Today’s review is about a binary options scam called “7 Figure Challenge”, it is presented by Martin Taylor.
Taylor says that he has an automated binary options trading software that can make you a millionaire in just 27 days. Should he fail, Taylor says he’ll pay you $10,000 from his pocket.
7 Figure Challenge scam
The 7 Figure Challenge is in fact just a rebranded scam that we’ve already seen earlier this year, it was called the 7 Figure Club. Martin Taylor is a known scammer, although it is very probable that it is not his real name.
His web site is full of lies. You will never get any money from him, not at the beginning, not even at the end when you’ll see your trading account wiped out. All the bank and trading account statements are faked. Security seals logo are abused, 7 Figure Challenge is certainly not a BBB verified business, we checked it.
So what is the 7 figure Challenge really about? It is very simple, it is the typical binary options scam scheme. Taylor has an affiliate contract with a broker (Big Option at this time). His broker will pay him for every new trader that opens an account and deposit money, $250 at least.
So the system is not free, you will have to deposit your own money. When you do that, Taylor will get paid his commission. Then his crappy software will trade your account to zero, you will lose your deposit. End of story.
These binary options scams are all the same, they promise you free money, you just have to deposit. But in fact you’ll end up by losing your deposit. So don’t fall into their traps.
In reality you can make money on binary options, but you first need to learn binary options and build a profitable strategy that you will trade yourself.