The Profit Hack is a new binary options auto trading software which is making it’s way around the internet. The software makes a lot of dubious and suspicious statements which raises a lot of red flags. This review will answer the question that many are asking: is the Profit Hack a scam? Should the software be trusted?
Let’s jump right in!
Name: The Profit Hack
Type: Binary Options Trading
Claimed Creator: Jake Sanders
Cost: $250 onwards to trade.
Silly Scam?: Yes
The Profit Hack Decoded.
As stated, The Profit Hack is a new auto trading binary options software which trades binary options such as currencies and commodities. With The Profit Hack, you are required to basically deposit a minimum of $250 and the system will then trade for you.
It is all automatic and there is no training offered or available. If you are a reader of Silly Scams, then you may have noticed a pattern with binary option robots: they never offer binary education or support and you never hear from them after you deposit.
The Profit Hack uses two videos to entice you to deposit. The first video plays when you visit the website. After you give your personal details, the second video automatically plays to encourage you to become a member.
$1,000 in 4 Minutes….Guaranteed!
The Profit Hack is presented by a guy called Jake Saunders who says he is 28 years old and mortgage free. When searching for Jake Saunders, there is no verifiable information which matches what he is saying. His name even sounds fake!. Is he related to Martin Saunders perhaps? The mind boggles!
When visiting the website, we are faced with a PRE-RECORDED ‘webinar’/presentation which is made up of FAKE ‘live’ trades. This lie can be proven by the fact that the page can be refreshed and the video will replay from the beginning. It is NOT live at all.
Arbitration is the main selling point of The Profit Hack which makes ZERO sense, so I won’t go into it. In a nutshell, this idiot basically says the software will not lose, which is impossible in the binary options market. The Profit Hack apparently scans 150 brokers at the same time to use the method of arbitration to make sure the trades are in the money. However, he doesn’t show us HOW The Profit Hack does this illustrating the lack of transparency.
Jake Sanders says that The Profit Hack has NEVER lost a trade and that there are only 10 spots available. On a scale of 1-10 on the cringe factor, he is a certified 10! He pretends to ask if we can hear him to make the LIE of speaking LIVE more convincing. Again, this is not a LIVE presentation, is a pre-recorded sales video which also has a FAKE ‘live’ chat room.
Check out some of the FAKE ‘live’ chat comments here:
Jake: Here is that link again.. Be quick! http://theprofithack.com/access/
Member: Just got my account ready Jake
Support: You are right on time since we have just few spots left now.
Member: $1200 profit in minutes??? This is crazy guys… what can I say, just WOW
Support: I guaranteed at least $1000 profit live! You can see that we fulfill our guarantees!
Member:What? you made 1600 dollars…. how do you do that? This is just unbelievable, never ever ever seen anything like that. Glad I am in, depositing funds to my broker account right now.
Support2: We’re opening 5 more spots Jake.
It’s funny how I couldn’t send anything in the ‘live’ chat. Perhaps it’s because the ‘live’ chat is not live at all. Furthermore, it was also amusing seeing the people sending messages being referred to as ‘member’. Couldn’t The Profit Hack think of some names to give to these imaginary successful users?
Cleverly, Jake makes sure to point out that the spots are decreasing in his sales video. He basically puts pressure on you not to miss out on this amazing opportunity which will scam you out of your money. Of course, these spots never decrease as scammers always wait patiently to scam others. If you refresh the page, the same video replays so the decreasing spots are just a ploy to get you to deposit.
Don’t Miss Out On This Scam!
After the sales spiel, there is a second video from Jake who reiterates the importance of depositing, so you can make a lot of money….for them. But before this, The Profit Hack want your personal details in case of you not depositing. In that case, they will ring and harass you (at least 10 times a day) to make the deposit so you can become rich!
The personal details required are your name, phone number and e-mail address. The Profit Hack makes it pretty clear from the outset that in order to use the software, you must deposit money first….for them to steal.
After entering the required details, we are then faced with the second sales video which is also led by Jake Sanders. He entices potential victims by offering an exclusive bonus offer whereby the depositor will get 100% bonus on whatever amount is deposited.
So if you deposit $250, you will get another $250 in bonus. One thing Jake does not make clear however, is the fact that this is not REAL money. You won’t be able to withdraw the bonus as it comes with various terms and stipulations such as a high trading volume rate as well as BAD business practices from UNREGULATED brokers.
Jake also doesn’t explain how it is the BROKER who is going to be offering you the bonus, NOT Jake. Jake is just a fake actor who is being used as the face of this scam. When I entered my details, The Profit Hack assigned me to a broker called AA Option.
