Greg Insider Method is a SCAM Review!
Please read our review on Greg Insider Method before investing into this binary options auto trading system!
Greg Inside Method is a scam binary options auto trading systems that hits the binary options industry from September 2015 with it’s strong pitch of “100% Safe and No Loss Guaranteed” that potentially attracts many traders to invest money in this software. Little do they know, the pitch itself has quite a subtle catch to it which we shall cover in this review and there can never be a No Loss Guaranteed in this world that does not cost you something else which in this case, your money.
The alleged founder of Greg Inside Method, Greg Marks, claims that he works in the financial industry specifically in hedge fund for more than 10 years and also claims to be very reputable. Unfortunately for him, we are unable to find information about Greg Marks to support his credibility. The Greg Inside Method’s website employs the typical countdown widget for available license left which supposedly to create a sense of urgency on traders that came across this site. Once again, we find the counter widget which resets upon refreshing the webpage very meaningless and it indicates a less trustworthy system that just after your money. In addition to that, there’s also a button in the website that offers the viewer to read the contracts that Greg had with a variety of binary options brokers regarding the guarantee agreement which supposedly covers up to $500,000 of the traders loss. We were disappointed to find out that there is no available documents to refer to once we click that button (email required though) but instead, we were brought to the member’s page straight away for his follow-up pitch. Currently, we have just covered aspects that a typical binary options scam sites has and trust us, these are not the most disturbing aspect for Greg Inside Method which we will cover next.
The most disturbing aspect about Greg Insider Method scam is it’s main selling point, it’s strongest pitch and attraction, the 100% win, 0% Loss and Refunding of trade losses up to $500,000. What Mr. Greg is proposing is that he is willing to absorb all the risk in all of Greg Insider Method users loss trades by using his own cash (up to $500,000 per person). Greg used the word “Insured” where put it simply, he claims that he will insure our losses if we were to trade through this software. He has also attached a snapshot of trade history that indicates loss trades as “Prevented”, meaning that there is no monetary loss incurred to the account balance. He has also conveniently mentioned that he only had a fix amount of money to Guarantee losses, hence there is only a limited amount of license left! Fortunately, common sense would dictate that there is no free lunch in this world, hence we went to investigate the catch on this deal.
We believe that the sum up to $500,000 insured is actually the binary options brokers bonuses which traders could accept upon depositing funds into the account. Greg actually did indicate on the webpage that there is a 100% instant deposit matching deposit up to $500,000, which means that should a trader deposit $10,000, he/she will get additional $10,000 extra funds to trade with. This is a HUGE twist of facts where Greg claims that he would pay for loss trades with his own money up to $500,000, when the actual fact is, the binary options broker will give an additional amount equivalent to your deposit value will be added into your trading account. Very SNEAKY indeed, Greg in fact, does not put in a single cent to this insured sum!
Perhaps, we could be fine with the above arrangement and do not care where this additional funds come from right? We could deposit in $10,000 in the account and lose the initial fund but still have $10,000 to trade with, right? Well, to be honest, if that was the case, it’ll be really awesome for us traders, unfortunately binary options brokers do not work like that. This is a very important aspect where Greg uses the Bonuses from brokers to attract traders, but little do we know, that by accepting bonuses from binary options brokers, there will be additional terms and conditions for withdrawals of funds! Most binary options brokers do offer bonuses to funds deposited into account, which we at Binary Options Sentinel would advise NOT to take up any bonuses unless you know what you’re doing. The reason is, most binary options brokers will impose additional terms and restrict your ability to withdraw your funds from the account based on the bonuses you accept. During our investigation, we find that Greg Insider Method syncs with RB Options (might be different depending on your location) as their binary options broker. RB Options is not that reputable however we would say that it is an average unregulated binary options broker based in Canada which we have no qualms with. However, we would always prefer to trade with regulated brokers of course. Back to the withdrawal restriction upon accepting bonuses, based on RB Options’ terms and condition, Clause 16, traders will only be able to do a withdrawal once they have reach a trading volume of (Deposit + Bonus) x 20 (We came across brokers that has a x 30 formula instead). This means should a trader deposit a $1,000, he/she will need to have a trading volume of ($1,000 + $1,000) x 20 = $ 40,000. Hence, with respect to Greg’s pitch, it should actually be “we’re giving you additional funds to lose with no obligation, but you have got to trade a whole lot more before you can withdraw your funds (and pray to god that you did not blow up most of your funds)”. RB Options Terms and condition was also nice enough to advise that “We not recommend taking a bonus, unless you know how to make it work in your advantage as leverage”. Well, based on Greg’s pitch, the bonuses he suggested to be used as an insurance, is definitely not using it as leverage as per the impression that we were given during the presentation. Sneaky indeed~
We encourage traders avoid trading with Greg Insider Method because of it’s highly deceptive selling point by using bonuses to be presented as “INSURANCE”. Traders that bought into his pitch will definitely be caught off guard during withdrawals just because they accepted the bonus. Traders who plans to use binary options auto trading software should not accept bonus as to minimize your loss and manage your money. Especially in situation where the auto trader does not work out for you, and you plan to withdraw your funds immediately to move onto another auto trading software but only to find that you CAN NOT withdraw until you reach the required trading volume. New traders should definitely stay away from bonuses!
Verdict: Greg Insider Method is a SCAM!
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