Today’s scam brings a new story to binary options. A guy called Michael Williams is pretending to be a trader that programmed an automated trading system that exploits oil price movements. It is called Secret Oil Millionaires. And yes, you guessed it right, it is just a scam.
Williams say that you can become part of a “secret inner circle” that earns money on the oil. His system is not public but he is offering it to the public, isn’t it strange? First he says that you don’t have to pay anything, he just wants 5 percent of your profits. If you sign up, he “changes his mind” and wants only 1 percent of your profit.
Let’s keep this scam review short. He is doing all this just to make you open a binary options trading account and deposit money, because that will earn him affiliate commissions. Plain and simple. In fact, Michael Williams as described in the video does not even exist, his Secret Oil Millionaires trading system does not exist, so don’t bother opening an account, you would certainly not earn any money.
All those video offers with free trading systems are just scams. Binary options are great, you can make money with them, but trading is risky and you have to learn it first. No system will do it automatically for you free.