Every now and then we have day traders stepping up and providing us with evidence needed to BLACKLIST brokers, and in this case we had Carrol step up and provide us with live audio recordings of how she got scammed by a rogue binary options broker called Big Option. Now, we have about 30 minutes of recorded SCAM conversations between a victimized trader simply looking to profit trading binary options online, and Big Option which has been around for quite a while and has created a reputation for being one of the sleaziest brokers online today. There are also some fake reviews about this broker so be careful.
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Now, what you have here is just a taste of the original conversation and what went on, and if for some unknown reason we are approached by bullies or thugs that try to suppress this overwhelming evidence we will publicize 5 more incriminating YouTube recordings that are currently on private status. Only this time we will give out these recording free of charge to any blog looking to create a ruckus and it will go VIRAL in ways that can’t be reversed.
Furthermore, we have additional corroborating evidence and information stored under lock and key and will use it if and when we see fit. We know brokers can act as bullies and make threats when their reputation is at risk, so we have made contingencies for this.
In our post dated January 12, 2016 we outlined the most used binary options brokers scam tactics. I believe it’s fair to say pressure tactics were employed here, and I can pretty much promise you the name of the broker she is speaking to is most definitely NOT Allan Schweps. This name is too theatrical and most likely an alias, even John Smith sounds more credible than this since it is a very commonly used name.
“Taking it for a Test Drive”: This was the term used by Mr. Schweps who can’t recall when was the last time he spoke to our latest victim the last time, and insists it was his colleague Mrs Alvarez who did the talking (at least that sounds real even if it’s not). So, to make a long story short Carole insisted that she was mislead by a deceptive app called the Millionaire’s Club. Our staff has publicly denounced and BLACKLISTED this software on April 6, 2016 when it was launched. Carole specifically told the broker who promised her she would make money to give her a refund, unless she sees some profit from her initial investment. Needless to say Mr Schweps can’t promise something like this, and judging from his demeanor and pushy attitude the only thing he can promise her is a world of pain and financial destitute.
It’s also interesting to mention this person perceives himself to be a part of a financial institution. In reality Big Option is a textbook example of rogue operation. Now, every now and then they will payout, and generally speaking they will make sure that a certain amount of money exits the system but on the overall they are NOT your friends and they ARE after your money so be extra vigilant and when investing. Most people look for the system that can make them the most amount of money, when in reality its the broker which is the most important since that’s where you will be getting your money from, not some fake guru trying to sell you snake oil.
We have seen many scam auto-traders, signals, bots, and copiers hitting the market these days. The worst ones seem to be the Millionaire Blueprint (AKA Free Money System), Lie Detector Millionaire, Amissio Formula, Drexel Code, and Centument. This will not stop and at the end of the day it’s your responsibility to educate yourself because there are NO excuses and eventually you will have to pay the price.
We will not be recommending any offer today since this is not the usual SCAM REVIEW, this is strictly an educational post designed to wake you up and sharpen your senses. If you are hesitant and want to make sure which systems to avoid simply email us at binaryscamalerts@gmail.com and we shall revert as fast as we can. We can always be reached through our Facebook Page and YouTube channel as well.
Phoenix Trading is a Scam that Steals Credit Card Information
Binary Scam Alerts is posting a severe scam notice related to illegal activity, specifically credit card fraud conducted by the Phoenix Trading App and William Johnston from the Marshall Sherman Group.
Our staff has recently been swamped with a series of freighting complaints from traders telling us their credit cards were overcharged in an apparent conspiracy between Phoenix Trading and shady brokers operating out of Kazakhstan and Moldova.
How Does the Scam Work?
Traders are tricked by William Johnston into funding a binary options trading account with some shady unregulated brokers such as Optionmint or Inside Option. After depositing with their credit cards traders were astonished to see they were overcharged significantly, and are now planning to pursue these scam brokers and the Phoenix Trading APP with a class action suit.
Needless to say I was not shocked, but quite startled at the audacity and level of disregard these people have towards paying clients. However, at this point and time I will not reveal all brokers involved in this scam until everything has been clarified and all claims refuted with evidence and proof of fair play.
What is the Phoenix Trading APP and What Does it Do?
This automated trading software is downloaded to your computer and supposedly integrates to a broker. Auto-traders (BOTS) take positions or buy contracts based on pre-selected criteria and trade on your behalf. Similar systems include Virtnext and Mike’s Auto Trader, which are probably the only ones I can actually recommend these days despite some of the bad reviews they picked up here and there. The problem is with the Phoenix software is that it’s a rehash of an older scam called the Coffee Cash software and we heard a lot of people lost their money on that scheme.
Phoenix Trading is a Scam that Steals Credit Card Information https://t.co/emcd4epnxf pic.twitter.com/1tj05zKPWu
— binaryscamalerts (@binaryscamalert) January 26, 2016
Proof of Scam: Fake Logos, Certifications, and Marketing Tricks
Everything about this App and William Johnston screams scam for a variety of reasons. First, there is no Marshal-Sherman, and if you Google it you will just see a collection of review sites rightfully slamming this bogus offer. Fake testimonial pictures are just re-shuffled image bank photos that are set up in order to deceive potential customers and convince them the software is legitimate. By the way, people don’t really place importance on false advertising since it we have become accustomed to accepting it as a just another form of marketing, however these tactics lead to heavy fines and at times even extended prison sentences.
