This review is about a new binary options scam called The Spread. It is presented by Williams Sellars on the Only100 website.
What is it about
Like other scam The Spread (Only 100) is supposed to be a binary options trading system that should make you money completely on autopilot. In this case Sellars promises at least $1.300+ per day. He claims that his students are making this kind of money and more.
The software is called The Spread and supposedly is taking advantage of spreads, but it is a complete nonsense.
Why is The Spread a scam
First of all you will see some discrepancies with dates in the sales video. Sellars is showing a bank account statement saying that it is from this morning, you can see the date August 15, 2015. But then he shows a table with trading results of his students saying it is from yesterday, although you can clearly see the date September 3, 2015. So it makes no sense.
But the biggest lie is about the spread. A spread is the difference between the ask and bid price. Those who trade spot Forex know spreads very well. And meanwhile it is true that brokers make money from spreads, there are no spreads on binary options.
So Sellars and his The Spread trading system cannot make money on something that does not exist. Therefore his story is a big lie.
The reality behind The Spread is the same as with every other scam out there. Sellars is going to be paid for every new trader that he can refer to his broker (currently Titan Trade). He is just an affiliate the makes money from bringing new clients to a broker. This is why he made up his story and is claiming that his system is free. Of course it is free, because it is worth nothing, it will just lose you money.
Yes, your money, because in order to use The Spread you will have to open a binary options account and deposit at least $250. So if you trade with them, you will then lose your $250 or more.
We repeat it again and again, you won’t make money with these free automated systems, they are just scams. The only way to make money on binary options is hard work: learning, testing and building your own trading strategy.