This Auto Trader Profit scam review will explain why we're saying it is best to steer clear of this Binary Options signal system. We've taken the liberty to take the Auto Trader Profit presentation video and annotate it a little with our own comments to shed a bit more light on what they're actually doing here.
Disclosure: We might get a commission fee if you sign up through any of our links.
Auto Trader Profit Scam Review Summary
- Annoying Browser Pop-Ups: No
- Fake Scarcity Counter: Yes (doesn't even count down)
- Paid Actor Testimonials: Yes
- Impossible Revenue Gains: Yes
- Comes Across As Authentic: No
- Convincing Proof of Profits: No
- Possibility of Being a Scam: 100%
- Price: Free. Have to sign up with one of their brokers.
The Truth Test
This system is not entirely new. It was first introduced in March of 2015, and they have now re-launched it. We're not sure they should have bothered. Among the initial things we do whenever we evaluate a new system such as the Auto Trader Profit scam is always to examine their site for tell-tale signs of possible dishonesty.
First thing that caught my attention was the allegedly $35 million they made in a mere 5 months by using this system. If they actually did that, their webpage would have looked a great deal better plus they definitely would've been able to create a higher quality production.
Scrolling down the Auto Trader Profit web page brings us to their “Privacy” and “Risk Disclaimer” links on their site that are not active. They clearly are aware that people will look for those links, but they're bargaining on you not clicking on them… stupid oversight and a guaranteed sign of a scam.
Binary Options Trading Explanation
So this guy Dave starts off by implying that trading is a lot like betting on the flip of a coin, and if you know what you're doing, you can make money even if you're right only 50% of the time. This type of reasoning is designed to turn off your common sense and turn you into a gambler. Binary Options Trading is not gambling, you can trade like a gambler, but that's something completely different.
The truth is that with Binary Options Trading, just as with traditional trading, you need to know what's going on in the market in order to make money. You should not enter a trade unless you have a good fundamental reason or technical trading rule that tells you to enter the market.
Dave never bothers to tell us what the win rate is for Auto Trader Profit, so it can literally be anything. They do show trading results, but once again, they do not make it clear what their actual strike rate is. Dave makes it sound like Auto Trader Profit does 60 second trades, and if that is true, it will be very difficult for you to enter the trade fast enough to still catch the signal while it is valid, even if they are 100% accurate at the time the signal appeared.
The only thing we do like about the Auto Trader Profit scam is that it is not a complete auto-trader that will destroy your account overnight. They give you trading signals, and then you have to enter the trade manually. This means that you are at least in control of your own account.
Priming For Big Deposits
They also try to prime you to deposit large amounts into your brokerage account, and to also place large trades, both of which we strongly discourage for newbie traders.
We briefly looked at some of their testimonials, and immediately recognized two actors from the Fiverr.com site. That means that they paid a mere $5 for these people to produce their fake testimonials.
With all of this information at our disposal, I'm not even going to bother looking at the actual software. They lied about only 20 seats being available, they lied about you not needing a credit card, their web links go nowhere and their testimonials are fake.
Don't fall for the Auto Trader Profit Scam!
Remember to clear your cookies before clicking on the links on this page to ensure that everything syncs up and you do not experience any issues with the service. In order to protect you and to comply with regulations, all brokers will ask you for some form of visual identification, such as your driver’s license, as well as the last 4 digits of your credit card, and proof of residency. This is standard practice and you should expect to be asked for this type of documentation. However, you should note that they must allow you to blur or block out your driver’s license number and the first digits of your credit card.