Massive scam review: Social Tech Trader

Social Tech TraderSo here we go for another review of a binary options scam. It is called “Social Tech Trader”. It is presented by Albert and Gilbert Hanson from the Social Trading Tech company.

Albert says that he used to work for a bank, but at 37 he decided to leave and work on his own. Together with his colleagues he created the Social Tech Trader, which is an app for trading binary options.

According to Albert this app is making $920 a day in average to each user and you can be one of them. For free, because they need more users to make the app more profitable.

Social Tech Trader is a scam

In this case we are again facing a very typical binary options scam. Let’s have a look at some of the most obvious proofs.

Fox Buisness

On the Social Tech Trader’s web page you can see a quote supposedly from Fox Business, but we made a research and Fox Business never mentioned this app nor the Social Trading Tech company. So it is fake.

Not free

Dates do not make sense, it should be chronological.
Dates do not make sense, it should be chronological.

Scammers usually stress that their software is free and Albert is no different. He says that he won’t ask you for any payment.

Well, this is a big lie, because in order to use the Social Tech Trader app you will be required to deposit at least $250 of your own money into a trading account.

The app

The AppThe app itself as shown in the video is really a bad joke. Everybody who knows at least some basics about trading binary options must immediately see these alarming facts:

  • the trader does not choose the investment amount when placing a trade
  • no return ratio is shown
  • no strike nor actual price are shown
  • when you open a trade you don’t see the expiry time
  • the trader places an AUD/USD trade which becomes CAD/USD at expiry

So this is pure fiction, the app is not a real trading app, it is a huge fake. Look also at the news stream, news keep jumping up randomly with different dates, absolute nonsense.


A real miracle.
A real miracle, everybody does the screenshot the same date, the same minute.

Another huge fake comes with the trading accounts screenshots. Look at the screenshots from three supposedly different traders. They were all taken within the same minute? Really?

Three different people from different places took screenshots of their accounts in exactly the same minute?

No, of course not, the pictures have been faked.

The truth

The Social Tech Trader scam works like other scams do. People behind it will get paid for every new depositor they refer to their broker. So they desperately need you to deposit money with their broker, everything is focused on this, because it will earn them money. If you fall into their trap, deposit and trade your money with their app, you will lose it.


The amount of binary options scams is incredible. But if you don’t trust anybody who promises you free money but ask for your deposit first, you’ll be safe. And if you want to see how binary options really work and how money can be made in trading, try a free demo.

You will then discover that binary options are a perfectly legit and standard trading instrument. It is just that some people unfortunately try to abuse them.

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16 thoughts on “Massive scam review: Social Tech Trader

  1. This software is placing new traders with random brokers, one of which is Binarybook, this broker is currently under a winding up procedure see referral:, but this doesn’t seem to matter to some of these scam artists. What makes things worse is that a certain reviewer has been made aware of this fact by me, but has chosen to delete my posting on his web site. He doesn’t want to interfere with his referral quota obviously!!!

    1. Hi John, sounds about right! Was interesting to see that the broker in the screenshots was TopOption. I’ve been with them for a while, and they are very good, I wonder if they would actually be part of this, seems unlikely. By the way, do you know anything about Collective2, I came across them when I was looking for info on the so-called people behind this scam? Regards.

      1. I don’t think that Topoption are part of that scam, scammers just edited their page, it is very easy, you can do it through a normal web browser. Concerning Collective2, it is a Forex social trading platform where you can copy other traders. I’ve tried this in the past with eToro, but no success. To find traders profitable in the long run with a good money management was impossible for me. I believe that really profitable traders just do not share their trades with others, because it would just make the market volume rise when they enter trades, which would make their strategy vulnerable, especially from the high frequency trading point of view.

        1. I didn’t think Topoption would be part of it, as you say, there are ways of faking such things! Thank you for your advice on Collective2, I’ll continue trading by myself, then if it goes wrong, I only have myself to blame!

    2. Yes all the usual scammers on youtube are promoting this claiming it’s the bet software they have seen ever. Keith from Option Xpert and Louis from Trusted Binary Reviews. Can’t believe their thousands of subscribers fall for their bullshit every time.

      1. Yep Cedrick, your right on the money. I believe all these reviewers are mates of one another, have you noticed they are all English, with London accents, they all seem to now live in Spain, they all give positive or negative reports on exactly the same product, have similar fantastic results, execute these trades with known scam brokers without hesitation and recommend them as “good brokers” to their subscribers.
        Hey!! I get the feeling that they even have holidays together! maybe even went to the same school, they are all about the same age!
        Think about it… then check out each of their YouTube videos they have recently made with my comments in the back of your mind!
        Maybe the mind can play funny tricks when you come from this perspective!!!! But I honestly believe that their results are total BULL SH*T
        No way can they make thousands of dollars/pounds per day from these pieces of crap!

        1. They are promoting another one now – Tradefusion, which again is (allegedly) the best thing since sliced bread according to them, but has been shown elsewhere to contain the usual bunch of fake identities etc! Bullshit nicely sums it all up, John.

        2. All very true. They all know each other well and are involved in beta testing of these scams.
          Here’s the Louis guy saying it’s the best autotrader he has ever seen. All his followers follow him (and Keith from Option Xpert) like sheep from one scan to the next. I’m sure most of them lose money.

          1. Sorry but I removed the link to the video becuase we don’t want to help the scammers with links pointing to them.

  2. What amazes me about all these so called fantastic software products is that these totally honest (yea right!) reviewers only seem to use them for such a short time, Ive noticed that when a number of their loyal subscribers ask about a product recently reviewed, they often answer “Oh I don’t use that one any more!”
    If the software was so damn good and producing sooooo much money, then why the HELL would anyone stop using it????

  3. All good comments and prespective here. How about a software becoming viral for delivering results? I always expected a flood of real testemonials blowing up on these scamers channels… But…

  4. Thanks guys…..I am very glad I checked out your review. It is as hard to find a good, honest review as it is to find a good way to be in the BO game. Still looking…..but you really helped with your review.

    Thanks again,


  5. Hello guys,

    Cool review, it does have some truth on it, although I would like to correct some things. It seems like you haven’t seen anyone trading on the software (nor the copy buffett) and just wrote this article after looking at the website.

    First, everyone who goes into trading should research about the software/platform that they are using and it is clear that the software it self is completely free for 30 days and it is the same for Copy Buffett. After you have completed your trial and want to continue trading, then these softwares will take 5% off of your profit. So yes, you have to deposit into your broker first, but the software itself does not take any profit from anything for the free trial period, so let’s make that clear.

    Also, you can choose how much you want invest (usually from 25 to 1000) and you can also choose the assets you want to trade or you can set the assets that your auto trader will trade.

    I haven’t found information about the other things you said so I will not talk about those, but I have to admit every binary options site and every software looks dodgy when you look at the website. I still think that some of them are real, but I will not say which because I don’t want you to think I’m advertising. I merely came to correct some stuff 🙂

    1. I’m sorry but you are repeating just some scam marketing BS. Who cares that scams do not take fees through their platforms if they make you lose your deposit of at least $250? So you lose $250, but you have not paid any fees, real win situation…

  6. Social Tech Trader is no doubt a scam. Stole my $350 deposit. I did not make any trades. The software is switched off and logged out. But my account was drained. No record of trades on the broker account. Stay away!!! Massive scam!!

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