I am going to make a review about a scam site which is latest in the binary options market. It’s known as AlgoMaster and a number of new comers have already lost their money trying to trade with this platform. It’s quite easy for an experienced trader to find out that this site has nothing authentic to offer but if you are a new comer you might fall prey to their trap. So, if you are new to the binary trading business go through this article and make sure you don’t become another victim.
I have already come across a huge amount of complaints on various review sites by traders who lost their investments entirely. So if you are thinking to invest in this platform please do a favor to yourself by reading this article.
Is AlgoMaster System a Scam or Genuine? | AlgoMaster System Review
What is AlgoMaster System?
The AlgoMaster System was founded by a certain James Torn who presents himself as the founder and CEO of the platform. In the promotional video in the website Mr. Torn claims that the platform will generate not less than $1500 per week. He claims that the platform is risk free and gives you a 94% win rate.
Just like every scam platforms the AlgoMaster System is no different as it claims that this platform is able to generate trades with its unique algorithm and that these trade signals will turn out to be a 100% win.
Well to Mr. Torn I would like to say that this is not the first time in history of options business that we have across with such a claim. It’s quite like one of those stereotypical scam sites which mastered the art of lying and putting false ideas into innocent people’s mind.
Moreover who is this James Torn? Is he actually a real person or just another paid actor with a fake name? Well, Of course he is and is an experienced one. And along with him the whole agenda behind the AlgoMaster System is fraud and is just a group of scammers who are trying to steal your money.
As we watch along the video we come to know that the AlgoMaster System has been beta tested by more than 300 professionals and that it is endorsed by big shot financial bodies. But where are the proofs? Neither did I find any major professional link nor is there any solid evidence to what they are claiming.
Within the first look of its official site it can be easily assumed that the platform is not authentic because its poor maintenance and amateur design speaks its entire story. Moreover the platform is not regulated nor is it licensed. This is enough to make you understand that you are not getting anything from this platform.
Yes, as a trader it’s your first duty to find out whether or not a platform is licensed by CySEC or any such regulating body. A licensed platform goes through various strict regulations and rules and offers professional service as they are subject to various financial laws and official scrutiny. There is a huge list of well known licensed sites that will offer you a good experience in trading and I suggest you to make a research about it so that you can have a good start with your trading. These sites wont claim to make you millionaires overnight instead offer you with knowledge and understanding of the market and trends so that you become accustomed to what’s actually going worldwide. But let me tell you there are platforms which can help you earn profits but for that you need to have patience and dedication as we know nothing comes easy and in the case of money it never does.
How it works?
If you go through the website you will find that the platform has actually nothing special to offer. It will just generate random numbers for you with respect to the trading option you choose. This is what all automated trading machines do that is to generate trading signals for you but they work on a certain algorithm.
The AlgoMaster System is just another random number generator and is not going to do any magic. This is just another way to steal your money which once you deposit in their account won’t be coming back. So why would you play fool?
What about the testimonials?
Well this is not something new and is a very relevant question while investigating a scam site. The answer is that these testimonials given by people on the official website and by chance if there are any in other social networking sites like Facebook and Twitter, are all fake.
Trust me, they have all been scripted out before and this is what a typical scam site would do to attract new traders into their website. There are two individuals going by the name Mike. F and John D. who have given testimonials on the official site and there lines seem to cliché as I come across such lines while investigating scam platforms.
Other False Information
This is very a confident approach by the people behind the platform but where actually is the Risk Disclosure Statement? There is no link provided nor can I find it anywhere in the platform.
There are false statistics provided all over the website for example that the members have made a total profit of $181, 467, 329 which is quite a story that I am not convinced of.
This is just a way to steal your $250 and maybe even more in the future if you keep involved with the platform. So, the only solution is to run away from this site.
AlgoMaster System – Final Verdict:
As I come to the end of the article I conclude by saying that don’t fall prey to such a lame system which is just waiting there to steal all your money. If you want to earn money through trading take a look around and visit the professional sites which atleast gives you a chance to understand the market and the business scenario with their educational programs and other tools. Take advantage of the better platforms which are dealing in the real market and avoid getting involved with scam sites like this and do yourself a favor.
Thank you for giving time to this article and leave a comment below if you need some more information regarding the platform.