AA Option are NOT regulated and they are NOT established. Furthermore, judging from the fake award badges on their website, it is clear that the both The Profit Hack and AA Option are definitely involved in this scam. They even have an affiliate page which illustrates the deceptive and shady tactics both The Profit Hack and AA Option are engaged in.
Just like Binary Book was heavily affiliated with The Nesdek App scam, The Profit Hack is associated with AA Option.
My Funny Conversation With The Profit Hack!
With that said, I took it upon myself, to have a conversation with The Profit Hack to determine if they stick to their lies or not. And they do illustrated by my hilarious exchanges with them. In the conversation, a person called Nathan says that he makes 7 figures A WEEK using the method!
Nathan: All you need to do is head over to the following webpage to sign up, create an account and make some deposit of at least $250 to start trading: http://theprofithack.com/access
Me: Are profits guaranteed?
Nathan: Yes, everything you’ve seen and heard on the webinar is 100% legit! The Profit Hack program is tested and verified by expert traders and has received positive feedback from its users. You are standing on the verge of making thousands of dollars a week and the profits are all yours to keep and to spend it any way you want!
Me: How much have you made?
Nathan: The Profit Hack works on a principle called Arbitrage Principle that analyzes prices from over 150 different brokers at the same time before it will be released in the market. It scans and picks out the best winning possibilities and makes the trades for you.
Me: How much have you made?
Nathan: I cannot give you my details
Me: Do you use the method?
Nathan: Of Course
Me: So how much do you make?
Me: A week
Nathan: 7 figures
Me: Wow really?
Me: So please can I borrow $250 from you?
Me: Are you there?
Needless to say, I didn’t get a response from Nathan who expects people to believe that he makes 7 figures a week from using The Profit Method. Maybe he was spiritually pondering on why he wouldn’t allow me to borrow $250 if he makes ONE MILLION a WEEK?
Tell The Truth And Shame The Devil.
The Profit Hack makes A LOT of claims which are not backed up. One thing which I have noticed in the binary scams industry is that scammers are being more ballsy with their promises. They make up the most convincing lies in order to get people to deposit and when their promises are exposed, they run away and move on to their next big scam.
Let’s go through the list of scamming tactics and lies The Profit Hack uses:
#1: The Profit Hack apparently guarantees your first five trades, so you can’t lose money. This is false. Trades are not ‘guaranteed’ in the REAL trading market because of the unpredictable and volatile nature of the market which is impacted by financial news. Think about it: in order to guarantee five trades, they would have to pay you back the same amount you traded which is unrealistic and false.
#2: The Profit Hack truly are desperate for your deposit, so they will tell you to ‘fund your broker account NOW!’ at least 10 times. Along with this annoying repeat, Jake promises that you will make a lot of money. The Profit Hack is promised to be different to other binary systems and that you will be able to make $1000 within four minutes of signing up! This makes ZERO sense considering the minimum deposit is $250. How can you make that amount of money that FAST using that small of a deposit? It’s all lies.
#3: The Profit Hack encourage people to ‘do whatever they can’ to get the deposit. They entice potential victims to borrow money from their loved ones by making statements like ‘you can pay them back an hour later when you are making money’ and ‘you will be able to take them out for a nice dinner’. How disgusting! These scammers never show their REAL face (which isn’t fronted with PAID actors and voice overs), and by the time your deposit is depleted, you won’t hear back from them.
#4: The software proudly states that it hasn’t had a losing trade in a long time. LIE! This software will trade your deposit RECKLESSLY and without a care in the world. Both the broker and The Profit Hack will be benefiting from your money if you deposit. The fact is there is no GENUINE system in the world which would say such a thing because of the unpredictable nature of the trading market. The Profit Hack doesn’t take into account financial market news and is just a stupid robot. Nothing more, nothing less so the likelihood of the software LOSING trades is VERY HIGH.
#5: Just like the ‘live webinar’, there is no ‘live’ chat as promised. Furthermore, the testimonials are also fake without any information given on the people who are praising the software. Just like other auto traders which have been exposed as scams, the interface and inner workings of The Profit Hack is the same. Also, when I tried to exit the sales page of The Profit Hack, I was faced with yet ANOTHER speech on how I am going to be missing out and that this ‘webinar’ is a one time opportunity which won’t come again. That’s funny, because if you press the ‘back’ page the same video starts again. Your attempts truly are PATHETIC Jake Saunders!
The Profit Hack Is A Silly Scam!
All of the above has illustrated that The Profit Hack is a certified Silly Scam. Don’t trust these scammers and their lies because you won’t see your deposit back. If you have deposited, speak to your bank immediately and let them know you have been scammed.
Also, I would love to hear from you if you have used The Profit Hack and your experiences, Like always, feel free to drop me a comment if you want to speak about whether a particular program is a scam. You can also contact me at email@example.com
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