I have been waiting to do this Social Trader scam review and at last got to sit down and type something up about this dumb system! I've received numerous emails about this software. It isn't effective explaining to everyone individually by e-mail why this system is not to be trusted, so here is a short Social Trader review to share with you what I've found. It has a lot of the usual indicators of a scam, with the typical impossible revenue gains, bogus scarcity and a countdown timer that resets. While this trader possibly sounds like a great auto-trader at first, and the video might be very convincing, we urge you to consider the facts before you reach your final decision.
Unlike scam sites that don't disclose this, we would like to clear something up. Irrespective of which link or site you use to sign up for this service, someone might receive a commission fee. That includes links on this site. Our sign up links can be trusted, because they are behind SSL HTTPS protection, so you can be sure of the origin.
Social Trader Review Summary
Annoying Browser Pop-Ups: Yes
Fake Scarcity Counter: Yes
Paid Actor Testimonials: Yes
Impossible Revenue Gains: Yes
Comes Across As Authentic: No
Convincing Proof of Profits: No
Probability of Being a Scam: 99%
Price: Free. Have to sign up with one of their brokers.
Auto-trading Available: Yes, full auto-trading
Social Trader Scam Red Flags
There are a whole number of things that we've found disturbing about this system and we want you to be aware of each and every one of them before you make a decision to sign up for this system.
The very first thing you must know is that Jonathan Cooper is definitely not the CEO. As you will see from the image just below this one, it was taken directly from a stock photography site.
Here's the exact same photo they used, but as you can see, it's from the stock photography site Shutterstock.com, so it's just a generic image.
They have some totally crazy claims on the Social Trader site! The whole basis of this system is that they have millions of social trading experts that you can pick from to copy their trades. But just think about that for a few minutes. They're claiming to have over 8.5 million trading experts!!! That is such a ludicrous claim and makes no sense at all! If they claimed to have 50 trading experts, or even a hundred or two, that would be difficult to achieve, but 8.5 million trading experts? That is crazy!!!
Remember that they're not just claiming that they have over 8 million traders, they are claiming to have that many trading experts. Do you really believe that it is possible that there could be that many binary options trading experts? I can tell you without any doubt that there is NO WAY that there are that many binary options trading experts. In the whole of the US, there are a total of 14 million people that have used an online trading system in the last year, so how can there be 8 million experts?
On top of all that, they claim that they have access to all of those experts and that they are all tapped into a system where you can copy their trades. C'mon people, that's just such a dumb thing for them to say that you really cannot take any of their claims seriously!
Here is yet another part of their crazy scam, they claim that this trading account has a balance of close to $2 million dollars! Even if you have never traded with binary options before, a figure like that should set off the alarm bells with you. Why would anyone leave that amount of money in a trading account when you can only put down a thousand or two at most per trade? It simply does not make any sense, and the reason it doesn't make sense, is because it is a scam. These people are simply out to trick greedy people that see a million dollars in a trading account and then actually believe that making $1,883,004.72 is possible with a system like this. Don't fall for it!!!
I've kept the best for last! Below you will see two screen captures where you will see that they get caught out on a very easy to spot error. When you're watching their video, watch out for a guy called “David Johnson”. He supposedly gives us updates on his trading account, which is all good and well, except that there is no trading on weekends between a Saturday and Sunday!!!
Here you will see that he claims to have made $3,000 between his previous login on Saturday, and Sunday. This would make the Social Trader software truly miraculous since there is no trading activity during that time at all!!! They are clearly out to scam people that would not know this.
On top of all that, I clearly recognized this guy shown below in their video as a Fiverr.com actor. For those of you that haven't read a lot of my articles yet, Fiverr.com is a place where you can hire people to do stuff for you and you only pay $5, hence the name.
Here you see the same guy telling us how much money he made with this bogus system, but I can tell you exactly how much money he made! He made $5. That's all the money he made from this because anyone can hire him to say exactly what you want for a mere $5!
Social Trader Scam Conclusion
I realize that you came to read this review hoping that you had found a system that will make you some extra cash. This is not the system that is going to do that for you. There are more than just a few other systems that we have reviewed on this site that is definitely better than this! You can do this, you can make money with Binary Options trading, just not with this bogus system. Please take a look at our best binary options systems and their reviews and stay away from the Social Trader scam system.