Optical Signal Trader introduces itself as a fully automated binary trading software that makes $3,000 a day, but can it be trusted? Is Optical Signal Trader a scam?
Just 2 days ago, my readers revealed that they have lost between $250 to $500 each to the trading software, and it prompted me to launch a detailed investigation into the system. Check out my findings in this Optical Signal Trader review.
Name: Optical Signal Trader
Owner: Dominic Shepherd
Price: $250 min. deposit
Legitimate? NO, IT’S A SCAM
(full list of all reviewed scams)
– OST was not featured in news
– OST generates fake trading results
– Users of OST experience huge losses within 24 hours
– The software makes money from your trading loss
Optical Signal Trader Software Review
Optical Signal Trader is a classic push-button software scam
The alleged founder of Optical Signal Trader, Dominic Shepherd claims that his software makes a guaranteed $3,000 a day from the options market, thanks to the advanced technology used in his system.
You would imagine paying a hefty sum for a miracle software like this, but Dominic surprised everyone when he revealed that the software is completely free.
This is a MAJOR red flag that you should take note. Online scams, or any scam in general make an irresistible offer to lure their victims into signing up.
In this case, Optical Signal Trader claims to give you the free software so you can make a guaranteed $3,000 every single day. This is what happens if you take up the offer and sign up for it:
My reader who lost $400 to the software in just 1 day
Another reader of mine reported a similar experience, where she sustained a trading loss of $150 in just 1 day. Her trading account went from $250 to $103 within 24 hours.
In this case, my advice is to stop trading immediately and request for a refund. Salvage what’s left of your trading fund. Don’t hang on to it thinking it will eventually make you money, because it won’t.
Optical Signal Trader Wasn’t Featured in News
Did you ever wonder if these websites really endorsed the autotrader?
I’ve seen many cases where push button software scams use reputable financial websites to promote themselves.
Recent examples are AlgoMaster app and Terabit Trader system, where they claim to have been endorsed by financial sites such as CNN and WSJ, much like what Optical Signal Trader is doing with their software.
Upon investigation, it has been proven that these financial websites have never mentioned any of these binary options software, much less endorsing them.
In fact, binary options is so risky that Forbes wrote an article to warn us against gambling with binary options.
Fortunately, these financial websites provide a simple search tool for us to look for certain keywords that appeared within their huge collection of articles. I tried to search for “Optical Signal Trader” in the websites featured above, and here’s the results:
The software was not mentioned in any of the sites
It is clear that none of these websites has mentioned nor endorsed Optical Signal Trader, unlike what is quoted by the scam.
Apparently, the scammers behind this software fabricated the quotes and abuse the names of these reputable financial websites to appear legitimate.
The “Live Trades” Shown by OST are Fake
Optical Signal Trader generating trades when market was closed
If you have traded binary trading software, you would know that the market is closed during the weekends, much like the stock exchange or the Forex market.
In other words, you cannot make trades on Saturdays and Sundays since there is no market activity.
However, a close observation on the trading table on Optical Signal Trader website showed that the software was still making profits on 1 Oct 2016, which was obviously a SATURDAY.
Again, this is not a new scam tactic, but a rather common technique used in binary options scams to deceive inexperienced victims. It was used in a fraud I reviewed recently, called the Gemini 2 trading software.
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 experience heavy losses, because the real performance of the software isn’t as good as what is shown in the “live trades” table.
OST Scam Hides the Truth in Disclaimer
As much as Optical Signal Trader wants to keep you in the dark, they have to reveal the true nature of the scam somewhere within their website. This is to protect themselves from lawsuits and legal actions.
You can’t find the disclaimer anywhere within the sales material, because it is supposed to be hidden from you. The only way you can access it is through the small fine print found at the bottom of their sales page.
The truth is well hidden in the disclaimer
(click to enlarge)
Check out the original disclaimer at this link websiteterms.co/OST if you want to make sure the screenshot above is authentic.
I’ve underlined the important terms in red, but allow me to reiterate and analyze them below:
- OST allows its users to trade in highly speculative investments which involve a significant risk of loss.
- Due to the high risk nature of trading, ‘OST’ explicitly does not make any express or implied warranties or guarantees that user will make any profit or that user will not lose any or all deposited investment funds.
- 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.
We can understand a number of truths about Optical Signals Trader scam just from these few terms alone:
- Using OST is far from guaranteed. in fact, it engages in extremely risky, speculative investments.
- Self explanatory – Contrary to what they promise in the sales materials, OST scam does not guarantee you any profit. Not only that, you will most likely end up losing ALL of your deposited investment funds.
- Again, OST scam admits that 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.
Apparently, what Optical Signal Trader revealed in the disclaimer document is totally different from what they have promised in the sales material.
Always read through the terms and conditions if you find an online opportunity sounds too good to be true. There are always some hidden caveats.
How Does The Scam Make Money Off You?
If you decide to sign up for OST 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 OST 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?
OPTICAL SIGNAL 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!