Financial Echo: Another Binary Option Scam on Repeat
Quick Summary of Financial Echo
Rating: 1 So bad it deserves zero!
The Good: This Binary Options scam has very little going for it barring a pretty lady in the video!
The Bad: It's all lies: the pretty lady is an actress, her words fed to her by a script and none of it holds up in the harsh light of day!
The Bottom Line: If something lies to you from the get go, do you really think you can make a sustainable business from it? If you want a way to build a real business, read my top recommendation.
Financial Echo Review
I recently reviewed a Binary Options scam that involved a fake news report, and I have just come across yet another Binary Options system that is using the journalistic approach to try and provide itself some legitimacy.
That system is Financial Echo.
And it’s equally full of crap.
The sales page for this particular system is laid out in a faux online newspaper format.
It has a menu structure, financial market reports and even an advert. It’s not very well done, but you can clearly see the angle they are trying to take.
The first thing that gives away that this is fake is that everything you can click takes you to one place regardless of what the link says.
The copy writing on the page discusses how a 24 year old single mother “discovers” a way to make $8,000 a month.
It goes on to say how they investigated this miraculous announcement and discovered that the software was incredibly powerful.
This is a typical angle that unethical marketers that promote Binary Options take. They hope that if they tell you that someone with more knowledge in the subject says it is a good system, that you will take that persons word for it, as you simply don’t know if it is true or not.
Unsurprisingly the comments at the bottom are fake, the images used are from stock photography sites. Adding a comment just refreshes the page.
The Financial Echo Video
The core of the sales pitch is the video. It starts with a news sounding jingle and leads you to a news anchor, a Brit, reading a poorly written script badly.
The “news” then moves to the star of the show, a lady Brit this time. She doesn’t give her name, but I know this lady, as she has appeared in other Binary Options scam videos (notably Profit with Cindy).
Later in the video she is referred to as Ashley Green (on a bogus bank statement) but that’s likely to be bogus too.
If you would like to hire her, you can purchase one of her testimonial gigs over on Fiverr.com.
Yes, that’s right, it’s all fake!
She begins discussing a system called Instacash, and tells you that you need to secure a spot now otherwise you might end up paying when the beta period ends.
When she started using Instacash she didn’t know what she was doing but was pleasantly surprised when the trades were all successful. OF course they were all successful, that’s what it says in the script!
Something that surprised me about this system, was that the creators of it were quite clever. Instead of over hyping the system they kept the earnings per month quite low (yeah £8,000 or $10, 000 a month is still a low ball figure in Binary Options circles!).
They also said that you need to do some work, Ashley stated she worked about 15 hours a week at this. Normally a Binary Options scam would tell you that you need to either click a button and walk away or only spend 10-15 minutes a day at it.
The fact that the marketers are aiming at more realistic goals is worrying as it lessens the nagging feeling that this is a scam, when in fact this is a scam!
Back to the video, the actress portraying this 24 year old single mother, goes on to describe how there is a fancy mathematical algorithm behind Instacash that provides signals that enable you to win the trades.
I have no doubt that this system will provide you with some sort of trading signals, just as I have no doubt that these signals will be about as effective as simply guessing.
There is not system (at least none made by a marketer and released to the public) that can accurately predict Binary Options trades. The market is too volatile when looked at in the macro time scales that Binary Options exists in.
Most likely the signals software has also been provided by the brokers or is one of the many that are sold to scam artists like these people, in order to perpetuate the scam.
If someone truly had a system that worked, they wouldn’t promote it via a dodgy website, with an actress hired from Fiverr!
The screenshots of the bank statements and so forth look real, but they can be very easily faked and seeing as nothing else so far has been real I would put real money on them being doctored.
The video ends and doesn’t even cut back to the daily news, how crap is that?
The Bottom Line
Financial Echo’s is a poorly put together attempt to scam you out of your money.
The person behind it merely wants you to sign up with a Binary Options broker and deposit some cash so that they can make a hefty affiliate commission from it.
Binary Options are at best a high risk venture and all of these so called systems that allegedly provide you with highly accurate predictions are just scams.
My advice is to avoid this like the plague!
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