The AlgoMaster scam exposed. Stay away!

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AlgoMaster binary options scam - featured image

Today as part of our continued efforts to save as many traders as possible from falling to binary options scams, we are publishing the results of our investigation on the AlgoMaster software.

This is apparently the newest binary options scam, posing as a legit offer. Armed with a sales video which looks polished and professional, this system turns out to be just an online scam that promises you big gains but delivers absolutely nothing.

We have closely examined the Algo Master website and video to verify whether it is honest or fake. The site itself is full of promises of high gains, but no proof is given, except fake bank account statement which we will talk about in a minute.

The guy presented in the video as the AlgoMaster CEO, James Torn, is likely an actor, as there’s no mention of him anywhere on the internet. Good luck trying to find him in social media such as Facebook or Linkedin. He’s simply not there.


AlgoMaster binary scam - fake actor


This is of course highly suspicious, as there’s no way a CEO of such a supposedly successful company, has never been mentioned anywhere and does not have any sort of online identity.


The reason is simple – if someone doesn’t exist, if it is just a name and character someone made up and asked an actor to play – then you will not find that character anywhere.


Trying to look up a US company named AlgoMaster, located in Malibu, CA also yields no results at all, simply because such company doesn’t exist.


But let’s continue looking into the video. The video is interesting because it is the online place where any proof is provided within the AlgoMaster website.


A user named Amanda is seen in the video, praising the software and presenting her bank account statement. In the statement you can see a balance of over $185K, which Amanda claims is the profits she made with the AlgoMaster system.


AlgoMaster fake statement


But here’s the thing…


The date on the account statement is November 20, 2015. This is almost an entire year before the AlgoMaster was even launched or started accepting any beta testers.


Moreover, in order for Amanda to be able to accumulate such profits, she have had to trade for many months, which is of course impossible since the AlgoMaster didn’t exist back then.


In other words, this bank statement is clearly a fake, and with it falls the proof of profitability that AlgoMaster is claiming.


We’ve also noticed that the AlgoMaster claims to have 1,341 members who have made $181,467,329 combined.


However, at another section of the website, they claim that they have 300 users who are beta testers. In other words, either one of these numbers is made-up or – more likely – both of them!


AlgoMaster made up numbers


Having considered all the evidence, and seeing the fake personas and statement in the video and website, we have no choice but to issue a strong warning against trying to use the Algo Master system.


If you’re looking for a Binary Options system that makes money, check out the more established services such as the Centument 2.0 found here.


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