Valid Proof of Winning Trades?
The only evidence provided is the fake photos of some image bank actors and excerpts of supposed successful trades on a fake Twitter and Facebook feed which is not even clickable. This is obviously a cheap and sleazy attempt to create a sense of legitimacy and honesty, however after a closer inspection it’s quite easy to identify the same criminal-type patterns of manipulation these rip-off artists have implemented in their bogus offers. Please make a note of this, the only relevant proof you will ever need is actual screenshots of the trading history inside the broker account, anything else is just recycled code or performance widget designed to trick you into funding your account.
Fake Registration Process
William Johnston (fictional character) is telling telling you to register for the software, when in reality you are signing up for a broker. This is the most deceptive part of the con job, since choosing a broker is almost a religious process that demands extensive research and understanding of the market and how things actually work in this business. Remember that at the end of the day your broker will be wiring you the money, and not the nitwit in the commercial.
Exaggerated Amounts on Fake Profit Meter
If you are told you will be making $10,000 a day on Auto-pilot simply close the advertisement you are looking at and consider looking for alternative methods to supplement your income. You are very well on your way to getting ripped-off by professional con-artists who have been doing this for a long time.
Similar Scams
If you recall insured profits, the free money system (Walter Green), Binary Matrix Pro, the Mockingbird Method, Channel Ranger, and Insider John are all based on the same technological and marketing base designed to squeeze money out of innocent victims and into the hands of the affiliate marketers and brokers.
Signals and Automated Trading Tools
Believe it or not there are still some great ways you can profit these days trading binary options, however if you are looking for a ready-made or done-for-you system that will generate infinite wealth for you, then you need to wake up and understand that there is no such thing.
Conclusions and Recommendations
The Phoenix Trading App and William Johnston is an obvious scam and the broker that takes your money will steal your credit card information, over charge it and bleed you dry with nothing left in your wallet. I strongly urge you to stay away from this thieving software, and definitely not download anything on your computer, mobile device, or tablet since there is a high probability it will be infected with viruses and malware as this is a growing trend these days as we have seen in the Citadel and Centument Apps.
Fight Back, Learn How to File a Scam Complaint with Your Authorities
Binary options scams such as Insured Profits, Free Money System, Channel Ranger, and Mockingbird Method are getting increasingly more sophisticated and aggressive. Fortunately I have done all the research for you so all you need to do is bookmark this post and use it as a point of reference when you want to file a scam complaint with your local authorities.
Residents of the USA
There are a variety of options available to you, however the most effective and relevant branch of the government ready and willing to assist you would be the Federal Trade Commission and not the SEC.
Many viewers find this surprising and are not aware of it, however the FTC has a section completely dedicated to false advertising practices in its portal and even extremely wealthy organizations such as Nestle and the Coca Cola Corporation have been pursued by this relatively unknown regulatory body and have paid massive fines. Please make a note, Binary Scam Alerts is not going after the brokers in this specific case. This is a job for the SEC and USDOJ, and they have been resolute about bringing to justice and fining scam brokers which have defrauded US customers in the past, such was the case with Banc De Binary who was charged with multiple counts relating to Illegal Off-Exchange Options Trading. I may add that since then BDB headed by Oren Laurent AKA Oren Shabat has underwent strict regulation with CySec and is no longer accepting US customers. It’s also considered by many to be one of the leading brokers today offering investments in binary options.
How Does it Work?
Step 1. Go to the FTC website.
Step 2. Click the Would Like to Link in the Top Menu
Step 3. Select the Division of Marketing Practices section and proceed to file a complaint.
The complaint process itself is a bit tedious due to the nature of the business, so it’s crucial you gather the information, take screenshots, document phone calls and emails, and start asking questions about guaranteeing profits or am I registering for a software or a broker?
Residents of Australia:
You would need to report to the Australian Competition and Consumer Commission. Actually they have made it extremely simple to do so, and here is the screenshot below describing exactly how to go about doing it.
In terms of what type of scam, you would choose investment, and then proceed as to how you were contacted. If it was via Email make sure to save it as it will most likely be used as evidence in a court of law. It’s worth mentioning that if you have difficulty reading, there is a “listen” button available and using it will help you hear what you need to do.
The Advertising Standards Authority is the legal entity empowered to battle false advertising in the United Kingdom. Interestingly, you can even file a complaint via phone with this independent regulator and then be on your mary way and enjoy some tea cakes and crumpets.
I must add, the ASA was the most courteous and willing to assist in ways I could not imagine. When I spoke to them I really felt they were going out of their way to help me, and that is something which is very important whenever whistle blowing is involved. I was assured by the top person on shift that there is no way these people would have access to my private information and in any case these are not the type of people that retaliate so there is no cause for concern and that I would be completely safe.
Additional jurisdictions such as Canada, New Zealand, Singapore, Sweden, and the Netherlands have similar regulatory bodies that employ the same type of complaint process. So if you have been previously scammed and would like some form of retribution and justice, make sure to contact our desk and we can personally guide you on how to file complaints because we have done it ourselves. Furthermore, if you believe your money has been illegally stolen as a result of these scams we can help you get your money back. Additionally, if you are looking for free access to binary options signals or educational tools just contact us by leaving a message below this post or by subscribing to our YouTube Channel or Newsletter and we will revert as soon as possible.
