Today’s product review came about in a backwards manner.
Instead of coming across an affiliate pushing a product, I came across a Binary Options broker that was getting slammed on the internet with negative customer reviews.
That broker is TitanTrade and in the course of investigating them I came across Alpha Fund Software, which is actively promoting Titan Trade.
As I came across the broker first, let’s start with them.
Bad PR or just bad?
When I came across Titan Trade it was via YouTube, and the comments on some of the videos promoting Titan Trade where vicious:
Titan Trade is the most miserable place you can ever put your money!!! I have been trying to get my money out for 2 months to no avail. Now they say I can’t make a withdrawal because there is a bonus in my account. THEY PUT THE BONUS IN MY ACCOUNT 28 DAYS AFTER I FIRST TRIED TO WITHDRAW MY MONEY!! PLEASE STAY AWAY!
Hey People DO NOT PUT YOUR MONEY IN TITAN TRADE! Once you put money in your account it will take you months to get it out. They are scam artist of the highest degree!!!! I have been trying to get my money out for months to no avail! Save yourself the trouble and just stay away. Read real reviews this guy simply makes money off of telling you how great they are…….
STAY AWAY FROM THESE THIEVES!! Titan Trade is headquartered in the Seychelles, where they are safe from any regulatory oversight or prosecution. I have been trying for more than FIVE WEEKS to get my $500 refunded, and all I get is ignored. I have repeatedly requested my withdrawal online through my account, I have e-mailed firstname.lastname@example.org, I have e-mailed my “coach”, one Daniel Venter, all to no avail. It is now apparent that Titan Trade has STOLEN my money, knowing they will not be penalized or prosecuted by any governmental entity.
My only recourse is to appeal to my US elected representatives to require the CFTC to BAN Titan Trade from doing business in the United States. Perhaps the loss of revenue will persuade them to clean up their sleazy, dishonest practices–however, I doubt it.
NO INTEGRITY AT TITANTRADE! I’ve been trying for two months to get my money back. Nothing but runaround. No response to emails. Chat window not available. Phones on continuous loop recording. I’ve never dealt with a company such as TitanTrade before where they are outright crooks. Save your money. Even if you do happen to get lucky and make a profit trading, good luck taking out any profits.
I understand that YouTube commenters are a, well let’s say lively bunch. Often I simply won’t read YouTube comments because they end up farcical and childish.
That being said comments like the ones above are often indicative regarding a product or company, especially when money is on the line.
Further investigation reveals that TitanTrade that they are allegedly based out of London. I say allegedly as they have no website address, their address is a business park that also offers virtual offices (e.g. a fancy PO Box), and they have no telephone number or email listed.
They are also only 8 months old at the time of writing, and are not listed on Companies House, the UK’s company tracking system.
Checking out further reviews puts them in the Seychelles or Cyprus, and mentions one of their phone numbers is associated with unsolicited calls.
Their site does list some phone numbers and confirms they operate out of both London and the Seychelles.
Most likely they are using the London address as a front to look respectable, the Seychelles address due to tax and other laws and probably live and work out of somewhere else.
All in all, this points to a decidedly dodgy outfit.
Then there is a marketer: Alpha Fund Software
All this leads back to Alpha Fund Software, a website that promotes TitanTrade.
As with most Binary Options affiliates, there website is less than honest.
They state that there are only two out of five spots left to sign up, but this is a hard coded image, it never changes, so it will always say there are only 2 spots left.
Next there is the absurd claim that this “software” can make you $32 per minute!
That’s $1920 per hour or $46,080 per full 24 hours.
This sort of number instantly makes most people greedy. It’s a simple truth and one marketers leverage to get your cash.
Figures like this are pipe dreams: if it were real, everyone would be doing it!
The trading ticker that comes up to help re-enforce the greed is suspicious. While I couldn’t trace it as being an outright fake, the fact it only ever shows $32 dollar pay-outs and the fact that it cannot be confirmed to be genuine should make you very wary of it.
The software itself will be standard broker software, nothing special about it, because let’s face it the affiliates don’t want to produce a product, they just want to get a commission.
That commission is for when you sign up and hand over your cash. It’s such a large commission (normally $250 or more per sign up), that their one motive is to get you to give in to your greed and deposit money with TitanTrade.
The Bottom Line
Neither of these two companies seems to be overly trustworthy: the broker has had a bunch of negative reviews and seems off from a legal standpoint; the Binary Option affiliate marketer is using typical and underhand methods to make you part with your money.
The brokers negative reviews are worrying, as it’s not just about poor customer service. Instead we are looking at the brokers failing to pay out money on time or even at all! Good luck trying to get any winnings, if there are any, or a refund out of them.
Note also that legally you have no help, they are outside the jurisdiction of the US and if I am right about the company, probably outside of EU jurisdiction too.
Even if we exclude these from the equation, Binary Options itself is a very high risk way of making money online. It’s akin to gambling in a lot of ways: you can play the odds, but most often it can turn into a loss.