If you have received an email from The Inside Trader scam, please read our The Inside Trader review before investing! This devious and malicious binary options scam is responsible for robbing and tricking thousands of new day traders into investing their money. For those of you familiar with this industry, please be aware… The Inside Trader is identical to the Nasdaq Inside Trader that was released a few months ago!
You most likely received an email claiming you could “earn thousand of dollars a week just like our beta testers”. Do not believe it! This is the same scam email forwarded to thousands of others each and every day. This email belongs in your spam folder. The only reason it made it into your inbox is because your email address fell into the hands of aggressive affiliate marketers and their team of scam artists.
Please keep reading to see the evidence we uncovered while researching this fraud! Beware of the malicious Lexington Code scam being given false reviews!
Official Website: http://theinsidetrader.co/
Binary Options Trading?
Alex Steele and his “stock market and software specialist” group of friends have just re-released their binary options auto trading software that claims to generate 80 thousand dollars a month and 8 thousand dollars each day. If this claim strikes you as sounding too good to be true, that’s because it is!
It is realistically and logically impossible to make 80 thousand dollars in one month with an auto trader. This scam is so tired out and so worn out we’re surprised that it still manages to trick people. For those of you that are completely new to this industry please see the following FACTS.
1. Binary options is a lottery. You are placing a bet on which way you believe the price of a certain asset will go, either up or down.
2. If you win the bet, you win a large percentage of money, usually 70% of the money you invested. This means that if you place $25 on a trade (bet) you will get back around $42.50 if you win!
3. If you lose the bet, you will lose the entire amount of money that you wagered, so in this case, you would lose your $25.
4. You can either make money very quickly or lose your entire investment in the course of 5 minutes time.
Binary options auto traders are 99.9% scams. They simply trick you into investing by telling you they found the secret formula to make all of your trades or bets win. But everyone who has been around this industry for long enough already knows that betting and lotteries can’t be predicted with perfect accuracy. Nobody knows for sure what direction a trade will go.
Even in the rare cases that you actually win several trades in a row, the broker you invested with has the ability to manipulate your trades so that you lose, even if just by a few pips (points). We have seen and recorded binary options brokers manipulated trades. This happens more often than you think.
Why do they do this?
They manipulate the trades in order to take your money! When you win money, they are paying out. If you lose, that money becomes their money. They have very little motivation to actually help you profit.
The Inside Trader Review
After taking the above information into account, it is easy to see through the lies of The Inside Trader scam. Alex Steele tells us that he discovered a secret way to predict all trades with 100% winning accuracy.
So did he discover the secret grail of trading?
A few months ago, a man claiming to be Alex Steele launched a website called Nasdaq Trader. The promotional video and website were exactly the same as The Inside Trader. In fact, if you listen to The Inside Trader video, you will still hear them accidently call it “Nasdaq Trader” a few times. The majority of the time, you will also notice they have edited the video and inserted the name The Inside Trader several times.
Who is Alex Steele?
There is no photo of him provided, so we can just go by what he says about himself. He claims to have worked for an “inside trader” on Wall Street where he learned all his special secrets and skills. So did he?
Alex Steele does not exist. He is a fictional persona created by the scam artists working for Binary Book (broker). They devised the entire story from thin air and invested the Alex Steele character to convince you to sign up and deposit money. This is how the unregulated and scam broker make money! They do this day in and day out. Lies and lies and more lies.
In addition to a fake creator, the entire premise behind this auto trader can not be verified. There is no secret group of beta testers that made millions of dollars. As you will see below, all of the “users” are simply fake photos and fake quotes. None of them are real.
Shortly after the original version of this scam was released, we received numerous emails from people trying to get their money back after losing it. Not one person made even $100. Nobody made a thousand dollars. In fact, nobody made anything. They all lost their investment, exactly in the way this scam was devised to operate.
A few months have passed and the scam artists simply changed the name and sent out the same scam again in hopes of reaping more profits. Sure enough, we have already been taking in several emails a day from people who tried it and lost their money.
For most of these people, they were completely unaware that this was just an old scam with a new name. When they found out, they were quite shocked and dismayed. The brokers that have been working with this scam, Binary Book being one of them, have worked hard to take these people for a ride. Even after losing their money, they have been calling them and demanding that they invest additional money.
If you scroll down the site, you will notice a section of reviews from supposed users. These people are NOT real. We found their pictures online being used for other scams, as well as on shutterfly. The reason The Inside Trader uses fake photos and edited quotes are because they don’t have any good reviews from real users. Even the actors featured in the video are all lying. They are reading from a script. None of them are real traders!
Investing and Earning Safely?
If you’d like to earn legitimately, without being scammed, please read our review of Social Trading with Tradeo. If trading is not down your alley, and you’d still like to earn safely, please read our review of My Paying Ads.
Please remember, that no online earning opportunity comes completely risk-free. However, we have tried to find the best solutions that carry the least amount of risk.
Is The Inside Trader a Scam?
The following facts are proof that The Inside Trader is a scam!
1. This binary options auto trader is the same as a previous scam that was already exposed.
2. Alex Steele is not a real person!
3. All of the user reviews are fake.
4. The Inside Trader works directly with scam brokers.
Please contact us if you have any questions or need advice. If you have been the victim of a scam, we need to hear from you! Be safe and happy earning!