Cloud Track Trader by James Christian claims to be a trading software that can make you $1,250 a day, but don’t be fooled. It’s a generic binary trading software scam, and I’ve had multiple readers who lost between $250 to $500 to it. Read the full review for details.
Name: Cloud Track Trader
Owner: James Christian
Price: $250 min. deposit
LEGITIMATE? NO, IT’S A SCAM
(full list of all reviewed scams)
Cloud Track Trader Review
Cloud Track Trader is NOT a 100% strike rate software
In the sales video, the alleged founder of Cloud Track Trader, James Christian claims that his software is the first 100% strike rate trading software that can generate $1,250 daily profits for its members.
By 100% strike rate, it means that his software will never make a losing trade at all. As amazing as it sounds, it is just a blatant lie to lure victims into the fraud.
Unfortunately, I had readers who fell for the trap and lost close to $400 in a single day:
Almost $400 lost in a single day
Unfortunately, money lost with Cloud Track Trader software cannot be retrieved. It’s considered trading loss, just like you can’t recover losses lost in bad trades.
Victims can only hope to withdraw what’s left in the trading account, which is often just a fraction of the initial deposit.
What Exactly is Cloud Track Trader?
Cloud Track Trader is an automated binary trading software that places trades for its users on autopilot.
Just as the name suggests, an auto-trader uses a software algorithm to trade binary options for its users. In other words, you can activate the software and leave it alone, and it’ll still generate trades for you automatically.
While it’s a good thing to remove emotions from trading, these auto-traders will never generate any profits for its users.
For one, binary options itself is an extremely risky trading instrument, so much so that Forbes warned us against gambling with binary options.
Yes, Forbes used the word “gambling”. In fact, more than 90% of binary options traders lose money due to the nature of the trading instrument.
Traders buy short term contracts that have about 50% chance of losing or winning. Let’s say a trader buys a $100 contract:
- If he ends up winning, he can pocket a $60 to $80 reward.
- If he ends up losing, he losses the entire $100 that he bets.
The odds are clearly against the traders. Will you bet $100 in a coin toss game to potentially win $60 to $80?
Even though software like Cloud Track Trader claims make guaranteed profits for you, it is actually generating random trades for you and make money from your losses. Don’t fall for the scam.
I’ve gathered a few evidence to show that Cloud Track Trader is a scam, so here goes.
“James Christian” is Just an Actor
The same actor was used to promote Cloud Trader scam
Let’s start with the alleged founder of Cloud Track Trader software, “James Christian”. He was actually hired to promote a previous scam using the identity of “Matthew Shepherd”.
In fact, Cloud Track Trader is just a re-branded Cloud Trader scam that I have reviewed earlier. They have reused pretty much all the sales material, save for the slightly different sales video with the same actor in it.
Similar to Cloud Track Trader, the previous Cloud Trader scam promised to make its users at least $1,250 daily profits. The result? It has became an infamous junk software that losses money for its members.
To prevent new victims from finding out the previous bad reviews, the scammers had to change its name and re-brand it into Cloud Track Trader that we see today.
Fake Social Testimonials Used to Trap Victims
The social testimonials shown are purely fabricated
In Cloud Track Trader’s website, there’s a section where they show what seems to be genuine Facebook and Twitter feeds about the software.
Each and every of these posts give a positive review for the software. Most victims take it as real feedback from existing users, but it’s actually just another trap laid down by the scammers.
Try clicking on any profile or link within the posts and tweets. You’ll realize that unlike real posts, you can’t interact with any of the posts displayed in Cloud Track Trader’s website.
There isn’t even a cloudtracktrader account on Twitter! This is actually just a wall of text formatted to look like Facebook posts and Twitter tweets. None of the profiles and comments is real.
If you want to verify the authenticity for yourself, you can look for any of the names shown in the page on Facebook or on Twitter. You won’t find anyone with the name and matching profile picture.
How Does The Scam Make Money Off You?
When you register on Cloud Track Trader website, you are actually registering for an unregulated broker account, which is affiliated with Cloud Track Trader.
Once you fund your trading account with at least $250, the software starts making automated trades on your behalf.
However, it is just a generic binary trading robot that make random trades for the users. Victims typically lose all their deposits within hours of activating the software.
The losses are pocketed by the broker, which is then shared with its partner-in-crime – the scammers behind Cloud Track Trader system.
In the end, victims who sign up for the scam lose all their deposits in this complicated fraud, while the scammers make a handsome profit with the trading fund.
So, Is It Possible to Make Money Online?
CLOUD TRACK TRADER 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 write it down in the comments below if you have any personal experience to share!