it is not recommended to use this auto trading system.
During Neo2 review was noted that this software is suspicious in following elements:
- No company information and vague T&C
- Promises of easy money in short time ($4,000 a week, 85% win rate without evidence)
- Vague product description
- Misrepresentation of presence in relevant press
- Usage of methods usually attributed to scams (‘get it now, or regret later’)
- Actors in promotional videos
Of course, some might say how every type of financial trading promises high returns, amazing payouts, and other great things, but keep in mind that they also carry a risk warning, that can be seen nowhere on Neo2 website.
Also, all financial products are well explained to the smallest detail, and come to specific terms and conditions. Andy while an average customer doesn’t expect a woman in detergent commercial on TV really to be the mother of 5 kids who play soccer, it is expected to see founders when it comes to commercials promising revolutionary products that should change trader’s life. Let’s not forget the fact they claim to be recommended by influential media while reality is somewhat different.
Instead of using Neo2 auto trading, try CopyOp instead – it is a popular social trading network that allows traders to follow other successful users.