Recently, I received 2 emails from my distressed readers who fell prey to Dream Catcher scam. They were promised to make $4250 per day with a trading software, but lost all of their deposits within 24 hours.
If you plan to fund your trading account, make sure you read this Dream Catcher review first. Save yourself from a financial headache and learn to avoid future scams.
Name: Dream Catcher
Presenter: Matthew Warner
Price: $250 min. deposit
Legitimate? NO, IT’S A SCAM
(full list of all reviewed scams)
– Dream Catcher is not a survey at all
– The Live Trades table shown is fabricated
– $88 free profits generated for you is fake
– The software makes money from your trading losses
Dream Catcher Review
Matthew Warner promises to make you $4250 every day
Can you tell when you spot a scam online? There are thousands of different scams on the internet, and Dream Catcher is most likely not the first one you have came across.
Firstly, Matthew used an obvious lie to lure you into listening to his sales pitch. He promises to make you $4250 just by taking part in a survey, and he got the attention of many curious internet users.
However, if you follow the presentation to the very end, you’ll realize that there is no survey to be taken, and no rewards to be claimed. You are simply led to sign up and fund a binary options trading account.
Take a look at the email sent by one of my readers, who unfortunately fell prey to the scam:
Victims lose trading funds within 24 hours
Unfortunately, once the money is lost, it cannot be recovered because it’s lost to the market.
I’ll go into more details about how the software steals your hard-earned money, but first I have some evidence to show that Dream Catcher is a scam.
Dream Catchers Scam Uses Fake Profits Table
How did Dream Catcher trade on a Sunday?
Anyone who has traded binary options before would know that the market is closed on the weekends, much like the stocks exchange and Forex market.
In other words, no one can trade binary options on Saturday and Sundays.
This review was written on a Sunday (2 Oct 2016). I realized that the “Live Trades” table of Dream Catcher was still updating their real-time profits rapidly.
Apparently, there are no real trades and profits behind the numbers! This is just a computer-generated table used to deceive victims into thinking that the software really works.
It uses the date and time from your computer and pair up random profits to appear legitimate.
To prove my case, I changed my computer’s date to something ridiculous – 2 Oct 1980, exactly 26 years ago. This is what happens to the “Live Trades” table:
The table takes the date from your computer
You can try this method if you want to authenticate for yourself. Just change your computer’s date to something different and watch the “Live Trades” table adjusts itself.
One of my readers told me that he scoffed at the sales video for promising $4250 per day just by using an automated trading software. However, the “Live Trades” somehow convinced him into convert to a paying victim for the scam.
Don’t be the next victim to fall for this unscrupulous tactic.
Your Free Trading Profits are Fake, Too
The free “profits” generated for you are non-existent
As soon as you open a new trading account, you will be brought to a demonstration page where Matthew claims to make free profits for you, real-time.
He said that he deposited $50 into your trading account and generate live trades so you can witness the power of the software. He went as far as to promise you that the profits are all yours.
At this point, victims who eventually fall into the scam are totally convinced that the software is the best auto-trader ever. They disregard the big red flag that comes right after Matthew finishes his demonstration:
The real account balance stands at $0.00 despite “free profits”
After the demonstration, all victims who signed up to Dream Catcher scam are invariably brought to the real trading page, where they need to fund at least $250 to get started.
Despite the $88 “free profits” that Matthew has generated for you just moments ago, your account now stands at a grand total of $0. What happened to that $88?
The truth is, that was a fake demonstration. Matthew did not deposit $50 for you, and no trade has been executed. The $88 account balance simply does not exist.
Not only that, the broker’s name is completely different, too. In the demonstration, the broker will always be BDB (Banc de Binary). But in the real account, your broker will likely be different. For example, I was assigned to “Option.fm” broker.
Hidden Truth Within the Disclaimer
The truth behind binary options
Never once did Matthew speak of the risks that comes with automated binary trading software within the sales material of Dream Catcher scam.
You are led to believe that the software is guaranteed to generate $4250 for you, day after day. However, the truth is hidden in the disclaimer document, much like the hidden terms and conditions in bad products.
The disclaimer above was taken from my broker’s account, but it applies to all softwares that trade binary options, Dream Catcher included.
I’ve underlined the critical terms above, but allow me to write them down and interpret here:
- Trading in binary options is very speculative and highly risky… only for those investors who… are financially able to assume the loss of their entire investments.
- Only for those investors who… have the knowledge to understand binary options trading and the underlying assets and markets.
From these 2 terms above, we can understand the huge risks that come with binary options:
- Trading binary options is extremely risky, and it is only for investors who can stomach the loss of their entire investments.
- Despite promoting the software as fully automated and no experience needed, somehow it is only suitable for investors who have the knowledge to understand binary trading and its underlying assets.
Evidently, the guarantees given in the sales material and the so-called “Live Trades” are fake and cannot be trusted.
In fact, trading binary options is so risky that Forbes warned us against gambling with binary options.
How Does The Scam Make Money Off You?
If you decide to sign up for Dream Catcher app, you will be required to open a new broker account with their partner brokers, which are unregulated by monetary authorities.
Once you fund your trading account with at least $250, the software will be activated to generate 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 Dream Catcher system.
In the end, internet users like you and me become the sole losers in this complicated fraud, while the scammers make a handsome profit with our trading deposits.
So, Is It Possible to Make Money Online?
DREAM CATCHER 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!