Secret Money Vault makes a compelling offer to help you profit from the market’s discrepancy. Can they be trusted? More importantly, is Secret Money Vault a scam? Let’s find out in our Secret Money Vault review.
Name: Secret Money Vault
Owner: Tony Pearce
Price: $250 min. deposit
Legitimate? NO, IT’S A SCAM
(full list of all reviewed scams)
Secret Money Vault Review
No credit card details required? We shall see.
Like many other binary options software sales pages out there, Secret Money Vault scam starts off with an enticing fake promise to quick riches. Tony Pearce says that if you’re not earning more than $850 a day, you should listen to what he has to say.
Firstly, Tony wants you to imagine a life where there is no money stresses, a life where you can take vacations and tour the world whenever you want. In short, Tony is feeding you some wild imaginations before he starts his sales pitch.
Don’t be fooled, as Secret Money Vault is nothing more than a binary trading software scam.
What is Binary Trading?
Before we continue with the review, let’s talk about binary trading briefly to make sure everyone is on the same page.
Binary trading is basically trading stripped down to its simplest form. Instead of reading up financial news and analyzing market movements, with binary options, you only predict if the price of an asset will rise or fall after a short period of time, usually between 30 seconds to minutes.
There can only be 2 outcomes – either you are right, or you are wrong (hence the name binary options).
This is how it works – for example, I predict that the price of gold will drop 5 minutes from now, and I bet $50 on a 5-minute contract. When the contract expires, and the price is indeed lower, I win and I earn a certain percentage of what I bet, let’s say 60% ($30). However, if I’m wrong, I lose the entire $50 that I bet.
To put it simply, trading binary options is not that different from gambling. There’s no good way to predict the market’s movements in such as short period of time. How do you guess the outcome of a coin toss? You depend on luck and gut feelings.
The same goes for binary options. Even if you manage a 50% win rate, you’ll still lose money due to the uneven winning vs. losing payout of binary options.
Please note that we do not recommend binary options if you want to make serious money online. There are simply better alternatives out there that are much more promising than trying to gamble your way to wealth.
How Does Secret Money Vault Work?
Back to Secret Money Vault scam.
After feeding you some unrealistic expectations, Tony Pearce claims that he has created a fully automated system using his knowledge on servers to intercept raw market data and analyze them, predicting the market movements before they actually happen, and take advantage on it.
Wow. To be honest, this is one of the better crafted binary trading software scams out there. And I’ve reviewed tens of them. I can see why people are falling for his scam, because it sounded reasonable to me for a second too.
But when you think about it, it doesn’t quite make sense.
The market movement is comprised of the decisions of thousands of traders, buying and selling all at the same time. Therefore, trade prices fluctuate multiple times a second based on thousands of buy and sell instructions, making it impossible to “intercept raw data” and interpret it into a buy or sell signal.
The “raw data” is what moves the market. By the time you consolidate all the data and analyze them, the market has already made its move.
More Evidence That Secret Money Vault is a Scam
Tony Pearce goes against his words in Secret Money Vault disclaimer
(click to enlarge)
Despite showing you the prowess of Secret Money Vault and its ability to predict market movements beforehand, Tony Pearce and Secret Money Vault have some secrets hidden inside the disclaimer.
If you can’t read the text in the image, let me spell out the critical terms here:
- Information contained in this product are not an invitation to trade any specific investments.
- Trading requires risking money in pursuit of future gain. That is your decision. Do not risk any money you cannot afford to lose.
- The trades have not been executed.
From the disclaimer, we understand a number of facts about Secret Money Vault scam:
- Despite coercing you to use their software, Secret Money Vault denies inviting you to trade any specific investments.
- Despite promising you guaranteed profits, you are on your own if you lose all your money.
- NO TRADES have been executed using Secret Money Vault system. All results shown are hypothetical.
The last fact alone should be enough to alert you to steer clear of the scam.
Why does Secret Money Vault includes such terms in their disclaimer? It’s to protect themselves from legal actions when you lose all your money using Tony Pearce’s system.
Despite the way he sugarcoats binary trading and the guarantee he provides in the sales materials, Tony Pearce and Secret Money Vault will not be responsible when you lose all your money.
Why Does Tony Pearce Promotes Secret Money Vault?
I was assigned to RBOptions, one of Secret Money Vault’s affiliated brokers
You may wonder why Tony Pearce makes so much effort to promote Secret Money Vault only to give it away for free.
Firstly, if you decide to use his software and register for a broker account through the sales page (which is an affiliate link), Tony Pearce will earn a sum a referral fees as soon as you make your first deposit.
You will need to deposit at least $250 before you can activate Secret Money Vault and let it trade for you, even though you were promised that “no credit card details are needed” in their homepage.
Keep in mind that you cannot use the software on other brokers, too. You can only use it on accounts opened with their affiliate link.
Not only that, Secret Money Vault will continue to make money off you over the long term. The team behind Secret Money Vault scam will earn a commission for every trade that the software makes for you.
The scary part is, Secret Money Vault software runs completely on autopilot. The trading frequency and trade amount is totally up to them. To put it simply, they can decide how much commissions to earn off you, as long as you still have money in the account and use their software to automate your trades.
Tony Pearce will profit regardless of whether you make or lose money, ALL ON YOUR EXPENSE.
Is Secret Money Vault a Scam?
YES, IT IS A SCAM. As we’ve said in the review earlier, we don’t recommend binary options trading as a way to make money online, at all. It’s not that different from gambling, and using an automated trading software is no different. You are essentially putting your hopes and entire investment in a piece of software that gambles on your behalf.
You are more likely to end up losing all your money than making any significant profit. If you have some cash to spare for entertainment, you may go ahead and try it out. But you’ll be better off spending it on a nice dinner with your loved ones.
If you are determined to make money online, you must use a legitimate program that will provide you proper trainings and help you build your own business. We have tried out many programs, and there is only one program we recommend to our readers:
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!