Trading robots are all the rage these days, and for good reason. If you can get your robot to make you trading profits, there's no reason to dedicate time and effort to the process. You simply push a button and make a profit. However, many of these robots prove to be scams, and unfortunately, we've come across yet another. Automated Financial Markets is a push button scam designed to lure you into a trap of losses and fraud. Here are the signs that we found that suggest that Automated Financial Markets is a scam.
Scam Sign #1: The Platform Is Similar To Option Robot
A common scheme among push button scam artists is to put a scam up, and when that scam is found out, use the same technology to launch yet another. That seems to be the case in this scenario as well. In our investigation, we found that Automated Financial Markets is eerily similar to Option Robot, a scam that we have written extensively about in the past. Because of the similarities we saw, it would be no surprise to learn that the con-artists behind Option Robot are the same con-artists behind Automated Financial Markets.
Scam Sign #2: Dishonesty Seen In Demo Account
Demo accounts are generally used to show the functionality of software used by binary options robots. In general, these accounts use live data to show just what is possible when using the system. However, that didn't prove to be the case when it comes to Automated Financial Markets. While the push button scam does offer a “free play” demo in which virtual data gives the user an idea of what to expect, that data is not true.
The reality is that the demo account uses high success rate scenarios under simulated market conditions. Nothing about the demonstration would actually happen in real time with real money. Ultimately, the dishonesty in the demo account itself shows just how much of a scam this system is.
Scam Sign #3: Indicators
On the home page of the Automated Financial Markets website, the con-artists behind the scenes claim to use various indicators that allow the robot to earn profits for the trader. However, nowhere on the website does the company offer information on just what these indicators are. While the demo account allows potential victims to turn the supposed indicators on and off, there is no evidence that the indicators actually work, or even that they actually exist.
Scam Sign #4: Partnered Brokers
Push button scams often make their money by partnering with shady brokers. The idea is that through the push button scam, bad trades are made, causing the trader to lose money. That money is then considered a sale, in which percentages of the profits seen by the shady broker become a commission for the con-artists behind the push button scam.
When signing up for an account at Automated Financial Markets, traders are automatically assigned the broker Stern Options. Stern Options is a relatively new broker, but it seems to have taken no time at all for the broker to build up several negative reviews. This mixed with the fact that the broker is unregulated shows that Automated Financial Markets ultimately pushes traders to work with a broker that isn't worthy of trust.
After a thorough review of what is offered by Automated Financial Markets, it didn't take very long to figure out that the push button system is nothing more than a scam. With evidence that the scam is linked to yet another scam we have uncovered in the past, as well as a broker that seems to be far less than savory, there's no reason to even consider working with the scam. This, combined with the fact that blatant lies are found on the website and in the demo account should be clear warnings to stay away from this scam!