Expert Option SCAM ALERT!
7-Minute Video Review
About Me...
In short, my name is Ado Djulbey and I have been successfully working online since 2006 (on and off) doing mostly affiliate marketing.
I have also operated a site called WAHOR, a highly successful work at home review site, alerting my visitors to the online scams and giving heads up to the best and legitimate work at home opps.
With that said, I will share with you my experience with Expert Option, and at the end of the article, I will point you to what I believe to be a much better way to earn online...
Binary Options
This past month I have been busy fiddling with binary options, and I thought I'd share my experience with everybody...
For those not familiar with the term, binary options are a type of trade where one simply predicts whether the price of an asset will go up or down within the next minute or so. If correct, you receive 70-90% return on investment, otherwise you lose the entire investment.
It's also worth noting that since no actual assets are being bought and sold, one can argue that binary options are not real investing but a simple bet between the user and the broker, where one side profits at the expense of another's loss.
Nevertheless, seeing how most binary options brokers give you a demo account before you invest any real money, I decided to give it a go.
Scam #1: Demo vs. Real Account
Being the mathematical genius that I am (ahem lol), i was able to turn my $10,000 "fake money" demo account into $1,000,000 within 5 days by using a simple betting system combined with some good timing and reading of chart patterns.
Now my personal issue with this was that it looked too much like gambling. But after I was able to flip the odds in my favor and was winning 9 out of 10 times, "playing" (I'm still hesitant to call it trading) just 1 hour per day, i started thinking: "if it's that easy, it's not really gambling"
Trying the Real Account
As soon as I deposited real money into my account I began to lose. I lost 4×$50 in a single day. The thing is I would have stopped at $100, but I kept thinking I was just very unlucky, seeing how I was making constant profit on the demo account before that.
I got to thinking. I kept saying to myself: "Maybe because it's Saturday (markets are a lot more stable on weekdays), maybe I was just very unlucky, or maybe....maybe the charts were rigged.
And after reading comments online about these companies fiddling with the charts, i did a quick log in and out of my real account, and here's what I got:
Real Account:
Demo Account
At first glance they look exactly the same, but look closer, you will see that the lowest points are lower on the demo, and the highest points higher. Not by much, but just enough to make a difference between a win and loss on a 1-minute trade ;)
At first glance they look exactly the same, but look closer, you will see that the lowest points are lower on the demo, and the highest points higher. Not by much, but just enough to make a difference between a win and loss on a 1-minute trade ;)
Here's another user's comment:
The fact that this particular company requires no confirmation to deposit money, but has a very detailed confirmation process upon withdrawal is kind of fishy. Although I haven't gotten to a point where I was eligible for withdrawal, i have read comments of other users' requests being denied due to 'violation of terms' and even their accounts being closed, although they were not answered which specific term they have violated!
Scam #3: Islamic Account
Being a practicing Muslim myself, I was very relieved by most companies offering some type of Islamic account for Muslim traders. However, they are focusing on interest-free accounts, which doesn't make much sense because how are you to accumulate interest in a 1-minute trade.
Yet the real issue remains, that binary options are a form of gambling, not because it's based on chance, but because you are profiting off of someone else's loss, making yourself of no real value to society.
Which Companies to Avoid:
The one I tried was Expert Option, because it had a really clean user interface that appealed to me a lot. However I have read many similar comments about IQ Option, 24Options, and others.
The Verdict:
Look, I'm not saying these companies are total scams, but be very careful and keep the following in mind:
- It's not trading it's betting
- The demo is nothing like the real account
- If you win money you are likely to run into problems with withdrawal, terms, etc.
- It's unethical because you are profiting when someone loses and vice versa.
- For Muslims, not a single scholar has declared binary options as halal, to my knowledge.
My Advice:
Instead of giving you a list of "legitimate" binary options brokers, I'm going to strongly advise you to avoid binary options altogether and save your hard earned money.
Instead, why not invest some of that money in a real, ethical business opportunity like affiliate marketing* that has made people like myself hundreds of thousands, and others -- MILLIONS of dollars, ON AUTOPILOT, even making money even while you sleep!
*Affiliate marketing is promoting already existing products for a commission (sometimes as large as 70%)
Earn up to $10,000+ AUTOMATED MONTHLY INCOME!*
No, I will not teach you affiliate marketing.
Instead, you will learn it from one of Clickbank's Top Affiliates, who has generated over 10 MILLION in online sales!
The best beginner-friendly program I found is called PerpetualIncome365, and they guide you step-by-step how to succeed in the online world by being an affiliate, and best of all...
They give you a cutting-edge software that will AUTOMATE most of the hard work for you (which is why it's GREAT for beginners):
Here's what you'll get with this State-of-the-Art Software:
- 6 Best-Selling Products to Promote
- 2 Ready Made Landing Pages, designed and tested by a Clickbank Multi-Million Dollar Super Affiliate (this is the page you will use to collect emails)
- 31 Done-For-You Emails That Convert!
- A High Quality Traffic Source to bring targeted visitors to your pages (which is actually the hardest part of affiliate marketing)
- 24/7 Support (Email and Facebook Members Only Group
And yes, after you've done the hard work to set it up, it can run on autopilot for YEARS to come, and you can just go to sleep (or find some other fun and prouctive things to do).
And after all, sleeping is more fun than looking at charts all day :) ;)
Oh, and the price, you're asking?
You get to test drive PerpetualIncome365 for just $9!
(nine USD dollars, it's not a mistake!)
If and only IF you MAKE MONEY with PerpetualIncome365 in the first 14 days, you will be charged a $47 fee if you choose to extend the membership.
(You will also need an additional $40 if you're running paid-ads, or you can just start off with free classified sites).
And if it doesn't work for you, you can even get the $9 refunded.
Now isn't this better than 'gambling' with options??
Disclaimers:
*This site contains affiliate links, which means we may earn a commission when you subscribe to services we recommend.
*Earnings are individual and may vary. We cannot guarantee earnings!
Thanks a lot for this! Will be giving Perpetual income a try...
ReplyDeleteYou're most welcome :)
ReplyDelete