Aurum Tech by Marco Shoemaker is yet another binary trading software that promises to make you rich (there are hundreds of other systems claiming the same thing out there, but none of them worked).
So is this software any different? In this detailed Aurum Tech review, I’ll go through the REAL inner working of the software and the industry, and reveal a few evidence along the way to prove that Aurum Tech is a scam.
Don’t sign up before reading the full article!
Name: Aurum Tech
Owner: Marco Shoemaker
Price: $250 min. deposit
Recommended? NO, IT’S A SCAM
(full list of all reviewed scams)
Aurum Tech Review
Is Aurum Tech really legitimate?
I’m not sure about you, but as a reviewer that debunks scams on a daily basis, I’ve seen frauds like Aurum Tech far too often.
They belong to a distinct section of the trading market, more specifically the binary options robot market. They sell dreams that promise huge wealth using what we call the “click-profit” software – where you make huge profits just by activating an automated software.
And more often than not, these software come completely free. You don’t have to pay a cent to use them, and they will supposedly generate free money for you.
The whole deal sounds extremely ridiculous, but unfortunately there are still hundreds of people falling into the same old trick every single day.
In fact, I’ve reviewed so many of these scams that I started to recognize the actors they use in these over-the-top sales videos. Take Marco Shoemaker as an example.
CEO of Aurum Tech is Just a Hired Actor
“Marco Shoemaker” isn’t the real deal
The man who is allegedly the CEO of Aurum Tech software, “Marco Shoemaker” is the main character in this sales video.
Interestingly, there are no information about Aurum Corp. or even Marco Shoemaker in the binary options industry. In fact, Aurum Corp. isn’t even a registered company.
There’s when I realized I’ve seen this man in another scam that I’ve reviewed previously.
The same actor was featured in Mirror Trader scam
You can read the review of Mirror Trader scam here. In that scam, he identified himself as “John Harrison”.
Of course, he is neither Marco Shoemaker or John Harrison. These are just the identities that he assumed to promote these scams.
The scammers know that putting up a professional front will make their fraud appear more legitimate, so they often hire actors to present their scams. Don’t fall into the trap.
What’s the Motive Behind Aurum Tech?
The motive of Aurum Tech may seem puzzling at first. They are giving away the software for free, and you don’t have to pay a cent to use it. So what’s the catch?
Well, the catch lies in the trading fund that you need to deposit to activate the software. Aurum Tech is a trading software, so naturally you will need to put a deposit to start trading. And this is where they get you.
When you sign up for the app through Aurum Tech website, you are actually signing up for a trading account with their partnered broker. Once you get an account, you will be told to deposit at least $250 to get started.
The broker will tell you that it’s just a starting capital, and you will make much more money in no time at all. However, once you deposit money and activate the software, you will experience a series of losses and your trading capital will be quickly depleted.
The software doesn’t work as advertised. Instead of making winning trades for you, it will generate a series of losses and you will lose all your money.
Where Does Your Money Go?
Illustration of how the scam works
This is a simple diagram to illustrate how the scam works. Aurum Tech (the scammer) convinces you to sign up for their software and register a trading account with their partnered broker.
The broker requires that you deposit at least $250 to get started. However, once you activate the software, your money are siphoned away in a series of losing trades.
Your losses go to the broker. Unlike the brokers of stocks exchange, binary options brokers don’t profit through trading commissions. They profit from the traders’ losses. On the other hand, your winnings come out from their pocket.
Now you understand that the binary options broker has a direct conflict of interest with the traders.
Of course, after the broker pockets your trading deposit, it is shared with their partner-in-crime, the scammers behind Aurum Tech scam that brought them their victims in the first place.
This is a complicated scam that involves underground dealing, and the traders that signed up for the software are the sole losers here.
Can I Sue the Scammers?
The FAQ of Aurum Tech promises huge profits
Some of my readers asked if they can sue Aurum Tech for the fake promises that they put up throughout the sales material. These readers quoted the FAQ section, where Aurum Tech promises huge profits with their software.
However, you have to understand that online scams are very hard to track. There is no way you can locate the true scammer behind the fraud, let alone taking legal actions.
They have lied about pretty much everything, including hiring an actor to pretend as the “CEO” of the non-existing Aurum Corp. Even if you can find the real perpetrators, you need to know that the sales material doesn’t have any legal power.
The true document that holds any legal power is the disclaimer (think of it as terms and conditions), and they have got it covered. Read the disclaimer below:
The disclaimer denies any guarantee of profit
(click to enlarge)
Of course, you can’t find the disclaimer document anywhere in their sales material, because it’s supposed to be hidden from you. You can only access it through a very small fine print at the bottom of their sales page, which reads “risk disclaimer”.
Even if you take the scammers to the court, there is nothing you can do when they are protected by the disclaimer document. It’s just like the hidden terms and conditions of shitty products.
The best way to protect yourself from future scams is to question the soundness of a business opportunity. Does it sound too good to be true? What’s the downside? Do I really understand how it works?
Don’t sign up for anything that you don’t fully understand. I’ve been scammed before, and I know it doesn’t feel good at all.
Bottomline: Aurum Tech is a Scam
AURUM TECH IS A SCAM. I strongly advise you to stay away from the scam if you don’t want to lose your hard-earned money.
You’ll be better off spending that $250 deposit for a nice dinner with your family than wasting it on a scam like this.
If you want to make money online, there are much better alternatives than trying your luck with binary options:
Have you encountered any online scams before? Personally I’ve fallen for a few before coming across the legitimate one, so let us know in the comments below if you have any personal experience to share!