Quick Summary of Dubai Lifestyle App
Rating: 1 Just another Binary Options scam
The Good: None, really there are no pros to find here.
The Bad: Lies Exaggerated earnings claims Fake Testimonials High risk method of making money and probably lots more!
The Bottom Line: Binary Options betting is basically betting on a coin flip. Would you trust someone who told you they could guarantee if a coin would land on heads or tails? Not in a million years. Avoid binary option trading scams and stick with our tried and true methods of making money online instead.
Dubai Lifestyle App Review
I’m pretty sure that if you asked anyone, they’d be more than happy to live like all the rich people in places like Dubai. I know I would, wouldn’t you?
Now, we all can’t be royalty or own an oil field, so becoming a billionaire doesn’t seem likely.
Still, there are ways to make money online that can certainly make your life much easier.
And then there are methods advertised online that are also very risky and somethings just a plain scam!
Trying to navigate that minefield is exactly why I’ve Tried That is here.
Today I’m taking a look at Dubai Lifestyle App, a Binary Options trading system that suggests it can make you really rich really quickly.
What is Dubai Lifestyle App?
Well, first and foremost, it’s not an app like those you get on your phone. Instead, it’s an online trading system that states it can help you make money by trading Binary Options.
As with all systems like this, they promise the earth. I mean really, no computer program is going to be able to turn a $250 into over $7,000 overnight, which is one of the claims made here.
In fact, as with most Binary Options systems, there’s a lot of worrying elements to the sales page associated with Dubai Lifestyle App.
Apparently there is room for only 100 beta testers for this system, and the number in the corner tells you how many spaces are left. Oddly enough, this always changes when you refresh the page, and it can go higher, which suggests that really this is just a trick.
As well as that is the countdown in the other corner. Once it hits zero apparently the offer expires. Yet I was still able to sign up after it ran out: it’s just another trick!
These less than ethical methods are designed purely to make you rush into making a decision before you have the chance to properly think it over.
Not a Scam?
Well, it’s not a scam according to the people behind this system, who can obviously be trusted not to be biased right?
In fact this is a relatively new but now quite commonplace trick that dodgy sites use to try an differentiate themselves from the other scams out there. It’s also intended to get on your side as it’s quite possible you’ve already fallen for a few scams in the past.
People want proof that things work before they try it out themselves, especially if there is a risk of them losing money.
This type of social proof is often provided in the form of testimonials.
The sad part is that with the rise of the gig economy you can buy a fake testimonial for a few dollars.
Dubai Lifestyle App has done exactly that!
You simply can’t trust a word coming out of the so called existing members mouths as it was likely written by a sales guy!
The guy supposedly behind Dubai Lifestyle App is called Scott Hathaway. Maybe that is true, but the photo supplied of the guy is a stock photo you can pick up for a few bucks, or even just swipe from one of the thousands of other websites already using the same photo!
By not using real details how can anyone have faith that this is a legitimate system that works? Why would the real owner go through all of this effort to conceal their identity?
Show Me the Money!
As is typical of scams like Dubai Lifestyle App, there’s a large emphasis on reminding you how poor you are and filling your head with dreams.
These come in the form of pictures and videos of expensive cars/boats/houses, good looking people enjoying themselves and exotic locations.
The idea here is purely to make you dream and dream big, while losing site of the cracks in the façade.
Binary What Now?
If you’ve never come across Binary Options, or maybe have heard about it but aren’t exactly sure how it works, let me give you a quick primer.
The idea is that you “trade” in stocks. Unlike most common stock trading, you don’t actually purchase a stock.
What happens is you choose a particular stock and decide whether the stock will be higher or lower than it is now. If it’s higher then you make money and if it’s lower then you lose money.
The key difference between normal stocks and Binary Options is the time frame. A normal stock you buy and are investing in it for weeks, months, and years, maybe longer.
A Binary Option is looked at for literally a minute (60 seconds).
In that short a period of time there is no way you can tell which way it will go as stocks jump up and down at minute levels constantly.
Trending information is really only good for the long term stocks, it cannot tell you if over the period of 60 seconds if a stock will go up or not.
And that’s the big problem with Binary Options, you’re literally guessing. It’s not even a bet, as you have no supporting information; it’s more like a coin flip.
How can you make a sustainable, life changing income by constantly flipping a coin?
Behind the scenes of Dubai Lifestyle App is the broker.
Basically these are the people that support scams like Dubai Lifestyle App as they offer people a commission signing people like you up to the broker. And they are hefty commissions!
Stox Market is an unregulated (as far as I can tell) broker based out of the Marshall Islands with ties to Scotland and Switzerland.
This means that you’re on your own if you have a problem as there’s no governmental body to help you out if things go sour.
And they well might because Stox Market has a lot of negative reviews online. It’s also quite dubious that they don’t have a front end website, only a client area.
Yet Another Scam
When signing up to Dubai Lifestyle App I came across a video that was very telling as it had a watermark for a completely different system: 1K Daily Profit.
This is another Binary Options scam we reviewed a while back, and the existence of this video within Dubai Lifestyle App suggests that the people behind 1K Daily Profit are also behind Dubai Lifestyle App so are serial scammers!
The Bottom Line
Binary Options is not illegal, though it really is a high risk method of making money that has no basis is skill or experience, only luck. You are basically betting on a coin flip. Would you trust anyone who could guarantee which way a coin will land? Absolutely not!
That being said Dubai Lifestyle App is definitely a scam due to the numerous lies, falsehoods and tricks it uses to try to get you to sign up with the broker so that they can walk waway with a big fat commission at your expense.
Avoid this one and stick with our tried and true methods of making money online instead.