By André Faust (Oct 10, 2016)
The internet is full of scams, Binary Options trading is one of the latest of these scams.
Binary Options Trading(BOT) is where you bet that a stock is going to do better at the end of the day. For most of the traders, the end of the day is defined at three o’clock in the afternoon. Binary options trading is all or nothing if the stock that you bought does better at the end of the day you make a profit if on the other hand it does poorly you lose your investment.
To get an idea how binary options trading works, let’s look at this example, for example, you decide to make some money on the stocks. At 11:00 in the morning you look at the value of the stock and it is 240 dollars, you are confident that at three o’clock the stock will go up in value so you invest 240$ in the stock, at three o’clock you check and the stock did well it and it closed at 1,000$ you made 760$ dollars, on the other hand, if at three o’clock you check and the stock did poorly less than or equal to 240$, you lose your investment. Binary Options is extremely risky, much like the VLT video lottery terminals, like any kind of gambling people can get addicted to Binary Options trading and lose their life saving.
The core of the scam is the scammers will claim that they either got their hands on secret software that have to ability to analyze the stocks and tell you the winning stocks or they have written the software using complex algorithms to calculate ahead of time if a trade option will go up or down, and if you use their software, the software will only invest your money in the stocks that go up so that you always make money.
Wow! Wouldn’t that be something if one could write a piece of software that had the ability predict the performance of stock market? The reality is that science isn’t there yet to create the artificial intelligence and amount of computing power that would be required for such task.
Common sense tells me that they are too many variables to predict with any accuracy what a particular stock will do. Imagine if you took someone who you knew very well and you try to predict every little detail that that person would do in the future even with the best statistical tools that are available predicting a person’s future behaviour is next to impossible.
These scammers seem to have an intuitive understanding of human nature or they have at one time or other taken some advanced marketing techniques to persuade you to use the software. One effective technique is the limited time offer, which you have already seen in the weekly advertisement flyers, or on radio or television advertisement, “Act now this offer ends in X number of days”. Well, the Scammers use the same technique, in addition, they also make you believe that you have lucked out in finding their get wealthy software but to get the software there are only so many places available, once those space are filled up you missed your opportunity to get filthy rich. What this free software does is places your investments with a pre-arranged broker that it selects. The scammer makes a commission from your investment regardless if the stock does well or not. The broker is still playing the probability game, the software does nothing in guaranteeing that most of the stocks will go up.
The John Lucrosa is a model site to put pressure on a person to sign up now, as part of the persuasion technique it has a countdown of how many places are currently available. The timer starts with 21 places, then starts counting down the spaces available 20, 19, 17 and so on.
While it appears to be a real time counter, it isn’t and all you have to do to reset the counter is do a page refresh and the counter will reset back to 21. How can that be if the counter is based on people getting “on board”. What is interesting is the Lucrosa site will report your countries location to make the user believe that the scammers only select people from your country of residence.
Using a virtual private network (VPN) you can change your location, from the current location. For example, if Canada, is your current location you can use your VPN and set your location to Germany, the Lucrosa website will now report your location to Europe instead of Canada.
Most of these binary option trading scamming sites will include endorsements from businesses, such as Better Business bureau, Trustwave, McAfee, Norton and Truste. While the image of the endorsement may be present there are no links to the endorsers. That is a sure sign that this is a scam if you can’t verify the business who endorsed the site as being legitimate then you know that the site is not legitimate.
One final check to determine with you are working with the real McCoy or it’s just a money grab if the actor provides you with any name, do a google search, I did a search on John Lucrosa, because he claimed he was a guru, and Forbes and other companies had given him a positive review.
The results returned where not to compalimentary to John Lucrose most of the articles claimed that the software that the software he created was a scam to get a commission from the investments.
Scammers and con-artists are becoming more sophisticated each day the main site is located in one country while the domain name is registered in other countries, and as well they have serveral domain names to redirect users to the main site, Strategis as such making it difficult to figure out who owns the site., Lacrosa the latest of the scammers goes beyond a network of sites he has hired profession actors and professional video and web developers to make his get rich software look credible. Contrary to the “instant Cash Clube video which appears to be the same quality of a low budget porno movie, the Lacrosa video looks professional and credible.
All Binary Traders have one thing in common and that is , they all claim they have the magic software that is limited only to a select few and if you use the software it will make your rich when you play the binary options trade game.