Although they don’t really tell it, Wisdom of the Crowds is supposed to be a social trading app for binary options. It means that you can follow other traders and copy their trades automatically on your own account.
It is based on the premise that a crowd is wiser than individuals, but it is funny because the Wisdom of the Crowds can let you copy individuals, trading decisions are not based on crowd thinking.
This software allegedly can make you hundreds of dollars per day, $17,000 per month and turn $250 into $1,000 overnight. It should have a 83.8% accuracy.
Why is Wisdom of the Crowds a scam
We already mentioned it, scammers obviously put a lot of effort in thinking of a new fairy tale to convince people, but this concept is flawed. In social trading you copy individuals, not masses, so their whole story is completely bogus. But let’s see some tangible proofs.
Take a look at the picture on the right, here you have two examples of fake testimonials.
But unfortunately they are fake too. You can do a search on the relevant media web sites, or you can have a look at the picture on the right, we made the research and took some screenshots.
So how does Wisdom of the Crowds really work, what is the truth behind it? Well, people who created it are affiliated with the non-regulated binary options broker Titan Trade and will get paid for every new depositor they refer to this broker.
So the purpose of their fake story is just to make you do exactly this. But if you deposit and trade your money with the Wisdom of the Crowds software, you will lose it. Period.
Wisdom of the Crowds is a very simple scam that is using binary options to scam you.
But it is not the fault of binary options, they are a perfectly legit trading instrument used to make real money. However in order to achieve that, you first have to learn and build a sound strategy on a demo account.
So don’t count on anybody making you free money, you have to learn and trade yourself.