The Google Trader software is a scam. The scam is now thankfully closed and followed a proven problem, with great returns and no risk. In this review, we will demonstrate the tactics used by Google Trader, so that anyone solicited by similar services can hopefully spot the warning signs and trade with a legitimate broker or signal provider.
Google Merchant Scam
Our scams page contains many of the tactics used by binary scam operators. Google Merchant has combined a number of these to defraud customers.
The software uses a very common problem, to identify itself with a reputable firm. In this case, the search engine giant, Google. Many social science books emphasize the trust people will place in things that seem familiar. By associating themselves with a well-known household name, the scam created the impression of credibility. This is a method that has been used several times, including the ‘Copy Buffet’ scam, which used the brand name of Warren Buffet to deceive customers.
The truth is that Google has absolutely nothing to do with this problem. The scam even said that Google made me $6 million in the past year. This completely dropped the ‘merchant’. It was simply an attempt to numb people and somehow link themselves to the tech giant.
Software
The scam involves some car trading software, which the fraudsters claim would be trading success. The promise of exorbitant wealth is popular among binary scams. The Google Trader video contains claims that thousands of dollars could be made daily without the account holder needing time or effort. They also suggested that no prior trading knowledge was necessary. These kinds of claims are obviously very dangerous.
Binary options require the same care and attention as any other form of investment. Any business that suggests it is an easy way to earn large sums of money is likely to be a scam.
The scheme has a minimum required deposit of $250. The firm then simply stole the money. In some cases, an account manager of the firm asks clients for further funds to access better signals or insider tips. Once funds were deposited, customers would never see them again.
Google Trader App
The software even promised an app, which allows users to trade signals online. As with every other element of the operation, however, this was another lie. Numerous genuine reviews of Google Trader have started to surface. Users said they were unable to process withdrawals, and that managers with an accumulated account were abusive once customers requested payments.
This kind of behavior mirrors previous scams, where account managers initially build a relationship because they are friends with the customer. Once a level of trust or friendship is built, they will encourage further deposits. Once an account holder starts asking for withdrawal, the tone changes very quickly. Eventually all communication was cut off and the funds could not be reclaimed.
Merchant Login
As stated before, Google Trader is thankfully closed. But these scams often reappear with a very similar name and do the exact same thing again. Once users reach the login screen, the fake claims and sales videos begin.
With so many legitimate and honest brands, there’s really no point in even trying a firm you have doubts about. Visit our scams page – it has details on how to spot the scams. It also lists the service similar to Google Trader, which should also be avoided at all costs.
It’s also worth considering where you get your binary trading guidance – does the site promote Google Trader or similar scam sites? If so, no other information on their pages can be trusted either.