Quick Summary of Binary Reserve
Rating: 1 It's a scam!
The Good: Nothing! Not one thing about this system is good.
The Bad: It pushes a high risk method of making money. It uses fake testimonials and fake social accounts to try to fool you. It uses hardcore and pushy marketing techniques to grind you down.
The Bottom Line: This "system" only offers a high risk, no guarantee of making money online: Binary Options. If you want a way to build a real business, read my top recommendation.
Binary Reserve Review
Marketers who promote Binary Options are often tricky individuals. In order to get you to take action and sign up, they use every trick in the marketing handbook, plus a bunch that were left out due to being so damn unethical.
Taking a look at Binary Reserve, another in a long list of Binary Options systems, it quickly became clear that I needed to warn you about this system.
Before We Start
Binary Reserve promotes a way to make money via Binary Options.
Just in case you’re not sure exactly what Binary Options are, let me give you a little crash course.
Binary Options are a trading method. Instead of purchasing stocks and commodities like with most other trading methods, you instead bet against a stock or commodity. You choose a type and a time period (1 minute or 5 minutes are the norm) and decide whether the stock price will go up or down by the end of the time period, based on the price at the start of the time period.
For example, you pick Gold as a commodity and 1 minute as the time period. You decide to bet that the stock will go up in price. At the start of the 1 minute the price is $400, if at the end of those 60 seconds the price is $400.01 or higher you win your “investment” back and a little bit on top (after broker fees).
If you guessed wrong, you lose your money.
The stock prices don’t slowly rise and fall, like it appears on long term stocks, they fluctuate rapidly and violently every second, so it’s a crap shoot as to whether you win or loss.
The FTC thinks that Binary Options is such a high risk investment type, they require a government disclaimer with anything that relates to its promotion.
If you’re a gambler then Binary Options might be good for you, but if you want to build a solid, and successful business, Binary Options is the worst possible route you could take.
The Binary Reserve Sales Pitch
The sales page comprises of several elements which set alarm bells off for me.
The first is a 10 minute video, which compromises the core of the sales pitch.
The video opens with a direct reference to recent socio-economic events: the video says that it will upset the “rotten” 1% and that it may not be available soon, as the 1% will no doubt pull it off the internet.
From this sideswipe at rich people, the video goes on to attack (perhaps deservedly) unscrupulous marketers who off crappy and scammy get rich quick systems. All the while the narrator manages to avoid the elephant in the room: that Binary Reserve is also most likely a scammy get rich quick system.
After this the video says that the information available is not only free, but could lead to a life of luxury, and promptly shows images of fast cars, big houses etc.
This type of tactic is common in Binary Options system, and while it is very obviously a marketing tactic designed to rile you up (shaking fists at the 1%) and to encourage your dreams of a better life, it is amazing how many people fall for it.
It pushes this point home by going on a length about how you could one day not have to worry about “crushing debt” and that you could fire your boss.
This typical sales pitch continues in time worn fashion by providing a basic sob story, hoping that you will empathize with it. From the time he was broke with debts spiraling to a time of being free from money worries. He puts this down to the Binary Reserve system but fails to explain exactly how this works.
From that point the video offers up 4 video testimonials, spewing how wonderful the system is and how it helped them get out of financial difficulty.
The sad part is is that these testimonials are fake, the people being hired testimonial actors from Fiverr.com. I knew this right away as the first testimonial was from a gentleman who has appeared on so many Binary Options scams, that if what he said was true for each, he would likely be a billionaire rather than someone selling his face for $5 bucks.
Generatecashbiz on Fiverr.com, is a popular actor used in dozens of Binary Options scam videos.
Please, don’t believe any of the testimonials on this video, they are scripted at best, lies at worst, but what they are not is genuine.
The video continues, peddling the rich lifestyle while ignoring anything like proof, legitimacy and honesty.
Just based on the video alone I would advise you to walk away from this pile of lies.
The rest of the sales pitch consists of Facebook posts and Twitter messages that supposedly show how widely this system is used and how beneficial it is.
It’s a shame then that these are fake! Not only are the social media posts images, but when you dig deeper you realize they are completely fake.
Take the Twitter stream: the first user doesn’t exist at all, the second exists but in 6 years has never tweeted once and the other 2 have suspended accounts.
What systems like Binary Reserve do is they hunt for unused or broken accounts and steal the names and add in random pictures and messages in a picture they can add to their site. At a glance it looks real, perhaps fooling a lot of people, but really it’s just BS!
Using unused and broken Twitter accounts to fool you into thinking they are real.
Signing up to Binary Reserve
After handing over your email address you will be struck by something: SPAM!
If you think I’m joking, take a look at this snippet from the Binary Reserve affiliate website:
“We literally won’t stop to approach your leads before we convert them into sales.”
Oh my word. This means that as soon as you enter your email, it’s been recorded and automated emails will be queued up to be sent. If you hand over any more data, be prepared to be bombarded by phone and mail too!
If you do continue, which I wouldn’t recommend, you will be faced with another pushy sales video and yet more fake users with fake data.
Going forward you are, of course, asked to deposit money. This is normally all they want from you, but be afraid because once you deposit that money, they will pump you for more in the form of a Pro memberships, that will net you about the same as the normal membership: nothing but heartache! All they while they net fast and untraceable cash and laugh all the way to the bank.
The Bottom Line
Binary Reserve is the worst sort of Binary Options scam out there. It preys upon the inexperienced and desperate and offers dreams of lavish lifestyles while providing nothing but a high risk method of making money (Binary Options) and provides zero evidence that anything it says is real.
My advice to you is to walk away from Binary Reserve or any other Binary Options system! If you don’t you will lose money, it’s that simple.