Cash Giveaway: Have Baloney Thrown at You!
Quick Summary of Cash Giveaway
Rating: 0.01 out of 5. It's so ludicrous, I couldn't even give it a 0.1.
Pros: Cash Giveaway at least spares you from reading fake customer testimonials and seeing fake "live" trading feeds.
Cons: The story line you are fed is ridiculous, and the sales copy looks eerily similar to a bunch of current binary options scams.
Our Recommendation: If you want to try binary options trading, stick with a licensed broker based in the U.S. or Canada. Or go with our #1 recommendation for making an honest living.
I gotta hand it to those binary options scammers: They sure know how to make me laugh. Case in point is Cash Giveaway.
The Cash Giveaway sales video is quite ludicrous. Someone named Stefan Kaminski brags about how he is “literally having money thrown at me” and has “forced big companies into legally giving me cash for free.”
Interestingly, these statements are technically true, but I’ll elaborate on that point later on in my review.
How exactly has Stefan managed to accomplish this feat? Stefan has developed a binary options trading software that generates five figure earnings in the space of a single day. Which means that, in just under three months, Stefan has become a cash millionaire.
Nowadays, Stefan spends his days shopping for designer shoes and eating at 5-star restaurants. Stefan used to work in IT until he was laid off- but why should he work now, when he has boatloads of cash coming in each day?
Cash Giveaway: We’ve seen these tactics before
Cash Giveaway uses the usual binary option scam tactics to get you to sign up for its trading software, including bragging about how effortless it is to make tons of money each day, how Stefan used to be unemployed but now spends his days shopping, dining and playing on his Xbox, and how you need to take action now, before this amazing offer expires.
And of course, there’s the inevitable “It’s not a scam” declaration.
The supposed back story here is that Stefan investigated the binary options brokers and discovered that they all use a central “white label software” that costs a huge amount of money to purchase. However, after calling the company that sold this software, Stefan learned he could test it for free for three days.
In those three days, Stefan, thanks to his expert IT skills, went about reverse engineering the software in order to “take away the algorithm that allows the brokers to choose how much you win or lose.” As a result, Stefan’s revamped software could be manually set for any payout ratio, which he set to 100%.
Thus, we have the secret loophole that makes this software a virtual money-making machine.
You’d think that a reverse engineered software platform would plug into and work with any binary options broker. However, that is not the case. Stefan urges you to only use his personally recommended broker.
When you sign up to Cash Giveaway, you learn that this particular broker is Ivory Option. The video that starts playing upon your registration instructs you to make at least a $250 deposit with your new broker. In exchange, you are guaranteed to make at least $500 in the next hour.
How is this even possible, when you might open an account after market hours or on the weekend?
Well, the “cash giveaway” in this case isn’t the money you think you’re going to make from trading. No, it’s the bonus money that the brokerage is giving you as an incentive to begin trading.
Once you accept that bonus money, there’s no way you’ll ever be able to withdraw your original deposit, at least not without first conducting many upon many trades.
Indeed, on the Ivory Options website, you will find the following disclaimer about its bonuses:
In order to withdraw funds from an account that has been credited with a trading bonus, the trader will be required to execute a minimum trading volume of (bonus amount + deposit) x 25.
That’s how Cash Giveaway gets away with sending you emails that state the following:
This FREE presentation reveals how to
legally force brokers to pay you money
each and every single time you open a
Or the following:
This is also how Stefan can make the claim that companies are literally throwing money at him. Yes, it’s technically true- if you consider those companies to be binary options brokers and the money to be the bonus that you get as an incentive (i.e., credit) to start trading.
Who’s really throwing their money around? You
Cash Giveaway uses almost the same exact tactics and text as Copy Trade Profit, yet another binary options trading scam reviewed on I’ve Tried That. Notice the sales page similarities below:
Why are so many people touting fake trading softwares? Because they are affiliate marketers who stand to make a fairly decent profit once you sign up to their preferred broker:
That’s not saying that the broker, which in this case is Ivory Option, is itself a scam. In many cases, the broker may not even be aware of the scam tactics used by its affiliates in order to get people to sign up. However, Ivory Option does have its own affiliate referral program via CEO Affiliates, so it may be cognizant of the tactics used by a select number of its affiliates.
Another worrisome trait is that Ivory Option does not appear to be licensed by the CySEC, the regulatory body for brokerage firms based in Europe (Ivory Option is based in Gibraltar). Without licensing, you’ll have a hard time taking a brokerage firm to court and winning your case.
All in all, if you’re signing up with an unlicensed broker that is located in another country, and you’re getting bonus money on top of your deposit, you can forget about ever seeing your initial deposit get returned to your bank account. You’ve just thrown your own money at the scammers- and they are long gone by now.
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