Hundreds of binary options trading site come up online every now and then which turn out to be scams. This recent trend of looting money from people using scam sites are becoming a nuisance in the options trading market, and people still keep on falling into these traps and lose their money.
You must have come across well-known scam sites like the Oxford Method, the Aussie Method, and CANUCK method. Well, the next in line is the Cambridge Method. The Cambridge Method platform is doing quite the round recently on the internet and has been alleged as another new scam site which is draining money from inexperienced traders and newcomers in the market.
If you have stumbled into this site by any means and have decided to make some investment, then do yourself a favor, please go through this article. Here I will give you with information about the platform and put forward the proofs that lead to the conclusion that this platform is none other than a scam.
What actually is Cambridge Method?
The Cambridge Method is a software for binary options trading and is developed by a certain Mr. James Hockton who claims to be a Risk Analyst Manger in the London Stock Exchange for almost four years. And he also claims that after years of hard work he was able to develop the Cambridge Method software which ultimately made him a very rich man.
In the promotional video of the website Mr. Hockton explains how you can easily make money with the platform and even goes on to say that traders will be given access to use the software for free for six months after registration. Once a trader completes six months of the trial, he will have nearly have £10,000 in his account, and he will need to upgrade his account into a premium one with the deposition of £512 a year.
But this is quite contradictory to what the voice actor in the promotional video says that is the Cambridge Method platform is free. So what exactly is free here that he is talking about?
How the software works?
In the promotional video, the voice actor explains in the simplest way that the software will generate $10,000 a day and basically talks only about the outcome and not about the way how the platform actually works.
He did not explain the algorithm behind it neither the features nor the trading options that are available. In other words, he was just repeating the same thing again and again and making up a story to attract investors. There is nothing unique about it, and neither does the promotional video provide us with enough information about the platform’s technicality.
He simply says that the Cambridge Method is an automated trading software or robot designed to generate random trading signals that will guarantee you 97.56% success rates. Well for your information this is not how the Binary Options Trading system works, and the market is so competitive that not even well-known platforms would guarantee you that much percentage of success rate.
In other words, the Cambridge Method just like any other scam sites is a waste of time and energy, and it has nothing to offer. It is an exact replica of all the scam sites which make use of fake actors and fake stories and which you might have come across for hundreds of times.
What about License and Regulations?
The next big question is whether Cambridge Method is a licensed trading platform? As a newcomer trader, it’s your first duty to find out whether a platform is licensed or not. Not just newcomers but it’s the first duty of any trader.
There are regulating bodies like the CySEC which puts strict rules and regulations for trading platforms and almost all well-known platforms are licensed. Although there are also big shot platforms which have not yet gained license but they are not scams either because of their client-friendly services.
A licensed platform offers professional service as they are subject to various financial laws and official scrutiny. There are a number of famous licensed platforms that will offer you learning tools for trading, and I suggest you to do a research about it so that you can have a good start with your business.
These sites won’t give you the false idea of making you millionaires overnight but offer you with guaranteed understanding of the market trends so that you come accustomed to what’s actually happening in the binary options market worldwide.
But it’s not even wrong to say that there are platforms which will bring you profit if you work hard and plan your trading plans strategically. This is not what is happening in the case of Cambridge Method as this platform is just giving you all the false idea about the binary options market.
What about the Testimonials?
It is quite common that scam sites pack themselves up with success stories and testimonials and make their website look lively and active. But the fact is these testimonials sound quite stereotypical and would not work magic once a new trader understands the motive behind it. It’s because the testimonials sounded so positive and exaggerated that it’s actually making the site look fake by itself.
Cambridge Method is no exception, and this can be seen in one such claim made in the testimonials that a certain person became a millionaire in just seven weeks after an initial deposition of $250. This is quite an exaggeration, yet people believe such claims and become victim of such lame platforms.
No binary options system would even allow a trader to become a millionaire in just seven weeks because the market seems to work completely in the opposite way to what these people behind the scam would want you to believe.
The Cambridge Method is no doubt one of the biggest scams in binary option’s history. Its unprofessionally moderated website, the video presentation and all the illogical claims are enough to make even a newbie to understand that this is just another fake system. I hope the information I shared is enough to make you believe that the Cambridge Method is nothing but a way to steal all your money.
Thank you for going through my article. Do leave a comment below if you want to clear more doubts.