The Profits Algorithm is an interesting automated trading binary options robot which we now noticed to be a recycled and updated auto trading software. Before you become the next victim of the classic binary options scam, take a few minutes to understand what the The Profits Algorithm does, and how it works.
Sadly, if you already lost money using the The Profits Algorithm software, we can not help you, just help others by commenting below.
In general most of the scams operate in the same manner, and we have already discussed details of the scam here.
The Profits Algorithm Review
The Profits Algorithm is a white label robot. We have reviewed and warned traders on several cloned scam software that is re-branded and sold as a unique trading system.
In the case of The Profits Algorithm, it’s the same software that was used with 5 Binary trading system and other popular scams that try to fool traders with fake promises.
The Profits Algorithm Scam
When you look at the The Profits Algorithm website, you will see in the screenshot above that there are very few articles to read. You can only open account with your contact details (which is very dangerous) or login and activate the software.
There is no ability to see historical trades, or historical results. Nowadays, there are no binary option traders who use a software where they cannot see proof of performance or details about the robot.
Look at the most popular binary option robots that the majority of investors are now using, see here.
The original binary options robot was developed in 2014 and it is still existing. You can find it at OptionRobot.com. But they have cloned it and there are more than fifty software operating with the same rebranded platform. Most of this white label clones do not last more months before the shut down. The Profits Algorithm is among the active clone of these software being advertised at theprofitalgorithm.com. We noticed various red flags when we looked at the new website. Just to mention a few, We did not see any tangible detail about this software, and they gave us the only option of dropping our email and personal details. This ia extremely dangerous because you do that, they will follow you up with unsolicited mails and phone calls asking you to deposit with on their partners.
Fake Broker For The Profits Algorithm System
Did you know that a real binary options robot must be partnered with a licensed broker?
Many people are too busying visiting and believing anonymous website telling them to drop their contact details. They forget to verify that the trading account their were given. Most of these “get rich quick scams” work in conjunction with an unlicensed, offshore binary options broker. By using an unlicensed broker, you can almost be certain that you will never see your money again.
Always make sure you are using a robot affiliated to a legit broker, see genuine robots here.
The Profits Algorithm system uses Stern Option as their broker. This broker does not have a good reputation since they have been involved in a number of cases where clients accused them of misconduct or unethical behavior.
Stern Option is not a regulated broker, which means that all these complains can never be addressed. But it is also not a coincidence that the owner of the Profits Algorithm system is teaming up with them so that they can run a business. Why is that so?
The simple explanation is that each time they refer a client to Stern Option, they get a commission. They have to refer as many clients as possible to enrich themselves at the end of the day.
So this is essentially the main business that The Profits Algorithm system is interested in. Not the other way round.
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Review Verdict – The Profits Algorithm is a Scam – Stay away
TopratedBinary urges all investors considering automated trading in binary options to check they are dealing with a robot that is partnered with a licensed broker.
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