Prizm Tech Scam Review

Prizm Tech Scam Review. Binary Scam Watch Monitor has just concluded an investigation into the origins and credentials of Prizm Tech. Prizm Tech is the newest binary options auto trading scam to hit the market and flood the inboxes of thousands of traders. The creators of this malicious scam are past offenders and have previously scammed and stolen hundreds of thousands of dollars from new traders, by selling them on fake promises and shoddy software. Furthermore, we have been alerted that several traders have had their personal information stolen shortly after depositing and turning in their ID documents for verification. It seems that Prizm Tech is not simply stealing money from your pocket, they are attempting to steal your identity as well. This needs to be stopped ASAP. Another malicious scam that needs to be killed is Modern Profit 

Official Website: http://prizmtech.co/lp.php

Prizm Tech Scam

2/5

RATING

unregulated-icon

UNREGULATED

$250

MINIMUM DEPOSIT

DESCRIPTION: Prizm Tech software is a fake binary options auto trader, If you have been scammed by Prizm Tech, please contact us immediately for advice on how to reclaim your money…

SOFTWARE INFORMATION
Scam
Yes
Min Deposit
$250
Fake Spokesman
Richard Squire
Fake Claims
Yes

 

Is Prizm Tech a Scam?

We were first informed of the Prizm Tech scam when a reader of ours dropped us an email detailing their experience. Our reader had just recently lost their money with the Fast Cash Club scam and was in the process of disputing their investment with their credit card, when they began receiving spam email from Prizm Tech. Against his better judgement, he clicked on the site and was impressed with the promotional video and proceeded to enter his name and email address on the side of the page. Within minutes an unregulated broker called him and began conniving him into depositing his money. One of the manipulations tactics employed by the Prizm Tech is that they claim they are the salvation for all traders who have been scammed in the past. Against his better judgement, he deposited money into his account and waited to see if the promises were real. As quickly as it started, his money was traded away and he was once again facing the realization that he had been scammed. This review is dedicated to him and the others like him who have been scammed not once, but multiple times.

Who is Richard Squire and what is his connection to Prizm Tech?

Prizm-Scam-Review

Prizm Tech Review

The most important thing to keep in mind about Richard Squire is that he does not exist. All other information the website tells you and all other information we explain in this review is really not that important. The entirety of this scam is based off the premise that a man named Richard Squire built the Prizm Tech software, but this is false, because Richard Squire does not exist. You might be wondering how we are so sure that Richard Squire does not exist. The answer to that is pretty simple, they gave themselves away! Squire weaves a compelling story of how he was sued by a huge corporation who claimed that he had stolen their own source code and tried to sell it under the Prizm Tech name. If such is true, why is there no legal record of such a lawsuit? Not only is there no legal record, there is no record of any person by the name of Richard Squire owning anything called Prizm Tech. We double checked to make sure the names hadn’t been altered, and once again turned up nothing. There is no legal record of the software, the supposed owner, nor the lawsuit. It is all a manufactured lie.

Understanding that Richard Squire is a fictitious character is the most pivotal point we need to drive home here. If he isn’t real, then everything out of his mouth is a lie and can’t be trusted. It is obvious to us that the man claiming to be him is an actor hired by an unregulated and deceptive broker. This is part of a long string of recent broker scams that have been flooding the industry. The worst part of this is that it’s virtually impossible to make a comprehensive list of bad brokers. They open for business one day and disappear the next. The binary options industry is one of the least regulated industries in the financial sector, making it easy to slip seamlessly in and out of business without much legal reckoning. This makes it so very important that you never register an account or deposit money into a broker unless they are fully regulated!

Are all other auto traders really just failed attempts at stealing the Prizm Tech source code?

Please note that nowhere on the website or video is any proof given that other auto traders were trying to steal the secret source code. This is simply the claim of a liar and fraud who is being propped up by the broker scam ring. Firstly, there is no “secret source code” and certainly, no “API-key” that makes it work. This is such a load of hogwash. It is inconceivable to us that these scam artists think they can just throw around complicated words and ideas and pull the wool right over the eyes of good and decent people. The reason most auto traders fail is not because they don’t have an “API-key”. They fail because auto trading is next to impossible to get right. Even when it does take winning trades, the results can’t be guaranteed or necessarily replicated any other day of the week. Some auto traders are short-term “one hit wonders”. The Millionaire in PJs is equally as dangerous and crafty.

What exactly is the API-key? Richard Squire claims that the reason the secret source code never worked with any other auto trader is because they were missing an API-key. This API-key is apparently some sort of special number that activates the source code to stop trading when the winning percentage drops below 78%. This is foolery. There is no such thing as an API-key. Even if there were, we have reviewed several auto traders that claim to have a special way of protecting losing trades and turning off the auto trade function if the wins stop coming. This is not a new concept nor a secret concept. This is just the first time we’ve seen a scammer attempt to give it a name. Rest assured, the API-key is fake. Another scam that is going viral is the Zero Loss Formula!

How do binary options auto traders actually work?

One of our most commonly received emails is this question. How does an auto trader work and how does it make money? To start off, most auto traders do NOT work and do NOT make money. That’s the depressing fact of this whole business. Most auto traders are specifically designed to lose in order to profit the broker. This is akin to the “house wins” in gambling scenarios. The auto trader takes random trades without any strategy at all, and in no time at all the initial starting investment balance is lost. Because there is no human interaction, it is impossible for the trader to monitor the trades and stop them when they lose. We caution anyone who is thinking of joining an auto trader to understand the high-risk level you are about to take. Only join regulated brokers. Never sign up with a scam software. Always do your diligent research before signing up with any system. Most importantly, never invest money you can’t afford to lose! If you have a question about any trading software, please send us an email and we can share our feedback with you! Add the Opus Formula to your list of scams to avoid!

Can a new trader earn money trading online?

The best way to make money trading is by learning how the market works. The best way to do this is by joining a trading program that allows you to learn the charts and indicators while also following a professional trader for guidance. Social Trading with Tradeo provides that experience and much more. With their interactive trading platform, you can join in on chats, talk directly to the traders, and make friends with other newbies just like yourself. This is a great chance to learn the market while making friends and learning insider tricks! When you sign up with Tradeo, we’ll walk you through the best settings and best traders. Don’t forget to give us a like on our Facebook page & Youtube Channel.  Happy trading!

Summary
Review Date
Reviewed Item
Prizm Tech Scam
Author Rating
2