Quick Summary of Googletrader
Rating: 1 A scam, pure and simple
The Good: No pros, not a single one.
The Bad: Many cons:It lies to you It offers zero evidence for making money It fails to provide legal disclaimers It illegally uses another companies trademark
The Bottom Line: This "system" not only lies to you, but it 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.
It’s customary for marketers across all niches and formats to jump on the gravy train when a product, company or service hits the big time.
Normally it’s done with licences and so forth, but for one small segment of the internet marketing profession rules and etiquette means nothing.
Binary Options marketers tend to jump on big names without regard for things like copyright or actual endorsement and use these big names to push their sales pitch for a less than reputable trading method: Binary Options.
One such Binary Options system is Googletrader (also known as gtrader and gtradersoftware).
According to the sales pitch, Google helped the author of this site make $6 million in a single year. How I hear you cry? Let’s dig into the video and find out.
The video starts with a bold claim; that it is the “most advanced auto trading system in the world”.
It also claims that you can make an astounding $1,800 to $4,300 a day with no cost to yourself.
These are definitely hyped up, as this is the sort of rhetoric you hear in every Binary Options video.
After whetting your appetite, the narrator comes on. He is, allegedly, Ben Williams, CEO of Googletrader.
As a CEO, one would think that Ben would have the sense to not use a trademarked company name in his own business and product name. He is not only inviting a legal claim, but surely he must know that he will lose.
Well, here’s the rub: he doesn’t give a damn, as the company doesn’t really exists and he is trying to fly as low under the Google radar as possible. If the site gets taken down, it’ll pop right back up again on a different domain name – that’s how scam sites work.
After this come some typical “testimonials”. I like how the video adds “clip taken from YouTube” to excuse their poor quality and disavow themselves from ownership of the clips, especially when it is obvious that these are hired actors:
These testimonials are designed to make you feel like everyday people can use this system. This is then solidified by the video telling you what you do not need in order to use the system.
This list basically sums the system as a push button auto trader with no reliance on skills or knowledge of any kind.
What’s the problem then?
You see, auto trading is a viable way to make trades online. It does the job for you at the click of a button.
What’s the problem?
Well, they don’t work.
At least they don’t work reliably. They are dumb pieces of code that try and guess which way to take the trade and any success is usually down to dumb luck rather than any particular coding ability.
In normal trades, software is actually useful as it can predict trends over time. Combine that with a trader’s skills, knowledge and gut feeling and you are likely on to a winner.
However, with Binary Options trading, all of that goes out of the window.
Actually, yes it is.
Binary Options trades over micro time periods 60 seconds usually, and trades fluctuate at the microsecond level, meaning that even over a 60 second period the commodity will jump up and down, most likely as many as 60 times a minute.
What this means is that broad trends, which is what trading software uses, are meaningless at this level, so all software can do is take a stab in the dark.
Combine this with the fact that the people behind systems like Googletrader don’t actually write the software (it’s off the shelf Binary Options signals software provided by Binary Options brokers in a white label format), and you can quickly deduce that you are getting scammed.
Therefore when they say that they have a 100% win rate, I chortle to myself, shake my head and scribble scam down on my notepad.
The video continues in this light, with more faked video testimonials and hyped up earnings.
It does state that the people behind Googletrader, will take 2.5% of your earnings. If this is true, you have nothing to worry about as the likelihood of making money with this software is highly unlikely. I do doubt what they say though, most Binary Options scammers, simply want you to deposit your money and then they will run as fast as they can with the commission they receive from the Binary Options broker.
I mean, Googletrader doesn’t even bother to provide you with the legal FTC disclaimer on Binary Options being high risk.
What about the other data?
The sales page contains other data that supposedly proves the effectiveness of Googletrader. However all I can see is lies and falsehoods.
The Total Members Profits section for instance. One would think that this figure would continually rise, yet every time you visit or refresh the page, it resets to $128,221,776. That’s dodgy.
The Live Trades section is sadly also faked. If you go to that page and examine the code, the data is just randomly generated. Those trades have never seen a stock market of any kind.
The “verified” trades below that are similar: generated on the fly by code on a different page!
What about all the Facebook comments? Well, I can’t prove that these are faked, but what I will say is that I cannot verify a single one as being real either.
The Bottom Line
Googletrader is yet another Binary Options scams in a long line of scams. Nothing what it says about earnings can be verified as true or accurate and there is a lot of data that can be verified as blatant lies.
Excluding the legal implications of using Google’s trademark in their website, business and product No system that advertises for affiliates on a site like Clicksure (a known marketplace for less than legitimate “products”) is going to be legit.
If they truly made $6 million in a year, then why not promote a system like this on national TV? Why not? Because it’s a scam and they are trying to keep under the radar and use affiliate to target desperate people who want to change their lives and will try anything.
But please, don’t try Googletrader, you will only walk away worse off than you are now.