GPS Trader App is another finely made binary options software scam that promises you riches but leaves you poorer. Depending on the location from where you access the gpstrader.co website, your country is shown and the headline grabbing “$850 per hour” on Auto pilot. The video on the homepage claims that a risk free trading strategy is used which will make you $20,000 a day. Uncover this slick scam with us through our unbiased GPS Trader App Review….
Interestingly, there is no such thing as a risk free strategy that will make you rich (or the world would have had a lot more millionaires). GPS Trader binary options app is yet another scam that promises the gullible, riches to make money overnight.
Making use of geo-location, the website looks fairly sophisticated as it picks out the capital city and claims that members are making $12,000 a day in your country. For those desperate, this trick can be easy to fall for. GPD Trader claims to use satellites and offers more nonsense, all in hopes to fool you more.
As we have seen with past scams, GPS Trader uses fake Facebook testimonials on its page. Clicking on them does nothing and with a little bit of HTML coding, you can make your own testimonials as well.
GPS Trader App Review – Plenty of False Claims
The GPS Trader binary options scam claims to:
- Automatically seek out winning trades with global positioning precision
- The average user makes at least $850 per hour in pure profits
- Instant withdrawals direct to your bank
- New fail-safe mechanisms making it impossible for anyone to make a mistake
- Satellite security measures implemented to eliminate all risks
First of all, there is no valid explanation given on how the trading is done. Using satellites for trading is probably a first even in the world of binary options scams.
Instant withdrawals direct to your bank: This is probably the biggest lie. IvoryOption.com makes it easy to deposit money but when you request for a withdrawal, you are met with compliance requirements such as sending a copy of your photo ID, proof and address and just about any other reason the broker can come up with it to slow down your withdrawal.
$850 per hour: To get $850 per hour, you would need to make 750% profits if your trades expire in the money. No binary options broker offers such huge payouts. If you were to trade the 60 second or short term expiries, you would need to trade with a minimum of $100 to make 60% returns. Approximately, you need to make 14 or 15 winning trades to make $850, a feat that is simply not possible unless you trade with $400 and more.
Risk free trading is a myth! But if you believe in such a trading system, then you are probably right to get scammed.
GPS Trader App Review – Founded by Richard Heffner
The character on GPS trader goes by the name of Richard Heffner who makes tall claims including boasting of his bank account. As with most scams, there are no verifiable sources and neither is there any information on a Richard Heffner in this day and age of social media. According to the fictional Mr. Heffner, he has made 29 millionaires in the last few months using the GPS trader binary options auto trading software.
GPS Trader App Review – Trading with Satellites
On the topic of how the binary options signals are generated, GPS trader makes use of a rather stupid reason that it pulls data off satellites. For the trained eye it is a rather dead giveaway that the marketing behind GPS trader is a rather quick and dirty attempt to make the gullible to part with money rather quickly. Perhaps we are missing something here… but how the heck you track financial data with a Satellite? This sales hook is rather off this planet… really!
GPS Trader App Review – Member’s Area
Once you sign up with your name and email address you are prompted to enter your phone number and the website automatically signs you up to IvoryOption.com. From here on be prepared for a lot of upselling from Mr. Heffner who tries to use every trick in the book to convince you to deposit your funds.
GPS Trader App Review – Website Information
A quick check on gps trader shows that the website was set up as early as 26th April 2016 and as with almost every other binary options scam, the details of Mr. Heffner are definitely hidden. You have to ask this simple question… a project this big and the website this new? Sound fishy enough?
In conclusion, GPS Trader is another binary options scam that makes tall and unverified and literally impossible gains to achieve.
GPS Trader App Review – How Binary Scam Works!
If you have not figured out how Binary Options scam work, then please read this. The scammers will always come up with a sales story which will have a nice video that is rather quite persuasive because it touches your inner desires for instant success. Your subconscious mind wants to believe that this works because that’s what you desire. You have been working hard without success so something like this that comes along surely appeals to you. In the home page, the goal of the video is to convince you that you have found the holy grail of making money online through risk free trading. All you need to do to go to the next step is to enter your name and email.
Once you have entered your email, you will proceed to the next step which is supposedly an exclusive member’s area where another video awaits you. This time…the purpose of this video is to convince you to deposit only $250 as your trading capital so that you can access this “wonderful” trading software for FREE. Yep – FREE! What a deal!
You may even think that making a deposit just to find out what the software is about without using it to trade is safe…WRONG!
Once you deposit, you will not be seeing the money anytime soon. Your deposit becomes a permanent deposit because no matter what, trade or don’t trade, the broker will not allow you to withdraw.
And if you do trade, it’s gone as well because the so-called “Holy Grail of Trading” software is designed to lose money for you. That’s how it works and the brokers will have a team of aggressive and highly motivated telephone sales team to call you to make more deposit. If you make more deposit, your money will be gone as well.
So please, whatever the software might be… it’s NOT going to work.
If you are serious in building and growing your portfolio steadily and safely without fear of getting scammed, then we highly recommend that you look at a legit MT4 automated trading system that we have tested extensively. Click here to learn more….
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