Passive Income Bot Scam Review!!
Passive Income Bot is a trading robot designed for the binary options market by Carl Razinski. The robot promises a great deal of money to traders who choose to use it. We decided to investigate the passive income bot after we saw the claims made by the creators of the robot. The amount of money promised might sound attractive to most traders but it is bait to get them to deposit money. In our Passive income bot review, we came across a number of suspicious elements which we will expose in this review post.
The binary options market is profitable but you will not make the kind of money promised by scams we have been in this industry for a long time and can tell a fraud from legit sites. Most of the scammers in this industry design robots that lose trades. They create websites to market the robot and use all kinds of absurd promises. They know that new traders will not research or understand what goes on in this market. This is why they use boatloads of income to attract them. This explains why it is important to read the passive income bot review before you decide to deposit your money.
Why We Think Passive Income Bot Is A SCAM
There are many clues that point to the robot being a scam. First, the website has some obvious incomplete sentences and grammatical errors. When you are dealing with something as serious as binary options trading or the financial market, you need to make sure the site is flawless. This includes proofing the content. The errors just indicate that the people behind the scam created the website hurriedly and are not keep on what they are doing. If the site was making the amount of money claimed, then we would expect the owners to invest in a professional programmer and marketer to manage the passiveincomebot.com.
Who Owns Passive Income Bot?
On the passiveincomebot.com website, you will meet a man who claims to be the CEO of Passive income. He says his name is Carl Razinski but we can see right through this tactic. In most of our review scam investigations, we have come across many scammers that use actors. They get these actors from sites such as Fiverr.com at an inexpensive rate. They use these actors to remain anonymous because they do not want to be exposed or connected to the fraud. This guy is just an actor. Here’s the website where these scam producers stole the photo from –> Original Photo.
How Does The Passive Income bot Work?
On the website, you will get information that the robot works using something they refer to as WSMT Algorithm. As the video progresses, you will find out that WSMT stands for Wall Street Master Traders. Our investigators searched for this magic algorithm but it seems like it is non-existent. The only place you will find this bot is on the video. If the algorithm the robot is supposed to use is not real, how can passive income be legit?
The system is allegedly based on the stock market but the truth is that it is in the binary options market. The traders in binary options who are successful do not have any magical algorithm. It is all about strategies and some luck. Most traders learn the trade through other successful binary options traders by following them. The robot also uses what is referred to as a margin, in this trade, the passive income bot will be lending money to traders for their trades. If you lose, and this is all you will do, they can claim any of your assets and you will have to pay the amount they lend you.
You will get information that the robot is free to use. However, you will have to deposit money to a broker account. This account is not named and is allegedly managed by a third party. The problem is that you will not know whether the broker used by Passive income bot is regulated and licensed. There is a disclaimer on the passive income bot site that suggests that the broker is not regulated. This simply means that if you happen to lose all your money fraudulently, there will be nowhere to report the incident.
How Much Do You Stand To Make?
Allegedly, traders will make between $1500 and $5000 using Passive income bot. This might seem like a good amount of money but it is a big lie. If you have been in the binary options market, then you know that making this amount of money is impossible. This is especially if you are using the minimum deposit of $250 and an auto trader. The reason scammers use this kind of income promises is to attract traders. They know that people want an easy way to make money and they take advantage of this fact. Understanding the binary options market will make sure you do not fall for such lies. This is because you will understand the amount of money you can make per day.
Testimonials and Endorsements
For a robot run by people that will harass you to get their money back, you cannot expect any positive testimonies. We did not find any positive passive income bot review or any testimonies in support of this bot. There are also no endorsements and this means it is a scam.
Passive Income Bot Review Scam Conclusion
This scam software is designed to steal money from honest traders. If you want to join the binary options market, learn its basics first and use demo accounts. In the meantime, stay away from passive income bot because it is a SCAM. More scam systems review that are losing money for the traders – HFT Finance, Profit Replicator App!
Amongst so many rotten scam app, we are lucky to discover few trading platforms that makes decent profit. Penny Millionaire was launched last week. Based on our experience we have tested and documented the performance of this software – check out these LIVE Trading Result and Profit videos. Clicking the banner will provide details on Penny Millionaire.