High Frequency Trader is another generic binary trading software that promises to make its users thousands of dollars daily profits. I’ve reviewed many other similar frauds, and today I add High Frequency Trader scam to the list.
3 of my readers reporting making a loss of at least $250 within 1 day of activating the system. Therefore, if you are still considering to go for it, make sure you read this High Frequency Trader review before funding your account.
Name: High Frequency Trader
Price: $250 min. deposit
Legitimate? NO, IT’S A SCAM
(full list of all reviewed scams)
– Member testimonials in this scam are fake
– “Live Trades” table is generated with computer script
– Trading accounts of victims are depleted in 12 hours
– The software makes money from your trading losses
High Frequency Trader Review
An auto-trader that makes $9,838 daily profits guaranteed?
High Frequency Trader is one of those online scams that lure curious internet users into thinking that there is free money to be made online.
You may have been introduced to the sales page via a shady email, a random pop up while you were browsing the internet, or a shiny side banner on some websites.
These are all advertisements, and people who refer you to the scams get paid if you sign up and fund your trading account. Be extra careful if you find opportunities that sound too good to be true on the internet.
Unfortunately, one of my readers fell for the scam nonetheless, and sent me an email after losing all of her trading deposit within a night:
My reader who lost all trading fund within a night
Once the funds have been lost, it is not recoverable because it’s lost in poor trades.
While High Frequency Trader scam may promise you guaranteed profits, binary options is actually one of the most risky investments out there.
The odds of you making consistent profits is not better than gambling in casino, and it’s so risky that even Forbes warned us against gambling on binary options.
With that said, there are actually ways to tell if an online opportunity is a scam without having to pay for it. Let’s look at some evidence to show that High Frequency Trader is a scam.
High Frequency Trader Fabricates Member Testimonials
Member profiles are fabricated with stolen pictures
Due to the high number of fake profiles used in online scams, I make it a point to conduct a background check for every member featured in High Frequency Trader to make sure they are the real deal.
Since the only identifiable feature of these members is the profile pictures, I conducted a reverse lookup based on these pictures.
Unsurprisingly, all of the members above were fabricated using stolen pictures from all over the internet.
Interestingly, one of the members “Michael S.” was fabricated using the picture of a famous Greek personality called “Kortas Martakis” (screenshot above).
There is no way he is called “Michael S.”, let alone making money from a piece of shady trading software.
This just shows that the scammers behind High Frequency Trader scam will go as far as to fabricate fake profiles and lure their victims into signing up for the scam.
The App Was Still Trading on a Non-Trading Day
High Frequency Trader making profits even when the market is closed
If you have traded binary options before, you would know that the market is closed during the weekends, just like the stock exchange and the Forex market.
In other words, you can’t perform any trades on Saturdays and Sundays.
However, according to the “Live Trades” table displayed on High Frequency Trader website, the system was still making profits on 9 Oct 2016, which was obviously a Sunday.
There is only one explanation to this phenomenon – the “Live Trades” table is once again, fabricated to confuse victims.
It is actually generated using a computer script that pairs up the current date and time with random asset groups and profits to make people think that its generating real trades.
There are no real trades and profits behind these numbers. Don’t be the next victim who is convinced by this common fraud tactic.
How Does The Scam Make Money Off You?
If you decide to sign up for High Frequency Trader 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 High Frequency Trader 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?
HIGH FREQUENCY 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 let us know in the comments below if you have any personal experience to share!