Don't fall for the Cobalt Code scam!

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In this post, we continue our mission to save as many traders as possible from falling into the hands of unscrupulous online scammers, selling useless Binary options products. The latest such scam is called: The Cobalt Code.

Armed with a professional-looking video, this binary options system is nonetheless another one of those online scams that promise you the moon but deliver absolutely nothing.

We have closely examined the video and webpage to verify whether the presentation is honest or fake. First warning sign was immediately discovered right below the video:

Cobalt code binary scam video


It is claimed that the Cobalt Code is “Trusted and Verified by: Bank of America, Citi Bank, Deutsche Bank, HSBC, Santander Bank” – this is absolutely preposterous. None of these giant banks would even consider verifying a home-based Binary Options system that’s used to execute trades for home-based traders, on the platforms of independent brokers.


If that’s not enough BS, under the bank logos we found some pictures of hired models, who are supposed to be happy users of the Cobalt Code, and all are apparently from our own country… Only they are not, since the flag next to their pictures changes according to the country that you’re visiting from. This is easily achieved by using a sneaky Javascript code. Just see for yourself by entering their website – you’ll see your country’s flags there, next to the same pictures of actors that all other countries see!


We then continued investigating by watching the video on the main page. The presenter tells how he used to work in mines, and shows a picture of him with his field clothing against the mine in the background. Well… something about the way the actor was appearing against the background of the mine, got us a bit suspicious. We presented the photograph to a graphics expert who examined the picture enlarged and determined without a doubt that it is a photoshopped picture – the actor has been photographed at another location, with different lighting, and then his image was pasted unto the image of a mine. So much for telling his authentic life story.


Fake picture in the Cobalt code binary scam video


The video also relies heavily upon testimonials of supposedly happy users, however they are all actors hired on a freelancer website, paid $5 to $10 for their fake video testimonial.


After filling our details, we got into the platform, and had to watch a very lengthy video. We didn’t like the pushy tactics employed in the video, it is almost always a sign of a bad product that needs to be shoved down your throat, otherwise you wouldn’t dream of taking it voluntarily.
We have carefully watched the video, and about 30 minutes into the movie, we got to a part where they demonstrate how to use their signals platform. The platform gives signals for relatively unpopular assets such as Cobalt and Manganese.


However, then comes the claim that this system is never losing. All trades are winners. The system tells you to buy, you push the Buy button, wait for a minute and collect your profit of $600.
C’mon guys, do you really think someone will fall for this? There is absolutely no trading system in the world which delivers 100% winning rate.


Unrealistic claims are another tell-tale sign that this is not an honest offering.
Moreover, let’s not forget that there is no actual proof of this ludicrous claim. It’s just nonsense. Thus, when faced with a snake oil salesman promising you something that’s clearly impossible and a blatant lie, the only thing you can do is – run away!


Having considered the multiple evidences of lies, fake images and unrealistic promises without proof, we have no choice but to issue a strong warning against trying to use the Cobalt Code system. If you really want a Binary Options system that makes money, you should go for established services such as the Virtnext found here.


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