- Report: #981328
Report - Rebuttal - Arbitrate
Complaint Review: Trade Rush
Trade RushInternet United States of America
Trade Rush Binary Options Trading | is a Flat out Scam Internet
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This is how the entire HUGE scam works around TradeRush and Option Bot.
They send out massive amounts of emails to your email for "Option Bot" which says it can predict currency pairs for binary options with an accuracy of up to 80%
Their hook is a free 7 day trail of their option bot software. However, at the end of the 7 days, they say "You can still use the software but the feed will be delayed"
Wait, Option Bot is control the feed? So they can also control feed throttling? That gives them 100% control of the "expected" results. Who owns Option Bot? It was built and created for the pre-selected binary options sites
But I didn't find this out until my money was long gone. Sure I tried the option bot.
I thought I might be able to double, triple heck even quadruple a nice amount of $ with an 80% accuracy from "option bot"
Boy was I WRONG.
You could only use this robot with a few select platforms to trade binary options with and when I checked with my broker scottrade, they said they do not offer binary options & they could not recommend a website to me. Same thing goes for
That's funny, why wouldn't these respectable companies want to partake in trading like this?
Because youre not actually trading, buying, selling or doing anything like you do on those sites or even Forex for that matter.
Where the scam happens is Option bot tosses off a signal to buy and the selected broker throttles the feed to make you lose your money a few seconds before the expiry time and then the price regulates very quickly to match what the current rate is.
When I watched and compared data feeds, TradeRush was significantly showing different numbers. Then when you placed a "call" or a "put" it would be a different number than what their own chart was showing! Furthermore, if you selected 60 second options and would click back and forth between the main page and this special version of option trading, you would find an even larger discrepancy in the data feed. This is all done on currency pairs that were not volatile at the time I was placing orders.
TradeRush would then remove the trade you had purchased from even seeing it on the screen about 30 seconds before the expiry time! Better remember what level you went in on! Then they would then send an email that would tell you if you lost or won. This gives them TONS of control to tell you about 80% of the time that your trading was "unsuccessful"
Kind of hard to be "unsuccessful" when other data-feeds from Google, Yahoo & Forex show the real data feed for the currency pairs I was trading on and I did not see the same results.
Furthermore, Option bot claims they simply haven't integrated more websites into the "bot" but all this bot is doing is really
doing is rendering a browser inside their application. You can use any trading platform if it were real. But to make things simple they have "identified" some trading platforms for you to use.
What really gets me is the option bot doesn't interact with any of these "trading sites" it simply shows a data
feed for pre-selected currency pairs and sends off a random alert of when you should place an order for a selected currency pair as a "put" or "call"
I selected "TradeRush" out of the options provided by Option Bot & if you do a Google search on it, you will even find that this company has gone out of their way to make more marketing fluff with "scam" in it so you don't find actual "real people" reviews, just spun garbage from the parent company.
Where the scam comes from is 2 fold. One with the "option bot" more than likely created by these "selected binary trader sites" sending signals to put money in.
The second being from the preselected trading sites and throttling the data making you lose. But wait, the robot told me I would win 80% of the time. Maybe Ill deposit even more funds to keep trying
Nope, I will not. I wrote this so people feeling like they might miss an opportunity stop and realize they are only missing out on giving these scammers at minimum $250 deposit.
How it works on Traderush:
You must deposit an initial minimum of $250, which is not unheard of when investing.
After the deposit, you must send them 3 forms of ID: A bill, ID & the credit card used for the deposit. Again, not too far off as this is common with investing platforms. However, the company is based in Cyprus which is on the US lists for Banks to not do business with.
Next, is time to start trading. In the first day, my accuracy was 82% over 23 trades. I made some pretty good $$ and was really looking forward to keeping this up. The second day however, I started to notice something a bit odd.
Right before my options were about to expire, they would completely disappear from the trading platform.
Next day, my rate slipped more and more until my initial deposit was suddenly all dried up.
This "binary options trader" is doing nothing more than displaying a worthless trending data feed from currencies & alerting you when you should place a put or a call on one of the binary option trading sites which has throttled their data
feeds against anyone trying to generate money.
If you want to make real passive income, this will only cost you. You are much better off building a website and monetizing the traffic.
I truly hope this helps someone.
This report was posted on Ripoff Report on 12/12/2012 10:18 PM and is a permanent record located here: http://www.ripoffreport.com/r/Trade-Rush/internet/Trade-Rush-Binary-Options-Trading-is-a-Flat-out-Scam-Internet-981328. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.
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