My Cash Bot
|Type of Business:||Binary Options Trading,|
|Skill Level Needed:||N/A|
|Income Potential:||Not Specified|
My Cash Bot Scam Review
by David Harris
“My Cash Bot”, by Albert Glenn and found at mycashbot.com, is a binary options trading bot program designed to make you money in the trading world.
Unfortunately there are many things wrong with it that I will explain in this article.
The leading story is that My Cash Bot is under investigation by international authorities.
I will understand if you stop reading right here, but wait! There’s more.
Unusual amounts of complaints all over the internet report that My Cash Bot is ripping people off with their system of inept, or crooked, brokers that you have no choice but to use.
My Cash Bot continues to use out of date trading code and the signals software and the bot they hype are as inept as their customer service.
After testing My Cash Bot and getting nothing but losing results, I decided to look around for what others had to say.
It seems the frustrations of so many others mirror my own, and then some.
First, the fake testimonials on the My Cash Bot website are so over the top with outright lies that it’s amazing that anyone would fall for this scam.
Then there is the confounding video presentation which will have you scratching your head at every turn.
The whole malarkey is nothing but a bait and switch con game.
They claim it is an app, so, you should be able to use it on your phone, but the video guy says you just click with your mouse to activate the autopilot.
It appears that it is NOT a mobile phone application since they say you control it from your computer.
And that is only one of the many contradictions on the My Cash Bot video presentation.
Everything mentioned is so vague that they just dangle pictures of money and mansions, and badly acted hype from fictional ”users“ of My Cash Bot.
Not to mention that My Cash Bot totally omits the main method of how you would make this alleged ton of money and that is trading on binary options.
I’ve seen some pretty horrible scams in my time but My Cash Bot is right up there with the worst of them.
It would be laughable if it wasn’t ripping so many people off.
Some of their other sketchy tactics include the well worn out “only a few positions left” ploy and the “it’s totally free” gimmick that you know will be anything but once inside the My Cash Bot system.
My Cash Bot is replete with discrepancies galore; starting with the 25 positions left routine’s faulty counter that doesn’t add up right. For example, having checked the site from my tablet, the counter had 27 positions left.
Another discrepancy is the number of members versus people who have tested it so far.
There are about 200 members but only 100 who have tested it My Cash Bot.
They keep these numbers low to make you think it’s exclusive but, really, this crew is getting tons of people coming in to get swindled all the time.
My Cash Bot has you paying $250 into a trading account in order to activate your membership account and begin the alleged autopilot trading, but there’s a flaw in that concept.
Trading in binary options is a lot like a coin toss as to whether a trade will go up or down, and there’s no way to make the high amounts of money My Cash Bot has you believing you’ll make by just using autopilot.
A big warning signal to you should be where the brokers all sit. All of them operate out of the U.S. in offshore tax havens like the Maldives, Cyprus, Mauritius and the like.
You will have to make a lot of trades to reach the $250 you put in and when you consider that those questionable brokers keep a sizeable percentage of your winnings, about 30% and 90% of your money if a trade loses, there’s an even bet that you won’t see your deposit back any time.
It’s a win-win for them every time, but not so much for you.
So we go back to the top of this story regarding My Cash Bot and it’s brokers being under investigation internationally for fraud.
It will be hard to touch them as long as they keep shifting and moving from money laundering haven to haven.
It’s an offshore trading shell game you do not want to risk playing.
My Cash Bot is a definite no-no of a scam.
Beware and avoid.
Thanks for reading the review