There's no doubt in our minds that the Secret Algo Bot is a scam. I'm going to use this post to tell you how to identify fake systems like the Secret Algo Bot scam, as well as other similar binary options trading signal scams. These type of fake signal services all follow exactly the same recipe, and the Secret Algo Bot scam is a very typical example.
Disclosure: We might get a commission fee if you sign up through any of our links.
For those of you that are impatient, here's a quick run-down of the most important parts of the review findings.
Secret Algo Bot Scam Review Summary
- Annoying Browser Pop-Ups: No
- Fake Scarcity Counter: No
- Paid Actor Testimonials: No
- 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.
Step 1: Check The Testimonial Images
One of the first things we look at when assessing if a new binary options signal service is a scam or not, is to look at the images provided for their testimonials, CEO or traders. In the case of the Secret Algo Bot app, they're definitely not very sophisticated, I'm probably spending more time writing this Secret Algo Bot review than they did designing their whole site! The Secret Algo Bot scam shows a couple of random people at the bottom of their site, with no real explanation of who they are. They're probably implying that they are people that were dumb enough to provide a Secret Algo Bot testimonial.
This is actually embarrassing, because they even have a “John Doe” as the name of this guy! What we normally do is to go through the images one-by-one, and checking if they exist anywhere else on the web. Google is great for doing this! So, this is what I found for the first image of “Robert Smith”:
The image of this guy appears 101 times on Google! There is no way he really is “Robert Smith” that made $3,525 in profits using their system. The same goes for the others, and usually when one is fake, the others are too.
Step 2: Check The Site For Glaringly Obvious Spelling Mistakes and Links
Here are a couple of real doozies from their video. This first one reads “i am giving my secret system to a very small pepole”, what the heck is a “small pepole”?
Here's another one. This one says “this is the true”, they were probably going for “this is the truth” – which it isn't!
Step 3: Check For Crazy Revenue Gains and No Real Proof
The scammy binary options signal services all claim that you can make millions in a matter of days (the more modest ones will tell you it might take a couple of months), and all you need to do is to give them your email address and they will give you the world! In the case of the Secret Algo Bot, they did exactly this by showing us a bunch of fake bank statements reflecting millions of dollars available in the accounts. Here's just one example:
There is absolutely nothing about the Secret Algo Bot website that casts any doubt on our assessment that it's a fake. The three simple steps we showed you above is easy to repeat and a quick way to identify fake binary options signal services. We didn't even need to go into details about their trading methods, or scrutinize their trading examples since they didn't even bother to provide proof of their trading performance.
Please just stay away, and do not fall for this scam!