Richard Sellars from The Cash Loophole claims that his software can make up to $1987 every 3 hours, but don’t be fooled. The Cash Loophole is a typical binary software scam, so make sure you read this in-depth review and make an informed decision.
Name: The Cash Loophole
Owner: Richard Sellars
Price: $250 min. deposit
Recommended? NO, IT’S A SCAM
• The Cash Loophole is a binary trading software
• It is affiliated with unregulated brokers to scam victims
• Victims typically lose their deposits within hours
• Fraud evidence can be found in sales materials
The Cash Loophole Review
Can you really make over $100k by pushing a few buttons?
Like many other online scams, The Cash Loophole uses hypes and pure exaggeration to pull its victims in. It has several classical red flags of an online scam, such as
- Unreal amount of trading profits (more than $100k in a month)
- Fully automated software (activate the software and it’ll do all the work for you)
- Unexplained methodology (how does the software REALLY make profits?)
- Free-to-use system (do you really believe there’s free lunch in this world?)
Richard Sellars claims that you were personally invited to view the sales video, and again this is just a marketing trick to get your attention. Thousands of victims are being scammed of their hard-earned money every single day.
Notice how Richard never really got down to explaining how his software works. All he does is to bombard you with video testimonials (which by the way, can be bought for $5 on Fiverr.com), and make empty promises that the software will work.
Of course, you’ll have to shell out a minimum of $250 deposit to start using the software, and this is where they get you.
Email from one of my readers who signed up for the scam
Of course, it will never turn around and make profits. I advised my reader to deactivate the software and withdraw what’s remaining in his account. His email prompted me to research the scam and to write this review.
I’m not proud to say that I’ve fallen into similar scams in the past before finding a legitimate online opportunity, so I don’t want me readers to do the same mistakes.
In the section below I’ll explain how the entire scam works, in order to give you a clearer idea of how to avoid similar frauds in the future.
How Does The Cash Loophole Work?
The Cash Loophole is actually a binary trading software designed to execute trades on your behalf. If you haven’t heard of binary options, it’s an extremely-risky trading instrument that sees over 95% of traders lose money.
It’s so risky that even Forbes wrote an article to discourage the public from gambling with binary options.
Think of it as a coin-toss game. You need to bet at least $25 for each trade, and you have a 50-50 chance of winning the trade. The catch is, you can only win between $15 to $20 for every $25 dollars that you risk.
In other words, even if you manage a respectable 50% win rate, you’ll still lose money due to the uneven winning vs losing payouts. In reality, most traders don’t even achieve a 50% win rate.
Simple diagram on how the scam works
You need to have a trading account to trade binary options, so you are actually signing up for an unregulated broker account when you register with The Cash Loophole. These brokers are partnered with the scammers behind the software.
After opening an account, you’ll have to deposit at least $250 to start trading. The software will trade for you automatically, but most of these will be losing trades. The system is designed to favor the brokers.
This is why the majority of trades lose all their deposits within 24 hours of signing up to the scam. All your losses are pocketed by the broker, which is in turn shared with their partner-in-crime: the scammers behind The Cash Loophole.
Even though you don’t need to pay a cent to use the software, your money is actually siphoned away through a series of trading losses.
The Motive Behind The Cash Loophole
Now that we understand how the scam operates, it’s clear that the purpose of The Cash Loophole is to convince as many victims to sign up as possible. This is how they make money through profit sharing with their affiliated brokers.
With this in mind, it makes sense for them to generate so much hype and fake promises in the sales video.
They are targeting people who want to get rich quick online, and they WANT you to sign up and FUND your trading account.
In the next section, I’ll reveal a few evidence to prove that the sales material of The Cash Loophole is a hoax. Meanwhile, if you are really determined to make a living from the internet, you should start learning how affiliate marketing works.
There is a learning curve and you’ll have to work for it, but it beats falling for scams over and over again. I’ve been there and it’s not fun at all.
Members of The Cash Loophole are Fabricated
Stolen picture used to fabricated fake members
You may have come across several member testimonials in the sales material, such as the testimonial of “Eric Allen” as displayed above.
A reverse image search proved that the man in the picture is actually “Gaston Bouvier”, and his picture was stolen from LinkedIn.
This man has nothing to do with The Cash Loophole scam, and he certainly did not make more than $100k from the software. It’s a common practice for these scams to produce fake testimonials in order to appear legitimate.
Don’t be fooled by these fake endorsements. No one has really made money with the software, this is why the scammers have to resort to using fabricated member profiles.
Truth Exposed in The Risk Disclaimer
The truth behind the sales video
As much as the scammers want to keep you in the dark, they have to reveal the true nature of the scam somewhere in their website to avoid lawsuits. Think of it as hidden terms and condition.
You can’t find their risk disclaimer anywhere in the sales material, because it’s supposed to be hidden from you. It can only be assessed through a small fine print that reads “Risk Disclaimer”, located at the bottom of their sales page.
Read their original disclaimer at this link: thecashloophole.net/risk-disclaimer
In the document, it’s clearly stated that ACTORS were used to present The Cash Loophole, which means that you can’t trust any of the video testimonials you see.
Not only that, they have retracted their profits guarantee and reveals that they do not promise your success. In fact, you are guaranteed to lose money with The Cash Loophole system.
So, What Now?
THE CASH LOOPHOLE 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!