Quick Summary of Open Source Spy
Rating: 1 Really, really dodgy! Doesn't deserve even one star!
The Good: The video is short. Yes, that's the absolute best I can say about Open Source Spy.
The Bad: It's a scam! It promotes illegal activity! It doesn't seem secure!
The Bottom Line: If you are serious about making money online, in a legal way that doesn't put you at risk of fraud, then you need proper training, support and guidance, not schemes like Open Source Spy. There's only one support network that I would recommend.
Open Source Spy Review
There are certain lines that marketers shouldn’t cross, such as outright lying to people, or promising the something only to deliver a watered down version.
Of course, most unethical marketers don’t give a damn about crossing lines.
I especially see this when I look at Binary Options systems.
One such system, Open Source Spy, not only crosses a line it should never even go near, it asks you to cross that line too!
As with most Binary Options affiliates’ sales pages, this one consists of a sales video and some fluff.
The fluff in this case, being a “live stats” section that apparently shows the earnings being generated by this system. This is BS though as simply refreshing the page resets the count.
The video itself is relatively short but what it discusses stunned me.
It starts with some clips from news items discussing the states of the economy and recession. These soundbites are purely there to remind you how bad the economy is at the moment, and subconsciously set you up for the rest of the video.
Just psychological tricks to make you worried.
The narrator, who sounds like a robot version of Barry White, begins discussing P2P networks. Just in case you’re not aware a P2P (Peer to Peer) network is a file sharing network between computers, sometimes used legitimately, often used to share pirated software, music and videos (BitTorrent is a good example).
He says that he basically controls the P2P networks, but of course, he is not a hacker or an internet genius.
From there comes a pointless story about Napster, a famous 1990’s/2000’s P2P network. I’m not sure why he brings this up, but there you go.
After that and this is what made me pause, he states that what he does is to get hold of software that no one else has or costs an arm and a leg to obtain and then provides it freely to your average Joe.
This guy is basically saying he hacks/steals/otherwise illegally obtains software and then pirates it and distributes it!
Regardless of your stance on pirated software, this is still an illegal act (actually it’s potentially multiple illegal acts)!
He justifies this on the basis that big business is bad and they can afford to have their software given away for free.
Not for sale? So you STOLE it then?
I know exactly how long it takes to write even a relatively simple piece of software, and the man hours alone that go into the initial coding, the testing, the iterations, the additional features, the bug fixes, the security fixes, and the support is immense.
No company, big or small, deserves to have their software pirated.
What makes this worse is that if this was for real, by signing up and using this software you too could be considered liable. I’m no lawyer, perhaps you could get away with it, but you would be knowingly using illegally obtained software.
The good thing is this: he is lying!
He states that the software was obtained from a successful Wall Street trading company and renamed to avoid detection. If that were true, renaming the software you be like changing the sleeve on a book: open it up and you can still tell what the real story is.
Signing up to Open Source Spy
I signed up to this system to see if it was remotely true. The answer is no. The software is just the brokers’ software, branded with the Open Source Spy label.
The Open Source moniker is also very misleading on two counts:
- If the software was illegally obtained, it would not be open source to begin with
- The code is never provided, which is the bedrock of open source
My next worry about Open Source Spy, was the depositing of money.
Like with all the other Binary Options scams, they require you to deposit money in the broker account before they give you access to their “unique/special/amazeballs software”.
The website uses HTTPS, but it also routes the credit card details through a third-party site called Binary Promos, rather than the broker themselves.
This is very worrying as now, 3 different entities can have access to your card details: the unknown affiliate, the unknown middle man (Binary Promos), and finally the broker (who is outside of US jurisdiction).
That’s 3 ways you can become a victim of fraud.
The Bottom Line
Open Source Spy is just another binary scam system we’ve seen thousands of times already. It can offer zero proof of either earnings or legitimacy. It offers an uninspired tale of thievery in an attempt to get a new spin on an old scam.
Even if the software is for real, which I do not believe for a second, then it is stepping from a grey legal area where Binary Options sits, straight into the dark world of illegality. Not only that, but it will pull you through with it!
Avoid this one. There is no magical piece of software, stolen or unstolen, that will generate millions of dollars for you.