The Phoenix Trading app by William Johnston of the Marshall-Sherman Group is nothing but a phony trading scam that has tried to emulate the success of the Dow Jones Focus Group system. They claim that the phony Phoenix Trading app has been in development for years “in conjunction with leading analysts from the most successful firms.” And yet, Whois.net tells us that their site has only been in existence since 9 December 2015, oops! We'll dig into this some more in this review, read on, it's going to be fun!
Put your hand up if you also first ended up at this website when you searched for Phoenix Trading? What? No-one, just me? C'mon, I'm sure someone else made the same mistake. I must say, I was thoroughly confused for a second or so, until I found the ‘true' fake Phoenix Trading scam. Just for clarity's sake, the image below is from the wrong website. It's included here purely for some comic relief! The PhoenixTrading.com site actually appears to have some great stationary and stuff, but that's not what we're looking for here.
Disclosure: We might get a commission fee if you sign up through any of our links.
So here's the whole Phoenix Trading app bogus marketing video, I'm not sure why it shows up so small, maybe it's trying to hide or something. Note the completely fake warning that says “this video invitation expires in 2 minutes”, yeah, sure! It's been there for days already.
Phoenix Trading App Scam Review Summary
- Annoying Browser Pop-Ups: No
- Fake Scarcity Counter: Yes
- Paid Actor Testimonials: No
- Impossible Revenue Gains: No
- Comes Across As Authentic: Yes
- Convincing Proof of Profits: No
- Possibility of Being a Scam: 98.3%
- Price: Free.
- Available In: Australia, Canada, Ireland, New Zealand, South Africa, United Kingdom, United States
Phoenix Trading App is a Phony Scam!
Let's start with some good news, the presenter of the Phoenix Trading app scam tells us that their software will not make us millionaires overnight, that's good to hear. At least they're honest about that, because you should not be expecting to make ANY money with this Binary Options trading system.
Here's the bad news. If you have watched a bit of their video, and if you have seen the Down Jones Focus Group software that I mentioned earlier, you will immediately have picked up that these Phoenix Trading app guys are trying to copy their success.
I can understand if companies use the same trading platform interface, because at the end of the day it is all about the algorithms behind it. If you've ever used MT4 for trading, you will know that the interface always stays the same, you get to attach different indicators to it that run off different algorithms, but the trading platform stays the same. The same principle applies to Binary Options trading systems that use the same visual trading interface. However, when another company tries to simply copy a successful and trusted Binary Options trading system's whole approach, then I immediately start to smell something fishy.
Whenever you try to leave the page, you get this guy that shows up. Doesn't he look constipated to you? I think he does. 🙂
We are told by the voice actor that Marshall-Sherman Group has a client that has developed a program that they want you to test out with YOUR money. Yep, you read that right. They want you to fund your trading account with your own money, and then test their Phoenix Trading app with your own money. But not to worry, they say, since it “actually makes money for its users.”
Wow, that's a really wild concept (yep, that's sarcasm you detected). Binary Options trading software that actually makes money, they're saying it like it's something special. Aren't all of these Binary Options trading systems supposed to make us money??? We're also told that they only have spots open for 50 beta testers, no way that's true.
There's just too many scammy things about this software that raises a lot of red flags. For instance, they insist that they will only accept anyone with NO experience in trading Binary Options. That is so dangerous, why not first make sure that people understand Binary Options?
Why is the Phoenix Trading app preying on complete newbie traders like that? Please educate yourself about Binary Options trading before signing up for anything. You will see that virtually every article we write specifically state at the bottom of the article that if you have no experience in trading Binary Options, that it is best to first sign up for a completely free demo account and gain some experience – see below.
The BinaryOptionsWatchdog has also labeled Phoenix Trading a scam, and that says a lot.
The fact that they want you to be ignorant before you sign up for their software should make you think.
Phoenix Trading App Review Conclusion
If you’re completely new to Binary Options trading, it might be a good idea for you to first familiarize yourself with how Binary Options work by signing up for a completely free demo account. TradeThunder is an excellent broker to start with, since they offer a completely free demo account! They also have very low starting balance requirements, so you could literally start trading Binary Options with as little as $20 in your account! Never trade with money that you cannot afford to lose.