Today we are going to have a look at a brand new binary options scam called Secret Millionaire Society. We have to admit that in this one a lot of effort has been put in, although you can still clearly see that it is just big lie.
Quincy, or Q, who is supposed to be the president of the Secret Millionaire Society, is presenting you a story that make us really laugh, but may be attractive for somebody who has never traded. That is why we are going to pinpoint some elements that prove that it is just a big lie.
Secret Millionaire Society
Q says in the video that the Society controls everything, that it owns the police, that it manipulates the binary options market. Well, if somebody says that, not only that he publicly admits criminal behaviour, but he also shows that he knows nothing about trading. Binary options prices are driven by their underlying assets, so you cannot manipulate the binary options market. It is like saying you manipulate the betting industry. You cannot do that, you can manipulate games, which are their underlying assets, but you cannot manipulate bets.
Q also says that binary options are the only marketplace where you can make millions overnight. It is another nonsense, much bigger volumes are traded on spot Forex, commodities and futures.
Of course there is absolutely nothing secret to this story, this system is being promoted by spam, it will always be open, because it is a scam, nothing else. Try to fill in a fake email address and you will see that the video will still say that your identity and email were verified, because it just a video, there are no real processes behind it.
The trading system that is supposed to make you big bucks within the Secret Millionaire Society is called the Code. In the video, Q plays scenes with paid actors that should make you believe that it can make you hundreds of dollars within a minute. But the video is really one of the poorest so called proofs that we have ever seen.
You just need to know how binary options trading work to understand. First you have to open a trading account and deposit money. Then the broker has to verify your identity, you have to scan documents and send them to the broker. Then you can trade. Then you can withdraw your profits that will be transferred back to your bank account. You see? What is shown in the video is IMPOSSIBLE. Forget all the steps we just mentioned and think of this: The Code allegedly traded their accounts to profits, but how could be their profits instantly transferred from binary options accounts to their bank accounts so that they could withdraw them immediately? We say it again, it is impossible. Money transfers from brokers to bank account usually take a few days, several hours is the absolute minimum. So it is a fiction, these are paid actors and the movie is a big scam.
When you watch the video, you will hear things like: “Guaranteed $1000 in your first 60 seconds” or “Guaranteed $10,000 in your first 2 days… for FREE.”
Really? Of course not. They have their Terms and conditions at the bottom of the page, because they are afraid of criminal prosecution, and you can read inside: “THERE IS NO GUARANTEE THAT YOU WILL EARN ANY MONEY USING THE TECHNIQUES AND IDEAS IN THESE MATERIALS.”
The purpose of this fictitious Secret Millionaire Society is of course to make you open a binary options trading account with their broker and deposit at least $250, they say it. This way they will earn affiliate commissions and what happens next to your money doesn’t bother them at all. They will probably let a software trade your account to zero and you will lose everything. So stay away from this scam. The only way to make money with binary options is to learn trading and do it by yourself. Nobody will give you free money, this is the reality.