This review is about a new binary options scam called “SocialTrader”. It is presented by Jonathan Cooper, the creator and CEO of Social Trader.
Cooper says that SoicalTrader is an app that copies the world’s greatest trading experts on binary options. So you don’t have to learn or know anything about trading, this software will trade your account for you based on what others do.
Cooper says that he is giving away for free only 15 copies of his SocialTrader, so you have to act fast and sign up. This way he allegedly can guarantee that you will be making $1650 to $3200 per day.
SocialTrader scam
The presentation of SocialTrader is full of lies that prove that it is a simple binary options scam.
Jonathan Cooper
Let’s start with Jonathan Cooper, the alleged creator and CEO of Social Trader.
Well, this person does not exist, because his photo is a picture from a public stock, anybody can buy it.
Just have look at the picture on the right, you can clearly see the source of the photo.
Not to mention that any of the companies mentioned on the SocialTrader web site, like Samsung or NBC, do not even have a clue about this software.
Fake testimonials and fake traders
As it is usual with binary options scams, all the testimonials of SocialTrader have been made with paid actors.
But what’s worse is that even the so called world’s greatest trading experts that you will copy are fictitious, look at the example on the right. Again a photo from a public database.
No guarantees, not free
Cooper says in the presentation that he can guarantee you a daily income of $1650 to $3200 per day. But check the Disclaimer, there you can read not only that there are no guarantees, but also that you can lose money with SocialTrader.
And the typical lie: SocialTrader is of course not free, you will have to first open a trading account and deposit at least $250. So you will be risking and losing your own money with SocialTrader, because it is a scam.
Its purpose is very simple, Cooper will get paid for every new depositor that he can bring to his broker, this is why he made up his story and is doing all this.
Conclusion
SocialTrader is a scam sponging on binary options. Don’t invest your money with it, otherwise you will lose it. So far we haven’t heard any positive feedback about any social trading platform for binary options.
The most reliable way to profits with binary options leads through testing and building a profitable strategy on a free demo account where you really don’t risk anything.