Is Prizm Tech a scam? Is Richard Squire who he says he is? Just when you think there couldn't possibly be more binary option scammers out there, something like Prizm Tech crawls through the cracks. Instead of coming up with decent binary options program that actually makes calculated investments, it does the opposite. All is not lost, and by the end of this article you will be able to make up your own mind and pick some great alternatives. This Prizm Tech auto trader is juiced up with a rather cinematic promotional video and a site, which at face value, seems pretty legit. Unfortunately, it's everything but legit, and here are some reasons why.
PrizmTech.co – A Questionable Website
Even though it looks pretty professional from a novice point of view, we recommend that you investigate Prizm Tech a bit deeper together with us. First of all, if you compare the Prizm Tech scam site with reputable sites also based on binary option trading, you'll discover it lacks a lot of crucial detail and credibility. The moment you scratch beneath that shiny surface, things start to fall apart for Prizm Tech In fact, it doesn't really give you anything fundamental to work with. There are no relations between this platform and those that actually work.
This might surprise you, since the whole story of Richard Squire and Prizm Tech is that he is supposedly “the original creator of binary options trading technology” according to the PrizmTech.co website. Given those sort of credentials, you would think that everyone in the binary options industry would know about him and Prizm Tech, right? Right! The only problem with that is I've asked around, and no-one in the industry has heard about him.
If Richard Squire was involved in massive court cases with the “big boy” brokers of binary options as he refers to them, there would definitely have been evidence of it online. None such evidence exists. This type of scam is the worst kind isn't it? Everything about Prizm Tech seems super legit, the software looks great and the presenter is super slick. The whole Prizm Tech scam video presentation centers around creating trust by saying that they know you've fallen for scams before, but this time it's different. Please recognize the Prizm Tech scam for what it is, simply a very sophisticated fake!
Here's something else to consider, according to Richard Squire, he started with his Prizm software back in 2007 when binary options was in its infancy. How is it then that the Prizm Tech website was only registered last year and that it was only revived again in July 2016? If this was an active site, it would have been online all this time.
Hijacked Prizm Tech Domain?
Now here's something else to consider. There is actually a completely different business that owns the PrizmTech.com domain. This business is not related to Prizm Tech or PrizmTech.co at all, in fact, they are into document and technology solutions and registered their domain back in 2012. Unfortunately for them, Richard Squire (if that's even his real name), and the Prizm Tech scam practically hijacked their domain and I won't be surprised if they get into legal trouble because of it.
If they do, then I guess it won't be the first time that Richard Squire lands in hot water, and given his track record, a pattern starts to form, doesn't it? Prizm Tech is a scam, no doubt about it.
Then of course there are the written testimonials from experts who have used the system. They apparently had the courage to leave their names, photos and professional positions. But when you try to find any of these individuals online, they are nowhere to be found. Even though some are supposedly regarded as investment giants for the last 20 years. How do you reconcile that with the facts?
The Cinematic Prizm Tech Video
Without wasting any time, the video starts with a few testimonials on how Richard Squire rescued people from their financial difficulties. Squire is the supposed developer of the Prizm Tech scam and from the get-go that “infomercial” feeling pops up. It's almost like they are selling diet products instead of proper software, but the scam continues nonetheless.
With vague details about how much money these people actually made, and how the Prizm Tech system did it, the presenter goes on and on about how long this software has been in play. According to the video, Richard Squire was legally blocked from releasing his Prizm software in 2007.
If this is in fact true then why has the details of this case been kept away from the public eye till now? Legal battles like Richard Squire claims his Prizm Tech software was embroiled in normally drags on for months if not years. On top of that, there is no evidence of an initial launch of the Prizm Tech software?
What About the API Key Story?
It doesn't end there, because Squire brings in something new, namely an API key. I must admit, that's a clever little trick to confuse people. Apparently an API key is the only way investors can log in and make trades and properly sync up accounts to other brokers. The question is, why is it necessary in the first place? The connection between the broker and the trading software is not dependent on copying an API key from a website that is not even SSL enabled!
The simple truth is that it's not necessary at all, it's just made up, the brokers do not need an API key like that and neither do you! Accounts are synched up using email addresses, and you probably know that already if you have signed up for an auto-trader before. Email addresses are unique, and therefore it provides an easy to use and easy to remember unique and secure method of identifying an account and linking up the software. Even if an API key was required for Prizm Tech, how would it influence the accuracy of a binary options trading software? Think about it for a minute. How would an API key influence the outcome of a trade? Got nothing? Yeah, me neither! It's bogus and so is Prizm Tech!
Fake Promises From A Fake Individual
Then of course there is the question of Richard Squire and his actual existence. You are told he holds high acclaim in the trading industry and he has released the father of all binary trading options software. But just like the other “experts” who used it, Squire is nowhere to be found. Oh no wait, you can find him on the Prizm Tech website.
Nothing screams Prizm Tech SCAM quite like over-ambitious promises from a person nobody knows. We have all seen it before. Let's think this through again, the whole Prizm Tech software offer is based on the integrity of the person of Richard Squire. Everything hinges on that, but there is no proof of his existence. No LinkedIn profile, no Facebook group, no social media presence besides recent promotions related to the Prizm Tech scam software.
To make matters worse, the Prizm Tech scam platform supposedly offers multiple broker account sign-ups. For the most part legitimate platforms never touch multiple accounts, much less offer them. This is because it's not something traders really do and it typically requires huge investments with funding required for each account. If you consider that this software was created for normal individuals who just want to make some extra money, why on earth do they need multiple broker accounts? Anyway, by now I hope you get the picture, Prizm Tech is not what it seems.
Don't Fall Victim To The Prizm Tech Scam
Do yourself a favor and research the elements of binary options trading. It's serious business where nothing can be guaranteed, but money can be made. With the right guidance and proper experience you can definitely generate an extra income, but it's not going to make your rich overnight with a $250 investment.
None of the testimonials add up, the endorsements are made by people who don't exist, the developer himself is a complete mystery, and the software is as vague as the cheap infomercials on television. So, before you invest any money ask yourself one question. Will you trust the devil with your soul?
Are There Better Alternatives?
Yes, and you are more than welcome to read through our reviews and articles and make up your own mind. If you're interested in trading binary options, there is more than one choice available for you, but we have tried our best to pick only the top performing apps for you. Prizm Tech is just not worth it, there are better alternatives!