Today we are going to review a brand new binary options scam called Verified Trader signed by Simon Roper and allegedly verified by VeriTrades.net.
New scams keep coming every day, but this one is in fact a double scam, because it claims to be verified by an independent body. But is just a big fake, we are going to prove it.
Verified Trader system
First let’s have a look at the system. It should be a binary options trading system that will trade your account automatically with a 90+ percent winning ratio. And as a beta tester you get it for free. Sounds good, right? Well, scams always do.
Let’s get straight to the first proof of scam. Roper shows in his video trades from one day after depositing $250 on a new account. The system makes a $2450 profit, but the balance on his account is only $2450 at the end of the day.
Something is wrong here, because $250 (deposit) + $2450 (profits) = $2700. So the balance after that day of trading should be $2700. So this is a first proof that the video is faked.
But this is not really a surprise, because we often see that binary options scammers know nothing about trading, so they always make mistakes of this kind.
This fact is supported by Roper saying that you can trade binary options “7 days a week”. No, you can’t, during weekends trading is closed, although there might be some options to be traded with a long expiry, but you cannot close trades on weekends.
Another illogical claim is that the Verified Trader system can make you $600 to $4000 a day. Why this limit? There is no reason. You can open binary options trades of several thousand dollars, so a $4000 limit makes absolutely no sense.
To support the trading results Simon Roper says that they have been verified by an independent body called VeriTrades. But just look at their page, no real contact information, photos of the management are public photos used across the internet, so it is a fake company that in fact does not exist.
In reality VeriTrades has been created by the same people that created Verified Trader, just look at the domain registration, both were registered at exactly the same time at the beginning of 2015! Another proof of scam.
The Verified Trader system is a big binary options scam supported by another scam called VeriTrades. It is just a marketing effort to bring new traders to a broker, because affiliate commissions are what is Simon Roper after. If you let trade his system your account, you will lose your money.
The only way to make money with binary options is to learn to trade and trade yourself, nobody will trade profitably your account for free, there is no free money. Try them on a free demo and see for yourself.