Onassis by Jed Onassis positions itself as a fully automated profit software, but is the system as good as it seems? If you have doubts, this Onassis review will reveal everything you need to know and make an informed decision for yourself.
Owner: Jed Onassis (fake name)
Price: $250 min. deposit
Legitimate? NO, IT’S A SCAM
(full list of all reviewed scams)
• Onassis is an automated binary trading software
• It partners with unregulated brokers to scam victims
• Victims typically lose all deposits within hours
• Fraud evidence can be found from their sales material
Typical hypes by online scams
One of the hallmarks of an online scams is the hypes and fake promises that surround them. It’s their way of grabbing people’s attention, and it has worked for decades.
Onassis software certainly fulfills the criteria. In the homepage alone, it’s been mentioned multiple times that you’ll make $625 per hour, or $7500 a day using their system. Best of all, the profits are 100% guaranteed.
While the software is being advertised as completely free, apparently it isn’t the case. If you register to use Onassis, you’ll be required to deposit at least $250 to get started.
At least $250 deposit is required to get started
This is where they get your money. It doesn’t come in the form of payment, but in the form of trading deposit.
I have readers who unfortunately fell for Onassis scam and deposited $500 to get started. This is what happened to his account:
More than $350 lost in just 1 day
Once you authorize the software to trade on your behalf, you will have no control over the trades it makes. These systems typically engage in multiple trades simultaneously and lose majority of them.
Unfortunately, there’s no way to request for a refund. Money lost via auto-trading is considered trading loss, in the same way money is lost in stock exchange or the Forex market.
What is Onassis All About?
Onassis is a generic binary trading software designed to trade binary options on your behalf. Binary options works like traditional gambling, and it’s in itself an extremely risky trading instrument.
When you sign up for an account with Onassis, you are actually registering for a trading account with their partnered brokers.
As mentioned above, you’ll need to fund at least $250 to start trading. Joe Onassis emphasizes that it’s not a payment in order to lure you into funding the account.
Once you activate Onassis software, it will generate trades for you automatically, but most of these will be losing trades. The system is designed to favor the brokers, where the risk to rewards ratio is skewed against the traders.
For example, you are required risk $50 for a chance to win $30. Assuming you win half the trades, you will still lose money in the long run. This is why victims typically lose all their deposits within hours of activating the software.
These losses are pocketed by the broker, which is then shared with scammers behind Onassis software.
This is a simplified diagram on how the scam works:
Victims’ money is lost to unregulated broker and scammers
Even though you don’t pay a cent to use the software, the scammers make money off you in the form of trading deposits. There are hundreds of similar “click-profits” software out there, so make sure you stay vigilant and don’t get scammed.
If you are serious about making money online, try to learn the proper method and educated yourself on how affiliate marketing works. There is a learning curve and you’ll need to work for it, but it beats losing money to scam after scam.
On a bright side, you don’t have to pay a hefty price to avoid frauds like this. Here’s some of the common fraud tactics that appeared in Onassis, keep a lookout and you’ll be able to avoid similar scams in the future.
Fake Live Trades Table
Onassis was generating profits on a Saturday
In their website, we can see a live trades table showing live profits generated by the software in the last 24 hours (screenshot above).
But if you look closely, you’ll see that the trades are generated on 2016-11-12, which was obviously a Saturday.
However, binary options market is closed on weekends. In other words, there is no way to trade on Saturdays and Sundays.
So how did Onassis generate profits after profits on a Saturday? Apparently, the “live profits” are purely fabricated.
The table was produced using a computer script that matches a series of dates to random currency pairs and profits. There are no real trades behind these profits and numbers.
This also explains why real traders who signed up for the software experienced heavy losses, because the real performance of the software isn’t nearly as good as what is shown in the “live trades” table.
Fake Timer Used to Force Victims into Action
Who would’ve thought the timer was fake?
Once you provide your email address to reserve a spot, you’ll be given 30 minutes to complete your registration.
Granted, it’s not as bad as 5 minutes given by some other online scams, but it’s still designed to force victims into actions. It’s a marketing technique used to make you think you can’t miss the chance.
There’s an easy way to find out if a timer is genuine. While you are on the page, remember the time remaining on the timer and hit F5 to refresh your webpage. No matter how much time was left, the timer will be reset to 30 minutes.
Theoretically, you can extend the time limit infinitely. It’s actually just a pre-programmed timer set to countdown every time the page is loaded, since there are no limited spots to Onassis scam.
So, What Now?
ONASSIS 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!