Product Name: GPS Trader
Product Type: Software
Type of Scam: Binary Options
Some guy with a beard telling me he made 27 random people millionaires the moment I hit the site. This is usually a big red flag for me, in the case of GPS Trader I think that my spidey senses are telling me to go with my gut.
As the video goes on it tells me that I too can be a millionaire within a few months and that all of this can be done for me, with their team
There’s more red flags a rising here for me now, and I’m not sure that this can really provide a turnaround, I think that’s a bulls**t claim to be honest, but I’ll humour them and keep watching the video.
Hmmmm bad move I carried on watching and now I’m being told that I’ll have $20k in my bank balance within 24 hours from now, this is not looking like a realistic product in the least, and I personally think that you should run for the hills away from this god awful scam that is GPS Trader.
In fact the GPS Trader scam is actually worrying me a little bit that they seem to have my location nailed to a T on the webpage, and while I know it’s just that they are using my IP it makes me wonder what other underhand tricks they are going to try and pull on me.
The guy starts banging on about how trades are selected based on my GPS location, and this is utter arse biscuits in my opinion.
For a start, trading global markets is exactly that “GLOBAL” meaning it doesn’t matter if you’re in London, or tied up in a Malaysian brothel with Tia Carrera’s sister being whipped with a sugar cane with an unhatched conker on the end of it.
Wherever you are, you should be able to trade under identical circumstancesm that’s the entire point of Binary Options trading in the first place, and I find it rather hard to swallow that this sort of angle is being pushed on me as a unique selling point.
I think it’s fair to say that whoever is marketing the GPS Trader doesn’t have a clue about trading dynamics, as your location plays no real part in your trading unless your internet is crap.
Here’s an excerpt from their site
By using the latest cutting-edge satellite technology, our GPS Trader App enables YOU to start making life changing amounts of money on complete auto pilot. Our technology is constantly monitoring the world’s financial markets, 24/7 using satellites in order to speed up the transfer of trading data by 94/100ths of a second. This allows normal people just like you to receive an automated cut of the 5 trillion dollars that are traded every single day!
I’m just not seeing why they would be saying this, unless of course they are addressing the issue of latency, which to be honest is a big problem with pretty much all auto traders.
Given that I might be giving them a pretty harsh judgement, I’m going to try and sign up, and get a peak at the software, but I’m not actually going to deposit and test it unless you request I do so by using the “VOTE” form at the bottom of the page.
As I sign up, they tell me that they have funded my account with $50 and they show a mock trade of $40 to demonstrate how powerful their software is.
I’ve actually seen this done before, so I would say that this software is another victim of a marketing company either misrepresenting their app, but like a said I’m not going to part with any money unless you specifically ask me to.
The software itself looks ok, but I’m not feeling the over selling of the product, and this is putting me off. I’m going to pass up on GPS Trader it looks like a scam to me.