Binary Options Place team
We’ve seen a lot of binary options scams lately, but this one was so outrageous that it succeeded annoying us tremendously, as we deepened our investigation.
It started with a flood of complaints from our followers regarding the new Zero Loss Formula binary trade signals.
Then we looked into their site, which initially raised some nervous giggles in our office, due to the software’s “developer” resembling Dr. Evil from Austin Powers:
The "Dr. Evils" of binary options scams - would you invest your money with them?
This software promises to produce for you 1 million dollars per month by using either its manual binary trading signals, or its automated trading robot. You can imagine that this kind of outrageous promise is nothing but a lie, but this binary options scam is much worse than that.
There are two main functions to the software, the automated binary strategy and the manual trading signals. The robot executes signals automatically onto your account, which is most suitable for newbie traders or those who lack the time to execute the signals manually.
The scammers from No Loss Formula want to make us believe that we can just let the robot work for us on auto-pilot, and each and every month we will be 1 million dollars richer. As always, when something sounds too good to be true – it is just that.
Taken from their website: 1 million dollars per month (click the image to go to their website)
We were equally shocked by their second outrageous claim - that they had not experienced a loss for years. That’s right, not a single trade losing for several years, since they started testing the system. To prove their ludicrous claim, they present their supposed trading account, showing trade after trade, all winning.
Let’s explain why this claim is false and how they are selling an impossible illusion: the options market is a zero-sum game where one party wins and the other party loses. For simplicity sake, you can imagine this as a game between two children or adults. Some of the turns are won by one person, other turns are won by the second person.
Now suppose there was a game where one of the parties would always mean, no matter what? Do you know anyone who would be willing to play and bet such a game, where he knows he is going to lose to the other party? Of course not, as it is obvious that there’s no chance to win.
Indeed, people would play if the odds are low, for example they would buy lottery tickets. But they would not tend to play if the odds to win are ZERO. That’s why nobody would “play” with someone who owns a software such as the “No Loss Formula” – they would have no party to trade options against!
Back to the Binary Options world – even if it were possible to win all the time, no broker would allow one players to win all the time for a long period. Therefore, it is impossible to operate a binary options strategy such as the No Loss Formula.
Another ludicrous claim refers to the expected profits per trade. The “No Loss” salesmen promises you that you will win between $200 to $800 per trade. This is another senseless fantasy, and we’ll explain why.
The minimum amount to invest in order to use the system is $250. Therefore you would have two options: Either you risk your entire deposit on a single trade, which is known as the quickest way to lose, or you’d need to deposit thousands of dollars, which is a requirement they keep quiet about.
Therefore, there’s no way to make between $200 to $800 per trade unless you deposit very large sums of money into your brokerage account, which is not what they claim you need to do.
All of this bogous presentation is backed by fake testimonials by actors whom we already recognize from previous scams you will find here.
In conclusion, this software is being presented as the “holy grail” of binary trading strategies, with promises to get rich quick. But in fact it is just a presentation full of lies and false advertising. You are advised to stay away, unless you wish to lose substantial amounts of money.